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I have had this situation before too. It depends on which market maker the orders were channeled through (you and your mother probably had different market makers despite being entered by the same brokerage firm) and/or if there were any restrictions such as 'all or nothing'.
John and TomSawyer, thank you. What is a "bucket"?
That doesn't answer the question where do the shares come from. Are they 'Alien' shares?
But there is no bid.
Hi Puppy, if one assumes there are no naked shorts and there remains no bid, where do the sold shares come from? Inventory? If legitimate, shares have to come from somewhere, right? I don't think marketmakers have inventory, so, again, where do sold shares come from? Thank you.
Hi Folks, I have returned to this board after a long hiatus. It has taken a long time for FFGO to come to fruition, but if/when it does I will cash out at the long term capital gains rate. It would be great if it happens now during the market correction while many other stocks are at bargain prices.
I feel the science is very promising. My issue is with the capitalization. The common shareholder owns 40% of the company and the preferred owns the remaining 60%. It is obvious there will be further dilution to fund future operations. This will be at the common shareholder's expense. I therefore see further declines UNLESS there is news about the patent going through which would generate milestone payments. I am hoping the milestone payments are received before the dilution. It is my understanding the company needs to submit to the Patent office some info. The Patent office is waiting on the company, not the other way around. A patent attorney acquaintance informed me about this. After the submission by the company it will take at least 3 months to process.
Nine points to consider to vote YES
This was on another board:
Here are some of the differences between the last attempt at a reverse split and this time:
(1) New Chief Executive Officer. While he been a member of the previous management team, Anna apparently made the decisions. The Board realized they weren't in the best interest and took action to remove her.
(2) The guy is smart enough to make DIFFERENT decisions. i.e. Focusing the company on the two core technologies and dispensing with the other products at this time. Not so under the previous Administration.
(3) Powerful and intellectual additions to the Board and advisors in science, medicine, FDA regulation, and financing.
(4) Most spin-offs on Wall Street are exceedingly successful by unlocking inherent value, hence the reason for the spin-off.
(5) Generex and/or their current shareholders will still reap these benefits.
(6) Both companies will be pure plays making it easier for the Market to evaluate them independently.
(7) The company they are buying throws off FREE CASH FLOW and increased revenue 30% year over year in an environment where competitors folded.
(8) Free cash flow can partially fund operations and testing leading to LESS dilution over time, and, in a synergistic fashion, make the company more appealing as an acquisition for Big Pharma.
(9) Although a segment invests in penny stocks and some companies evolve into very successful ventures, most of Wall Street abhors penny stocks. We need to consolidate the share structure to gain credibility, obtain analyst research and reporting, and more favorable financing.
Despite all the negativity on this board, there are many shareholders not as vocal who see a new promise and make the distinction between the past, the present, and what the future may hold. It is time to rally behind the new Administration with support. Perhaps they figured it out this time although they are up against anti-RV proponents who vividly remember the past and can't envision 'What if they are RIGHT?'
"After talking to some diabetics though they said it is too expensive to take all the time."
Er, not quite. The trial hasn't concluded yet, the FDA hasn't evaluated the New Drug Application (NDA) yet, so the company itself doesn't know pricing yet. Pricing information is CERTAINLY not public as it is considered a trade secret until approval, so your information is not accurate, ...however well intended.
Patients in the Investigational New Drug (IND) program have to pay for the drug themselves at $25/canister. This price is set by the FDA, not the company. The absorption rate while less than needles, is nearly on parity.
When healthy people eat there is an immediate release of insulin to begin the digestive process. Diabetics' insulin release is faulty. The insulin has to do its job then dissipate. Oral-Lyn replaces the missing insulin at meal time and has a short tail, meaning it leaves when it is suppose to. Hope this helps.
I made money off of your TDCP recommendation on the ILNS board and expect to make more. It was a great suggestion and appreciated. I was trying to return the favor with GNBT when I metioned it to you on Friday. Friday it opened at $0.26 and closed today at $0.31. +19.23%. Thanks again for TDCP. One hand washes the other; it is good to share.
