Wednesday, April 13, 2016

[U] In The "Truth Far Stranger" Dept.: KaloBios... Just Lost Its Web-Address. But Ch. 11 Is Going Smoothy. Truly.

[Cross posted from the KaloBios Bankruptcy website.] UPDATED @ 9 PM EDT: The original KaloBios site is back online, at that address. End, updated portion.

Well -- I suppose there are a lot of moving pieces (and bills to keep paid) in the Chapter 11 reorganization process.

But just after PathoPhilia noted this weekend that had revamped its front page imagery, to emphasize its Chagas treatment candidate intentions (the image being a plainly healthy, smiling Latina mom, with her cute little toddler boy)....

We see tonight that the page address is now offered by In fact, all of them are.

See image at right -- as of 6 PM EDT on April 13, 2016 -- this is where all the Google searches root toward -- this, a re-registrar of web-addresses.

This happens only in two ways (1) most likely -- the payments weren't made; or (2) the company (less likely) has been hacked, and the domain released or sold -- such that the company now needs to institute process to reclaim it.

On that less likely (but tantalizing) scenario No. 2, then -- let us remember that Mr. Shkreli (allegedly) spoofed/hacked the email and Facebook account of someone he felt had wronged him, at Retrophin. Hmm.

So -- what would be his motive here? Well, consider that he is about to be crammed-down, from a 70 per cent owner of a perhaps (if all goes well) $350 million US FDA PRV, to some one or two per cent -- if my guesses are right (and, well under 20 per cent, according to public record Wall Street sources). Hmm2.

That is motive -- and he has had the opportunity -- since he likely got all the admin privileges shifted when he took the CEO seat, for a brief period in November to mid-December of 2015. Did he just stealthily flip it, now and it will turn out that the new management failed to install non-guessable new passwords, as they took over, in January 2016?

I know -- all wild conjecture here. More likely, the Dr. Durrant-led team just forgot to pay the bills from their domain hosting service providers.

We will likely know by morning, for certain.

Will it be back on-line, or will the debtor-in-possession company have to choose an alternative web address naming convention, for a bit?

We will let you know.

The truth, it seems, will always be far stranger....

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