Well Go Bears, I would agree that your reply definitely spins a positive slant on my critique of the post. However, my main point is not to nit pick, but to point out that his blog is full of heresy of which most of it cannot be verified. let me try and respond to some of what you said:
1) "counseled by several industry veterans" What industry veterans? He needs counseling?
Do you expect him to name names? I also don't think you understand the word counsel in this context.
Answer: Its not that I expect him to name names, (no way to verify anyways) but the fact that he needed someone to tell him that its all going to be ok and that things take time.
2) "chief among them being patience and faith." Part of the counseling he received was an industry veteran telling him to be patient and that it takes time? Really?
I'm not getting your point. I think there are a lot of examples of patience being important and development taking time.
Answer: See above
3) "current team." You mean, whats left of the current team?
Just because a few people have left doesn't mean there is nobody left.
Answer: I didn't say there was no one left. I was implying that the people with whom our excitement and hope contributed to have left. Who is it there at AMBS that still gives you hope based on their connections?
4) "while also delivering significant value to a healthcare system stretched to its financial capacity.” Yeah, that’s what he is concerned about.
Non-issue. Not worth commenting on. You're just nit-picking here.
Answer: Ok, ya got me there.
5) "near-term liquidity events." Ahh- the ever so elusive near term event.
Ever so elusive until it happens, then it's not elusive anymore. It only takes one.
Answer: My point being, we have been hearing about these "near-term liquidity events" for YEARS!!!! At what point does the "Boy who cries Wolf" event take place for you? I agree that my hope that one event changes the whole picture, but everything in life is elusive until it is not. Thats does not really say anything about the amount of times Gerald has used that term and people basing their investment decisions on it and yet here we are.
6) "the Board of Directors has given management the mandate to accelerate our partnering initiatives in order to acquire the resources necessary to move the rest of the portfolio forward. " Oh, so the reason we don’t have any partners for ANY OF OUR ASSETS is because management never forced us to consider them?
He said they have given the mandate to accelerate the partnering initiatives, not that they haven't ever considered it before. Also, they have more assets to partner now than they used to have.
Answer: Of course it was an option (ie a consideration), but now it is a mandate (an official order or commission to do something.) That is a different tone. As if, "what you have been doing has not been working and so now we are forced to step in and "order you" to go in a certain direction. Not nit picking. Just my feel of what was said.
7) "while preserving and/or transferring value to our shareholders along the way." This statement needs zero comment.
You're not providing the context of the quote. He's talking about shareholder value increasing if they partner an asset, which is obvious. So yes, there is no comment needed.
Answer: "If they partner an asset". My point again, how many times have we heard this?. 2014 was when it was going to happen. 2015 was when it was going to happen. Read the previous blogs.
" transact on either ESS or Eltoprazine in order to further refine the Company’s profile into a regenerative medicine company (ESS + MANF + Phenoguard) or a neurology company (Eltoprazine + MANF + Phenoguard)" In other words, we have no idea who we are or what we are about. And what the hell does “transact on” mean?
Sell or partner. Read it carefully. If we sell ESS, we keep Elto. If we sell Elto, we keep ESS. It's not about not knowing who we are. It's about our options after we sell one of the assets involved.
Answer: So we might be a regenerative medicine company or a neurology company. Right now we are what? Between ESS and Eltropazine, which one is the bigger opportunity? Phenoguard? what has it produced recently? Wasn't Geralds dad's bonus tied to "a new discovery" using Phenoguard? Its the whole "after we sell one of these assets" part that gives me doubt. We have to have a buyer first.
9) "could provide a pipeline for a very valuable standalone public company." There is the elusive “could provide” but hasn’t yet, but keep holding your breath.
If it was already provided, this blog would not have been necessary because we'd all be rich. Just because it hasn't happened, doesn't mean it can't happen.
Answer: Never said it could not happen. What I am pointing out is the carrot that he dangles with the verbiage that he uses.. Anyone of us could have made that statement. It holds zero significance in terms of the health and future viability of the company. Thats what we are looking for. All we see is dilution and reverse splits. That is a known.
10) "conditions in the market for our common shares rapidly deteriorated in the third quarter." -It just gets better. Conditions in the market didn’t deteriorate the value, getting into bed with toxic financiers did. This was the one I was REALLY hoping to not hear. The CEO is directly responsible for the deterioration of the share price….PERIOD! Nice try Gerald, by passing the buck.
