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A couple small transactions have gone through and superseded your .02's.
Out of curiosity, what is your rationale for buying? I've wondered who it is that buys greys and why. You don't have to answer if you would prefer to keep your strategy to yourself, I will totally understand that.
I assumed it was folk trying to do the old buy low, sell high but with the added challenge of no visible Bid and Ask. An interesting game, for sure.
That or just buying some to make sure to have some shares in the portfolio just in case the company is able to get themselves out of the greys and the holder doesn't want to be in the position of chasing.
What else could there be?
Ask? Isn't AXMP still on the greys?
Lol because someone put 0002's on the ask ....
Lol because someone put 0002's on the ask and someone else bought them. Could've been a misplaced buy but time will tell
Just bought 8.500 at .02 and the price is .0002. How is that possible?
The problem is the fact that the latest suspension isnt the first run in for AXM Pharma and its management with the SEC. Falls under of the category of been there done that.
Nothing is "required" of the company. it was suspended, and now it trades on the Grey Market. It can try to find a sponsoring market maker to submit a new Form 211 to FINRA, but that's unlikely to work out.
I wasn't speculating anything. The stock was shut down by the SEC, and now it's on grey sheets. In order for it to become current again, they must follow through with steps required. The other poster said it's dead and will remain that way. That is pure speculation. I will not speculate on whether or not that's true because I don't know. Hence, why I said I do not speculate!
What's so difficult to comprehend here? It isn't rocket science.
I didn't ask you to speculate again, you did that in the post I referenced:
It will only remain dead if they don't follow through with what's required. Speculate much?
You speculate that there is something required of AXMP. I asked for the link(s) to your source.
I have no opinion right now because I DON'T SPECULATE.
Speaking of speculation, where do you see what AXMP is supposed to do, to follow through?
The following link to Renee's post contains both links to information about the suspension.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142174428&txt2find=suspended
What are your links spelling out what is required of AXMP?
It will only remain dead if they don't follow through with what's required. Speculate much?
It will only remain dead if they don't follow through with what's required. Speculate much?
This stock has not been "reborn". It was suspended, and is now Grey. There is no bid or ask, which is why it trades all over the place.
It is dead, and will remain dead.
Anyone know why this stock is being bought. Do you think the company is buying up shares on the cheap, before good news comes out? I find it interesting what seems to be happening as a ten year holder of 200,000 shares of this company. I started buying shares at $10 and bought all the way down to less than a penny. There were many years of this stock being completely dead, so this rebirth for the third time is surprising.
The cocoa guy is back
No I still have mine. :(
7.500 went through. Yours Buffalo?
TDAmeritrade let mr put a buy order in
I'm at the bid for Buffalogirl as I promised. It's just a matter our brokers will come together at that level.
They're not visible but they do exist. When they match up a sale goes through.
Yes I am selling 7500 on TDAmeritrade at .02
King for a day, there is no Bid or Ask for AXMP. EOM
Next week I will do. I'm a few days off.
It’s a matter of time this will turn around the suspension was all bs to blow investors of the track
Where can you sell this ? E*TRADE listed it for sale but it makes me call any time I want to update it
Where can you sell this ? E*TRADE listed it for sale but it makes me call any time I want to update it
I would like to compliment you on your ability to sniff out these informative web pages, in what seem like seconds after they are published. Very informative, in many ways.
I guess this is the way they speak in Nigeria, when workin' a hustle?
https://www.linkedin.com/feed/update/urn:li:activity:6433412605687132160
Cocoa...here we come !
https://www.linkedin.com/feed/update/urn:li:activity:6433412605687132160
Tomorrow I will buy them all
I will honor the .015 if you let me know you are still interested in buying
I have not sold them. I have a sell order in for 7500 shares @ .02 through TDAmeritrade
No. Do you want them?
Well you sold them?
I somehow missed this message. My broker is TD Ameritrade
Selling 7500 shares at .02 TD Ameritrade
I will take them all. If my broker reach your broker. All levels till 2 cents
I'm selling 7500 shares at .015 if anyone wants them
Fidelity. Can’t buy, but was able to sell. This one went the same way CYPE did, but I’m still holding that because my .10 sell was overly ambitious and I’ll watch it go to zero before ditching it for a penny or less!
who is your broker?Etrade still showing as "suspended".Thanks
Mine just sold for a couple pennies (only had 5k).
