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Hi Again Baggies..
Well, so far so good on my DOWN predictions. Now you have to watch $.02 for support, and a break below that confirms the next stock DIVE is imminent. I think that's the next move..
NEWS: IMNR The Immune Response Corporation Announces It Must Restate First-Quarter 2006 Financial Statements to Add $100 million of phantom income
Business Wire - August 15, 2006 7:00 AM (EDT)
CARLSBAD, Calif., Aug 15, 2006 (BUSINESS WIRE) -- The Immune Response Corporation (OTCBB:IMNR) announced today that it will restate its first quarter financial statements to add approximately $100 million of phantom income, which has nothing to do with the Company's operations. Also, there will be additional phantom income of similar magnitude in the second quarter of 2006. These items do not reflect any change in the Company's results of operations or cash position, but are required under a recent clarification of Generally Accepted Accounting Principles.
The restatement relates to a requirement to reflect in first-quarter income a fair market value adjustment for common shares underlying the warrants issued in the Company's 2006 private placement. The requirement arose because, when it issued those warrants, the Company did not have enough authorized common stock to honor exercises of the warrants. In determining the adjustment, the Company was required to estimate the fair market value of the Company's common stock on March 7, 2006, when most of the private placement securities were issued. On March 7, the closing market price of Company common stock was $0.24. The market, however, did not possess the information that the Company was issuing these many warrants (exercisable at $0.02 per share) and notes (convertible at $0.02 per share). When this information was publicly disclosed, the market price naturally fell; on March 8 and 9, the two days of trading after the public disclosure, the average closing price was $0.13.
The Company believed, and still believes, that if the market had known this information on March 7, the March 7 closing price would have been approximately $0.13, and that therefore the "true" fair market value on March 7 was $0.13 per share. The Company used the $0.13 figure in preparing its first-quarter financial statements and reported, under a GAAP rule known as EITF No. 2000-19, a phantom gain of $12,300,000.
Under the new clarification, using the $0.24 figure is mandatory. Accordingly, the Company will restate its first quarter financial statements to show a phantom EITF No. 2000-19 gain of approximately $115 million rather than of $12.3 million.
On April 11, 2006, the Company increased its authorized number of shares of common stock to 3,500,000,000 and is now able to cover all warrant exercises.
Under a different aspect of EITF No. 2000-19, the Company will be required to report an additional phantom gain of approximately $111 million in its second-quarter financial statements. Under the terms of a registration rights agreement the Company entered into as part of the 2006 private placement, if the Company defaulted under the agreement it might be required to pay damages in the form of stock - more stock, theoretically, than the Company's charter authorizes it to issue - if the investor chose to receive damages in the form of stock. This, together with the decline in the Company's stock value over the course of the second quarter, requires the additional phantom gain to be posted. Nonetheless, the Company is not in default under the registration rights agreement and does not anticipate any such default.
Immune Response CFO Michael Green said, "These are extreme examples of how GAAP sometimes fails to reflect companies' financial realities. We had wanted to apply EITF No. 2000-19 pragmatically to avoid showing such a strange amount of truly phantom income in the first quarter; that can only tend to confuse investors. However, the SEC has clarified that GAAP requires us to do exactly that, and so we will issue a restatement."
Mr. Green continued, "We emphasize to investors that there is no economic substance behind either the $115 million first-quarter phantom gain or the $111 million phantom gain which we will report for the 2006 second quarter. We are a development-stage immuno-pharmaceutical company and our operations have never been profitable. Rational investors should pay no heed to the phantom gains, and should evaluate our Company only on its true scientific and business merits."
The filing of the Company's second-quarter Form 10-Q will be delayed by a few days to enable it to be redrafted to reflect this matter and to enable the related amended first-quarter Form 10-Q to be prepared.
