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Greg Miller

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  • Biozone: An In-Depth Look In Light Of Recent Investments [View article]
    I posted a blog today on Seeking Alpha about my thoughts on "the new BZNE":
    http://seekingalpha.co...
    Jan 18 12:16 PM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    The number of shares being registered was substantial on a relative basis. In the article I wrote that the current 9,459,373 o/s would rise to 15,792,708 any day (whenever the S1 receives approval), a 67% increase.
    Jan 13 11:36 PM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    S1, not the news.
    Jan 13 08:23 AM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    Most of its assets are intangible (patents, approvals, etc). If manufacturers wait until the last minute to buy the chips, as they are wont to do, Veriteq will need to raise capital to bridge itself until 2015, which will probably be a nominally small offering (dilutive) of $3 million if I had to guess. Unfortunately, this is a large percentage of its market cap. However, I think it will try to price the offering closer to the low $1s, as the recent dip is due to the pending S1, and I personally think this dip is temporary... which is why I bought for the rebound.

    I only have invested half of what I ultimately plan to purchase, however, becase shares have been so volatile. I might get lucky and fill some of my bids at lower prices.

    Regardless, this is not a stock to bet the farm on, that is for sure. It could return 100% or more, or this could be a big loser. I am only playing with a small portion of my portfolio here.
    Jan 12 08:08 PM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    Thanks for reading.
    Jan 12 07:55 PM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    Thanks. It all depends on whether it accomplishes its goal or not. You do the math from today's market capitalization to a P/E multiple from its projections- the numbers are incredible. But again, it is all about Veriteq convincing the industry that they need to use RFID instead of antiquated paper documentation. Having something like what happened to patients in France is a horrible thought, so obviously I believe RFID will sell, but that is the key unknown.
    Jan 11 12:54 AM | Likes Like |Link to Comment
  • New Mandate Will Help Sell Veriteq's FDA-Approved Microchip [View article]
    Thanks.
    Jan 11 12:48 AM | Likes Like |Link to Comment
  • What Mark Cuban And George Soros Have In Common [View article]
    Nice to see a Seeking Alpha alert on MARA today in my inbox. A revenue forecast appears in the most recent corporate presentation. "We believe that over the next 3 to 5 years our current patent asset base may generate aggregate revenue in excess of $100 million."
    Dec 12 11:42 AM | 3 Likes Like |Link to Comment
  • Flash Analysis Of Biozone's Merger With Cocrystal Discovery [View instapost]
    Unfortunately, I cannot comment on the valuation of Cocrystal Discovery Inc. as it is a private company, other than to say I have heard rumors far above $200 million, even above $1 billion. Until someone publishes a private company valuation, all I can repeat are rumors and that it is up to investors to look at Teva and Opko Health filings to make their own judgments, or wait a few weeks to see if Biozone voluntarily discloses terms once the deal finalizes. Cocrystal Discovery raised its first $10 million financing of over a half decade ago... Teva has already invested millions...
    Dec 3 04:52 PM | 1 Like Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    I'm holding long term, unrealized losses for now but this low volume trading is mostly warrant holders and financing parties cashing in for their services getting the company cleaned up from its MedicSight days. It is really unfortunate that they seem to have no concern for the long term prospects of the company, but that is how it goes sometimes. If MGT settles for anything over $10 million from any of the defendants the stock could double... if their daily fantasy sports website did even a few million in revenue the stock could double... if the company fails entirely, there are a lot of debt-free assets backing shareholder equity to soften the blow. I think there are plenty of shots on goal here. Overall, from my gains earlier in the year and my unrealized losses now, I am slightly negative overall. I think football season should produce some nice results by the holidays.
    Nov 1 12:16 PM | Likes Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    The party(ies) holding the warrants at $3 seem to be pretty ruthless. Ultimately it is good for this company to churn through that overhang of investors who seem to not care about the company and just want to cash in for their financing services (from the time when MGT's MedicSight division was divested and the capital structure cleaned up). I have written about the warrant issues before, and until MGT announces some good revenue from its daily fantasy sports division or a settlement, it will be hard to sustain a rally, especially with such low average volume. However, if MGT does announce something, it would be a very, very quick spike up. I am still long with realized gains from earlier this year and holding paper losses now.
    Nov 1 12:07 PM | 1 Like Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    All of that is public info, I think it is around $5M currently. The burn rate is not as high as Yahoo Finance shows, read the "Supplemental disclosures of non-cash" on the last 10Q detailing the reclassifications of derivative liabilities (which was previously disclosed
    http://bit.ly/HqEkrV).
    Also, there are still warrants at $3.00 per share, which probably explains the horrible price action this week. If it goes too much lower, this stock will be backed 100% by assets. The fully diluted valuation is down almost 50%, as most warrants are out-of-the-money here below $3. (Fully diluted valuation goes up at a faster rate as price increases but also goes down at a faster rate as price falls- specifically, as the price falls below specific strike prices, and a big strike price was $3 for MGT.)
    Oct 30 05:41 PM | 1 Like Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    WMS (now SGMS) is the top defendant. Aruze is the second. I don't think the other three defendants are very substantial. To continue the analogy, they are just facility operators that may or may not have known that the machines on their floor were infringing.
    Oct 30 05:21 PM | Likes Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    By the way, before I get to your questions, I do not think my article has much to do with the slight decline on Friday. Remember that there are still a few warrant holders who are happy to lock in a couple percentage points and who have no long term interest in the company. Anyway, as to your questions-

    1. There is only one lawsuit at the moment against WMS and Aruze with stayed action against the other three slot machine operators. I assume the scheduling order and press announcement by MGT still stands and nothing has changed about the June 5 Markman Hearing date.

    2. If the single lawsuit progresses positively for MGT such that the court allows resumption of legal action against the three slot machine operators, then one or twenty lawsuits, I do not think shareholders from these levels will have anything to worry about at that time... the stock will probably have doubled or more by that point. If the courts say, "Infringement in the machines has occurred, so let's talk about the reponsibility of the operators." shareholders could care less if their responsibility is 0.1% or 3% or 10%. By that point, shareholders would know that MGT is likely to receive payment from the main defendants WMS and Aruze, and it does not take much to move today's $20 million market cap.

    3. MGT's corporate presentation details the overall infringing market and its potential payouts (going into the hundreds of millions on the high end). All the machines are manufactured by WMS and Aruze. WMS and Aruze are the first two defendants in the lawsuit and their motions to stay legal action were denied.

    Thanks for your comments.
    Oct 26 10:02 AM | Likes Like |Link to Comment
  • MGT Wins No Summary Dismissal, No Venue Transfer in Accelerating Lawsuit [View article]
    (Also, the actions against the slot machine operators are pretty inconsequential anyway. WMS and Aruze are the 800lb gorillas. Even if the courts had dismissed all actions against all three slot machine operators, the economics of MGT's potential would barely have shifted. The slot machine manufacturers, WMS and Aruze, will clearly be the responsible parties if patent infringement has occurred. Just as a gas station operating a lottery machine infringing on some patent is not really a major target for an inventor seeking monetary damages, the manufacturer is the real target, not the gas station.)
    Oct 25 03:44 PM | 2 Likes Like |Link to Comment
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