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Celtics.. Thanks
Thanks for your response and offers of help on all boards. Got your PM but cannot respond as I am a "freebie". But I am able to read anything you send. Looking forward to the 27th (oops wrong board)
Looking to pick up some more SCRC too!
Some of those look like they could be some pretty BIG markets with lots of $$$$ generated.
Celtics...PENA SOLD THOSE NOTES AHEAD THINKING SCRC DIDNT HAVE
Thanks for always being so helpful so indulge me again! What do you mean by "PENA SOLD THOSE NOTES AHEAD THINKING SCRC DIDNT HAVE THE $$$$$ THEY ARE WRONG!!!!"
What notes and to who?
Also, in the past few days, SCRC has pre paid a couple of loans. Where did they get the funds to do this? Are they borrowing elsewhere (like I play my credit cards), or did they issue stock? Or do they actually have enough revenue? Which then begs to ask, if they have revenue, why borrow in the first place and did they pay any penalties for paying off early?
As always, thanks in advance.
NBM
joenatural
Great article.. Thank you for your research.
Best guess from your experience, what timeframe might we expect to hear the official results of the MH? within a month?
TIA
Just read the transcript of the CC. Everything seems great. However, marketing and launch in Europe is anywhere from 1 to 6 months down the road.
CBS,
Just read your DD sticky and saw this:
"Healthee Chew (HC )- A soft, non-sugar, diabetic friendly proprietary formulation and process for a chewable, salivating, juicy and good tasting dosage form. Formed and packaged with accurate piece weight, providing quick or longer disintegration in the mouth.Commercialized and ready for a broad range of actives small, and large dosages"
Is that what would be utilized for insulin dosing, or is that another product? I'm still reading up on the company and like very much what I see.
Thank you CBS and Celtics for all of your info.
NBM
(Now I wish I knew how to put "my logo" on my messages.)
Celtics,
Thanks for all your research. You mentioned: "imo in 12 to 15 months with this name 80 different fda approved products that will go into this delivery system!!!!!! This will be EPIC!!!!"
Are any of those approved products insulin for diabetics? That could also be a Very Substantial Market.
NBM
OT: Mailbox
Can't send private messages, but thanks for yours!
DG and EM
Thanks for your responses. I remember that now. Let's hope Canada and Europe get moving!
NBM
China market potential
Read the following statement on another board and was wondering (actually forgot if it was ever mentioned) if APRI has anything going on in China...
"China represents the largest ED market in the world. One in three Chinese men displays some symptoms of ED. This translates into almost one hundred million men"
If we are there, how far along are we?
What are the regulatory steps there?
Thanks in advance.
Thanks for your prompt response. I look forward to sharing the profits with you (and the others). Took a small position yesterday after reading your posts Sunday and doing some additional research.
Regarding delivery of Viagra
You say "The huge ticket here is VIAGRA!!!!!! A DELIVERY SYSTEM IN 2 to 4 MINUTES I MEAN ITS UNREAL THE OPPORTUNITY OVERSEAS!!!!"
Is such a product ready?
Does it have to be approved by China's equivalent "FDA"?
How soon before it will be on sale?
And would they then have to have clinical trials for it to be approved for sale in US? And how long would that take?
Hope these are not stupid questions.
Thanks in advance..
Russell Index Info:
Reconstitution schedule
June 14
Preliminary additions and deletions to the Russell Global, Russell 3000® and Russell Microcap® Indexes published after 3:00 p.m. PST
June 21
Updates to the list of additions and deletions
June 28
Updates to the list of additions and deletions
Reconstitution final after the close of the U.S. markets
July 1
Final membership lists posted for the Russell Global, Russell 3000®, Russell 1000®, Russell 2000®, Russell Midcap® and Russell Microcap® Indexes
Russell Index Reconstitution | Russell Investments
ISR Trading at 76 cents..
On May 17th jemberlin said "It's gonna be a long time before this goes anywhere. Like, I'm talking gold will be over $2000 before this moves past .55."
HMMMMMM! 76 cents and gold is at $1,413.50 ...
