New CFO took last company from over $6 to .23c per share

Miao seems like he is experienced, but look what happened to the last company he was part of.

First they hired him in 2014 to PDI, who then sold off a large portion of the company (the CSO division). With remainder of company, they changed the ticker symbol to IDXG. IDXG struggled to make a go, eventually laying off several employees late 2015, then finally letting Miao go early 2016. The stock fell from around 6.00 to .23 during his stay.

check out the Interpace forum from where he used to work...

he gets hired....
http://www.prnewswire.com/news-releases/pdi-inc-announces-appointment-of-graham-g-miao-mba-phd-as-chief-financial-officer-279195181.html

Then 2 yrs later they let him go...
http://cafepharma.com/boards/threads/graham-is-gone-and-the-new-guy-is-making-a-bunch-of-money.592283/

https://www.sec.gov/Archives/edgar/data/1054102/000105410216000089/a8-k_3x2x16.htm

 

Need to dig deeper in your due diligence. To be fair, everything you posted above is true but the stock price decline from his last company was due to a "reverse stock split" in which needed cash to help payoff debt occurred. He had no choice and was the logical action to take to save the company from an operational standpoint.

 

I don't see any history of a stock split with IDXG, where did you get your info?

https://www.stocksplithistory.com/?symbol=idxg

Interpace submitted a proxy to the sec stating they would do a stock split if needed to get back over a dollar, but hasn't happened yet....(and this is after Miao left)
https://www.sec.gov/Archives/edgar/data/1054102/000143774916035069/pdii20160708_defa14a.htm

Interpace is also in current litigations regarding the CSO portion of the company it sold off that Miao was a part of...
https://www.sec.gov/Archives/edgar/data/1054102/000105410216000097/a201510k.htm#sB11F0C2C0423C702D4355A0077A8C31F

 

Maybe you were referring to his job before Interpace, with Delcath Systems between 2011 and 2014, where he was responsible for....
".. all finance-related functions and operations including strategy, financings, investor relations, accounting and financial reporting, corporate and business development, mergers and acquisitions and the legal and human resource departments."

On April 9, DCTH had a 1 for 16 reverse split.
https://www.stocksplithistory.com/?symbol=dcth

DCTH lost almost all of its share value while he was there as well.

 

It appears you are correct. Just assumed a reverse stock split due to the massive decline in stock price. What exactly happened and how can the CFO (who is not at Pernix) be at fault for such a drop. ?

 

Unfortunately, it looks like Miao is up to his old dilution tactics he used over and over in the past

 

Well the good news is we have already hit 0.30$ and we are now at 0.60$ Not much for him to lose lol. Dilution was always the only option if they don't sell the company. Not the CFO's fault, only option. A dilution that fixes the debt problem would actually be good... Only thing that would be bad if not done right is a reverse split. If by november-december were are not above 1$, they will consider it so I will sell definitely sell before that.

The only smart option for everybody now would be to take no risk and sell for under 2$. Buyer would have a good deal at that price and Pernix would solve every problem they have. Funds are not around anymore so they can't cry about having bought above 2$. Sedor has full control to do whatever he wants. They gave him 500 000 shares in option. Hell, if he sells the company for 1.50$-1.75$ in less than 6months, it's an amazing quick pay. Miao probably got similar package.

At 1.50, it's 120M$ for the Co. + debt of 300M$. 420M$ for a company that sells for 130M$ at the moment. They will fire everybody, use their actual sales team which won't cost more. They will probably do a better job in sales than the Pernix team (more experience, better contacts, larger teritories). Let say they sell for 200M$ (could be more), good deal 420M$ for 200M$ sales.