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CCYG registration revoked:
https://www.sec.gov/litigation/admin/2019/34-86243.pdf
CCYG SEC Suspension for severely delinquent Financials:
https://www.sec.gov/litigation/suspensions/2017/34-81490.pdf
Order:
https://www.sec.gov/litigation/suspensions/2017/34-81490-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2017/34-81489.pdf
interesting volume
INTERESTING!
i wonder who was buying today and what they think they know. not big money by any means, but still.
CCYG the ol fraud biotech. always on radar because well, just look at XTLBY. you never know what they'll do.
looks like like kind of trend reversal on anemic volume
ty~ spring is in the air :)
Watching...It's interesting that insider bought 4M shares in 11/8/2011...may not get in since the lack of action.
http://ih.advfn.com/p.php?pid=nmona&article=50228805
S-8 registering 15 mil shares to hand out to employees...
and 5mil additional shares to issue for good measure...lol
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7925451
they will run it at some point so they can sell those...
Our plan of operations under our Interim Operating Plan for the next 12 months is to:
(a)
perform the work specified by out Interim Operating Plan under recently executed contracts with our scientists and manufacturing consultants.
(b)
apply for State and Federal research grants to develop specific configurations and applications of the bioreactor device.
- 13 -
(c)
support the beta testing of our bioreactor product as specified in our agreements with independent research laboratories to maximize the possibility that such labs will adopt our bioreactor technology to satisfy their cell expansion needs.
(d)
continue small scale manufacturing of our cell expansion culture chambers, as needed, to maintain an adequate supply of bioreactors for the academic and institutional research organizations with which we have beta testing collaboration agreements.
(e)
locate and occupy new office, lab and manufacturing space if required to execute our Interim Operating Plan
From 10Q filed 5.17.11
Over the next 12 months we anticipate that we will require an aggregate of $700,000 in cash and stock-based compensation to cover expenses and debt service, including certain accounts payable, as follows
a)
$50,000 for facility and equipment related expenses;
(b)
$60,000 for debt service;
(c)
$120,000 for pre-clinical work, quality assurance, manufacturing of biologic material, academic collaborations and further research collaborations;
(d)
$80,000 for design and device manufacturing;
(e)
$150,000 for legal expenses related to general corporate matters, and accounting expenses related to quarterly reviews and annual audits;
(f)
$125,000 for salaries and consulting; and
(g)
$115,000 for general and administrative, travel, conferences and public relations.
This had some headline today..
Wonder if this gets a run? I'd be interested in knowing any current operations. I think these guys are struggling to get funding. Old management is completely gone.. This could be a 5 bagger in here at minimum, to anybody with patience.
Gary Reys, the Seattle man facing civil charges from the U.S. Securities and Exchange Commission for the CellCyte Genetics Corp. pump-and-dump, has won a motion to dismiss the complaint. He successfully argued that one paragraph of the complaint was too vague in describing how he approved text used in spam e-mails, blast faxes and newsletters touting CellCyte. He said that the paragraph did not state what fraudulent statements he made, or how they were fraudulent.
Brent Pierce again, eh?
Shells, stock land mines and a regulator that shoots blanks
David Baines
Vancouver Sun
Tuesday, September 15, 2009
http://www2.canada.com/vancouversun/columnists/story.html?id=15783016-58c4-4bd6-9a3e-857d7a3bd274
In November 2007 -- five months after B.C. Securities Commission Chairman Doug Hyndman announced a five-pronged assault against made-in-B.C. stock scams that trade on the U.S. over-the-counters -- I reported on yet another made-in-B.C. stock scam that was setting up to ravage investors on the OTC Bulletin board in the U.S.
CellCyte Genetics Corp. -- a biotech company "engaged in the discovery and development of breakthrough stem-cell enabling therapeutics" -- had rocketed to $6.40 per share, giving the company a total stock market value of nearly $400 million US.
