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Where do you estimate this company would be today if this investment had not been made starting back in 2016. Do you know their history? Did they have anti dilution protection? Did they get more stock than what was agreed to for their original investment. It’s ok to disclose to shareholders and the readers here on the boards any topic you would like to share but let’s be factual. Why don’t you try to reach out to their IR? It sounds like you must have a significant investment in BICX. I just want to help you out.
scam company BICX changed that figure in the last 10Q
now the $4.16 million conversion of the note results in "only" a 70% increase in common shares outstanding - considered MASSIVE DILUTION by any measure
and...
in today's PR, BICX continues with the fraudulent false and misleading comments on the $15.00/share pricing of the private placement, which BICX's own SEC filings have now corrected to a much lower price per share due to the substantial value received by the investors from the Royalty Agreement, in addition to the common shares in the private placement...
but hey, not surprised
and why is this not surprising?
because this is what scam companies do!
But didn’t you say it was going to be 318,000,000 shares? Why is it now much less.
BICX files 8K after close on Friday-Massive Dilution
As $4.16 million note is converted at $1.87/share into about 40% of the total common shares outstanding of BICX after the conversion.
TIMBER!
https://www.sec.gov/Archives/edgar/data/1443863/000147793219005729/bicx_8k.htm
Item 1.01 Entry into a Material Definitive Agreement.
On October 1, 2019, BioCorRx Inc., a Nevada corporation (the “Company”), entered into a Conversion Agreement (the “Conversion Agreement”) with BICX Holding Company LLC, an entity controlled by Alpine Creek Capital Partners (the “Investor”), pursuant to which the parties agreed to the conversion (the “Conversion”) of the Senior Secured Convertible Promissory Note in the principal amount of $4,160,000 (the “Note”), which was issued by the Company to the Investor on June 10, 2016, into 2,227,575 shares (the “Conversion Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”).
In connection with the Conversion Agreement, on October 1, 2019, the Company and the Investor entered into a Lock-Up Agreement (the “Lock-Up Agreement”) pursuant to which the Investor will not sell, or otherwise dispose of the Conversion Shares, during the period commencing on October 1, 2019 and ending six (6) months following the initial closing of the Company’s intended public offering of its securities to raise gross proceeds to the Company of at least $10,000,000 (subject to adjustment in the Company’s sole discretion) (the “Public Offering”). In the event that the Public Offering is terminated or abandoned prior to closing then the lock-up shall expire upon the later of the date which is six (6) months from September 30, 2019 or thirty (30) days from the date of such termination or abandonment.
The Conversion Agreement and the Lock-Up Agreement are dated September 30, 2019, however, the documents were fully executed on October 1, 2019.
Pursuant to the Conversion Agreement, the Investor has agreed that the Total Interest Payment (as defined in the Conversion Agreement) that would have been due under the Note, in the amount of $1,138,156.71, will be reflected on the Company’s financial statements as an amount due and owing to the Investor to be repaid within twelve (12) months of the closing of the Public Offering, or if the Public Offering is terminated or abandoned prior to closing, then on or before such date that is no later than twelve (12) months from the date of such termination or abandonment.
Item 1.01 of this Current Report on Form 8-K contains only a brief description of the material terms of the Conversion Agreement and the Lock-Up Agreement and does not purport to be a complete description of the rights and obligations of the parties thereunder, and such descriptions are qualified in their entirety by reference to the full text of the Conversion Agreement and the Lock-Up Agreement, the forms of which are attached as Exhibits 10.1, and 10.2, respectively, to this Current Report on Form 8-K.
Item 2.03 Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The applicable information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
News out - BioCorRx Announces Capital Restructuring and Provides Business Update
Anaheim, CA - (NewMediaWire) - October 07, 2019 - BioCorRx Inc. (OTCQB: BICX) (the “Company”), a developer and provider of advanced solutions in the treatment of substance use disorders, today provided a business update and reported progress on the development of BICX102, the Company’s sustained release naltrexone implant for the treatment of opioid and alcohol use disorders. The Company also announces that the Senior Secured Convertible Promissory Note of $4.16 million with BICX Holding Company LLC, an entity controlled by Alpine Creek Capital Partners, was converted into 2.22 million shares of common stock in order to simplify the Company's capital structure and further enhance its balance sheet.
