Bioject Medical Technologies Inc fka BJCT

[illegal_alias]

https://www.equities.com/news/inovio-pharmaceuticals-completes-acquisition-of-needle-free-injection-technology

[Renee]

BJCT revoked:

https://www.sec.gov/litigation/admin/2016/34-77515.pdf

[illegal_alias]

Hope so, but would rather have cash at this point since Inovio is also losing money.

[snoyzflake]

It means stock in Inovio, right?

[illegal_alias]

Hope it means some relief. We really got screwed by BJCT management on this one.

[mrnutsandbolts]

Divide each amount by the 18 million shares outstanding and the conversion amount of the preferred stock and that is what each share is going to receive.

[junkHustler]

What does this mean for shareholders of BJCT?

[StockRoomBully]

"Inovio buys Bioject for $5.5M"

http://seekingalpha.com/news/3167119-inovio-buys-bioject-5_5m?uprof=44#email_link


Inovio Pharmaceuticals (INO -6%) acquires all the assets of Bioject Medical Technologies (OTC:BJCT), including its needle-free injection technology, for $5.5M in cash and stock. The transaction complements Inovio's needle-free skin surface electroporation technology under development for the potential administration its DNA vaccines.Under the terms of the deal, Bioject will receive $4.5M in Inovio stock and $1.0M in cash."

[snoyzflake]

I just called the corporate office of BJCT -- Investor Relations, Customer Service and A/P.-- all went to voice mail.

I also called the California Business office number; there was not even voice mail.

Hope to the company puts out a statement.

[illegal_alias]

Looks like shareholders are toast - https://www.sec.gov/alj/aljdec/2016/id952cff.pdf

I wonder if one of those law firms that are always announcing an "investigation" into certain securities will look at this one.

[illegal_alias]

But with no market or market makers making quotes, they will be worthless

[StockMedic1]

The ownership in the company does not change. Having the registration of shares revoked is the least costly way to go private. They may have done this for several reasons. To save the costs of being public, to make an acquisition easier without all the regulatory hurdles, or simply to shut its doors. Who knows. But your shares are your shares, and you still own them

[snoyzflake]

Thanks. So a shareholder has no standing if the company goes privately? Who owns the company then?

[illegal_alias]

If the stock gets deregistered and there are no market makers then I think it is dead and share owners are bagholders. Looks like we are next to dead anyway - http://www.otcmarkets.com/stock/BJCT/quote

[snoyzflake]

How does that work?

[illegal_alias]

Sorry for double post

[illegal_alias]

Looks like BJCT may sell out its shareholders
https://www.sec.gov/alj/aljorders/2016/ap-3520.pdf


UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ADMINISTRATIVE PROCEEDINGS RULINGS
Release No. 3520/January 19, 2016
ADMINISTRATIVE PROCEEDING
File No. 3-17015
In the Matter of :
:
BIOJECT MEDICAL TECHNOLOGIES, INC., : ORDER TO SHOW CAUSE
BLACK CASTLE DEVELOPMENTS HOLDINGS, INC. :
(n/k/a ingXABO CORPORATION), :
CATALYST RESOURCE GROUP, INC., :
SSI INTERNATIONAL, LTD., :
STRIKE AXE, INC., and :
VIPER POWERSPORTS, INC. :
The Securities and Exchange Commission instituted this proceeding with an Order
Instituting Proceedings (OIP), pursuant to Section 12(j) of the Securities Exchange Act of 1934, on
December 22, 2015. The OIP alleges that each Respondent is a corporation with a class of securities
registered with the Commission pursuant to Section 12(g) of the Exchange Act and has repeatedly
failed to file required periodic reports. The Division of Enforcement is seeking to revoke the
registrations of Respondents’ securities.
The OIP provides that each Respondent’s Answer is due within ten days of service of the
OIP on it. See OIP at 3; 17 C.F.R. § 201.220(b). Each Respondent was served with the OIP by
December 29, 2015, by USPS Express Mail delivery or attempted delivery at “the most recent
address shown on [its] most recent filing with the Commission.” 17 C.F.R. § 201.141(a)(2)(ii). To
date, each Respondent has failed to file an Answer within the time provided.
Accordingly, each Respondent IS ORDERED TO SHOW CAUSE, by February 2, 2016,
why it should not be deemed to be in default and the registration of its securities revoked. See OIP
at 3-4; 17 C.F.R. §§ 201.155(a), .220(f).
/S/ Carol Fox Foelak
Carol Fox Foelak
Administrative Law Judge

[mrnutsandbolts]

Thank you...I'll watch it.

[StockMedic1]

My plan B - RXSF

[mrnutsandbolts]

Thank you for the info. My dad has been an investor here for well over 15 years. I'll let him know what is going on.

As for SMME...I fair as well as the others. Still hoping but coming up with a Plan B for retirement.

Hope the new year goes well for you...and me. :)

[StockMedic1]

Its not inside information but I may be able to color it for you. A few years back, the FDA started requiring makers of needleless injectors to be bundled with a specific formulary in order to get approval by the FDA to commercialize this type of product for healthcare. Some companies, like PharmaJet, started bundling its needleless injector with influenza and insulin type medications (both are non-prescription BTW), and most of those devices are now one-off's, or single-use disposables. The BJCT unit was developed for multiple use, considering its materials and functionality.

