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Investment Q&A

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Q: Here is a link to a July 17 news release regarding the transfer in to the Healthcare Special Opportunities Fund of PHM and CXV shares by Dalsin and Greene, through their holding company Canons Park Advisors LLC, in exchange for special class U units. Hope this helps clarify things as there has been a fair bit of confusion on the part of some investors about this transaction.

http://www.marketwired.com/press-release/healthcare-special-opportunities-fund-completes-62-million-private-placement-class-u-tsx-mds.un-2039667.htm
Read Answer Asked by David on July 23, 2015
Q: I see there have been a lot of questions about dalsin and greens sale of phm and convalo shares. On BNN last week an analyst mentioned that one could transfer shares of these companies directly into shares of the mutual finds that michael decter and micheal dalsin started. I think that that's what is happening here, that they are transferring the shares into the fund which holds the same companies.
Read Answer Asked by Carla on July 21, 2015
Q: Peter & Team, I can't find any information on Dalsin and Greene selling their shares, as suggested in the previous question. There is a July 13th company press release pre-announcing very impressive results, a 14.5 million share buy back (5% of issued shares) and executive leadership changes; nothing about the founders cashing in (although they are taking on non-executive board roles). Can you please clarify. Thank you.
Read Answer Asked by Keith on July 21, 2015
Q: Hi 5i Team,

What are your thoughts on the current pricing of PHM? Do you think the price has hit a bottom yet? I have 3/4 position, so should I be adding or wait and see what the next results bring?

Also when is Concordia's next earnings report? Last earnings was OK, with light revenue, did management adjust guidance for this or was there just lag in sales say due to timing of acquisitions?

Thanks, Shane
Read Answer Asked by SHANE on July 21, 2015
Q: Good day,
I see that Greene and Dalsin at PHM exercised a bunch of options earlier in the month and had to sell some shares to square up the tax bill which makes sense. However, I noticed yesterday (July 16) that it shows they sold 13,422,401 shares each at $1.36 which was carried out privately and now showing a 0 balance? Is this by chance a transfer to this new closed end fund or something? Maybe a transfer to a Hold Co? But it says specifically a sale? Thanks.
Read Answer Asked by Chris on July 21, 2015
Q: Having just noticed that the two main principals in PHM "privately disposed" of over 13 million shares each, I am wondering if my recent praise was premature. What is the difference between a disposition being carried out privately or publicly? Would privately mean they may have simply transferred their shares to a separate company as both now show zero shares on Canadian Insider?
Thank you.
Read Answer Asked by Steven on July 17, 2015
Q: PHM founders Michael Dalsin and Roger Greene had sold their 2.4 million shares right after exercising options yesterday. They had three companies on hand, and additional closed end health fund in the progress to be built. It asked shareholders to approve to increase 20% of its common shares. (I voted to against this shareholder dilution plan.)Also they keep issuing stock options to themselves. All those red flags make me start doubting this management. Am I wrong about this and do you still have faith in this company? Thanks for your unbiased insight as always!
Read Answer Asked by Rebecca on July 09, 2015
Q: A small clarification. Helen asked a question about PHM earlier today, that included "[PHM] will be moving to TSX and will now be a closed end fund." You commented on the move to the TSX but didn't clarify that the closed end fund referred to is MDS, to be run by Michael Decter, and it will have no effect on PHM proper. I believe that Michael Dalsin and Roger Greene, of PHM, will have an advisory relationship with MDS, but there is no direct implication for current PHM shareholders as they are separate entities.
Read Answer Asked by David on June 26, 2015
Q: This stock has lost a quarter of its value since April 20. I realize there was a financing issue, but the steady downward momentum seems to be accelerating. I know growth stocks are volatile, but 25% is a serious fall with no end in sight. Last night on BNN Eric Nuttall described PHM is wildly overpriced and likely to take a huge fall if there is a market correction. Is it time to jump ship?
Read Answer Asked by John on June 09, 2015
Q: Good Afternoon,
I just listened to the conference call from the end of April. Correct me if I'm wrong but I think I heard them say that a realistic longer term goal is now $1Bill in annual revenue? Not sure if I misheard them but they also said their EBITDA margin currently is around 60-65%? And companies like this could trade for 10-13x EBITDA? Thank-you
Read Answer Asked by Chris on June 09, 2015
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