LOL quote, "a company who's common shares have LOST a literal 98% PLUS of their value, is old old old news...... nobody cares....look at the charts"
Pull up a FIVE YEAR CHART, not "old new"?? The stock was $20 plus in 2011, NOT "old news". It's a 66% plus LOSER since 2011. It's been FLAT at best for over 3 yrs and lost 66% of its value since 2011 as the rest of the market passed through probably the greatest bull market run in WORLD HISTORY- with Biotechs being one of the top performing sectors of all, all except this little penny stinker. One would need a 200% plus gain just to break even to even 2011 level.
It's traded FLAT and down for 3 plus yrs now- going nowhere as the market has ripped to all, all, all time highs. Yeah, LOOK AT THE CHARTS.
Further, the 98% TOTAL LOSS to their common shares and the $350 MILLION in sunk capital is 100% relevant to today - as it's the legacy baggage hanging around their necks as a penny, OTC transfer stock. Wonder why they couldn't sell a lousy $62 million secondary VERY RECENTLY? Cause no "sophisticated" investors wanted to pony up for their shares- in the middle of a raging bull market, that's why. Now why would that be?
Um, just "maybe" perhaps, "possibly", "kinda" maybe because they have a highly tainted history of large losses, failure to produce and deliver on promises, of enormous sunk capital losses, of never returning so much as ONE CENT to their shareholders, of endless "GOING CONCERN" warnings (aka liquidity warnings, aka BK warnings), recent (not old news) SEC violations, accounting problems- and too much to list. Just "maybe" IMO?
NOT "old news" but 100% relevant to today- it likely sacked their attempt to float a secondary despite spending a bundle on qty-3 underwriters. Not "old news". They live off of, and survive off of, low grade Lincoln dilution, credit card style, "financing". Limping along, paying the insiders, NOT starting their major phase II trial(s) as promised (another miss again), etc
There's no "old news" here. The stock is not even at break even levels with where it traded many, many, many times on the OTC in the past THREE YEARS, as the bull market party raged on and left it sitting in the parking spot. Dead money.
LOL, "old news" and "look at a chart"?? Yeah, the picture ain't pretty on a chart- a 3 yr or 5 yr chart with the DOW, NASDAQ and RUSSELL 2000 or any other major metric plotted on the same chart- the dead money versus the raging bull ride.
From their most recent filed 10-K, not "old news" :
PAGE 16:
"
We will require substantial additional resources to fund our operations and to develop our product candidates. If we cannot find additional capital resources, we will have difficulty in operating as a going concern and growing our business."
"Other than our arrangement with Lincoln Park, we have no sources of debt or equity capital committed for funding. Recent attempts to raise capital in the public equity markets have proven unsuccessful, and we can provide no assurance that we will be successful in any future funding effort. "
PAGE 37:
"We have no therapeutic products currently available for sale and do not expect to have any therapeutic products commercially available for sale for a period of years, if at all. These factors indicate that our ability to continue research and development activities is dependent upon the ability of management to obtain additional financing as required."
PAGE 43:
" As of December 31, 2014, the Company has an accumulated deficit of $349.1 million, recurring losses from operations, and negative working capital which raise substantial doubt about the ability of the Company to continue as a going concern. Furthermore, an emphasis of matter paragraph related to an uncertainty as to the Company’s ability to continue as a going concern has been included in the auditor’s opinion."
And on, and on and on- pages and pages of it. NOT "old news". The BULL MARKET rages on and little ole OCAT can't even attract or raise any high quality large financing? Why? Why would that be? The markets are awash in CASH and companies are raising capital by the super tankers full for the past several years- but not this one? Why? Why would that be?
