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I didn't buy this scam at 0.02 last year, I'm sure not buying it now. What's up with all the personal attacks and foul language? You're upset because your dream of becoming a millionaire via investing into this penny stock was just broken by harsh reality? lol
I didn't ask any questions. I've just provided facts and language from their SEC filings. To which you just responded with some nonsense, including personal attacks and some remarks about NWBO (which I don't get how that is relevant here, I thought we were discussing Mymetics). I don't have any questions, everything is pretty clear here for me.
First off, it's not 60 million. Almost half of it is accrued interest. The convertible notes themselves are about 35-40 million (USD), give or take. That's the whole point - they are not going to convert their debt into equity (if the technology works). There is just no point in doing it. If the technology is successful they will just call the notes (request repayment of debt) - Mymetics won't have funds to repay it and will have to default. Round will get the collateral, which is all Mymetics' assets, including IP. Alright, I'm off to lunch. Good luck with your investment.
Simple phone call to whom? Round? They sure will tell you the truth. They will be like "yeah man, listen... if the technology is successful we are just going to bankrupt the company and grab all of its assets. And all those dummies holding MYMX shares, including you my man, will get nothing. But don't you worry about it, everything is going to work out, life goes on." lol
They sure can wait out for the full pay day. It will be THEIR payday though, not a payday for MYMX shareholders. Alright, I'm tired of you guys. Will revisit this board in a year. If this company (which is really just a shell) still exists by then.
lol. You know for a fact, sure. I've provided facts and language from their SEC filing to support my point of view. And you provided what? Exactly, nothing. Prove me wrong if you can.
I'm fully prepared for that. It's only 2% of my portfolio.
At least NWBO has rights to its IP, and if phase III is successful the pps will shot through the roof.
While MYMX doesn't technically have rights to its IP. And MYMX shareholders will get nothing regardless if the company successful or not.
I don't think you get my point...
Which is: let's imagine Mymetics' technology and vaccines are really worth millions. The problem is MYMX shareholders will get zero, zip, zilch, nada... It will be Round who will reap all the fruits because they hold claims to all the Mymetics' IP. If the technology is successful they will just default Mymetics and get all of its assets. Shareholders will get nothing.
You do understand that the company technically doesn't own any of its assets or IP, right? Because it's technically owned by Round Enterprises Ltd. because they can call their notes any time, which will result in default. Then they will (language from 10-K) "seek to enforce security interests in the collateral securing the indebtedness, which includes substantially all of our assets, including our intellectual property".
NWBO is doing just fine, thanks for asking. They haven't released the results of their phase III yet. I'm still holding and didn't loose any money on it. The risk/reward profile and fundamentals are better than MYMX, that's for sure...
They don't have 96 million in debt. 96M is the retained deficit
, which is all their losses accumulated over time. That's irrelevant here. Their liabilities are only 1,405K.
I do need to look into the features of their preferred shares more though... Something doesn't add up here.
I get that the maturity date of the convertible notes is prolonged automatically for periods of three months until called for repayment. But that doesn't make them long-term debt. They can be called any time.
The company still has 30 million euros in short-term principal outstanding, 20 million euros in accrued interest, and no means whatsoever to repay this. That's why it's technically insolvent. Unless the notes are converted. Which will result in the issuance of 400 million shares of common stock.
Straight from the 10-K: Two of our major shareholders, Round Enterprises and Eardley Holding, have been issued secured convertible notes, short term convertible notes and short term promissory notes, which have a total carrying amount of E50,041, including currently due interest. Under the terms of the convertible notes both Round Enterprises and Eardley Holding have the right to demand repayment at the end of the quarter following the repayment request of those convertible notes and exercise their rights as secured creditors under the terms of these notes, and we are required to repay the other notes unless Round Enterprises and Eardley Holding elect to convert the notes.
Now show me where it says “long term” here, would you?
Pipeline? Almost all of their pipeline projects are on hold. IP? They don’t have anything listed under “intangible assets”, so no, nice try though.
