Greetings bellow BIELers! Long time BIEL holder here- since the first wave of BIEL in 2008. I used to post actively back then and put BIEL on the back burner when things did not work out back then. But even back then, I knew it was a winning product so I held my shares. I picked up some to lower by TCO over the years even though I was extremely disappointed in the lack of successful company management.

But since I believed that this company had potential, I only hoped it would survive until better management was implemented. I think now we are finally seeing this. I say this to underscore the fact that this rally and the sunnier horizon is real for the company.

Although this is my personal opinion, I can almost guarantee a future stock reverse split. I bring this up because the detractors will tell you that this is the kiss of death for the company. This could not be further from the truth! I have actually been through some reverse splits by companies that turned out just fine. And I made plenty of money after the reverse split to boot.

Here is my prediction- I believe that BIEL will be driven to great heights over the coming months/year. This will be due to much of the distribution agreements being solidified and successful financially. The company has already gotten a "no interest" commitment on its current loans. And we all know who owns the paper on those loans. I believe this was done in lieu of retiring shares.

For the reverse split to work, I think BIEL needs to reach .10. Then a 10 or 15:1 reverse split will be announced. After this and some consolidation a second reverse split will be announced in tandem with moving to major market.

This will work with continued good news, new OEM agreements, and a strong balance sheet. The Whelans will be behind this as they will keep their shares and maintain/increase the value as they jettison the excessive shares via the mechanism of the reverse split.

Again, I bring this up as a positive and I bring it up now because it will be rumored and used as a tactic to scare new shareholders.

The bloated share structure was due to mismanagement and survival over the last 12 years of mismanagement and seeking FDA approvals. Those days are behind us now. But we still need to clean up the share structure.

I have no idea what the multiple on earnings of the company will end up being, but right now, it looks like the company is poised to show profits which should continue to rise with execution of their agreements and new OEM agreements added.

I look forward to continued profits on my investment. I know many old BIEL longs should be green if they averaged down by now. So we can sit back and enjoy the show going forward.

Well, I definitely see a possibility of us owning a collection of trusts that might be serviced by WMIH as opposed to integrated into the company. I don't think anyone is sure how this will play out.

But I assert that the billions in value are coming back to us as marker holders.

And even in a scenario that we are serviced by WMIH- in this scenario, yes KKR and Fortress make a large chunk of change servicing the loans. But we still own the trusts. This would make more sense as opposed to dismantling the trusts and cashing out the trusts. They are money making devices.

If this were to happen and we essentially get markers in trusts, it might make more sense to let WMIH service the mortgage trusts. And if KKR and Fortress are making money off the trusts, so are we with our WMIH shares. We did get BOTH when we were given markers.

If that turns out to be the case- at some point, someone will offer to buy our trusts and that will be valuable as well. Who knows, maybe JPM will want to buy us out at that point. If the price is right, it would be a win/win even in that scenario.

Ok, I am glad you made this post:

Regarding how "ridiculous" the escrow theory of billions is:

Let me make an analogy for you and everyone here to consider. Say, there is a house and you own a part of the house which extends to the contents of the house. The house burns down but minutes before it burns down, just about everything was taken out of the house and spared. Except that, even though you owned a portion of the house and everything inside, you never actually lived in or visited this house.

Now, the people involved in "saving" the contents of the house may have had something to do with the fire. And it turns out that they don't want YOU to know just what was taken from the house. They hid the contents and pretty much said that there was not much at all in this house. And they implied that anything of value was sold in a fire sale but there were no receipts of such a sale.

Now those same people build a new house "fresh start". No debt for house2. But when you look inside house2, it is empty. Where is all the stuff that you owned before? So you think- Now I own a portion of house2 but I got receipts for the portion of house1 contents I own. Except my receipts have no valuations, just quantities.

What you are about to find out very soon is- the stuff inside HOUSE1 that you OWN a share in, was actually buried under HOUSE2. And when it is uncovered when we break through the wall in the basement of HOUSE2, you will find that we OWN the contents from HOUSE1.

House2 will be furnished with the contents of House1 and those receipts will contain a value times the amount of receipts you have. Every escrow holder will get their share of the contents which will pass through HOUSE2.

KKR does NOT have escrow markers. In exchange of helping launder all of this money, they were brought aboard to facilitate the mergerS going forward with the best matches available. THEY are riding OUR coattails! And they will be paid handsomely for thier efforts.

ERGO- The control of the stock price. WMIH has bought NSM at the nadir of their public value. They will control the stock price to increase the amount of cash buyouts that their share holders will choose. Every share that they don't give out in this deal is a win for the company and provides more value to WMIH stock with less dilution.

KKR would not be here and not have stayed here if they were not going to do what they do and get paid handsomely for it.

Even if NOLS are killed by another merger causing a CIC (if that has not been found later to have happened already), you are talking possibly 1% of the TOTAL VALUE to be revealed.

When you look at the big picture, it all makes MASSIVE SENSE! AZ has let out a piece of information- he has SEEN the numbers of the trusts.

Who owns the trusts? The original owners OR the guys who burned the house down? My money is literally on the equity owners.

I share that sentiment as well. And I sincerely hope so as I believe we will get shares in WMIH for our ownership of the trusts. Somehow this will be leveraged to inflate WMIH without changing ownership. This where the real Scooby Doo mystery is. And this is a point of debate among many of our esteemed researchers.

