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No crooks for short selling, but we have crooks that are our management! If you still dream you will never awake! I guess you are not an investor, but a management person!
Yes, We don't know. but the management always give us much worse surprise than anybody can imagine. You said you will transfer your other funds into AEZS, just go ahead. And see if your money is enough to absorb the endless cashless B warrant. But if you lose your money please don't sue AEZS management because it does not work. A sue may work if you bought AEZS before March 5 2015 because the B warrant agreement announced after that day
If mine wrong, please list your right calculation
Don't just estimate, you should put the data into the calculation formula. I got my 1-billion number at $0.05 price, 2-Billion at $0.025 price and 5-billion at $0.01 price based on calculation, not estimate.
Before reverse split, there is no possibility for AEZS to do offering again because the price is too low and the share outstanding is too big
You need read the company filings again. It clearly said the five lowest price average, not total price average.
If price can hold $0.05, the share outstanding will be 1 Billion around (you can read my previous posts in which I made detail calculation). If price goes to $0.025 we will have 2 Billions; Price to $0.01 we will have 5 Billions. People can not believe why the management made this kind warrant. However, if price higher than $0.92 no dilution happens. So, AEZS is a strange stock, it is a high price to buy and low price to sell.
No, I did not say I bought BAA back on BAA board. I want to make my loss back from here first and then buy BAA back with same amount again.
I am shy to buy back BAA with 40% less shares. So, I keep the money and wait for B warrant finished
I checked again, no the 750MM cap for the cashless B warrant. Also, no price related to B warrant holders' max profit. Actually, the lower the better for B warrant holders because they get shares exponentially increased with decreasing price.
Would you please give the 750MM cap information source? I never see the 750MM cap from the filings.
Anybody knows the 750MM cashless B warrant cap? Please share the information source.
Thanks
I am not sure if I will re-enter or not after B warrant finished.
I would like to take the risk for phase 3, but I disappoint the management. I am sure the CEO and CFO did not understand the cashless B warrant. So, they were fooled by institutions who bought the public offering. AEZS sold public offering for $35M, the institution will make at least $70M from the public offering with the cost of AEZS retail investors.
Let's calculate:
The institutions bought AEZS at $0.62 for the offering and immediately sold it at $0.62. They get their money back.
Then 200% cashless B warrant calculation to get free shares based on stock price. So, they get 200% more profit for their original payment, total $70M profit. A warrant can also get cashless shares of 0.75 for each public offering shares.
So, the institution finally get $1.24 net profit and 0.75 free shares for each public offering share from this deal.
So, I read many people who did not join this deal will sue the management for damaging shareholder value.
What a fool management
So, now I know why you still trust AEZS because you did not read filings. Now I tell you the data:
On August 31 2015, we still have 20.9 Million B warrant, but cashless B warrant issued more than 110 Million shares for only 8.9 million B warrant.
You calculate, how many shares needed for the 20.9 M B warrant at current price if 8.9 M B warrant used for 110M shares at $0.3 price.
You should wake now, maybe still too late
When I bought AEZS I also thought it has bigger potential. However, the cashless B warrant is destroying AEZS fundamental and all of potential for retail investors. With the cashless B warrant, AEZS is a high price buying model, not a low price buying model.
I calculated with the cashless B warrant dilution formula, if price above $0.92 no more dilution; if price at current level 750M more dilution; if price goes to $0.025 1.5-Billion more dilution; if price to $0.01 4-billion more dilution; please price don't go to $0.001, if so 40-billion more dilution.
What a business model
OK, I don't think you have the chance to go back to BAA because your money will vanish with the bottomless price and endless dilution.
Based on the time you were on AEZS board I believe your money 80% already vanished.
Did you see the difference?
BAA management against dilution while AEZS management for exponential dilution
Management will not buy decreasing price. The cashless B warrant dilution amount is price based. I calculated with the cashless B warrant dilution formula, if price above $0.92 no more dilution; if price at current level 750M more dilution; if price goes to $0.025 1.5-Billion more dilution; if price to $0.01 4-billion more dilution; please price don't go to $0.001, if so 40-billion more dilution.