Discounting the market conditions and placing 100% of the blame on the CEO is ludicrous. I'm not saying the market conditions were 100% of the problem either, but no one person or situation is 100% responsible.
Answer: So where does the buck stop in a company? Chief Executive Officer. By definition that is where the buck stops. My point is that he once again blamed ANYONE (remember the tweet blaming the retail shareholders for the decline) and anything he can for the our resulting share price. No apology for making some lousy business decisions. In sports, is it entirely the coaches fault when a team sucks? No, not at all. But what happens to coaches that suck? Same thing that should happen to CEO's.
11) "value appreciation of our common stock could potentially occur." – Again, been hearing that for the last 3 years.
Just because it hasn't happened doesn't mean it can't happen.
Answer: Again, this is a statement that any of us could have made. Depending on the credibility of the person making that statement makes all the difference in the world in terms of it "belief factor". Never said it couldn't happen. I am just evaluating the legitimacy and "agreeableness" of his blog
12) "As we evaluate potential business development opportunities." What potential business development opportunities do they have to evaluate? Been hearing this one forever. Must be attached to those ever elusive NDA’s.
Good question on your part. If you really expect specific details, you don't know how things work.
Answer: How can that be a good question and at the same time based on not knowing how things work.?
13) "we are working behind the scenes to understand." – In other words, “ we don’t know what’s going on.” That’s a great place to be after destroying all of the long term shareholders value.
Stop taking quotes out of context. He's referring to their course of action regarding the ODD pathway for Elto. It's likely they don't know yet, which is entirely reasonable.
Answer: Not reasonable in terms of the expertise that had brought on that is no longer there.
14) "begin evaluating Phase 3 development plans for adult ADHD as well as Phase 2 development plans for Alzheimer’s aggression." - “Begin evaluating”? Means nothing.
You have to plan before you can start a trial.
Answer: We have heard about these things for years and they haven't even developed the plans? With what money will they fund these plans? They just stoped the trials on Elto cause they don't have enough money to do both ESS and Elto. You have to not only have plans to start a trial, you have to have money.
15) "Given the recent uptick in interest in Alzheimer’s therapies" – Recent? The interest in Alzheimers therapies is not “recent”.
I think he's referring to AVXL here.
Answer: He didn't say that. If thats what he was referring to, he should have said that for those of us unfamiliar with AVXL. You just made my point. We are always making speculations concerning what CG means or to what he is referring.
16) "we are especially excited about the potential to develop Eltoprazine in this area" – Ahhhhh. The overly used “especially excited”.
Nit-picking again. Do you want him to say they are not excited?
Answer: Nope, but been hearing the same rhetoric for years.
17) "made good progress on the commercial launch plan for MSPrecise® at a meeting we held in Dallas, TX." Ahhhh, the overly used “made good progress” statement. Meeting with who? Who wants MS Precise? We have had it for how long?
You're not going to find this out until it's sold.
Answer: Again, not saying that it could not happen. "Made good progress" is a relative term that tells us shareholders nothing. They have "made good progress" on everything, but here we are, down tons.
18) " continuing to evaluate the next set of studies to further enhance LymPro’s value - Ahhhh, the “continuing to evaluate” statement. I thought this thing was going to be generating revenue so that we would not have to dilute. Besides, “a reverse split may not even be necessary.”
Go back to the Lympro blog by Dr. Trzepacz and refresh your memory.
Answer: No need. Not arguing the "potential" of Lympro.
19) "and will forego the option agreement with Georgetown University." – Hence, “we have no more money to continue with our option agreement.” I thought this was necessary to strengthen the diagnostics suite and increase the accuracy of the Lympro test?
They are studying Lympro in conjuction with PET. I don't think they want to put money into advancing G'town if they are going to sell Lympro off in the near future.
Answer: Don't think or know? What we all "think" matters not when it comes to share price. Obviously! Oh wait, maybe it does...lol Wasn't the G town stuff going to enhance the value of Lympro and hence the money they would get for it?
20) "that we recently completely enrollment." - A fricken spelling error? Does not anyone re-read these things before they post them?
This time, I agree with you. That bugs me.
21) "we believe we have sufficient critical mass." – And again the “we believe”. Obviously the market does not share your belief.
The market doesn't believe until it does believe. It doesn't mean it won't happen
Answer: Again, not the point of this whole post.
22) "are now focused on the CLIA launch plans for these products. – I thought this was going to happen ages ago. “Now focused”?
Plans change.
Answer: These plans didn't change, they were sold to us as a done deal in the immediate future.
