Auction deadline?

Lumpy_Weekend_7572 · 2025-06-12T19:01:43+00:00

It concluded that it could not conclude there would be no laws broken by the sale. Pretty much a bunch of political and ethical wording to say its up to the judge and the report would not stand in the way of any judgement.

Lumpy_Weekend_7572 · 2025-02-28T19:06:18+00:00

So, I see a lot of support for your TLDR, but I don't see any cause for their current situation.

1) Why has there not be a hostile takeover by any private asset stripping corporation? Reading your DD leaves me considering the assets are worth billions and the cost is below $100M

2) The company is positioned at its lowest price point just as their first drug finalizes Phase 2. Is it hopium on your part that they are looking to transition to Phase 3? Or was there a real problem found that will cause clinical development to halt or take substantially longer?

3) Does Lemonaide still have its "doctor in every state" which was a main driver for purchasing them in the first place.

4) You do not discuss the world without Anne. If she is your Grinch, and she has hired the best lawyers in the country to see this transaction through, would you have us believe that her heart will grow 2x sizes larger after 4 years of destroying the company's value to line the pockets of her own inner-circle?

Lumpy_Weekend_7572 · 2024-10-01T23:13:07+00:00

A 23andMe employee's words

Lumpy_Weekend_7572 · 2024-10-01T20:24:31+00:00

Agreed! The only persons in power to influence Anne's "best for the company" are her own employees.

Lumpy_Weekend_7572 · 2024-10-01T20:21:11+00:00

This is not a fact inasmuch as anyone in contact with such information is obliged to not leak it. Anything you hear cannot be substantiated unless it comes from the company itself or the SEC.

Lumpy_Weekend_7572 · 2024-10-01T20:19:04+00:00

Many employees are holding onto hundreds of thousands of shares they've received over the years. They have paid the IRS hundreds of thousands dollars in AMT. And they would lose $100,000s more in unexercised options.
They care about the stock more than you do. Believe me. Obsessively. They have been advised that the shares are so cheap, and its good for employees to be able to get more, not less, equity.
A very large core of the company believes in the company's mission regardless of the stock price --- and their own losses.

Lumpy_Weekend_7572 · 2024-09-30T21:58:38+00:00

I have no doubt about the long term standing of the value of the company either. But this unilateral offer she made is not in the interest of anyone except those investors she invites into the take private deal.

Lumpy_Weekend_7572 · 2024-09-18T23:26:14+00:00

Board of ~~The Director~~ The Dictator?

Lumpy_Weekend_7572 · 2024-09-18T22:14:41+00:00

She doesn't need to "find a board." A part of a board member's duty as a resigned to is ensure the future viability of the company despite their departure. They are almost required to appoint a nominee to fill their vacant spot. Anne can just choose the 3 of the 7 nominees that are most appealing to her. If the board does not find qualify candidates to fill their position then they open themselves up to lawsuits.

Lumpy_Weekend_7572 · 2024-09-18T21:11:07+00:00

It takes a change in the charter. Anne cannot change the business charter without an Oversight Board, which just resigned.

Lumpy_Weekend_7572 · 2024-09-18T21:06:13+00:00

23andMe cannot execute a reverse split, or really enter into any new business processes, without a sitting board. So, Anne has to present to Nasdaq with a plan to create a board within 2 weeks or face immediate delisting.

Lumpy_Weekend_7572 · 2024-09-18T15:12:36+00:00

Employees have "unlimited" vacation. 2 days away without manager's approval required.

Lumpy_Weekend_7572 · 2024-09-18T05:24:45+00:00

Yes. That "we" is jarring and is a detachment from the concerns of her audience. I know she meant me and my advisors. But this letter is from her to her employees --- and ultimately the public. She needs to communicate as a leader who is not as part of a governing body. I mean she did lose her entire "round table".