What a business model
No matter what scary methods you use on BAA board, no matter what pumping methods you use on AEZS board, you don't have chance buy back the same amount of BAA after the round trip from BAA to AEZS to BAA again. The only choice is, you sell AEZS and buy back BAA immediately as I did, to stop your loss continue
You are a real Man, unlike Blue, Stallion and many others. They turn their money from BAA to AEZS and pump it every second. However, it decreases 10-20% every day, from $0.2 to $0.05 in less than one month. It looks cheap, but few people know it is a real scam. It has 4 million new free shares into the market every day from the cashless B warrant.
I also did some stupid thing for it. Due to I did not see Blue on BAA board for a long time, then I searched him and found him was pumping AEZS with full energy. I agreed AEZS with cash and no debt, So I bought 200K AEZS at $0.09 two weeks ago by selling 10% of my valuable BAA before I found and understood its cashless B warrant calculation formula the past weekend. I was scared to dead. So I sold AEZS yesterday, no matter what price. I took 40% loss for this.
AEZS will have muti-billion free cashless B warrant shares into market with the continuing decreasing price. So AEZS is a bottomless play.
I found almost all of AEZS people came from old BAA lovers. I believe they still love BAA now. However, they don't have chance back to BAA anymore because they are dying at AEZS field.
I am so happy that BAA still keeps strong although many long were gone for the scam AEZS
When I bought AEZS two weeks ago I was very excited for my 200K shares at $0.09 But after I saw and understood the cashless B warrant calculation formula I was scared to dead. So, I sold today for a 40% loss.
It looks like you still not understand the cashless B warrant yet.
I appreciate your mood, but it is better for you to get some help from your best friends about the cashless B warrant before you put any more money into AEZS.
Trust me, I am not a person who has a personal purpose for pumping or dumping a stock.
I don't know if the management was fooled by institutions or they did this cashless B warrant intentionally. The cashless B warrant is pushing AEZS to die. There is no chance for retails to make money and we all will be wiped out by muti-billion dilution. Don't think low price is a good chance to enter, but the lower the price to go, the worse for retail investors because the more and more diluted shares will enter into the market with decreasing price.
You still not understand the cashless B warrant calculation formula. Or you understand, but you want to cheat and then you wish to have a chance to exit.
It should be down every day because more than 4 million shares are added from converting B warrant each day
If price not higher than 0.92, shares will continue increase until B warrant finished. between August 13 and 31, 13 trading days shares increased 56 millions. That means more than 4 Million shares increase each day!
It is better for you and all of old BAA investors to sell AEZS and buy back BAA again immediately.
BAA and gold price are already stable. We just need patience here. But AEZS B warrant calculation formula indicates AEZS management either fool or criminal. The cashless B warrant will wipe out all of retail investors and make AEZS muti-billion shares outstanding, and reverse split will be immediately. It did that Oct.5 2012. You think AEZS bottom at 0.05, but I see it bottomless before B warrant finished. I will sell AEZS today at close, no matter what price.
July/August Chinese Gold 'Demand' Exceeded Total Global Supply
http://seekingalpha.com/article/3506686-july-august-chinese-gold-demand-exceeded-total-global-supply
Now, I saw the August 31 fact, the 237.7M share outstanding, means 55M cashless share added after August 12. Based on the formula calculation using 5 lowest price days (3 days for 0.08 and 2 days for 0.09). We got 2.5M B warrant exercised for 55M cashless shares. So after August 31, we still have 18.4M B warrant, far away from finished.
Now, we can see the dilution how fast:
http://www.aezsinc.com/pdfdyn/Second%20quarter%20ended%20June%2030,%202015.pdf
between June 1, 2015 and June 30, 2015, approximately 3.0 million of the Series B
Warrants were exercised on an alternate cashless basis, resulting in the issuance of approximately 14.4 million common shares
between July 1, 2015 and August 12, 2015, we issued a total of approximately 42.4 million common
shares pursuant to the exercise of approximately 5.9 million Series B Warrants on an alternate cashless basis.