Talldude,
Once again, thank you very much, especially for taking the time to respond to each of my thoughts. I guess I understood it a little better than I realized.
So let me indulge you with another question.
Let's say I choose to do nothing and just let the shares sit in my Ameritrade account(BTW in an IRA), and some big gold miner (CDE-??) offers to buy us out. Will those shares still have to go thru this process? Or is it waived or taken care of by the buyer?
TIA
NBM
Rgarding your post regarding restricted stock from last week:
Thank you for your very informative post.
Let me paraphrase your comments to see if I understand this.
#1) In order to clear the restriction, I must sell the shares..(so this is really beneficial to the next person buying the shares and not ME!)
#2) I must complete a sellers representative's letter and a stock power properly signed and received by broker before I can sell.
#3) TD Ameritrade is arranging for individualization of each person's stock certificates and is paying for such.
#4) If I choose to sell, the transfer agent may or may not issue a legal opinion. (Don't they know if their stock is any good? What is the need for a legal opinion? What purpose does it serve?)
#5) I will have to pay a $250 processing fee to sell any shares of this 39 cent stock?
#6) I will have to pay a commission to sell also?
#7) And I will have to designate $2,000 in my account to cover expenses. What expenses would that be and how much will they be?
#8) Why is Pershing putting the shareholders thru this when they could just arbitrarily lift any restrictions? Aren't they the ones that place them?
Thanks in advance for any additional insight
thanks..
I see 100 shares just went across...
Has trading been halted..
after 10 am and no volume????
Is there also a link for the presentation yesterday?
Short Quote™
Enter Symbol:
TALON THERAPEUTICS INCORPORATED $ 1.35
TLON 0.01
Daily Short Sale Volume - NEW view
Short Interest (Shares Short) 7,700
Days To Cover (Short Interest Ratio) 0.0
Short Percent of Float view
Naked Short Selling List - NEW view
Short Interest - Prior 12,000
Short % Increase / Decrease -35.83
Short Squeeze Ranking™ view
% From 52-Wk High ($ 0.00 ) %
% From 52-Wk Low ($ 0.00 ) %
% From 200-Day MA ($ ) %
% From 50-Day MA ($ ) %
Price % Change (52-Week) %
Shares Float view
% Owned by Insiders
% Owned by Institutions
Market Cap. $
Trading Volume - Today
Trading Volume - Average 403,300
Trading Volume - Today vs. Average 0.00 %
Earnings Per Share
PE Ratio
Record Date 2012-JulyA
..Apricus Biosciences Submits Response to Swissmedic for Its Vitaros(R) Market Application for Erectile Dysfunction
Press Release: Apricus Biosciences, Inc. – 4 hours ago
....
Share0EmailPrint.....Companies:...Apricus Biosciences, Inc. . ..RELATED QUOTES.
.Symbol Price Change
APRI 3.1089 +0.0689
......SAN DIEGO, June 14, 2012 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio" or "the Company") (APRI) (www.apricusbio.com) today announced that the Company has filed its response to questions received from Swissmedic, the Agency for Therapeutic Products in Switzerland, relating to its marketing application previously filed for Vitaros(R), the Company's lead product candidate for the treatment of erectile dysfunction ("ED") in Switzerland.
The filing of the Apricus Bio response triggers a 90-day review process, after which if found acceptable, may then trigger a pre-decision by Swissmedic for the approval of Vitaros(R) for ED in that country. Following a subsequent approval decision and any required Company responses, Apricus Bio would then be required to supply Swissmedic with the final labeling and pricing information of Vitaros(R), which could take an additional 90 days for review and acceptance before that product can be marketed in Switzerland.
"An approval in Switzerland would mark our second worldwide approval and our first European approval for Vitaros(R) for ED and would be an important step for us in our goal of marketing and selling this product on a worldwide basis," said Bassam Damaj, Ph.D., President and Chief Executive Officer of Apricus Bio. "Swissmedic is considered one of the most well-respected health regulatory agencies in the world, and their decisions influence the regulatory decisions in many other countries."
Apricus is currently in discussions with multiple potential commercial partners for Vitaros(R) for ED in Switzerland.
