» 6th May 2004
»
» Farjo commented “I am delighted that TrichoCyte has proven safe in all
» volunteers enrolled into the trial"
»
» 28th march 2006
»
» Rassman - “I personally do not believe that the safety issue can be
» resolved in anything less than 10 years, so do not hold your breath”
»
»
» Either dr rassman is deliberately misinforming the public about HM or he
» knows very little about it.
»
» Make your own minds up
With all due respect to Dr. Rassman, he’s not a research scientist and knows no more about ITX’s protocol than we do. Further, he does have some financial incentive to negate the viability of HM, and to extend its timeline.
That being said, I will not be among the first to try any commercial application of ITX. I’ll give them 2-3 years after its release. I can wait.
skiploss:
With all due respect to Dr. Rassman, he’s not a research scientist and knows no more about ITX’s protocol than we do. Further, he does have some financial incentive to negate the viability of HM, and to extend its timeline.
That being said, I will not be among the first to try any commercial application of ITX. I’ll give them 2-3 years after its release. I can wait.
Truthfully, legitimate HT doctors don’t have to fear HM (even if it magically became available tomorrow). There will be a need for FUE-type procedures for quite some time… from eyelash implants to eyebrow corrections, from FUT scar repair to even some HM hairline corrections. Legitimate hair surgeons will simply add HM to their itinerary.
It’s the dishonest Strip-type doctors – who refuse to change – that will be put out of business (I hope). Dr. Rassman is, obviously, a legitimate and highly regarded doctor. I doubt he has anything to fear. There is no need for his pessimism.
» skiploss:
» With all due respect to Dr. Rassman, he’s not a research scientist and
» knows no more about ITX’s protocol than we do. Further, he does have some
» financial incentive to negate the viability of HM, and to extend its
» timeline.
»
» That being said, I will not be among the first to try any commercial
» application of ITX. I’ll give them 2-3 years after its release. I can
» wait.
»
» Truthfully, legitimate HT doctors don’t have to fear HM (even if it
» magically became available tomorrow). There will be a need for FUE-type
» procedures for quite some time… from eyelash implants to eyebrow
» corrections, from FUT scar repair to even some HM hairline corrections.
» Legitimate hair surgeons will simply add HM to their itinerary.
»
» It’s the dishonest Strip-type doctors – who refuse to change – that will
» be put out of business (I hope). Dr. Rassman is, obviously, a legitimate
» and highly regarded doctor. I doubt he has anything to fear. There is no
» need for his pessimism.
»
»
»
»
» .
I disagree. The procedures you mention are really adjuncts to a health HT practice. The core of their business is FUE or FUT transplantation. With HM looming, many may decide to put off a HT assuming (wrongly) that HM will be available soon. The traditional HT industry is beginning to see the first effects of the impending development. If the phase II trials go well for either leading developer, HT docs will begin to see a drop-off in business that will only continue to amplify. HM protocols do not seem to necessitate a plastic surgeon; as described, any qualified dermatologist could apply the treatment. That would mean that those who have specialized in HT surgery will need to find something else to do - a daunting task for a surgeon who has made their name from one procedure. As the required skill level for these treatments are far lower than that associated with a HT, they are likely to have much lower labor costs, and as such, lower margins for surgeons. If I was a traditional HT surgeon, I’d tell people HM was a pipe dream, too.
Options are a difficult concept until you work with them. You can buy them independently on the open market, or companies can offer them to employees as an incentive bonus.
An “option” is just that, the buyer (or acquirer) of an option can do nothing and let it expire, or he can “exercise” the option.
“Call” options will make the option holder some money if the stock goes up, and “Put” options will make the option holder money if the stock goes down.
Companies will often give employees Call options as incentive for them to do a good job, so that the company does well, and the stock (hopefully) goes up as a result, and the options they got will be worth more money the more the stock goes up.
I can’t imagine any company in the world granting their employees Put options, where the employee would make money if the stock goes down. That would give incentive to the employee to make the company fail so that the stock goes down.
Anyway, at the expiration date of the option, if the stock is below the given “strike price” of the option, it will expire worthless. Any time up to the expiration date, the holder can “exercise” the option, which means he can buy the given amount of shares at the price specified (strike price).
