You read it here first. Go back to post 813,and 816. In case your chart doesn't tell you--and the market isn't closed yet--this is a new low, and on high volume.
Now Dave, there's no reason to pout just because I'm pointing out certain facts. I don't know if any financing deals are in the works. Or for that matter licensing deals either. Ask Davis, he seems to be the one who talks to mgmt. But I do know this. If I were looking to cross-license any technology I'd just wait a few months and buy it on the courthouse steps. And no reputable broker will touch this with the overhang of the convertible issue.
No Dave, I don't know the answer to any of your questions, and I don't believe in Santa Claus. I don't know what deals, if any, are in the works, only what has been publically announced. You don't know the answers either. This mgmt team has been through about $18,000,000 in 18 months. The company is still not conducting a full phase 3 Trial for LYM-1, in fact I don't believe they have even been back to the FDA even though they bought back the rights to LYM-1 about one month ago. And I have no clue who the candidates are but whoever comes on board is going to have to raise money PDQ. How easy is it going to be to convince anyone that this dog can hunt.
Maybe someone will pull a rabbit out of a hat, they've always done it before, but its hard to imagine which one of this gang who can't even put out a proper press release is going to play magician.
Not to rain on your parade Dave, it always gets me excited when a man talks tough--that's one reason not to be excited by Stone--but were you at the shareholders meeting? Unfortunately I couldn't make it but I do remember hearing from multiple visitors from that meeting certain things. Try to remember that meeting was on 10/27/97. One of the esteemed officers had a presentation with pretty slides. This officer made it a point to explain that the burn rate was alittle over $700,000 per month. And now we hear, just 6 weeks later that the burn rate is about $1,200,000 per month. So in the quarter that ended 4 days after the presentation was made we discover that OOOOOOOPs, management was off by $500,000 per month.
Dave, your not much on spelling--remember dont is a contraction, it stands for do not and there is an apostrophe ( I'll give you a hint, it comes between the n and the t) so lets try some math. $500,000 is what % of $700,000? Lets try long division, I wouldn't want you to try to figure 5/7ths in your head. Suffice it to say its over 70%.
I have a question tough boy. How does a management team with 2--Bix and Lisa Gorbett-Frost--CPA's on board with not much to do manage to misstate (read lie) the burn rate by 70%? And only 4 days before the quarter ended. What changed between 10/27 and 10/31? I guess I answered my own question.
No Dave, you're the one who better get with it. I stated the company is running out of money. READ THE 10-Q!!! TCLN went through over $3,500,000 in the last quarter. We are into the 2nd month of the next quarter. I have no reason to believe anything has changed so if one takes approximately $6,800,000 (cash, equivalents, and short term investments, the first two items on the balance sheet)and subtracts 2,400,000 (Nov. and Dec. burn rate) that leaves $4.4MM. That takes you to January, no new CEO announced by Jan. 1 and enough money for 3 1/2 months. Is that the type of job you want to take?
On the other hand not many job applicants get the opportunity to lead a company to the billion dollar in sales level, and TCLN has that potential.
Dave, I'm not mad at you, but your post is stupid beyond belief. If you want to assume a cheerleader mentality, everything is fine, so be it. Dr. Wallner is with you. However this management team seems intent on taking this company down with it, and I've only stated the truth. The 10-Q makes me want to throw up and is proof that once again the top officers of the company have lied to you and me. Lied about something very important, like the financial status of the company. You and the other posters may not care, but plenty of class action lawyers do.
Dave, I'm sorry about picking on you for forgetting to use the apostrophe in "don't". It was a cheap shot. I'm mad at mgmt, not you. And you ought to be mad at them for lying to you, too. |