I noted that, like so many other bulletin board frauds, this one was conceived as a nondescript Vancouver exploration company called Shepard Inc. Its only asset was a strip of moose pasture in the Northwest Territories acquired for $2,500. This was clearly a ruse: The real purpose was to create a tightly held shell that could be easily manipulated, making it perfect for some future promotion.
Sure enough, once the shares were registered for resale with the U.S. Securities and Exchange Commission, the company announced it would acquire stem-cell technology. SEC filings later revealed that Brent Pierce, a notorious West Vancouver promoter who had been banned from the B.C. market, was behind the deal.
"CellCyte is like watching a car collision in slow motion. We are just moments from the impact. The traffic cops are nowhere in sight. Casualties will soon litter the streets. We can only watch," I wrote in December 2007.
Sure enough, within days the stock collapsed. The SEC began an investigation that culminated last week when it laid a formal complaint in U.S. District Court in Seattle against CellCyte, CEO Gary Reyes and chief scientific officer Ronald Berninger.
The complaint alleges that CellCyte failed to raise capital privately, so it "completed a reverse merger controlled by a Canadian stock promoter to become a public company in March 2007." (The merger was with Shepard and the promoter was Pierce.)
The SEC said CellCyte agreed that the promoter (once again Pierce) would receive 15 million free-trading shares as part of an illegal unregistered stock distribution, in exchange for about $6 million in funding.
"CellCyte then made false and misleading statements in several SEC filings and other materials distributed to potential investors," which Reyes and Berninger knew or ought to have known were false, the SEC charged.
Meanwhile, "the stock promoter conducted a promotional campaign on behalf of CellCyte that included millions of spam e-mails, blast faxes, and newsletters containing false and misleading statements, some of which originated from CellCyte's own investor materials."
This boosted the stock to a high of $7.50 US. It has since collapsed to eight cents, "leaving investors who were deceived by the fraudulent materials with massive losses," the SEC noted. Pierce is not identified in the complaint but, according to his Seattle lawyer, he is under criminal investigation by U.S. authorities.
How, you might ask, can a reporter chronicle a fraud in progress and predict its outcome without our securities regulators intervening? Well, welcome to B.C.
For well over a decade, Vancouver promoters -- assisted by local lawyers, accountants and geologists -- have been creating shell companies for illicit purposes. This sort of activity peaked during 2006 and 2007 when, according to the BCSC's own figures, an average of four or five shells, each with a substantive connection to B.C., were being registered with the SEC every week. By the summer of 2008, the total exceeded 1,000.
What happened was that, due to BCSC negligence and/or bumbling, Vancouver promoters were able to plant hundreds of these land mines in the public market. Many, like CellCyte, have already exploded. Many others are still out there, waiting for investors to step on them.
To impede the creation of shells, the commission created new rules requiring any company that had a substantive connection to B.C. to become a reporting issuer in B.C. This would place the company squarely under the commission's jurisdiction. Just over 800 companies were initially deemed to fall into this category. Upon closer examination, about half were deemed not to have a strong enough connection to B.C. to trigger the reporting requirement. Of the remaining 400, about 200 became reporting issuers, 130 others were cease traded for failing to meet the reporting requirements, and the rest are not yet trading, so they are not required to report.
Concurrently, the commission implemented a surveillance program to detect unusual share price fluctuations, and a protocol to review press releases and follow up on questionable disclosures. As well, commission staff -- often accompanied by RCMP and SEC staff -- started knocking on promoters' doors, making their presence known.
The tactic has worked. The creation of new shells has slowed to a trickle, to about one or two every month. For this, Martin Eady, the commission's director of compliance, and John Porges, who is heading up this initiative, deserve much credit. But the program has serious limitations.
First, a cease-trade order in B.C. means little or nothing to most companies that trade on the U.S. over-the-counter markets. The bulk of their trading occurs in the United States.
