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OPBL registration revoked:
https://www.sec.gov/litigation/admin/2019/34-85338.pdf
OPBL revoked just today along with three others HFCO, LBYE and OMBG.
OPBL's stock registration will be revoked because the SEC is intolerant towards SEC Registered stocks who fail to file Financials. To your question, after OPBL's stock registration is revoked the company can begin the long process of re-registering with a FORM 10 whereby they would need to audit their Financials to the last audited Financials. Be advised, though, that even if OPBL does try to re-register the SEC uses a HUBBLE-sized microscope to examine every infinitesimal detail.....only a few revoked stocks ever tried to re-register and only two were successful in the last 7 years.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=133446961
Do you think they'll get it relisted?
It still has value as a shell.
OPBL SEC Suspension for delinquent Financials/Filings:
https://www.sec.gov/litigation/suspensions/2017/34-81729.pdf
Order:
https://www.sec.gov/litigation/suspensions/2017/34-81729-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2017/34-81728.pdf
I noticed that this unusual volume occurred almost exactly 1 year ago too.
Nothing developed a year ago. It remained inactive and flat.
So..........
Was there a 11,000 share purchase?
It's a clean shell, owned by millionaire finance guy... I bet something is up...
It's alive!
Up 220% today on decent volume.
Anyone know what's up?
Is someone buying the shell? Merger?
Shhhhh - Our litte secret $OPBL....
Agreed
Go $OPBL
Nice
Go $OPBL
$OPBL - Due Diligence...
Mark A. Nordlicht-Co-Chief Investment Officer, Managing Partner, and Chairman , Platinum Partners
This person is connected to 3 Board Members in 3 different organizations across 5 different industries.
48 --
Background
Mr. Mark A. Nordlicht serves as the Co-Chief Investment Officer, Managing Partner, and Chairman of Platinum Partners. Mr. Nordlicht previously served as the Chief Investment Officer at the firm. He founded the firm. Mr. Nordlicht is also a Co-Chief Investment Officer at Platinum Management (NY) LLC. He serves as the Manager at Fennmore Holdings LLC. Previously, Mr. Nordlicht was the Founder, Chief Executive Officer, and Chairman of Optionable. He was the Founder at WEC Asset Management, LLC. Mr. Nordlicht served as the Founder and Managing Partner at West End Capital from 1997 to 2001. In addition, he was the Founder and Managing Partner at Northern Lights Trading, which Mr. Nordlicht had founded in 1991. He served as the Chief Executive Officer at iDerive. Mr. Nordlicht served as a Principal Financial Officer and Principal Accounting Officer at Platinum Energy Resources Inc. He started his career as a Trader in the pits of the New York Cotton Exchange. Mr. Nordlicht serves as the Executive Chairman of Platinum Diversified Mining Inc. He has been a Director of Platform Acquisition Corp. International since October 2006 and China Cablecom Holdings, Ltd. since November 17, 2010. He served as the Chairman and Director of Optionable Inc. from February 2000 to May 2007 and Platinum Energy Resources Inc. from April 25, 2005 to October 2007. Mr. Nordlicht earned a B.A. in Philosophy from Yeshiva University.
09/share-NOLs-Debt-free-Insiders-bought-millions-for-.02-and.03
Low floater... The number of shares of registrant’s common stock outstanding, as of May 15, 2015 was 73,074,242.
Optionable, Inc. (the “Company”) is a corporation that was formed in Delaware in February 2000. Between April 2001 and July 2007, a substantial portion of our revenues were generated from providing energy derivative brokerage services to brokerage firms, financial institutions, energy traders and hedge funds worldwide.
The Company has not generated any revenues since the third quarter of 2007 as a result of the termination of the business relationship with its largest customer in 2007 together with the combined succession of events since then. The litigation matters listed below and discussed in Item 3 of Part I of this Report, "Legal Proceedings," have all been resolved, settled and dismissed, however they have historically had a significantly adverse impact on its business and financial condition, though all such matters have since been settled and dismissed.
The Company’s management is exploring and seeking possible business transactions and new business relationships in areas unrelated to brokerage services. In addition, the Company’s management is exploring and seeking possible sources of additional capital to fund the Company’s ongoing expenses. There can be no assurance that the Company will be successful in securing new sources of capital or business transactions or relationships in areas unrelated to brokerage services.
