Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I've been waiting patiently for more information, such as today's good news, to hit the wires. Nice to see.
Interesting news today:
• Portage Biotech (OTC:PTGEF) announces an additional €600k investment in Stimunity, the Paris-based cancer immunotherapy company focused on STING
• Stimunity has reached a major milestone in its preclinical development plan and the additional financing will enable it to start the manufacturing of its biologic cGAMP-VLP (STI-001) lead compound.
It’s all good man. The way ode goes, you know. Best of luck to you in holding!
I’m more curious what the company is up to and what the acquisition of salva is going to bring to the table. Would love for this to get in the dollars and hold it. May be an unrealistic expectation though.
Sorry, Tex. And, trust me......I am VERY sorry! Ugh! I wasn't expecting to pay those extra taxes this year either. Of course, I'll discuss the situation with my tax guy, but I don't think there's any way around it. The dividend distribution is basically considered additional income.
Anyway, glad to see that BHVN continues to do well and I've held all my shares. So, things could be worse!
Well shit. Glad I postponed my appointment. Thanks a trillion Maui!
Tex, unfortunately, I think you/we are wrong about this. Ugh!
I have just started my tax preparation for my meeting with my tax guy next Monday. I took a closer look at my 1099 statement that I received from TD Ameritrade.
It appears that the entire amount of the BHVN dividend is taxable. This amount will all be added to your total income as a "Qualified Dividend". So, basically, the number of distribution shares of BHVN you received will be multiplied by approximately $27. This figure will be your taxable portion of the distribution
So, of course, any sales of BHVN will be taxed at the difference between $27/share and for what you sold it. So, if you sold it now at $44/share, your taxable gain would be the # of shares you sold x 17 (44 minus 27). But, you would also be paying taxes on the original dividend.
Long story short, it appears that all your BHVN shares are taxable......the 2018 dividend now and the profit on the shares above $27/share when sold.
If you can punch some holes in what I've written, please do. But, the TDA 1099 makes it pretty explicit.....the BHVN distribution is all taxable.
Portage is now a subsidiary of Salva RX?https://www.google.com/search?rlz=1C1CHBF_enUS708US708&q=salvarx+stock&sa=X&ved=2ahUKEwiii66qg8ngAhUshuAKHQm7A9cQ1QIoBnoECAQQBw&biw=1920&bih=937
Not quite sure what to make of this. Seems pretty odd, but it's probably a non-issue at this point. Has PTGEF not been trading recently on the CSE?
TORONTO, Feb. 8, 2019 /PRNewswire/ - (PBT.U: CSE, PTGEF: OTC Markets) – Portage Biotech Inc. ("Portage" or the "Company") wishes to announce that due to an oversight, closing of the SalvaRx Acquisition was completed prior to obtaining final CSE approval. The Company has been advised by CSE, however, that such approval is forthcoming and will be announced through the issuance of an Exchange Bulletin. It is anticipated the Exchange Bulletin will be published today for trading to resume on Monday, February 11. The final Form 2A will be posted prior to the resumption of trading.
Neither CSE nor its Market Regulator (as the term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this release.
If you’re looking for something on the cheap like this, check out CTDT. It could blow up soon 5-10x.
Just a thought folks.
Cheers
Lit a fire under broker and market makers got 20000 shares at average of
0.89,but couldnt get more.
ok i lit a fire under broker and got 10000 at .09 and 10000 at 0.87 Thats all i could get so far.
I did the same thing a couple weeks ago. Got filled when I raised my bid.
At limit order of .09
Correct Maui. My apologies, I meant to reply that to the post before yours. Good for everyone else to look at though.
Tex, I had read that article last week. But, except for so far this morning, there's been volume for the past 4 days. That's why I was curious regarding Goodspot's offer price. Of course, if it was a low bid, his offer wouldn't be accepted.
https://www.otcmarkets.com/stock/PTGEF/news/story?e&id=1272991
Read the news release. Trading may be halted at the moment.