Secondly, the rule does not apply to companies that have significant shareholders in B.C. The argument here is that issuing companies have no control over who buys their shares. This is a joke. With penny stocks, the largest shareholders are almost always the controlling minds.
Thirdly, promoters are now restructuring their affairs to give the impression they have no B.C. connection. In essence, one game has given way to another.
Fourthly, this program does not, and cannot, extend to shell companies that have left the jurisdiction. As mentioned, these companies are like land mines waiting to explode. Investors will reap the whirlwind of the BCSC's neglect for years to come.
Fifthly, this program is a necessary, but not sufficient, prerequisite to regaining control of the market. A cease-trade order should not be the end game, it should trigger real enforcement action where individuals are called to account for their misdeeds and sanctioned accordingly. In B.C., however, shell packagers have been able to operate with virtual impunity.
One example is Jupiter Resources Inc., which was packaged by (or with the assistance of) Surrey lawyer Scott Morrice.
In my Sept. 4 column, I noted that Jupiter had changed its address from B.C. to Saskatchewan to avoid the new reporting requirements. I described Jupiter has "yet another scam-in-progress" that had escaped the "myopic oversight "of BCSC chairman Doug Hyndman.
This was not accurate. Eady's staff had, in fact, issued a cease-trade order against the company on grounds it had a substantive B.C. connection and had not complied with the new reporting rules.
But to what end? Like the hundreds of other made-in-B.C. shells, nobody has been punished for foisting this sham onto the market. Like CellCyte, the BCSC will wait until the land mine explodes, then leave it to the SEC to clean up the mess.
dbaines@vancouversun.com
http://www2.canada.com/vancouversun/columnists/story.html?id=15783016-58c4-4bd6-9a3e-857d7a3bd274
SEC launches case against CellCyte Genetics
2009-09-08 20:53 ET - Street Wire
Also Street Wire (U-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-CCYG) CellCyte Genetics Corp
by Mike Caswell
http://www.stockwatch.com/newsit/newsit_newsit.aspx?bid=Z-C:*SEC-1641692&symbol=*SEC&news_region=C
The U.S. Securities and Exchange Commission has filed civil fraud charges against CellCyte Genetics Corp., a Seattle-based company that allegedly misled investors about the prospects for its stem cell technology. The SEC says that CellCyte had no basis to claim that the technology, which purportedly helped repair organs, was headed for human trials.
The complaint comes 20 months after the company's shareholders launched a class action lawsuit against Vancouver promoter Gordon Brent Pierce and others, claiming that Mr. Pierce financed a misleading promotional campaign touting CellCyte. The SEC does not name Mr. Pierce as a defendant in its lawsuit. It does repeatedly refer to a Canadian promoter, but it does not provide a name for that promoter.
SEC's complaint
The SEC's complaint, filed on Sept. 8, 2009, in the Western District of Washington, names as defendants CellCyte and its former chief scientific officer, Ronald Berninger, 63, of Mukilteo, Wash. According to the complaint, CellCyte partnered with a Canadian stock promoter who pumped the company to a $7.50 high in the fall of 2007. (All figures are in U.S. dollars.) The stock then collapsed, falling to eight cents and leaving investors with massive losses, the SEC says.
The complaint states that CellCyte's technology, a purported advance in stem cell research, was actually an untested idea that a scientist had developed in 2001. The scientist, who worked for a government agency, had observed that a special compound would cause stem cells to migrate to specific organs. This would allow scientists to overcome a problem of stem cells being quickly flushed from the body. The scientist told Mr. Berninger that she had performed only preliminary research, and that her testing had killed some mice, the complaint states.
The SEC says that CellCyte paid $90,000 to license the discovery. The agreement required the company to raise $5.5-million within one year for additional research.
Around the same time, Mr. Berninger met with the Canadian promoter, who controlled a public shell company, Shepard Inc., the complaint states. They conducted a reverse merger, taking CellCyte public. The SEC says that as part of the merger, CellCyte received $6-million from the Canadian promoter and other investors, and the promoter received 15 million free trading shares of CellCyte. As a result, the Canadian promoter controlled 90 per cent of the company's public float, the complaint states.