Of course he can then turn around and sell the shares any time after that, but “exercise” means he took advantage of the option and bought the shares. If he does sell the shares, it would be on record for any high ranking officer ( legal “insider transaction” ) as a separate line item from the exercise one.
Debris’ and Poster99’s assessment make more sense–thanks for explaining things. Also, it is well known among the veteran posters of this board that Dr. Rassman has a reputation for bashing HM: that isn’t an opinion–it’s an observation.
The timing behind Kemp exercising his option seems to indicate that option deadlines are a better indicator of when we’ll have answers from ICX. Kemp is a busy man and busy people have a tendency to put things off until deadlines start to loom–not necessarily because they procrastinate, but because they’ve got a lot going on, so they have to prioritize. If Kemp knows he’s got until, Feb. 1 to exercise an option, he’d naturally feel better knowing more of what TRC will do before exercising it. But in the back of his mind, he also knows how long he can work on other demanding stuff before making sure that TRC-Phase II is rolling along to the point that he will have enough information to comfortably decide whether to exercise his option before the deadline. This is the incentive that a call option imparts: progress.
This might also help explain prior delays in the development of TRC: no option deadlines = no pressure to put up results.
skiploss:
I disagree. The procedures you mention are really adjuncts to a health HT practice. The core of their business is FUE or FUT transplantation. With HM looming, many may decide to put off a HT assuming (wrongly) that HM will be available soon. The traditional HT industry is beginning to see the first effects of the impending development. If the phase II trials go well for either leading developer, HT docs will begin to see a drop-off in business that will only continue to amplify. HM protocols do not seem to necessitate a plastic surgeon; as described, any qualified dermatologist could apply the treatment. That would mean that those who have specialized in HT surgery will need to find something else to do - a daunting task for a surgeon who has made their name from one procedure. As the required skill level for these treatments are far lower than that associated with a HT, they are likely to have much lower labor costs, and as such, lower margins for surgeons. If I was a traditional HT surgeon, I’d tell people HM was a pipe dream, too.
Your comments make sense. I’m simply saying HT doctors will need to evolve their practice to accommodate HM, or call it quits. It seems that simple HM treatments would inundate qualified dermatologists, so HT doctors could certainly carry the slack (assuming they’re willing to shift from low volume/high paying HT clients to high volume/lower paying HM clients). Current Hair Treatments are big business; future hair treatments will be bigger business, and HT doctors are top-of-mind in this market segment. It would be foolish for them to renege on this opportunity.
You also mentioned “HM protocols do not seem to necessitate a plastic surgeon”. Sadly, most HT doctors today are not plastic surgeons; they’re cosmetic surgeons. In some parts of the world that means they’re merely general practitioners that decided to take a stab (pardon my pun) at something new. Many of these doctors do not have the same training or qualifications of their plastic surgeon counterparts. That’s the reality of the industry today - it’s woefully unregulated. It’s more the reason to cheer for HM; it would rightfully replace the general practitioners scalpel with a needle or dermabrasion tool.
» You also mentioned “HM protocols do not seem to necessitate a plastic
» surgeon”. Sadly, most HT doctors today are not plastic surgeons; they’re
» cosmetic surgeons. In some parts of the world that means they’re merely
» general practitioners that decided to take a stab (pardon my pun) at
» something new. Many of these doctors do not have the same training or
» qualifications of their plastic surgeon counterparts. That’s the reality
» of the industry today - it’s woefully unregulated. It’s more the reason to
» cheer for HM; it would rightfully replace the general practitioners scalpel
» with a needle or dermabrasion tool.
I didn’t know that. Generally, the practice seems sketchy. I’m shocked how many of the docs who do this proceadure in the States are actually foriegn-trained. I would not feel comfortable going to some of the guys that frequent the HT forum, but that’s just me; I don’t trust any doc that wasn’t educated at a first-world, Western med school.
As for their future, its limited. I thinkt he HT industry has about 5-10 more years of life. After that, its going to become yet another dermatological, out-patient treatment like botox or any of a number of peels and abrasion treatments. If I were an HT doc early in my career, I’d be concerned. If I were a HT doc late in my career, I’d reep while the sun shines.
I think this topic was not solved.
What did Paul Kemp do?
Did he sell shares, or did he buy shares?