According to IMS Health, the annual ED market in Switzerland was estimated to be EURO27 million in 2010. Switzerland is not part of the European Union and is therefore not regulated by the European Medicines Agency. Marketing drugs in Switzerland requires an independent application and approval from Swissmedic. Marketing applications for Vitaros(R) have also been filed in the European Union and in the MENA territories.
Apricus Bio has received approval for Vitaros(R) as a first-line treatment for ED in Canada, where the Company's partner, Abbott Laboratories Limited, plans to launch the product in that country in the second half of 2012. In addition to Canada, partnership and licensing agreements for Vitaros(R) have been executed by Apricus Bio in the U.S., Germany, Italy, certain Middle East and North African ("MENA"), the Gulf countries and Israel.
About Vitaros(R)
Vitaros(R) is a topically delivered formulation of alprostadil delivered using Dodecyl 2-N, N-(dimethylamino)-propionate hydrochloride (DDAIP HCl), the Company's proprietary NexACT(R) drug delivery technology, for the treatment of erectile dysfunction (ED). When absorbed through the skin, alprostadil, a vasodilator, directly boosts blood flow, thereby causing an erection.
Vitaros(R) differs from oral medications in two ways. First, it is applied locally, directly to the penis as a cream, instead of administered orally and thus is not absorbed systemically. This topical application helps to reduce side effects and provides men who cannot take the existing oral medications a patient-friendly alternative. Second, clinical studies have shown that Vitaros(R) works on average in approximately 15 minutes, compared to a reported onset time of 30 minutes, or longer, for oral medications.
About Apricus Biosciences, Inc.
Apricus Bio is a San Diego-based revenue-generating pharmaceutical company, with commercial products and a broad pipeline across numerous therapeutic classes.
Revenues and growth are driven from the sales of the Company's commercial products through its Apricus Pharmaceuticals USA, Inc. and NexMed (USA), Inc. subsidiaries and through out-licensing in certain territories of its product pipeline and NexACT(R) technology.
Apricus Bio's current NexACT(R) pipeline includes Vitaros(R), approved in Canada for the treatment of erectile dysfunction, as well as compounds in development from pre-clinical through pre-registration currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Consumer Healthcare.
Apricus Bio currently markets Totect(R) (dexrazoxane HCl), the only drug approved in the U.S. for the treatment of anthracycline extravasation. The Company also plans to market in the U.S. or certain other countries the following products: (a) Granisol(R) (granisetron HCI) oral solution, the only FDA-approved, oral, ready-to-use liquid solution of granisetron, (b) Aquoral(TM), an FDA-cleared, prescription-only spray for the treatment of Xerostomia (the medical term for dry mouth due to a lack of saliva) and (c) NitroMist(R) (nitroglycerin sublingual spray), an FDA-approved nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris (chest pain) due to coronary artery disease (narrowing of the blood vessels that supply blood to the heart).
The Company also expects to develop and/or acquire and then bring to market additional pharmaceutical products in areas of care that will benefit patient needs worldwide.
For further information on Apricus Bio, visit http://www.apricusbio.com, and for information on its subsidiary please visit http://www.nexmedusa.com. You can also receive information at http://twitter.com/apricusbio.
Femprox mentioned in this article
Health News from MedPage Today
Topical Drug May Hit the Spot for Female Arousal
Younger women treated with the highest concentration of the medication had the greatest improvement.
By Charles Bankhead, Staff Writer, MedPage TodayMedically Reviewed by Robert Jasmer, MD
Sexual Health: Female Arousal Problems
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Get the latest health facts, tips, and advice. @EverydayHealth
Related Articles Living With A Spinal Cord Injury - Intimacy And Fertility Can Blood Pressure Meds Affect Erections? Injected Medicines For Erection Problems CommunityHealthy Living Blogs
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DrugsAlprostadil Capoten Sildenafil ATLANTA — THURSDAY, May 24, 2012 (MedPage Today) — Symptoms of female sexual arousal disorder (FSAD) improved significantly during treatment with a topical prostaglandin compared with placebo, results of a randomized clinical trial showed.
