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It was definitely Asher beginning to sell shares today.
20120815|BOCX|343800|0|343800|O
He has two months to sell this note before the next one is due to be converted. At this share price, Asher needs to sell about 600,000 per day. IMO, the share price is going to go substantially lower before he is done selling. Moro needs to pump the stock but there is nothing left to pump.
IMO, there is certainly nothing left to pump for BioCurex.
Sales have dropped 40% from the first quarter.
Moro has gotten another death spiral loan.
Only 3 employees are left at Pacific BioSciences.
The debt to Smithline is increasing.
No progress was made on a cat test.
Moro is stealing the SR&ED money that should go back to BioCurex. In the past 6 years, it would have been up to $1.5 million dollars he has pocketed.
The Smithline loan is due in December and he intends to take assets.
There has been no comments on the "death spiral" Asher note that is able to be converted into shares as of today. It converts at 58% of the current share price.
The note is for $42,500 so at this share price, it would convert into 42 million shares. There is another Asher death spiral loan due to convert beginning Oct 15.
Shareholder update.
http://www.globenewswire.com/newsroom/news.html?d=252605
So Half, let's say that Pacific, as any other R@D commpany in Canada, is receiving the refund: is it theft or not?
If it is theft, what would you do with Moro?
Rocketman stated:
"Dr Moro I am looking forward to the 15th so we can find out how many test kits have been sold by Butler, AHI and VetRed!!!!
Revenue positive in 1 year......coming soon."
Rocketman, you apparently were dreaming when you anticipated an increase in sales of Dog RECAF. IMO, next quarter will even have less sales.
I think you should focus on Moro stealing SR&ED money that should have gone back to BioCurex.
Revenue sucks and Moro even took a third death spiral loan from Asher. I wonder how happy Paulson was about that deal.
The $150,000 note from Paulson paid off the first $78,000 note plus $42,000 in interest. The other notes were NOT paid off.
June 20, 2012, there were 283,363,484 outstanding.
281,965,151 shares outstanding as of August 14, 2012 so another 500,000 shares have been issued.
Revenue 8,826 2nd quarter.
Revenue 14,049 1st quarter
That is a decrease of about 40 percent. Those sales are certainly BOOMING aren't they?
Loans from Asher: He took another loan...That's three death spiral loans.
The Company issued three convertible notes with principal amounts of $78,500, $42,500, and $32,500 respectively, to a private investor. The note with a principal amount of $78,500 was fully repaid on June 13, 2012 with interest paid in the amount of $42,227. The note with a principal amount of $42,500 is convertible commencing on August 21, 2012 and is due on February 23, 2013. The note with a principal amount of $32,500 is convertible commencing on October 20, 2012 and is due on April 26, 2013. Both notes bear interest at 8% per year and are unsecured. The number of shares to be issued upon any conversion will be determined by dividing the principal amount to be converted by the conversion price. The conversion price is 58% of the average of the lowest five Trading Prices for the Company’s common stock during the ten trading day period ending on the trading day prior to the date the note is converted. “Trading Price” means the closing bid price of the Company’s common stock on the Over-the-Counter Bulletin Board. As at June 30, 2012, the embedded conversion features have not been bifurcated and separately accounted for as they do not provide for net settlement until the notes become convertible on August 21, 2012 and October 20, 2012, respectively.
Moro did get the $150,000 from Paulson but only paid off the first of the notes. The other two are still due.