After the merger, the company attempted to develop the stem cell compound, without success, the complaint states. The SEC says that experiments using it in mice failed to produce any of the results needed. In spite of the lab failures, the company claimed in regulatory filings that it had the first stem cell enabling drugs that were headed for clinical trials. The SEC says that Mr. Berninger knew that CellCyte had never filed an application for an investigational new drug, and had no FDA approval to begin clinical trials.
The company also falsely claimed that it was testing its compound with the ultimate goal of being able to repair the human heart, the SEC alleges. "In reality, Berninger knew that CellCyte never attempted any research nor achieved any results to prove that its stem cell technology could repair the heart in mice, a prerequisite to beginning any clinical trial to repair the heart in humans," the complaint reads. CellCyte also failed to disclose several important pieces of information, including that fact that it had not done any toxicology tests on the special compound, the SEC says.
Around the same time, the Canadian promoter was preparing a $2-million campaign to tout the stock, according to the complaint. Between August and December, 2007, he allegedly distributed millions of spam e-mails, blast faxes and newsletters that contained misleading statements about CellCyte. During the campaign, the stock rose from $4 to $7.50, and the daily trading volume increased from 2,000 to more than 100,000 shares, the complaint notes. This gave the company a market capitalization of $450-million at one point.
The campaign concluded in January, 2008, after the Canadian promoter had dumped much of his stock into the market, the SEC says. The stock declined below a dollar, and last traded for five cents.
Mr. Berninger and CellCyte, without admitting to any wrongdoing, have settled the case without a hearing. They have each consented to a permanent injunction barring future violations. In addition, Mr. Berninger has agreed to pay a $50,000 penalty and to serve a five-year ban from acting as an officer or director of a public company.
The SEC also filed a separate complaint on Tuesday against CellCyte's former chief executive officer, Gary Rays, 64, of Freeland, Wash. That complaint is nearly identical to the one against Mr. Berninger and CellCyte. Mr. Rays has not settled the charges.
Shareholder lawsuit
On Jan. 14, 2008, shareholders launched the class action lawsuit in the Western District of Washington. The suit named as defendants CellCyte, Mr. Reys, Mr. Berninger and Mr. Pierce. It alleged that Mr. Pierce, through his Zurich-based stock promotion firm Stockgroup AG, paid for a misleading 12-page colour mailer touting CellCyte. The mailer was allegedly created by Florida newsletter writer James Rapholz, who received $445,000 for his services.
Mr. Pierce denied any wrongdoing. In a motion to dismiss dated Nov. 10, 2008, he said that there was no evidence that he made any misleading statements touting CellCyte. He was not an officer or director of the company, nor did he participate in its day-to-day management, he claimed. He further said that the newsletter touting CellCyte did not attribute any statements to him or to Stockgroup AG. The judge has not yet ruled on his motion.
Prior regulatory actions
Shareholders, in their suit, noted that Mr. Pierce has been subject to prior regulatory actions. On June 8, 1993, the B.C. Securities Commission banned him for 15 years. The BCSC's case centered around money raised for Bu-Max Gold Corp., a former Vancouver Stock Exchange listing. According to an agreed statement of facts, the company raised $210,000 (Canadian) in May, 1989, for exploration. It then paid $100,000 (Canadian) of that money to a private company controlled by Mr. Pierce for purposes which did not benefit Bu-Max. The BCSC ban expired on June 8, 2008.