On April 10, 2013, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Mark Nordlicht, a current stockholder of the Company (the “Subscriber”), pursuant to which the Company sold to the Subscriber an aggregate of 35,500,000 shares of the Company’s common stock, par value $.001 (the “Securities”), at a purchase price of $0.02 per share (the “Purchase Price”), for a total offering amount, before Offering related expenses, of $710,000 (the “Offering”). The Offering closed immediately following the execution and delivery of the Purchase Agreement by the Company and the Subscriber. After giving effect to the Offering, there were 83,833,128 shares of Common Stock outstanding and options to purchase an aggregate of 2,983,000 shares of Common Stock outstanding.
On May 22, 2014, the Company entered into a Settlement Agreement (the “Agreement”) with Mark Nordlicht (“Nordlicht”) and CME Group, Inc. (“CME”) (Nordlicht, together with the Company, the “Optionable Parties,” and the Optionable Parties together with CME, the “Parties,” and each, a “Party”) which sets for the agreement for the final terms of settlement and dismissal of the lawsuit entitled CMEG NYMEX Holdings, Inc. v. Optionable, Inc. et al., No. 09-CV-3677 (S.D.N.Y.) (the “Litigation”). Pursuant to the Agreement, Nordlicht agrees to make a settlement payment to CME on or before June 3, 2014, and CME agrees to return to the Company 10,758,886 shares of common stock issued by the Company to it in 2007. The Company accounted the return of 10,758,886 shares as treasury stock. After giving effect to the Settlement Agreement, there are 73,074,242 shares of Common Stock outstanding and options to purchase an aggregate of 4,613,000 shares of Common Stock outstanding.
On July 21, 2014, in a transaction exempt from registration under Section 4(2) of the Securities Act of 1933, the Company executed an agreement to sell 1,000,000 shares of its restricted common stock to an insider at a purchase price of $0.03 per share for a total aggregate purchase price of $30,000. In addition, on September 4, 2014, in a transaction exempt from registration under Section 4(2) of the Securities Act of 1933, the Company executed an agreement to sell 11,000,000 shares of its restricted common stock to an insider at a purchase price of $0.02 per share for a total aggregate purchase price of $220,000. As of September 30, 2014, $69,000 had been funded and the shares will be transferred upon the completion of the entire agreed upon fundings. The receipt of $69,000 was accounted as stock subscription in the accompanying balance sheet as of December 31, 2014.
The Company was a defendant in two significant legal proceedings, one brought by its largest stockholder, Chicago Mercantile Exchange/ New York Mercantile Exchange (“NYMEX”) which was settled on May 22, 2014, and another brought by its former largest customer, Bank of Montreal (“BMO”), which was settled during 2013. As such, as of the date of this Annual Report on Form 10-K, the Company is no longer involved in any legal proceedings.
-Note 7 - Income Taxes-continued
The Company has net operating losses of approximately $7,085,894 as of December 31, 2014 for both federal and state tax purposes that expire in 2034.
The valuation allowance of deferred tax assets increased by approximately $305,156 during 2014.
https://www.sec.gov/Archives/edgar/data/1303433/000143774915010396/opbl20141231_10k.htm
Yea, best to just wait it out here, imo, as a clean shell should be worth something to anyone wanting to take a private company public, imo... And with Nordlicht controlling the majority shares, they would be forced to deal with him to gain control of the shell... Ok thanks for the response, if I get anything else... I will post it. CHEERS!
Pretty hard to get info about OPBL since they are a DE corp, I see they are not up to date on their filings. I also tried to go to their website I got this instead...
http://www.optionable.com/cgi-sys/defaultwebpage.cgi
Not sure what it means?
https://documentation.cpanel.net/display/EA/Introduction+to+EasyApache
It could be a miracle and OPBL is updating their webpage? I haven't checked out their webpage for a few years.
I am not offering advise, but if I owned OPBL shares today I'd probably hang onto them a little while longer. If nothing else in Nov/Dec 2016 you could take a tax loss on them?
Thanks for the response... I'm looking at the fact that he paid .02 for over 30 million shares, so maybe a few hundred thousand shares at .01 or less might be worth holding as a lotto in case the shell ever is merged or relaunched... The downside is I guess the registration could just be revoked and you would lose it all...
Could be he is making so much money he can't be bothered with small potatoes like OPBL? My Father owned shares, but they were sold a few years back to settle his estate. I haven't been following OPBL, but I guess I haven't missed anything.