I just believe that they will somehow keep the value within or funneled to WMIH because entities like KKR do not have escrow markers. But they would benefit greatly if the company were inflated with the value of the trusts. And if it were big enough numbers for us, we would still be participating in the company's value and management of said assets and not pitch a fit. I am not even sure if we will have a choice. And I say that because, somehow, from corporate veil to legal lies, the true value has been hidden from US the OWNERS all this time. But the good news is they have to give us our portion of the value of those remote assets however it plays out. I don't see any way around it.

And thus, Hotmeat, I think you have just explained why they are holding the price at this point. To a retail share holder of NSM, it makes more sense to take the cash and, in doing so, leave more shares for the funds invested on that side.

If anything, that shows that THEY WANT WMIH SHARES in trade! Because they KNOW where this is headed.

More tactics from the WMIH PR MACHINE OF LIES.

PS- No reverse split coming. Just price suppression until they flush out the NSM weak hands.

Thoughts on the current state of affairs

Hello all,

I have a few thoughts and questions on the current state of affairs. First off, as AZ has stated, the WMIH PR Machine seems to be alive and kicking. It is very interesting to me that a bunch of supposed BP users have come here in addition to a bunch of new posters, all throwing out wildly different interpretations of what is going on and what will happen.

Reverse split: First, we had WMIH go OUT OF THEIR WAY to threaten a reverse split just to hang on the their NASDAQ status. All the while they were knee deep in the merger negotiations with NSM. I wish we could string them up for this. Legally it might be one thing but to me, it is bald face lying and obfuscation to the share holders. Obviously, they were trying to flush us out of our shares.

Now, in place of this, people are coming here and claiming that a R/S is necessary going forward and furthermore, is going to be beneficial to the future of WMIH. This being said, after we are on the road to a merger where we are merging with a company full of employees that would give us the staff to manage the mortgages in trust we believe exist in a bankruptsy remote state and safe harbor about to be lifted (and presumably value of said trusts to be revealed). These new "veterans of WAMU" and "experts" are casting doubt on the value of this deal and poor mouthing the value of the stock. At the very least the stock is worth $1.40 WITHOUT a trading multiple. What is the trading multiple of a loan origination company? Once this deal closes, the public will start trading this stock at a multiple of value based on performance.

Safe Harbored TRUSTS: I think we can safely say at this point that they most ceratinly exist. And if for no other reason than the constant attempt to make us feel they have no value, they have value. Most likely they have value akin to what some people have done lots of research to deduce! We may disagree or debate mechanisms of payout, or roll over or shares for value, but there is great value there. Also, one of the biggest points of confusion and contention is how or when these assets will be distributed and or in what form. I want to throw out there that somehow, these assets flow through the new company. I just don't see them dissolving the trusts per se. They are money making devices. Some may have matured but others are still functioning. It would make more sense for us to be owners of the management of these trusts in some way and benefit from the revenue. But would we get dividends or would we get past dividends from these trusts? And how would that work without dissolving the revenue machines? And for the matured ones that are cash, would it not make more sense for that cash to be put to work again for our benefit? What would be the mechanism of such is a definite point of confusion. But, they have a plan! And I don't see how we are not part of this plan! So for those poor mouthing this deal, let's get serious.

Merger with NSM: This simply has to be related to the trusts. On paper, NSM merging with an empty shell on the low end of their value cycle makes no sense. It would be like buying a second spare tire for your car. The NOLs would be useful but the apparent dilution of stock would not. UNLESS- this newly merged company is about to get a hold of a much larger group of mortgages to manage. Otherwise, the NSM guys are idiots, and this has been the greatest dupe of all time.

The Hedgies hate us and want to screw us: TRUE DAT! They have waged war on us ever since we got them dragged in and deposed which resulted in colorable claims for insider trading. They NEVER forgot that! But, at some point, money is more important to them than revenge. And I think when this merger closes, there will no longer be a need for the WMIH PR MACHINE OF LIES. But unitil then, expect mysterious posters coming here and spouting confusion and half baked truths. The situation is complex enough as it is without further confusion.

AZ/LG/RON etc.: Thank you for your contributions. I agree with much but disagree with some. But the bottom line is, you have looked deeply into the abyss and done your best and ARE doing your best to pull out information. I am also fully aware that you may be making inquiries or doing a few things that it is best not to disclose here. So, from that perspective, do what you have to do and don't worry if people bug you for additional details. In the end, time has proven that you are on our side as share holders.

Well, looks like KKR has taken control of WMIH. With all the ways they can create and give themselves shares they can keep this under a buck forever to force a reverse split.

A few years back when KKR entered into the agreement to fund a merger, they had some very odd verbage. They had promised NOT to short WMIH for a certain amount of time. I thought that was odd. But now it is clear.

KKR and some have shorted the hell out of WMIH since the share price started its collapsed last year in November. They couldn't care less about the upcoming reverse split they will force on us since they can hand out as many shares or adjust for split.

I believe we will not see any type of merger or final payment from the FDIC. This will drag on for 21 months which is more than they need to affect the reverse split engineered crisis. All designed to remove us and minimize our share.

Who is going to step in? The SEC? Trump? Preet (fired anyway)? Warren? They are all feeding off of the corruption. So who is going to fight the FDIC?

Once I believed that we would have a merger or aquisition and grow organically. But that is not the plan. I don't know what the plan is, but I am sure it involves screwing us as has been evident.

So I ask the AZ's with all your research, how on God's Earth is a a merger or aquisition, or a payment of escrows or any of this stuff going to happen after WMIH BOD went out of their way to push out 8ks telling the tale of having to find or renew funding and possible reverse splits (both mentioned MULTIPLE TIMES by the company) and now a phony conference where they put on their Kabuki make up and mime out this lie. How does anyone think there is a HLCE about to drop???

