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Agreed, there'd be little reason to have preferred shares that are unconvertible except to create value for insiders in an acquisition. I expect to see A/S increase. If they're clever about it, they do it all quickly as an uplisting + reverse split + maybe an A/S increase to balance everything out for all stakeholders.
Many people will see a R/S as good if it's tied to the idea of uplisting.
Whether they're intending to convert the Series B and dump, or hold the shares with the option to convert later, or use them in deals, it makes sense to unlimit their potential.
From https://www.otcmarkets.com/otcapi/company/financial-report/311215/content there are 465,000,000 Series B with 10 shareholders of record. 10,000,000 Series C with 2 shareholders of record, 1,000,000 series D with 0 SOR, 10,000,000 Series E with 1 SOR.
This next bit is pure speculation, but I betcha the Series C D and E are ultra-preferred and a bigger ratio than 10:1
I agree, that's a potential flag. But I don't see how they can do conversions if they have already exhausted their Authorized. They can't increase O/S above A/S and here are the numbers currently (03/08/2022)
Authorized Shares
3,000,000,000
Outstanding Shares
2,797,935,953
Restricted
451,289,585
Unrestricted
2,346,646,368
Float
2,141,602,954
https://www.otcmarkets.com/stock/enzc/security
Bottom line is there would likely have been hundreds of millions and possibly over a billion shares sold since October 2020. This isn't dilution by way of creating new shares, but that many shares entering the market for the first time (from being flipped to Unrestricted and sold by original owners) could certainly have a dilutive effect. Supply squashing demand.
Also unless I missed something, there shouldn't be room to do many Series conversions since the company has nearly exhausted it's Authorized Shares (A/S). ie hoooopefully most of the dumping is over now, assuming people with hundreds of millions to sell already did all that in 2021. Might be a few still holding a sizeable core of unsold Common.
Pugsieboy:
WHEN THOSE NEWLY ISSUED AND RESTRICTED SHARES GET A STATUS CHANGE TO UNRESTRICTED, THEN THE INSIDERS AND THE LOAN SHARKS WHO HAVE THE EQUITY SHARES CAN THEN DUMP/SELL THOSE NEW SHARES ONTO THE OPEN PUBLIC MARKET (THE FLOAT)...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168322440
With each increase in Float the total Restricted shares decreased in the same amount.
As of December 31, 2021 there were 451,289,565 restricted shares remaining of the 2,797,935,953 originally issued prior to October 15, 2020.
Approximately 71 million of these restricted shares are part of a lawsuit filed by the Company. The remaining 380,289,565 have met the SEC requirement for removal of the restrictive legends but have either not elected to or been unable to obtain an opinion letter acceptable to the transfer agent or are held by Officers and directors of the Company.
I usually agree with your points, but the idea here is that ENZC used machine learning on virus data to quickly and thoroughly find immutable virus sites. This isn't too far fetched; early adopters of machine learning are disrupting in other industries as well for the same reasons. Properly written AI is fast at uncovering obscure relationships in big data. Don't forget they had help from Intel (and probably had access to a supercomputer)
https://www.intel.com/content/www/us/en/healthcare-it/resources/enzolytics-whitepaper.html
With regards to Big Pharma and today's PR, here's how ENZC framed its patent applications a year ago:
CEO Charles Cotropia stated: "While we recognize that the production of the therapeutics, we are creating takes time, we have immediately taken the necessary steps to protect our discoveries using U.S. and foreign patents. As a small biotech, this puts us on the same stage as big pharma.
https://www.otcmarkets.com/stock/enzc/news/Enzolytics-Announces-the-Discovery-and-Patenting-of-8-Newly-Identified-Conserved-Target-Sites-on-the-HIV-1-Virus?id=292798
That's exactly what it means, yes. They have it in the bag unless the patent applications aren't approved.
It's a good reminder that
1) They don't have these conserved sites mAb patents yet, but they probably have the earliest patent applications.
2) They started the applications process at least 12 months ago.
3) If the applications are approved it'll lock down the IP for a long time. (In whatever countries approve them.)
4) They could potentially lock down the IP in a lot of countries if each country where they apply is willing to approve retroactively-dated patent applications under PCT.
