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I dont think thats what its saying. Its saying the people that loaned the $744k are getting a demand loan which means they can demand repayment at any time, and to compensate they are offering them Warrants instead that they will have up to 2 years to exercise the option of making those warrants into common shares at a value of .05 cents no matter what the stock price is at the time they decide to exercise them. So if say the stock went up to .20 cents they could still take their shares at .05 cents and profit .15 cents if they sold them at .20 cents instantly (per share) The amount of shares they can get at .05 cents add up to the demand loan amount of 744k. So they either demand the money or take the shares depending on how the stock would be doing. This will hold off the current money they are in debt. What they do from this point on is the question to advance the Heart Sentry and possibly the stock. Sell it? maybe. But they must be trying to do something with it for the lenders to agree to the possible warrants as an option. Still a crap shoot as to what will happen.
just waiting to see what happens.
My only issue is having the free money to buy it right now. If I had more money to invest, I would retire and collect distributions, lol. Just have to sit on what i have and reinvest distributions that come in.
Contrary to what they want everyone to believe (media/liberal agenda) ET does not practice underhanded tactics. It is ran with good morals and standards, safety and environment in mind always. It is just a money making machine due to need/demand. They make more and more money every quarter no matter what these people try to do or say and I have all confidence in them to come out of this on top.
liberal stall tactics. Been ongoing for awhile now. they delay things but in the end the company hasn't done anything wrong. Same thing happened in Dakota. They practice safety more than anything and try to keep environment in mind. Replant trees and flowers even, where work was done. Some agendas just wont quit. The people protesting and filing lawsuits do illegal things. 2 of them arrested for trying to sabotage (explosives) the Dakota pipeline. But they care about the environment right? They also camped out delaying perfectly legal construction near the Indian reservations and made a complete mess leaving so much garbage the people that lived there finally had to complain and police had to force them to leave. Of course they didn't clean up. What you hear from the news is bogus most of the time and not at all how things really go. You don't hear what really goes on but the press only wants you to believe ET is a monster. A lot of money being made that they all want to get their hands on. Usually if you end up writing them a check, they go away eventually and don't care so much anymore. Just tired on the lopsided news anymore trying to push liberal agenda and usually for a profit.
Once the election 2020 is over and things get settled i see things going well for energy sector. Also remember oil price doesn't really affect ET directly even though the market seems to react like it does. ET is fee based and makes the same money per gallon that flows though it no matter what the price is. And the amount of usage continues to increase (demand) despite what the environmentalist want you to believe. It is a needed resource and will be needed a lot of years into the future. It is picking up, not slowing down. And other countries that ET is doing business with are also not doing away with it. People can say what they want, but its the people that drive the need. Faster transportation, consumer goods. I doubt most people would want to give up current lifestyles. Trucks still are the biggest source of you being able to get what you want at your fingertips whether at a store or via internet purchase. Energy sector and vehicles/planes are huge money and they cant just go away or we would collapse economically. Wasn't it the government under Obama that bailed out car giants few years back saying they were too big to fail? Why didn't hey just let them fail, save the money, and go Green then?
Lets look at a bigger picture. I have tracked it for a couple years. The stock has been between 12-15 dollar range for 1-2 years. It was down just under $12 last December, climbed back to over $15 then has sunk back down around $12 again. It seems to drop end of the year and then go back up when the new year starts. But overall it has been pretty steady within a $3 window for a couple years and easy distribution money way better than a bank. Long term I see it doing well and making some progress but they had to get a few things fixed with their numbers. They seem to have done that and things seem to be going in the right direction. Shorts and others are also playing the trade war fears, low oil prices, liberal democratic push for environmental issues and such, but i think they will be driven out soon. They have a big deal going with China and its been somewhat interfered with because of trade war tariffs. It should eventually get resolved and the liberal push for the environment will go by the wayside. some investors didn't like new purchase of Semgroup because they want to see less debt, but this wont hurt debt much and will help them achieve the goals with China and more cash flow. It will smooth out next year, IMO.
All stocks are giving a number identifier sort of like people get a social to identify them. They use the ticker symbols for ease of recognition for investors. Sometimes they will show the number possibly when something has occurred like when lex did a reverse split. Until they post the new ticker info that represents the change. Not sure what stock you refer to or what would be happening.
They add the D to show the stock had a reverse split for a limited time and is temporary. Reverting back to the original ticker is normal.
Sorry doc. was not reply to you but i have lukab blocked and accidently replied to your post.
Lukab needs to go find something better to do. You say the same thing every post. Why do you feel the need?