IMO Nordlicht will eventually sell the shell or merge something into it.
Mark A. Nordlicht-Co-Chief Investment Officer, Managing Partner, and Chairman , Platinum Partners
This person is connected to 3 Board Members in 3 different organizations across 5 different industries.
48 --
Background
Mr. Mark A. Nordlicht serves as the Co-Chief Investment Officer, Managing Partner, and Chairman of Platinum Partners. Mr. Nordlicht previously served as the Chief Investment Officer at the firm. He founded the firm. Mr. Nordlicht is also a Co-Chief Investment Officer at Platinum Management (NY) LLC. He serves as the Manager at Fennmore Holdings LLC. Previously, Mr. Nordlicht was the Founder, Chief Executive Officer, and Chairman of Optionable. He was the Founder at WEC Asset Management, LLC. Mr. Nordlicht served as the Founder and Managing Partner at West End Capital from 1997 to 2001. In addition, he was the Founder and Managing Partner at Northern Lights Trading, which Mr. Nordlicht had founded in 1991. He served as the Chief Executive Officer at iDerive. Mr. Nordlicht served as a Principal Financial Officer and Principal Accounting Officer at Platinum Energy Resources Inc. He started his career as a Trader in the pits of the New York Cotton Exchange. Mr. Nordlicht serves as the Executive Chairman of Platinum Diversified Mining Inc. He has been a Director of Platform Acquisition Corp. International since October 2006 and China Cablecom Holdings, Ltd. since November 17, 2010. He served as the Chairman and Director of Optionable Inc. from February 2000 to May 2007 and Platinum Energy Resources Inc. from April 25, 2005 to October 2007. Mr. Nordlicht earned a B.A. in Philosophy from Yeshiva University.
So Nordlicht did nothing with OPBL? Why doesn't he just sell the shell?
Will the SEC shut OPBL down for non-filing now? Will the registration be pulled? I haven't seen anything filed, and here is the non-filing supension list...YIKES. Does anyone know anything?
https://www.sec.gov/litigation/suspensions.shtml
Glad it's over. Still holding a little. I had it here for a while last year
http://investorshub.advfn.com/e-ores-sleepers-25888/
Yes, it is finally over and Nordlicht will be buying back all the OPBL shares from CME. That should make OPBL a clean shell. Then who knows what will happen next. Stay tuned.
Maybe at last these cases will get settled...
http://www.insidecounsel.com/2013/12/02/former-optionable-ceo-files-to-dismiss-bmo-suit-pe
Read what happened yesterday Oct 30,2013 OPBL &BMO Case Management Conf. with Judge Cott at...
http://traderelvis.blogspot.com/
Thanks Elvis
Things are starting to brew. You can get caught up with what's going on by going to OPBL website...
http://www.optionable.com/press-releases.htm
Anyone know if one of the producers of this film “The Best Kept Secrets” is the same Mark Nordlicht that owns controlling interest in OPBL?
http://www.hollywoodreporter.com/review/best-kept-secret-film-review-622250
I think it's worth a few speculative bucks right now and see how things pan out going forward. Nothing ventured nothing gained, GLTUA
BINGO
now that Nordlicht is the controlling shareholder in this 'shell,' big things might be headed our way. He just acquired a reporting shell on the otcbb with 83 million shares for $710k. Saves millions of dollars instead of going through the IPO process.
It's a win-win for Nordlicht because he can pursue the legal battle and possible r/m one of his private investments into OPBL
Hey is this the guy, Managing Partner, Platinum Partners?
http://www.linkedin.com/pub/mark-nordlicht/16/937/952
Mark Nordlicht, Chief Investment Officer of Platinum Partners Hedge Fund, brings over 20 years of experience to the fund. The Platinum Partners Hedge Fund, which Mr. Nordlicht founded in 2003, is a multi-strategy hedge fund seeking to deliver superior risk adjusted returns uncorrelated to any broader market activity. Mr. Nordlicht is responsible for oversight of all trading, asset allocation and risk management for the company, which is headquartered in New York.
