News Article: Melnyk suing Acerus Pharmaceuticals (Trimel) after significant losses

[Boud]

One of two things happened:

1. He pulled an O'Leary to Mattel and ripped them off. That seems highly unlikely based on his current actions and remaining the third largest shareholder after the transaction.
2. Those that took over ran it into the ground with a special kind of incompetence. Hard to reduce a company to rubble like that so quickly. Hard to have losses of 9M on revenues of 16M.

Perhaps he has a case. I don't know much more than what i hear in teh news, which is to say I don't know much.

In the pharmaceuticals industry it really is a common theme to be honest. These companies are worth a ton based on products that will potentially become very profitable but there just never is any certainty until the products come out. It's not like a computer where you can test it and see how it performs and you already know full well what you're selling. There are very strict rules to follow in Canada in that particular industry and in the end if your product is not recommended you lose everything.

It's always been a boom/bust type of market, one of the riskiest industry there is out there.

 

[Lenny the Lynx]

New prediction for Hoffman's contract - 5 years at 300 million shares of Trimel
Take it or leave it

 

[topshelf15]

New prediction for Hoffman's contract - 5 years at 300 million shares of Trimel
Take it or leave it

and a wad of Canadaian tire money ??

 

[1Gold Standard]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

 

[topshelf15]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

Agreed

 

[Burrowsaurus]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

The guy is Big player. Probably not interest in getting out of the game

 

[FolignoQuantumLeap]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

You're probably a person of sound mind and rationality. Eugene Melnyk isn't really either of those things nor are many of these 1%er public figure types. It's like massive wealth compeletely disconnects people from humanity and the rest of the world.

 

[Filatov2Kovalev2Bonk]

Hopefully he sues them for exactly 5.5 X 5 27.5 million.

Is this happening on top of his forensic investigation on Matt Cooke?

One of two things happened:

1. He pulled an O'Leary to Mattel and ripped them off. That seems highly unlikely based on his current actions and remaining the third largest shareholder after the transaction.
2. Those that took over ran it into the ground with a special kind of incompetence. Hard to reduce a company to rubble like that so quickly. Hard to have losses of 9M on revenues of 16M.

Perhaps he has a case. I don't know much more than what i hear in teh news, which is to say I don't know much.

Yeah, he might have a case. What I'm wondering though is whether Mel's business acumen might be in the "ideas and getting it going" stage and not really in the management/minutiae stage. Sens are losing money, Biovail started losing money/Eugene got investigated, Trimel losing money...it looks like Euge is one of those people that really need some sound advice on things. His right hand man Villazor should be providing that, and hopefully does, but still...perhaps selling the Senators would benefit him financially?

 

[Erik Alfredsson]

You're probably a person of sound mind and rationality. Eugene Melnyk isn't really either of those things nor are many of these 1%er public figure types. It's like massive wealth compeletely disconnects people from humanity and the rest of the world.

Eugene Melynk didn't become a Billionaire by being an idiot, if it comes to the point where he can't afford the team anymore than he will sell it.

 

[FolignoQuantumLeap]

Eugene Melynk didn't become a Billionaire by being an idiot, if it comes to the point where he can't afford the team anymore than he will sell it.

I'm not saying he's an idiot. I'm saying he's eccentric

 

[Burrowsaurus]

Eugene Melynk didn't become a Billionaire by being an idiot, if it comes to the point where he can't afford the team anymore than he will sell it.

Nah man he didn't resign alfie he's thee biggest idiot ever!

 

[PoutineSp00nZ]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

He's going to live out the rest of his life like that regardless. Owning an NHL team is the ultimate video game for hockey fans : P

 

[Ouroboros]

Melnyk will sell the team after he gets his expansion windfall and not a minute before.

 

[Senscore]

Stuff like this is why I'm 100% certain this team is a moneymaker.

 

[Sens Rule]

If I were Eugene I'd just sell the Sens and arena for whatever is worth, settle up my debts and just go live out the rest of my days on the beach and bar in Barbados....You have to know when to get out of the game.

Or sell 90% of the team and keep 10% so he can still be a big shot "owner" and talk on Sports Radio shows in Toronto. While the team is well funded and he doesn't need to worry about the financial burden of the team.

 

[Sun God Nika]

Eugene Melynk didn't become a Billionaire by being an idiot, if it comes to the point where he can't afford the team anymore than he will sell it.

You would be surprised how many elite rich people don't deserve their wealth. It has a lot to do with luck being in the right place, at the right time.

Billionaires also have a lot of failures or sometimes they turn good things into failures, if you get where I'm going at.

 

[Burrowsaurus]

You would be surprised how many elite rich people don't deserve their wealth. It has a lot to do with luck being in the right place, at the right time.

Billionaires also have a lot of failures or sometimes they turn good things into failures, if you get where I'm going at.

I would say not many of them. A few of them sure. But not many.

 

[Sun God Nika]

I would say not many of them. A few of them sure. But not many.

I would disagree, but not trying to get into this debate right now. I also have no idea on the backstory of Eugene Melynk and he really isn't worth my time.

 

[Sens Rule]

You would be surprised how many elite rich people don't deserve their wealth. It has a lot to do with luck being in the right place, at the right time.

Billionaires also have a lot of failures or sometimes they turn good things into failures, if you get where I'm going at.

If we didn't have the crazy owner's overshooting their wealth like Firestone, Bryden and Melnyk by owning a team.... Ottawa wouldn't have an NHL team. They might not be ideal or perfect... But at least they figured out how to get us a team and keep it here. So it is hard for me to really dislike ownership. Sure a big fish would be nice... But at least we have a team. A relatively decent one for most of our history.

 

[Burrowsaurus]

I would disagree, but not trying to get into this debate right now. I also have no idea on the backstory of Eugene Melynk and he really isn't worth my time.

Like Sens rule states above. He's the reason you have a team. So maybe when you have free time read up on him. Not going to hurt.

 

[Boud]

I would disagree, but not trying to get into this debate right now. I also have no idea on the backstory of Eugene Melynk and he really isn't worth my time.

You spend your precious time here.

But you wouldn't be spending time here if it wasn't for him

 

[BK201]

The stocks are sitting at 9 cents. Ouch.

I don't think this is really a good or bad thing for fans of the Sens. He wouldn't be taking legal action if he A. Didn't have the funds to mount this kind of attack and B. Counsel didn't think there was a case.

On a side note, good god are publicly traded companies a cancer to society.

Lol I like public traded companies... But I make decent money from them so it's pretty hard to complain.

 

[PeterSidorkiewicz]

I'm with you FQL, I try to put zero of my purchases into publicly traded companies although it can be tough. Please Trader Joes don't go public!

Also, women's viagra failed then?

 

[Nac Mac Feegle]

I'm with you FQL, I try to put zero of my purchases into publicly traded companies although it can be tough. Please Trader Joes don't go public!

Also, women's viagra failed then?

Not surprising. Males need help with hydraulics, while with women, it's based on emotions. A drug to alter emotions....that's getting way to close to something that would be used primarily as a date rape drug. That just treads way too much into a territory most legislators and medical boards don't want to go.

 

[Stylizer1]

Melnyk needs to tank.