I think we are in not for a final drop in PPS but 21 months of siege. Day after day, NOTHING will happen. And maybe, just maybe after we hear the tale and the Kabuki theater mimes all the reasons we had to reverse split and then drop close to a buck after that because all these professionals just couldn't seem to get a deal done, then MAYBE, some piddly deal will be struck.

They have to do it like that to make it all look legitimate. There must be a way they are stealing this money and have been. I don't know how, but it must be being drained away. Enough money can buy silence and inaction.

Wherever these billions are, they will or are being laundered somehow. They are never going to be dropped in plain sight. This was my fear back in the day, that so much time would pass, how could anyone really mount a case at this point? Maybe some hedge funds are getting screwed right along with us. Who knows?

85 million shares at maybe 2 bucks a share, is chicken feed to make whole. Make it a 10 bagger behind the scenes on the investment and people say nothing. Speculation on my part, sure. But there is so much money to entice and buy cooperation by everyone BUT us to make things not work out for the shareholders and no one at the lookout post on our side.

The fookers are sick animals. They always have been. Greed is just symptom of something much much worse that drives these people.

So, now we drop the fantasies and maybe speak in plain terms and not riddles.

Hello all. Been here since the actual bankruptcy. Used to post a lot. Now I just watch. But never left. Remember the original posters, many who have quit, passed away or retired from posting. Some have turned out to be liars, and others stuck to their guns.

For those newer members, I can vouch for the fact that AZ has been here since before I was here over 9 years ago. He has been studying this case as much as anyone else I can think of.

Bob's been here too, mostly thinking out loudly.

My current concern is why there would be an attempt to drag this thing out, much less for 3 more years? Can someone explain what benefit there would be to anyone for this? Is this the final FU to us, the shareholders to shake us out before payments start coming in just days away?

If we look at the pattern of communication from our very own BOD, we see them painting a picture of diligently looking for the right fit to make a fabled M&A. Mysteriously, this has never materialized.

Then we have a series of announcements going out of their way to mention potential "reverse splits" and expiring funding with no guarantee that they can line up new funding. Now the cherry on this crap sundae they are serving up is- let's extend this process for another three years. Not 6 months, not 1 year, but let's go for three years with the implication that maybe this could go another 3 years after that.

The BOD is NOT on our side, never was, are not, and will never help us. They are criminals like WGM (Rosen) were "representing the best interests of the share holders".

I would think that the hedge funds would have been making noise by now if they truly do not trust each other and can eat their own as much as they would love to murder us as insolent retail share holder scum. That is assuming that they are not in on this in some way we have not figured out yet.

When I look at how this has played out, our own BOD has gone out of their way to cover their bases and yet achieve nothing material for us. As AZ tells us, this is by design. This is part of the misleading PR machine.

However, other than pure malice, I do not really see the point of making us miserable other than shaking out any who cannot stand the situation anymore. Out of those of us who are left, how many could you realistically shake out at this point? We are in it for the long haul. We have weathered engineered disappointment after disappointment.

So what happens if nothing happens in a few days? Sadly, I would say that AZ and LG might end up having miscalculated. And by that, I want to state that I agree with what they have presented. But this has never gone the way the law intended. And greed has driven the engine of the plan. There could be missing pieces that have been successfully hidden.

So what could we be missing since we do not have all of the information by design? I just don't think the hedge funds are going to unite against the powers that be. But I could be wrong.

And regardless, the only way out is through as far as the time money and effort I have put into this investment up to this point.I would imagine that is true for the original shareholders since the EC was formed.

One thing this should prove beyond a shadow of a doubt. There IS MONEY here! LOTS OF IT! Otherwise, there would not be such an effort to get rid of us.

AZ, I hope you got it right this time like when you got it right and didn't have to blow up your motorcycle way back!

It is time to end this and move on one way or another!

Been here since the days of seizure. Used to post a lot years ago. Now like to quietly watch the circus.

Honestly, I think WMIH has made a lot of quiet progress and increased in value over the past few years. But everything is being done in slow motion. And that is, in part, not to step on the crooks toes and allow them to hide and steal with our BOD's complicity including Willingham.

I do not believe we will see anything but piddles in our LTI accounts. I just don't see how any of these felons are going to suddenly start obeying the law. They won't let go of a nickel until you pry it out of their cold, dead, hands, much less BILLIONS of dollars. Plus, they hate us. They will never give us anything because we dared to stand up to them.

I see the JPM announcement of the 30 Billion mortgage windfall as massive hubris in the face of the law. We will never see a dime of any of that money. It just proves that the people who I have resect for like Azcowboy, LG, BlueFox and others are probably pretty on track about what SHOULD happen.

But the theft was too large and implicates the highest levels of Government as much as the private sector. The public tone has never changed about WAMU- that it was a failed savings and loan that needed to be sold to the lowest bidder to "protect" the citizens of this great land.

Toronto Dominion made an offer of over 20 Billion for just part of the WAMU assets back at the time of seizure. Dimon made an offer of 1.9 Billion and it was signed sealed and delivered. That is the reality we must deal with in this situation. How could something like that happen? Well, it takes a lot of cooperation and corruption. Too much to undo suddenly, 6-7 years later. There is no restitution anyone feels they must make in the eyes of the law because this situation was only made possible by ignoring and burying the law six feet deep.

