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This is another momo play,no money no revenue,just bs. imo
This is more from the 10q for elgo Going Concern Consideration
The Company is in the development stage with no operations, a net loss of $117,827 from inception and used cash in operations from inception of $77,421. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan as described above. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.
Critical Accounting Estimates and Recently Issued Accounting Standards
Uhm, ELGO just bought BBAL which is fresh capital into ELGO, respectively BBAL is becoming ELGO!
So that 10Q doesn't matter anymore!
This is from the ELGO 10q in may 11 There can be no assurance that we will be successful at raising any additional capital through our registration statement or any other sources of capital will be available to us. Other than the current $1,750,000 offering, we currently have no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since we have no other such arrangements or plans currently in effect, our inability to raise funds for the above purposes will have a severe negative impact on our ability to remain a viable company for the next twelve months. If we are not successful in raising sufficient capital, this would have a material adverse effect on our business, results of operations, liquidity and financial condition. They are not only broke but losing money.
From ELGO!
ELGO is buying BBAL!
Where is the money for continued trials and the rm coming from? Anybody know?
BBAL = E.Coli stock, big player here with huge PR out on friday
Enterologics, Inc. (ELGO.OB) announced today that it is acquiring all the shares of The BioBalance Corporation and its subsidiary BioBalance LLC from New York Health Care, Inc. (NYHC). With this purchase Enterologics will acquire E. coli M17, or Probactrix, a probiotic product being developed as a biologic drug under an active Investigational New Drug (IND) application for a pouchitis-related indication. Probiotics are live microorganisms (in most cases, bacteria) that are similar to or derived from beneficial microorganisms found in the human gut. They are also called "friendly bacteria" or "good bacteria."
GM all! BBAL gapping .06x.068 so far! Looking for .20's today???
bbal should fly today teens to twenties is my prediction
You got it bro: they will meet both at .30+ and more
BBAL & ELGO hmmm
ELGO chart steady rising in the last 5 business days...I wonder how BBAL will look in 5 business days? Similar share structure!!!
ELGO .27 @ 35 Mil. o/s
BBAL .055 @ 33 Mil. o/s
Huge Monday and week ahead. We own the shares that ELGO is buying up so let's drive this to .50+!
This makes it officially official. Count me in too.
BBAL ~ wow....you're the mod over here also!
You're just in all the good stocks MNYC!
sdh
We own the shares!
I would love to see .50
too but does anyone really have any idea at what pps BBAL is being acquired for
Senator James L. Seward: NY can control own health care destiny
Senator co-introduces bill to help consumers with health insurance
http://www.thedailymail.org/articles/2011/06/17/news//doc4dfae0aed9006506331283.txt
this will reach around 0.5 by end of next week..i will buy more when ever there is a pullback
Ready for .10's break Monday. After .125 break it's squeeze time to .50+
New York Health Care, Inc. (BBAL) Shares Skyrockets On Announcement of Acquisition by ELGO
BBAL Turning to Pharmaceuticals in the 2000s
Revenues totaled $23.8 million in 1999 and grew to $29.4 million in 2000. It was at this point that New York Health Care began to look in an entirely different direction, from home healthcare to dabbling in the pharmaceutical industry. In October 2001, it agreed to acquire a start-up company, The Bio Balance Corporation. It was incorporated as "The Zig Zag Corp." in May 2001 and changed its name to Bio Balance shortly before the acquisition overture from New York Health Care. The company was engaged in research in Israel to develop "probiotic" technology for use in treating gastrointestinal diseases such as irritable bowel syndrome and forms of chronic diarrhea and inflammatory bowel disease in both animals and humans. Probiotics are live microorganisms or microbial mixtures that have the potential of stimulating the growth of healthy bacteria inside a host and restoring the microbial balance to address gastrointestinal disorders. Bio Balance was already working on its first product in Israel, an oral liquid called Bactrix, later renamed Probactrix. It consisted of a nontoxic strain of E.coli preserved in a vegetable extract formulation. The plan was to market it as a medical food, rather than a drug. In this way, the company avoided the more stringent requirements facing a drug. Classifying the product as a food ingredient, Bio Balance could self-determine that Probactrix was "generally recognized as safe." A potential major use for the product was in treating AIDS-related diarrhea caused by a reaction to antibiotics and irritable bowel syndrome suffered by AIDS patients. Company researchers also would pursue the development of a prescription drug for AIDS-related diarrhea. The upside for the technology was tremendous, with the company estimating that the market for an effective irritable bowel syndrome treatment could top $1 billion a year. For a small company like New York Health Care, which posted sales of $34.3 million in 2001, the allure proved irresistible.
The Bio Balance transaction was not consummated until January 2003, in what became a reverse merger. Technically, although New York Health Care acquired Bio Balance, it was the start-up business that was the key player in the deal, as revealed by the company's new ticker symbol, BBAL. Following a reverse stock split the pre-merger shareholders of Bio Balance owned about 90 percent of the company. In conjunction with the merger, Bio Balance privately placed more than $6 million in stock, the proceeds of which were earmarked for its operations. In essence, New York Health Care's function was to provide cash flow to support Bio Balance while it developed a revenue-generating business.