About The Immune Response Corporation
The Immune Response Corporation (OTCBB:IMNR) is an immuno-pharmaceutical company focused on developing products to treat autoimmune and infectious diseases. The Company's lead immune-based therapeutic product candidates are NeuroVax(TM) for the treatment of MS and IR103 for the treatment of HIV infection. Both of these therapies are in Phase II clinical development and are designed to stimulate pathogen-specific immune responses aimed at slowing or halting the rate of disease progression.
NeuroVax(TM), which is based on the Company's patented T-cell receptor (TCR) peptide technology, has shown potential clinical value in the treatment of relapsing forms of multiple sclerosis (MS). NeuroVax(TM) has been shown to stimulate strong, disease-specific cell-mediated immunity in nearly all patients treated and appears to work by enhancing levels of FOXP3+ Treg cells that are able to down regulate the activity of pathogenic T-cells that cause MS. Increasing scientific findings have associated diminished levels of FOXP3+ Treg cell responses with the pathogenesis and progression of MS and other autoimmune diseases such as rheumatoid arthritis (RA), psoriasis and Crohn's disease. In addition to MS, the Company has open Investigational New Drug Applications (IND) with the FDA for clinical evaluation of TCR peptide-based immune-based therapies for RA and psoriasis.
IR103 is based on the Company's patented, whole-inactivated virus technology, co-invented by Dr. Jonas Salk and indicated to be safe and immunogenic in extensive clinical studies of REMUNE(R), the Company's first generation HIV product candidate. IR103 is a more potent formulation that combines its whole-inactivated antigen with a synthetic Toll-like receptor (TLR-9) agonist to create enhanced HIV-specific immune responses. The Company is currently testing IR103 in two Phase II clinical studies as a first-line treatment for drug-naive HIV-infected individuals not yet eligible for antiretroviral therapy according to current medical guidelines.
NeuroVax(TM) and IR103 are in clinical development by The Immune Response Corporation and are not approved by any regulatory agencies in any country at this time. Please visit The Immune Response Corporation at www.imnr.com.
This news release contains forward-looking statements. Forward-looking statements are often signaled by forms of words such as should, could, will, might, plan, projection, forecast, expect, guidance, potential and developing. Actual results could vary materially from those expected due to a variety of risk factors, including whether the Company will continue as a going concern and successfully raise proceeds from financing activities sufficient to fund operations and additional clinical trials of NeuroVax(TM) or IR103, the uncertainty of successful completion of any such clinical trials, the fact that the Company has not succeeded in commercializing any drug, the risk that NeuroVax(TM) or IR103 might not prove to be effective as either a therapeutic or preventive vaccine, whether future trials will be conducted and whether the results of such trials will coincide with the results of NeuroVax(TM) or IR103 in preclinical trials and/or earlier clinical trials. A more extensive set of risks is set forth in The Immune Response Corporation's SEC filings including, but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2005, and its subsequent Quarterly Reports filed on Form 10-Q. The Company undertakes no obligation to update the results of these forward-looking statements to reflect events or circumstances after today or to reflect the occurrence of unanticipated events.
REMUNE(R) is a registered trademark of The Immune Response Corporation. NeuroVax(TM) is a trademark of The Immune Response Corporation.
SOURCE: The Immune Response Corporation
The Immune Response Corporation
Michael K. Green, 760-431-7080
info@imnr.com
Copyright Business Wire 2006
From yahoo Groups ---- THE WALL ALerts ----
IMNR.ob --STRONG BUY -----WIN 1000% ----- INSIDERS Buying !!!!!!!! --SHORTERS NEED TO COVER ------SHO LIST BUY INMMINENT-- Conversion OVER ---- Financing Complete -------- NEWS UPDATE READY !!!!