JPM had been scouting WAMU for over a YEAR previously before the financial take down happened. They had people in place inside WAMU feeding them financials. They knew, TO THE PENNY, what WAMU was worth- not to mention these mortgages they just "discovered". They made an aquisition bid for WAMU that was turned down before the financial meltdown!

And now, years later- vindication on a lot of the posters here who tout the assets. Also, Suckman brought up numbers too before. But did not want to put the system on trial because he knew he would never do anything but burn his own firm down in the process.

I would like to know how the law views the due diligence of Weil and company and a hack like Rosenpig when they were ostensibly trying to protect WAMU but in reality working for JPM and the FDIC in effect. Now that 30 Billion shows up that shows gross negligence. But what will be done about it? NOTHING. Just like how we will get NO ASSETS back.

But, I do believe we will have a merger and it will be much smaller than what people are projecting. But, over time, it should probably amount to something.

I know that I have not lost any money at this point as the value of WMIH has risen slowly but surely. I expect to make much more over time.

But, in my opinion, any expectation that we will see a dime of our stolen money or that we will repurchase our own assets or whatever other crazy unicorn theories abound- complete with arbitrary timeframes is not going to happen.

Again, as far as the numbers and the law go- I think a lot of the posters have it right. But, without any kind of enforcement of the laws of the land, we just have a Rome continuously taking larger and larger tithes from us.

It is a shame. And I do like the crazy theories people are coming up with- but if we follow the money- the only money incoming other than so freed up from dropped suites, D&O and some escrow, nothing has come in except the investment capital for an aquisition. And when it happens, I believe we will lose control of our company piece by piece as the company grows but we are kept the same size we are now as collective investors.

But hey, I could be wrong, and unlike some others here, I freely accept that possibility. In fact, I welcome it! On the plus side, we have definitely had our share of shakeouts. And again, following the money- nobody tries to shake you out of worthless shares.

Well it is very interesting that you cannot buy any shares even though it is trading. So, all the trading is probably MM's closing out their shorts.

Yes, there is a HUGE insider trading and class action lawsuit that can be filed. First, the deceptive announcement of bad news implying that things were bad but life goes on- then at the end of the same day, a Chapter 11 announcement.

12 million shares traded after hours on that day.

No capability to buy or sell shares even though this is trading on the pinks or greys or wherever it is trading.

A rich history of the TSX being the most corrupt and known hoster of scam stocks in the world.

After the short positions are closed, we should know if MDW will come back. However, it will probably just roll over into Chapter 7 liquidation. And that will be to launch the assets to four corners of the universe to make a clawback or lawsuit financially non-viable.

Probably the biggest crook of all went to Luna Gold to perpetuate book cooking over there.

I lost some money here but nowhere near what people must have lost if they didn't get out since September of last year or so- waiting for the upswing in Gold which never came.

Hi all,

Still here and like McDonald's, "I'm lovin' it!"

My completely unfounded in technicals but looking at trends, prediction:

ANIP sails to about $115-$120 over the next 6 months.

4 to 1 split of the stock.

Rises over the next 12 months to $75.

Most of us make 6-7 figures on our holdings.

I find Just the Facts and buy him a well deserved beer for laying it out for me what he thought was coming for ANIP when I was going to exit.

Who's with me?

Cheers!

Just want to say THANK YOU to JTFM-

Just a little while back I sold my original position in ANIP and put a period on the nightmare that was Biosante. It had a very happy ending.

I asked you if shorting was a good option. You gave me some good advice about the things in the pipeline and your take that things were just getting started. You also threw out a valuation of about 60 based on what is on the table.

Well, I missed a few points on the rise but I jumped back in and have ridden this train some more. I just wanted to thank you for being an honest and diligent member of this board. A true rarity on the Internet. And that is not to belittle any of the other old timers and regulars who came through the tunnel as well. You know who you are. But you were right.

Also, I had not intended to short for any reason other than that was the normal pattern after good news for the last year or so.

But something is indeed cooking. And I think you have given us insight into just what some of those things could be.

Thanks again!

I will be paying closer attention to the message board.

Good points JTFM. That is exactly the kind of insight I was looking for. Just for the record, any thoughts of shorting are strictly due to the excessive manipulation.

However, I just don't know how close some of these paradigm shifting agreements are. You would probably know better which is why I am asking.

ANIP has always traded in bursts. I agree on why the value should continue to rise, but still think they are going to tank it. I may just sit out and wait for the tank as opposed to risking a short position.

Between now and next earnings, if they stay true to manipulating form, they will crash it soon and then let it recover a bit to some new higher ceiling, then crash off of that again once or twice more.

What is your take on fair pricing of shares based on what we know now and what the revenue is now?

Thanks!

Hey guys and gals. Still here from the way back times. Sold my position today for a nice end to a long nightmare that gradually got better.

Wondering if it is time to short now? Watching this stock for the past 3 years and crawling out of the basement with it, has turned out well in the end. But I have seen them drop the price right after good earnings.

Remember when they took it from 34 down to 20 or so? Everytime it seems the same with a higher low and a higher high. We broke 38 which was the old consistent high (maybe not the technical high) and maybe I am thinking the new high is low 40's with a short attack on the horizen.

Looking for advice about that from the old timers. I think the research here has been good and the market is slowly coming around while they play the games.

Thoughts?

Hi all old hands,

Looks like ANIP is working out after all.

Also looks like I called it exactly how it was going to play out as you may recall.

I see professor is going back and forth like usual.

