Sutura Inc. (fka SUTU)

[Renee]

SUTU revoked:

http://www.sec.gov/litigation/admin/2014/34-71357.pdf

[Renee]

SUTU SEC Suspension:

http://www.sec.gov/litigation/suspensions/2013/34-70350.pdf

Order:

http://www.sec.gov/litigation/suspensions/2013/34-70350-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2013/34-70351.pdf

[john wayne]

I amnot sure Abag - I cant remember if I even wound up playing this. Good luck with it.

[Abag]

Did this company merge with Noble Medical Technologies?

[john wayne]

Yep. Share holders can Hope for a dead cat bounce and thwn a R/M somewhere down the road .

[jagram]

Probably so. If I recall correctly without looking it up, the only thing they had going for them was the suture and Abbott was given the rights to use it in the settlement for no further recompense. The filing mentioned selling the company, but other than an OTCBB shell what's to buy? I sure don't see any assets. These folks are done in my opinion.

[john wayne]

Down 52% today. Looks like it's headed to triple zeros soon

[john wayne]

Down 52% today.

[jagram]

Unfortunately that is probably very true.

[john wayne]

Looks like it's gonna get worse before it gets better.

[jagram]

A tough market indeed. I saw this crap coming a couple of years ago, but I thought it would be Nov. last year. I think that is one of the reasons it is so bad now, something artificial, perhaps all the bad mortgages just delayed and exacerbated the problem.

[john wayne]

Yeah I read that too. But it didn't seem to say that bk was a certainty. Probable yes but these bk's sometimes drag out. Course it's a tough market to take a risk.

[jagram]

Just took a look myself. The only two times it had volume like that was in Dec. 2007 when the lawsuit was settled and then again in Feb. this year. That was a hell of a drop. I looked for reasons and found an 8K was filed 10/20/08 stating they doubted the business could be sustained beyond Dec. 2008. Might be good for flipping but more likely it has not seen the bottom yet. Too bad.

[john wayne]

not in but it seems to have steadied from yesterday's 96% drop

[jagram]

Wow, a blast from the past. Sorry, I have been out of this for a long time so I am not sure what is happening with thus company. Good luck if you are in it.

jagram

[john wayne]

Tough day here with the possible Bk. Any hope for a rebound?

[jagram]

You are right, it could have been any of several.

[FBS]

I meant the axe!!

[jagram]

It looks like the sellers have control at the moment. But that could also be just daytraders getting their money out. It is Friday after all even if it is early, but Monday is a holiday for many people.

[FBS]

They were jumpin around pretty fast, I'm not sure who's in control!!!

[jagram]

You are thinking exactly along the same lines I am. I expected a little stagger at .20, then possibly some late buying this afternoon. My L2 Market Depth stopped working correctly all of a sudden so I could not tell who was dropping the ask or bid.

[FBS]

Funny thing, looking @ the L2s there was no wall there it should have made .19 easy but the HDSN Big Bid just Dropped from .13 like poof, now HDSN is @.08, and still wants a massive amount!!!

[jagram]

I have been watching it since open this morning. It ran into that .15 wall, sold a few, and then the inevitable bid whacking started. Could be everyone is waiting now to see who breaks first, buyers or sellers. I looked for a reason for the early volume but could not find anything. Somebody was certainly determined to buy.

[FBS]

No one here yet, Well it's trying to move today!!!

[rstar]

09 x 10 2x avg volume...

[sayheydave]

Our lil ol' SUTU is alive and so is the pps!

[sayheydave]

SUTU...Form 8-k filed 12/17

17-Dec-2007

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligatio



Item 1.01. Entry into a Material Definitive Agreement
To the extent required by Item 1.01 of Form 8-K, the information contained in or incorporated by reference into Item 8.01 of this Current Report is hereby incorporated by reference into this Item 1.01.




Item 2.03. Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant To the extent required by Item 2.03 of Form 8-K, the information contained in or incorporated by reference into Item 8.01 of this Current Report is hereby incorporated by reference into this Item 2.03.




Item 8.01. Other Events
On December 12, 2007, the Registrant issued an unsecured Promissory Note in the principal amount of $100,000 (the "Note") to Pandora Select Partners, L.P., a British Virgin Islands limited partnership, an affiliate of Whitebox Advisors,
LLC. The form of the Note is filed as an exhibit to this Current Report and, upon such filing, is hereby incorporated by reference into this Item 8.01. The principal balance hereof shall bear a one-time interest charge of Two Thousand Dollars ($2000) (the "Interest Charge"). The principal and Interest Charge is due and payable on or before January 13, 2008. Registrant may prepay this Note at any time in its sole and absolute discretion; provided that the Interest Charge shall remain due and payable in full regardless of any such prepayment. Registrant has entered into prior debt and equity financings with affiliates of Whitebox Advisors, LLC (the "Prior Whitebox Financings") as disclosed by Registrant in its reports filed with the SEC under the Exchange Act.
Section 9 - Financial Statements and Exhibits




Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable

(b) Pro forma financial information.

