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It's a zombie stock. The ticker stays live even when the company is gone.
You do realize that they filed for Chapter 7?
Nope. Wrong folk. I only wish it was true.
Total junk. 💩 Managed by 🤡.
https://www.marketscreener.com/quote/stock/OCUGEN-INC-19157135/news/OCUGEN-INC-Results-of-Operations-and-Financial-Condition-Notice-of-Delisting-or-Failure-to-Sati-43760568/
130 days to delisting. At $.37 and staying there all year. Can anyone think this is going to get to $1 by May?
And that is that. Bye to all.
What a scam. They shift ALL their assets to Healthtech Solution (HLTT) in a complicated deal that closed on January 31st. They have nothing. How can you reorganize under Chapter 11 when you have disposed off all your assets? Isn't that a fraudulent transfer? We need to oppose the bankruptcy reorganization.
Look at what he did to Nuron Biotech. Yes, raising money to pay themselves. Great use of investor financing, if you believe this is a rockstar team that is going to make it all happen.
$0.40 is not a floor .. we can break through that. Come on team, let's go for $0.30 next week. They are years and years away from commercialization of anything, and diverted all their funds from what might have been better opportunities to chase covid19 vaccines. Still are.
They need to be bought. Just not cheap enough yet.
40 cents! Free fall! Any one for $0.30? They have stopped their inhalation covid vaccine unless they get government approval. They got nothing.
😂 you are funny ..... $1 soon. What, the whole enterprise value?
So little interest that they could not get a quorum for a shareholder meeting.
A dollar? On what? Sink it to single digits! You know we can do this. You are just not trying.
He's not crashing the company. A new public offering below market price? Raising funds only for their salaries? What does that tell you? With years and years to any revenues, and with them desperately out shopping for a "partner" at any conference they can get in to, $0.40's looks like way overpriced stock.
There will need to be another round of financing at this burn rate, which will have to be another down round. Do the math. In abut 6 months they will need to do that at what price? $0.35? $0.30?
They are way past the deadline for NASDAQ notice of delisting. As soon as NASDAQ wakes up and gives that notice they have 180 days to fix that. a 1:10 reverse split on a PIPE, wipes out all of us.
A limbo stock. How low can it go?
Soon there will be no room for shorts ....
.40's are here! Free Falling!
Only two days left in the week. So, <0.10 will have to wait for next week.
You nailed it!
Hey, when you are raising money that does not go to anything that will generate earnings, you are doomed. And that is what this offering is about. General administration. Asking shareholders to just keep paying bloated paychecks and benefits of a management team that continues to underdeliver.
Can anyone spell 'Pink Sheets"?
0.40's next week?
Optimist!
Why? It's gone. Years and years from any revenues.
Already should have received the NASDAQ delisting notice.
And it is not as if Musunuri hasn't crashed and burned well funded companies before. Nuron Biotech?
New offering does not support any new product development. Just paying executive salaries and benefits.
Next offering has to be another down round.
Yeah, but he could not have gotten away with it without the full complicity of the Board. After all, they provided the governance and oversight, and supposedly represented the investors in this scam.
John Sorrentino, Michael Dey, Ron Barhorst.
Lock them up.
Under Rule 12g-1, the JOBS Act and the FAST Act, the thresholds for registration and termination of registration for a class of equity securities under Exchange Act Section 12(g) were raised. As a result of the statutory changes, an issuer that is not a bank, bank holding company or savings and loan holding company is required to register a class of equity securities under the Exchange Act if:
a. it has more than $10 million of total assets; and
b. the securities are “held of record” by either 2,000 persons, or 500 persons who are not accredited investors.
The JOBS Act also directed the Commission to revise the definition of “held of record” to exclude securities held by persons who received the securities under an “employee compensation plan” in transactions exempted from the registration requirements of Section 5 of the Securities Act of 1933 and to create a safe harbor that issuers can follow when making that determination.
This means he is claiming to have less than $10M in assets and he has less than 500 shareholders out there. This is a self-certification. I am “sure” it is accurate.
Can't possibly be 500 or more people out there holding shares or he would have committed securities fraud ... and what happened to all those assets that valued over $50M as late as June last year. Goodwill, intellectual property? I am sure that the accounting firm would have done everything to avoid a false assessment on how they were valued.
Time to pierce the corporate veil ....
An 11 or a 7?
He could always sell the public shell. He bought it from some entity that went the same way before.
That is what PRED has always been about. Taking from others for themselves. Always has been. Look at all the shareholders, investors, Jerry. Everyone has lost. The lawsuits.
This was not a large Pharma attack story, because Pred never had anything that threatened them.
The FDA made it clear that PRED and the other players in the stem cell field were developing drugs and they were all given a couple of years to go to the FDA and work out what they needed to do to get approved.
If Pred had done that then maybe they were a target.
Other stem cell players did that. Longeveron. And we are seeing many moving that technology forward.
The question is why Pred management or board never go the the FDA like many others and get buy in for an approval?
That seems like what killed them.
Unless they really had nothing.
Flush twice ...
I don't know either. I assume that there was some sort of settlement for it to go away like that.
Brad likes celebrities. And questionable endorsement claims.
https://www.slideshare.net/HindenburgResearch/20130520-maggiore-v-robinson-ceptazyme-et-al
And you were right!
Hindenberg? Prophetic!
Worth the read. Here's the link: https://hindenburgresearch.com/predictive-technology/
of 300M shares. The Board should all be sued. They are providing no corporate governance or oversight. How are they representing the shareholders?
Nice. Removes some uncertainty.
PRED might be a buy. Did they settle the Equitas suit?
No, they are not. Brad should be in stocks in a village square.
That's OK. Some fool bought PRED to sell it.
Woolly mammoths are a more viable market than stem cells. The FDA does not regulate woolly mammoths.
Anybody been keeping track of the lawsuits? I saw a while back that PRED was heading back to court with Equitas on a default judgment.
Might be easier to resuscitate a woolly mammoth than PRED. PRED has been dead longer and is not as well preserved!
Oh, yeah. Amazing. They got $150K in cash, and $35M in debt, and Brad is a great CEO? The Board should be sued. They have destroyed shareholder value.
Yup. Completely.
Progress on one lawsuit. For the plaintiff against PRED. Is Brad hearing footsteps yet?
15C2-11 has nothing to do with being exonerated. It is the process to get back in some sort of trading situation for the stock.
The SEC never exonerated PRED. The suspension was punishment for misleading shareholders on their covid19 antibody testing and to prevent them from bringing anymore immediate harm to those shareholders.
The Hindenburg statement was never investigated, and the sole rebuttal was a pathetic press release by Sorrentino.