The issue happened at the beginning of 2008, when shares were priced at 50. Now they are priced at 3,5.
I think that back then, Kemp must have had enough information to know that things were not going well. Thus, if he bought stocks, it is surprising. More probably he sold. Or maybe he bought (converted oprions into shares??) and then he sold.
But I am not expert. So opinions are welcome.
» Ok, so I found this little bit.
»
» http://www.intercytex.com/icx/investors/rns/rnsitem?id=1201882420nRNSA1398N&t=popup
»
» I am not sure at all what it means except that it involves exercising his
» option of 500,000 shares. Whether this means that he is selling shares or
» buying shares I cannot determine. Also, this little bit of the document
» seems strange:
»
» 3. Name of person discharging managerial responsibilities/director
»
» Paul Kemp
»
» Read one way, this says name of person leaving the position. In another
» way, it can simply be saying: name of manager.
»
» Ok, so if anybody has any clue about this sort of thing, analysis…
Exercising options means your are converting your options into shares. There are several reasons this happens. It could be that the expiration date of the options could be approaching. You exercise or lose them. He could be exercising and selling which you will see show up in insider sales (he is still classified as an insider for many months after employment). This is not a big deal because he wouldn’t be able to sell if he were in possession of negative insider information. I just looked and no insiders have sold.
» I think this topic was not solved.
» What did Paul Kemp do?
» Did he sell shares, or did he buy shares?
»
» The issue happened at the beginning of 2008, when shares were priced at
» 50. Now they are priced at 3,5.
»
» I think that back then, Kemp must have had enough information to know that
» things were not going well. Thus, if he bought stocks, it is surprising.
» More probably he sold. Or maybe he bought (converted oprions into shares??)
» and then he sold.
» But I am not expert. So opinions are welcome.
»
»
»
»
» » Ok, so I found this little bit.
» »
» »
» http://www.intercytex.com/icx/investors/rns/rnsitem?id=1201882420nRNSA1398N&t=popup
» »
» » I am not sure at all what it means except that it involves exercising
» his
» » option of 500,000 shares. Whether this means that he is selling shares
» or
» » buying shares I cannot determine. Also, this little bit of the
» document
» » seems strange:
» »
» » 3. Name of person discharging managerial responsibilities/director
» »
» » Paul Kemp
» »
» » Read one way, this says name of person leaving the position. In
» another
» » way, it can simply be saying: name of manager.
» »
» » Ok, so if anybody has any clue about this sort of thing, analysis…
So, from your words, I deduce that there is nothing suspicious in this matter.
Do you know at what price Kemp converted options into shares?
» Exercising options means your are converting your options into shares.
» There are several reasons this happens. It could be that the expiration
» date of the options could be approaching. You exercise or lose them. He
» could be exercising and selling which you will see show up in insider sales
» (he is still classified as an insider for many months after employment).
» This is not a big deal because he wouldn’t be able to sell if he were in
» possession of negative insider information. I just looked and no insiders
» have sold.
»
» » I think this topic was not solved.
» » What did Paul Kemp do?
» » Did he sell shares, or did he buy shares?
» »
» » The issue happened at the beginning of 2008, when shares were priced at
» » 50. Now they are priced at 3,5.
» »
» » I think that back then, Kemp must have had enough information to know
» that
» » things were not going well. Thus, if he bought stocks, it is
» surprising.
» » More probably he sold. Or maybe he bought (converted oprions into
» shares??)
» » and then he sold.
» » But I am not expert. So opinions are welcome.
» »
» »
» »
» »
» » » Ok, so I found this little bit.
» » »
» » »
» »
» http://www.intercytex.com/icx/investors/rns/rnsitem?id=1201882420nRNSA1398N&t=popup
» » »
» » » I am not sure at all what it means except that it involves exercising
» » his
» » » option of 500,000 shares. Whether this means that he is selling
» shares
» » or
» » » buying shares I cannot determine. Also, this little bit of the
» » document
» » » seems strange:
» » »
» » » 3. Name of person discharging managerial responsibilities/director
»
» » »
» » » Paul Kemp
» » »
» » » Read one way, this says name of person leaving the position. In
» » another
» » » way, it can simply be saying: name of manager.
» » »
» » » Ok, so if anybody has any clue about this sort of thing, analysis…
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