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IQMC SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-70375.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-70375-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-70374.pdf
IQMC - Looking good here - $0.0012 x $0.0016
Is this company still around? Can't find anything about it online. Stock's been dead for awhile.
IQMC DD Report
Stock Structure:
Authorized Common Stock: 300,000,000
O/S: 50,199,500 (12/31/05)
Authorized Preferred Stock: 25,000,000
O/PS: (12/31/05)
Company Background:
Originally formed as Enclave Product, Ltd., a shareholder group in Florida acquired controlling interests on October 18, 2004, effected a 1-for-200 reverse stock split, changed the name to IQ Medical Corp., and approximately a year later, changed the name to IQ Micro Inc. Through June 9, the company had no real operations.
On June 9, 2005, Osmotex AS and its Florida-based subsidiary, Osmotex USA, Inc., entered into an agreement licensing to Osmotex USA exclusive, worldwide sales and marketing licensing rights, in addition to intellectual property rights of Osmotex. On that same day, IQMC entered into agreement with Osmotex USA, exchanging 42,670,000 shares, or ~85% of the company for licensing rights. As a result, Osmotex USA became the majority owner of 85% of IQMC stock. On January 12, 2006, final agreement was whereby Osmotex licensed full rights to Osmotex USA, and Osmotex USA licensed these rights to IQ Micro, Inc. As a result, the success of IQMC is highly linked with the success of Osmotex.
IQMC also arranged for $500,000 in external debt financing to be arranged by D.P. Martin and Associates, Inc., as well as assistance in the Osmotex-IQMC contract, in exchange for 1,000,000 shares to be placed in an escrow payment until the completion of said arrangement. However, because D.P. Martin never secured $500,000 in external financing, the escrow account was deleted and the shares retired. IQMC also arranged for $500,000 in secured convertible debt financing from Cornell Capital Partners, LP. This debt can be converted into up to 9,800,000 shares of common stock at lesser of price of $0.64, or amount equal to 80% of lowest closing bid price of common stock for the five days preceding the conversion. $300,000 of said debt was then given to Osmotex USA, which was transferred for use in research by Osmotex and by CSEM, with whom Osmotex contracted for said purpose. Additional debt was later secured, and is described by the following table:
Closing Date Gross Proceeds
August 12, 2005 $ 500,000
November 30, 2005 $ 250,000
February 8, 2006 $ 250,000
March 29, 2006 $ 500,000
February 15, 2007 $ 95,000
Additionally, the company entered into agreement with Hawk Associates, Inc., and in consideration for services, granted it five year warrants (expiring July 31, 2010) at an exercise price of $0.51/share. Upon conversion of the $500,000 convertible debt issued by Cornell Capital Partners, LLC, up to 27,000,000 shares may be issued.
Liabilities, as of June 30, 2007, are estimated at $2,902,985. Working capital was $1,101,496 in deficit, and assets stood at $230,550 in net licensed rights and $75,185 in net deferred finance charges. Accounts payable to the company was in value of $395,915. As a result of the illiquidity, the company decided to nullify its status as an SEC-filing company.
Industry:
Microfluidics is a relatively new industry, developed in the late 1990s, with applications in circuits, healthcare diagnostics, manufacturing processes, medication, fuel cells, printing, electronic displays and cooling, as well as security.
In particular, there has been a major issue: a lack of an effective, cheap microactuator; this has acted as a bottleneck for the industry for a number of years. Osmotex has developed a microfabricated low voltage actuator, which can be combined a chip to act as a scalable pump which can be easily altered for function. Osmotex exploits electrokinetic properties of fluids in order to achieve this output.
The company has a competitive advantage in that its technology does not produce electrolysis or gas evolution at the electrodes, and the systems produced can be more complex because of the inherently simple, modular nature of the “invisible pump” technology.
Osmotex also develops technologies using Micro Electro-Mechanical Systems, or “MEMS”, which can allow data-gathering from micro-environments by measuring mechanical, thermal, chemical, optical, and magnetic phenomena.
As of February 8, 2006, the WHO estimated the number of people with diabetes to be approximately 200 million, and growing; the cost of treating the disease was around $132 billion. The company believes that with consistent and accurate glucose monitoring, the amount of health care spending on diabetes complications could be significantly reduced.
IQMC !!! 002 X 0023 >>> hdsn Big short !!
Something is UP !!!!
HERE COMES THE PUSH
IQMC 002 , RM rumors >>> group loading it up !
Cola wackers need to stay away from this 1 !!!!
0019 , Who's is loading here !!! the past days ??
0019, >> 002 <hod << Low floaters are hot lately !!!
Something brewing here !!!!!!
the right RM play !!!
has more volume than before..chart looks reset IMO pretty quiet stock though
Nice to see it's still alive. Anyone care to analyze the charts on this one? Looks interesting.
IQMC Dead board but its got movement today
15's up and being baught...little suprized
15's hit~even for the day...definately strange day yesterday keep and eye on this one...may get lucky LOL
Looks like a little buying comming in...more interest than before yesterday...not all bad i guess...dead board though
hmmm....i dont know about to get shares....looking at the history of this stock's charts, it may have been just another ATM withdraw from something planned out...I could be wrong though. It was a big volume spike though which for someone holding shares and loading them for the past several months or longer only to push the panic button for dumb money (typically in the a.m. trading) to rush in an be left holding a bag or two. GLY
I'm buying here... this was a fake rush to get shares... another run will come soom imo. worth a little risk at 0.0016 imo.
hahahaha what happen here??? the same pump and dump crew involved is my guess....
IQMC Possible afternoon runner coming, thin L2, moves easily.
IQMC On watch for huge bounce after lunch.
The DD post on here is now way outdated, there certainly could be something up at some point, but they are currently deliquent with Colorado SOS, so nothing here yet IMO. From everything I'm seeing, it appears this was a short-term group play.
Someone is sitting at .0025 taking all sells.....
IQMC Forming a good base here! Still running today IMO
where do you see 500%???
Definitely not today.
I saw on L2 transactions some poor guys bought in at 0.0040 and above, up to 0.0054!
Those are now officially bag holders because they chased the stock.
As most of ppl here, I got a tweet for this momo play at 9:40am.
The pps was 0.0022. I put a buy order limit of 0.0025 and never got filled as the pps jumped right up to 0.0035!
In a couple of minutes, it reached its peak today at 0.0054 and all the first buyers dropped their shares to take the profit, in the range of 200%.
Still I think and I experienced that it is as hard to get out of a position when shares are suddenly dumped as it is to get in when you plan on chasing a stock up.
Results: a lot of ppl are now bag holders who will not have any way to get out without a heavy loss.
I didn't chase and I am a happy trader :) I save myself a nice loss today.
Let's see what next Wed 9:40AM will bring.
Whoever announced this pick can't say he sustained a 800% weekly profit...
IQMC running up today, get in for the second leg up before its too late
Anything under .003 looking like a good entry, IMO
Could bounce big from here. L2 is so thin on the ask.
Nice bid support- super thin L2- moves easily hitting that ask.
.0028 great bounce play here IMO
IQMC 1st 500% for March 2011 busting out of the gates
This is a pure P&D as this company has absolutely no news whatsoever.
It had a quick jump to 160% and then retraced right away from pumpers selling back their shares to future bag holders.
Never chase a stock, especially a P&D one like this one.
Its ALIVE buzz all over, 500% by lunch IMO
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IQ MICRO
Pink Sheets No Information
Last reported O/S 51,223,991 (June 30, 2007)
Last reported A/S 300,000,000 (June 30, 2007)
Current Market Cap: $97,300 (February 26, 2010)
About:
From their last SEC filing:
Quote:
IQ Micro Inc. is an international licensing company that commercializes proprietary technology developed for use in the microfluidics sector. Developed from the micro-chip industry, microfluidics involves circuits of tiny chambers, channels and pumps that direct the flow of liquids on a single micro-chip.
IQ Micro is actively pursuing global licensing opportunities for its patented electro-osmotic membrane technology and its "invisible pump," a microfluidic technology with a wide range of consumer, medical and industrial applications. With its proprietary technology and highly experienced management, IQ Micro expects to become a leading global, specialized supplier of low-voltage microfluidic technology.
Incorporation Documentation:
Transfer Agent:
Incorp Services
2223 Raleigh St.
Denver, CO 80219
OSMOTEX
Partnership between IQMC and Osmotex:
Quote:
On June 9, 2005, the Company (IQ Micro) commenced development activities when it acquired exclusive, worldwide sales and marketing licensing rights to microfluidics technology developed and patented by Osmotex AS ("Osmotex"), incorporated in Norway in 1999, as well as additional intellectual property rights of Osmotex together with such patents, (the "Licensed Rights").
Who is Osmotex?
From their website:
http://www.osmotex.ch
Quote:
Osmotex is an innovative company dedicated to delivering the most advanced and useful pumps for the emerging science and technology of microfluidics. We produce generic micropumps for fuel cells, life-sciences and chemical research, and do also engage in application specific development with partners.
Research Partners:
Quote:
Osmotex AG is located together with its long term research partner, the Swiss Center of Electronics and Microtechnology (CSEM) in Central Switzerland. Osmotex' research started at the Norwegian Institute of Science and Technology (NTNU) in 1999.
Caption: Dr. Tormod Volden of Osmotex working with Dr. Helmut Knapp of CSEM.
Osmotex's Patent Porfolio:
8/13/09 - ELECTRO-OSMOTIC PUMP
2/26/09 - TEXTILE HAVING WATER TRANSPORT AND HEATING CAPABILITIES
http://www.wipo.int/pctdb/en/fetch.jsp?LANG=ENG&DBSELECT=PCT&SERVER_TYPE=19-10&SORT=41269125-KEY&TYPE_FIELD=256&IDB=0&IDOC=585802&C=10&ELEMENT_SET=B&RESULT=1&TOTAL=1&START=1&DISP=25&FORM=SEP-0/HITNUM,B-ENG,DP,MC,AN,PA,ABSUM-ENG&SEARCH_IA=GB2008002815&QUERY=(FP/osmolife)+ (through parent company Osmolife)
1/22/04 - ACTUATOR IN A MICROFLUIDIC SYSTEM FOR INDUCING ELECTROOSMOTIC LIQUID MOVEMENT IN A MICRO CHANNEL
1/22/04 - FABRIC MATERIAL WITH IMPROVED LIQUID TRANSPORT
Investor Information
Here is more information on one investment company which has invested in Osmotex:
Jade Invest SA
http://www.jade-invest.ch/mission.html
http://www.jade-invest.ch/portfolio.html
Slide Show published 3 months ago:
http://www.slideshare.net/nseverin/innovation1
Article from San Diego Business Site mentions Jade Invest SA (December 24, 2009):
Banque Bonhôte invests CHF 20 million in the capital of Jade SA (October 1, 2009):
What have they been up to lately?
Articles concerning developments at Osmotex:
"Using electrokinesis is the trick with advanced micro-pumps" - Innovation Journal
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46322379
"Battery or Superfluous Battery" - Handelszeitung & The Wall Street Journal
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46669446
What products do they currently have available?
Screenshot of products page (first line of products):
Marketing material for their first line of products:
Two videos of their products:
Textile Micro-pump: http://www.osmotex.ch/en/products/textile_pump/
Pump-on-Chip: http://www.osmotex.ch/en/products/pump-on-a-chip/
Quote:
IQ Micro Inc. (OTCBB: IQMC), exclusive licensor of patented electro-osmotic membranes and micro-pumps for the rapidly emerging microfluidic technologysector, announced today that its parent company, Osmotex AS, has merged with Lifecare AS, a private Norwegian company developing advanced micro and nanotechnology for the diabetes monitoring market. The expanded parent company, renamed Osmolife AS, will continue to function as a holding company for two research and development subsidiaries and for IQ Micro, its exclusive, worldwide sales and marketing company.
Quote:
The prototypes of the SENCELL are in October 2009 going through laboratory in vitro testing to verify performance data.
Quote:
Injectable Continuous Ostomotic Glucose Sensor – LifeCare AS out of Bergen, Norway, is working on a CGM that’s so tiny it can be implanted without surgery. The product is called SENCELL, and will be injected under the skin on your wrist. The technology is based on osmotic pressure, but please don’t ask me to explain the science behind it; something about a “reversible competitive affinity assay” that recognizes changes in glucose levels, and then wirelessly transmits them to an external receiver. All I know now is that the company claims it’s the “new frontier in CGM!” SENCELL is currently undergoing laboratory in vitro testing to determine reactions from the immune system. Hmmm.
Quote:
IQ Micro Inc. (OTCBB: IQMC), exclusive licensor of patented electro-osmotic membranes and micro-pumps for the rapidly emerging microfluidic technology sector, announced today that its parent company, Osmotex AS, has merged with Lifecare AS, a private Norwegian company developing advanced micro and nanotechnology for the diabetes monitoring market. The expanded parent company, renamed Osmolife AS, will continue to function as a holding company for two research and development subsidiaries and for IQ Micro, its exclusive, worldwide sales and marketing company.
IQ Micro Inc., exclusive licensor of patented electro-osmotic membranes and micro-pumps for the microfluidic technology sector, has entered an agreement in principle with its parent company, Osmolife AS, to acquire all of the issued and outstanding shares of Lifecare AS. A private Norwegian company, Lifecare is developing advanced micro and nanotechnology for the diabetes monitoring market. The proposed transaction is scheduled to close on July 15, 2007.IQ Micro President and CEO, Johnny Christiansen, said, "With this acquisition, IQ Micro will strengthen its position in the $11 billion worldwide diabetes market by gaining immediate access to the parent company's proprietary technologies. As we continue to commercialize our licensed microfluidics technologies, Lifecare's patented technology will create another important building block in the future of diabetes treatment for the company."Lifecare has been developing an implantable osmotic sensor for automated, continuous glucose monitoring. The company's proprietary sensor, SENCELL, promises precision and accuracy beyond existing solutions. SENCELL integrates micro and nanofabrication technologies into a tiny device that provides a platform for development of a long-term, in vivo glucose sensor solution to replace conventional, less efficient glucose monitoring and measurement techniques.
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