At what price?
I have been trying to buy 20000 share blocks of PTGEF for 2 days, no luck.I wonder why?
Meanwhile, BHVN is now in the 41's due to some speculation regarding a possible buyout by AMGEN. PTGEF management did right by us with their dividend distribution of BHVN shares to PTGEF shareholders. Because of this very positive outcome, I maintain a lot of confidence in PTGEF management in their next endeavors.
I am very curious how things will proceed with PTGEF as 2019 moves forward.
We've had 5 zero volume days during the past couple of weeks. But, there were 182,000 shares traded on Tuesday, 614,000 shares traded yesterday and 242,000 shares traded so far today at 12:45 EST. Average volume is 61,000 shares.
I think this is a good sign. I wouldn't be at all surprised if the PPS begins moving up within the next week or two.
Lots of volume the past couple of days. This same thing has occurred in the past before a big run-up. I'm a bit surprised that we haven't gone northward earlier. I bought some more shares, too.
Thanks, Tex. Your information has been extremely helpful.
Switching subjects.....today is the annual shareholder meeting for PTGEF.
No, your basis in BHVN was determined when the shares were distributed. I believe it may have been the total value of ptgef’s holdings divided by however many shares were distributed in totality. Your purchase price of portage was irrelevant and only the number of ptgef shares you owned mattered.
Does the price you originally paid for PTGEF have anything to do with the new cost basis price of BHVN? Doesn't seem like it.
That’s what I was trying to reference previously. My basis/purchase price was like 26-27 and change.
I've since noticed that TD Ameritrade has inserted a purchase price of 26.64 for my BHVN shares given to me from PTGEF. Does anybody else here have that same 26.64 number? For tax purposes, that's a LOT better than a zero cost!!!
Tex, when I have my tax appointment at the end of February, I will talk to my tax guy regarding your theory. I'll make a copy and paste of your post and show it to him. It will be interesting to hear what he has to say.
I think the proposed RS was one of the reasons the price per share declined yesterday. Many of us have heard the same RS argument many times with other stocks, but I'll bring up the issue one more time.
Personally, I don't like the move at this time. Why? I think the chances of the PPS going from .10 to .60 are much better than going from 10 to 60. And, one of the difficulties of going from 10 to 60 after an RS is that the shorts get in the way of upward progress.
BUT, as I've mentioned previously, I do like the PTGEF management. Their work with BHVN speaks for itself. So, I will reluctantly give management my support in seeking the RS. Without the BHVN factor, I would strongly oppose the move at this time.
This is a very good point. I'm in B*VN as a result of my investment in PTGEF. I had assumed the cost basis was the value of the stock dividend. I guess I DO need to speak to a tax expert. ROFL. I plan on holding both these companies for awhile. Nice to see people posting again.
For anyone who hasn’t received their proxy, the key items to vote on are:
5. To approve the SalvaRx acquisition
6. To pass a resolution authorizing to consolidate (reverse split) shares at a ratio of up to 120:1
7. To authorize a name change of the company to reflect the stock consolidation.
I hold a small position here but am voting for all points and will more than likely purchase more. I think they’re proposing a RS to have a shot at uplisting off the OTC. That would be phenomenal news if it happens!
I got my proxy vote in the mail today.. I have been with this stock a long time and i see great things coming from this merger. Im behind the management team all the way.
I definitely am not a tax expert either, but I can’t see why a basis would be present otherwise. For “normal” stock transactions, it’s the amount invested divided by the shares bought to determine the pps basis, as you’re aware (apologies if that sounds demeaning, it isn’t intended that way). I think why a basis is present is due to the fact that portage gave 1 BHVN share per 22? PTGEF shares owned. On the date of the transaction, (I think) the broker determined the pps at the time of the “dividend” distribution and that became the basis.