5) Under PCT they could apply for a patent first in USA and have 18 months to begin filing related patents throughout the world. Or they could also file in any other PCT country first (yes Bulgaria is on the list) and have 18 months to file in the USA, and still be able to make the claims they did in this PR.
Edit: I found this in an older PR:
This initial application has been filed in the U.S. and will be extended to claim international patent coverage through the International Patent Cooperation Treaty (PCT) to which 153 countries subscribe.
https://www.otcmarkets.com/stock/enzc/news/Enzolytics-Announces-the-Discovery-and-Patenting-of-Eleven-Newly-Identified-Conserved-Target-Sites-on-the-SARS-CoV-2-Vir?id=290842
Great, thanks for the heads up!
This looks like a (detailed) re-hash of several PRs from 2021:
02/22/2021 Enzolytics Announces the Discovery and Patenting of Eleven Newly Identified Conserved Target Sites on the SARS-CoV-2 Virus (Coronavirus) https://www.otcmarkets.com/stock/enzc/news/Enzolytics-Announces-the-Discovery-and-Patenting-of-Eleven-Newly-Identified-Conserved-Target-Sites-on-the-SARS-CoV-2-Vir?id=290842
03/08/2021 Enzolytics Announces the Discovery and Patenting of 8 Newly Identified Conserved Target Sites on the HIV-1 Virus https://www.otcmarkets.com/stock/enzc/news/Enzolytics-Announces-the-Discovery-and-Patenting-of-8-Newly-Identified-Conserved-Target-Sites-on-the-HIV-1-Virus?id=292798
04/05/2021 Coronavirus Targeted Epitopes Claimed in Enzolytics' Pending Patent Applications are Verified as Fully Conserved in the UK, Brazil and South African Variants of the Coronavirus (SARS-COV-2) https://www.otcmarkets.com/stock/enzc/news/Coronavirus-Targeted-Epitopes-Claimed-in-Enzolytics-Pending-Patent-Applications-are-Verified-as-Fully-Conserved-in-the-U?id=296630
It's still a good reminder of the IP and patent coverage ENZC will have for HIV and Covid if the patent applications are approved:
The applications are pending as Patent Cooperation Treaty (PCT) applications which allow the Company to prosecute the applications both in the U.S. and in all PCT member countries. The applications identify and claim the conserved, immutable sites on the SARS-CoV-2 virus and HIV virus that have been identified by the Company through its Artificial Intelligence (AI) technology.
https://www.accesswire.com/694640/Enzolytics-Highlights-Its-Comprehensive-PCT-Patent-Applications-Covering-Discovered-Conserved-Target-Epitopes-on-the-SARS-CoV-2-and-HIV-Viruses
International Publication: as soon as possible after the expiration of 18 months from the earliest filing date, the content of your international application is disclosed to the world.
https://www.wipo.int/pct/en/faqs/faqs.html
Generally speaking, within 30 months of filing a PCT application, an applicant must enter into the member countries patent offices or the regional patent offices in which it would like to proceed with filing a national or regional phase entry patent application. Some patent offices have slightly later deadlines. For example, the European Patent Office employs a 31-month deadline.
https://www.heerlaw.com/how-long-does-it-take-to-get-a-patent
Hopefully! That would be awesome.
Forgot to mention, the series B conversion rate appears to be 10:1
https://www.otcmarkets.com/otcapi/company/financial-report/312797/content
Just these four issuances equals 295,180,000 Series B shares:
x10 = 2,951,800,000 Common shares
For reference, the current O/S is 2,797,935,953 https://www.otcmarkets.com/stock/enzc/security
I don't know enough about conversions to fully grasp the meaning (or lack of meaning) of this info, so maybe somebody could point me in the right direction. Am very curious if there's restructuring that affects the Authorized/Outstanding/Float around whatever time this ticker next pumps, ie to make room for more conversions.
It's mostly a hunch. ENZC has talked a big game and people have been patient to see them deliver. If they miss milestones or performance is underwhelming, especially now in March and early April, the rhythms are right for the ticker to trend down another level.