ILRI: I did the same thing, I sold today at a nice profit with the intent to buy back slightly lower to increase the number of shares. I will attempt to do this until I have a sufficient core holding. The risk is whether the secondary purchase can be executed. I look for a constriction in the Bollinger bands with a rising Fast Stochastic for a tip off when there will be a powerful rising wave. It happened today between 10:14 - 10:17 and 11:24 - 11:26 Wall Street Time (Eastern).
Note to EQ: Evidently I gave you a good call the other day as the issue I offered went up today nearly 10% on good volume. You should appreciate when someone shares their work; not everyone is nefarious. Anyhow, thank for introducing me to TDCP and good investing to you.
Welcome to the board. Here is the link from Yahoo Finance:
http://finance.yahoo.com/news/Generex-Provides-Further-prnews-244856910.html?x=0&.v=1
Elleryqueen, you both may be correct. I watched the video and then took a look at the chart for the last ten day...almost EXACTLY like the video, especially the last 5 or 6 days. The technology appears to be innovative so I am initially expecting profit takers followed by a consolidation period to catch a breath. The $0.077 appears to be the support to watch.
Thank you. A lot of people who invested in this issue don't have the temperament nor time horizon to stay the course. They lament, but should reexamine their original premise for investing/speculating in GNBT: Do diabetics want the product, does it work, will Oral-Lyn lead to greater compliance, will greater compliance bring down the cost of lifetime maintenance to the point where it makes economic sense for insurance companies to willingly pay for the device early on, since it is potentially a platform device will it become so ubiquitous that the public won't pay any attention to whether a person is taking a hit of insulin or any other drug administered in a similar manner?, etc. This stock has a history of drifting down then erupting on large volume. I love it when it is off the radar as it allows time to accumulate low price shares for those informed, willing to wait, and not faint of heart. I challenge anyone to show a single document indicating the device has any issues. The FDA apparently favors it too, witness the IND program.
I think it will be neutral with a positive bent for now until full Phase III results are released - then watch out! The market and diabetics are waiting for full Oral-Lyn enrollment and determination if the product works, period. Things to note:
(1)There has never been an adverse reaction in all the years of testing.
(2) The product uses existing insulin rather than a reformulated version so the drug doesn't have to be approved, only the delivery device.
(3) The competition, Mannkind (MNKD), had been 6 months ahead of GNBT but is now 15 - 24 months behind. The FDA required additional testing from MNKD to ascertain their second generation device was biocompatable with their original device. Unlike GNBT, MNKD uses a reformulated insulin.
(4) In SMALL tests it was observed Oral-Lyn doesn't produce antibodies like injections. If confirmed by larger studies, this is tremendous as diabetics who don't mind injections may have to convert to Oral-Lyn.
(5) Oral-Lyn was accepted for the FDA IND program which makes available drugs before formal approval for special groups of patients who have no other viable alternatives. This is the ONLY diabetic drug to enter the program and close to 100% of all drugs in this program eventually get approved. I would imagine that the FDA already looked at preliminary results to include Oral-Lyn in the program.
(6) The delivery device is a platform capable of delivering many different types of drugs. This is especially important for drugs going off patent as a new delivery for the drug would extent patent protection.
(7) The cancer vaccine appears to work.
(8) The US Army is testing the vaccine.
(9) Generex will probably need additional capital although a partnership would possibly be non-dillutive.
(10) The company has a bunch of really heavy hitters advising them. Why would they put their reputations behind this? They think this will work, help people, and make money. The bottom line is either it works or it doesn't.
I don't think there will be a reverse split any time soon. As stated in the February letter to shareholders regarding the Antisenilin patent:
"...which will trigger the milestone payments and greatly increase the royalties payable to Intellect when drugs based on its technology reach the market. We expect a decision from the USPTO on our ANTISENILIN(R) patent application within the next several months."
Look what happened last week when news was released about the other patent which, unlike the Antisenilin patent, did not trigger milestone payments. What will be the market reaction to 7 figures entering the company treasury?