Women who used alprostadil (Femprox) cream had as much as 63 percent improvement in the primary outcome of satisfactory sexual encounters, as defined by responses to a validated sexuality questionnaire.
Women who used the highest concentration of alprostadil cream had significant improvement in all primary and secondary endpoints compared with placebo, as reported here at the American Urological Association meeting.
"I think these results are exciting," Irwin Goldstein, MD, of San Diego Sexual Medicine in California, told MedPage Today. "Women have sexual problems, and we really haven't been addressing them. We haven't been giving them choices, like men have choices, and women need choices just like men do."
Topical alprostadil was generally well tolerated, and adverse events were consistent with drug's known effects, he added.
Some women may find certain nonprescription products helpful with minor problems related to sexual arousal. However, more severe forms of FSAD have proven unresponsive to multiple therapies, including phosphodiesterase type 5 inhibitors and, most recently, topical testosterone preparations.
Alprostadil (Muse) has demonstrated efficacy in the treatment of erectile dysfunction in men. An injectable formulation is approved in the U.S. and a topical formulation has approval in Canada. The topical formulation's vehicle contains a proprietary skin-penetration enhancer that temporarily relaxes tight skin junctions to enable alprostadil delivery and penetration.
Effective tissue penetration by alprostadil results in vasodilation, smooth muscle relaxation, and increased blood flow. Men apply the cream to the head of the penis, whereas the higher dose developed for women is applied to the clitoris and distal anterior vaginal wall, considered the G spot.
"Everyone understands that when you have desire it leads to sexual activity, which is followed by blood flow to the genital tissue, causing an arousal and engorgement response," Goldstein said. "If a woman has issues with arousal, it's problematic. We understand that. That's what erectile dysfunction is in men. There's absolutely no reason not to think that there is a subgroup of women who are unhappy with their sex lives and who could improve their sex lives if they had an appropriate topical agent that's a little stronger than what is currently available."
Overall, 33 percent of women allocated to placebo had improvement in satisfactory sexual encounters, compared with 46.3 percent, 43.5 percent, and 53.9 percent of women in the alprostadil groups.
The study population consisted of 168 women ages 21 to 45 and 206 women ages 46 to 65, for a total of 374 in an intent-to-treat analysis. Evaluation of the primary endpoint by age group showed that 33 percent of placebo-treated patients had improvement regardless of age.
Age-stratified response rates differed across the alprostadil dose groups, but a higher proportion of women in each group had improvement compared with placebo. In the 500-µg arm, 49 percent of older women and 42 percent of younger women improved. In the 700-µg arm, 46 percent of younger women and 41 percent of older women improved.
The highest response rate occurred among younger women randomized to 900 µg of alprostadil, as they reported that 61 percent of sexual encounters were satisfactory. Older women had a 47 percent response rate.
With respect to secondary endpoints, younger women randomized to the highest concentration of topical alprostadil derived the greatest benefit versus placebo.
Last Updated: 05/25/2012
Benzinger issues three articles about CDXC...
Below please find a link to a recent article regarding ChromaDex Corporation (OTCBB: CDXC):
http://www.benzinga.com/trading-ideas/small-cap-analysis/12/05/2613801/blueberries-gold-bond-ovaltine-and-obesity-the-making
The other two articles can be accessed with links found in the first article.
From Smallcap Network 3/9/12
Does Somebody Know Something About ChromaDex?
Don't know if you've been watching ChromaDex (CDXC) or not lately, but there's something strange - in a good way - going on here. The stock had been in a tepid-but-decisive slide for most of February. The last two days, however, have been a different story. The stock's made a clear upside reversal effort and is still going strong.
In my experience, there's usually a reason for everything that happens.... especially in the world of small caps. We sometimes don't know what the reason is until after the fact, but somehow the market still 'knows' beforehand. I have to wonder if the market knows something about ChromaDex now.
I do know its Q4 and full-year earnings announcement is due soon, which may have something to do with the recent buying interest. Though there wasn't a lot of 'new revenue' news in the fourth quarter (most of the really good stuff was in Q3 or in the current quarter), the fourth quarter was the first full quarter the BluScience line was offered by GNC stores. Given how well-adopted it's been by other retailers in the meantime I have to think we'll see at least some fiscal traction for BluScience when fourth quarter numbers are posted.