Not applicable

Exhibit Index

[rstar]

nice! knew i should've grabbed some 05s though....

[sayheydave]

SUTU..bid .09 x .092 weeeeeeeeeeeeeeeeeeeeeeeeee!!!!!!

[rstar]

yup. i'm holding here too, perhaps adding if possible. ceo recently added $500k. about 6-8 million shares that don't look like they are being sold.

[sayheydave]

An otc/bb company (SUTU) is awarded a $23 million settlement from Abbott Lab, and the pps remains about the same as prior to the award....hmmmmmm I'll continue to hold cuz i luv a good mystery, lol....

[rstar]

bid building 10 (2) x 125 (1)

[rstar]

they can only slow this down for so long...
ameritrade still restricting online buying....

[rstar]

09 x 13

[rstar]

gapping .10 x .12 pm

[sayheydave]

Form 8-K for SUTURA, INC.


--------------------------------------------------------------------------------

4-Dec-2007

Entry into a Material Definitive Agreement, Other Events, Financial Statements and E



Item 1.01. Entry into a Material Definitive Agreement
To the extent required by Item 1.01 of Form 8-K, the information contained in or incorporated by reference into Item 8.01 of this Current Report is hereby incorporated by reference into this Item 1.01.




Item 8.01. Other Events
On December 3, 2007, the Registrant, Abbott Laboratories and Abbott Vascular Inc. entered into a Settlement, License and Release Agreement to settle and resolve that certain patent infringement lawsuit entitled Sutura, Inc. v. Abbott Laboratories and Perclose, Inc., Civil No. 2:06-CV-536 (TJW), brought in the United States District Court for the Eastern District of Texas. The Settlement, License and Release Agreement is filed as an exhibit to this Current Report and, upon such filing, is hereby incorporated by reference into this Item 8.01.
The Settlement License and Release Agreement provides, among other things, for a cross license of certain patents between the parties and a one time payment by Abbot Laboratories to Registrant in the amount of $23.0 million.
Section 9 - Financial Statements and Exhibits




Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable

(b) Pro forma financial information.

Not applicable

Exhibit Index
(c) Exhibits.

10.1 Settlement License and Release Agreement, dated November 21, 2007.

99.1 Press release.

[sayheydave]

Dec 4 (Reuters) - Medical device company Sutura Inc (SUTU.OB: Quote, Profile, Research) said it settled a patent infringement lawsuit with Abbott Laboratories Inc (ABT.N: Quote, Profile, Research) and will receive $23 million under the agreement.

The settlement provides for a cross license of the Hathaway patents licensed to Abbott by Indiana University, and the Sutura Nobles patents, it said in a statement. (Reporting by Anant Vijay Kala in Bangalore; Editing by Amitha Rajan)

[uw86]

it looks to me that amount is what the company had in debt

[sayheydave]

G'morning Renee! Got really excited when i read the latest Reuter's story...looks pretty darn legit...hope you post any new findings and/or share structure...currently we're looking at a 150m float? TIA...

[Renee]

Hi , SayheyDave . Considering a buy-in this morning . Nice to see recognizable people on this board , like Legalegal and you fer instance .

Gotta read as much as I can on SUTU in 45 minutes .....a good thing I'm a speed reader , LOL .

Renee

[sayheydave]

SUTU has the internal infrastructure of a NYSE/Nasdaz company more than a OTCBB company...kinda getting excited here...looks like quite a bargain below 10 cents...

[kev123]

what do you think we will be tading at tomorrow?? this company looks really good today, ya knoe, with 23 million on the wayh

[kev123]

this stock is going to go throyugh the roof. What the ceiling if there is one.?? This is a weird situation..what do you think

[THE--EAGLE]

Info about management:

KEY EMPLOYEE BIOGRAPHIES

David Teckman
Job Title: President, Chief Executive Officer and Director
Board Level: Executive Board
Since: 2006
Age: 50
Mr. Teckman is the President and the Chief Executive Officer of Sutura since September 2006. He has served as a member of the Board since May 2006. Previously, he was the Director of Minneapolis-based Whitebox Advisors, LLC, a hedge fund headquartered in Minneapolis, Minnesota. Prior to that, he served as the President and the Chief Executive Officer of Vivius, Inc. from 2000 to 2005. Prior to Vivius, he served as the President of Disc Systems Inc., an ambulatory health care software and information technologies company from 1997 to 1999. Presently, he is the Chairman of Mendota Healthcare and also a member of the Board of Visitors for the Pharmacy School at the University of Maryland.
Anthony Nobles, Ph.D.
Job Title: Chief Science Officer and Chairman
Board Level: Executive Board
Since: 2006
Age: 42
Dr. Nobles is the Chief Science Officer and the Chairman of Sutura since September 2006. Prior to joining Sutura, he served as the Chief Executive Officer, the President and the Chairman of the company since the consummation of the merger of the company with Sutura, Inc. Additionally, he served as the President and the Chief Executive Officer since the inception of Prior Sutura until the completion of the merger, except for a brief period from January 2000 to October 2001 during which he was the Chief Technology Officer. In addition, he founded other medical device companies with Mr. Ratering, for which he serves as an Officer and a Director.