That would be one hell of a good time at the strip club! Think of the positives.
also the number on some of your accounts represents the new CUSIP for the stock until they update fully.
It is just submitting your current stock certificates to receive the new stock certificates. Most people don't personally get stock certs anymore, all digital or maybe handled by your investment manager. If you don't have the old certs, you probably wont have to do much of anything.
FYI if you haven't read this. Off the Canadian Stock Exchange.
Lexington Biosciences to Consolidate its Common Shares
VANCOUVER, British Columbia, April 25, 2019 -- Lexington Biosciences, Inc. (CSE: LNB) (OTCQB: LXGTF) (the
“Company” or “Lexington”) announces that effective at the opening of markets on April 26, 2019, the Company has
consolidated its outstanding common shares (the “Shares”) on the basis of one (1) post-consolidated Share for every ten (10)
pre-consolidated Shares held (the "Consolidation"). The new CUSIP number will be 529020406 and the new ISIN number will
be CA5290204067. The Company's name and stock symbol will remain unchanged following the Consolidation.
The Consolidation was approved by the Board of Directors of the Company passed effective March 29, 2019. No fractional
Shares will be issued under the Consolidation as fractional Shares will be rounded to the nearest whole number. The Company
currently has 37,853,401 Shares issued and outstanding and immediately following the Consolidation will have approximately
3,785,340 Shares issued and outstanding.
Letters of transmittal with respect to the Consolidation will be mailed shortly to all registered shareholders of the Company (the
“Shareholders”). All Shareholders who submit a duly completed letter of transmittal along with their respective share
certificate(s) representing the pre-consolidated Shares to the Company's transfer agent, AST Trust Company, will receive a
certificate representing the post-consolidated Shares.
The Company’s stock has been halted by the CSE due to a miscommunication regarding the CUSIP eligibility. The
Company’s shares will resume trading on a consolidated basis at the opening of the market on Friday April 26, 2019.
On Behalf of the Board,
“Eric Willis”
Eric Willis
CEO & Director
Also. This might just be the first. I have seen stocks reverse split multiple times eventually leaving you with hardly any shares. Doesn't matter much, if its worth 0 , doesn't matter how many shares you end up with. But if they do sell to someone, the less shares we all have the better for them.
The symbol change is common for reverse split. The D is added to show a reverse split has occurred. It may be removed at some point. Today was the official day of the split which is why it is halted. No one is really behind on symbol updates. Some just adjust it sooner. The process is normal. It just never good to have a reverse split of course. But again, we will have to see where it goes from here, if they can get anything done for those that are hanging on.
stock split does not raise them any money. The reason for it, there is a minimum trading price stocks need to stay above. Since they aren't staying above it they will dilute the stocks to bring the price back up above the minimum required as part of trying to even stay on the exchange. what the price does after will be the problem if it drops too low, they could split again. Hopefully will find a buying before that happens. My main worry is if they cant get funding to continue, who would even want to buy it outright plus pay the funding to FDA approval?
It will give you 1/10 of the shares you have and the price will go up 10x on the stock. So it its at .03 cents at the time, then it would jump to .30 cents. Of course then it can fall quickly from there. Anytime there is a stock split either direction, the value of your stock is the same at the moment on the split. Most likely the price will fall though since the news is grim.
I know we all want to see $. But it may just take more time. Hopefully they don't give up, or maybe at least sell it to someone who won't give up. The technology seems real to me and i don't see how you could just throw it in the trash and ignore that it's there.
I mean, just look at what happened to Boeing with the new plane that crashed. If the HS gets put in service and someone dies when the HS said they had a good endothelium score, it would be lights out. Investors may not want that possibility so it may take some work and more time to prove its accuracy to investors and the FDA. I think the only miscalculation on the part of Lex was how long it would take, how much it would cost, and how hard it would be to convince investors to take the chance. They now have to figure out how to prove to investors that a situation like Boeing won't occur.
https://ipo.lbl.gov/heartsentry_successstory/
Wanted to share this i found from 2017, for those that think this was a scam. The technology and a working prototype were created and proven over the 15 years. When Lexington bought it, they were just going to fine tune and prep for FDA approval. My guess is the problem lies with the FDA on wanting more than anticipated due to possible liability and then of course mass producing the units for sale leading to the lack of funds. If you believe in what Berkeley labs and the creators of the HS say, then we have a working technology, but liability can be a bitch. Possibly the FDA is making Lexington jump through unexpected hoops and possibly some investors are getting cold feet as well due to that. Just my opinion. But scam, I don't think so.
Visualizing Vascular Health
September 12, 2017 by ststorar
LBNL’s technology measures endothelial function to assess plaque buildup and atherosclerosis, outside a clinical setting, for better insight on heart disease risk.