Grant revenues? 486K in euros YTD? That’s just laughable. Operations consume about 600K of cash every quarter, and they only had 843K on balance sheet
If I’m wrong, then their financials must be wrong, too, because that’s what they reflect - no assets (just goodwill and 1 million of cash that they probably already burned through), no revenues, and 61 million in short-term debt.
The company is insolvent. It has 62 million in short-term debt and no means to repay it.
It won’t go anywhere. It’s already overvalued at 0.05 with market cap equal to 80 times annual revenues. And considering the speed they are diluting at this will be 0.01 stock by mid-2019. If it still exists then. Mark my words.
Man, people are delusional...
The company sells coffee and tea. Period. It's not a cannabis stock.
$0.5 pps would put this company at $250 million market cap. Just think about this for a minute. That's over 800 times its annual revenues of $300K. A somewhat normal valuation for a fast-growing nano-cap company is 20-30 times annual revenues. Maybe 50 if it is in a hot industry. But not 800!
Even if all of a sudden everyone switches away from Starbucks and starts drinking hemp coffee and tea, even then this company will never achieve revenues to justify $0.5 or even $0.1 valuation. Because there are no barriers to entry! If there's demand for these products big players will enter and start producing this stuff and selling it at a better price (economies of scale) than a mom-an-pop shop with virtually no assets, less than 10 employees and 30-something year old CEO.
Wake up, people...
Not sure what you’re trying to imply here regarding cost of living and taxes. The average household income in Canada is about 80k in Canadian dollars. That’s about 60k in USD - on par with U.S. average household income. However, their income taxes are higher (lower income tax brackets are taxed at about the same rate while higher tax brackets have higher rates than in the U.S.). House prices on average are higher in Canada.
Meaning your average Canadian Joe has substantially LESS disposable income than his U.S. counterpart.
Someone please enlighten me: how come the company’s market cap is only 26million when they have 26million in cash... The company is essentially priced at its book value with market valuing their technology at zero?
1) No PP&E; how do they produce stuff?
2) Upon my more detailed examination, the cash in Q2 seems to be from the issuance of preferred stock. Would love to know the details about its features - dividends, convertibility etc.
3) Cash flow statement shows changes in inventories but the inventory balances at Q1 and Q2 were zero.
4) Operations consumed 66k of cash in Q2. At this pace they’ll be out of cash by the end of the year. How do they plan to address the working capital needs?
5) What exactly is 181k of other long-term liabilities?
To be fair, I emailed VATE’s IR and received a response within 10min. Pretty impressive, actually. Considering it’s Friday afternoon.... Took me literally months to receive responses from the likes of SGYP, ADMP, etc. regardless of what the question was... So, I may shoot them an email this weekend asking a few questions that I have on their financials. Maybe they do have some plausible explanations...
Likewise. Thanks for the quick excursion into the world of OTC message boards.
Just FYI - The only CPA responsible for that scandal was their CFO who is currently still serving his sentence, I believe. It was his idea to use improper revenue recognition policies, accounting for derivatives and variable interest entities. Others down the corporate ladder were just doing what he told them to do. So, no, unfortunately for you, as much as you wish that I was some schmuck, I am not. I actually prepare financial statements for a public company with over 1B in annual revenues. And I know what financial statements are supposed to look like. Free advice - find another lottery ticket.
I was talking about PP&E. That 125k you are referring to is just cash inflow from financing activities. They are still showing no other assets. It’s actually pretty funny how they show changes in inventory on the cash flow statement, although their inventory balances as of the end of Q1 and Q2 were zero.
Whatever... you guys just a bunch of clowns unwilling to pull your heads out of your arses... But gl to you anyway. You’re going to need it.
Not my first OTC, but the first OTC that I looked into that has no assets. Riddle me this: how do they produce the stuff they sell? Out of thin air?
We’re not talking about Tilray here. Tilray, however, does have 40 million worth of property, plant and equipment on its books. And cash enough to cover at least a quarter worth of operating expenses.
You are right, being a CPA and MBA doesn’t make make me a great trader. It does, however, makes me a better investor.