Admittedly, I did not do much cost averaging even though I saw this rising after the hostile takeover. But that was more of a cautionary thing. Because if everything always went the way I thought it would, I would not have to jerk around with the BPAX's of the world. Almost breakeven though. And if Joshuri is a barometer of older hands, before the multiples reverse splits, it looks like everyone is doing well or on the recovery.

So here are my new predictions for ANIP

Being that this was a hostile takeover, what did they want from us- answer BPAX's cash! It looks like they are making aquisitions to pump out a bunch of product. So this is a good thing. But it also tells me that they do NOT intend to be bought out- which was Simes goal.

Look for a partnership to finish off Libigel. This is why they are tight lipped about it. They are simply not going to foot the bill to finish its testing etc... They are a manufacturer. But the partnership and distro agreements tell you right there how they want to play it.

What and when that takes place, who knows. I am thinking sooner rather than later. Obviously ANIP is not banking on this for general and expansion based revenue.

They got the money. They kicked Simes to the curb. They screwed us, the shareholders with yet one more reverse split. And now they are on the road to bringing their company to an international supplier level.

Wild card is still Libigel. Because if they can fly that with a partnership, they will be the only ones making it.

Good luck to everyone. Maybe I will check in more often.

Yes, I mentioned this months ago. But it has taken people here a while to understand what is going on. That being said, I think most here "get it".

Derivative lawsuit is one way to take a shot as siezing control of the company.

We could also go into bankruptsy and force the creation of an equity committee to oversee the sale and distribution of assets.

We can also sue the BOD members individually for malfeasance and lack of fiduciary responsibility.

If anyone wants to talk to some law firms about contingency work, I think we have good cases in any of those areas. Because they didn't cover their tracks too well.

Bottom line, if we throw some serious monkey wrenches into this engine of corruption, we should be able to get a better deal.

Hell, if we went into Chapter 7 liquidation TODAY, each of use would get about 5x what you will be left with after the merger and reverse split.

You listening Catty?

GLTA

Yes. And they said that they would send written confirmation of my votes - which they NEVER did.

So I voted on Proxy.com just to make sure.

What crooks!

"Meet the new boss. Same as the old boss."

You don't get to run the SEC unless you are in line with the puppetry that Wall Street performs on the SEC.

Here is their conundrum:

They don't have the votes for the merger. They don't have them because every NON vote counts as a vote against.

THEY ARE SHORTING US NOW!

The price is close to a dollar and has been drifting lower. But they can't bring it below a dollar for any extended time because then they lose the NASDAQ listing.

THEY ARE NOT BUYING SHARES NOW BECAUSE THEY PLAN TO REVERSE SPLIT THIS INTO OBLIVION!

For those of you voting YES, please get that through your skulls. They want to be issued a BUNCH of shares while they cover their shorts. Then they ride it up. But if you want to lose 90% of your CURRENT VALUE, then vote YES. That is over and above any losses you may have had if you held this through the last one or two reverse splits. So, through this deal, you get 5 cents on the dollar you put in. They get 10x their short value and start at 10x up. Then they ride it up while you hold for YEARS trying to break even. And that is saying you are still involved.

Also, watch the CVR's disappear or become worthless once you vote YES. They will sell Libigel for $1 million and then get a kickback behind the scenes. This is already what they did with the GVAX portfolio. This is why they are massively devaluing the company right now. If they didn't plan a heavy reverse split, then this would not be happening.

They expected us to be much dumber than we proved to be. It is a stalemate. If you really want to make money off of this deal, then FORCE THEM TO THE TABLE BY DENYING THEM THE THINGS THEY WANT:

NO CASH
NO NASDAQ FREE LISTING
NO REVERSE SPLIT

Simes's answers are proving what a crook he is. He is in bed with these robbers. They told him to be a shill and he will be rewarded. He does not care one bit for the regular share holder.

All my opinion. But just watch.

LIQUIDATING THE COMPANY WILL BRING YOU 5X-10X WHAT YOU WILL GET IF YOU VOTE FOR THE MERGER!

F@&K ANI.

They don't have a future without our cash and NASDAQ. If they try to low ball us like this, then they can pay for all that themselves. And it will cost them 30 million plus a listing on NASDAQ plus the years it will take to get that going.

They can just keep puttering at their level and have no piece of any Libigel and no access to money for FREE (NOT free to YOU)!

You got it Win. I cannot believe that ANYONE would vote for the merger. A vote for the merger gives up ALL OF YOUR LEVERAGE.

A vote against forces ANI to come back to the table. Believe me, a FREE NASDAQ listing in and of itself is an amazing thing for them to get. Plus, they will get operating capital.

The CVRs need to be renegotiated and the reverse split removed from the deal. The same people who are buying us are also shorting us. They will make money on the way down and then on the way up.

What they are doing is illegal and immoral. If you vote yes out of desperation, then you deserve what you will get (which is BURIED ALIVE).

If you vote no, then the shorts will kill BPAX in the short term, but you will have denied ANI the NASDAQ shell. You will have denied ANI FREE MONEY which is NOT FREE for YOU!

How hard is this to understand? You play chicken now or get tarred and feathered later.

Thank Simes for being an idiot and a sellout.

P>S> We can then file for chapter 7 liquidation of assets and force BPAX to sell Libigel to the highest bidder and take that 30 million for ourselves. It might only be 1.50- 2.00 share, but infinitely preferable to being reverse split/shorted, and only THEN allowed to rise. How long will it take at that point to recoup your investment?

All my personal opinion. NOT investment advice. Yadda yadda yadda.

I voted against all provisions. F@&K THEM!!!

