Optionable Inc fka OPBL

[Drugdoctor]

$OPBL - Due Diligence...

Mark A. Nordlicht-Co-Chief Investment Officer, Managing Partner, and Chairman , Platinum Partners
This person is connected to 3 Board Members in 3 different organizations across 5 different industries.


48 --
Background
Mr. Mark A. Nordlicht serves as the Co-Chief Investment Officer, Managing Partner, and Chairman of Platinum Partners. Mr. Nordlicht previously served as the Chief Investment Officer at the firm. He founded the firm. Mr. Nordlicht is also a Co-Chief Investment Officer at Platinum Management (NY) LLC. He serves as the Manager at Fennmore Holdings LLC. Previously, Mr. Nordlicht was the Founder, Chief Executive Officer, and Chairman of Optionable. He was the Founder at WEC Asset Management, LLC. Mr. Nordlicht served as the Founder and Managing Partner at West End Capital from 1997 to 2001. In addition, he was the Founder and Managing Partner at Northern Lights Trading, which Mr. Nordlicht had founded in 1991. He served as the Chief Executive Officer at iDerive. Mr. Nordlicht served as a Principal Financial Officer and Principal Accounting Officer at Platinum Energy Resources Inc. He started his career as a Trader in the pits of the New York Cotton Exchange. Mr. Nordlicht serves as the Executive Chairman of Platinum Diversified Mining Inc. He has been a Director of Platform Acquisition Corp. International since October 2006 and China Cablecom Holdings, Ltd. since November 17, 2010. He served as the Chairman and Director of Optionable Inc. from February 2000 to May 2007 and Platinum Energy Resources Inc. from April 25, 2005 to October 2007. Mr. Nordlicht earned a B.A. in Philosophy from Yeshiva University.

09/share-NOLs-Debt-free-Insiders-bought-millions-for-.02-and.03

Low floater... The number of shares of registrant’s common stock outstanding, as of May 15, 2015 was 73,074,242.

Optionable, Inc. (the “Company”) is a corporation that was formed in Delaware in February 2000. Between April 2001 and July 2007, a substantial portion of our revenues were generated from providing energy derivative brokerage services to brokerage firms, financial institutions, energy traders and hedge funds worldwide.

The Company has not generated any revenues since the third quarter of 2007 as a result of the termination of the business relationship with its largest customer in 2007 together with the combined succession of events since then. The litigation matters listed below and discussed in Item 3 of Part I of this Report, "Legal Proceedings," have all been resolved, settled and dismissed, however they have historically had a significantly adverse impact on its business and financial condition, though all such matters have since been settled and dismissed.

The Company’s management is exploring and seeking possible business transactions and new business relationships in areas unrelated to brokerage services. In addition, the Company’s management is exploring and seeking possible sources of additional capital to fund the Company’s ongoing expenses. There can be no assurance that the Company will be successful in securing new sources of capital or business transactions or relationships in areas unrelated to brokerage services.

On April 10, 2013, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Mark Nordlicht, a current stockholder of the Company (the “Subscriber”), pursuant to which the Company sold to the Subscriber an aggregate of 35,500,000 shares of the Company’s common stock, par value $.001 (the “Securities”), at a purchase price of $0.02 per share (the “Purchase Price”), for a total offering amount, before Offering related expenses, of $710,000 (the “Offering”). The Offering closed immediately following the execution and delivery of the Purchase Agreement by the Company and the Subscriber. After giving effect to the Offering, there were 83,833,128 shares of Common Stock outstanding and options to purchase an aggregate of 2,983,000 shares of Common Stock outstanding.

On May 22, 2014, the Company entered into a Settlement Agreement (the “Agreement”) with Mark Nordlicht (“Nordlicht”) and CME Group, Inc. (“CME”) (Nordlicht, together with the Company, the “Optionable Parties,” and the Optionable Parties together with CME, the “Parties,” and each, a “Party”) which sets for the agreement for the final terms of settlement and dismissal of the lawsuit entitled CMEG NYMEX Holdings, Inc. v. Optionable, Inc. et al., No. 09-CV-3677 (S.D.N.Y.) (the “Litigation”). Pursuant to the Agreement, Nordlicht agrees to make a settlement payment to CME on or before June 3, 2014, and CME agrees to return to the Company 10,758,886 shares of common stock issued by the Company to it in 2007. The Company accounted the return of 10,758,886 shares as treasury stock. After giving effect to the Settlement Agreement, there are 73,074,242 shares of Common Stock outstanding and options to purchase an aggregate of 4,613,000 shares of Common Stock outstanding.

On July 21, 2014, in a transaction exempt from registration under Section 4(2) of the Securities Act of 1933, the Company executed an agreement to sell 1,000,000 shares of its restricted common stock to an insider at a purchase price of $0.03 per share for a total aggregate purchase price of $30,000. In addition, on September 4, 2014, in a transaction exempt from registration under Section 4(2) of the Securities Act of 1933, the Company executed an agreement to sell 11,000,000 shares of its restricted common stock to an insider at a purchase price of $0.02 per share for a total aggregate purchase price of $220,000. As of September 30, 2014, $69,000 had been funded and the shares will be transferred upon the completion of the entire agreed upon fundings. The receipt of $69,000 was accounted as stock subscription in the accompanying balance sheet as of December 31, 2014.



The Company was a defendant in two significant legal proceedings, one brought by its largest stockholder, Chicago Mercantile Exchange/ New York Mercantile Exchange (“NYMEX”) which was settled on May 22, 2014, and another brought by its former largest customer, Bank of Montreal (“BMO”), which was settled during 2013. As such, as of the date of this Annual Report on Form 10-K, the Company is no longer involved in any legal proceedings.


-Note 7 - Income Taxes-continued

The Company has net operating losses of approximately $7,085,894 as of December 31, 2014 for both federal and state tax purposes that expire in 2034.

The valuation allowance of deferred tax assets increased by approximately $305,156 during 2014.

https://www.sec.gov/Archives/edgar/data/1303433/000143774915010396/opbl20141231_10k.htm