Posts Removed fm Uncle's OpkoDD Closing Decision
Apr 22, 2024 18:46:02 GMT
icemandios, mhat, and 2 more like this
Post by luxetvox on Apr 22, 2024 18:46:02 GMT
I very much have appreciated the knowledge so generously shared on this site. I just keep thinking back to when I first joined this site and purchased this stock. The enthusiasm and hope seemed limitless. I do understand the burden carried by so few and do not expect the free ride forever. Still, I am saddened by the lackluster performance of this stock which has now kind of strangled the life out of this site.
The stock price is the sum total of the defective organism that the mad scientist Phil has concocted in his, ahem....lab. The nine years of nuclear waste resulting from his own purposeful bomb detonations is a landmark case study for the history of public companies. He has even destroyed a substantial portion of his own net worth. I could not care less for his well being, nor for his now severely diminished legacy and wealth. He has made his own bed. The near-criminal aspect however is that he has forced other shareholders to lie in it with him. The pain he has caused so many people, while continuing to pay himself and those who protect him, will never be forgotten. And I suspect that the pain he's caused others in prior companies in part accounts for the sad record of Opko's stock price. What's amazing is that, while Frost is clearly reviled by many investors, and has been so for many many years, in the case of Opko he actually provided those with a negative view the catalytic fuel to annihilate the stock, via enormous, unending, ill-advised dilution. And his penny stock shenanigans, discovered by the DEC likely through tips from enemies, was another tanker of gas he provided to the already raging fire.
Of the 697 million shares outstanding, he received 417 million votes "For" his continuation on the BOD. Aggregating the holdings of Frost, Zerhouni, Nabel, Jane, Rubin, and 4 Israeli insurance companies (who clearly are beholden to Frost.....there is NO obvious reason why they collectively own nearly 28 million shares of Opko), that total is 390 million shares. Therefore, a total of 27 million non-biased shares voted "For" Frost. And likely a good portion of them are brain dead.
So, no matter what Yahoo maven may try to hoodwink you with hocus pocus 'valuations' of Opko (to my knowledge, there has NEVER been a biotech which has ever been bought by an acquirer and then sold old for 'break up' value.....because biotechs are NOT bought for unrealized/hidden value; rather, they are bought for FUTURE value), the voting numbers tell you that a mere 3.8% of the shareholders that are not REQUIRED to vote yes cast their ballots in favor of the washed up penny stock trader who happens to be our CEO.
The company puts out no news. And the Stepford wife-like behavior of every new hire has now taken over the number 2 & 3 shareholders. What was once an exciting spin out from Sanofi has become the cemetery that has defined Opko for many many years.
Unless Opko management carries out what Bill and I have been urging them to do, the mathematics of the financial structure is such that the stock will continue to spin its wheels. Otherwise big pieces of news will continue to be met with indifference, and Frost will continue to take executive compensation, for being perhaps the shittiest public company executive of the past nine years.
We'll get some news soon about the oncology drug moving into the clinic, and there will likely be a faint glimpse or two or improvement at BioReference on the Q1 results call. The date of which has yet to be announced. Which is an unmitigated disgrace. Our money has been placed with a guy who turns out to have been a rank amateur when it comes to business. His BOD, instead of being comprised of the quality that pervades the boardroom at Alpine Immune Sciences, is primarily a laughable bunch of failures, socialites, rejects, and otherwise grossly unqualified yes men and women.
I like this board, and have learned a few things along the way. But your metaphor of strangulation is apropos. Phil Frost is guilty of corporate homicide, in the first degree. His radioactivity has permeated those around him, and even distant offshoots like opkodd. And that will be his legacy.