Additional details of the transaction are available in the Company’s form 8K filed with the Securities and Exchange Commission and is available on the Company’s website: https://www.biocorrx.com/
Brady Granier, CEO, President, and Director of BioCorRx, Inc., stated, “We achieved a number of major milestones so far this year. Most recently, we are pleased to announce that we have converted the note with Alpine Creek Partners, which will eliminate $4.16 million of liabilities from our balance sheet. This will significantly enhance our capital structure and dramatically improve our balance sheet in order to prepare us for the planned up-listing to the Nasdaq Capital Markets. Alpine Creek has been a strategic partner since 2016 and they have helped us, not only financially, but with several key introductions to many of our current personnel on the business and scientific side of the company.”
“In the beginning of the year, we announced that we were awarded a 2-year grant from the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH) for the development of BICX102, which is substantially covering our path to FDA approval financially. We believe this grant further validates the clinical potential of BICX102 for the treatment of opioid and alcohol use disorders.”
“Our goal is to rapidly advance BICX102 through the regulatory pathway. Towards that end, we have partnered with IRISYS to manufacture and develop BICX102. IRISYS brings extensive and valuable experience beyond manufacturing that should also contribute to our success as we move forward through the clinical and regulatory process for BICX102. We also entered into a Master Services Agreement with Charles River Laboratories, Inc., who is currently conducting preclinical studies of BICX102 which started in the summer. If things go according to plan, our goal is to start conducting human studies next year.”
“Notably, we raised $6 million in a private placement at $15 per share, which was significantly above market. We are extremely pleased with the terms of this funding, and appreciate the support from the two investors, one of whom is Louis Lucido, a director on our board. We believe this funding further validates our business strategy, product pipeline, and the growth opportunities ahead.”
Lourdes Felix, CFO, COO and Director, stated, “We have made tremendous progress this year towards advancing BICX102 through the regulatory pathway. Recently, we have launched our UnCraveRx™ program which is a medically assisted weight loss management program that helps to reduce food cravings combined with on-demand virtual lifestyle support, fitness and nutrition. We estimate that the program will be a key growth revenue driver for BioCorRx and we are looking forward to expanding our provider network. Our business-to-business model, for physicians and medical professionals, will help to improve our providers’ client outcomes by helping them stay on track with their weight loss goals. We believe this program coupled with the private placement funding and the NIDA grant award of nearly $5.7 million for BICX102, will allow us to accelerate our product development and growth strategy, which has the potential to drive significant value for our shareholders.”
About BioCorRx
BioCorRx Inc. (OTCQB: BICX) is an addiction treatment solutions company offering a unique approach to the treatment of substance use and other related disorders. The BioCorRx® Recovery Program is a non-addictive, medication-assisted treatment (MAT) program for substance use; please visit www.beataddiction.com for more information on the BioCorRx Recovery Program. The UnCraveRx™ Weight Loss Program is also a medication assisted program; please visit www.uncraverx.com for more information on UnCraveRx™. The Company also conducts R&D under its controlled subsidiary, BioCorRx Pharmaceuticals. For more information on BICX and product pipeline, please visit www.BioCorRx.com.
Safe Harbor Statement
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.
BioCorRx Inc.
investors@BioCorRx.com
714-462-4880
Investor Relations:
Crescendo Communications, LLC
(212) 671-1020 x304
bicx@crescendo-ir.com
Yikes! $2.47 again, ties 52 week low!
someone knows something
and this something is not good
how long before the price drops to below $2.00?
below $1.00?
Sure is Shaggy...got any scooby snacks?
Agreed. They said the reason was to uplist this summer but that didn't happen...positive catalyst being news on the FDA process but radio silence on that as well. Poor investor relations/transparency thus far...
I really have no knowledge in BIO grants, but the grants we get in Law Enforcement are specific as to how we spend them. We have to use the money for what the grant was intended for. I would assume they are the same.
This RS decision has proven to be a complete disaster. Way to early for them to have done it. Too much down time in the FDA process to sustain the nervous investors this type of stock attracts. Unless there is info we are not privy to, the “little man” shareholders got screwed.
At this point, I don’t even know what a good entry would be. 00.02 was the 52 week low back when I was in, so technically that’s equivalent to $2. Don’t know if that matters or not. I’m too stupid to figure it out. I think that’s were a lot of other people stand, not worth risk with the little stock knowledge we may have. And the ones with stock knowledge, well, they probably know better at this point.
Hope they get through the FDA process though. Hypothetically speaking, let’s say they get through the process. I feel like they could have got through the process without the RS and not screwed over the little people. I mean what is one thing that was gained by the RS?
My concern is that they are living off the grant money and not accomplishing anything. When the grant is gone then they go downhill.
Looks like one guy dumped at/near the opening.
