One more thing - short more of the stock, as much as you can, pretty please.
Great Provenge Patient Videos
- Thread starter Anonymous
- Start date
-
- Tags
- None
Dear Mitch- Its apparent that you don’t care about your employees, especially for the ones that took the big risk of staying on through all the dips. If it was just getting sucker punched on our financial future, I might have kept quiet. But no, you had to make our working life hell by bringing on people you knew were toxic.
So here are a few questions for you
Every Monday afternoon you attended a meeting that reviewed plant capacity and sales. You had Weekly Capacity Reports at your disposal. Don't you remember?
We were limited to a measly 12 workstations throughout most of 2010. We couldn’t even fill those slots. Don't you remember?
Our Market Planning Department, the ones with all the data and responsible for forecasting, projected 2011 sales of $240M in late 2010. That didn’t fit in you’re your plans. Did you choose to ignore or mislead?
I could go on and on but that should keep the lawyers busy for a while.
The last straw was bringing on Rosen. This was after your entire executive board said no. You trumped them all and gave him a two-year contract. For all you lawyers out there here’s a hint to save time. Just pull up the Bayer lawsuit, do a search for Bayer and replace with Dendreon. Okay, here’s another straw. Dan Mini-Me. Rob has already taken credit for inventing the internet among everything else. You’ll have to think of something else to justify your arrogance.
Oh and one last question for Mitch. We’ve all been touched by cancer but you’ve been very vocal about it. How many of those millions you pocketed were donated to cancer research? Thought so!
--------------------------------------------------------------------------------
This the best posting on this site. We applaud your courage to post such provocative and truthful commentary about the events leading to the "Hindinburg-esque" disaster of August 3rd, 2011. We know quite well that Mr. Gold knew well in advance that we would never achieve the numbers he and his henchmen crowed to the investment community. Being a poor and stupid CEO is not criminal but having multiple sources of evidence to demonstrate that the 400 million goal was never a reality is and should be prosecuted.
So here are a few questions for you
Every Monday afternoon you attended a meeting that reviewed plant capacity and sales. You had Weekly Capacity Reports at your disposal. Don't you remember?
We were limited to a measly 12 workstations throughout most of 2010. We couldn’t even fill those slots. Don't you remember?
Our Market Planning Department, the ones with all the data and responsible for forecasting, projected 2011 sales of $240M in late 2010. That didn’t fit in you’re your plans. Did you choose to ignore or mislead?
I could go on and on but that should keep the lawyers busy for a while.
The last straw was bringing on Rosen. This was after your entire executive board said no. You trumped them all and gave him a two-year contract. For all you lawyers out there here’s a hint to save time. Just pull up the Bayer lawsuit, do a search for Bayer and replace with Dendreon. Okay, here’s another straw. Dan Mini-Me. Rob has already taken credit for inventing the internet among everything else. You’ll have to think of something else to justify your arrogance.
Oh and one last question for Mitch. We’ve all been touched by cancer but you’ve been very vocal about it. How many of those millions you pocketed were donated to cancer research? Thought so!
--------------------------------------------------------------------------------
This the best posting on this site. We applaud your courage to post such provocative and truthful commentary about the events leading to the "Hindinburg-esque" disaster of August 3rd, 2011. We know quite well that Mr. Gold knew well in advance that we would never achieve the numbers he and his henchmen crowed to the investment community. Being a poor and stupid CEO is not criminal but having multiple sources of evidence to demonstrate that the 400 million goal was never a reality is and should be prosecuted.
Rather a crazy paranoid person who thinks that everything in the thread is about them.
Also can't read a profit loss statement and listens to the questionable management.
Change in cash is a comic number. "Loss" is meaninful. That was $90M last quarter.
Sales + loss have been a steady $175-190M. They are going to need to sell that much
to have any hope of a profit. If they sell more, they will have some costs.
They still don't have a functioning sales org., so more costs ahead.
"Also can't read a profit loss statement and listens to the questionable management.
Change in cash is a comic number. "Loss" is meaninful. That was $90M last quarter.