23) "We remain on track to transact on the diagnostics division"- Really? Remain on track? That’s a subjective term. For when? 2030?
STOP QUOTING PORTIONS OF SENTENCES. Literally, the next words were "in the fourth quarter." Geez.
Answer: We are in the fourth quarter right? Wanna put some money on #1) what that term "transact" means and #2) if it means bring money in, if it will happen in the next 7 weeks.?
24) "as a key time to potentially make public announcements of definitive agreements." – This is the best. “Potentially make” and “definitive agreements” used in the same sentence.
He can't say exactly when announcements will come if he doesn't know when agreements will be final. At least he gives a ballpark estimate of a date and time.
Answer: We all know what his ballpark estimate success rates are.
25) "we believe the sheer strength of our portfolio will allow the Company to overcome the challenges we face." – Yeah, its doing such a good job so far. The only challenge we need to overcome is to figure out how to get someone in there that knows what they are doing.
GC's not going anywhere so you might as well stop thinking about it.
Answer: And that is kinda unfortunate. CEO changes are made everyday and we are tied to a company that will allow the company to BK in order to not have to replace the CEO. Nepotism at its finest.
26) "we believe we have a strong execution plan, with achievable milestones" – “Believe”? How about “know”? Also, heard this many times in the past.
Semantics. Nit-picking again.
Answer: See all of my previous posts. Could not care less at this point what he "believes". Unfortunately, based a lot of my investing decisions based on Geralds "belief" about what was going to happen. Well, of course the pipeline also is attractive.
27)"We believe the support of our shareholders at this time in our corporate history is paramount." – This one takes the trophy! And we should support you because? Based on this piece of crap blog? Based on all of things you have claimed that never happened? Your stellar communication? It’s as if he does not even realize that many of us are down 90% +. He has given us zero reason to support his, what I now consider, delusional visions.
Then don't support them and sell your shares. Easy solution.
Answer: Again, not the point of my critique. Being down as much as I am makes no sense to sell. It would be my luck to sell, have them bring in a new CEO or make a sale of some sort and the share price rocket. I'm not saying it can't happen, what I was trying to point out is the "fluff" that was this blog.
28) "working with our team" – what team? Who is left?
I already responded to this one earlier. See #3.
Answer: See my answer to #3
Gobears, thanks for the reply and the opportunity to respond.
1) "counseled by several industry veterans" What industry veterans? He needs counseling?
Do you expect him to name names? I also don't think you understand the word counsel in this context.
Answer: Its not that I expect him to name names, (no way to verify anyways) but the fact that he needed someone to tell him that its all going to be ok and that things take time.
2) "chief among them being patience and faith." Part of the counseling he received was an industry veteran telling him to be patient and that it takes time? Really?
I'm not getting your point. I think there are a lot of examples of patience being important and development taking time.
Answer: See above
3) "current team." You mean, whats left of the current team?
Just because a few people have left doesn't mean there is nobody left.
Answer: I didn't say there was no one left. I was implying that the people with whom our excitement and hope contributed to have left. Who is it there at AMBS that still gives you hope based on their connections?
4) "while also delivering significant value to a healthcare system stretched to its financial capacity.” Yeah, that’s what he is concerned about.
Non-issue. Not worth commenting on. You're just nit-picking here.
Answer: Ok, ya got me there.
5) "near-term liquidity events." Ahh- the ever so elusive near term event.
Ever so elusive until it happens, then it's not elusive anymore. It only takes one.
Answer: My point being, we have been hearing about these "near-term liquidity events" for YEARS!!!! At what point does the "Boy who cries Wolf" event take place for you? I agree that my hope that one event changes the whole picture, but everything in life is elusive until it is not. Thats does not really say anything about the amount of times Gerald has used that term and people basing their investment decisions on it and yet here we are.
6) "the Board of Directors has given management the mandate to accelerate our partnering initiatives in order to acquire the resources necessary to move the rest of the portfolio forward. " Oh, so the reason we don’t have any partners for ANY OF OUR ASSETS is because management never forced us to consider them?
He said they have given the mandate to accelerate the partnering initiatives, not that they haven't ever considered it before. Also, they have more assets to partner now than they used to have.
Answer: Of course it was an option (ie a consideration), but now it is a mandate (an official order or commission to do something.) That is a different tone. As if, "what you have been doing has not been working and so now we are forced to step in and "order you" to go in a certain direction. Not nit picking. Just my feel of what was said.