More recently, the SEC fined Mr. Pierce $2.04-million for the alleged Lexington Resources Inc. pump-and-dump. The regulator said he and his associates made $13-million dumping Lexington as the stock rose to $7.50. Mr. Pierce did not appear at a three-day hearing the SEC held in Seattle in February, 2009, for the Lexington case. He instead sent his lawyer, Christopher Wells. The promoter said he was concerned he could be arrested if he went to Seattle, because federal prosecutors were investigating him for CellCyte.
http://www.stockwatch.com/newsit/newsit_newsit.aspx?bid=Z-C:*SEC-1641692&symbol=*SEC&news_region=C
The shareholder, a Vancouver, B.C.-based stock promoter named G. Brent Pierce, was then under a 15-year ban by the B.C. Securities Commission.
Troubled CellCyte biotech shuts down
By Ángel González
Seattle Times business reporter
http://seattletimes.nwsource.com/html/businesstechnology/2008553135_webcellcyte23.html
CellCyte Genetics, whose market value briefly put it among the region's biggest biotech firms last year, has shut down -- and hasn't been able to pay rent on its Bothell headquarters.
"We presently do not have sufficient cash to fund our operations, and have curtailed substantially all activities," the company said in a delayed quarterly report, filed Monday with the Securities and Exchange Commission.
CellCyte said it had $5,734 in cash at the end of September, and for duration of the third quarter, it couldn't pay the lease on its facility. The company said it was talking with the landlord to renegotiate the lease and to find subtenants to take over parts of the building. The landlord is holding on to a $44,000 security depost. It's been a hard fall for CellCyte. The fledgling stem-cell research company, whose shares traded over-the-counter and in the Frankfurt Stock Exchange, saw its value soar past $400 million last year in the wake of a spamming campaign paid for by one of its main shareholders. The shareholder, a Vancouver, B.C.-based stock promoter named G. Brent Pierce, was then under a 15-year ban by the B.C. Securities Commission.
CellCyte's shares plummeted in January after The Seattle Times published stories describing the stock-promotion efforts and inconsistencies in the résumé of CellCyte Chief Executive Gary Reys.
The company faces shareholder lawsuits and is under a formal investigation by the SEC. Last August, the company said it had fired some employees and stopped paying salaries to those who remained.
Its technology to make stem cells home in on damaged organs, which promoters hyped in colorful brochures, also turned out to be a disappointment. The latest filing said that in July the company recorded a $569,000 loss on the licenses and patents it obtained from the Veterans Administration, which developed the technology.
As of Tuesday, CellCyte was worth about $9.5 million. From its inception in 2005, the company has lost $10 million.
Ángel González: 206-515-5644 or agonzalez@seattletimes.com
http://seattletimes.nwsource.com/html/businesstechnology/2008553135_webcellcyte23.html
Thanks Scion. I was just in the middle of researching the original Nevada shell cellcyte reverse merged into. Interesting how so many of these scams involve a Nevada corp, and a Canadian connection.lol.
G. Brent Pierce.
Securities Fraud: Class Action Suits Follow Cellcyte Stock Collapse News
January 26, 2008
By Paul Halpern
http://www.lawyersandsettlements.com/articles/01849/securities-cellcyte.html
Kirkland, WA: Startup biotechnology companies like Kirkland-based Cellcyte Technologies often raise investment capital by aggressively promoting their products and potential earnings. That's fair enough; but Cellcyte's promotion campaign, and its consequences, look a lot more like well crafted securities fraud than legitimate marketing.
When Gary Reys--Cellcyte's founder, board chairman, president, CEO, CFO, and few other things--needed a capital campaign, he turned to a Swiss stock promotion firm called Stockgroup AG. Reys claims that his lawyers carefully investigated Stockgroup and found nothing wrong.
However, even cursory investigation would have turned up some unsavory facts about Stockgroup's president, G. Brent Pierce. Pierce, a Canadian citizen, was barred from trading on the British Columbia stock exchange in 1993 for securities fraud that included embezzlement and filing false documents.
Stock Collapse
Since then, he had worked the American and German stock exchanges in a succession of "pump and dump" operations--inflating the value of low-priced stocks by ruthless promotion, dumping his own shares, and leaving hapless investors with worthless paper.
