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$CODX On Monday, August 19, at 12:15 PM ET, Company CEO Dwight Egan will be presenting on the Company's forthcoming PCR platform, which is currently under FDA review and is not currently for sale, in a luncheon presentation titled "Co-Dx PCR Platform: The Future of Accessible Diagnostics."
Look for short covering today and a nice 50% or higher rise in PPS. Opti
CODX announces ribbon cutting ceremony at manufacturing facility on April 11. This is significant.
Finally!
Opti
Codx announces ribbon cutting ceremony for Utah manufacturing facility on April 11. This is significant news.
Finally!
Opti
Scam alert!!!!!!
Beware
Renovaro BioSciences: A Worthless AI Shell Game With A Murderous Magician Past
(NASDAQ:RENB)
Renovaro is a biotech company with several preclinical drug candidates that is “committed to curing people with cancers and infectious diseases”. Weeks ago, it voted to merge with “AI Health” company GEDi Cube, giving the company a pro-forma fully diluted market cap of ~$567 million.
Current CEO Dr. Mark Dybul has a prestigious background (i) serving under Anthony Fauci at the National Institute of Health (NIH) (ii) as Executive Director of the Global Fund to Fight AIDS, Tuberculosis, and Malaria and (iii) as a tenured professor at Georgetown University.
Dybul has been involved with the company since 2017, before it went public. The company went public in early 2018 under a predecessor name, Enochian BioSciences. Dybul stepped into the CEO role in 2021, where he remains today.
Then known as Enochian, the company’s co-founder, “scientific founder”, “inventor”, and largest shareholder was an individual named Dr. Serhat Gumrukcu.
CEO Dybul praised Gumrukcu as a “rare genius”, saying he could be “the most impactful scientist in generations”. In a now-deleted company video, Dybul praised Gumrukcu’s “brilliance” and said he created “some of the most innovative approaches to HIV and oncology” that he knew of.
In May 2022, Gumrukcu, was charged by the Department of Justice over allegations that he conspired to hire a hitman to murder one of the victims of his many scams, a Vermont father of 6 who was taken from his home and executed in a snowbank.
A week after the charges, we published a report on the company titled “Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies”, which largely profiled the now-imprisoned Gumrukcu.
In that report, we revealed Gumrukcu had faked his entire academic history, including forging his Russian medical degrees, and that he was a magician who had fled authorities in Turkey after being charged over allegations he faked being a doctor to steal money from a terminally ill cancer patient.
We also revealed that as a fugitive in the United States, Gumrukcu continued his crime spree, culminating in 14 felony charges in 2017 relating to the fraudulent sale of a home he didn’t own, writing bad checks, and defrauding a businessman through a fake energy trading deal.
The day after we published our report, CEO Dybul called it "misleading propaganda", claiming the magician's study results were still valid. "The science is the science, and the data are the data".
One month after the murder charges and our report, in July 2022, the company announced that Gumrukcu had faked clinical data relating to the company’s HBV and COVID-19 therapies. In October 2022, the company sued Gumrukcu, saying his conduct amounted to “brazen fraud”. The data was apparently not the data.
The company claimed it had “no reason” to doubt Gumrukcu’s data. Dybul later admitted he and the company knew Gumrukcu had been arrested on 14 felony counts relating to fraud at the time they began working with him, but kept working with him anyway.
Dybul ignored other obvious red flags including (i) in 2018 when the company’s CFO raised concerns of “serious financial improprieties” related to Gumrukcu (ii) when analysts in 2019 pointed out Gumrukcu’s suspicious medical credentials and criminal history and (iii) when Dybul was questioned in 2020 regarding a U.S. lawsuit alleging Gumrukcu practiced sham medicine on a terminally ill child and absconded with the parent’s $253,000.
Enochian Chairman Rene Sindlev also knew of and ignored Gumrukcu’s felony fraud charges and previously compared Gumrukcu to Leonardo Da Vinci and Albert Einstein. No board members or key executives resigned despite their inexcusable governance failures.
In late 2022, 6 months after the murder charges and 2 months after the company sued Gumrukcu for “brazen fraud”, the board of Renovaro elected to pay Dybul a $100,000 cash performance bonus on top of his $850,000 annual salary.
In March and April 2023, with Enochian almost out of cash and its stock near lows, Chairman Sindlev “conducted multiple calls and in-person meetings” with representatives of GEDi Cube, an entity which didn’t even exist at the time, later company disclosures revealed.
