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Post by jckrdu on Jul 10, 2022 13:24:25 GMT
All - I encourage everyone to vote NO for the reverse spilt (Proposal #4) on the proxy as it contains the term to keep the authorized shares at 600M.
Below are a few posts of mine on Reddit where I provide some additional thoughts:
I’m voting NO for the reverse split unless authorized shares are reduced below 600M. They’ll need a little more headroom after the approximate $30M is raised, but don’t need anywhere near 600M authorized. Take authorized down to 100M or 150M and I’ll approve.
You have to vote NO to the existing proxy and force them to issue a revised proxy with a lower number of authorized shares. Seen it happen before with other companies. They have plenty of time to issue a new proxy if they see they don’t have the votes. Dan could have put the existing proxy out with 600M authorized just to "test the waters" and see if shareholders approve. Have to force his hand and vote NO so he revises the proxy.
Athersys has plenty of time to issue a revised proxy, or two if needed. About 5 years ago another company I was invested in (either ONCS or ADXS... CEO was Dan O'Conner) issued 2 or 3 revised proxies 2 weeks before their annual meeting. Shareholders stuck together and kept voting down the number of proposed authorized shares. After each new proxy and the first few days of new voting, O'Conner could see if he had the votes or not. Each time a new Shareholder letter was issued announcing a new proxy with a lower number of authorized shares... until he finally got it approved. It was all done within 2 weeks.
If reverse is voted down and ATHX doesn't meet the minimum pps requirement, they can file for a 180 day extension with NASDAQ. They also have 300M pre-split shares available to raise cash as needed to keep things moving forward. Easier path forward with probably better financial terms if ATHX can reverse and raise cash with the pps in the dollars instead of the pennies, which is why I support the reverse... on the condition that the authorized shares are reasonable afterwards. 600M authorized is not reasonable.
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Post by avtech on Jul 11, 2022 11:57:12 GMT
JCKRDU,
Thanks for sharing your thoughts.
In your prior post item #3 on financing, perhaps going forward Athersys should be looking at the Helios Collaboration in which Helios is obligated to potentially pay $225 million in aggregate for each indication ARDS and ischemic stroke. Non dilutive funding can potentially be sourced by assigning a discounted portion either back to Helios, to Nikon, or another player to be mentioned.
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Post by eitherhalf on Jul 11, 2022 15:13:04 GMT
Due to your detailed post jckrdu, (and the volume of unhappy shareholders on reddit) I am re-thinking my vote. Still not sure what I will vote but this is certainly thought provoking. This why I wanted the discussion here! Thanks all
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pata
Junior Member
Posts: 52 
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Post by pata on Jul 12, 2022 2:42:37 GMT
Thank you guys for the reports! It seems like he has a plan and is intent upon executing. One quick observation: Dan has options for 10mm shares at an exercise price of .86. So, he has 10mm reasons to not sell this thing on the cheap and to build fundamental, long term value. Many of the ATHX employees also have significant RSUs and options that are underwater until $1.50-$2.50. Suffice to say, I feel pretty good about buying at or under .25 These incentives can be replaced post-split. Quoting from Reddit: "This is not ”dry powder”. It is a potential cramdown, where existing shareholders may be left with almost no stake. Current management doesn’t need to worry because the new owner can grant them plenty of new shares without legacy shareholders having a voice. The only way to be sure that the reverse split does not dilute current shareholders to oblivion is to apply the same or a larger split ratio to the authorized but not yet issued shares. I will vote against the reverse split until this is fully addressed. If management’s plan was to get an incremental investment (in exchange for a small stake) to take them through to MASTERS-2 readouts, they will have to contend with such an investor not wanting the potential dilution. The fact that they have not factored this in makes me wonder what their plan is. Dan is a sharp math / econ guy. I doubt this would have been overlooked if it was germane to their path forward. It makes me very concerned that he is not being transparent about his plan." |
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Post by md2008 on Jul 12, 2022 3:43:22 GMT
All - I encourage everyone to vote NO for the reverse spilt (Proposal #4) on the proxy as it contains the term to keep the authorized shares at 600M.Below are a few posts of mine on Reddit where I provide some additional thoughts: I’m voting NO for the reverse split unless authorized shares are reduced below 600M. They’ll need a little more headroom after the approximate $30M is raised, but don’t need anywhere near 600M authorized. Take authorized down to 100M or 150M and I’ll approve. You have to vote NO to the existing proxy and force them to issue a revised proxy with a lower number of authorized shares. Seen it happen before with other companies. They have plenty of time to issue a new proxy if they see they don’t have the votes. Dan could have put the existing proxy out with 600M authorized just to "test the waters" and see if shareholders approve. Have to force his hand and vote NO so he revises the proxy.Athersys has plenty of time to issue a revised proxy, or two if needed. About 5 years ago another company I was invested in (either ONCS or ADXS... CEO was Dan O'Conner) issued 2 or 3 revised proxies 2 weeks before their annual meeting. Shareholders stuck together and kept voting down the number of proposed authorized shares. After each new proxy and the first few days of new voting, O'Conner could see if he had the votes or not. Each time a new Shareholder letter was issued announcing a new proxy with a lower number of authorized shares... until he finally got it approved. It was all done within 2 weeks. If reverse is voted down and ATHX doesn't meet the minimum pps requirement, they can file for a 180 day extension with NASDAQ. They also have 300M pre-split shares available to raise cash as needed to keep things moving forward. Easier path forward with probably better financial terms if ATHX can reverse and raise cash with the pps in the dollars instead of the pennies, which is why I support the reverse... on the condition that the authorized shares are reasonable afterwards. 600M authorized is not reasonable. Voted against the split. I thought we would see a pr today about it…. |
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Post by avtech on Jul 12, 2022 10:26:45 GMT
I also voted no on proposal #4.