Cardiovascular disease and stroke are the number one causes of death worldwide, according to the World Health Organization, and one in four deaths in the United States is attributed to heart disease. Early assessment and monitoring of blood vessel health to inform preventative care and lifestyle modification is an important step towards reducing risk. Research developed at Lawrence Berkeley National Laboratory (LBNL) will give patients a more complete view of the state of their blood vessels, potentially saving lives.
LBNL’s Jonathan Maltz and Thomas Budinger, funded by the DOE Office of Science, developed a device to evaluate arterial lining health to assess plaque buildup and atherosclerosis quickly and easily, outside a clinical setting. Routine blood pressure and cholesterol testing do not evaluate arterial lining health. Yet plaque deposits breaking away from inner artery walls, ultimately blocking blood flow downstream. Prior to this technology, plaque buildup and atherosclerosis – hardening of the arteries – could only be measured with expensive, time consuming, in-clinic ultrasound testing.
The LBNL researchers developed advanced prototype devices for clinical testing to prove the device’s superior sensitivity compared to ultrasound results. Over 130 studies have been performed at UCSF Cardiology, UCSF Pediatric Cardiology and Kaiser Permanente, and over 30,000 subjects are enrolled in the Health eHeart study for further endothelial function evaluation.
Startup Lexington Biosciences licensed the technology in 2015 with funding from Oxygen Capital Corporation. Lexington Biosciences will further refine the device, named the HeartSentry, and complete clinical testing before initiating the Food and Drug Administration (FDA) approval process for HeartSentry in the coming year.
I am just going by what I am seeing. If anyone else has other info let us know. There has been multiple times I see no trading logged or transactions on the sights i monitor. CSE, OTC, Market watch. Which looks like they halted trade. Nothing announced though. Also they are due for a quarterly report and a monthly update on the CSE and nothing has shown up.
It does also say they could extend the suspension longer rather than delist, up to maybe 9 months. If they are working toward resolving the issues.
This is from the CSE policy link: Looks like they are already in the halting phase. They could suspend them anytime for 3 months, then possibly delist them if they don't meet requirements.
POLICY 3
SUSPENSIONS AND INACTIVE ISSUERS
1. Listing Agreement
1.1 The Listing Agreement authorizes the Exchange or the Market Regulator to halt
and authorizes the Exchange to suspend trading in a Listed Issuer’s securities
without notice and at any time or to delist the securities of a Listed Issuer if the
Exchange or the Market Regulator, as the case may be, believes it is in the
public interest.
2. Halts
2.1 The Exchange or the Market Regulator can order a trading halt to allow for public
dissemination of material news pursuant to Policy 5.
3. Suspensions
3.1 The Exchange may without any prior notice suspend trading in a Listed Issuer’s
securities if, at any time, the Listed Issuer fails to meet any of the requirements
as set out in CSE Policies; or the Exchange considers it in the public interest to
do so.
3.2 (a) Subject to section 5.3 for Inactive Issuers, if a Listed Issuer which has had its
securities suspended pursuant to this Policy 3 or otherwise has, within 90 days
from the date of such suspension,
(i) cured the default or breach that gave rise to the suspension and
(ii) paid the reinstatement fee set out in fee schedule of the Exchange,
the Listed Issuer’s securities may resume trading.
(b) The Exchange will extend the period of suspension for an additional 90 days if
the Exchange is satisfied that the Listed Issuer has made progress towards curing
the default or breach that gave rise to the suspension.
3.3 Throughout the period during which a Listed Issuer’s securities are suspended,
the Exchange will not allow quotation or trading by Dealers in the securities of the
Listed Issuer; the Exchange website will indicate that the Issuer’s securities have
been suspended. Dealers may quote or trade the securities of the Listed Issuer
on other marketplaces or over-the-counter unless prohibited under securities
legislation or UMIR.
3.4 Throughout the period during which a Listed Issuer’s securities are suspended,
the Listed Issuer must continue to comply with all applicable Exchange
Requirements.
4. Delisting
4.1 Following a 90 day suspension the Exchange will, without any prior notice, delist
a Listed Issuer’s securities unless the period of suspension has been extended in
accordance with Section 3.2(b) of this Policy.
Looks like trading halted again. Still no quarterly report or monthly filing showing up.
Did anyone see why trading was delayed this morning? Looked like it was halted until after 11:00. Also haven't seen a quarterly report or monthly update that they normally would have out by now. Maybe that's why it was halted.
Or did someone back out and pull their funding they had promised. With the sudden change of direction maybe that is what occurred. Maybe they were promised certain things from Renmark that didn't come through.