Anyway, as I was doing some routine follow-up stuff with ChromaDex it struck me... newcomers can get into CDXC at about the same level the intuitional money got into it with the fund-raising from early February. They got theirs at $0.75 a share, and you can get it right now for $0.78. And, I'd be willing to bet if you left a limit order of $0.75 out there long enough, you could get that filled too.
It's not too often you can get the same deal that institutions get. Just sayin'.
13D filed shows Barry Honig's ownership of and recent purchasing of CRGC shares.. I tried to paste the link , but was unable.
(1) The Reporting Person voluntarily reports direct and indirect holdings of the Issuer’s Common Stock.
(2) Of the 4,790,683 shares, 3,657,822 shares are directly owned by the Reporting Person and 1,138,861 shares are owned as follows: (i) 200,000 shares are owned by GRQ Consultants, Inc. (“GRQ”), a company controlled by the Reporting Person; and (ii) 938,861 shares are owned by GRQ’s 401K plan.
(3) Excluded from the aggregate beneficially owned shares are (i) 150,000 shares are owned by Alan Honig, father of the Reporting Person and custodian for shares held by the Reporting Person’s minor children; and (ii) 3,535,000 shares are owned by various Uniform Transfer to Minor Act accounts for which Alan Honig is custodian. The Reporting Person exercises no investment or voting power and disclaims beneficial ownership of the shares owned in the name of Alan Honig or by accounts for which Alan Honig is custodian. Although the Reporting Person disclaims beneficial ownership of such shares, if aggregated, the percent of class represented by the aggregate amount beneficially owned and the excluded shares would be 8.9%.
(4) Based on 95,119,018 shares outstanding as of February 28, 2012.
Item 5. Interest in Securities of the Issuer
(a) As of the date hereof, the Reporting Person beneficially owns 4,790,683 shares of the Issuer’s common stock, which represents approximately 5.0% of the Issuer’s common stock.
(b) The Reporting Person may be deemed to hold sole voting and dispositive power over 4,790,683 shares of common stock of the Issuer.
(c) On February 23, 2012, the Reporting Person purchased 891,667 shares in a private transaction for $0.15 per share. On February 21, 2012, GRQ purchased 19,640 shares in an open market transaction for $0.22 per share. On February 23, 2012, GRQ purchased 325,700 shares in an open market transaction for $0.2249 per share. On February 24, 2012, GRQ purchased 10,000 shares in an open market transaction for $0.2425 per share. On February 27, 2012, GRQ purchased 10,000 shares in an open market transaction for $0.23 per share.
(d) To the best knowledge of the Reporting Person, no person other than the Reporting Person has the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of the 4,790,683 shares of common stock reported in Item 5(a).
Tommy,
Here are some other "Frost" companies.
LTS, ALQA, ARDM, DRJ, OPK, ICLK, IDI, NIMU, NOC, PBTH, PLX, ROX, SFES, TEVA, VGR
I think these are a few more, but not 100% sure.
KVIL, HITK, CDOM, CDZI, UPBS, UPST
SEC FilingsForm D
ChromaDex Corp. filed this Form D on 02/22/12
Document Outline
Entire Document (107.8 KB)
Subdocument 1 - D - Official notice of an offering of securities that is made without registration under the Securities Act in reliance on an exemption provided by Regulation D and Section 4(6) under the Act.
Page 1 - UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Insider purchases the other day from the offering:
Insider Holders*
Individual/Entity Most Recent Trans. Shares Owned as of Trans. Date
BRAUSER MICHAEL
Director Purchase
Feb 10, 2012 3,866,426
Feb 10, 2012
FROST PHILLIP MD ET AL
Beneficial Owner (10% or more) Purchase
Feb 10, 2012 14,652,937
Feb 10, 2012
HALPRYN GLENN L
Director Purchase
Feb 10, 2012 735,714
Feb 10, 2012
HIMMEL JEFFREY
Officer Purchase
Feb 10, 2012 1,433,333
Feb 10, 2012
HONIG BARRY C
Director Purchase
Feb 10, 2012 7,245,789
Feb 10, 2012
JAKSCH FRANK L JR
Officer Purchase
Feb 10, 2012 79,165
Feb 10, 2012
Someone please help me to understand if I am interpreting this correctly.