Sales + loss have been a steady $175-190M. They are going to need to sell that much
to have any hope of a profit. If they sell more, they will have some costs."
You are as fucking dumb as a piece of wood. You have no idea what cash usage even is. Give it up, you are way out of your league. Go back to your yahoo board and you can have delusional grade school banter with the rest of the idiots over there. I am laughing my ass off right now. The only "comic" thing around here are your ignorant and deranged posts. BTW "meaningful" has a "g" in it. Do you seek out assistance with the "NoSpam! verification question" on this website as well?
Change in cash is a comic number. "Loss" is meaninful. That was $90M last quarter.
Sales + loss have been a steady $175-190M. They are going to need to sell that much
to have any hope of a profit. If they sell more, they will have some costs."
You are as fucking dumb as a piece of wood. You have no idea what cash usage even is. Give it up, you are way out of your league. Go back to your yahoo board and you can have delusional grade school banter with the rest of the idiots over there. I am laughing my ass off right now. The only "comic" thing around here are your ignorant and deranged posts. BTW "meaningful" has a "g" in it. Do you seek out assistance with the "NoSpam! verification question" on this website as well?
"Quarter by quarter this repeated abuse via conference call further erodes the victim's self worth to the point the victim makes excuses for the behavior of the abusive company and, by proxy, the corporate abusers."
Top 3 most hilarious lines on this board. Up there with Peg's grinch song and Mitch's Prep H.
How about the new contracting effort on Provenege.
Thoughts? Desperate measure or good business?
Thoughts? Desperate measure or good business?
Great catch on the "g". What an idiot to make such a typo and think that losses mean something. I agree, with debt of $1.7B, all that matter is the change in cash. Don't worry about things like "loss", that's for yahoo morons to be sure, Bulgaria and DNDN can both borrow another Billion and then their cash will actually *increase* which is almost the same as a profit, or at least as close to it as either of them will see for some time.
Gosh darn those NoSpam things are tricky for fellas like us.
Lol, that angry name caller seems to have left. He has no valid argument in this matter so he resorts to name calling and calling out typos. No credibility whatsoever. Seems like a lackey for mgmt. They can't win this debate. Fraud occurred and they continue to protect those who perpetrated it. DNDN can never move forward until they separate themselves from the criminals. A director on a company board is a very important position. Mitch Gold is CURRENTLY a director on DNDN's board.
"$1.7 billion in debt". Laughing my ass off at you fucking morons. You morons don't even know the debt level of the company you assholes bash 24 hours a day. You are even more clueless than I thought.
I will provide you with the simple form balance sheet that maybe even you idiots can understand:
http://finance.yahoo.com/q/bs?s=DNDN
The above balance sheet shows clearly how stupid you yahoo morons are. The correct number is on the website you post on all day long and you morons still can not get it right. This tells me you are stupid, dishonest, and corrupt.
I think you are confusing the 1.7 figure with your IQ.
I will provide you with the simple form balance sheet that maybe even you idiots can understand:
http://finance.yahoo.com/q/bs?s=DNDN
The above balance sheet shows clearly how stupid you yahoo morons are. The correct number is on the website you post on all day long and you morons still can not get it right. This tells me you are stupid, dishonest, and corrupt.
I think you are confusing the 1.7 figure with your IQ.
This name caller also doesn't want to discuss legal liabilities the company could have. Insurance balks at paying out money in the case of crimes by management. DNDN IMO is incorrectly not accruing anything toward potential huge legal liabilities that they may have to pay due to the nature of the malfeasance and who committed it. Probably another reason they continue to harbor a criminal on their BOD. Their refusal to acknowledge what they already know about MG will be a failed strategy.
I do not even see where anyone wrote 1.7 billion in debt. If so, I missed it. Either way the poster who claims to be Laughing his Ass Off is obviously an angry troubled person who is not laughing at all. He is obviously frustrated about DNDN's prospects going forward and the fact that people correctly point out that serious crimes took place here and that doesn't just go away without huge expense and loss of credibility of the company. To this day, DNDN continues to protect criminals instead and make shareholder victims pay the legal fees of the perpetrators.
