The long awaited Feb 07...

Don’t get emotional but NSM is now a Farewell Meeting.

 

I would throw up seeing top executives with their smiling faces at the upcoming NSM. Nothing but lies and false hope’s in their agenda. Their actions are despicable while we suffer. Let our voices be heard. Let’s speak up and stop the greed.

 

The Executive Leadership will be smiling because they received two bonus checks in one month and a half. They raided the Piggy Bank. They do not care about Akorn, just themselves.

 

Prepaid Retention Bonus 2020 ($39.5M)
1. Doug Boothe $3.6M
2. Jon Kafer $1.15M
3. Brett Novak ???
4. Ron Bruns ???
Did our “YES MEN” - Regional Sales Director’s got bonuses too?

 

Cat is out of the bag. I think it is going to be bankruptcy for sure . Probably a sale could be combined
Akorn = A CON

 

Why are we having this NSM? What a waste of time and money!!!

 

Are you kidding? It’s going to be a BLAST

 

A BLAST? Give us a break. How delusional. NOTHING is new, pathetic agenda.

 

Sell the company fast!

 

We've heard SO MANY lies from JK about FK (that bombed) and now "today, biz is usual", dont worry about anything" while he cashes in HIS big bonus.....and remains clueless that we have to ENDURE RB's sales management style (complete lack thereof, totally out of touch with the real world in the industry/ field) for so long. Really, wtf. Gonna be a snoozer of a NSM.

 

Stay quite and be positive at the NSM if you can. Play the game or you will be terminated. AKORN does not pay severance if you get fired and could be worse when we officially file bankruptcy.

This is a corporate show for the potential buyers for the company. Hope everyone’s ready when doomsday comes. Great to see the Branded Ophthalmics sales teams!

 

When is the NSM?

 

This week. Let the lies begin.

 

To All AKORN Employees.

https://wallmine.com/filing/redirect/12253003?utm_source=stocktwits

 

Worst NSM ever! RB making a fool of himself! Sales Directors acting like puppets!

Get real. The end is near!

 

Agree 100%! RB floggs the sales force claining were not working based on the time of day we get signatures and how many? The moral of the salesforce is already low. And you flog us at a national sales meeting when the company might be going into chapter 11???? Really? Horrible leadership. Absolutely horrible!

 

A must read for all Akorn employees and investors. Please read and be prepared.

http://investors.akorn.com/static-files/8029c265-7c3e-4d42-9830-3d22c0f90f8c

 

The 10K is a must read if you want to know what they aren't going to tell us internally. Here are some interesting excerpts:

• "There is no assurance that we will be able to comply with the covenants in the Second Amended Standstill Agreement and Term Loan Agreement or successfully execute the Sale Process contemplated thereby, creating substantial doubt about our ability to continue as a going concern." - pages 16 and 33
• "For the year ended and as of December 31, 2019, we had a net loss of $226.8 million and negative net working capital of $505.5 million" - page 16
  
• "In connection with the preparation of the financial statements for the year ended December 31, 2019, the Company conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within one year after the date of the issuance of the financial statements. As of December 31, 2019, the Company had cash and cash equivalents of $144.8 million, working capital deficit of $505.5 million and accumulated deficit of $333.9 million. The Company had a loss from operations of $188.1 million and a net loss of $226.8 million for the year ended December 31, 2019." - page 33

 

Why did The BOD approve such large bonuses to Executive Leadership after they lost so much money? The BOD needs to be replaced!!!

 

Greed. Who knows BOD might have a cut of what our leaders received. Speculate. But the recent 10K file gives us a clear picture of Akorn’s condition which they don’t address during town hall meetings, conference calls and emails. They tell us business as usual but have other intentions and obviously it’s to fill their pockets fast. All we can do is prepare for the worst.