I don’t need to know anything else about a company that has no assets. I bet your assets are worth more than 16k. But somehow you are not worth 18million, are you?
I’m done with this conversation.
Well, do you have anything relevant to say rather than attacking me personally? Yes, I had troubles finding it because a normal company typically posts its financials or link to them in the IR section of their website.
I’m a CPA and MBA and these financials scream “SCAM!” to me.
But, as I said, good luck with your investment. It’s your money.
Never mind, found it on OTC markets. You must be kidding me...
18 million dollars market cap for a company that has 16 thousand dollars in assets and 150k in annual revenue...
LMAO
So, has anyone actually seen these audited financials? The press release says the company posted them, but there’s nothing on their website.
Am I the only one who is worried that mOS is not the primary endpoint of this trial? What if PFS fails? Can it still be approved based on the mOS data alone?
I’ll have access to a Bloomberg terminal in about an hour, will see if I can confirm the data. Do I just type the ticker in or is there a certain function?
$5 is not pure speculation. It’s based on addressable market and cost of treatment. 5$ is actually pretty conservative.
So, this data is incorrect then?
http://otcshortreport.com/company/NWBO
What’s interesting is % of volume shorted substantially increased. From about 45% last week to 65-70% this week.
I.e. out of the daily volume of about 2M shares 1.4M is short selling and only 600K are buys.
My bad, 200k/year, not 250k:
“income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year”
You need to be an accredited investor. Meaning net worth of over 1 million (excluding primary residence) or income of 250k/year. A lot of people won’t qualify...
Page S-7 of the 485. I need help interpreting this. Can they or can they not vote on the share limit increase? First it says “shall not be entitled to vote” on any matter for which common are voting as a separate class, but then in the last sentence it says preferred and common vote as a single class, so I guess they can?
Voting Rights and Transferability
On any matter presented to the stockholders of the Company for their action at any meeting of stockholders of the Company (or by written consent of stockholders in lieu of a meeting), each holder shall be entitled to cast 10 votes for each Series A Preferred Stock share held by such holder as of the record date for determining stockholders entitled to vote on such matter. Notwithstanding the foregoing, holders shall not be entitled to vote shares of Series A Preferred Stock on any matter for which the holders of Common Stock are then entitled to vote as a separate class pursuant to Section 242(b)(2) of the Delaware General Corporation Law (including any amendment to the Certificate of Incorporation to increase or decrease the authorized number of shares of Common Stock unless the class vote on such matter has been eliminated pursuant to the Certificate of Incorporation). Except as otherwise required by law or other provisions of the Certificate of Incorporation or the Series A Certificate of Designations, holders of shares of Series A Preferred Stock shall vote together with the holders of Common Stock as a single class (together with any other capital stock entitled to vote thereon) and shall be entitled to notice of any stockholders’ meeting in accordance with the bylaws of the Company as in effect from time to time.
When/where is the annual meeting?
Interesting point of view.
Sure, she is not buying stock, I.e. she is not exchanging cash for stock. She is exchanging AP for stock. AP is not debt. Both AP and cash are very liquid financial instruments due to their relatively short term nature. They are both stated at cost on the balance sheet because its cost approximates its fair value. So, I would argue that whether she’s exchanging cash for stock or AP for stock doesn’t change the nature of the deal. In the end, the company controlled by her still ends up with 160 million of NWBO shares.
You may be absolutely right that the deal was triggered by the need to settle AP, and not by some insider knowledge. We don’t know for sure. However, what seems particularly shady to me is that this “immediate need” was not so immediate 3, 6 or 9 months ago. For some reason, this need became immediate right now, when the data is likely frozen and the trial results are about to be announced.
I hear you. But she is not a third party and this fact changes the entire picture. My point is:
The real question here is: was she aware of any material non-public information at the time of the deal? Because if she knew something or had access to some data that indicate with reasonable certainty that the trial is a success, then she definitely was not acting in the best interests of NWBO shareholders and, thus,breached her fiduciary duty because she knew that the fair value of those shares would increase dramatically in a few weeks/months.