Also on the same day of the LOI and the name change, insiders including Chairman Sindlev quietly acquired millions of shares and warrants at effective prices ranging from $0.65 to $0.713 per share. Renovaro was trading at ~$0.65 at the time.
8 days later, Renovaro publicly announced the merger, calling GEDi Cube an “AI Company” using “cutting edge AI/machine learning technology”. Renovaro stock spiked 83% on the day, trading 78.5x its preceding 30-day average volume.
At the time of the announcement, GEDi Cube was a 2-month-old entity with “no operational history”, no product, no revenue and virtually no assets, according to disclosures made months later. GEDi basically consisted of only a term sheet to acquire an entity called Grace Systems, which it claimed had AI technology.
Grace Systems was a nearly insolvent tiny startup with no revenue and no commercial ready product after 10 years. It reported having $1,583 in cash on hand with ~$376,000 in liabilities at year end 2022. In April 2023, a Grace subsidiary filed for bankruptcy in the Netherlands.
GEDi needed €1 million to own 51% of Grace, implying a ~$2.2 million valuation for Grace. But the newly formed GEDi entity had next to nothing, so Renovaro lent it the needed $1.05 million to close the deal.
During merger negotiations to merge with Renovaro, GEDi then proposed a valuation of $225 million, which Renovaro rejected because GEDi “generated no revenue and had no projections”.
Renovaro and CEO Dybul then apparently negotiated against themselves, relying on a valuation opinion from an unnamed “AI expert” that ultimately resulted in Renovaro agreeing to pay $275 million in consideration for GEDi.
In brief, Renovaro and CEO Dybul lent GEDi the cash to close the Grace deal at a ~$2.2 million implied valuation, then turned around and merged with GEDi for $275 million in consideration after a hard-fought negotiation against himself.
Renovaro has repeatedly touted the importance of “visionary” former Intel/Nvidia executive Craig Rhodes as CEO of GEDi Cube. Shareholders likely voted for the deal in part due to Rhodes’ background. Rhodes confirmed to us in an email that he resigned in December 2023, a month before the vote, with no apparent disclosure of the key resignation to shareholders.
Renovaro also touted the appointment of Lester Russell, GEDi’s Chief Medical Officer, in an August 2023 press release. Russell also resigned in December 2023, also without disclosure to shareholders.
Renovaro and Dybul also repeatedly highlighted GEDi’s “strategic partnership” with Nvidia as a key justification for the merger. But the Nvidia “partnership” is a free program that over 17,000 companies have joined.
In the months leading up to the merger vote, Renovaro enlisted stock promoters, including one previously sanctioned by the SEC, to hype up the GEDi deal and pump shares to retail investors.
Dybul now claims that GEDi can provide a “multiplier effect” that will enhance Renovaro’s pipeline.
The company’s lead candidate remains Gumrukcu’s cancer therapy. Dybul still touts the jailed magician’s treatment, referring to it in January 2024 as “the holy grail of cancer research” and hopes to begin human trials later this year.
In an ironic twist, Gumrukcu’s husband sued Renovaro’s key executives and financiers in January 2024, alleging a range of securities law violations by Dybul and Sindlev, among others. The complaint alleges Sindlev purchased significant Renovaro stock while in possession of material nonpublic information relating to the merger.
The complaint also cites damning internal emails to allege Dybul is engaged in a “wink and nod scheme” with Renovaro’s financier Lincoln Park Capital, whereby Renovaro provides them with non-public information ahead of key company news to help Lincoln Park trade against Renovaro’s own shareholders.
Gumrukcu and his husband are a key holder of Renovaro, with ~19 million shares, or ~28% of the company. The family of Gumrukcu’s murder victim sued him for wrongful death and courts have frozen 12.8 million of his Enochian shares to cover potential damages.
Gumrukcu’s husband still owns 3.6 million free-trading shares which we expect will hit the market soon to cover litigation costs and defense costs for the upcoming murder conspiracy trial, slated for later this year.
In conclusion, if your company co-founder and key inventor turns out to be a con artist magician who (allegedly) murdered someone and faked his scientific data, you can’t just change your company name and pivot to AI and hope no one notices.
CEO Mark Dybul appears set on trying to run the same shameless scam with a new name. We think he is in a league of his own as far as poor judgment and governance and see inevitable massive downside in shares of Renovaro.