I personal like re-usable jet injectors with certain medications, more on the opioid - pain side. BJCT was unable to secure a US pharma to partner with and sought foreign distribution, which, under the circumstances, was the only direction it could go in.

The company stopped filing its required disclosures with the SEC and after a time period, the SEC brings actions to de-register (revoke) the companies registration, or its ability to have its shares listed for trading, effectively making it a private company. Its a severe blow to its shareholders, but this is usually done for one of 2 reasons. The company has run out of resources to continue as a public company, or it wants to go private to try to attract a buyer, so not sure what the behind the scenes intentions are, but as you know, I am invested in 2 other companies that focus on biometric technology, one of which has spoken with the lead investor of this company, but I don't know what has transpired, if anything.

How are you making out over at SMME?

[mrnutsandbolts]

Professor...nice to see you get around.

So what happened here? Any inside information you can share?

[illegal_alias]

The FDA definitely screwed them. I wonder how much money exchanged hands for the regular needle industry to buy off FDA officials.

But, it is the SEC that is really screwing them (and all the shareholders) right now.

[junkHustler]

Filings arent cheap and auditors are even more expensive. For a company that was running on really tight operational capital it didnt make sense. I know they wanted to but just couldnt afford it.

The FDA really screwed over these guys.

Hopefully they can partner with someone or go private.

GLTA & JMO

[illegal_alias]

This note at the bottom of the order leads me to believe that Bioject did respond:

Each Respondent other than Catalyst Resource Group, Inc., was served with the OIP by December 29, 2015, by USPS Express Mail delivery or attempted delivery at “the most recent address shown
on [its] most recent filing with the Commission.”

The latest 8-K uses the same address of the Tigard, OR hq, so I assume that the SEC at least now has a current address.

To allow time for Answers, the hearing will be postponed sine die, and a prehearing conference will be held by telephone on February 26, 2016, at 11:00 a.m. EST, if the proceeding has not been resolved by then.

So, I guess we are in trading suspension limbo until next month.

According to the bio on the BJCT website http://www.bioject.com/about/bios#chow , CEO Chow supposedly has some expertise in SEC filing. So, why did he let this happen?

[roiresearch]

that's not good news. seeing how this company has yet to do anything about their filings, looks like they don't care if they get revoked

[illegal_alias]

Latest administrative order - https://www.sec.gov/alj/aljorders/2016/ap-3487.pdf BJCT .0001 x .0001

[illegal_alias]

Hearing on Tuesday: http://www.sec.gov/alj/aljorders/2015/ap-3432.pdf

[illegal_alias]

Some companies stop filing because it costs $$ to engage a PCAOB registered accountant.

[StockMedic1]

It will have to make up 4 years of audited financials. Better off being an acquisition target or its just going private. Eventually, the SEC will revoke the 12G registration, and that will make the company private.

[roiresearch]

I have no idea why this company stopped filing per otc guidelines.

Hopefully they respond cause the grey market blows

[illegal_alias]

Might be my first tax loss for the forthcoming 2016! They have 10 days to respond to the Administrative order. Also, LIFE SCIENCES OPPORTUNITIES FUND II LP owns nearly 12 million shares and as their largest shareholder I would hope that they have already been on the phone with the CFO asking "WTF is going on with your financials!?"

[roiresearch]

Probably open on the grey market in 2 weeks

[snoyzflake]

Anyone know when this stock will trade again?

[Renee]

BJCT SEC Suspension for Financials / Filings delinquencies:

http://www.sec.gov/litigation/suspensions/2015/34-76727.pdf

Order:

http://www.sec.gov/litigation/suspensions/2015/34-76727-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2015/34-76728.pdf

[roiresearch]

Nice 500k bid at .06

[illegal_alias]

I have searched and dug all sorts of sources and turned up nothing. For someone to have bid that up in 6 minutes at such a high percentage tells me that someone has non-public info. If they are willing to pay .08 a share, they think/know it is worth more. This will be interesting.

[roiresearch]

That was exciting. There must have been a news blip somewhere that had someone (or a few people) cause the volume to spike (accumulation). The volume spikes over the last few months have usually been distribution. Will Santa Clause show up.... ho, ho, ho

[illegal_alias]

Hi ROI - yep, looking good today.

[roiresearch]

Nice day so far

[junkHustler]

BIOJECT RECIEVES REGISTRATION APPROVAL IN ECUADOR

Tigard, OR –October 21, 2015 – Bioject Medical Technologies Inc. (OTC Pink: BJCT), a leading developer and manufacturer of needle-free injection technology, today announced that it has received registration approval for its needle-free injection products from the Ministry of Health in Ecuador. Bioject’s distributor in Ecuador, FlashMed Inc. acted as the agent for the application based on documentation provided by Bioject.

"This is the first step to providing Bioject’s needle-free technology to clinicians and patients in Ecuador and we very much appreciate the work of FlashMed in achieving this approval.” said Tony K. Chow President and CEO of Bioject. “We’re looking forward to supporting FlashMed in their efforts and the prospects for new sales in the region.”

Beginning in 2013 Bioject has expanded its distribution network into Asia, Australia, the Philippines, the Middle East, and Africa. So far, registration approvals have been received in nine countries.

[illegal_alias]

I just try to do thorough DD and generally refrain from speaking with company officers in case I hear something that's non-public. But, I do know someone that has a connection to one of the institutional investors (if they haven't bailed) and will pass it along.

[illegal_alias]

looks like time to get a new mouse.