I'm definitely no tax expert. But, isn't the basis what we paid for a stock? We have our original investment (basis) in PTGEF, but that's a separate entity from BHVN. Since we paid nothing for our BHVN shares, wouldn't we be taxed on the entire amount we sold? Anyway, I hope you're right and I'm wrong!
If I’m not mistaken, you’ll only be taxed on gains above your basis. When I got my bhvn shares, my basis was 27 bucks/share or something close. Your broker should be able to provide your basis for you if it isn’t shown on your portfolio interface.
The positive moves and news keep coming for this stock. News a couple days ago and the meeting in Jan. I really like PTGEF. And B*vn.
Well I am no tax expert, and I plan to hold as long as possible too. My thoughts on taxes are the same as yours...I expect the entire amount to be taxable.
It was a good day for PTGEF in its first day of trading in a long time. But, it wasn't a big surprise because the SalvaRX news these past months has been very positive. Just glad it's trading again.
I totally agree with you regarding the management team. They did very well for us with BHVN and I have kept all my BHVN shares. And, I added more PTGEF after the BHVN distribution.
Speaking of BHVN, do you know the tax consequences when I/we eventually sell our shares? Will the entire sale amount be taxable? My guess is definitely yes because there were no monies paid to acquire our shares. Any thoughts on this?
Nice. B*vn announced Phase 3 news and it made a nice move this week. One target has it at $65. All to say I really like the management team behind PTGEF.
TORONTO, Dec. 6, 2018 /PRNewswire/ - (PBT.U: CSE, PTGEF: OTC Markets) – Further to its news release of November 27, 2018, Portage Biotech Inc. ("Portage" or the "Company") is pleased to announce that its common shares will resume trading at the open on CSE tomorrow, December 7, 2018 with trading on OTC expected to resume shortly thereafter.
The mailing of shareholder meeting materials regarding the acquisition of SalvaRx Limited from SalvaRx Group plc has been completed. Copies of the meeting materials have been posted to SEDAR, the CSE website and Portage's corporate website.
Completion of the SalvaRx acquisition remains subject to shareholder and CSE approval.
------------------------------------------------------------------
Once again, I'm a bit confused with this release. It says that "OTC expected to resume shortly thereafter". Does this mean tomorrow (the 7th)? Or, a later date? Wish they would give an exact date. The "shortly thereafter" can be construed in different ways. But, I'm guessing that it will be tomorrow.....FINALLY.
Really curious as to what direction the shares will be headed. I think north.
Yes confusing. Since we can't trade it, I believe they meant "trading will resume after the meeting concludes."
TORONTO, Nov. 21, 2018 /PRNewswire/ - (PBT.U: CSE, PTGEF: OTC Markets) - Further to its news releases of August 28 and October 9, 2018, Portage Biotech Inc. ("Portage" or the "Company") is pleased to announce that it has set a shareholder's meeting date to approve the Company's proposed acquisition of SalvaRx Limited from SalvaRx Group plc.
The meeting is scheduled for January 8th, 2019 for shareholders of record as of November 23, 2018. Meeting materials will be distributed shortly after the record date in accordance with the Notice-and-Access provisions of National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer.
Trading in the shares of Portage is expected to resume on CSE shortly after the meeting materials have been posted.
Neither CSE nor its Market Regulator (as the term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements concerning future operations of Portage Biotech Inc. (the "Company"). All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and financial results may differ materially from any estimates and projections.
Cision View original content:http://www.prnewswire.com/news-releases/portage-announces-setting-of-meeting-date-to-approve-salvarx-acquisition-300754058.html
SOURCE Portage Biotech Inc.