My statements come from what they posted on record with the CSE is where i get it from. It doesn't make any sense that they all of a sudden need 4 million.
well their private placement was for 750,000. Why would you set that up for less than what was needed. They stated they had other money involved through insiders to help reach their goal. Here was their private placement from November. Below is both the monthly report and the private placement. They are saying this is the last stretch to FDA approval, why wouldn't they be asking for the needed funds to finish? They also state they were preparing for the marketing and maybe thats where more money comes into play. But to finish FDA it sounded like they needed the $750,000.
During the month of November, the Company focused on recruiting clinical trial
sites for its upcoming multi-center clinical study.
FORM 7 – MONTHLY PROGRESS REPORT
January 2015
Page 2
Additionally, in the month of November the Issuer continued its outreach activities
to eligible brokers and investment advisors in the United States and Canada in
support of its upcoming private placement financings.[color=red][/color]
2. Provide a general overview and discussion of the activities of management.
Management focused on fundraising activities in addition to support of its clinical
studies for clearance of the HeartSentry device by the US FDA. Additionally,
management is developing the commercialization and reimbursement strategy plans
for the company for HeartSentry market introduction. The Issuer is developing a
new and disruptive product for measuring endothelial function as a long-term
predictor of cardiovascular system health.
3. Describe and provide details of any new products or services d
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Lexington Biosciences, Inc.
Suite 1900, 1055 West Hastings Street
Vancouver, British Columbia, Canada V6E 2E9
Lexington Announces Q3 2018 Financial Results and Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA – November 29, 2018 - Lexington Biosciences, Inc. (CSE: LNB) (OTCQB: LXGTF) (the “Company” or “Lexington”) announces the release of the Company’s Condensed Consolidated Interim Financial Statements and the Management’s Discussion and Analysis for the three and nine month period ended September 30, 2018 and 2017 which are available for viewing at the Company’s website (www.lexingtonbiosciences.com) or on SEDAR(www.sedar.com).
The Company also announces that it intends to sell, by way of a non-brokered private placement up to 7.5 million units of the Company (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $750,000 (the “Offering”). Currently the Company has received an advance portion of these funds by the management team, Board of Directors and other insiders to be including in the financing.
Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant will be exercisable to buy one common share of the Company for a period of 36 months at a price of $0.15.
The Company intends to use the net proceeds of the Offering to advance the development of the Company’s HeartSentry measurement device, and for general working capital purposes. The Company may pay finder’s fees in connection with the Offering and it is anticipated that certain insiders of the Company will participate in the Offering.
The private placement was only looking to make $750,000 to get FDA approval and to market. Seems like a small amount in the overall scheme of things to just throw in the towel.
Did I mention, I cant see them giving up on all the time and money invested?
kind of repeating myself, but i just cant see them giving up on all this time and money invested.... hehe.
Also keep in mind, the recent private placement to secure funds needed for the final push to FDA approval was only a couple months long. They just might have to work harder and longer. I cant see them taking all this time and giving up on finding funding after a couple months. Quickest way to get the cash of course could end up being selling some or all of the technology but I cannot see them just giving up completely on all the time and money already invested.
If you go to thecse.com (the canadian stock exchange)and look up lex it seemed business as usual on their last monthly report which was done Feb 5th. Strange the turn around to Feb 14th when they stopped the private placement. I am wanting to see what their next monthly report says on March 5th.
https://webfiles.thecse.com/2019.02.11_Lexington_-_CSE_Form_7_-_Monthly_Progress_Report_for_January_2019.pdf?4nEDDvCJn8XVxrTTofMsu10LfFB4LGZk
basically a generic message response they are putting out while considering their options.
not exactly. here is what they sent me. asking for leads, not ideas.
Thanks for your inquiry. Yes you are correct, and at this time we are struggling with simply keeping the current business plan funded. We have not been able to attract sufficient venture capital to cover current G&A expenses let alone furthering clinical trials and product development. We have done extensive broker roadshows via Renmark for two years and have used other methods to identify sources of capital and to find investors willing to back the company. In our last fiscal year this amounted to dozens of presentations in cities all over Canada and the US that were attended by over 300 brokers. Over the last six months, insiders have loaned the company over $300,000 until proper financing could be put into place. The lack of outside investor interest is forcing us to look at any all options from selling the technology to pursuing joint ventures. If you have any leads for us to consider please do send them along.
Eric
my guess as was stated earlier by others, is now they look to sell it or find a joint partner.
I received the same exact generic email reply back.
I sent a message to them as well. I will see if i get the same response.