Whoaaaaa! $2.47 - New 52 week low!
someone must know something
and that something is not good
how long before the BICX stock price drops below $2.00?
below $1.00?
Good question. Need to ask.
Is that something that will be covered by insurance?
I have a keen interest in their weight loss program so I reached out to IR to see how many apps have been downloaded. They responded and said that info hasn't been released but would be "putting out an update shortly"
Just FYI
I hear you, reaching out to IR was the right thing. Hopefully we will hear some news soon. I guess no news is good news for now anyway.
Tel,
I wasn’t being critical. Someone questioned why we haven’t heard anything about the trials funded by the grant so I reached out to IR. Seemed like a better idea than just a bunch of people posting on a message board trying to surmise what was going on. This tends to lead to all kinds of confusion and misleading thoughts. Sounds like things are moving in the right direction. I do wish it was moving quicker, but it seems this is the course these things take. I’m no expert when it comes to the bio medical field. We are on the FDA quicker path so perhaps the time to get things started will be offset by that.
So what was your expectation? Do companies receive grants and go into human trials within the first 9 months? Which companies do you know of that have advanced that quickly?
Response from IR...
We appreciate your support as an investor. As stated in the 8K that the Company put out in June we have engaged Charles River to begin studies for BICX102. We will be providing an update shortly.
Best Regards,
Natalya Rudman
Senior Vice President
Director of Market Intelligence
Crescendo Communications, LLC
No news but a lot of promo on weight loss product on twitter. I still think this will be a great source of income soon.
Kiz, good points made and is why I am not currently in BICX. The focus of what they were trying to do kept shifting. I too made money on this play but I only keep an eye on it these days.
Ya, that’s a good point. Definitely a lot more high risk of a stock than I initially realized. Bio stocks need to be swing plays at the penny stock level. Don’t fall in love with them. I made about 200% on my BICX trade a while back, but would have made about 500% if I swing traded it correctly. Just a FYI.
What concerns me, is that they were awarded the grant to pay for the phase I and Phase II trials but I have yet to see any news about the trials being started.
Is Brady still involved with this co?
Great accomplishments! By all means don’t forget to mention, $6mil investment and $5.7mil NIDA grant this year.
Yes they filed on August 14th.
Maybe this will change for the better with their weight loss program.
Yes, it is a net loss. Nothing new here either.
I don’t believe this is anything that is new news for BICX.
BICX massive Negative Shareholders Equity of $3.1 million as of June 30, 2019
BICX files 10Q for the 2nd quarter ending June 30, 2019
https://www.sec.gov/Archives/edgar/data/1443863/000147793219004832/bicx_10q.htm
BICX - Massive Net Loss of $2.0 million for the 2nd quarter ending June 30, 2019
BICX files 10Q for the 2nd quarter ending June 30, 2019
https://www.sec.gov/Archives/edgar/data/1443863/000147793219004832/bicx_10q.htm
BICX - only $65,976 in revenues for the 2nd quarter ending June 30, 2019
BICX files 10Q for the 2nd quarter ending June 30, 2019
https://www.sec.gov/Archives/edgar/data/1443863/000147793219004832/bicx_10q.htm
BICX files 10Q for the 2nd quarter ending June 30, 2019
https://www.sec.gov/Archives/edgar/data/1443863/000147793219004832/bicx_10q.htm
Lol...once again not debating validity of your point. Simply posting new updates from company that other board readers may not have seen yet.
Lol, they been talking about up listing just about every interview for years.
Brady shot this horse in all 4 legs before it had a chance to run.
He destroyed a golden opportunity here for shareholders by doing the RS just before announcing the receiving of the 5 million dollar grant.
It basically has put this stock in to a coma.
April 2017 the stock was trading above 20 dollars (split adjusted), with no 5 million dollar grant in it's bank.
I also never said I believed it was getting uplisted soon or not...I simple posted a link of one of the BICX directors speaking on the issue.
Only one of those things you listed is measured for uplisting.
Why do you believe BICX will be able to meet the requirements needed to up list to NASDAQ.
Shareholders on record 134
Revenue 376,656 down 300,00 from previous year of 657,271.
FDA approval for the implant 3 to 5 years away.
FDA testing is expensive.
Current form of products not insurance reimbursable.
IMHO, BICX is years away from up listing.
540,000 shares of dilution or 21.5% since 12/31/2018. [3,045,716 (now) vs 2,506,229 (12/31/2018)]
http://venturelawcorp.com/listing-requirements-nasdaq/
Posted for news on uplisting...not podcast hosts thoughts.
BICX's problems continue - DISMISSES AUDITOR
https://www.sec.gov/Archives/edgar/data/1443863/000147793219003613/bicx_8k.htm
tem 4.01. Changes in Registrant’s Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm.
On June 14, 2019, the Board of Directors (the “Board”) of BioCorRx Inc. (the “Company”), dismissed Liggett & Webb, PA (“Liggett”) as the Company's independent registered public accounting firm, effective as of such date.
The audit reports of Liggett on the consolidated financial statements of the Company for each of the two most recent fiscal years ended December 31, 2018 and December 31, 2017 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. The audit reports for the years ended December 31, 2018 and December 31, 2017 contained an explanatory paragraph disclosing the uncertainty regarding the Company’s ability to continue as a going concern.
During the Company's two most recent fiscal years ended December 31, 2018 and December 31, 2017 and during the subsequent interim period from January 1, 2019 through June 14, 2019, (i) there were no disagreements with Liggett on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures that, if not resolved to Liggett’s satisfaction, would have caused Liggett to make reference to the subject matter of the disagreement in connection with its reports and (ii) there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.
The Company provided Liggett with a copy of the disclosures in this report prior to filing with the Securities and Exchange Commission (the “SEC”). A copy of Liggett’s letter dated June 19, 2019 to the SEC, stating whether it agrees with the statements made in this report, is filed as Exhibit 16.1 to this report.
(b) Engagement of New Independent Registered Public Accounting Firm.
On June 17, 2019, the Board engaged Friedman LLP (“Friedman”) as the Company's independent registered public accounting firm for the year ending December 31, 2019.
During the two most recent fiscal years ended December 31, 2018 and December 31, 2017 and during the subsequent interim period from January 1, 2019 through June 17, 2019, neither the Company nor anyone on its behalf consulted Friedman regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company that Friedman concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement” or a “reportable event”, each as defined in Regulation S-K Item 304(a)(1)(iv) and 304(a)(1)(v), respectively.
Item 9.01. Financial Statements and Exhibits.
16.1
Letter from Liggett & Webb, PA, dated June 19, 2019, to the Securities and Exchange Commission
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BIOCORRX INC.
Date: June 19, 2019
By:
/s/ Lourdes Felix
Lourdes Felix
Chief Financial Officer
BICX - $4.16 million Note convertible to 318.million.common.shares
the details:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148908451
Remember that False and misleading $15.00/share price on the subscription agreement for those 400,000 common shares?
Well, this just can't be a good thing:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148908462
I think the point he is trying to make is that "small cap" is covering BICX because they are getting paid (whatever the amount), not because they believe in the company or it's product.
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About BioCorRxProgram OverviewBioCorRx (OTCBB: BICX) is an alcohol treatment and rehabilitation company on the leading edge of alcohol addiction treatment. The company has developed a treatment program that is used by various licensed alcohol addiction clinics throughout the United States. The program consists of two components:BioCorRx has the worldwide rights (except in Australia and New Zealand) to a highly effective, proprietary implant formulation of the FDA-approved drug, naltrexone. After being surgically implanted by a medical professional, the naltrexone implant significantly reduces cravings for alcohol for as long as a year in some patients, depending on individual metabolism rates.BioCorRx also owns a life coaching program that is tailored specifically to alcoholics. Once a patient has received the implant, they are encouraged to enter the life coaching program to maximize results. BioCorRx’s revolutionary alcohol treatment program has an 85% success rate as reported by patients in routine telephone and face to face interviews. The implant is administered as an outpatient procedure, and in most cases, patients do not need to miss more than one day of work. They are then able to enter the private life coaching program without co-workers or family members knowing, unless they so choose. |
TechnologyNaltrexone is a medication that blocks the effects of drugs known as opioids and was approved by the FDA in 1995 for the treatment of alcohol dependence. Learn more about the side effects of naltrexone. Naltrexone blocks the parts of the brain that "feel pleasure” when patients use alcohol. When these areas of the brain are blocked, patients feel significantly less cravings for alcohol and even if alcohol is used, the effects of it will be extremely limited - making sobriety the only option. Once medical intervention has reduced the physical need for alcohol, the program goes on to address the patient's psychological needs. The combination of these treatments has resulted in the highest chance of sobriety. While other companies use naltrexone in their treatments, the drug is typically administered in oral or injection form, requiring their patients to be responsible for taking the medication or scheduling an appointment. While some patients do well with the oral formulation, there is a drawback that it must be taken daily and a patient whose craving becomes overwhelming can obtain the euphoria simply by skipping a dose before resuming abuse. Patients who received the program developed by BioCorRx are treated with a slow release dose that can last up to year in many patients (depending on various factors such as metabolism rates), which gives the patients a higher success rate for the treatment of alcoholism. The outpatient naltrexone implant procedure can take as little as 20 minutes under local anesthetic in some cases. Most patients can return to work or their daily routine in the same day, without the cravings for alcohol. |