Furthermore, regarding OX1 Phase I testing by i3,
"...We expect to receive data and a report from i3 during the next quarter.
So it appears there will be MARKET MOVING information released over the next few months. The company will wait until the price rises before issuing more stock, hence no RV.
NEWS RELEASED News conference scheduled for March 30 in New York City to discuss strategic plan. It will be open for the public to attend.
While I am long you are definitely correct about spammers with their BS. The so-called sources of info are liars and have had ZERO impact on the stock. What is the source of their supposed info...who is breaking the law releasing insider info? I wish people would stick to the facts: The drug is in Phase III testing; the technology is licensed out; Pfizer and J&J are doing the testing; there is a pending patent which will trigger milestone payments; the company is due mid single digit royalties if the product makes it to market; there are approximately 1.2 billion common shares; and the preferred own 60% of the company. Oh, and there are liars on this board. FACTS!
Note: The 1.2 billion common shares own just 40% of the company. The preferred shares own 60% of the company.
DTGROW: Thank you.
Why are some people talking about buyout? It doesn't make logical nor business sense. I would rather see the impending milestone payments, approval of the drug, then mid-single digit royalties going straight to the bottom line (since there is no cost of goods sold expense for ILNS), further testing of the next generation therapeutic, and licensing of that drug. What do you think the value would be then versus a sell-out now? No way the company is going to sell now. It would be a lack of fudiciary responsibility.
Also, why are some people crying that the stock came down with potential that is there? Assuming the original premise is correct that the company's technology will lead to breakthrough theraputics than the current price action is a blip on the screen and affords an opportunity to load the boat. The drug is in its final phase of testing, Phase III, and has Pfizer and J&J involved. The scientist at PFE and JNJ certainly know a bit about chemistry and biology and they are in. Obviously I am long.
I always remember what my father told me: he who laughs last...Laughs last.
He who laughs last didn't get the joke! :>)
Four points: (1) Milestone payments are now due the company and, to my knowledge, are never less than 7 figures. This would dramatically expand the capitalization of the stock, so I expect another pop. (2) Payment will probably be within the next few weeks. (3) The milestone payments will fund testing of their next generation drug which has yet to be licensed. (4) Short pension funds as there will be a lot of people living longer if Bapineuzumab gets approved.
Patent triggers milestone payments! Have you ever seen milestone payments that were not in the $ millions? On a current $3+ million capitalization the company will go up by at least a third with the first payment. What will your shares be worth?
Next resistance levels at $.0037, $.0038, $.0047. See the below link to barchart.com
http://www.barchart.com/cheatsheet.php?sym=ILNS
The implication of patent approval is significant milestone payments which in turn will fund the next generation OX1 testing. Now the Company can potentially further prove out OX1 before licensing it and garner additional royalties. I expect this to rise yet again once news of the milestone payments is made public.
Ten points as I see it:
(1) Generex has potentially two blockbuster technologies that could be paradigm shifts in both diabetes and cancer.
(2) Both are platform technologies that have other applications.
(3) OralLyn testing is near completion.
(4) There are no guarantees either technology will work but indications are they do.
(5) If either technology does work the company is worth 9 digits.
(6) If a company is on its way down then a reverse split signals disaster. However due to the aforementioned points, the opposite is the case here. Therefore, I am voting FOR the reverse split. If the technologies do in fact work then although there may be a momentary drop the benefits FAR outweigh the blip in price. The price will be propelled upward with testing success.
(7) The 51% buyout ensures a stronger position vis a vis partnerships as GNBT can now go it alone with ready infrastructure and can bargain harder.
(8) The purchased company is cash flow positive so money aka profits will fund future testing.
(9) GNBT is thinking not only science but monetizing the technologies.
(10) Management is thinking strategically, not just tactically.
News: WORCESTER, Mass., Oct. 8 /PRNewswire-FirstCall/ -- Generex Biotechnology Corporation (Nasdaq:GNBT - News) (www.generex.com) announced today that it plans to make a key material announcement on Monday, October 11th, 2010 before market open.