Mr. Nordlicht started his career as the youngest trader in the pits of the New York Cotton Exchange; he was 22 at the time. In 1991, Mark Nordlicht founded Northern Lights Trading and was its general partner until 2000. Northern Lights Trading was a proprietary options firm based in New York which employed traders in cotton, coffee, natural gas, crude oil, gold and silver. From 1997 to 2001, partially overlapping his time at Northern Lights, Mark Nordlicht was a founder and managing partner of West End Capital, a New York-based money management firm.
http://www.platinumlp.com/
He's smarter than me as well, board marked
Look at my post #875, Nordlicht is buying again.
I'm with him because I know he's much smarter than me.
This must give Mark Nordlicht controlling interest. Things are starting to get very interesting.
8k out
On April 10, 2013, Optionable, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Mark Nordlicht, a current stockholder of the Company (the “Subscriber”), pursuant to which the Company sold to the Subscriber an aggregate of 35,500,000 shares of the Company’s common stock, par value $.001 (the “Securities”), at a purchase price of $0.02 per share (the “Purchase Price”), for a total offering amount, before Offering related expenses, of $710,000 (the “Offering”). The Offering closed immediately following the execution and delivery of the Purchase Agreement by the Company and the Subscriber. After giving effect to the Offering, there are 83,833,128 shares of Common Stock outstanding and options to purchase an aggregate of 2,983,000 shares of Common Stock outstanding.
The foregoing description of the Purchase Agreement is a summary and is qualified in its entirety by reference to the form of Purchase Agreement attached as Exhibit 10.1 hereto and incorporated herein by reference.
I'm in for no reason this afternoon watching it hit a new 52 wk high
Months ago Nordlicht bought shares of OPBL through a public offering and has files lawsuits. Nordlicht obviously thinks OPBL has value and has files lawsuits to hopefully bring that value to the stock. If it's toast as you say, then sell and move on.
Did you read the SEC filings? OPBL is toast.
Last time I looked they still had 8 cents a share in cash. Nordlicht is in the process of going after BMO and the CMEG/Nymex counter claims were allowed to stand. So there still is life left in OPBL.
OPBL will go bankrupt before the end of this year, as they are just about out of money, and just got legal setbacks, so I don't see anything but bankruptcy in OPBL's future at this point.
Get ready for Fire Works. This will probably be a long drawn out process, but this could start to get very interesting!
Nordlicht wants to go after BMO and NYMEX for Big Bucks!
See below...
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8017430-1131-23778&type=sect&TabIndex=2&companyid=649638&ppu=%252fDefault.aspx%253fcompanyid%253d649638%2526amp%253bformtypeID%253d358
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465 Columbus Avenue
Suite 280
Valhalla, NY 10595
United States - Map
Phone: 914-773-1100
Fax: 914-773-1500
Web Site: http://www.optionable.com
DETAILS
Index Membership: N/A
Sector: Financial
Industry: Investment Brokerage - National
Full Time Employees: 3
BUSINESS SUMMARY
Optionable, Inc. provides services for the brokerage of energy derivatives to brokerage firms, financial institutions, energy traders, and hedge funds in the United States. It offers natural gas and other energy derivatives trading and brokerage services, OTC energy derivatives brokerage services, energy futures derivatives services, and services for lesser used derivatives, such as swaptions. It provides voice brokerage and floor brokerage services at the New York Mercantile Exchange and is developing an automated derivatives trading platform, OPEX. The company was founded in 2000 and is headquartered in Valhalla, New York.
Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services. The company provides its services to brokerage firms, financial institutions, energy traders and hedge funds nationwide. Optionable is a public company with its stock trading on the OTC Bulletin Board.
Optionable provides its customers a full range of trading strategies, including voice brokerage, floor brokerage services at the New York Mercantile Exchange (NYMEX) and Optionable is developing an automated derivatives trading platform named OPEX. Drawing upon the more than twenty years of experience of its senior traders, Optionable works closely with the customers to tailor trades and develop the best trading strategies to meet the customers' investment objectives.
OPEX will be a real-time electronic trade matching and brokerage system designed to improve liquidity and transparency in the energy derivatives market. OPEX, is designed to be the first of its kind real-time electronic trade matching and brokerage system featuring trading strategies used by professional options traders. OPEX trading platform has also been certified to connect with the NYMEX ClearPort(r) electronic trading and clearing platform.
Optionable was founded with the goal of creating a comprehensive electronic options trading platform that eliminates the inherent inefficiencies of the traditional open-outcry and over the counter (OTC) trading environments.