TORONTO, Nov. 27, 2018 /PRNewswire/ - (PBT.U: CSE, PTGEF: OTC Markets) – Further to its news release of November 21, 2018, Portage Biotech Inc. ("Portage" or the "Company") is very pleased to announce that it has published and posted its shareholder meeting materials which provide information regarding the rationale and key business terms for the proposed acquisition of SalvaRx Limited ("SalvaRx") from SalvaRx Group plc ("Group") (SALV.L) (see the Company's news release of August 14, 2018). The shareholder meeting is scheduled for January 8th, 2019 for shareholders of record as of November 23, 2018. Trading of the shares of Portage on CSE is expected to resume shortly.
Group is concurrently publishing their meeting materials for a shareholder meeting (also to be held on January 8th, 2019) to approve the sale of SalvaRx to Portage. These materials may be found on their website (https://www.salvarx.io/investors/regulatory-news.html).
Since the initial announcement of the proposed purchase of SalvaRx on August 14, 2018, Intensity Therapeutics Inc. ("Intensity"), one of SalvaRx's portfolio assets, has announced that results from its Phase I clinical trial IT-01 were selected for presentation at two international meetings: the European Society of Medical Oncology (ESMO) 2018 Congress in Munich, Germany on October 23rd and the Society of Immunotherapy Conference (SITC) in Washington DC on November 8th. The preliminary data from their Phase 1/2 clinical study demonstrated that INT230-6, Intensity's novel lead product candidate designed for direct intratumoral injection, was well tolerated in patients with advanced solid tumors. In addition, preliminary efficacy data revealed that even at low doses, some anti-tumor effects were noted in injected tumors, as well as some evidence of immune activation as evidenced by biomarker changes in the blood and anti-tumor effects in distal, untreated tumors. These findings confirm the exciting data demonstrated in animal models.
Intensity also announced that its Series B financing covering the further buildout of its clinical program was completed at a 250% premium to SalvaRx's investment in Series A. Further details can be found at: https://intensitytherapeutics.com/media/#media-group-press-releases.
Intensity's product is the most advanced in the SalvaRx portfolio.
Should shareholders of Portage approve the acquisition of SalvaRx, the combined Portage/SalvaRx oncology portfolio will include 11 drugs in discovery and development.
SalvaRx's early phase products have been making progress towards clinical trials. This oncology franchise represents a key strategic decision to focus on an experienced team with deep domain expertise activating the immune system to fight cancer. In line with their experience in cancer immunotherapy and in anti-inflammatory therapeutics, Portage management are evaluating technologies an adjacent area on how the immune system can be regulated by the microbiome in the gut.
Diverse Oncology Pipeline (CNW Group/Portage Biotech Inc.)
Diverse Oncology Pipeline (CNW Group/Portage Biotech Inc.)
Portage, its management team, and its board of directors are confident that the acquisition of SalvaRx will solidify its strategic path forward. Like the success seen with Biohaven under Dr. Coric's leadership, Portage believes it has found an excellent team with the commercial and development expertise required to advance these novel technologies towards clinical proof of concept and to unlock the value behind these products.
Not that I've seen. Will post if I find anything
Just found this news about Portage halt. https://www.bloomberg.com/press-releases/2018-08-28/portage-provides-update-on-proposed-acquisition-of-salvarx
Followers
|
22
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
428
|
Created
|
10/15/05
|
Type
|
Free
|
Moderators |
Bontan Corporation Inc. is an international diversified natural resource company that operates and invests in major exploration prospects. Bontan currently has a 49% working interest in a gas exploration project in eastern Calcasieu Parish, Louisiana.
Through its wholly owned subsidiaries, Bontan seeks highly visible opportunities in countries around the globe with a history of natural resource production that offer exciting and attractive propositions. Bontan will seek to minimize risk by bringing in either joint venture, carried or working interest partners, depending on the size and scale of the project.
************************************************************************************************************************************************************
************************************************************************************************************************************************************
Headquarters:
For further information, please contact:
Kam Shah, CEO and CFO
416-929-1806.
Website: http://www.bontancorporation.com.
************************************************************************************************************************************************************
Share structure:
Auth.
Restr.
O/S.
Float
************************************************************************************************************************************************************
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |