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Esekla  

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  • Update: Advanced Cell Technology Interim Results And Shelf Offerings [View article]
    I do find the statements credible. I am firmly convinced Ocata got two new patents on technology that it regards as very promising. Ocata said nothing about the short term fundamental impact, and in my experience, promising biotech patents have virtually none. Given the company's financial position, short-term fundamental impact is undoubtedly where the focus should be. If my tone is too cautious for you, feel free to ignore it (again), but I can't help but be cautious over an announcement like this coming right on the heels of another that tacitly admitted that Ocata couldn't get any institutional funding and has to dilute further via the usual means.
    Feb 26, 2015. 08:46 AM | Likes Like |Link to Comment
  • Update: Advanced Cell Technology Interim Results And Shelf Offerings [View article]
    Ocata has received two patents for Hemangio-derived Mesenchymal Cells:

    http://bit.ly/1LCYUPN

    The press release seeks to differentiate these from typical Mesenchymal Stem Cells, which are generally of no particular value, as commented here:

    http://seekingalpha.co...

    Receiving patents is certainly no guarantee of usefulness, so what will be done with these remains to be seen.
    Feb 25, 2015. 09:17 AM | Likes Like |Link to Comment
  • One Thing Apple Should Do To Preserve Its Market Position [View article]
    Yes, I think it's been shown, that Google, for instance, gives relatively more back to OS than Apple. I think we can all agree that the general state of affairs could (should) be much better. When technology gets parcelled up and walled off, it's bad for all of us. My article on the OpenSSL fiasco that you mention is probably my worst ever, but it still illustrates the importance of staying in touch with OS roots very nicely:

    http://seekingalpha.co...

    The OS community had the problem fixed in a very small fraction of the time it took Cisco to even identify how the problem affected them.
    Feb 24, 2015. 03:43 PM | 1 Like Like |Link to Comment
  • Looking Beyond The Hess Earnings Report [View article]
    It's relevant because booms are sort of an inverse game of musical chairs. All's well while the music plays, but when the boom turns to bust, there's typically no getting out (grabbing a seat) for anyone, at least not before damage is done. Instead, what matters is whether you were early or late into the game. If you were early, you made your profits during the boom, and just do your best to mitigate the damage. If you entered just before the boom goes bust, then you just blew capital on non-performing assets.

    The Bakken has some of the highest break-even levels and Hess built a massive concentration there over the past couple years, as part of its restructuring from past mistakes. That means they've gotten it exactly wrong, yet again. Compare to Conoco, which has been selling off assets in preparation for just such an environment.

    If you look at the latest earnings call

    http://seekingalpha.co...

    you'll see numerous other mis-steps such as buying back 62.8M shares at an average price of $84.39 per share. Even with the temporary bounce back from the cold snap, that's well over a half BILLION dollars in investor equity down the drain from sheer bad decision making.
    Feb 24, 2015. 03:00 PM | Likes Like |Link to Comment
  • GFI Group Comes To Terms With BGC Partners [View article]
    The WSJ has an interesting piece on how GFI management continued to hurt common shareholders even in reaching this deal:

    http://on.wsj.com/17U0BuP

    Honestly, though, common shareholders are pretty much never at the top of the pecking order. Given the magnitude of what was being attempted by Gooch & Co., I think they should be pretty happy with how it turned out
    Feb 24, 2015. 02:46 PM | 1 Like Like |Link to Comment
  • Update: Advanced Cell Technology Interim Results And Shelf Offerings [View article]
    No, they are listing under Nasdaq Global, which is (even) less stringent than Global Select. I don't know if the standards have been recently updated or not.
    Feb 24, 2015. 11:42 AM | Likes Like |Link to Comment
  • Update: Advanced Cell Technology Interim Results And Shelf Offerings [View article]
    I'd never bothered to confirm or deny your listing assertion before, but looking at

    http://bit.ly/1zBb8mi

    it seems they don't need capital. For the Market Value Standard, for instance, a company can pass simply on the value of listed securities without any income or capital.
    Feb 23, 2015. 09:00 PM | Likes Like |Link to Comment
  • Update: Advanced Cell Technology Interim Results And Shelf Offerings [View article]
    Ocata uplists to Nasdaq as of Feb 26:

    http://bit.ly/1BfYJKB
    Feb 23, 2015. 04:11 PM | Likes Like |Link to Comment
  • BGC Partners, GFI reach deal [View news story]
    I don't necessarily disagree regarding the valuation, see comments in my article for why it came in as it did here.
    Feb 22, 2015. 02:24 AM | Likes Like |Link to Comment
  • GFI Group Comes To Terms With BGC Partners [View article]
    I agree, the estimate is a rock bottom valuation, and that's part of why I said my price target is very conservative. Readers of my subscription service got a different price target. This one was changed after multiple interactions with SA editors who, by their own admission, were not particularly informed on the history of the situation, but were steadfast in their desire to only publish this article at the minimum compensation rate. That in turn limited how much length and detail I was willing to go into. So in the end, I just simplified the math and lowered the price target.
    Feb 20, 2015. 06:18 PM | 1 Like Like |Link to Comment
  • Universal Display strikes another OLED lighting license deal [View news story]
    Yes their patents are the real deal, but any reader of my OLED articles already knew that. This is a positive development, but not a substantial one in terms of revenue.
    Feb 20, 2015. 09:34 AM | Likes Like |Link to Comment
  • BGC Partners, GFI reach deal [View news story]
    I'll try to think of it for my upcoming closure article.
    Feb 20, 2015. 08:29 AM | Likes Like |Link to Comment
  • Universal Display strikes another OLED lighting license deal [View news story]
    Note that, unlike the LG deal, this is another development contract and not really anything to get all that excited about.
    Feb 19, 2015. 07:37 PM | 2 Likes Like |Link to Comment
  • Apple's Dirty Little Rare Earth Secret [View article]
    Excellent article, although as you point out, the risk and topic has been around for a long time. I see the situation as being a bit like the cold war. You say that investors and Apple should support North American REE initiatives, but the reality is that nobody in the rich world is going to take the hit for actual REE production (in cost and/or environmentally) while China is willing to do so. Conversely, China isn't going to create a real shortage until that suits it for the long game.

    Nonetheless, you're right about Apple's balance sheet creating a false sense of security. The tendency to weaken suppliers mitigates cash security. Relying on buying hardware technology from others rather than developing it also creates an eventual tipping point, as I address here:

    http://seekingalpha.co...

    That tipping point may be a ways off yet, but my follow up article shows that Apple is continuing rather blindly down that road, as both the company and its investors (judging from many comments) are concerned more with margins than lasting value creation.

    http://seekingalpha.co...

    I agree that Apple should be held to a higher standard due to its size and success. Furthermore, that size coupled with institutional ownership of 57% means that AAPL may suffer disproportionately in the event that push does come to shove. That's why I went so far as to make the seemingly bizarre proposal that AAPL could eventually come represent an excellent tech market hedge.
    Feb 18, 2015. 10:42 PM | 16 Likes Like |Link to Comment
  • Update: ExOne Introduces Innovent [View article]
    ExOne has announced the availability of six new materials for additive manufacturing. Note the materials will still have to be qualified, meaning that ExOne won't even be using them in its own PSCs. Nonetheless, this is a step in the right direction on what continues to look like a long road.

    http://bit.ly/1AmscPn
    Feb 18, 2015. 05:48 PM | Likes Like |Link to Comment
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