Its not exactly trading a such. For AXMP there is no bid or ask and its matched trades only.
Investors in AXMP need to start advertising the share price and quantities for sale on boards like IHUB to help garner interest.
But it is trading so we will see
Only one problem here at AXMP though. NO BUYERS.
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NEW YORK, July 02, 2018 (GLOBE NEWSWIRE) -- AXM Pharma, Inc. (OTC:AXMP) (“AXM Pharma” or the “Company”) is pleased to announce that it has entered into a binding letter agreement dated as of June 14, 2018 (the “Letter Agreement”) with a leading Cameroon-based Cocoa exporting company, AS Industries Cameroon (“ASIC”), which fully owns the largest indigenous cocoa exporting company in Cameroon, as well as a state of the art cocoa processing company. The Agreement outlines the proposed terms and conditions pursuant to which AXM Pharma, Inc. and ASIC will affect a business combination that will result in a reverse takeover of AXM Pharma by the shareholders of ASIC (the “Proposed Transaction”). ASIC has positive annual revenues of over $110 million and is swiftly growing to absorb the market even further.
The Agreement was negotiated at arm’s length. Per the Agreement, Mr. Emmanuel Neossi has acquired 70% control of AXM Pharma, Inc. Effective June 25, 2018, Mandla J. Gwadiso, newly appointed Chairman and CEO of AXM Pharma has stepped down and Mr. Emmanuel Neossi has been appointed as the new Chairman of the Board effective immediately. Mr. Emmanuel Neossi was advised by Palewater Advisory Group Inc. on this transaction.
ASIC is a privately held company organized/incorporated under the laws of the Republic of Cameroon, is one of the most dominant players in the fast-growing agribusiness sector of the Central Africa Region. The main activity has been trading in cocoa and coffee since the 90s around which many commercial and industrial activities have since become involved. ASIC markets more than 60,000 tons of cocoa and nearly 10,000 tons of coffee each year to partners in Africa and around the world. Currently the second largest exporter of the sector in the Cameroonian national territory, the company now holds a privileged position in the sub-regional cocoa market with major international groups. The organization works with more than 20,000 agricultural producers to support the global cocoa sustainability program by enabling thousands of families to receive a fair price for the wealth created along the value chain. The expansion of its activities has been crowned by the construction since 2016 of a state-of-the-art plant for cocoa processing and chocolate manufacturing. In 2017, the company started a cocoa industrial culture project to ensure the sustainability of its industrial activity.
Kent A. D. Clark, Chairman of Palewater Global Management Inc., the current parent company of AXM Pharma, Inc., stated thus: “We are very pleased to be adding AS Industries Cameroon into our structure. We are continuing to add to our diverse portfolio by entering the Agri-business realm. I have been deeply involved with Agri-Business as I was growing up and this is a privilege and honour to continue in an area I have a fondness for and have known most of my life. We are providing great benefit to Communities through our continued efforts and partnerships; I look very forward to fostering our relationship moving forward with Mr. Emmanuel Neossi as he is a real Champion. Together we are continuing to look at quality of life and benefit to Community as we build the Company.”
Mr. Emmanuel Neossi, The Chairman of ASIC and Neossi Group, opined that: “For more than two decades, we have been carrying forward an ambitious program of positive changes alongside the cocoa and coffee value chains to support economic growth in Cameroon. Our key strategic objective was therefore to increase value in key agribusiness sectors that have a strong ripple effect on the rest of the economy to ensure sustained improvements in people's livelihoods.
“I am very pleased to have acquired AXM Pharma and, having been appointed the new Chairman of the Board of Directors of the company, this will enable me to assume the key leadership role in the sub regional cocoa market and around. This transaction matches completely well with our holistic approach and vertical integration strategy.
“I have an unshakeable belief in the capacity of agribusiness in general as well as cocoa and coffee in particular to transform the economic and social structures in developing countries. Agribusiness in Africa and related services are expected to experience unprecedented growth. The intensive production and the retention of agricultural commodities such as cocoa on the national territory have given a radiant face to economies such as those of Côte d'Ivoire and Ghana with high margins of profitability remaining. Cameroon still has a lot of leeway unlike these latter countries and all investors may know that agricultural land investments are most welcome opportunity for increased investment in Sub-Saharan Africa agriculture.