7) "while preserving and/or transferring value to our shareholders along the way." This statement needs zero comment.
You're not providing the context of the quote. He's talking about shareholder value increasing if they partner an asset, which is obvious. So yes, there is no comment needed.
Answer: "If they partner an asset". My point again, how many times have we heard this?. 2014 was when it was going to happen. 2015 was when it was going to happen. Read the previous blogs.
" transact on either ESS or Eltoprazine in order to further refine the Company’s profile into a regenerative medicine company (ESS + MANF + Phenoguard) or a neurology company (Eltoprazine + MANF + Phenoguard)" In other words, we have no idea who we are or what we are about. And what the hell does “transact on” mean? Sell or partner. Read it carefully. If we sell ESS, we keep Elto. If we sell Elto, we keep ESS. It's not about not knowing who we are. It's about our options after we sell one of the assets involved.
Answer: So we might be a regenerative medicine company or a neurology company. Right now we are what? Between ESS and Eltropazine, which one is the bigger opportunity? Phenoguard? what has it produced recently? Wasn't Geralds dad's bonus tied to "a new discovery" using Phenoguard? Its the whole "after we sell one of these assets" part that gives me doubt. We have to have a buyer first.
9) "could provide a pipeline for a very valuable standalone public company." There is the elusive “could provide” but hasn’t yet, but keep holding your breath.
If it was already provided, this blog would not have been necessary because we'd all be rich. Just because it hasn't happened, doesn't mean it can't happen.
Answer: Never said it could not happen. What I am pointing out is the carrot that he dangles with the verbiage that he uses.. Anyone of us could have made that statement. It holds zero significance in terms of the health and future viability of the company. Thats what we are looking for. All we see is dilution and reverse splits. That is a known.
10) "conditions in the market for our common shares rapidly deteriorated in the third quarter." -It just gets better. Conditions in the market didn’t deteriorate the value, getting into bed with toxic financiers did. This was the one I was REALLY hoping to not hear. The CEO is directly responsible for the deterioration of the share price….PERIOD! Nice try Gerald, by passing the buck.
Discounting the market conditions and placing 100% of the blame on the CEO is ludicrous. I'm not saying the market conditions were 100% of the problem either, but no one person or situation is 100% responsible.
Answer: So where does the buck stop in a company? Chief Executive Officer. By definition that is where the buck stops. My point is that he once again blamed ANYONE (remember the tweet blaming the retail shareholders for the decline) and anything he can for the our resulting share price. No apology for making some lousy business decisions. In sports, is it entirely the coaches fault when a team sucks? No, not at all. But what happens to coaches that suck? Same thing that should happen to CEO's.
11) "value appreciation of our common stock could potentially occur." – Again, been hearing that for the last 3 years.
Just because it hasn't happened doesn't mean it can't happen.
Answer: Again, this is a statement that any of us could have made. Depending on the credibility of the person making that statement makes all the difference in the world in terms of it "belief factor". Never said it couldn't happen. I am just evaluating the legitimacy and "agreeableness" of his blog
12) "As we evaluate potential business development opportunities." What potential business development opportunities do they have to evaluate? Been hearing this one forever. Must be attached to those ever elusive NDA’s.
Good question on your part. If you really expect specific details, you don't know how things work.
Answer: How can that be a good question and at the same time based on not knowing how things work.?
13) "we are working behind the scenes to understand." – In other words, “ we don’t know what’s going on.” That’s a great place to be after destroying all of the long term shareholders value.
Stop taking quotes out of context. He's referring to their course of action regarding the ODD pathway for Elto. It's likely they don't know yet, which is entirely reasonable.
Answer: Not reasonable in terms of the expertise that had brought on that is no longer there.
14) "begin evaluating Phase 3 development plans for adult ADHD as well as Phase 2 development plans for Alzheimer’s aggression." - “Begin evaluating”? Means nothing.
You have to plan before you can start a trial.
Answer: We have heard about these things for years and they haven't even developed the plans? With what money will they fund these plans? They just stoped the trials on Elto cause they don't have enough money to do both ESS and Elto. You have to not only have plans to start a trial, you have to have money.
15) "Given the recent uptick in interest in Alzheimer’s therapies" – Recent? The interest in Alzheimers therapies is not “recent”.
I think he's referring to AVXL here.
Answer: He didn't say that. If thats what he was referring to, he should have said that for those of us unfamiliar with AVXL. You just made my point. We are always making speculations concerning what CG means or to what he is referring.