Pierce's promotion of Cellcyte followed this familiar pattern. In November 2007, spam faxes began pouring out of investors' machines in Germany touting Cellcyte as "the stock that's about to take off!" Those came from Stockgroup AG.
So did a full-color 12-page mailer sent to American investors in October. Authored by a PR man named James Rapholz, it shrieked that CellCyte "could be the chance of your lifetime to turn $10,000 into $4 million, maybe even $15 million!" "Now, a practical 'pill-in-a-bottle' application puts the miracle of regenerative medicine within immediate reach!" "This could be the most astonishing investment opportunity since the microchip!" "This truly could be the most astonishing and important medical breakthrough in your lifetime!", etc., etc. Pierce paid Rapholz a cool $445,000 for his work.
Rapholz's hype--which constitutes securities fraud if proven false or misleading--returned value for money as Cellcyte's stock value ran up over $440 million. One Seattle biotech stock analyst remarked that this seemed "a little high, considering not a lot has happened yet." Indeed--Cellcyte's supposed breakthrough technology for delivering stem cells to diseased or damaged organs had yet to undergo clinical trials and would still take years to gain FDA approval.
Cellcyte stock reached a high of over $7 a share when the Seattle Times revealed in early January that Reys' profile on the company Web site was full of false claims about his educational and professional background. Combined with earlier publicity about the "wave of hype" that had pumped up Cellcyte, that brought the company's stock price crashing down by 55 percent in a few days. In late January, Cellcyte stock was hovering in the 50-cent range.
The only good news was that the crash came too early for Reys, Pierce, et al., to start dumping their large stock holdings.
Reys recently told the Seattle Times by e-mail that "We at CellCyte strive to be ... truthful and endeavor to display integrity to the public and insist [on] that with our personnel." Rather than take that claim at face value, however, Cellcyte shareholders have filed class action lawsuits against Reys, Pierce, Rapholz, and other company officers, charging them with securities fraud for artificially inflating the stock price and making misleading claims. That seems like a much better idea.
http://www.lawyersandsettlements.com/articles/01849/securities-cellcyte.html
Scion, do you know who the Canadian IRP was that the SEC referred to in their filing?
SEC Charges Seattle-Area Biotech Company With Fraudulently Hyping Stem Cell Breakthrough
FOR IMMEDIATE RELEASE
2009-195
Washington, D.C., Sept. 8, 2009 -- The Securities and Exchange Commission today charged a Bothell, Wash.-based biotechnology company, its former CEO, and its former Chief Scientific Officer for falsely telling investors that the company's cutting-edge stem cell technology had been proven successful and was headed for human trials.
Additional Materials
Litigation Release No. 21200
http://www.sec.gov/litigation/litreleases/2009/lr21200.htm
The SEC alleges that CellCyte Genetics Corporation merely had a license for a very early stage technology and had no reasonable basis for its claims. Stock promoters hired by the company then spread the false information to investors, briefly driving the stock price to $7.50 before it plummeted back down to under a dime.
"CellCyte and its senior officers knew that it would take years of research to determine whether the stem cell discovery could be developed into a viable product," said Marc Fagel, Director of the SEC's San Francisco Regional Office. "In their rush to cash in on the promise of stem cell research, they concealed the true facts from investors."
The SEC's complaints, filed in federal district court in Seattle, allege that in multiple public filings with the SEC and in other investor materials, CellCyte falsely claimed it had received U.S. Food and Drug Administration (FDA) approval to begin human clinical trials with a special stem cell compound to repair the heart. The SEC alleges that CellCyte did not know how to properly formulate the stem cell compound, had never attempted experiments with the compound to repair organs, and had not satisfied any of the FDA requirements to begin human clinical trials.
The SEC alleges that CellCyte's then-Chief Scientific Officer Ronald Berninger of Mukilteo, Wash., originally approved or participated in the drafting of many of the false and misleading statements, while then-CEO Gary Reys of Freeland, Wash., approved the company's fraudulent SEC filings.