Well, between August 13 and August 31, 55 million common
shares for 2.5 B warrant.
Or for clear to see:
June1 -June 30, dilution factor is 4.8 (14.4/3)
July 1 -August 12, dilution factor is 7.2 (42.4/5.9)
August 13 -August 31, dilution factor is 22 (55/2.5)
It is impossible to control total shares under 1 Billion after B warrant finished.
on August 12, 182.3 million issued and outstanding and only 20.9 M B warrant left. However, your new data show 238 M issued and outstanding, but B warrant not decreased.
It smells more fishy.
You know, short selling or manipulation does not increase share issued and outstanding.
Where this number increase came from?
I really hope I am wrong and then offer you a bottle of best wine in the world!
But I don't want to win your offer because that is too expensive for a beer
Hi, Bro
It is not my formula, but it is the company's formula.
Please read following again and write the formula yourself. This is not a difficult formula, you just need read it carefully.
the holders of a Series B Warrant may exercise the Series B
Warrant in an Alternative Cashless Exercise, which would permit such Series B Warrant holder to obtain a number of
common shares equal to 200% of (i) the total number of common shares with respect to which the Series B Warrant is
then being exercised multiplied by (ii) 0.81 divided by (iii) 85% of the quotient of (A) the sum of the VWAP of the
common share for each of the five lowest trading days during the fifteen trading day period ending on and including the
trading day immediately prior to the applicable Exercise Date, divided by (B) five, less (iv) the total number of common
shares with respect to which the Series B Warrant is then being exercised. The number of common shares that would be
issued pursuant to an Alternative Cashless Exercise in the foregoing circumstances is not currently determinable;
however, such Alternative Cashless Exercise could result in the issuance of a substantially larger number of the
Company's common shares than otherwise would be issued following a standard cash or cashless exercise of the Series B
Warrants.
I wish your calculation correct because nobody wants loss of money in their new investment.
But, unfortunately, your result is a final result, no any calculation list in the formula.
How about detail your calculation as I did?
Thanks
It is difficult for me or any person to make such decision, when one third of your investment already gone.
I am not sure what is the bottom, but the original public offering buyers want a bottomless play.
What is your decision?
Alternative cashless formula:
2*(X*0.81/0.85*5/sum of five lowest - X),
X is the available B warrant shares (or un-exercised B warrant).
From the calculation formula, AEZS plays retail investors hard who don't understand the calculation formula.
1, It uses 0.81 price for calculation, but the actual price is 0.06 now. That means 1350% discount.
2, it uses 0.85, not 1 for division. So, another 17.6% discount (1/0.85 = 1.176).
3, 5 lowest prices averaged for past 15 days, not the total 15 price averaged. For example, the past 15 days prices, we have highest at 0.11 and lowest at 0.06. So, another 0-83% discount.
So, the total discount combined, we have lowest discount 1588% or highest discount 2906% for B warrant [1350*1.176*1 (or 1.83)].
So, AEZS sold 1 share at 0.62 March 6, now gave 14.5 free shares gift to the buyer. So, the buyer cost 0.62 for 15.5 AEZS shares.
So, the buyers want the price go to as low as possible and the can get more free shares.
Also, don't forget the 0.75 A warrant which is additional anti-dilution.
So, no one can predict the final AEZS share amount for the $37M public offering.
We bought AEZS recently, not because we are too stupid, but because we never see this kind of warrants before.
Based on its filing, on August 12, 20.9M available to convert. If convert finished now, we have another 530+ M added and the total shares is 700+ M now. If not finished yet, another Billion shares needed easily because the price decrease fast.