If they want my vote, they have to sweeten the pot. If they want to try to bash the stock then fine, I know I am costing THEM money with delays and attempts to re-jigger the deal.

SIMES IS A LYING SCUMBAG

BPAX is a target hostile takover from ABBIE and all those other crook pharmas and Simes has a bad case of Stockholm syndrome.

What a bunch of losers. Let's cause them some pain and then we can get a lawsuit together (perhaps a share holder's derivative lawsuit.

Sadly, you can't count on the FBI, DOJ, or SEC to do their jobs. If they did, this kind of crap would not be happening.

Rome burns while Soccer Mommies try to one-up each other.

It's good to see some of the regular researchers here finally understanding what we are dealing with.

In general, if we don't work together here, they will steam roll us.

Also, just an FYI- Don't expect any help from the SEC. Not saying in any way that the papers and concerns should not be filed with them, (the FBI as well, and the DOJ).

JPMC specializes in RICO activities and have gotten away with it on many orders of magnitude higher than what we have here.

This is yet another example of insider Wall Street crooks operating with no accountability from the agencies that are supposed to regulate and prosecute trading abuse.

The 30 million dollar error was absolutely intentional. No one in their right mind, while examining all assets for a merger is going to make that kind of mistake. Sadly, not being a lawyer in this field, I do not know if there is any law that comes into play with this. I have seen accounting firms put waivers on their reports saying things like- with the numbers provided to us, this is what we have found. We take no responsibility if false information was provided yadda yadda yadda.

Long and short of it, no one will help us but each other. Just remember, no use fighting with your buddies here but working together.

Keep posting what you find, because THEY are most certainly reading this board. And they need to know that we know what they are doing.

GLTA

Jeff, your post pretty much sums up all the inconsistencies from BPAX management.

Simes is a double dealer. He is getting his cut. I thought he was being kicked out. Now I think he is being kicked out but will get much more than is publicly noted as long as he pimps the merger.

I think it is apparent that BPAX must have value. I think these crooks overplayed their hand. They have poor mouthed BPAX (with Simes being the lead detractor no less!) to keep the value down.

So the problem here is most likely, that Abbie and ANI and everyone else is in on this. They will keep it all suppressed until they control it. By then we will be diluted into oblivion and the stock will have to rise 10x for us to break even.

Meanwhile, THEY will be in on the ground floor making money from day one.

I found it strange that Simes answered any questions directly. Either you made these answers up or he is definitely one of their whores whoring it up for money in his pocket.

Also, don't expect the SEC to help at all. There is a revolving door between them and the big banks which control the hedge funds which control Wall Street.

This is a set up. The only good thing is ANI is probably going to rise in value. But I believe the CVR's are being issued to CAP our participation in future profits.

If we can force their hand by scuttling the merger, we will get a better deal! Vote NO!!!

You've been wrong 100% of the time so far.

You have no facts to back up your endless conjecture. But you want to cast aspersions about other people and their opinions here.

You are so backed up into a corner now you are just closing your eyes and slapping at anything in front of you.

Meanwhile, in reality land, we are discussing the apparent negative connotations of this "good deal" we are getting.

And I have to wonder why you spend so much time attacking others here instead of confirming your dot connecting.

I would love to be wrong about this merger. But, if you think that there are people behind the curtain about to make you- a lowly share holder- scum of the Earth as far as companies and hedge funds like Tang are concerned- well, that's just more crazy talk.

So if you want to disagree with people here, that's perfectly fine. But if you keep making accusations about agendas of people here, then you should be kicked off this board. It's really getting old and I think you have been cut more slack than most.

Read it and weep Professor Nutley and other shorts/pumpers-

"Since the FDA requires both efficacy and safety data and it should be clear we would need to repeat Phase III efficacy trials which as you rightly point out will cost approximately $35 million there was little positive reaction to the safety data reported to date."


So Simes himself is saying that Libigel comes with a $35 million price tag to bring to market. Value taken directly out of share holders' pockets...

"For clarity, BioSante stockholders will get 66 percent of any and all income due to LibiGel up to $40 million. However, please remember that after the merger BioSante stockholders will own approximately 47 percent of the merged company. Therefore in addition to the 66 percent split, BioSante stockholders will be the beneficiaries of 47 percent of the remaining 34 percent. In summary, in reality BioSante stockholders will receive the benefit of approximately 82 percent of the initial LibiGel income. After the $40 million is reached, BioSante stockholders will still participate on approximately 47 percent of any further income."

For clarity, this means that we are CAPPED at 40 million for any sale of Libigel properties. To achieve that, we have to get about 60 million outright. THEN, we get 47% of anything beyond that. Only IF ANI develops Libigel. So if they sell it, we get 66% of whatever the sale price is- but only up to 40 million, then NOTHING. Or if someone buys the Libigel package for 200 million. Guess how much we get? Do the math.

Happily the safety data to date suggest the LibiGel is safe for women in the doses used in the safety study. However our board determined that the merger with ANI was a lower risk alternative for our stockholders to realize value in the near-term than funding new LibiGel efficacy trials at this time especially given the depressed value of our stock due to the announcement of the efficacy data back in December 2011.

Translation: We thought giving away all our cash and cutting share holders out of THAT value by 50% plus reverse splitting them, then capping their possible Libigel value in hopes of a quick sale was the best choice. Obviously, BPAX does not believe that they could have brought Libigel to market with approval before dying on the vine.

I said all this before. Months ago. Now people are starting to get the picture except you. What is your agenda?

PS Thank you Jeff for posting these Simes responses.

