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I don’t understand any of this anymore.
Why are they relying on Colorado law to exclude shareholders from their decision to effect yet another Reverse Split, when their business HQ is in Ft. Lauderdale, FL?
And why a 1:60, when they only just completed a 1:100? Does the company have NO financial value at all, that these accounting tricks are necessary?
Final comment: it is nauseating when CEO’s don’t reduce their own shares, but just stick it to everybody else.
They should have agreed to be delisted from the NASDAQ, until such time as organic growth earned them a chance to rejoin it. All the verbiage about increasing liquidity, blah blah blah, rings hollow when the are reducing the OS from 24 million to 39 thousands. What a farce! Does he read his own writing?!?
I thought SBFM got caught doing some fishy business with the the last RS and Warrants. Whey would the Nasdaq panel allow another RS vs. delisting SBFM now?
Looks like they will be doing yet another RS after all!!! This really hurts…
Are we om for another RS or can SBFM get back over $1 some other way (see below from the 8K today)?
The last time they did a RS and Warrants seemed a bit shady and the Nasdaq was "concerned" about how they did it.
Item 8.01. Other Events.
On June 28, 2024, Sunshine Biopharma, Inc. (the “Company”) received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”), informing the Company that the Nasdaq Hearings Panel has granted the Company’s request for an exception until August 26, 2024, to regain compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2).
More 🍿 🍿 🍿
🤔
😄
Shareholders post after many r s over a close tine frame
Could this go to dollarsss
Looks like a triple bottom holding for reverse
Up 0.07 maybe reversal ???????
Must be short covering day, taking gains….
Someone posted delist ??????
SBFM needs to unwind all the crap deals they did with Aegis to include giving them back their money and canceling 33 Million shares!
Then, they need to get something done with their drug development pipeline.
I know this is a pipedream, but seems to be the only way to fix their mess.
Friday (6/14/2024) is when SBFM had to respond (in writing) to Nasdaq about the additional listing concerns (aka additional deficiency) related to the "alternate cashless exercise" of the Series A Warrants." SBFM needed to present their views about this concern.
So, did they respond? If so, what was the response? Now we wait for a decision on delisting?
From the 6/7/24 8K filing: "The letter has no immediate effect on the listing of the Company’s common stock. The letter serves as a formal notification that the Nasdaq Hearings Panel (the “Panel”) will consider this matter in their decision regarding the Company’s continued listing on The Nasdaq Capital Market. In that regard, the letter states that the Company should present its views with respect to this additional deficiency to the Panel in writing no later than June 14, 2024."
Whas this a reseller , speculating
Thanks very much!
A similar thing was done in another stock I invested in; it is good to see NASDAQ’s view of such activity.
The Nasdaq concern is in the June 7th filing by SBFM (link below) in the first paragraph on page 2.
https://sunshinebiopharma.com/wp-content/uploads/SBFM_8K_20240607.pdf
Any link to that finding?
TIA
Pre delisting pump
Take the opportunity !
My guess is delisting
Company was either complicit in
Making such a ridiculous deal or incompetent
Any recourse against SBFM and/or Aegis given Nasdaq has concerns about what they did, or is the outcome just delisting?
Post RS price was $6.80
OS increased 33x
$6.80 / 33 = .206
Its higher than post RS when you factor in the dilution
So, do you think the dilution is priced in here?
$SBFM cashless warrants done
https://dilutiontracker.com/app/search/SBFM?a=ed4623
New float 33.63m
33x post RS OS 🤮 and company did not get a penny
Pathetic management…
Aegis was in a hurry to dump all there remaining cashless warrants before delisting
Fucken crooks…
“5/20/2024, 3:46:30 PM 19m os update, 14.7m cashless warrants remaining”
“As of June 11, 2024, all of the Series A Warrants issued by Sunshine Biopharma, Inc. on February 15, 2024, have been exercised.”
https://www.otcmarkets.com/filing/html?id=17613198&guid=8eQ-keuhhSNAB3h
SBFM is definitely acting like a penny stock and thus belongs back on the OTC after they give back the $18M+ they still have from the bad Aegis deals. Once they are back on the OTC, perhaps they can get back to at least 99 cents!
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SUNSHINE BIOPHARMA INC
ANTI CANCER DRUGS
ANTI CORONA VIRUS RESEARCH
SBFM Transfer Agent
Corporate Stock Transfer
3200 Cherry Creek Dr. South
Suite 430
Denver, CO 80209
(303) 282 - 4800 p
(303) 282 - 5800 f
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