COMMON STOCK
a) In February 2012, the Company issued 675,000 shares of common stock pursuant to stock options exercised at $0.001 per share.
b) In February 2012, the Company issued 1,500,000 shares of common stock to a vendor with an estimated fair value of $22,500 for consulting services.
c) In February 2012, the Company issued 1,141,700 shares of common stock to three employees of a related party with an estimated fair value of $22,834 for services provided by the related party.
d) In March 2012, the Company issued 1,500,000 shares of common stock to a vendor with an estimated fair value of $30,000 for consulting services.
e) In March 2012, the Company issued 770,850 shares of common stock to three employees of a related party with an estimated fair value of $15,417 for services provided by the related party.
f) In April 2012, the Company issued 3,000,000 shares of common stock to vendors with an estimated fair value of $39,000 for legal and consulting services.
g) In April 2012, the Company issued 800,000 shares of common stock to vendors with an estimated fair value of $16,000 for legal and consulting services.
h) In April 2012, the Company issued 1,600,922 shares of common stock to three employees of a related party with an estimated fair value of $20,812 for services provided by the related party.
i) In April 2012, the Company issued 384,615 shares of common stock to a vendor with an estimated fair value of $5,000 for future financing services. These costs were capitalized and will be amortized over the life of the future financing.
j) In May 2012, the Company issued 1,000,000 shares of common stock to a service provider with an estimated fair value of $9,800 for shareholder meeting services.
k) In June 2012, the Company issued 80,000,000 shares of common stock to a related party for the loan settlement with an estimated fair value of $480,000.
l) In June 2012, the Company issued 6,556,800 shares of common stock to three employees of a related party with an estimated fair value of $32,834 for services provided by the related party.
m) In June 2012, the Company issued 4,000,000 shares of common stock to vendor with an estimated fair value of $20,000 for legal and consulting services.
Quarter two 10Q is due by close today.
Nice try to pump the shares Moro. Too bad is not working.
You want the shares to go up, get rid of Moro (yourself), bring a competent CEO, and get a competent scientist to scrutinize Pacific Bioscience and Moro "stories" about RECAF.
Half, you should be well aware that I cannot post an answer to a phone call on this message board. There is no "link" to that so just make the call yourself and get your answer.
So gold, You are Assuming that Pacific Biosciences is or has been receiving this credit but have zero proof...That is pretty thin information to be calling someone a thief and a liar...
Gold, Do you have proof of this accusation? I would like to see it posted here.
Gold stated," He steals up to $1.5 million from BioCurex"
A man of character? You have to be kidding. He steals up to $1.5 million from BioCurex and he is a "man of character"?
Dr Moro Were are expecting to see millions of dollars in Oncopet sales this Wednesday! You promised us Biocurex would be revenue positive within the year and we know that a man of your character would never break his word.
Rocketman I understand the test sells for $65 per test. I have not followed very closely as of late but it would be nice to see some good sales numbers.
badinvmnt, you cannot blame Abbott for the failues of BioCurex.
If you look back at the point Abbott signed an agreement to validate RECAF, Moro was advertising to them that it had 100% specificity and 100% sensitivity. Moro either lucked out in that 2004 study he presented to Abbott or he faked the data because the next data done by Abbott and published in 2006 showed the true aspects of the lack of performance of RECAF.
The word I got from via someone with connections with Abbott was that Abbott felt Moro lied to them.
Moro also got the license with Alere by telling them that Abbott was going to take RECAF into clinical trials which of course we now know was completely FALSE.
RECAF will never be a successful diagnostic because it creates more questions than it gives answers. That's why you do not have the medical community behind RECAF. It's just Moro on his soapbox selling stock to naive investors.
Hello. New to IHUB, but have been following this board off and on for a few years.
I agree with you all that the latest board approval to reverse split the stock points to eventual death.
With all the recent national political news accusing Romney of being responsible for that woman dieing of cancer, someone just needs to redirect that arguement to point out that companies like Abbott are responsible for cancer deaths because it's more profitable to treat stage 3 & 4 cancer than to allow small companies like Biocurex to bring new technology into the market. The free market system may work for other sectors, but I don't think it works for the Healthcare industry because profit will always trump morality.
Half,
Everything that you posted may be true, but biocurex is well beyond being saved by RECAF. Moro has used this stock as a cash cow, and now regardless of any RECAF successes, this stock is doomed. The death spiral loans will assure that. Moro will walkaway unscathed, and the investors will be left with nothing but their losses. If there is a cure to be found for cancer, it will have to be found some where else.