IMNR.ob --STRONG BUY --WIN 1000% ----- Robert LeBoyer, who has more than 14 years of Wall Street experience. Prize Target 0.09 cents . Big announce soon . Start Phase 3 !!!! The Immune Response Corporation (OTCBB: IMNR) - Wednesday's shares closed down 3.11% to $0.0218. 5,245,489 shares were traded. The Immune Response Corporation announced on July 24th that IncreMental Advantage, an equity research firm, initiated coverage on the Company with an Accumulate rating, and a price target of $0.09 per share. The Immune Response Corporation's product pipeline has two clinical stage therapeutics in Phase II development, NeuroVax(TM) for multiple sclerosis (MS), and IR103 for HIV/AIDS. The report was issued by IncreMental's highly experienced biotechnology analyst, Robert LeBoyer, who has more than 14 years of Wall Street experience. IncreMental Advantage noted in the report that, "The current market capitalization is only $13.1 million. It is unusual
to find such a company
with two novel products in Phase II clinical trials." The Immune Response Corporation is an immuno-pharmaceutical company focused on developing products to treat autoimmune and infectious diseases. The Company's lead immune-based therapeutic product candidates are NeuroVax for the treatment of MS and IR103 for the treatment of HIV infection. Both of these therapies are in Phase II clinical development and are designed to stimulate pathogen-specific immune responses aimed at slowing or halting the rate of disease progression.
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LLama Gratis a cualquier PC del Mundo.
Llamadas a fijos y móviles desde 1 céntimo por minuto.
http://es.voice.yahoo.com
[Non-text portions of this message have been removed]
---------------------------------
LLama Gratis a cualquier PC del Mundo.
Llamadas a fijos y móviles desde 1 céntimo por minuto.
http://es.voice.yahoo.com
---------------------------------
LLama Gratis a cualquier PC del Mundo.
Llamadas a fijos y móviles desde 1 céntimo por minuto.
http://es.voice.yahoo.com
---------------------------------
LLama Gratis a cualquier PC del Mundo.
Llamadas a fijos y móviles desde 1 céntimo por minuto.
http://es.voice.yahoo.com
[Non-text portions of this message have been removed]
---------------------------------
LLama Gratis a cualquier PC del Mundo.
Llamadas a fijos y móviles desde 1 céntimo por minuto.
http://es.voice.yahoo.com
[Non-text portions of this message have been removed]
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Insiders Buying , they know this isnt insanity !!!!!!
Accumulate time , people
U Baggies Will Get a Nice Ride.. Way DOWN!
Zero is a long way down from the current pps, what's $0.02 cents today turns into $0.002 cents, then $0.0002 which is 1/100th of $0.02, see what I mean? All it takes is massive dilution, and IMNR has plenty of that. Also, when the R/S comes you'll get 1sh for 1000, not the 1:100 split management mentioned before. So buying IMNR at these prices with this sort of dilution is pure insanity. If it was going up it would be a different story, but while its going down, you're getting massive dilution..
Good Luck anyway, I'm keeping an eye on it but don't expect anything until mid-2007 post 1:1000 R/S, then maybe I'll pick up some at $0.0002 -- Bwhajaaa!
It will move up soon, at least for short term.
IMNR not going anywhere yet...
not with a huge chunk of shares up for grabs at .02 in a couple months:
The second tranche of warrants (600,000,000) will become exercisable October 16, 2006, and will expire on November 30, 2006.
I'm still long on this one though, even with the 100:1 reverse split pending.
IMNR NEWS!!!!!!!
The Immune Response Corporation Receives $9.9 Million from Exercise of First Tranche of Warrants; Raising Aggregate $17.9 Million from 2006 Financing
Aug 10, 2006 07:00:31 (ET)
CARLSBAD, Calif., Aug 10, 2006 (BUSINESS WIRE) -- The Immune Response Corporation (IMNR, Trade ), an immuno-pharmaceutical company developing products to treat autoimmune and infectious diseases, announced it has raised $9.9 million in gross proceeds from investors exercising 495,552,100 warrants from the first tranche warrants that were issued in the Company's March 2006 private placement financing.
The total gross proceeds include an investment of $250,000 by Qubit, LLC, an affiliate of the Company's largest stockholder and director, Kevin Kimberlin, to exercise 12,500,000 warrants that were issued in conjunction with a February 2006 transaction related to the March 2006 financing.