Just to clear up the 1.7 billion issue, that is DNDN's accumulated losses since inception. Those losses have already hit the earnings statement. It is not their debt. Their debt will be what they owe bondholders. They are underwater on the bond offering because they are burning cash. IMO in about 6 months WHEN they are still burning cash, they would need to do another shelf offering or another bond offering. Both options are basically not realistic IMO and that is why BP is waiting DNDN out until they have no other options but to sell very cheaply.
Any buyer is also going to have to consider the massive legal liabilities this company may have. Insurance has already paid one suit and IMO they will balk at paying 100's of millions when they see what happened and who was responsible. These suits are real and legit and have 100% merit despite DNDN using boilerplate language to the contrary that every defendant company including Enron says.
Game over for D'Enron. Gold's illness of greed destroyed a once proud company.
Just to clear up the 1.7 billion issue, that is DNDN's accumulated losses since inception. Those losses have already hit the earnings statement. It is not their debt. Their debt will be what they owe bondholders. They are underwater on the bond offering because they are burning cash. IMO in about 6 months WHEN they are still burning cash, they would need to do another shelf offering or another bond offering. Both options are basically not realistic IMO and that is why BP is waiting DNDN out until they have no other options but to sell very cheaply.
Any buyer is also going to have to consider the massive legal liabilities this company may have. Insurance has already paid one suit and IMO they will balk at paying 100's of millions when they see what happened and who was responsible. These suits are real and legit and have 100% merit despite DNDN using boilerplate language to the contrary that every defendant company including Enron says.
Game over for D'Enron. Gold's illness of greed destroyed a once proud company.
Just to continue further, although this 1.7 billion is not debt it is still an indication of solvency or lack therof. DNDN would have to earn 1.7 billion just to have zero retained earnings. When DNDN a few months ago was listed as a company with a very high chance of bankruptcy, there is no doubt the lady who was mentioning it was looking at how large the deficit was combined with no legitimate timetable on when the company might turn a profit to begin reducing that deficit. GS acted surprised at her statement and mentioned the cash on hand but of course made no mention of the retained earnings deficit.
"1.7 billion is not debt it is still an indication of solvency or lack therof"
It has nothing at all to do with the solvency of the company. Not one bit at all. You have no idea what you are talking about. An accumulated deficit has absolutely nothing to do with the financials obligations of the company. The company has about as much debt as it does cash.
It has nothing at all to do with the solvency of the company. Not one bit at all. You have no idea what you are talking about. An accumulated deficit has absolutely nothing to do with the financials obligations of the company. The company has about as much debt as it does cash.
You are flat out lying. Why would you post untruths? I stated that it is not debt (obligation). I stated that it is negative equity. On a balance sheet, Assets = Liabilities + Equity. Negative equity or negative retained earnings has everything to do with how solvent a company is. Dendreon's equity is negative 1.7 billion. Greg Schiffman, the AICPA, every CFO in America and every accountant in America would tell you that equity is a measure of solvency.
Listen man, I may be opinionated but I would NEVER post anything here that I am fuzzy about or thought was untrue. Why would you continue to lie and distort the truth? Is it because you can not win a debate fairly? Do you say things thinking that the person you are talking to won't know so you throw it out to see if it would stick? You are a liar man and lying is the ONLY way you can defend D'Enron and you know it.
Current D'Enron director Mitch Gold lied to shareholders and you lie to readers of this bulletin board. Every one of your lies will be called out as everyone one of Gold's lies will be called out by gov't prosecutors.
Wow, do you even read what you write? Dendreon can pay all of its debt as you say. If Dendreon sold all of its assets and paid all of its debt do you know what would be left? Thats right. A deficit of 1.7 billion. When analyzing solvency we can't just look at assets and liabilities. The equity section of a balance is the cumulative amount of earnings a company has earned over its existence. The losses every quarter add up cumulatively. Those losses don't go away. Conversely, when a company earns income every quarter that also goes to equity. You wouldn't want that to go away would you?
