Some thoughts about current situation...

Did MG remain on the Board of Directors because if he left the company completely, Dendreon would have to answer questions about why he is no longer there? Answering questions about why he is no longer there would implicate the Board in failing to stop whatever activity lead to the dismissal. It almost seems as if this is a form of attempting to obstruct justice for the Board. It seems as if he is using the company as a shield and the board is using him as a shield. It's a truly evil symbiosis IMO.

 

I think they are going with the: "it was just exuberance, nothing criminal". After all, they build a capacity for $1.5B in sales and left it open for a year after it was clear they wouldn't need the 3rd facility, well, forever. That's the problem with having a BoD that has gotten sucked into a criminal mode of thinking. They leave that 3rd facility open when they know they don't need it because they get it in their mind that it makes them look better. Now, the only way they'll look better is to leave the board without leaving, e.g. bankrupting the company. Some other guy keeps claiming 2 quarters, while they need it to be that fast, I don't think they'll make it.

 

I listen to your theory about the exuberance defense and while I always respect your take on things, there are laws about guidance and projections. Guidance must have a reasonable basis and it will be proven to a jury in both the criminal case and the class action cases that the guidance was baseless. There are many witnesses that know this guidance never had a reasonable basis and there were many warnings, including a very public warning from Brad Loncar. This baseless guidance originated in November 2010 (2 months before a 620M bond offering based on false pretenses) was not removed until August 2011. All of this is criminal and will be proven in both civil and criminal courts.

Your theory about the Board wanting this shut down yesterday is absolutely correct IMO.

 

I think you are an obsessed mentally ill idiot having a conversation with yourself. Easy for anyone to see your lying campaign.

Not only are your activities libelous and slanderous, you and your rat pack anti-Dendreon buddies on this board are directly responsible for shortening the lives of some prostate cancer patients. I know you and your buddies will deny having any impact and claim that your behavior has not harmed the life of a single prostate patient and that I am exaggerating things. The fact is though that your lies and distortions have directly led to and will in the future lead to shorter lives of some prostate cancer patients bychasing away sales reps. I know that you and your rat pack buddies could give two shits for the consequences of your actions. All you care about is doing as much damage to Dendreon so that you can make money on your stock trades through spreading lies and misinformation about the company. You are a complete scumbag and coward.

 

Find one lie in this whole thread besides your post and point it out. You are a lazy fraud and a coward. You copy and paste the same exact resonse here at all hours, day and night all in the name of chasing losses that you will never get back. You damage cancer patients with every one of your lying posts that protects a criminal company that sells a cancer therapy that needs to be in the hands of an honest company.

 

I agree, it won't be a valid defense, but this is clearly a BoD that is trying to deny things and it's hard to imagine any other denial strategy they could have.

 

Time to take off your drama queen tiara 'tricksy'. It's Senator Ryan's turn

 

Exactly right and the perpetrators and multiple witnesses know that $350M-$400M and $175M-$200M 4th qtr was a baseless made up number and know there is no possible credible defense. Denial right now is just about negotiating strategy. Will never come down to a defense "'strategy" because deals will be signed. Will be interesting to watch as we get close to indictment time. That's when deals will be signed.

 

Will the restructuring really cost $250M? How will they get rid of the other $300M?

What is the critical level of cash where the auditors have to say they aren't a going concern?

Who will that matter with? They don't have federal grants. Will suppliers insist on cash up front? (Isn't that already true?)

What are the critical steps the board will have to pass through to close the company?

Can JPMorgan do anything to get some of the money back for their clients? Is letting the board run it into the ground quickly to sell IP when there is still some value their best strategy now as well?

too bad there aren't any shareholders on the board to look out for those suckers.

 

In February 2011, Brad Loncar an activist shareholder asked to be on the Board.

He also devoted a whole chapter warning the Board about Revenue Guidance.

Dendreon read and ignored his letter and only when it became public in April 2011, they invited him to Seattle. They continued to ignore it. MG even said as late as the June 21 shareholder meeting that Dendreon would have $350M-$400M in revenues in 2011.

 

It will matter with JP Morgan who underwrote the bonds. It will matter with shareholders who know BP would then be in a position to offer next to nothing for the company at a time that the company may have no choice but to sell. It will also matter with the CFO who seems to think (at least from past experience) that the number is over 200M. Any new CFO would understand this as well. Dendreon had about $250M in January 2011 when they raised 600M based on the false pretense of baseless revenue guidance.

 

Doubt the restructuring would cost that much, but we will never find out. Stick a fork in D'Enron.

 

This board infested with posts from a deranged fool. His life would be nothing if he could not attack provenge, prostate cancer patients, dendreon, or dendreon shareholders. He suffers from Borderline Person Disorder where he babbles complete nonsense about bankruptcy, D'Enron, BODs, FBI investigation, cash balances, and solvency 24 hours a day. He repeated the exact same nonsense here multiple times daily for the past year. Absolutely none of his insane rants have come to fruition. If it where not for these babbling posts, he would spend his entire day staring at a blank wall sitting in his own feces. Basically, his life is a waste of everyone's time. He has been exposed as a simple minded short stock trader with no conscious and who could care less about prostate cancer patients or Dendreon employees. He seeks to profit from any damage he causes the company. He has intentionally chased Dendreon employees away and has blood on his hands.

 

Stop talking that way about the Ex-CEO of D'Enron. Not nice. Try to put a more positive spin on him.

 

This is a board for Dendreon employees. Most everyone here is not trading the stock, long or short. Every one of your posts on a stock bulletin board exposes the fact that you are a trader in Dendreon stock who is long the stock and you think MG is a criminal. You are a stock trader. You are not on a moral high ground any more than any employee who knows the truth about this company because you happen to be long the stock. Go back to your stock board and stop projecting your own issues here.

 

Grow up

 

Board of Directors buried themselves. They let him remain as CEO after the wrongdoing was exposed in August 2011. They all took a bonus on January 5, 2011 while he was CEO and a couple of weeks later they replaced him. That is probably when they first became aware they were caught. Aside from being caught, it seems they had no intention of replacing him.

 

I joined the finance department a couple years agol My stock options all vest in 14 months. I was hoping that the rumor of a 10-1 reverse split is true so they'd get above 10.

 

Unfortunately for you, there won't be a 14 months for Dendreon. You did your best. Greed from the very top prevented a partnership and led to crimes. Maybe provenge will have a decent future with an honest company.

 

I work for the accounting department and a sales rebound is happening. The poster claiming a reverse split is lying. There are no such plans and would not effect exercise price as options are adjusted as well. The amount of lies posted here is amazing.