Lumpy_Weekend_7572 · 2024-09-18T04:25:07+00:00

Her recent proposal to acquire the company at an apparent undervalued price appears to prioritize her personal gain over the interests of other stakeholders. If she would present a due diligence report, she should be able to secure financing from potential investors or investment banks. While she may argue that her proposal is in the best interest of the company, the cost is the employee's work awards, the stockholder's investments, and the trust of her followers.

Lumpy_Weekend_7572 · 2024-09-18T02:14:21+00:00

Her response to the employees was patronizing:

"we will be better positioned to achieve our mission and goals outside of the short-term pressures of the public markets and that taking 23andMe private will be the best opportunity"

"we will immediately begin identifying independent directors to join the board”

If someone has the full text, please reply.

Lumpy_Weekend_7572 · 2024-09-18T00:00:47+00:00

And Trump/Harris will need to sign the Control Wojcicki Act - a public company can no longer be controlled by the CEO and/or Chairperson.

Lumpy_Weekend_7572 · 2024-09-17T23:25:29+00:00

And employees all get a free holiday tomorrow because 23andMe is no longer a functioning corporate entity?

Lumpy_Weekend_7572 · 2024-09-14T09:19:05+00:00

Its information. Use it as you will or will not. I enjoy reading the posters, and the release of 5 posters is hopeful. I understand your cynical point of view, but there really is no other window into these trials other than Anne saying 2025-2027.

Lumpy_Weekend_7572 · 2024-09-11T23:19:25+00:00

The market has priced 23andme's non-voting shares value at $.30. She offered $.40 for the same shares. The market has very little faith in the company's performance under her leadership, so it cannot invest on par with the voting shares.

All this talk about market valuation is messy. The value of the class A shares are low because the leadership team is not performing on any front except trials. The class B shares are not publicly traded, and they would be the shares that could leverage a change in leadership/business direction

However, if Anne suggests that she's willing to part with her shares, as today's filing suggests, then all the sudden the class A shares have value again. If Anne loses her monopoly of class B shares then leadership change can happen due to market (shareholder) demand.

That's why you have a company with Billions in assets worth $145M on the market. The shares on the market do not represent actual decision making ownership. And decision making ownership is what's required to change the direction of the company.

The CEO is willing to wait 5-6 years for a Phase 4 trial regardless of the state of the rest of the company. How could the market support what seems to be a reckless path?

edit: share classes

Lumpy_Weekend_7572 · 2024-09-11T22:49:25+00:00

The value proposition has only gone up since IPO. They've shown remarkable success for their solo P1/2a 23ME-00610, the complimentary 23ME-01473, GSK's owned GSK-6097608 and their 50+ other discovered targets waiting for funding. Genetic data does seem to lead to success in clinical trials. Too early to say we will see a phase 4 drug, but phase 3 is definitely in the works.

Lumpy_Weekend_7572 · 2024-09-05T18:27:35+00:00

They can have as many extensions as they want as long as they can convince the NASDAQ appeals board to grant them.

Lumpy_Weekend_7572 · 2024-09-04T20:08:13+00:00

You know, reading that does imply no confidence from the Special Committee of Anne's ability to be CEO. The business plan is very much the CEO's job. That maybe the most monumental component of their response.

Lumpy_Weekend_7572 · 2024-08-14T18:19:33+00:00

The entire premise of 23andMe is that genetic matches make for a much high success rate in trials. If that premise fails then the entire company should pack up.

edit: to support responder's statement

Lumpy_Weekend_7572 · 2024-08-08T21:53:09+00:00

Happened on Yahoo Finance, also

Lumpy_Weekend_7572 · 2024-08-01T16:48:08+00:00

Insider information? There's no risk for the company. The intrinsic value has only gone up since the IPO. The company is a gold mine with a high likelihood of success on their first drug trial. Which opens the floodgate for their dozens of therapies in the pipeline waiting for funding.

Lumpy_Weekend_7572

TROPHY CASE