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Post by eitherhalf on Jul 12, 2022 10:42:21 GMT
voted no on the split. Voted no with hubby's shares as well. Hope the message is sent and they re-think the outstanding share count post split and the effect on us.
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toro
New Member
Posts: 19
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Post by toro on Jul 13, 2022 23:40:35 GMT
Same here, voted no on split.
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Post by eitherhalf on Jul 14, 2022 11:36:58 GMT
So, the wait begins. Chatter on the boards has trickled to a stop, sentiments are at an all time low, and disappointment rules. I wish we could have a view to a sunrise on this stock, witness a dramatic breaking of sunlight over the horizon but it just feels like a nuclear winter. sigh!
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Post by twenty2 on Jul 19, 2022 22:30:15 GMT
My Time With Dan Camardo and, Karen Hunady (Tues., July 19, 2022) at Reddit - LINK
I went to the LINK ("Microsoft Teams meeting", provided by, Athersys) a few minutes before our scheduled call at 11:00 am ET, today (Tues., July 19, 2022)...Shortly after 11:00 am ET, a split screen of Dan Camardo and Karen Hunady appears on my Google Chrome laptop...SHOWTIME!...
This report will be short and sweet...(although our meeting lasted approx. 40+ minutes)...
Our meeting was cut short because we ran overtime into the next scheduled meeting...But, I do greatly appreciate the time I was given by both Dan and, Karen...As a suggestion to those of you with the opportunity of a call (With, Dan & Karen), concentrate your most pressing concerns/questions early on in your call, so that it won't be missed...
The (2) positives I would like to share from our meeting...
1. From Dan, Any possible(?) change re Primary Endpoints for MASTERS-2 will be announced within (2) months...Consideration is being given to an age cap, as was done for MASTERS-1 (83 years old). And, or adding a 365 Day Measure. I presented the idea of keeping the one we have now (mRS Shift - 90 Days) and ADD mRS Shift - 365 Days...Again, Athersys is in the process of analyzing all this...
2. I told Dan about my efforts to reach out to Dan Gilbert (Billionaire Owner of the Cleveland Cavaliers)...See this post/thread for Ref. - Speculation/Discussion: Maybe the two Dans could talk/meet?...My/Our Hail Mary/Homerun... I made clear to them that I reached out to Dan Gilbert (3) times via e-mails...Beginning, May 31, 2022...Second time, to alert them of the Athersys KOL Panel: TREASURE Data Discussion...And, the third time after the KOL Panel Discussion, which included the hour long VIDEO & TRANSCRIPT...I told Dan Camardo I saw him and, Dan Gilbert as like minded individuals...I expressed, that I perceived Dan Gilbert as the type of person who would lend his ear (listen) to remarkable treatments (Clinical Trials) under investigation that are showing promising results in Ischemic Stroke Recovery...Because, Dan Gilbert's own Ischemic Stroke Recovery was hard, and challenging...In addition, I made them both aware that via the Gilbert Family Foundation, millions of dollars has been allocated to finding a cure for Neurofibromatosis (NF)...See this news article for Ref. - (April 28, 2022) Gilbert Family Foundation Furthers Commitment to Curing Neurofibromatosis (NF), Invests Additional $18 Million Toward Gene Therapy Initiative From the article: This new round of commitments brings the Gilbert Family Foundation’s total investment into curing NF1 to $72.5 million, with additional grant announcements to come later this year. Dan Camardo, Thanked Me For All My Efforts...Thought it was a great idea...And, promised me more than once, he will earnestly pursue a contact with Dan Gilbert! And, keep me informed...