“My experience of the global cocoa industry has shown that the oligopolistic structure of this industry has been in existence thanks to the absence of the consumption component in producing countries and the presence of strong barriers to entry like investment costs and technological challenges. Our commitment efforts were rewarded by a significant growth in our nationwide business and a key player position in the most privileged of the very closed circle of the global cocoa industry. I am therefore considered by most people in my region as the national champion for having dethroned the industrial monopoly established by worldwide groups for more than 60 years. Although it cost me 20 years of my life, I know that there is still a long road to go for building a world-renowned group that will be a legacy accessible to investors all around the world. I also appreciated the Palewater team that has worked tirelessly through our different time zones to ensure that this transaction gets to fruition and we believe that if Palewater continues in this trail, they will change how business is done in Africa. It is most definitely a privilege to be the first Cameroonian company to go public in America.”
Terms of the Transaction
The Proposed Transaction will be structured as an amalgamation, arrangement, takeover bid, share purchase or other similar forms of transactions or a series of transactions that have a similar effect with ASIC acquiring total control of AXM Pharma, whereas, the survivor of the merger would be called “Aaron Sparks Industries Inc.”, a transaction that will make Mr. Emmanuel Neossi a 70% control shareholder of Aaron Sparks Industries Inc. (“the merger survivor”). The final structure for the Proposed Transaction is subject to satisfactory tax, corporate and securities law advice for both AXM Pharma, Inc. and ASIC.
Completion of the Proposed Transaction is subject to a number of conditions, including completion of the merger, receipt of all necessary shareholder/shareholding and regulatory approvals, the execution of related/applicable transaction documents, approval of the SEC and FINRA for the business combination and change of name.
In connection with the Proposed Transaction, the Company will be required to, amongst others: (i) change its name to a name requested by AS Industries Cameroon. and acceptable to applicable regulatory authorities; (ii) consolidate/consolidation of its outstanding AMX PHARMA Shares on a basis to be determined (the “Consolidation”); (iii) replace all directors and officers of the Company on closing of the Proposed Transaction with nominees of ASIC; and (iv) create a new class of non-participating super voting shares that would be issued to the founder of ASIC, Mr. Emmanuel Neossi, under the Proposed Transaction.
In the Proposed Transaction, existing shareholders of the Company as of immediately prior to the completion of the Proposed Transaction would hold post-Consolidated AXM Pharma Shares (whose voting rights will be subordinated) with a value, based on the merger. Further details of the Proposed Transaction will be included in subsequent news releases and disclosure documents (which will include business and financial information in respect of ASIC) to be filed by the Company in connection with the Proposed Transaction. The shares of the Common stock representing 70% of the outstanding Capital Stock of AXM Pharma to be issued to Mr. Emmanuel Neossi for the acquisition of ASIC in the merger will be restricted, therefore there will be no change in the public float of the Company and there will be no reverse stock split either. The transaction is accretive to the current shareholders of AXM Pharma, Inc. as it also remains beneficial to the target on the other hand.
About AXM Pharma, INC.
AXM Pharma, Inc. The Group's principal activity is to sell over-the-counter and prescription pharmaceutical products in The People's Republic of China. The products are currently produced by third-party manufacturers and sold through third-party distributors. On 01-Jul-2006, the Group acquired 51% equity interest in Liaoning Ming Cheng Medical & Pharmaceutical Co., Ltd.
About ASIC.
ASIC is a Cameroon-based holdings company which fully owns the largest indigenous cocoa trading company in Cameroon, as well as a state of the art cocoa processing company, with headquarters in Kekem. ASIC has several drying and storage units in Kekem, Douala or other rural areas in the centre region. In a few years of activity, ASIC through its strong network of producers, producer groups and business partners such as Touton SA, Sucden, Olam International has established itself as one of the leaders in cocoa / coffee trading in Cameroon.
The management team of ASIC is made up of skilled professionals, each having several years of experience such as its CEO Mr. Emmanuel NEOSSI who has 20 years of experience in the cocoa trade area.
Cautionary Note:
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
For more information:
Tel:+1-212-709-8206
Fax:+1-212-943-2300
Source: https://globenewswire.com/news-release/2018/07/02/1532590/0/en/AXM-Pharma-Announces-A-Proposed-Reverse-Merger-with-A-Cameroon-Billionaire-Businessman.html
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