It doesn't seem to take a ton of volume for price to drop. Not sure if sell pressure is disgruntled longs and MM's piling on with short selling, or people with past conversions who still have shares to sell, but probably a mixture - coupled with lack of interest from new investors.
I'm also concerned about new tranches of shares becoming unrestricted and the controlling parties then steadily dumping. The latest unaudited filing shows hundreds of millions of Common Restricted shares which may or may not have become unrestricted since September, and we have no visibility almost six months later into new conversions or issuances, including Series B which insiders issued to themselves which can be converted into Common. I'm looking forward to the next filing to clarify some of this activity.
https://www.otcmarkets.com/otcapi/company/financial-report/311215/content
Here's the rhythm visualized. Head & shoulders followed by flat trading followed by steady decline on low volume. Coincides with a steady rhythm in MACD. If the pattern continues as it has, we're set up for a shift toward bearish momentum and another period of decline. (Which is extra likely if the March to remember is underwhelming.)
While I'm showing charts, the bollinger bands are the narrowest they've been in ages, so any big news end of month could really send this.
Bollinger bands are pink dashed and light blue 20 day moving average, dark blue is 200 day moving average.
In the bigger picture, this is finally starting to bowl out, so maybe we stop seeing drops and it slowly begins to build value again. Or trades flat indefinitely around these levels.
Agreed, looks like whoever was dumping shares has backed off. I'd buy more now but I expect those sellers to suddenly come back with even more shares. So, waiting and watching.
Here's the moment:
27:40
That's not how anyone took it, though. The new audit company had already "fulfilled all the requirements" prior to the interview, according to Chandra. Plus with twitter and everyone abuzz as a result of his very direct statement, he never added disclaimers or corrected any obvious misinterpretations.
If twitter counts as a PR channel, Youtube counts just as much.
That said, they could still surprise us all and deliver on the audit shortly, & better late than never. Would love to see an official update of any sort since it's a sore spot for a lot of people now.
Depends if it's a falling knife. If there's more conversions happening now, might be awhile before this finishes breakdown.
March isn't even half over, can't say they've missed any of their March milestones yet. But they did set that expectation and project that timeline, here's hoping they deliver!
Here's where Chandra addresses this and gives the timeline. He says they're "on track" for "introducing" ITV-1 to Africa in late March early April. Working with Scendea for FDA and EMA approval processes.
Ok, great! Thanks
Also, correct me if I'm wrong here, but it looks like this line implies that they cannot ship their product to the two African hospitals where they have commitments until the toxicology tests are completed:
Toxicology, pharmacodynamic and pharmacokinetic studies (toxicology studies) of the immunotherapy are planned, a prerequisite to use of the immunotherapy in certain African countries where the therapies will be used.
Highlighted the substance in green and the forward looking in pink:
Still glad to see some news.
COLLEGE STATION, TX / ACCESSWIRE / March 14, 2022 / Enzolytics, Inc. (OTC PINK:ENZC) (https://enzolytics.com/) Enzolytics' ("ENZC") wholly-owned subsidiary Virogentics, Inc. (the "Subsidiary") today announced its progress toward the production and use of its ITV-1, anti-HIV immunotherapy treatment in the Central and Eastern regions of Africa for patients with HIV/AIDS.
The steps necessary for the production and delivery of the Company's anti-HIV therapy in these regions are in progress. Toxicology, pharmacodynamic and pharmacokinetic studies (toxicology studies) of the immunotherapy are planned, a prerequisite to use of the immunotherapy in certain African countries where the therapies will be used. These toxicology studies will also be used in the Company's progress toward clinical trials necessary for EMA approval. The ITV-1 therapeutic has succeeded in clinical trials earlier and the Company is planning additional trials leading to EMA approval. As that approval is underway, the ITV-1 therapeutic will be provided to the Central and Eastern regions of Africa once toxicology studies are completed.