In addition to Monday's announcement, Generex senior management will address analysts' and shareholders' questions directly in two open conferences:
Tuesday, October 12, 2010, Generex will hold a conference call and webcast
She had the foresight to buy Antigen which may be a tremendous moneymaker for GNBT and got Oralyn into Phase III. Oh, and she cofounded the company...not too shaby.
There was press in vfcsstockhouse.bloghouse.com and barchart.com plus speculation what the Board will do.
News: WORCESTER, MA, Sept. 29 /PRNewswire-FirstCall/ - Generex Biotechnology Corporation (Nasdaq:GNBT - News), which is engaged in the research, development, and commercialization of drug delivery systems and technologies, today announced that its Board of Directors has appointed Mark Fletcher as Interim President and Chief Executive Officer effective immediately. The Board also appointed John P. Barratt, an independent director, to serve as Chairman of the Board.
Mr. Fletcher and Mr. Barratt succeed Anna E. Gluskin as Chief Executive Officer and President, and as Chairman, respectively. Ms. Gluskin continues as a director of the company. Mr. Fletcher has served as Generex's Executive Vice-President and General Counsel since joining the company in April 2003. Mr. Fletcher has practiced law since being admitted to the bar in Ontario, Canada, in 1991. Mr. Barratt has served on the Board since 2003, chairing the audit and compensation committees during this period of time.
In addition, the Board has appointed a special committee comprising its three independent directors. The special committee's responsibilities include immediately commencing a search to identify candidates to secure a permanent President and Chief Executive Officer.
"The directors recognize Ms. Gluskin's role as a co-founder of Generex and her contributions since becoming a director and President and CEO in 1997," said Mr. Barratt. "During the past 13 years, Generex has developed core technologies and products that we continue to believe will be the platform for future growth, profitability, and the creation of value for the company's shareholders.
"The Board has concluded, however, that Generex has reached a stage in its maturation where new senior management leadership is now needed for the company to capitalize more effectively on the opportunities that we believe are available to the company. We believe that a tighter focus on the company's core business is needed and we have determined that this can only be achieved under a new President and CEO," Mr. Barratt said.
"At the request of the Board, I have agreed to take on the responsibilities of President and CEO of Generex on an interim basis," said Mr. Fletcher. "I will work with the Board to develop and execute growth strategies that focus on our strengths. I intend to maintain the many important partnerships that we have forged internationally with respect to the development and commercialization of our drug delivery systems and technologies."
The world will still spin.
LOL, only the insiders know. No one on this board will have access to that info.
It means there won't be communication until something happens; no interim PRs.
Why is it exciting??? There won't be a PR person to answer any questions hence limited information going forward.
"3.,Should the USA return to a gold standard or gold backed monetary system as many are predicting it likely will cause the price of gold to continue to rise. (supply and demand)"
The US in not going back to the gold standard anytime soon. Interesting to speculate about but will not happen.
This is not a qualified dividend per the IRS so the 60 day rule doesn't apply. Look at their website IRS.gov to get their regulations directly from them. It probably falls under "liquifying dividend". Again, see the IRS regulations.
What you said was not accurate. The buyer is releasing the info to ITS shareholders tomorrow via a news release but BOTH companies are releasing 8Ks.
LAS VEGAS, NV--(Marketwire - 08/02/10) - Fortress Financial Group, Inc. (Pinksheets:FFGO - News) confirms that is has entered into a binding agreement to dispose of its remaining assets, namely its stockholding in two Gold Corporations, Bouse Gold, Inc. and South Copperstone, Inc. The Effective Sale and the Execution Dates of these agreements were required by the Purchaser to be on Thursday, August 12, 2010. On that date both the Purchaser and ourselves will each be filing a Form 8-K with the Sale and Purchase Agreements as exhibits. The Purchaser is a publicly traded corporation and will announce these transactions to its stockholders on August 12, 2010.
Why do you repeatedly ask the same questions? They addressed this in a previous 8K...as you know.