The second death spiral loan from Asher is able to be converted and sold next week.
New all time low this morning of $.0021
There are a lot of studies concerning cancer and A LOT of money being poured into research.
Where is BOCX's cut?
After ALL this time.....not a penny from a research grant, or the American Cancer society and any foundation!
If there was traction here wouldn't we have gotten it by now?!?
Why would Dr. Gold leave the board if there was anything credible with what is going on here??
Here is an interesting provision of the revised Smithline agreement.
"further provided that any agreement between the Company and PBRC with respect to such services entered into subsequent to the Amended Issue Date shall be approved by a majority of the independent members of the Company’s Board of Directors, in each case at a cost to the Company not to exceed 115% of the fully absorbed cost thereof to PBRC "
TThe Smithline agreement clearly limits the amount of of money paid to Pacific BioSciences to 115% of the "fully absorbed cost".
That would mean Pacific would have to give back any thing received above the 115%.
Half full, what are your comments on Moro ripping off shareholders and not returning the SR&ED rebate money back to BioCurex? Do you sill feel he is an honest and moral person?
Lets have some comments Half. Silence is not golden in this case.
So let me get this straight: All of the following are from our smartest people in the entire world.
There are approximately 7,500,000 worldwide cancer deaths per year.
Early Detection is Good as long as you don't do anything to diagnose or eradicate the cancer because those may cause harm?
Chemo causes Cancer....
http://www.newsmaxhealth.com/health_stories/Chemotherapy_Cancer_Study/2012/08/06/466914.html?s=al&promo_code=FAB4-1
Mammograms are Bad....
http://mobile.bloomberg.com/news/2012-08-02/komen-cancer-group-criticized-for-ads-backing-mammograms.html
PSA tests are Bad....
http://www.cbsnews.com/8301-504763_162-57438590-10391704/u.s-panel-recommends-against-psa-tests-for-screening-prostate-cancer-in-men-of-all-ages/
Watchful waiting is Good....
7,500,000 worldwide will continue to die each year of cancer.
Early Detection is Good
diagnoses and eradication is Bad
Chemo causes Cancer....So we give it to existing cancer patients.
Mammograms are Bad....
PSA tests are Bad....
Watchful waiting is Good....As it allows the cancer to progress
7,500,000 worldwide will continue to die each year of cancer.
I get it now. These guys are so so intelligent.
The bottom line is: Quit all Cancer care and save your money to bury the 7,500,000 people each year Cause that is apparently as good as it gets.
Oh but it gets better. Lemon juice, asparagus and Vitimin C cure cancer except for the fact that they are all packaged in cancer causing wrappers.
Moro was afraid to hold a conference call. There are too many cans of worms (multiple) that could be opened. Him stealing the SR&ED money that belongs to Biocurex is one of the issues he did not want disclosed or to be asked about.
As for Paulson giving money to pay Asher, I doubt that has happened. There have been many "unresolved" trades in this stock that appear on the FINRA daily short list. Absolutely no one shorts a stock at this level so those unresolved sales are from a lender selling shares short and converting notes to cover the trades. That has to be Asher.
How do I know it is Asher? Paulson could not pay Asher without giving Smithline his percentage of any new loan. So, I don't think Paulson forked over the money to pay both Asher and Smithline. You would also know for sure that Paulson would not have liked the fact that all of the independent directors have resigned.
I also emaied Dr. Gold. He responded by just saying, " I no longer have anything to do with that company." Does that sound like someone who left on good terms?
I_Invest, on that one, I do agree. The Bocx, punch out and others. The goal is to divert attention away from the pressing issue of Moro stealing money from BioCurex and BioCurex having no money left. Any sales by distributors matter little at this point unless they are selling like hot cakes and that is not the case. Just google "oncopet" and you can see that absolutely NO ONE is taling about it.