Optionable's founders recognized that there is a specific void in the current open-outcry and OTC marketplaces. The traditional open-outcry system, currently used on the trading floors of regulated commodity exchanges throughout the world, suffers from a number of serious drawbacks. These markets cannot provide their traders with vital information such as the size of the best bid or ask price. Some trading pits have grown so large that it is virtually impossible to hear what is trading on the opposite side of the pit. This creates an un-level playing field where a trader's financial success can largely be affected by where he or she is located in a particular trading pit. Additionally, traders are limited by the exchange listed strike prices and expiration dates and do not have the flexibility to create trades with customized strike prices or expiration dates.
The over the counter (OTC) commodity market is a broker dominated telephone based marketplace. Market participants depend solely upon their brokers to supply them with all market information and trade confirmations. As a result, the current OTC trading process fails in the fundamental market function of matching the best seller with the best buyer because there is no centralized marketplace where all participants can simultaneously receive accurate market information. Additionally, the telephone-based system is not electronic and therefore cannot be integrated into the customer's own computer systems. This lack of a computerized audit trail results in error prone and overhead intensive back office operations for all market participants. Electronic order matching and brokerage through OPEX will help risk managers and back offices with mark to markets.
Options are an effective tool used by producers and end users to minimize risk, and serve as a speculative vehicle for risk takers who provide liquidity to market participants. While many in the trading community have rushed to develop electronic trading systems, options trading capabilities have thus far been lost in the shuffle. Even when options trading has been built into a system, it has been done as an afterthought. OPEX was designed specifically for options and swaps trading by professional derivatives traders. Harnessing the power of the Internet, OPEX intends to greatly improve the way derivatives are currently traded and to expand the number of markets where derivatives can be used.
The OPEX Trading Platform
The OPEX trading platform can be applied to an unlimited number of underlying contracts and will revolutionize the way derivatives are traded and brokered in various marketplaces such as:
Regulated Commodity Exchanges
Over the Counter (OTC) Commodities
Over the Counter (OTC) Equities
Over the Counter (OTC)Currencies
The OPEX electronic order matching and brokerage system eliminates the inefficiencies of the traditional trading environments by introducing the following innovations:
Complete Price Transparency:
The OPEX MarketPlace enables each trader to view, in real time, all available bids and offers in the marketplace as well as the number of corresponding contracts for each bid and offer.
Anonymity:
The OPEX trading platform preserves the anonymity of it's users by only representing the price and size information of all trades. Since the information is handled electronically, confidentiality is assured.
Customized Expiration Dates:
Traders are currently limited by the standard expiration dates set by the exchanges. OPEX revolutionizes the way derivatives are traded by empowering its users to create options and futures trading strategies with customized expiration dates.
Customized Strike Prices:
Rather than being constrained by listed strike prices, traders will be able to create strike prices tailored to their market expectations.
Credit Screening:
The OPEX MarketPlace was designed to enable its Over The Counter users to create a select list of approved counter-parties. The trading system ensures that only approved counter parties can execute trades with each other. OPEX's users can update their counter-party lists at any time.
Virtual Back Office:
OPEX automatically generates a digital audit trail once a trade is consummated. Previous trades going back years will be stored in the OPEX system.
Seamless System Integration:
The OPEX API will allow for future integration of our system with a customer's own systems and/or third party software providers.
http://www.optionable.com/
News
http://finance.yahoo.com/q?s=OPBL.OB
http://www.optionable.com/news.php
Fourth Quarter and Year End 2006 Conference Call
http://www.investorcalendar.com/IC/ClientPage.asp?ID=113439
KEY EXECUTIVES
Mr. Edward J. O'Connor , 54
Pres, Treasurer
Mr. Thomas Schnell ,
VP of O T C Brokerage Service
Mr. Albert Helmig , 55
Exec. Chairman and Member of Fin. Committee
Mr. Marc-Andre Boisseau , 43
Chief Financial Officer and Principal Accounting Officer
Mr. Yechiel Abraham Zucker , 33
Exec. VP and Sec.