According to the SEC's complaints, CellCyte engaged in an illegal stock distribution by partnering with a Canadian stock promoter, who sent millions of spam emails, faxes and newsletters containing false information about CellCyte. During the promotional campaign from August to December 2007, CellCyte's stock price rose from $4.00 to $7.50, briefly giving the fledgling company a market capitalization of nearly $450 million. The price later crashed to less than 10 cents per share.
The SEC's enforcement action against CellCyte and Berninger alleges that CellCyte violated the antifraud, reporting, and registration provisions of the federal securities laws, and that Berninger violated the antifraud provisions and aided and abetted CellCyte's reporting violations. CellCyte and Berninger agreed to a settlement, without admitting or denying the SEC's allegations, in which they each consented to a permanent injunction; Berninger also agreed to pay a $50,000 penalty and be barred from serving as an officer or director of a public company for five years.
In a separate litigated action, the SEC charges Reys with violating the antifraud provisions and aiding and abetting CellCyte's reporting violations. The SEC's enforcement action against Reys further alleges that he made false statements about his past employment and that he concealed CellCyte's role in the spam campaign. The SEC seeks injunctive relief, a monetary penalty, and an order barring Reys from serving as an officer or director of a public company.
# # #
For more information about these enforcement actions, contact:
Marc J. Fagel
Regional Director, SEC San Francisco Regional Office
(415) 705-2449
Michael S. Dicke
Associate Regional Director, SEC San Francisco Regional Office
(415) 705-2458
http://www.sec.gov/news/press/2009/2009-195.htm
====================
http://www.sec.gov/litigation/litreleases/2009/lr21200.htm
OK folks, CCYG is setting up again here, it's above the 32 day MA and volume was UP today, pps up 15%
Remember, this was at 6 bucks only 4 months ago... and the trend is drifting up
Looks like CCYG is setting up for another run.
I'm still holding it. There's a FORM 10-KSB filing out, April 14:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ccyg#getFilings
looks like it is finally starting to come back, second up day in a row, still early though
today was a bit painful, but tomorrow should be nice, people will be buying now imo
guess i was wrong, we might see retrace to .70 imo
almost time to start moving back up, imo
Absolutely, it was getting too hot. The chart went semi-vertical for about 4 days, heck it was up over 100%
It might drift lower tomorrow, the RSI on the chart bumped off of 90 it looks like. Need some time for consolidation...
http://bigcharts.marketwatch.com/charts/big.chart?symb=ccyg&compidx=aaaaa%3A0&ma=1&maval=9&uf=0&lf=1&lf2=2&lf3=1024&type=64&size=2&state=11&sid=2610274&style=320&time=4&freq=1&comp=NO%5FSYMBOL%5FCHOSEN&nosettings=1&rand=4331&mocktick=1
I think maybe it will start to head back north tomorrow, it was getting a little too hot imo, it was outrunning all of the moving averages, today it bounced down enough to cover that gap, hopefully it wont have to go back down there, all just my opinion.
still dont like the gap, but tomorrow should be nice.
Those last two chucks were both $9K plus buys too, those guys aren't fooling around here.
its nice to see them hitting the ask at the end of the day.
I was waiting all day for them to drop it and fill that gap, finally had to hit the ask.
Could be a short squeeze, but whatever it is the volume today is over 5X the average. That fact alone will make this one show up on many peoples screeners.
I dont like the gap, but this one has lots of room to run if it wants to, imo
This must be part of the reason, also some history on the company:
Saturday, April 05 2008 5:05 PM, EST
SEC inquiry into CellCyte Genetics cited in court filing [Seattle Times]
Knight Ridder/Tribune "Business News "
Apr. 5--The Securities and Exchange Commission initiated an inquiry into CellCyte Genetics, the Bothell biotech whose stock has fallen 93 percent since December, according to a letter written by a lawyer representing the company.