16) "we are especially excited about the potential to develop Eltoprazine in this area" – Ahhhhh. The overly used “especially excited”.
Nit-picking again. Do you want him to say they are not excited?
Answer: Nope, but been hearing the same rhetoric for years.
17) "made good progress on the commercial launch plan for MSPrecise® at a meeting we held in Dallas, TX." Ahhhh, the overly used “made good progress” statement. Meeting with who? Who wants MS Precise? We have had it for how long?
You're not going to find this out until it's sold.
Answer: Again, not saying that it could not happen. "Made good progress" is a relative term that tells us shareholders nothing. They have "made good progress" on everything, but here we are, down tons.
18) " continuing to evaluate the next set of studies to further enhance LymPro’s value - Ahhhh, the “continuing to evaluate” statement. I thought this thing was going to be generating revenue so that we would not have to dilute. Besides, “a reverse split may not even be necessary.”
Go back to the Lympro blog by Dr. Trzepacz and refresh your memory.
Answer: No need. Not arguing the "potential" of Lympro.
19) "and will forego the option agreement with Georgetown University." – Hence, “we have no more money to continue with our option agreement.” I thought this was necessary to strengthen the diagnostics suite and increase the accuracy of the Lympro test?
They are studying Lympro in conjuction with PET. I don't think they want to put money into advancing G'town if they are going to sell Lympro off in the near future.
Answer: Don't think or know? What we all "think" matters not when it comes to share price. Obviously! Oh wait, maybe it does...lol Wasn't the G town stuff going to enhance the value of Lympro and hence the money they would get for it?
20) "that we recently completely enrollment." - A fricken spelling error? Does not anyone re-read these things before they post them?
This time, I agree with you. That bugs me.
21) "we believe we have sufficient critical mass." – And again the “we believe”. Obviously the market does not share your belief.
The market doesn't believe until it does believe. It doesn't mean it won't happen
Answer: Again, not the point of this whole post.
22) "are now focused on the CLIA launch plans for these products. – I thought this was going to happen ages ago. “Now focused”?
Plans change.
Answer: These plans didn't change, they were sold to us as a done deal in the immediate future.
23) "We remain on track to transact on the diagnostics division"- Really? Remain on track? That’s a subjective term. For when? 2030?
STOP QUOTING PORTIONS OF SENTENCES. Literally, the next words were "in the fourth quarter." Geez.
Answer: We are in the fourth quarter right? Wanna put some money on #1) what that term "transact" means and #2) if it means bring money in, if it will happen in the next 7 weeks.?
24) "as a key time to potentially make public announcements of definitive agreements." – This is the best. “Potentially make” and “definitive agreements” used in the same sentence.
He can't say exactly when announcements will come if he doesn't know when agreements will be final. At least he gives a ballpark estimate of a date and time.
Answer: We all know what his ballpark estimate success rates are.
25) "we believe the sheer strength of our portfolio will allow the Company to overcome the challenges we face." – Yeah, its doing such a good job so far. The only challenge we need to overcome is to figure out how to get someone in there that knows what they are doing.
GC's not going anywhere so you might as well stop thinking about it.
Answer: And that is kinda unfortunate. CEO changes are made everyday and we are tied to a company that will allow the company to BK in order to not have to replace the CEO. Nepotism at its finest.
26) "we believe we have a strong execution plan, with achievable milestones" – “Believe”? How about “know”? Also, heard this many times in the past.
Semantics. Nit-picking again.
Answer: See all of my previous posts. Could not care less at this point what he "believes". Unfortunately, based a lot of my investing decisions based on Geralds "belief" about what was going to happen. Well, of course the pipeline also is attractive.
27)"We believe the support of our shareholders at this time in our corporate history is paramount." – This one takes the trophy! And we should support you because? Based on this piece of crap blog? Based on all of things you have claimed that never happened? Your stellar communication? It’s as if he does not even realize that many of us are down 90% +. He has given us zero reason to support his, what I now consider, delusional visions.
Then don't support them and sell your shares. Easy solution.
Answer: Again, not the point of my critique. Being down as much as I am makes no sense to sell. It would be my luck to sell, have them bring in a new CEO or make a sale of some sort and the share price rocket. I'm not saying it can't happen, what I was trying to point out is the "fluff" that was this blog.
28) "working with our team" – what team? Who is left?
I already responded to this one earlier. See #3.
Answer: See my answer to #3
Gobears, thanks for the reply and the opportunity to respond.