3. (1st EDIT/Addition) One of my first questions was if Athersys had seen ALL the TREASURE data (Primary/Secondary Endpoints and Biomarkers)?...The answer was in the affirmative, yes...Then, I asked when will all that TREASURE Data be released?...Dan, hopes to share all the TREASURE Data before the end of the year 2022...Out of respect/caution to Healios and the PMDA, Dan does not want to get out in front of that interaction and, process between Healios and the PMDA...
4. (2nd EDIT/Addition) About, Proxy Proposal #3 - "...Equity and Incentive Compensation Plan"...I didn't know anything about it...I didn't understand it...So, I asked...I learned the Compensation Plan sets aside 21m shares for compensation to Athersys employees...The way I understand it, the 21m shares will be reduced in accordance with the Reverse Split (if it happens)...And, I also learned these 21m shares WILL NOT be a source for any type of Bonus to employees...
I find myself short on time right now...I must leave but, I will return later in the day to add/edit to this post and, address any questions the all of you might have?...Thank You, for your patience and, Thank You Dan Camardo and Karen Hunady...twenty2
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Post by tmfbmf on Jul 20, 2022 23:14:20 GMT
FWIW, BJ said he voted his shares in favor of the reverse split. I asked a follow up about why he thinks they're leaving the authorized shares at 600M but haven't heard back yet.
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Post by imz72 on Jul 21, 2022 9:42:21 GMT
FWIW, BJ said he voted his shares in favor of the reverse split. I asked a follow up about why he thinks they're leaving the authorized shares at 600M but haven't heard back yet. Thanks. Is there anything else he said that you can share? In the situation we are in every bit of information would be helpful. |
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Post by tmfbmf on Jul 21, 2022 16:58:44 GMT
FWIW, BJ said he voted his shares in favor of the reverse split. I asked a follow up about why he thinks they're leaving the authorized shares at 600M but haven't heard back yet. Thanks. Is there anything else he said that you can share? In the situation we are in every bit of information would be helpful. He agreed that the 600M shares is not necessary, but he's not worried about that. He pointed out the board has a fiduciary responsibility to the shareholders and will not "undertake financings unless necessary and advantageous for the company over time." |
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Post by CM kipper007 on Jul 21, 2022 19:00:20 GMT
Am I crazy to think Dan should be applying for the 180 day extension then doing what he can to get a plan from Healios for conditional approval with PMDA?
Surely if something was announced, that they were going forward, the SP would sharply increase again.
Then we would start seeing more patients treated, giving us more data points.
I just don't understand what more needs to be done in Japan. The trials have finished, they have all the data. This is a SAKIGAKE designation.
*** Scheme for Rapid Authorization of Unapproved Drugs: accelerating the practical application of unapproved/off-label use of drugs for serious and life-threatening diseases by expanding the scope of the Council on Unapproved Drugs/Off-label Use to include unapproved in Western countries if it satisfies certain conditions and by improving the environment for companies to undertake development of such drugs.
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Post by eitherhalf on Jul 26, 2022 10:49:44 GMT
Looks like I am losing my roth acc, lost my son's money and my husbands......this is kinda tough to handle. I joke a lot but this really hurts.....I really believed. Ok.....pity party held, and done.
Soooooo, why did the chicken cross the road? dunno, don't really care. need to figure out my mental status first.....lol
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Post by JHam on Jul 26, 2022 15:33:16 GMT
Looks like I am losing my roth acc, lost my son's money and my husbands......this is kinda tough to handle. I joke a lot but this really hurts.....I really believed. Ok.....pity party held, and done. Soooooo, why did the chicken cross the road? dunno, don't really care. need to figure out my mental status first.....lol That’s really sad to hear. It’s a brutal time out there in the market and I don’t see things improving anytime soon. I hope you and your family will be OK. |
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Post by eitherhalf on Jul 27, 2022 15:33:48 GMT
Thanks for the empathy. We will be fine. My husband has the bulk of our investment but it was a shitload for me and it sucks I got my son involved (trying to look out for his future....lol) Sorry to bring everyone down but we are really fine. Bought rivian at 20 bucks for example..lol
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Post by JHam on Jul 28, 2022 8:56:35 GMT
Not sure what’s happening pre-market but it’s +30% with 10M shares traded and we still have 4.5 hours before opening bell.
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Post by selluwud on Jul 28, 2022 12:14:08 GMT
Not sure what’s happening pre-market but it’s +30% with 10M shares traded and we still have 4.5 hours before opening bell. Over 20M now....................should be some news coming?? This poor issue has taken a beating, any positive would be welcome. |
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Post by eitherhalf on Jul 28, 2022 12:52:45 GMT
All motions were passed including the RS
Dan - "Very Attractive" opportunity is available at this time and evaluating others down the line
Wrong interpretation, he meant Athersys is a very attractive opportunity.....to someone....at some point...lol
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