Initial Disclosure: After extensive research, we have taken a short position in shares of Renovaro Biosciences, Inc. (NASDAQ:RENB). This report represents our opinion, and we encourage every reader to do their own due diligence. Please see our full disclaimer at the bottom of the report.
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Reports I read say this is a TOTAL SCAM. Beware.
Opti
lookin for the short volume for yesterday, which by the graphs appeared to be around 90%. Nearly all the volume was on the sold side.
Planning for the future: "We already have several manufacturing lines built for the new device and testing cups and have recently signed a new lease to add to our production capacity. Headcount has grown over 66% compared to prior year quarter. Our investments in talent and R&D remain positive indicators of the progress we are achieving to drive further value for our shareholders. This is facilitated by our strong cash position that reflects our success to this point, and provides the necessary flexibility as we remain in the forefront of the challenging diagnostic landscape."
Opti
With the projected global addressable TB market of $3.13 billion, I would love to see a future PR at the time of the relaease of one of the grants to emphasize that CODX is aggressively pursuing that market. $$$$ earnings in the future.
Opti
And more from Dwight: "The global addressable TB diagnostics market is expected to grow from 2.07 billion in 2022 to 3.13 billion by 2029. We believe the interest among NGOs and our new platform partially reflects their refocus on eradicating TB. We regard these grants as being in lockstep with the natural evolution of our vision and strategic plan. The company’s first CE marking received 5 years ago this July was for our Logix Smart MTB test built using our CoPrimer’s technology. The difference between then and now is we have grown beyond mere aspirations and now find ourselves fully in execution mode. With internationally recognized technology, world renowned experts and a point-of-care platform different from anything the world has ever seen, I want to emphasize that our new platform has been designed and engineered to be versatile and durable, with long-term disruptive potential as a diagnostic medical device. Harnessing the power of our patented battle tested CoPrimer’s technology coupled with other proprietary IP, we believe this platform sets a new benchmark for compact point-of-care testing that unlocks the multiplexing potential of real-time PCR."
Opti
Further comments by Dwight: "Other grants relate to a tuberculosis product being designed and verified on the Co-Dx PCR Home platform in preparation for validation and clinical trials. Tuberculosis abbreviated MTB or just TB has been highly endemic in certain geographic regions for generations. And despite all advances in modern medicine still took the lives of 1.6 million people in 2021. Some of the uptick in TB incidences and death since 2020 may be the result of funding that might otherwise have been allocated to TB being re-appropriated to COVID-related concerns. This has created an urgency among NGOs to slow the spread of the disease to increase access to gold standard real-time diagnostics, exactly in line with our mission and our new platform."
Opti
Dwight at the earnings call "Recently, we were notified that we had been selected to receive multiple grants for our respiratory multiplex and tuberculosis tests on our new platform. While we are unable to announce the details of these grants, we believe the recognition from these prominent organizations is a testament to the platform technology we are bringing to market, including the new device and our patented CoPrimer technology. One grant is related to the ABC plus RSV respiratory panel on the Co-Dx PCR Home platform as well as additional platform enhancements and was a monumental task that involved a thorough investigation by industry experts into every aspect of the platform. It’s design, history, the chemistry of the reagents, and the individuals responsible with making our vision a reality."
Opti
Earnings today after the close.
Opti
News Release Issued: Mar 9, 2023 (9:30am EST)
To view this release online and get more information about Newsroom | Co-Diagnostics, Inc. visit: https://news.codiagnostics.com/2023-03-09-CO-DIAGNOSTICS,-INC-ANNOUNCES-FOURTH-QUARTER-AND-FULL-YEAR-2022-EARNINGS-RELEASE-DATE-AND-WEBCAST
CO-DIAGNOSTICS, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 EARNINGS RELEASE DATE AND WEBCAST
SALT LAKE CITY, March 9, 2023 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today it will release its fourth quarter and full year 2022 results on Thursday, March 16, 2023, after the market close. The Company will also host a conference call and webcast on the same day at 4:30 p.m. EDT to discuss its financial results with analysts and institutional investors.
under normal circumstances, I would say that looks like a ramp up for production. But, with this company, who knows?
Opti
I don't know how this stock is shorted every day. There aren't many shares in the float and the price is beaten down. How is this manipulation possible?
Opti
looking forward to the day these shorts are burned
Opti
Unbelievable email from John.