The Company, led by its CSO Harry Zhabilov and advisor Professor Dr. Luchezar Ivanov, is guiding the production in Eastern Europe using the Company's patented proprietary technology and production process. The Company has commitments for the production of an initial quantity for use in two African hospitals. A follow-on production will be provided to treat a larger group of HIV/AIDS patients followed by a much larger commitment, potentially to treat 30,000 patients,
While the healthcare focus for the last 2 years has been on the COVID-19 pandemic, the HIV pandemic has continued unabated. Over 16 million people are infected with HIV, with approximately 10% being children. There are 1.7 Million new cases each year and approximately 1 Million deaths. Over 50% of the worldwide patients with HIV/AIDS are located in Africa.
The only therapy for treating infected patients is antirational (ARV) drugs, but these drugs are not available to 27% of those infected. The ARV therapies which are available cause substantial side effects and are expensive. The ARV therapy Biktarvy produced by Gilead costs $42,635 per year. The global HIV market is estimated to be over $30 billion this year and is expected to grow to over $36 billion globally by 2027.
The Company sees this as a massive market opportunity with room for improved therapies and recognizing that 27% of those infected with HIV do not have access to any ARV therapy.
Harry Zhabilov, the Chief Science Officer of ENZC, stated, "We continue to move forward methodically in our efforts to bring our ITV-1 immunotherapy treatment to market as well as the IPF Immuneâ„¢ modulator. The Company is moving forward with preparation for clinical trials in Europe and approval under the EMA. At the same time, the Company plans to follow the approval process for FDA approval. Our partners, especially Dr. Ivanov, have been invaluable in these efforts."
Good DD, thanks.
At https://nutricompany.com/testimonials/ you can find a few companies mentioned:
LuckyVitamin - https://www.luckyvitamin.com/
Muscle Foods - https://musclefoodsusa.com/
Body Basix - hard to find any info, but I spotted this: https://nutricompany.com/news/major-retailer-vitamin-world-now-carrying-body-basix-products/
Native Remedies - https://www.nativeremedies.com/ (googling them, they have a website with direct order and also list products on amazon and walmart .coms)
At least three of these four look legit, and if NPI isn't fabricating their testimonials, it looks like they worked with NPI in some capacity at some unknown time and were happy customers.
But yeah, NPI really needs a portfolio of success stories featured on their website. These four companies are the only data points I could find and we have no idea how NPI helped their businesses and how much of their success was home grown, from those vague testimonials.
NPI has a list of recognizable logos at https://nutricompany.com/npi-advantage/ but the wording is a bit ambiguous. "Your Nutritional Supplements can be distributed via many channels"
They break down their process and services here:
https://nutricompany.com/domestic/
Because we specialize in a number of industries such as Health\Wellness, Beauty, Skincare, Sports Nutrition, Functional Foods, and Beverages we have built key relationships that can help take your brand to the next level. Our team members have worked with celebrity spokespeople, athletes, and legends in the health and fitness world, to help build brands from the ground up, and expand brands whose sales have begun to stagnate or weaken
I hope it's a good report!
How can we know it's not Livingston unloading shares through the MMs, getting impatient at low retail volume and dropping down a level to attract more buyers?
"Launching" is certainly vague, and good point how that sentence is ambiguous. The rest of the paragraph he offered in support pretty clearly paints the picture he's talking about March for the whole kaboodle, unless he's intentionally being disingenuous.
Remember this interview was in January. Per his quote, production was "done" and the marketing campaign "is ready". They already "have" a dedicated website for testimonials, reviews and direct order.
Agreed, still a long way to go in March! If all this stuff actually starts to drop it's gonna be a ride.
Chandra said so:
18:00
IPF Immune: have partnered with NPI for sales, marketing, logistics, regulatory compliance.
"We will be launching IPF Immune across multiple big and small retail chains, online platforms, in March 2022. Our production has been completed in Europe, and we are ready with our marketing campaigns. We have listened to the community. We will be launching a website dedicated to IPF Immune. The plan is also to go forward with TV commercials and reaching out to the community as such. Fortunately, the feedback that we receive from patients who receive pepsin fragment has been phenomenal. Patients have really benefited from this pepsin fragment. So what we have done, this dedicated website that we have, will have the option of leaving testimonials, reviews, and also have the options of buying it directly from the website."
Still 18 trading days left in March to make good on these claims or be transparent on what missed.