In the March financing, the Company issued $8.0 million of secured notes convertible into 400,000,000 shares of common stock at $0.02 per share, accruing interest at 8% per year and maturing on January 1, 2008. Investors also received warrants to purchase an aggregate of 1,200,000,000 shares of common stock at $0.02 per share. The warrants were divided into two 600,000,000 warrant tranches, each generating a potential $12 million in gross proceeds.
The second tranche of warrants (600,000,000) will become exercisable October 16, 2006, and will expire on November 30, 2006. If fully exercised, the second tranche would generate an additional $12 million in gross proceeds for the Company.
Of the $8.0 million of secured notes, the holders have to date converted approximately $1.7 million into common stock.
The Registration Statement for the resale of common stock underlying the convertible notes and warrants issued in the Company's March 2006 private placement financing was declared effective June 13, 2006 by the Securities and Exchange Commission.
"We are gratified that investors participating in the private financing showed support for the Company by exercising their warrants," said Michael K. Green, Chief Operating Officer and Chief Financial Officer. "This funding will allow the Company to continue moving forward on schedule and initiate Phase II clinical trials for multiple sclerosis (MS) this fall. The funding also allows us to continue our enrollment and initiation of Phase II clinical trials of our investigational HIV products. We are very pleased with the progress of our Phase II trials, financing strategies and the positive developments at our vaccine manufacturing facility in King of Prussia, PA."
About The Immune Response Corporation
The Immune Response Corporation (IMNR, Trade ) is an immuno-pharmaceutical company focused on developing products to treat autoimmune and infectious diseases. The Company's lead immune-based therapeutic product candidates are NeuroVax(TM) for the treatment of MS and IR103 for the treatment of HIV infection. Both of these therapies are in Phase II clinical development and are designed to stimulate pathogen-specific immune responses aimed at slowing or halting the rate of disease progression.
NeuroVax(TM), which is based on the Company's patented T-cell receptor (TCR) peptide technology, has shown potential clinical value in the treatment of relapsing forms of multiple sclerosis (MS). NeuroVax(TM) has been shown to stimulate strong, disease-specific cell-mediated immunity in nearly all patients treated and appears to work by enhancing levels of FOXP3+ Treg cells that are able to down regulate the activity of pathogenic T-cells that cause MS. Increasing scientific findings have associated diminished levels of FOXP3+ Treg cell responses with the pathogenesis and progression of MS and other autoimmune diseases such as rheumatoid arthritis (RA), psoriasis and Crohn's disease. In addition to MS, the Company has open Investigational New Drug Applications (IND) with the FDA for clinical evaluation of TCR peptide-based immune-based therapies for RA and psoriasis.
IR103 is based on the Company's patented, whole-inactivated virus technology, co-invented by Dr. Jonas Salk and indicated to be safe and immunogenic in extensive clinical studies of REMUNE(R), the Company's first generation HIV product candidate. IR103 is a more potent formulation that combines its whole-inactivated antigen with a synthetic Toll-like receptor (TLR-9) agonist to create enhanced HIV-specific immune responses. The Company is currently testing IR103 in two Phase II clinical studies as a first-line treatment for drug-naive HIV-infected individuals not yet eligible for antiretroviral therapy according to current medical guidelines.
NeuroVax(TM) and IR103 are in clinical development by The Immune Response Corporation and are not approved by any regulatory agencies in any country at this time. Please visit The Immune Response Corporation at www.imnr.com .
This news release contains forward-looking statements. Forward-looking statements are often signaled by forms of words such as should, could, will, might, plan, projection, forecast, expect, guidance, potential and developing. Actual results could vary materially from those expected due to a variety of risk factors, including whether the Company will continue as a going concern and successfully raise proceeds from financing activities sufficient to fund operations and additional clinical trials of NeuroVax(TM) or IR103, the uncertainty of successful completion of any such clinical trials, the fact that the Company has not succeeded in commercializing any drug, the risk that NeuroVax(TM) or IR103 might not prove to be effective as either a therapeutic or preventive vaccine, whether future trials will be conducted and whether the results of such trials will coincide with the results of NeuroVax(TM) or IR103 in preclinical trials and/or earlier clinical trials. A more extensive set of risks is set forth in The Immune Response Corporation's SEC filings including, but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2005, and its subsequent Quarterly Reports filed on Form 10-Q. The Company undertakes no obligation to update the results of these forward-looking statements to reflect events or circumstances after today or to reflect the occurrence of unanticipated events.
REMUNE(R) is a registered trademark of The Immune Response Corporation. NeuroVax(TM) is a trademark of The Immune Response Corporation
IMNR insider buy
8/2/2006 12500000 A $0.02
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0000898432%252D06...
http://www.investorshub.com/boards/board.asp?board_id=6401
Etrade doesn't allow online sells on this stock.
Sometimes it takes some time for orders to go through on these pinksheet stocks, no big deal.
There was some hopeful looking trading in the last hour and then kinda crashed down fast, though very small loss percentage wise. Wonder if will stay in its channel after all rather than breaking out. Looked darn close back last week, volume excellent and all. Still very decent but lower volume.
Seems this stock has been stuck in some way. I put a sell at the bid to see what was going on with 3 bidders at that price and no takers. Kinda weird.
E*Trade wouldn't let me sell online an this momment.Anyone with a reasonable explanation? TIA
IMNR just put on Panetta's breakouttrading list.
IMNR didn't overcome $0.025, then there is resistance at $0.03, there will need to be mega-volume to make these hurdles, jmho..
i think .024 is bottom now.
up we go....
IMNR Doesn't Look Ready yet..
At least one more down roll (1-2 wks) needed here, stock is already overbought (Stoch and MacD), in spite of the secondary dump going on. I would wait for a re-test of the June-2006 price at $0.0189, or a slightly higher reading at $0.019 would work perfect..
Bet that the 'insiders' will want more of those cheap dumping shares - LMFAO!
Got my 100k today,Tell MM thanks for the fill!
Cheapest non expiring option on a phase 2 trial I believe I have ever seen.Yeah,I'm a little late to the party.GLTA,especially those in the world with MS and HIV.Help could be on the way!God bless.
Looks like the accumulation that has been going on during the selling pressure from the Warrants has caught up...we should start heading north faster now.
JMO
IMNR market maker MITR he's new as of May 2006 and usually on big board stocks what's he doing here?
I like it. I don't know what the source is, but the warrant expiration news is FANTASTIC.
This is looking good imo. Holding strong. These are cheap levels.
2nd most active
http://www.microcaptrade.com/pro/most/more_otcbb.jsp
OLMP off ASK on IMNR let's rock
Recommendation in Germany.
Our MM is just covering
RSI strong BUy ---- SHO list 30 days need to cover ---- New CEO ------ Volume picking up !!!!
should take this right back to $0.25 levels from here...10 bagger???
should take this right back to $0.25 levels from here...10 bagger???
If you havn't read this from stockguru it might be why IMNR volume and pps is doing so well :
The Immune Response Corporation
Sees Valuation Pressure Relieved with Warrant Expiration Imminent
The Immune Response Corporation
(OTCBB: IMNR)
View the StockGuru Profile for
The Immune Response Corporation:
http://www.stockguru.com/profiles/imnr/
IMNR - The Immune Response Corporation should experience a relief of recent valuation depression this week.
The overhang of 600MM warrants @ $0.02 per share is virtually gone. The warrants expire on 8/7/06, and with 3-day settlement warrant-holders are no longer able to sell and exercise their warrants. This should relieve enormous pressure from the stock. The financing has been absorbed. The next set of warrants do not become exercisable until October 16 through November 30.
Yes nice buy. IMNR insider buys your right only means they expect the stock to go up or they WANT it to go up lol. Either way I'm all in.
I'm lucky I bought when I did. It looks like its going to bust out. Insiders buyings a lot of shares is a plus. There is only one reason they do that.
IMNR a bit of volume we could bust out here
Well nevermind lol my trade just went thru.lol @.022
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