The letter, filed last month in King County Superior Court as part of the company's legal dispute with a former employee, refers to a "confidential inquiry" by the commission. It was written in late February by Rebecca Lamberth, an outside counsel for CellCyte.
German securities regulators are also investigating recent stock-promotion efforts related to the company, The Seattle Times has learned.
CellCyte's market value soared to $440 million last fall as it was hyped by anonymous faxes and colorful brochures paid for by third parties with links to a well-known British Columbia stock promoter. The stock, which trades over the counter, closed at 54 cents on Friday, down from a high of $10.01 last year.
The first allegation of an SEC inquiry surfaced in a police report filed in mid-February by Theresa Deisher, a former CellCyte researcher who said she was being threatened by people at her former employer.
The Feb. 22 letter confirming the inquiry is among the court filings in a dispute stemming from Deisher's departure from CellCyte in October 2007.
Lamberth's letter complains that Deisher made "improper disclosures" in her police report: "... The intentional disclosure of the confidential inquiry by the Securities and Exchange Commission could be seen as nothing more than an attempt to further injure the company in order to create a platform from which she wrongly hopes to profit," the letter said.
An informal inquiry does not necessarily result in a formal investigation by the SEC.
CellCyte executives were not available for comment Friday, attorney Lamberth said in an e-mail.
Companies ordinarily disclose an inquiry or investigation in their quarterly reports, but CellCyte hasn't filed a report since last November. Late last month the company told the SEC it was unable to file its year-end report on time but would do so soon.
In 2007 the fledgling stem-cell research company, with 17 employees and no clinical trials, briefly became one of the region's most valuable biotechs by market capitalization.
Late last year, The Vancouver Sun, of British Columbia, and The Seattle Times reported on the company's ties to penny stock promoters. In January, The Times also published a story about discrepancies in the resume of CellCyte Chief Executive Gary Reys. The company's shares tumbled during the Times inquiry.
The company now faces several shareholder lawsuits. It said in February that "it will defend itself vigorously" and continue developing its patented technology. The company also recently moved to a 26,500-square-foot facility in Bothell.
Meanwhile, a German financial regulator is investigating the source of promotional materials about the company.
CellCyte went public in early 2007 by merging with a B.C.-based mining concern, which traded in the loosely regulated U.S. over-the-counter board, and the Frankfurt stock exchange. One of the company's new investors was G. Brent Pierce, a Canadian stock promoter who is barred from working in British Columbia's securities industry.
Last fall German investors were flooded with unsolicited faxes reproducing what appeared to be a positive story on CellCyte from the German business publication Focus Money.
Complaints from investors reached Germany's Federal Financial Supervisory Authority (BaFin) in December and January. Focus Money itself claimed that the story being circulated was a fake. The magazine "said that they didn't make an analysis" of CellCyte, said BaFin spokeswoman Anja Neukotter.
The agency began a "formal investigation" in January, Neukotter said in a telephone interview.
angel Gonzalez: 206-515-5644 or agonzalez@seattletimes.com
Seattle Times researcher David Turim contributed to this report.
To see more of The Seattle Times, or to subscribe to the newspaper, go to http://www.seattletimes.com.
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I want just going to ask that..without any news..this is awesome!
damn.. this was the first penny I bought...I bought 200 at .363..then sold 150 at .26...Glad i kept 50 shares ahhaha!! hell yea only took a month or 2.
CCYG WEEEEEEEEEEE! Form 4 filing on 4/2, Director John Fluke named: " The Issuer granted 10,417 restricted shares of stock to the Reporting Person at a deemed price of $0.36 per share as payment in kind for the Reporting Person's service on the Issuer's Board of Directors."
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5843193
Prior to that, on March 31 NT 10-K was filed ( FORM 12b-25 - NOTIFICATION OF LATE FILING)
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5835343
I'm not really sure what this is all about, or why the PPS jumped today but I'm not complaining!
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