Win, I am glad you put out the thought of trojan. I believe some cheerleaders are actually shorts just pumping sunshine all day long on a shorter's site.

It appears to me that Simes and BPAX have NEVER been a friend of the share holder. They have done nothing but obfuscate, delay, not report, go back on promises of information- all the while trying to negotiate the "best deal for share holders."

The simple reality is that if BPAX had such a handle on things, they would have:

1. Published the safety data and driven up their value BEFORE a merger.
2. Not gotten into a deal where they give away all their cash and lose controlling interest in the new merged company and BOD for said company.
3. The peanuts Simes will get for leaving is a kick to the curb- this should tell us that he is looked down upon even within the private golden (shower) circle (jerk). Simes is not in charge.

Big pharma is in charge and they are not going to pay us crap. Also, the CRV rights are capped out at 40million as their value is given. This is just a thinly veiled way to get us to vote for a merger, get bent over a chair, and cap our winnings if LIBIGEL goes anywhere.

For Libigel to go anywhere, they will have to spend 40 million MORE dollars on testing. Even if they do not, the market perceives this as the reality.

Is Simes trying to change that perception? You bet he ain't! Because, like Tang, he ain't our friend. I don't know why some people here just don't see that- actually I know why they don't (see beginning of post).

We have Libigel as a potential valuable asset. BUT NOT NOW.

We have GVAX stuff as long term value. BUT NOT NOW.

Nobody is going to pay for potential in this scenario. All of that is about to be ripped from us at minimum value. And there is no hurry to get this deal done. They will wait until they have shaken enough shares free.

The way I see it, we all get a few bucks per share if they liquidate the company. Maybe some more if we actually do sell Libigel to someone for chump change. Why would I vote for such a crappy deal from ANI?

Either yesterday was a shakeout to get more shares for voting this bs deal in place...

Or the professor's Pied Piper'ing has come to fruition. Short it up buddy!

And Jeff, nice to see that you have finally come around. Remember the days when you accused me of being a stock broker/manipulator? I am still laughing at that one.

Simes is a crook and BPAX is obviously masking value. The CVR's won't pay nearly the value if Libigel is picked up and developed by a third party.

This coming party is for everyone BUT the share holders.

A more relevant and pertinent question would be - where is big SPIKE in share price?

I did not say all doom and gloom if you actually read what I wrote. But, that might have been expecting too much.

You can get your feathers ruffled all day when people don't share your view for all I care. Careful now, high blood pressure is not healthy.

So where are we:

It looks like we got some answers and yet more questions.

-Now we know why BPAX did not tell us anything over the last 5 months or so. They were tied up in multiple confidentiality agreements. And 5 months before that, they were probably scrambling to attract buyers or look for partnerships.

-We also now know that the ANI merger is just part of the bigger picture. It looks like they are shopping Libigel to be funded with an additional merger or purchased outright. That would explain the CVRs which would follow whereever Libigel goes, if it goes anywhere.

-We also now know that there were worse offers on the table than the ANI merger.

-We also now know that Simes drove the company into the ground with the failed efficacy studies. Yes, the FDA may truly have misunderstood their own parameters, but this might have been addressed a long time ago. Anyway, at this point it is academic.

The failed Libigel study (for whatever the reasons) doomed the company. So they spent the first half of the year trying to find suitors, buyers, and financing. This is probably why the stock became a short target. No upside. And now that would explain why TANG was right in there effing us on the way down- they had inside knowledge that there was no concrete deal.

Now we are about to be diluted one way or another with the ANI merger. We may benefit from wherever Libigel lands. Depending on the safety studies, it might be worth a company throwing another 30 million at it. But that 30 million will come directly out of our investment share of the pie.

So my biggest question is- where are the effing safety results promised us back in October?!

Also, why was Libigel not included in the sale to ANI? I would rather have half of the value of Libigel when in the hands of a stable, cash flush company than trying to negotiate a deal out of thin air. That does not seem like a good way to go.

GO BPAX!

I don't even care why it is trending up. I only care that it is sustainable.

Also, with this new merger may come opportunity. The biggest question will be how far they bury us in the merger as far as what they dilute or value they hide.

Careful that this may be a ploy to get us to vote for a merger.

Regardless, this beats watching it go down every day...

Well I am betting on ANIP being successful because, among other things, they will give Simes the boot. But I will still not vote for the plan because I know it just means more pain for current investors. This is why I look at it as a 4-5 year break even. Because no matter what I or anyone here does, the vote will magically go through and the deal will happen.

I would rather take a shot on the ANIP future than lock in a loss for the money I put in already. Why? Because the economy will not get better any time in your lifetime. Why? Because nothing is being done to fix anything and wolves like hedge funds roam the streets ruining companies and gutting them to suck out the last bits of juice.

And I figure, if I see some great opportunity in the coming years, I will cash out and take less losses than now and jump into something better.

But this is definitely no JAZZ situation.

I think TANG is gone because Simes was their "bitch". Out with the old and in with the new manipulation.

And I definitely think TANG forced BPAX to issue shares specifically to short them after they realized that Simes had blown the Libigel study.

Again, there is a case buried in here to pursue. And I find it strange that certain posters here don't want to touch that one with a 10 foot pole.

Simes put us IN THE CRAPPER with his lousy management of the Libigel study parameters.

He also got in bed with TANG.

Our only hope is what comes after the hostile takeover.

Simes is out on his arse as it is based on the deal he will get to leave.

Hedge funds will pull the strings of ANIP and they will get funding from them. The hedgies are also the ones controlling the price. BPAX is trading below CASH value.