Richard Bjorkman
Job Title: Chief Financial Officer and Vice President, Finance and Director
Board Level: Executive Board
Since: 2006
Age: 57
Mr. Bjorkman is the Chief Financial Officer and the Vice President, Finance and a Director of Sutura since September 2006. Previously, he was an independent contractor providing Chief Financial Officer Services to venture backed start up companies and to companies in turn-around situations. Prior to that, he served as the Chief Financial Officer for Indicast.com from 2001 to 2002. Prior to Indicast, he served as the Chief Financial Officer of SmithMicro Software, Inc., a developer of eCommerce software, communication software and provider of professional consulting services. Additionally, he is the former President of the Financial Executives International (FEI) Orange County California chapter.

Egbert Ratering
Job Title: Executive Vice President and Director
Board Level: Executive Board
Age: 58
Mr. Ratering is the Executive Vice President and a Director of Sutura. Previously, he served as the Chief Financial Officer, Executive Vice President and a Director of the company since the consummation of the merger of the company and Prior Sutura in August 2005. Additionally, he co-founded Prior Sutura in 1996 with Mr. Nobles. He served as a Director of Prior Sutura and as the Executive Vice President and the Managing Director of Prior Sutura’s European subsidiaries. He also served as Prior Sutura’s Chief Financial Officer from January 2003 until completion of the merger. In addition, he founded other medical device start-up companies with Mr. Nobles, for which he serves as an Officer and Director. Prior to co-founding Prior Sutura, he was employed by Cordis Corporation, a Johnson & Johnson company from 1976 to 1996 and was responsible for worldwide manufacturing for Cordis from 1995 to 1996.

[THE--EAGLE]

Info about the company:

Bussines discription:

Sutura is a medical device company which develops innovative, minimally invasive vascular suturing devices to suture vascular structures during open surgery and catheter-based procedures.
The company has four wholly owned subsidiaries namely, Technology Visions, Inc., Sutura BV, Sutura SARL, and Sutura GmbH which develop and provide vascular suturing devices.
The company operates through a single reportable business segment, namely, the design and development of suture devices.
The company’s SuperStitch line of products is used in cardiovascular and vascular procedures that require a puncture or incision to the artery. These products are designed for use with or without an access device (e.g., trocar, sheath, or cannula) depending on the endoscopic technique, for use during minimally invasive surgical procedures, fluoroscopically-guided procedures, or in an open setting. Currently, the products offered include F5 Superstitch, F8 and F6 Superstitch, Superstitch Guidewire, F12 and F18 Superstitch, Superstitch ASD and Superstitch PFO.
Further, Sutura currently manufactures, assembles, tests and packages its SuperStitch products at its facility in Fountain Valley, California. This manufacturing facility is registered with the FDA-QSR (Food and Drug Administration — Quality Systems Regulations) and an ISO (International Standards Organization) certified company. Sales offices of the company are leased in Amsterdam, the Netherlands and La Gaude, France to support sales and marketing efforts in Europe.
Sutura’s products are marketed to physicians for open surgical intervention and fluoroscopically guided procedures. The company is selling its products in the European market through its direct sales operation in France and its distribution partners in Italy, Spain Switzerland and Austria. It distributes its products through an exclusive relationship with Getz Bros. & Co. Inc. in Korea, Japan and the rest of Asia. Recently, the company entered into an exclusive distribution agreement with The Lifemed Group Inc. to distribute its products in Canada.
The company spent $0.54 million accounting to 85.7% of its net sales towards its research and development activities during the fiscal year 2006.
The company classifies its geographic markets into two regions namely, Sales U.S. and Sales Exports. The Sales U.S. accounted for 44.6% of the total revenues of the company for the fiscal year 2006, followed by Sales Exports (55.4%).

MAJOR PRODUCTS AND SERVICES
Sutura is a medical device company which develops innovative, minimally invasive vascular suturing devices to suture vascular structures during open surgery and catheter-based procedures. The company’s key products include the following:

Products:
F5 Superstitch
F8 and F6 Superstitch
Superstitch Gudewire
F12 and F18 SUperstitch
Superstitch ASD and Superstitch PFO
Kwiknot

Brands:
Sutura
Superstitch
Kwiknot

galegroup.com

[jagram]

Yahoo shows O/S 271.23 M
Float 150.25 M
Insiders 53.82%

Pinksheets: same O/S

[secretlilazn]

can someone tell me the share structure? TIA

[THE--EAGLE]

8K is out, not sure if it was filed before 4pm or after.
and the stock is up AH 30%, 20k volume.

[Stock Stallion]

you can't buy them premarket, but u can put in your order premarket so that it is in the system and you are first in the line up on the open.

[macmacmacmacmac123]

Can you please tell me which broker allows you to buy penny stocks premarket? TIA and appreciated