Although it had been in operation for 20 years, New York Health Care was little known on Wall Street until the summer of 2003. Priced at $2 in early July, the company's stock topped $3.25 a month later, prompting a notice in Business Week. The company attributed investor interest to excellent trial results on AIDS patients at The Moscow Center of HIV. That reasoning was thrown into doubt a few months later when a former Bio Balance director, Paul Stark, and a company consultant were indicted by the U.S. Attorney's Office, accused of trying to inflate the price of New York Health Care stock by bribing a hedge fund manager to buy 500,000 shares. In reality the manager was an undercover FBI agent. The company emphasized that the indictment made no mention that the price of the stock had actually been manipulated and following an internal investigation concluded that none of its current officers, directors, or employees were involved in or knew about the scheme.
In 2003 New York Health Care recorded revenues of more than $45 million, but because of the cash requirements of Bio Balance, the company lost $22 million. The company took the next step in its transition from healthcare provider to biotech in August 2004 when Jerry Braun stepped down as CEO, replaced by Bio Balance's president Dennis O'Donnell, a 20-year veteran of the pharmaceutical industry. At the same time, the company announced that it would sell off its home healthcare business in order to become a dedicated pharmaceutical company, and it intended to change its name to Bio Balance Holdings Inc. Three weeks later, the company reached an agreement with Braun and Jacob Rosenberg, a New York Health Care director since 1983, to acquire the healthcare business for $4 million. Yet, several months later the pair had still not raised the necessary money. Instead, in April 2005, New York Health Care divested its New Jersey healthcare business to Accredited Health Services, Inc. It was a significant step in restructuring the company as a dedicated pharmaceutical company.
Company history of NYHC & BBAL-A Good Read!
http://www.fundinguniverse.com/company-histories/New-York-Health-Care-Inc-Company-History.html
agreed chart looks good, however there was no wack, was a bidsitter @.055, that they filled......is it monday yet?
good close here today...i think we've both earned enough in the past few days to have an extravaganza this weekend...cigars and fine wine in order. see u tonight $treet
All that counts on a Friday and such a big run is this:
It held pretty much all gains and didn't fall back down nor sell of on a Friday.
Pretty stunning.
I was expecting it to touch below .05 on a Friday but it didn't. In fact it almost closed .06 (500%) if it wasn't for the EOD whack.
And with a float of about 15mil and ELGO buying all shares/ buyout we will see .20-.30+ levels like ELGO soon!
look guys i told you that eod sell is now green it was a buy on the bid....sneaky MMS......as were the other .06s...trying to pry shares from the weak...but nobody sold haha.....monday $$$$$$$$$$$$..eod was buying not selling......
Yea, these BBAL shares are valuable to Enterologics, Inc.
Like I said probably 15mil float - o/s is 33mil
BBAL Float less than 33 Million
less than 10 Buys from .01 - .04 !!! this morning!
Float less than 33 Million
BBAL flew on low volume from .01 - .04 Today on less than 10 buys
Please Send Request Here for BBAL Chart
http://stockcharts.com/help/doku.php?id=support:feedback:symbol_request
MMs needed shares so they filled some bidsitters eod...to drop price......they can still show buys as sells and vice versus.....imo...look at all the 100 trades.....
Not too late to get in. Gapper Monday and run above .10's! Once it breaks .125 it's on for .50 as barely anything on L2
ELGO is buying all the shares of BBAL !
It's too late to get in now. Whoever booked their seat is in for a wild ride this Monday!
Shareholder Games on that whack!
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Providing a full range of home health care services to the senior, disabled and rehabilitative patients in the greater New York Metropolitan Area, Long Island and Hudson Valley Areas. Does your elderly parent or grandparent need home care, beyond what insurance covers? Perhaps you're not sure what kind of in-home care is needed. When in-home care services aren't fully covered by insurance, New York Health Care is your solution. Servicing NY Metropolitan Area Since 1983
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Established in 1983, New York Health Care, Inc. was formed as a natural outgrowth of the increased demand for at-home health care services. We provide a full range of home health care services to the Senior, Disabled and Rehabilitative patient in the greater New York Metropolitan area, Long Island and Hudson Valley Areas.
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NEW YORK HEALTH CARE, INC. is licensed by the New York State Department of Health to operate as a Licensed Home Care Services Agency. NYHC makes every effort to anticipate our clients' needs. Our staff is carefully selected and trained to provide a wide range of services that make the patient feel like they are being treated by a family member.
NEW YORK HEALTH CARE PROVIDES:
NYHC PROVIDES CAREGIVERS THAT ARE BILINGUAL IN SPANISH, RUSSIAN, CHINESE, ITALIAN, CREOLE, & POLISH |
Location Type | Headquarters |
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Annual Sales(Estimated) | 44,399,303 |
Employees(Estimated) | 1,462 2 |
SIC Code | 2834, Pharmaceutical Preparations |
NAICS Code | 325412, Pharmaceutical Preparation Manufacturing |
Products, Servicesand Brands | Information not found |
State of Incorporation | New York |
Years in Business | 27 |
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