Lots of startups have negative equity. It is allowed by GAAP. The whole dot.com bubble was companies with negative equity. The idea was to become viable and earn lots of money to eat into that deficit and at some point have positive equity. Most of those companies didn't last more than a few years.
The solvency of a company can be measured by how much equity or negative equity a company has. With all of the unknowns this company has about revenues and COGS, I submit that 1.7 billion is a lot of negative earnings to overcome. It can happen, but when evaluating this company objectively, this is not a company with hidden value. It is what it is. You can continue to drink the Kool-Aid but your post was ridiculous and misleading.
your quote "On a balance sheet, Assets = Liabilities + Equity."
Dendreon 3/31/12 balance sheet:
http://finance.yahoo.com/q/bs?s=DNDN
which provides:
Assets = $941,958,000
=
Liabilities = $662,432,000
+
Equity = $279,526,000
Got it now r*****? Stop posting nonsense.
Dendreon 3/31/12 balance sheet:
http://finance.yahoo.com/q/bs?s=DNDN
which provides:
Assets = $941,958,000
=
Liabilities = $662,432,000
+
Equity = $279,526,000
Got it now r*****? Stop posting nonsense.
Give Mr. Angry, our CFO a break.
Under the company's Pump & Dump leadership, we've lost $1.7B and owe $650M, but we've got cash for the payroll for about 2 years.
It's working for heaven's sake.
Anyone who questions the company's profitability needs look no further than the posts about Gold and Hamm. This company has made them a lot of money!
What could be wrong with a company that has the first drug that cures cancer and has made two great men like this fabulously wealthy?
Yours Truly,
The Bulgarian Ambassador to D'Enron
Under the company's Pump & Dump leadership, we've lost $1.7B and owe $650M, but we've got cash for the payroll for about 2 years.
It's working for heaven's sake.
Anyone who questions the company's profitability needs look no further than the posts about Gold and Hamm. This company has made them a lot of money!
What could be wrong with a company that has the first drug that cures cancer and has made two great men like this fabulously wealthy?
Yours Truly,
The Bulgarian Ambassador to D'Enron
For the first time I will call you a name. You are an angry idiot who is trying to lie and mislead. Your lies will be called out every time.
On the 5/7/12 10Q signed by John Johnson and Greg Schiffman under Management Discussion and Analysis of financial condition:
"We have incurred significant losses since our inception. As of March 31, 2012, our accumulated deficit was $1.7 billion. We have incurred net losses as a result of research and development expenses, clinical trial expenses, contract manufacturing and facility expenses, costs associated with the commercial launch of PROVENGE and general and administrative expenses in support of our operations and research efforts. We anticipate that near term we will continue to fund our ongoing research, development and general operations from available cash, including proceeds from our January 2011 convertible notes offering, and revenue generated from commercial sales of PROVENGE. However, there can be no assurance that available cash and cash generated through current operations will be sufficient to continue to conduct our operations and expand according to our business plans."
Accumulated deficit is negative retained earnings. For your convenience, I will also include the legal proceedings section of the 5/7/12 10Q as relating to civil lawsuits from shareholders and Federal Investigations:
ITEM 1. LEGAL PROCEEDINGS
The Company and three current and former officers are named defendants in a consolidated putative securities class action proceeding pending in the United States District Court for the Western District of Washington (the “District Court”) under the caption In re Dendreon Corporation Class Action Litigation, Master Docket No. C 11-1291 JLR. Lead Plaintiff, San Mateo County Employees Retirement Association purports to state claims for violations of federal securities laws on behalf of a class of persons who purchased the Company’s common stock between April 29, 2010 and August 3, 2011. A consolidated amended complaint was filed on February 24, 2012. In general, the complaints allege that the defendants issued materially false or misleading statements concerning the Company, its finances, business operations and prospects with a focus on the market launch of PROVENGE and related forecasts concerning physician adoption, and revenue from sales of PROVENGE as reflected in the Company’s August 3, 2011 release of its financial results for the quarter ended June 30, 2011. The Company and other defendants filed a motion to dismiss the consolidated amended complaint on April 27, 2012. We cannot predict the outcome of that motion or of these lawsuits; however, the Company believes the claims lack merit and intends to defend the claims vigorously.