Dear New Colombia Resources (NCR) Stakeholders,
As 2022 closes out, I'd like to let everyone know that we have been developing our Concession Contract ILE-09551. Earlier this month we socialized our project again with the local community, committing to various social projects.
Yesterday we met in Guaduas with a team from the CAR (Environmental Agency) on our appeal of the decision to deny our environmental license. Unfortunately, we will need to submit a new application, but fortunately we have a team of engineers that is partnering with us to do so, at a cost of approx. US$ 150K that will take 7-8 months. We can organize our logistics and mining plan in the meantime.
My tentative plan is to apply to OTC Markets to list your shares, I've contacted Consultia USA, https://www.consultiausa.com/ to assist us in preparing our balance sheets and annual disclosures for 2021 and 2022. Once they're filed, we have an attorney that can provide an Opinion Letter. There is also the option of merging into an existing pubco.
Sannabis is in talks to be acquired by Ultimate Sports, Inc. (OTC: USPS), NCR has equity in Sannabis, which has been developing nicely. I think we accomplished the more material forward looking statements by NCR, mainly obtaining licenses, etc. You can follow us at www.sannabis.co.
I'm also in talks with miners from West Virginia interested in ramping up our coal operations. Recently they visited Guaduas and Puerto Dorado to look into a coal barge operation on the Magdalena River to Barranquilla. Ideally, we would coke our coal in Guaduas and ship Big Bags in Containers down the River to be exported.
They're coming back down in January with their mining engineers to develop a drill plan to determine how we will mine our coal.
It's important for you to know that coal miners and traders from all over the world are coming to Colombia. There is coal boom right now that I forsaw when nobody else did. Now it's time for me and my shareholders to collect rewards, all is not lost. This article is about demand for Colombian thermal coal, met coal is even in more demand, https://www.bnamericas.com/en/interviews/colombian-coal-stoking-high-hopes-for-growth
If, and when, NCR files to OTC Markets we will issue PR's and set up a Twitter page to keep you informed.
Thank you and Happy New Year.
Best regards,
John
John Campo
President
New Colombia Resources, Inc.
(1)-410-236-8200 USA (Office/WhatsApp)
(57) 318-657-0918 Colombia
jcampo@newcolombiaresources.com
It is
John Campo: God will deal with you in His time. Either make amends or prepare to meet your maker.
Opti
I am optimistic. I have held for two years waiting for "the box." Praying we see clinical trials next month followed by FDA submission for approval. If this goes according to plan, we may strike gold.
Opti
definitely encouraged
Opti
That was a really good call, lots of information that I have sought for the past 6-9 months. Looks like clinical trials in January, then submission to the FDA. Also liked the question on marketing to Dr offices. We are headed in the right direction.
Opti
Theodore O'Neill
Thank you so much. The question I have is on the strategy for the PCR Home test. Wouldn't it make more sense to market this to doctors' offices and veterinarians first and then have it sort of become the gold standard and then bring it to the masses? And I was wondering if you could talk about why you've chosen to market to the masses first.
Dwight Egan
Yes. So Theo - nice to hear from, Theo. This was also part of the question that was asked by the analyst from H.C. Wainwright. We are marketing to both the at-home market and the physician office and the dental market and secondarily to that, to the veterinary market and chiropractic market and such.
We have spent a considerable amount of money on market - field market researching with Radius, which is a very good company in field marketing research, one of the best in the world. And so they've done a significant study for us as to how our product would be received and at what price points and such.
And you are quite right. The physician and dentistry markets are primary for the introduction of this test on a point of care basis. We refer to the product as it relates to physicians and dentists as - as the Co-Dx PCR Pro device, but it is basically the same device.
And I think the takeaway I would want you to get from this, Theo, is that we've taken more time than we had originally expected to bring this device to get ready for the clinical trials. And at the end of the day, we ended up with a much more robust device than we had previously set out to do.
And so we're very comfortable taking it into the physicians and dentists and into those markets that indeed are really a great market to take this, and we - that's what we will be doing. We'll be doing that concurrently with what we're taking into the home market. It's going to involve more than just the home market, right from the get-go.
Tuberculosis kills 1,000 people a day roughly in India and has done for many, many years, does the same in China. We are now going to be entering into a world where our proprietary CoPrimer technology is going to be applied against a whole bunch of other infections. There are roughly 1 million STI infections a day in the world. And these are the kinds of things that we're going to be interrogating as we go into the future. We're also working closely with certain NGOs around the world who are participating and trying to provide solutions to things like tuberculosis, which frankly have been rather ignored during the COVID pandemic, which is ongoing.