I think we see this dip toward .06, maybe as soon as tomorrow. Support is getting squeezed as bulls get less willing to buy. (Chart below.)
Any meaningful news could send it the other way toward .15 but I think we get radio silence. IPF Immune "launching" looks to be ENZC attending the retail convention end of month, Africa probably won't be news for a few months apart from maybe "we started on schedule" which I don't anticipate will hold the market's interest very long.
IMO we're not getting the audited fins this week. I don't know what's holding them up, but afaik nothing has changed that could already have been holding them up.
Tom's twitter says this (emphasis mine):
Posts are just my opinion. Do your own due diligence. Trade at your own risk. We are not a Broker Dealer or an Investment Advisor.
They are still within the window to reply to the court, afaik. And Facebook is as valid a platform for company announcements as Twitter.
But yeah, so far his track record is making grand assertions and failing to back them up tangibly.
Bullshit seems par for the course with him so far, yes. He has yet to put up. Still making me uneasy when ENZC has yet to put up as well.
There are some spicy assertions in it, but so far ENZC is suing Savov and not the other way around, and as far as I know Savov is STILL avoiding official legal channels to present his case.
If there really is a notarized agreement that Immunotech can produce, locking up production and distribution rights to ITV-1 through 5 until 2030, ENZC could foreseeably get into trouble with US market regulators. Would be interesting if ENZC proactively sued Savov to tangle things up in court while certain parties flipped restricted shares to unrestricted to make a profitable exit. Imo as an investor, seeing concrete deliverables or better transparency from ENZC at this point is becoming critical to dispel some of these rumors.
I recall Immunotech having an exclusive distribution agreement for ITV-1 in Ukraine. I'm not sure if that was worldwide. I've been curious if Savov is correct that there's an exclusive agreement that's rightfully IMMB's property, but mistaken that it's as broad in scope as he's claiming in that facebook post.
Here's some of my older research on it, I'll have to look again when I'm rested and caffeinated. :P
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166059427
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166072907
It's a messy situation whichever way you dice it!
New post from Savov I completely missed. Feb 12th:
To the Shareholders of Immunotech Laboratories Inc (IMMB) and the Partners of Immunotech Laboratories BG
Dear shareholders,
The medicinal products on the basis of the IPF platform – ITV-1, ITV-2, ITV-3, ITV-4, ITV-5 with US Patents ? 7,479,538, ? 7,625,565, ? 8,066,982, ? 8,067,531, ? 8,309,072 and the exclusive rights over the production and distribution with a notary signed in the US agreement are the property of Immunotech Laboratories BG until 2030. Every reference to these patents and the clinical trial of ITV-1 by Enzolytics Inc and International Medical Partners Ltd, as well as other entities, is a breach of the exclusive rights of Immunotech Laboratories BG, which is illegal and punishable by law. We have informed the management of Enzolytics and International Medical Partners, namely Charles Cotropia, Harry Zhabilov, Luchezar Ivanov, Volen Siderov that any reference to these patents on their side is illegal and made with the goal of misleading shareholders and investors, regarding which we will inform the competent court and the public. There will soon be a shareholder meeting of Immunotech Laboratories Inc (IMMB), because in his attempt to bankrupt the company, Harry Zhabilov who was formerly the CEO, resigned from all positions on November 12, 2019 without informing the shareholders. In this way, he left the company without management, which he hid from all shareholders. Zhabilov committed these actions in an attempt to illegally transfer all assets from Immunotech Laboratories Inc. to Enzolytics Inc., which has caused damages and lost profits to the shareholders of Immunotech Laboratories Inc. We will soon conduct a validation of the medicinal product ITV-1 with US Patent ? 7,479,538 and the estimated release on the market is until 09/30/2022.
For additional information you can contact us on the electronic mail immunotechlabsbg@gmail.com or visit the website www.immunh.com
Dimitar Savov
President
Immunotech Laboratories BG
https://www.facebook.com/ImmunotechLaboratoriesBulgaria/
Agree, the box could definitely do a better job of screaming that. ENZC should bounce their ideas off that world class marketing firm they contracted.
I did an image search for "immune booster packaging" to see what others are doing and the visual language isn't clicking for me at all, haha.
