Author Topic: MDXG - MiMedx Group  (Read 3063 times)

Cigarbutt

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Re: MDXG - MiMedx Group
« Reply #20 on: December 06, 2018, 11:32:57 AM »
Well, I like to live dangerously so I got in here again at 1.25 with a very, very tiny position.
...
so let's roll the dice.
Well, I nailed it once, so I'm probably a little more eager to try it again. Oh well.
I will say: "Wow!"
This episode reminds me of when we watch the TV show that displays home-made videos and that ends up showing the "best of" consisting of a series of "fails" and a conclusion with a "success". With that last "success", one never knows if this was the only take and some ability is often involved but I always say Wow! (with mixed feelings).
But it's good entertainment.


alwaysdrawing

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Re: MDXG - MiMedx Group
« Reply #21 on: December 06, 2018, 11:45:31 AM »
Well, I nailed it once, so I'm probably a little more eager to try it again. Oh well.

Daytrading fraudulent pink sheets stocks is not the way I would try to compound wealth.  The stock popped and you were "right" but it's down a lot since then, and will continue to go lower.

Good luck on your trade.

I don't disagree. Trading has just as much to do with sentiment and probability as it does with the actually vehicle. See SharperDinegaan's BTC trading last year. You can flip a bag of shit if the entry is right and you have your target in site.

I won't lie though, my core positions are concentrated, and boring... so there a little bit of an entertainment value here for me too. I'm aware of all the traditional value investor no-no's I'm doing, but its my money, it's an irrelevant amount, and to be fair, the way a lot of great investors have spent trying to compound wealth, ie sitting on huge piles of cash for the past decade, hasn't exactly been a winning strategy either.

Trade how you feel, but pumping a fraudulent penny stock by posting to a value investing forum (or any forum) is not within the spirit of this board (in my opinion).

I only contributed to this thread at all because I think it's important that people know that there are serious issues going on with this security--financials need to be restated back to 2012, CEO/CFO/C-Suite execs fired for fraud, Auditor resigned with no new auditor named (and no disclosure yet of any disagreements with management), layoffs, liquidity issues, no current disclosure of cash or share count, allegations of channel stuffing, de-listing without disclosure of the reason, etc.  This name is simply un-investable as a long idea.

If I were an admin, I would lock this thread.  This is simply not a viable investment idea for people who were not previously involved in this name.

Gregmal

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Re: MDXG - MiMedx Group
« Reply #22 on: December 06, 2018, 11:57:55 AM »
Well, I nailed it once, so I'm probably a little more eager to try it again. Oh well.

Daytrading fraudulent pink sheets stocks is not the way I would try to compound wealth.  The stock popped and you were "right" but it's down a lot since then, and will continue to go lower.

Good luck on your trade.

I don't disagree. Trading has just as much to do with sentiment and probability as it does with the actually vehicle. See SharperDinegaan's BTC trading last year. You can flip a bag of shit if the entry is right and you have your target in site.

I won't lie though, my core positions are concentrated, and boring... so there a little bit of an entertainment value here for me too. I'm aware of all the traditional value investor no-no's I'm doing, but its my money, it's an irrelevant amount, and to be fair, the way a lot of great investors have spent trying to compound wealth, ie sitting on huge piles of cash for the past decade, hasn't exactly been a winning strategy either.

Trade how you feel, but pumping a fraudulent penny stock by posting to a value investing forum (or any forum) is not within the spirit of this board (in my opinion).

I only contributed to this thread at all because I think it's important that people know that there are serious issues going on with this security--financials need to be restated back to 2012, CEO/CFO/C-Suite execs fired for fraud, Auditor resigned with no new auditor named (and no disclosure yet of any disagreements with management), layoffs, liquidity issues, no current disclosure of cash or share count, allegations of channel stuffing, de-listing without disclosure of the reason, etc.  This name is simply un-investable as a long idea.

If I were an admin, I would lock this thread.  This is simply not a viable investment idea for people who were not previously involved in this name.

Well, I’m not quite sure where the animosity is coming from but a couple things. I’ve been completely transparent about what is essentially just my opinion. Pumping? Lol come on man, that’s ridiculous.

Second, this is something you state matter of factly, is fraudulent. Whereas I’ve straightout said, I don’t know. But this is also a value idea on a couple other higher end places, including VIC.

So, my apologies to anyone I’ve offended. To think I need to apologize for discussing what is at the least, an interesting situation, is absurd. The community imo is useful for two things, idea generation, and entertainment. And yet it’s anazing to see how many people get their panties twisted because they see a political opinion they disagree with or an investments discussion that no one forces them to read. Perhaps I’m better off wallowing underwater on shit like JD, FNMA, FFH and SHLD because it’s what everyone else is doing...

Gregmal

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Re: MDXG - MiMedx Group
« Reply #23 on: December 06, 2018, 01:36:13 PM »
Well, I like to live dangerously so I got in here again at 1.25 with a very, very tiny position.
...
so let's roll the dice.
Well, I nailed it once, so I'm probably a little more eager to try it again. Oh well.
I will say: "Wow!"
This episode reminds me of when we watch the TV show that displays home-made videos and that ends up showing the "best of" consisting of a series of "fails" and a conclusion with a "success". With that last "success", one never knows if this was the only take and some ability is often involved but I always say Wow! (with mixed feelings).
But it's good entertainment.

I didn't see your post but will comment and then I'm done on this name.

The comment is somewhat tongue in cheek but if it brings you entertainment, great. I can't imagine that's not at least partially why we're all here.