And we are anticipating some material ramifications of those NGOs in dealing with our new platform, which enables them to put a very inexpensive solution in the hands of laboratories and governments and other end users around the world with the device that costs in the neighborhood of $300 at retail and tests that are very inexpensive compared to what's offered by the competition. You also asked about our competition. We really believe that our device stands by itself and speaks for itself in terms of how it competes with what else is out there. This is not an antigen test. It's not an isothermal or LAMP technology test.
A clinical trial for an Emergency Use Authorization is not particularly large in terms of the number of patients. So we anticipate that, that will be concluded in relatively short term once we begin them in January of 2023. Once we compile the data and submit it to the FDA, it's up to the FDA as to how soon they respond to us. So that's kind of a - where we lose control of the timing mechanism. You also asked about our - how we view COVID in relation to our at-home and point of care.
Thank you. CODX should be on the rebound. I am looking for the PPS to slowly climb back above $7 and then jump on the announcement of "the box." From there we gain in the future in accordance with contracts and future earnings related to the success of the box.
Opti
Waiting for "the box"
Opti
Shorting of this stock is insane.
Opti
It's all about the box. Without it we eventually become a zero earnings stock with no future. With it, who knows, maybe the moon. They have $96 million and probably one year to make it good.
Opti
Also need a real company. ??
Opti
Earnings after hours today.
Opti
One of the big names in COVID testing is languishing among its peers and might want to acquire technology that expands its depth in testing. Co-Diagnostics (NASDAQ: CODX) has a market cap of $221 million and also appears to have been working on a monkeypox test for the past couple weeks. The company is positioned with approximately $97.4 million in cash equivalents. This puts the company’s enterprise value at $125 million and their book value at $4.32/share in comparison to their stock price of $6.50. In the last quarter, they sold $22.7 million in sales and brought $9.8 million to the bottom line. Their P/E ratio is a mere 5x.
https://insiderfinancial.com/monkeypox-stocks-heating-up-the-charts-tomdf-apdn-codx/183385/
Opti
Consolidated Last Sale $6.2 +0.47 (+8.20%)
Pre-Market Volume 20,895
Pre-Market High $6.45 (08:00:03 AM)
Pre-Market Low $5.92 (04:16:09 AM)
Not today
11/01/2021 email from John
After this is all over with, I'd love to talk with you on the phone and explain in more detail why I think this all occurred. Remember, we spoke with SEC with our attorney in 2017 and said we'd bring NEWC current by Sept. 12, and they suspended us on Sept. 7. Then with VSYM, there a huge false narrative in the suspension order which anybody can verify. Understand this, I've never sold one share of NEWC, nor VSYM for that matter, everything I do is to move these companies forward. That's why I'm writing this, believe what you want, I have no reason to expose myself, but you deserve an answer.
As soon as we enter into agreement for NCR, I'll send you the 8K.
Best regards,
John
________________________________________
SALT LAKE CITY, May 19, 2022 /PRNewswire/ -- Co-Diagnostics, Inc. (Nasdaq-CM: CODX) (the "Company" or "Co-Dx"), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today that Co-Diagnostics will be presenting at the H.C. Wainwright & Co. 2022 Global Investment Conference, being held in-person and virtually on May 23-26 in Miami, Florida.
Dwight Egan, Company CEO, will be conducting a presentation discussing recent Company performance as well as its forthcoming Co-Dx PCR Home Diagnostic Platform. The presentation can be accessed by clicking here or through the Events and Webcasts section of the Co-Diagnostics website on May 25, 2022 at 1:30 PM Eastern Time, for institutional investors and industry professionals who have registered for the event.
Dwight Egan, Co-Diagnostics Chief Executive Officer, remarked "Florida has represented an important market for Co-Dx since the early days of the COVID-19 pandemic, with several world-class distributors and laboratory facilities operating across the state contributing over $28 million dollars of revenue. Our mosquito abatement vertical has also grown steadily in the state since 2019, with additional full laboratory installations taking place in Florida and the surrounding region this year. We are looking forward to the opportunity to communicate our past success and future ambitions with our investor base at the H.C. Wainwright conference in Miami next week."
I guess the light bulb finally went on and you gave up hope that John would keep his word. Welcome to the club.
Opti