Related to the securities lawsuits, the Company also is the subject of stockholder derivative complaints generally arising out of the facts and circumstances that are alleged to underlie the securities action. Derivative suits filed in the District Court were consolidated into a proceeding captioned In re Dendreon Corp. Derivative Litigation, Master Docket No. C 11-1345 JLR; others were filed in the Superior Court of Washington for King County and have been consolidated into a proceeding captioned In re Dendreon Corporation Shareholder Derivative Litigation, Lead Case No. 11-2-29626-1 SEA. The complaints all name as defendants the three individuals who are defendants in the securities action together with the other members of the Company’s Board of Directors. While the complaints assert various legal theories of liability, the lawsuits generally allege that the defendants breached fiduciary duties owed to the Company in connection with the launch of PROVENGE and by purportedly subjecting the Company to potential liability for securities fraud. The complaints also include claims against certain of defendants for supposed misappropriation of Company information and insider trading. The stockholder derivative complaints are all the subject of stipulated orders staying proceedings until the District Court rules on the motion to dismiss the consolidated amended complaint in the securities action. While the Company has certain indemnification obligations, including obligations to advance legal expense to the named defendants for defense of these lawsuits, the purported derivative lawsuits do not seek relief against the Company. The Company has also become aware that the Securities and Exchange Commission (“SEC”) has commenced a formal investigation, which the Company believes may relate to some of the same issues raised in the securities and derivative actions. The ultimate financial impact of these various proceedings if any is not yet determinable and therefore, no provision for loss, if any, has been recorded in the financial statements. The Company has insurance that it believes affords coverage for much of the anticipated costs of these proceedings, subject to a $1.5 million self-insured retention and the policies’ other terms and conditions."
The Equity of Dendreon is $279,526,000, Dendreon is solvent and you are a fucking r*****. You do not even understand the most basic of accounting. Add $1,943,871,000 in Capital Surplus to your $1.7 billion in negative retained earnings and what do you get? All you know how to do is post nonsense to demonstrate how ignorant you are. You are nothing but a little rodent from the yahoo board that understands nothing. What did your mommy show you how to copy and paste today?
Your anger is scary. It is scary that you can get so angry over bulletin board posts. Something is truly not right with you. If you work for DNDN then it is more proof of the trash and low quality that would remain at such a train wreck of a company. For you to name call when you are the person who is completely clueless is sad and shameful. You distort, deceive and lie in every one of your posts. Most importantly you should look into why you would become so enraged over a debate on a bulletin board.
Another lie you are spouting is that I said DNDN is insolvent. The only thing I said is that negative retained earnings is an important indication of solvency or lack therof. The 1.9 billion you are referring to is additional paid in capital. Additional Paid in capital is NOT an important indication of solvency because it only indicates how much investors paid over par for the stock. It does not give any type of indication about future earnings or if the company will ever be able to get out of the 1.7 billion dollar deficit in retained earnings.The deficit tells you that the company has lost 1.7 billion dollars through its operations and it tells you it will have to earn 1.7 billion dollars in income just to have zero retained earnings.
Anyone trying to predict what will happen with a company in the future would not give a second thought to additonal paid in capital. Additional paid in capital is not a predictor of success. It gives an indication of how much more money a company can lose before a bankruptcy or liquidation. Retained earnings (whether positive or negative) is about income.
Some company's of course have overcome deficits as large as 1.7 billion. A few of the dot.com company's that had a viable product and good margins on their product and they did it. Sadly DNDN doesn't have the product or the margins to do it and they will be forced to sell the company on the cheap. Big Pharma is waiting them out until they get really desperate which is not far off.