Mission, Vision, ValuesMissionBioCorRx is focused on providing leadership and innovation for the treatment of alcoholism by offering a high-quality, comprehensive and cost-effective recovery program that allows patients and their loved ones to celebrate freedom from the cycle of alcohol addiction. Our program is built on a strong foundation of experience and practice, allowing for an improved quality of life for recovering alcoholics. VisionBioCorRx strives to be the preeminent, long-term alcohol recovery program used by treatment centers around the world for alcoholics, as well as their family and friends. By providing patients a "Fresh Start" on life, they have the opportunity to live happier, healthier, more productive lives away from the damaging impact of alcohol. We have built an organization that is committed to nurturing research for cutting-edge alcohol recovery technologies and integrating those technologies with comprehensive alcohol recovery treatment programs. ValuesBioCorRx provides the opportunity and tools to treatment centers so they can help patients live happier, healthier, and more productive lives to those suffering from alcohol addiction (as well as their family and friends) by helping them break the addiction cycle and live alcohol-free. We want patients to celebrate freedom from the past and hope for the future. Our team consists of physicians, coaches, founders and management that are committed to providing high-quality services and adherence to ethical care. Our goal is to give our treatment center partners the ability to deliver our program in a timely, warm and compassionate way to give patients, as well as their families and friends, peace of mind. To achieve this, BioCorRx has built its program around highly-qualified alcohol addiction specialists and effective treatment solutions. We are committed to quality and continuous improvement in order to meet our partners’ needs for an individualized program dedicated to alcohol addiction recovery. |
Investors OverviewBioCorRx is uniquely poised to gain significant market share of the $22 billion annual alcohol treatment market in the US. More than 7% of the US population ages 18 years and older or 13.8 million Americans have problems with drinking, including 8.1 million people who suffer from alcoholism. And the costs financially are staggering. Alcohol dependency and abuse costs the US over $220 billion a year. For the sake of comparison, this is greater than the amount of money spent to combat cancer ($196 billion) and obesity ($133 billion). BioCorRx intends to distribute the program to a new clinic in the United States every 60 to 90 days. Clinics using our program are also holding discussions with major health insurance providers to pay for all or a portion of the treatment fees. Business ModelBioCorRx’s research has discovered that demand for its services are high and that growth in highly marketed segments of the population may be achieved through partnering with additional clinic sites. The company is also exploring the sub-licensing of the program to select regions of the US and internationally. BioCorRx's goal is to meet its growth targets through licensing opportunities by promoting its naltrexone implant product and counseling service model to existing medical clinics and treatment centers that will purchase the program and/or product from the company. In addition, Fresh Start Private intends to open corporately owned clinics in select key markets where it is deemed appropriate. Stock Price & ChartsBioCorRx is a fully reporting company. Financial reports and other reports are available for view or by visiting the OTCBB.com online website. Audited financial reports are available quarterly. Company Structure Details
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BICX Chart
Key Executives
• Kent Emry - CEO, Director
• Brady Granier -COO, Director
• Lourdes Felix -CFO, Director
• Dr. Jorge Andrade, Jr. - Director
• Neil Muller -Co-Founder and President, Director
Locations
Locations of independently owned clinics using our Fresh Start Program
Start Fresh Recovery
720 N. Tustin Ave.
Suite 206
Santa Ana, CA 92705
714-541-6100
800-916-1099
www.startfreshrecovery.com
www.stopdrinkingUSA.com
Start Fresh Executive Recovery
367 E Virginia Ave
Phoenix, AZ 85004
855-393-HOPE (4673)
www.ExecutiveRecovery.net
Fresh Start Private Florida
1415 Panther Lane
Suites 313-320
Naples, FL 34109
800-985-7574
www.FreshStartPrivateFlorida.com
Start Fresh Alcohol Recovery Center
2827 S. 88th St
Omaha NE 68124
402-884-1221
www.startfreshNE.com
Coming Soon!
Insider Interview Links
December 2, 2013 - thewallstreetanalyzer.com Interview with Brady Granier COO
November 14, 2013 - SmallCapVoice Interview with Kent Emry CEO
October 2, 2013 - SmallCapVoice Interview with Brady Granier COO
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