Primary State of Incorporation: Delaware
Country of Incorporation: USA
Transfer Agent
Continental Stock Transfer & Trust Company
17 Battery Place South
New York, NY 10004
Phone: (212) 509-4000
E-mail: cstmail@continentialstock.com
Website: http://www.continentalstock.com
Outstanding Shares: 52,263,403 as of 2007-04-20
Estimated Market Cap: 21.95M as of 2007-05-25 (based on Outstanding Shares as of 2007-04-20)
Number of Shareholders of Record: 14 as of 2007-03-23
Major Holders
http://finance.yahoo.com/q/mh?s=OPBL.OB
Insider Transactions
http://finance.yahoo.com/q/it?s=OPBL.OB
OPTIONABLE, INC. |
CONSOLIDATED BALANCE SHEETS |
September 30, 2009 | December 31, 2008 | |||||||
ASSETS | (Unaudited) | (1) | ||||||
Current Assets: | ||||||||
Cash and cash equivalents | $ | 3,958,302 | $ | 8,974,282 | ||||
Recoverable Income Taxes | 985,525 | 958,294 | ||||||
Notes Receivable, net of allowance for doubtful accounts of $80,000 at September 30, 2009 | - | - | ||||||
Prepaid Expenses | 1,167,868 | 1,269,827 | ||||||
Total current assets | 6,111,695 | 11,202,403 | ||||||
Total assets | $ | 6,111,695 | $ | 11,202,403 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current Liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 756,949 | $ | 420,590 | ||||
Due to stockholder | - | 97,907 | ||||||
Income Tax Payable | - | 83,555 | ||||||
Total current liabilities | 756,949 | 602,052 | ||||||
Due to stockholder, net of unamortized discount of $2,618,270 at December 31, 2008 | - | 2,426,240 | ||||||
Due to director, net of unamortized discount of $316,961 and $355,126 | ||||||||
at September 30, 2009 and December 31, 2008, respectively | 191,736 | 153,571 | ||||||
Total liabilities | 948,685 | 3,181,863 | ||||||
Stockholders' Equity: | ||||||||
Preferred Stock; $.0001 par value, 5,000,000 shares authorized, none issued | ||||||||
and outstanding | - | - | ||||||
Common stock; $.0001 par value, 100,000,000 shares authorized, | ||||||||
52,428,203 issued and 48,328,328 and 52,423,403 outstanding at September 30, 2009 | 5,242 | 5,242 | ||||||
and December 31, 2008, respectively | ||||||||
Additional paid-in capital | 162,783,753 | 162,766,096 | ||||||
Treasury stock at cost, 4,099,875 and 4,800 shares at September 30, 2009 | ||||||||
and December 31, 2008, respectively | (47,552 | ) | (2,506 | ) | ||||
Accumulated deficit | (157,578,433 | ) | (154,748,292 | ) | ||||
Total stockholders’ equity | 5,163,010 | 8,020,540 | ||||||
Total liabilities and stockholders’ equity | $ | 6,111,695 | $ | 11,202,403 |
OPTIONABLE, INC. |
CONSOLIDATED STATEMENTS OF OPERATIONS |
For the three-month period ended | For the nine-month period ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Operating expenses: | ||||||||||||||||
Selling, general and administrative | $ | 527,785 | $ | 226,646 | $ | 2,803,433 | $ | 1,831,230 | ||||||||
Research and development | - | 98,660 | - | 559,105 | ||||||||||||
Total operating expenses | 527,785 | 325,306 | 2,803,433 | 2,390,335 | ||||||||||||
Operating loss | (527,785 | ) | (325,306 | ) | (2,803,433 | ) | (2,390,335 | ) | ||||||||
Other income (expense): | ||||||||||||||||
Interest income | 3,944 | 42,070 | 38,635 | 198,758 | ||||||||||||
Interest expense to related parties | (13,103 | ) | (97,362 | ) | (141,879 | ) | (283,581 | ) | ||||||||
Total other expenses | (9,159 | ) | (55,292 | ) | (103,244 | ) | (84,823 | ) | ||||||||
Loss before income tax | (536,944 | ) | (380,598 | ) | (2,906,677 | ) | (2,475,158 | ) | ||||||||
Income tax benefit | 338,341 | 72,165 | 76,537 | 881,579 | ||||||||||||
Net loss | $ | (198,603 | ) | $ | (308,433 | ) | $ | (2,830,140 | ) | $ | (1,593,579 | ) | ||||
Basic earnings per common share | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.06 | ) | $ | (0.03 | ) | ||||
Diluted earnings per common share | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.06 | ) | $ | (0.03 | ) | ||||
Basic and diluted weighted average common | ||||||||||||||||
shares outstanding | 48,328,328 | 52,023,047 | 49,183,344 | 52,023,047 |
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