I see now. they didn't buckle, just outsmarted the lawyers by manipulating the broker vote and claiming it as shareholder support. They may face a small penalty for improper disclosure after telling shareholders that if they didn't vote it would be counted against them, but in the end they get their way unless Courts say otherwise. I wish they had run the company's operations and strategy this aggressively instead of its anti-shareholder policy. Sad... Board is a bunch of Bad Actors... caveat emptor.
“The increase in authorized shares provides significant flexibility regarding potential financing of future opportunities, and the automatic conversion of the outstanding preferred shares into common simplifies our capital structure. We thank the overwhelming number of shareholders who support the company’s continued growth plans.”
That's an interesting statement to make when the company clearly just got brokers to vote uninstructed shares shares FOR the increased share authorization.. as in 30% of the shareholder support they got wasn't shareholder support. No Non-Broker votes and 100% vote participation just means the brokers voted with Management in treating the proposal as a routine matter.
I find that odd both in that the proposal was related to a merger (which should not benefit from broker non-votes by law) and the company's own proxy disclosure stating that by not voting it would have the same effect as voting AGAINST the proposal.
The Board seems to be a bunch of bad actors.
KTOV = Mcap $16 Mil /Cash $17 Mil /Low float O/S 10 M / NDA submission for Big Drug this Quarter = 20 BAGGER ..ONE OF THE BIGGEST BIOTECH OPPORTUNITY EVER ! Thank me later guys
Kitov Expects to Submit an NDA for KIT-302 in the Third Quarter 2017.Kitov announced that it began the process of compiling the documents necessary to file an NDA for its lead asset KIT-302 as a treatment for patients who experience both osteoarthritis and hypertension. The Company hired Parexel International Corporation, a clinical research organization, to digitalize and formally submit its NDA application. Kitov expects the filing to occur during the third quarter of 2017, with a potential FDA approval during the second quarter of 2018.
KIT-302 is a combination drug that treats osteoarthritis pain and hypertension simultaneously
Primary efficacy endpoint achieved Lead drug candidate KIT-302 achieved its primary efficacy endpoint in a pivotal Phase III trial
Marketing potential Pipeline candidates address large, multi-billion dollar markets
“KIT-302 has the potential to address the multi-billion dollar market for the treatment of osteoarthritis pain and hypertension with one drug that reduces patients’ risk of suffering a heart attack or stroke, while also reducing cost for payers. There is currently no single medication on the market that treats both osteoarthritis pain and hypertension and thus, KIT-302 will be the only NSAID indicated both to treat pain and to reduce the risk of heart attack, stroke and death.”
Pain medications for osteoarthritis account for billions of dollars in annual sales globally. Most pain medications for osteoarthritis, including celecoxib which had global sales of $2.7 billion in 2014, are non-steroidal anti-inflammatory drugs (NSAIDs) which have the side effect of elevating blood pressure, and increasing the risk of heart attacks, strokes and death. Of the 27 million Americans who live with osteoarthritis, 13.5 million also suffer from hypertension, which also increases the risk of heart attack, stroke, and death.
It seems that FHCO buckled and agreed that all shares issued as part of the APP/Aspen Park merger, including all shares issued to board members, corporate officers and APP investors will be counted as abstensions for the planned special meeting on 7/28. This actually makes it more difficult for them to receive required majority and supermajority shareholder support for their proposals since they are still using the 31M+ share count that includes those shares. Still, take nothing for granted as the Board has established a history of ignoring the shareholder vote... perhaps at its own peril.
It is highly uncommon for any company to enter into this type of agreement. Rational companies don't do this unless they suspect they may be found at fault.
fhcoinvestor - Modified Agreement FHCO - Page 1 - Created with Publitas.com
Modified Agreement FHCO
there happy to report more dilution coming soon.............
The post by Big Boss below is Big Lie. Application for restraining order (TMO) as been filed in court. Hearing is 7/10/17. As of this moment, no TRO has been issued nor will one be considered by the court, until 7/10/17.
Signed, Truthful Rational Person
FHCO ISSUED RESTRAINING ORDER FROM HOLDING SPECIAL MEETING While this rarely happens, the Company has been issued a temporary restraining order from holding the Special Meeting:
THIS MATTER coming on for hearing on Plaintiff Schartz’s Motion for a Temporary Restraining Order with notice, counsel for the parties present, the Court being fully advised with the Court hearing argument of counsel and the Court reviewing the pleadings, submissions and affidavits, THE COURT FINDS: (a) Plaintiff has demonstrated certain and clearly ascertainable rights with respect to: (a) the Wisconsin Business Corporation Law; (b) stockholder voting practices of The Female Health Company; and (c) information disseminated to The Female Health Company’s stockholders ahead of a proposed stockholder vote; (b) Plaintiff has demonstrated a showing of irreparable harm if this Court does not enter the Temporary Restraining Order to preserve the status quo; (c) Plaintiff has demonstrated that no adequate remedy at law exists, thereby necessitating the entry of the Temporary Restraining Order; (d) Plaintiff has shown at least a fair question regarding the probability of success on the merits on the issues raised by the motion; (e) After reviewing the equities and balancing the hardships in entering the Temporary Restraining Order, the Court finds that the equities favor the Plaintiff; and (f) For good cause shown, the Court finds that the Temporary Restraining Order should be entered without a bond. IT IS HEREBY ORDERED: 1. Plaintiff’s Motion for a Temporary Restraining Order is GRANTED. 2. Until the Court has finally adjudicated the merits of Plaintiffs’ claims in these proceedings or has issued a further Order lifting or modifying the Temporary Restraining Order, Defendants and The Female Health Company are enjoined from holding a stockholder vote on the Proposals set forth in the definitive proxy statement filed by The Female Health Company with the Securities & Exchange Commission on June 21, 2017.
No panic selling this morning, After the shareholder meeting announcement. I guess all week hands are out. People taking a longer term view. I hate the dilution and debt to come, but with the condom sales at a standstill It looks like I will vote for the proposals.
Even more insider trades. FHCO insiders have now purchased almost 220,000 shares in the past 7 months.
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I thought FHCO, was in a trading range but dips below $1 are problematic. If this stock stays below that into earnings look out below. Was bullish before vote, lost money and now bearish. Glad I got out when I did.
Which will be larger at year end 2017, the salaries of all these fancy PhD's we are hiring for Aspen Park-Veru...or the market cap of FHCO?
It's easy to be cynical, but in fact Mitch Steiner is following through on the commitments he made in seeking support for the merger. No company can carry these steps out without qualified people, including some with fancy PhDs.
Did anyone listen to the conference call today? Opinions?
The Female Health Company NASDAQ $FHCO Correlation Histogram
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks Sep-2016 1,000 Day Parameter 2,830 NASDAQ Stocks Price Analysis This stock mode of correlation coefficient is 0.8 In other words, the correlation coefficient of the other stock
Received an alert this am about $FHCO from http://monstastocks.com/?s=FHCO, you may want to take a look. _work is not a rabbit. it wo'nt run. you can sit. Day trading investing.
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