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TOPIC: Present Organization and CTX2

Present Organization and CTX2 11 Dec 2017 12:04 #10747

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At the last CC, Hedrick mentioned how the present organisation roughly looks like :

Specifically, we reduced our headcount from 70 to approximately 35 employees, which are positioned equally throughout areas of business, about a 1/3 are in San Diego, about a 1/3 are in Japan and about 1/3 are in San Antonio.


The Cytori homepage, has not been updated to this new situation, so still shows how it looked like before the re-organisation:

At the end of 2016, Cytori had 65 full-time employees based in Japan, the United Kingdom, and the United States. These employees are deployed across the following functional areas and many hold advanced PhD and MD degrees:
31 – research and development
18 – management, finance, and administration
9 – sales and marketing
7 – manufacturing
Cytori plans to grow its organization, particularly in its San Antonio location, in support of its recently acquired nanomedicine assets.


Several things come to mind-

First- the planned move to Lusk Boulevard (an old Broadcom building I believe), which was due to happen last October, never happened. All filings after that date still show Callan Road. So - they must have rented a part of the building, since the lease expired in October.
Second: its unlikely they have any manufacturing employees left- just stock. Roughly 3,5 Mio $ worth, even though they wrote of >400K in the last quarter on obsolete gear. So- it is unlikely any CTX2´s will be actively marketed anywhere or produced.
Third- of the say- 12 employees left at Callan Road, 5 are likely the top brass- Hedrick, Fraser, Girao, Rice and Havranek. BARDA does require still 2-3 scientists (wonder who- Philippe Foubert must be one of them to liaise with France) - 2-3 support personnel (reception/secretaries etc) and 2-3 accounting/ customer service employees.

Bad times- something has to happen.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Present Organization and CTX2 11 Dec 2017 13:48 #10748

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FAS Is TAP still working with CYTX?

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Present Organization and CTX2 11 Dec 2017 14:00 #10749

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fas wrote: At the last CC, Hedrick mentioned how the present organisation roughly looks like :

Specifically, we reduced our headcount from 70 to approximately 35 employees, which are positioned equally throughout areas of business, about a 1/3 are in San Diego, about a 1/3 are in Japan and about 1/3 are in San Antonio.


The Cytori homepage, has not been updated to this new situation, so still shows how it looked like before the re-organisation:

At the end of 2016, Cytori had 65 full-time employees based in Japan, the United Kingdom, and the United States. These employees are deployed across the following functional areas and many hold advanced PhD and MD degrees:
31 – research and development
18 – management, finance, and administration
9 – sales and marketing
7 – manufacturing
Cytori plans to grow its organization, particularly in its San Antonio location, in support of its recently acquired nanomedicine assets.


Several things come to mind-

First- the planned move to Lusk Boulevard (an old Broadcom building I believe), which was due to happen last October, never happened. All filings after that date still show Callan Road. So - they must have rented a part of the building, since the lease expired in October.
Second: its unlikely they have any manufacturing employees left- just stock. Roughly 3,5 Mio $ worth, even though they wrote of >400K in the last quarter on obsolete gear. So- it is unlikely any CTX2´s will be actively marketed anywhere or produced.
Third- of the say- 12 employees left at Callan Road, 5 are likely the top brass- Hedrick, Fraser, Girao, Rice and Havranek. BARDA does require still 2-3 scientists (wonder who- Philippe Foubert must be one of them to liaise with France) - 2-3 support personnel (reception/secretaries etc) and 2-3 accounting/ customer service employees.

Bad times - something has to happen



It looks so bad that only a fool or genius would have participated in the RO, and right now the SP is suggesting the former - however, the game is not over yet - good luck to all you genii - LOL

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Present Organization and CTX2 11 Dec 2017 14:55 #10751

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franshei wrote: FAS Is TAP still working with CYTX?


No idea- I am not in touch with anyone at Callan Road, but I am reaching out, since somebody has to pick that up.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Present Organization and CTX2 11 Dec 2017 15:05 #10752

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Well it was Sept. 1st they released the following:
***The Company and its advisors, TAP Advisors, will consider a range of options aimed at enhancing shareholder value, including a sale of the Company, a reverse merger, a business combination or a sale, license or other disposition of corporate assets of the Company, as well as potential opportunities to raise capital in the shareholder’s best interest.***

Other than the RO...its only been a little over 3 months...I would think they are still somehow involved although interest likely quite limited. I think the only real shot is the Azaya assets. I still see Japan as having limited value. Again, with their backs against the wall ...zero leverage !!!

Good news is $0.25 held.
Barely, but held.
Shorting action was alive today, imho.

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Present Organization and CTX2 11 Dec 2017 15:12 #10754

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myownhedgefund wrote: Well it was Sept. 1st they released the following:
***The Company and its advisors, TAP Advisors, will consider a range of options aimed at enhancing shareholder value, including a sale of the Company, a reverse merger, a business combination or a sale, license or other disposition of corporate assets of the Company, as well as potential opportunities to raise capital in the shareholder’s best interest.***

Other than the RO...its only been a little over 3 months...I would think they are still somehow involved although interest likely quite limited. I think the only real shot is the Azaya assets. I still see Japan as having limited value. Again, with their backs against the wall ...zero leverage !!!

Good news is $0.25 held.
Barely, but held.
Shorting action was alive today, imho.


Decent support at .25 - VWAP for today was .2578 - my guess is that we hold at or near the .25 level and slowly migrate to .30 or higher by year-end - JMHO.

PS - CYTX not the only problem child - ATHX down another .11 at 1.67 - what's up there??

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Present Organization and CTX2 11 Dec 2017 15:50 #10755

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I would agree that a area of support is trying to form and a $0.25 close wont violate that.
Since we didn't hit that level until late in the day it is hard to say how strong it will be (.25) They weren't showing huge support so far. We will see.
Other technical factors, by my view, point to lower is easily possible. Still no need to change my short term worst case thinking of $0.22.
There is no bullish case technically until we get back above $0.32...then reassess.

I could care less about ATHX...they may get some support at $1.60. They may need to raise funds soon. I really don't follow other than when its posted here.

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Present Organization and CTX2 11 Dec 2017 19:14 #10759

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Hedge and Rodney

I think we heard of TAP maybe for the first time in September. It is very possible TAP has been consulted for much longer time.

1. Two years or so ago, shortly after Harris joined the company, Hedrick and Girao announced that their 2018 goal was to break even. Harris did not seem to agree totally (he seemed to accept this goal unwillingly).
2. I think even with scleroderma FDA/EU approvals and profitable Japan cell therapy business, this break even goal would be very difficult to achieve. CYTX's cell therapy is really a niche. This is not bad, because I see many other stem cells r/d companies will not work out in big indications.
3. I think TAP has been brought in and they have also brought in AZA and open door for CYTX into the real pharmaceutical world, with a smaller exposure in the cell therapy (celution system). Physician initiated studies (including some pivotal studies) will continue and Cytori KK will continue to grow at its own pace.

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