Today's PR said the company will receive double digit royalties. So a minimum would be 10% on sales. Correct?
In the prospectus filed the other day it said the anticipated market for Vitaros is $4 Billion (As an aside,Femprox also).
So if other partnerships are to pay 10% or better, we are looking at royalties of 400 million dollars, just for Vitaros!!
Even if the anticipated market is half of that, it still isn't too shabby!
Anyone else see it that way?
Metaxa,
Thank you for all the time you spend sharing info with us. I sincerely appreciate it. One question,after you spoke with Ed yesterday for 40 minutes, did you end the conversation pleased with what you heard?
TIA
Yes, I know the $20,000 is for outside investors. That is the minimum investment in this offering. But my question was..At what price is this going out at? 10 cents, 12 cents, 15 cents. And the heavy volume today with very little upward movement in the share price is why I asked if it was restricted stock and for how long or if it could be sold. Perhaps that is why there are so many news letters going out today. Maybe these "investors" are selling into the pump. If they pick it up at a dime and sell it at 18 cents, that's almost a double! One million shares picked up at a dime, and sold at .17 to .18 is not pocket change.
So does anyone know the offering price and any of the details.
Thanks for posting this filing. I tried to see the offering price but was unable.. Anyone read what the price is? And are these restricted shares.. For how long?
All I see is a $10,000,000 offering with a minimum of $20,000 per investor.
TIA
Any chance that SavWatt gets any military business? I know this article is about Solar Systems , but IMO, SavWatt has product(s) that could be utilized too!
US Military Bases Going Solar (FSLR, STP, YGE, WMT, KYO, SHCAY, RSOL, WEST, GOOG, BAC)
Posted: September 8, 2011 at 8:14 am
The US Department of Energy has issued a conditional commitment for a partial guarantee of a $344 million loan for solar PV installer SolarCity. The company will install rooftop solar PV systems on as many as 160,000 houses on US military bases. The so-called ‘SolarStrong’ project is expected create more than $1 billion in new solar PV installations and consume some 371 megawatts of solar PV modules.
The US solar sector has taken a beating in recent weeks with the bankruptcies of panel makers Evergreen Solar and Solyndra. Does this new project help any US solar maker or in any way advance US clean energy goals?
The answer to the first question is ‘maybe’. SolarCity does not manufacture any solar PV hardware — it is an installer that either sells or, more usually, leases the solar panels to homeowners and then collects monthly usage fees. The company signed a five-year deal in 2008 with First Solar Inc. (NASDAQ: FSLR) for a total of 100 megawatts of First Solar’s thin-film solar panels. SolarCity won’t disclose its list of suppliers, but it has worked in the past with Suntech Power Holdings Co. Ltd. (NYSE: STP) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), two of China’s lowest-cost providers of crystalline solar PV panels.
SolarCity has also used panels from US start-up Miasole to install solar systems on stores owned by Wal-Mart Stores Inc. (NYSE: WMT). Japanese panel makers Kyocera Corp. (NYSE: KYO) and Sharp Corp. (OTC: SHCAY) have also provided panels to the company.
Most of the US solar installers are privately held and relatively small. The exceptions are Real Goods Solar, Inc. (NASDAQ: RSOL) and Westinghouse Solar (NASDAQ: WEST), formerly Akeena Solar, which licenses the Westinghouse name and is not affiliated with Toshiba Corp. SolarCity and Google Inc. (NASDAQ: GOOG) created a $280 million fund in June of this year to help finance residential rooftop solar projects.
USRG Renewable Finance and Bank of America Corp. (NYSE: BAC) will be the lead lenders under SolarCity’s ‘SolarStrong’ project. SolarCity expects that up to “6,000 direct job-years” will be created by this project. The company employs 1,200 people now, so that’s either five years of work for these workers or at least a few new jobs. But very likely not 6,000 new jobs.