On MDXG. The first idea was something I found interesting enough to decide it worth designating capital to within the parameters of what I allow myself to speculate with. The second time things came around the specific stock was the same, the setup quite different, the information available- slightly different, and the capital available, larger...

As such, I looked at the idea and felt after the market adjusts to the new information, that I still think there is a worthwhile place for me to take what is IMO a well adjusted roll of the dice. There is a pretty good chance technically that 1-1.3 was part of the deadcat bounce and this is under $1 shortly. I FULLY EXPECT TO LOSE MY ENTIRE INVESTMENT AND SO SHOULD ANYONE ENTERING THIS TRADE. Consensus everywhere is that this is a 0 because it is a fraud. (IMO fraud does not necessarily mean zero, but w/e) I am ok with the risk here, and at the least thought worthwhile discussion could potentially emerge as it does elsewhere around ideas, but apparently not.

I mean seriously, WTF is with the whiny and hostile attitude alwaysdrawing? I didn't see you losing your shit on all those "chumps" pumping FNMA even though it's clearly worthless...

I've been amazed frankly, at how many super sensitive p**** exist out there. Everyone gets offended by everything. Especially when it comes to politics and investments ideas, everyone gets so butthurt that someone else might have a different opinion. What's that famous Berkowitz saying? To most here, you'd think it was "Follow the crowds"...

A Dhandho Investor

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Re: MDXG - MiMedx Group
« Reply #24 on: December 06, 2018, 02:39:09 PM »
Gregmal, reading into your first post this definitely did not seem a ‘short term play’ from your side. Based on that post I would have said you sold this more as a long term bet where the ‘risk-reward was heavily skewed to the upside’.

Here we are, the stock 50% lower less than 1 month after your initial post, and you act as if you nailed it?

Sorry, but I agree that this idea does not belong on a value investing board.

Gregmal

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Re: MDXG - MiMedx Group
« Reply #25 on: December 06, 2018, 02:55:20 PM »
Gregmal, reading into your first post this definitely did not seem a ‘short term play’ from your side. Based on that post I would have said you sold this more as a long term bet where the ‘risk-reward was heavily skewed to the upside’.

Here we are, the stock 50% lower less than 1 month after your initial post, and you act as if you nailed it?

Sorry, but I agree that this idea does not belong on a value investing board.

Except for the stock rocketing 60% higher two days after the post.

Again, it would appear to me, on this board, nailing it is buying some value investor consensus stock and riding it into oblivion as you all feed into each other’s biases...like there is shame in making money on a trade... to rich.

Again, not on a value board? Go talk Tesla or FNMA.
« Last Edit: December 06, 2018, 03:03:26 PM by Gregmal »

Cigarbutt

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Re: MDXG - MiMedx Group
« Reply #26 on: December 06, 2018, 03:14:37 PM »
FWIW, I would say that this "idea" was a candidate for discussion and wonder if limitations may not hinder further tough discussions that may be necessary for other names.

Earlier in this thread, a poster disclosed a short position on the stock and this is the kind of work that is sometimes necessary to facilitate price discovery on the way down. The white-knuckle moment displayed by Mr. Cohodes (link submitted by JohnHjorth) suggests that it does not need to get so personal but red flags are red flags and a short seller needs to buy from somebody.

Having said that, apologies to Gregmal for the following:

In sensitive discussions, you tend to cross red lines and, in this case, you did not cross a red line but the elements that you described (even if "worked" or will "work" again in terms of a realized gain) were weak for a value-based board. I can live with the cavalier attitude (simple and easy) but submit that you should have substantiated your case more solidly in this controversial name, especially as an opening poster.

alwaysdrawing

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Re: MDXG - MiMedx Group
« Reply #27 on: December 07, 2018, 01:50:32 PM »
EY Resignation Letter

https://www.sec.gov/Archives/edgar/data/1376339/000119312518344985/d628135d8k.htm

Quote
During this same period, there were the following “reportable events,” as that term is defined in Item 304(a)(1)(v) of Regulation S-K:

 

    •       
EY advised the Company that the internal controls necessary for the Company to develop reliable financial statements do not exist;

 

    •       
Although EY could accept representations from the current Interim CEO and Interim CFO based on their knowledge, EY advised the Company that EY is unable to rely on representations from them because, as of the date of the resignation, the current Interim CEO and Interim CFO, in turn, would have needed to rely on representations from certain legacy management personnel still in positions that could affect what is reflected in the Company’s books and records. At the time of EY’s resignation, the Audit Committee’s independent investigation was still ongoing;

 

    •       
EY advised the Company of the need to significantly expand the scope of its audit, due to material allegations of inappropriate financial reporting, material allegations of noncompliance with laws and regulations, the findings to date from the independent investigation conducted by the Audit Committee into these allegations, and the lack of internal controls necessary for the Company to develop reliable financial statements. EY had not completed the necessary work in connection with this expanded audit scope at the time of its resignation; and

 

    •       
EY advised the Company that information has come to EY’s attention that EY has concluded materially impacts the reliability of previously issued financial statements, and the issues raised by this information have not been resolved to EY’s satisfaction prior to its resignation.

John Hjorth

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Re: MDXG - MiMedx Group
« Reply #28 on: December 07, 2018, 03:39:13 PM »
Holy Moly! [ 0_0 ] I don't recall to have seen an auditor resignation letter like this - ever - for a listed company. Tim's post comes to mind.

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Gregmal

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Re: MDXG - MiMedx Group
« Reply #29 on: Today at 09:07:07 AM »
Out at 1.65. As they say here, Cheers!