The company will soon be stripped of all products that do not directly generate revenue for ANIP.

Our hope lies in what ANIP intends to do going forward and why they want to be on the NASDAQ.

However, we will be buried alive first when they dilute the crap out of us to give the new BOD and officers and hedge funds essentially free shares or shares at value. Their zero value will by probably another 5x dilution of your value bringing you 10-100x underwater of your original investment. So we are looking at 10 cents on the dollar to 1 cent on the dollar of our original investments.

If ANIP doubles every year in value then it will take approx. 4 years to get your money out. Meanwhile these guys will make 10x their investment in their own company.

You have been sold out and sold out CHEAP. But according to some people here, we just don't understand what a "great" opportunity we got when ANIP paid us peanuts to take our company.

This is how these funds operate. It is also why no whales are touching the stock. And they want you to give up and sell so you can't file suit later.

CVR's will put all the risk on you and none of the risk on them. They will entice you to vote for the deal based on this carrot.

I am looking at this as a set it and forget it situation where I just forget about the large amount of money I put into this piece of shit and I will check on it in 5 years.

I will also be voting against this merger for what it is worth.

No buying opportunity.

Death spiral.

Like I said, any money we make will be 10x-100x buried in the dilution of shares. They want a reverse split before the change over so they will have more shares to distribute.

All part of the plan.

You get effed by Simes the wonderkind. But at least he is getting effed as well!

Wouldn't it be nice if the SEC wasn't surfing for porn right now?

And I entirely agree with your post JTFM. This is why I am still here. I am not so self absorbed to realize that I could be wrong or that other factors may swoop in to turn this around.

But since we are this far in, we might as well see it through. However, the preparation for a lawsuit must be part of the preparation to wait it out. It's nice to see that somebody was listening before when I brought this up.

Hey Porgy,

Let's connect some dots shall we? Oh wait, we are shorters just trying to drive the price down.

And that is funny, b/c I have a feeling other shorters posing as dot connectors have been playing their flute here for a while.

Long and "short" of it is-

Manipulation continues towards the price. Agreed. However, that does not translate to some coiled price spring. BPAX blew their shot for Libigel to carry the company forward. Simes failed and the one thing we can be grateful for is his humiliation in being kicked out of BPAX and given his walking papers and a fistful of cash. Yes they will pay him a couple mil' to go but that is peanuts.

We are being methodically raped by a hostile takeover.

ANIP will sell off Libigel for peanuts and our vouchers will be worth less than toilet paper.

The stock will be diluted which will kill our cost averages while the new company members get options and grants and pay "cost" for the stock while we pay 10x/20x/100x "cost".

THEY will make money while WE will foot the bill.

The deal is done. No white knight is coming for a counter bid. This is not some kind of posture to get a better deal. This is it!

ANIP may keep the GVAX stuff because it is effectively FREE. But the deal was made on tangibles:

Cash on hand from BPAX
NASDAQ shell

PERIOD

So after your and my shares are diluted 10-1. These guys will make 10x their cost on the rise. We will be her for years recovering our value. And don't even get me started on pre-BPAX crash share holders. They will never see the light of day.

All of this is my opinion and please feel free to disagree. But if this was such a diamond in the rough, then why is no one touching this stock with a 10 foot pole?!

Oh, that's interesting, isn't it.

Didn't we have a bunch of people come out of the woodwork when I suggested that we file a lawsuit against TANG/Simes etc...

They said it was essentially preposterous. Well, let's see about that.

This lawsuit state volumes about what should have been done a long time ago and it names names. And believe me, there are many more names to be named. ...All the way down to the shorters who work for their hedge fund masters.

I will let the rest of you connect those dots.

You have been wrong about BPAX 100% of the time so far.

Hi Win,

Looks like you and others are starting to finally get it. I always had faith that you would since you do some good analysis.

But you can see now what I have been talking about-

-hostile takeover.

-Simes the crook sold us out

-30+ million dollar screwup bankrupting the company for all intents and purposes

-getting in bed with TANG only to sodomized by them with open shorting on the market (forced to sell at BELOW market value on top of that!!!)

-ANI merging for our 40m CASH and free listing.

-CVR vouchers probably no more valuable than a roll of common toilet paper. This is b/c they will sell the Libigel fiasco to to Abbie most likely for PENNIES. You and I will take the hit on the 30+ million dollar discount it will be sold for.

-ANI keeps the GVAX portfolio that has no current value for us but costs us nothing as well. If that actually pans out- ANI wins. Or maybe they sell that too! Guess how much say you will have in that decision- ZERO!!!

Simes is being kicked out for his incompetence and I suggest a class action against him demanding full discovery on contingency with a law firm. He will not be protected by the corporate veil laws once he is dumped on the street. THE BOD and TANG as well!

I think the weakness here was that BioSante was bullied into a lot of this due to Sime's stupidity. But those who carried out the attacks may have broken enough laws to generate a case. It all happened pretty fast since last December.

Naked short attacks (which have actually been successfully prosecuted).

Coercion into issuance of shares to TANG at below market prices.

A review of the BOD decision to do a reverse split.

Review of the fiduciary responsibility of the BOD and executives of BPAX in going into this ANI "deal".

Possible witholding of materially relevant information.

Issuance of potentially false statements as to the viability of Libigel.

There are a lot of ways to go at this.

I am saying nothing of the kind. I am saying that BPAX and Simes mismanaged their study and opportunity.

I am not saying Libigel is a failure. I do not know. I AM saying that BPAX is a failure and opened themselves up to a hostile takeover.