There were some unforeseen hurdles like the centrifuge breaking after September, to be fair. And maybe they were counting on a couple of the lawsuits going away. (ENZC looked like it had them in the bag but the courts keep giving other parties extensions to file overdue stuff.)
If this was a share selling scam, those vague forward looking tweets from Chandra would help CSTI get a better price.
I dig the box design, the dark colors kinda reminds me of Bang energy drinks. They could maybe brighten that Enzolytics logo to give it a high contrast pop & be able to identify the box from a distance. The text on the side is critical for sales, it needs to be a brief and compelling sales pitch as well as an accurate description of the science behind the supplement. Hopefully the expo guys like what they see in three weeks!
They may have some good surprises planned for us in March, but the #revenue-generating products (IPF Immune) will be debuted at an expo starting March 21st to prospective retail companies who might want to add it to store shelves. If they get any takers I imagine it will be a few more weeks/months to finalize deals and get inventory shipped.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167815483
Just remember, September 2021 was also their time to shine:
#ENZC It is our time to shine.Onwards and upwards.
[big photo of iceberg]
#ENZC It is our time to shine.Onwards and upwards. https://t.co/9P1kJKC4bC pic.twitter.com/x0hWdhKtNj
— Gaurav Chandra M.D. (@drgauravchandra) October 1, 2021
Thanks James.We look forward to an exciting phase for Enzolytics.Lots to talk about milestones, partnerships,Intellectual Property portfolio, Ecobiotic drugs and microbiome as we enter an exciting phase of exponential growth for Enzolytics.Onwards and upwards. #ENZCSTRONG #enzc
Thanks James.We look forward to an exciting phase for Enzolytics.Lots to talk about milestones, partnerships,Intellectual Property portfolio, Ecobiotic drugs and microbiome as we enter an exciting phase of exponential growth for Enzolytics.Onwards and upwards. #ENZCSTRONG #enzc
— Gaurav Chandra M.D. (@drgauravchandra) September 24, 2021
I did some searching, and so far haven't found anything that says they will or won't do a RS for 2 years.
Totally possible that exists in a dusty old agreement somewhere - that merger happened well before my time here! But as a newer investor I'd want to see it written somewhere official to elevate it beyond a rumor.
Regardless, hopefully they hit some of their milestones between now and September and our shares go back to green.
It's all speculative owning enzc, and if I recall, someone stated after the merger enzc filed a form saying no RS for 2 years, and that expires September from what I recall.
This is the Samsung PR that mentions ENZC having a "cure". I looked and couldn't find any extra quotes from their CEO, but I do vaguely remember people saying he made one around that time.
The Enzolytics protocol offers the opportunity to implement A.I. analysis and provides a platform for creating multiple fully human Monoclonal Antibodies targeting conserved immutable sites on the virus and offering a cure for these viruses.
https://samsungbiologics.com/media/company-news-view?boardSeq=1377&schString=enzolytics
Optimizing Empathetic AI to Help Healthcare Providers Cure Deadly Diseases
Mid January was when production was supposed to start for ITV-1 clinical trials, after a delay due to centrifuge damage. If we'd gotten news about ITV-1 trials in a PR in January, it could have been a nice boost.
Installation of Equipment at VetProm Facility Enzolytics, Inc. purchased and installed equipment necessary for production of the ITV-1 immunotherapy for the clinical trials being design by Clinic Design. The original equipment had to be returned because of damage to the centrifuge which, along with other issues encountered by IMPL, delayed the scheduled production expected in October. The new expected production date has been rescheduled for January of 2022. (Page 22)
Again, the precise definition is super important.
Outstanding Shares
.......... 2,797,935,953
.......... 02/25/2022
Restricted
.......... 451,289,585
.......... 02/25/2022
Unrestricted
.......... 2,346,646,368
.......... 02/25/2022
https://www.otcmarkets.com/stock/enzc/security
I forgot to add, the other way to overcome the selling pressure is for the company to generate value by delivering on its milestones. It's been shown on here before that the current share structure can support price improvement, if there's a lasting catalyst to increase demand. (Like a revenue-generating product on big box shelves, for example.)