Mitch Gold--Did you have anyting to do with DNDN's bankruptcy?

Quote






This is what one of my old bosses used to call "believing in our own lies". If Provenge had hit the multi-billion sales estimates that were being thrown around in 2011, financing the expansion with low cost convertible debt would have looked like a genius move and everybody would be holding ticker tape parades for Mitch Gold. Dendreon believed its own lie.

Reality did not work out as expected, the debt killed the company, and Mitch Gold is the scapegoat even though that is not 100% fair. In reality, anybody who bought into the sales forecasts back in 2011 is partly to blame for the result and that includes the entire board of directors and all of the senior finance personnel; those guys should have known better than to load up what was still an unproven, early stage company with fixed obligations.
 






Anonymous said:
This is what one of my old bosses used to call "believing in our own lies". If Provenge had hit the multi-billion sales estimates that were being thrown around in 2011, financing the expansion with low cost convertible debt would have looked like a genius move and everybody would be holding ticker tape parades for Mitch Gold. Dendreon believed its own lie.

Reality did not work out as expected, the debt killed the company, and Mitch Gold is the scapegoat even though that is not 100% fair. In reality, anybody who bought into the sales forecasts back in 2011 is partly to blame for the result and that includes the entire board of directors and all of the senior finance personnel; those guys should have known better than to load up what was still an unproven, early stage company with fixed obligations.
Click to expand...

It is 99% fair, with Brewer and the BoD responsible for enabling a corporate psycopath. OJ Simpson believe his own lies. That does not mean he is not a murderer/criminal.

About the debt, Gold set up his stock sales program a month before the debt was made official in January 2011. A secondary would have lowered share price significantly. Gold sold millions before pulling the guidance and first telling investors of the cost density issue. He knew all along that 93k had to be laid out before reimbursement kicked in. Hopefully this bankruptcy speeds up the wheels of justice for Gold and others.
 












Anonymous said:
In reality, anybody who bought into the sales forecasts back in 2011 is partly to blame for the result
Click to expand...

Which sales forecasts? The ones that those DNDN employees responsible for forecasts came up with that never reached the public or those that Gold made up based on his own depraved imagination?
 
























Anonymous said:
You people need to get a life and stop blaming others
Grow up
Click to expand...

Huber was blamed for lying. According to her, Gold was a chief blamer. The law caught up to her. People are blaming him for lying among other things. How is blaming Mitch different than him blaming Huber? Clearly you will not respond.
 






























Top Bottom
Back
Quote