If no B warrant left, another 530+ Million cashless shares were already issued. That means the total AEZS shares are 700+ million now. Remember, they use the 5 lowest price days to do average. for the 5 lowest days we had two 0.06 days lowest, one 0.07 day lowest, two 0.08 days lowest. So, the average lowest is 0.07.
http://www.aezsinc.com/en/page.php?p=60&q=684
At the opening of the second quarter, the Company had 93.6 million issued and outstanding common shares. On
June 30 and August 12, 2015, the Company had 139.9 million and 182.3 million issued and outstanding
common shares, respectively. The increase in the Company's outstanding shares during the quarter and
subsequent to quarter-end through August 12, 2015, results from the issuance of 31.6 million common shares
upon exercise of pre-funded Series C warrants and 56.8 million common shares upon the alternate cashless
exercise of Series B warrants issued as part of our previously disclosed March 2015 $37 million public equity
financing. As of August 12, 2015, all pre-funded Series C Warrants had been exercised and of the 29.8 million
Series B warrants initially issued, there remain an additional 20.9 million Series B warrants available for
exercise into common shares, including through the alternate cashless exercise feature.
We exercised 8.9 Million B warrant (29.8M-20.9M) with 56.8 Million cashless shares issued.
http://www.aezsinc.com/pdfdyn/MDA_FS_Q1_2015_EN_FINAL.pdf
the holders of a Series B Warrant may exercise the Series B
Warrant in an Alternative Cashless Exercise, which would permit such Series B Warrant holder to obtain a number of
common shares equal to 200% of (i) the total number of common shares with respect to which the Series B Warrant is
then being exercised multiplied by (ii) 0.81 divided by (iii) 85% of the quotient of (A) the sum of the VWAP of the
common share for each of the five lowest trading days during the fifteen trading day period ending on and including the
trading day immediately prior to the applicable Exercise Date, divided by (B) five, less (iv) the total number of common
shares with respect to which the Series B Warrant is then being exercised. The number of common shares that would be
issued pursuant to an Alternative Cashless Exercise in the foregoing circumstances is not currently determinable;
however, such Alternative Cashless Exercise could result in the issuance of a substantially larger number of the
Company's common shares than otherwise would be issued following a standard cash or cashless exercise of the Series B
Warrants.
Based on the calculation formula, if price keep above 0.953 no cashless shares needed; Then if price decrease 50% (0.476) 2x cashless shares [2x(2-1)] needed for each B warrant share; If price decrease another 50% (0.238) 6x cashless shares [2x(4-1)] needed for each B warrant share; continue: price at 0.119 14x cashless shares [2x(8-1)] needed; price at 0.06 30x cashless shares [2x(16-1)] needed. At current price 0.0588, 600+ Million cashless shares needed (20.9M x30 = 627M); continue: peice at 0.03 62x cashless shares [2x(32-1)] needed; price at 0.015 126x cashless shares [2x(64-1)] needed.
Too bad, the investors here almost came from BA* investors who gave up or partially gave up their valuable BA* shares.
It looks you still don't understand the alternative cashless B warrant. Unfortunately, I found and understood the calculation formula two weeks later after I bought 200K at 0.09 with the cost of my valuable BA* share loss. I calculated with this formula, we need another 400+ million cashless shares if the lowest price keep at 0.07; another 600+ million cashless shares if the lowest price keep at 0.05; any 50% price decrease a double amount cashless shares needed. That means if the lowest price goes to 0.01 another 3-4 Billion cashless shares needed. What a business?
Pump AEZS fully for a while
China’s Insatiable Demand for Gold
http://thedailycoin.org/?p=42079
China consumes 90% of world newly mined gold for August
http://news.sharpspixley.com/article/lawrie-williams-latest-sge-deliveries-enormous-physical-gold-may-be-nearing-crunch-point/237072/
The new trucks are not for starting the commercial, but keeping the commercial continue with enough stock ore. Also the newly stocked ore cannot produce gold immediately, and need some time for percolation. BAA should have the ore stocked for the commercial start long time ago by the rented trucks. But when commercial started, BAA needs enough ore to meet plant capacity full, otherwise if the plant capacity half full during commercial production, the cost/OZ will be high.
I am pretty sure that if you sell those other miners you newly bought with the money from BAA sale and then buy back your BAA, you will lose at least 10% of your original BAA shares, or you must add 10% new money to buy back your same number of original BAA shares. But still not too late if you do it now, or you will add much more new money to buy back your same number of original BAA shares if you delay your action.
Remember what I said today
How did your ship jump worK?