Things investors need to know:
How much additional money has Moro stolen from BioCurex via the SR&ED program?
Did Paulson really loan Moro money to cover the death spiral Asher notes?
What will Smithlines do with his notes that are due in December? IMO, he will take any remaining assets if not paid. He will also sue Moro to get access to the funds he took in excess from BioCurex.
Thank you for the post Dr. Moro!!
Dr Moro I am looking forward to the 15th so we can find out how many test kits have been sold by Butler, AHI and VetRed!!!!
Revenue positive in 1 year......coming soon.
With Moro's agreement between BioCurex and Pacific BioSciences, the contract states that Pacific is reimbursed cost plus a max of 15%.
That is certainly NOT what is happening. The 41.5% rebate of R&D expense by the Canadian Revenue Authority gives Moro a windfall profit to Pacific which is certainly WAY out of line with what was advertised to BioCurex shareholders.
I do think Moro could be sued and the money returned to BioCurex.
It seems as though there has been enough comingling of finances with Pacific bio. that it would be worthwhile
for Paulson, Asher, or Smithline to consider initiating a class action suit against Moro for fraud.
I Invest, you can be assured that nothing was discussed at the shareholder meeting and if any real shareholders were there, I would be shocked. This stock is not worth the gas to even drive across town.
In the early years, I gave Moro the benefit of the doubt about the process of forming this company. Several years ago, I realized how wrong I was. This company was a scam to start and is still a scam today.
With the reverse split, Moro wants to be able to do it all over again. It just wont work this time. Moro has been stealing money that rightfully belongs to BioCurex. The truly independent directors have all resigned. They know the real story.
gold...you think there is more of a discussion on this board or at the shareholders meeting?
The shareholder meeting comes and goes without any mention from Moro. Typical.
Well, the shareholder meeting was today. My guess would be that no other shareholders were present but Moro and his recent gift to himself of 80 million shares.
I also doubt that Burger was even present nor in phone contact.
Moro: Will the meeting come to order. (silence)
Moro: We have two items on the agenda:
Moro: First is the reverse split up to 1 for 150.
Moro: Is there any discussion. (Silence)
Moro: All in Favor say Aye.
Moro: "AYE"
Moro: Proposal passes.
Moro: The second item is the creation of 10 million preferred shares.
Moro: is there any discussion. (silence)
Moro: All if favor say AYE.
Moro: "AYE"
Moro: Proposal passes.
Moro: That concludes the business meeting.
Moro: Is there a motion to adjourn?
Moro: "I move to adjourn the meeting"
Moro: "is there a second"
Moro: "I second the motion to adjourn"
Moro: "the meeting is adjourned."
<Moro still at his desk, leans back in his chair laughing to himself,"I fooled those dumb shareholders again."
20120731|BOCX|105000|0|250000|O
105,000 shares shorted today.
Between 1230 and 1250, a lender began hitting the bid with unresolved trades. IMO, this is Asher and Paulson DID NOT pay off the Asher loans.
Previously, the selling was limited but this time, it went to a near all time low.
$0.0028
5,000
OTO
12:49:58
$0.0028
5,000
OTO
12:46:07
$0.0028
20,000
OTO
12:45:50
$0.0028
50,000
OTO
12:39:13
$0.0028
25,000
OTO
12:36:26
Half full, do you have any comments on Moro taking all that SR&ED money for years? Do you still think he is a man of high ethics?
I previously calculated the SR&ED amount of more than $750,000 in the past three years that Moro has kept for himself. For the three years prior to that, 2006-2008, Moro would have pocketed another $794,000 of SR&ED money.
You can certainly see why Moro is attempting to keep the golden goose laying eggs.
More short sales today.
20120726|BOCX|680800|0|744195|O
680,800 short.
A substantial number of shares were sold short again today.
20120725|BOCX|804000|0|814000|O
804,000 shares out of 814,000 total traded.
I_Invest, I don't think the SEC will get involved. This is just between shareholders and Moro...a matter of who the money belongs to. Moro thinks he can rightly claim the money and nothing would happen as long as it remained non public information.
What comes into play is the contracts signed by Moro for both Pacific BioSciences and BioCurex. That is why I have always stated that Moro having his own company is a HUGE conflict of interest and ripe for corruption...which is now evident.
When USA companies move their R&D north to Canada, the "Shred" program is well known and it enables to company contracting for the R&D to bid MUCH lower for the work knowing they can get re-imbursed for part of the work from Revenue Canada. Moro has decided to not tell anyone about it and just claim all the money for himself.
Legally, this would need to be settled in a court of law. BioCurex is only obligated to pay for R&D expense plus a premium of 15% profit. The contract with Pacific BioSciences states that if Moro is paid by Pacific BioSciences, then that amount is substracted from his salary from BioCurex. The money from Revenue Canada goes to Pacific BioSciences and not Moro. Even though the money is in Pacific BioSciences, it is not Moro's until Pacific gives it to him. Just like the 80 million shares he gave himself, they are technically owned by Pacific BioSciences.
Ethically, Moro is an absoulute CROOK for keeping the money. IMO, shareholders or even Smithline could sue him and get the money back. Keep in mind that the Smithline note is due in 5 months and he WILL take assets in court if not paid.
The other big question is what will Moro do for financing. Paulson obviously knows about the "shred" money by now because these boards are public. Will they continue to support Moro?
Moro obviously is going to get all the measures approved with his 80 million newly issued shares. FINRA still has to approve the reverse split and Moro has to find financing. What can he hype at this point.
He has never disclosed what the FDA said at the pre IDE meeting but any fool would know that FDA approved clinical trials would be required along with an extensive PMA. Moro is just full of BS and wrongfully taking money he should not. That is the sum total of it
I wonder what the SEC is going to feel about this?
I called Butler-Schein to see if they were still selling the RECAF collection kit. The sales person had no idea what I was talking about. He did not find it under RECAF but I finally spelled the manufacturer out, oncopet, and he finally found it.
Leon, In the past three years, the annual reports show the following amounts for R&D expense paid by BioCurex.
2009 $505,000
2010 $534,000
2011 $746,000
The total for the three years is $1,785,000.
The SR&ED tax incentive rebate from the Canadian Revenue Authority and the British Columbia tax will rebate a total of 41.5% of the R&D expenses or in this case, Moro was able to pocket $740,000 over the three year period.
That is theft from shareholders of BioCurex.
I'm not sure that I follow here: Pacific Bioscience pays taxes and then the canadian agency refunds the tax money back? $250,000/year sounds a bit too much of a refund. How did you arrive to that amount? For how many years this has been happening?
The $550,000 loan from Smithline has provisions prohibiting convertible loans where the conversion is based on a future share price. In addition, another provision in the contract states that if one of the prohibited convertible loans is made, then the Smithline loan also is reduced to the same convertible terms.
Since the Asher loans were based on a conversion of 58% of the latest 5 day average, those are the same terms Smithline now has. Those are DEATH SPIRAL terms and look at what has happened to the share price since the Asher loans were made.
Moro is stealing Canadian Revenue Agency R&D refund money that rightly should be returned to BioCurex. Moro's personal company, Pacific BioSciences is supposedly only to operate at a 15% profit according to agreements with BioCurex. Moro is not only taking the 15%, he is pocketing ALL of the tax refund money which adds up to another $250,000 plus.
First of all, it is an EXTREME conflict of interest for the CEO to own an independent company that does all the contracting for BioCurex and is guaranteed a profit. That is TOTALLY unethical. On top of that, he even steals more money that should go back to BioCurex.
Only place I want to meet the doctor is in a court of law as he is being held on charges so richly deserved.
if I were to meet Dr. Moro I would punch him in the face.
I have never done this to anyone before, but this guy deserves it.
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