The US armed forces are working toward generating 25% of the electricity they use from renewable power sources by 2025, and this project will help that along.
On balance this project is probably only a modest success for US solar PV makers, unless the federal guarantee carries with it a mandate for sourcing only US-manufactured panels. And that’s not likely. Job creation is modest, and progress toward US military clean energy goals is also modest. One good bit of news is that it does not look like US taxpayers will lose their money this time like they most likely lost $535 million in the Solyndra bankruptcy.
Southern Gal,
Thank you for the info..
I guess there must be some "headwinds".
Thanks to whoever updated the home page. It looks great and the info and links are SUPER.
Thank you very much.
2nd UPDATE: SEC Halts Trading In 17 'Penny Stocks'Last update: 6/7/2011 3:26:20 PM(Adds new details in the second, 13th, 14th and 15th paragraphs.)
By Jessica Holzer and Melodie Warner
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The Securities and Exchange Commission halted trading in 17 microcap stocks it said had been hyped by Internet promoters despite a lack of reliable information publicly available about the companies. The mass-trading suspensions represent the SEC's first action to call attention to possible "penny stock" promotion schemes since it began a stepped-up effort last autumn to crack down on the proliferation of microcap-stock fraud. The SEC said stock-touting websites, Twitter users and often anonymous individuals posting to message boards have swayed the investing decisions of the public, which often doesn't have adequate information about the securities. Companies don't necessarily have to file periodic reports with the SEC for their shares to trade, particularly in the over-the-counter markets, where the stocks subject to Tuesday's trading halt were bought and sold. But rules require brokers, issuers and others to disseminate only accurate information about a company in connection with a securities sale or offering. As an example, the SEC said one of the companies, Calypso Wireless Inc. (CLYW), hasn't filed periodic reports to the SEC since February 2008. The company's shares rose to an intra-day high of 17 cents on Sept. 24, the same day a stock-promoting website allegedly encouraged investors to continue buying the stock. The stock traded at 4 cents on Sept. 21. In another example, several stock-promoting websites promoted Kore Nutrition Inc. (KORE) as a "winner" following the company's disclosures on Sept. 1 and 8, 2010, of new distribution agreements to market its energy drinks and the release of a company-funded research report that pegged the stock at $10.50. But the company's Sept. 30, 2010, quarterly report didn't mention the distribution agreements. Calypso didn't immediately return a request for comment; Kore couldn't be reached. "They may be called penny stocks, but victims of microcap fraud can suffer devastating losses," said Robert Khuzami, director of the SEC's division of enforcement. Aside from Calypso Wireless and Kore Nutrition, the SEC halted trading in American Pacific Rim Commerce Group (APRM), Anywhere MD Inc. (ANWM), Cascadia Investments Inc. (CDIV), CytoGenix Inc. (CYGX), Emerging Healthcare Solutions Inc. (EHSI), Evolution Solar Corp. (EVSO), Global Resource Corp. (GBRC), Go Solar USA Inc. (GSLO), Laidlaw Energy Group Inc. (LLEG), Mind Technologies Inc. (MTEK), Montvale Technologies Inc. (IVVI), MSGI Security Solutions Inc. (MSGI), Prime Star Group Inc. (PSGI), Solar Park Initiatives Inc. (SOPV) and U.S. Oil & Gas Corp. (USOG). Trading in the stocks will be frozen through Friday, June 17. After the shares resume trading, brokers and other financial intermediaries will have a heightened obligation to ensure the publicly available information about the companies' operations and financial condition is accurate. Last autumn, the SEC started a nationwide initiative aimed at targeting what are known as the gatekeepers in microcap fraud--brokers, lawyers, auditors, transfer agents and others that spread misleading information about companies--and bringing actions against them for multiple violations. The effort represents a shift from the SEC's previous strategy of going after microcap issuers one by one for single violations. The effort encompasses staff from all 11 regional SEC offices as well as numerous SEC divisions and offices aside from the enforcement division. Microcap stocks are vulnerable to fraudulent schemes because it is often easy for a bad actor to gain control over a large portion of the shares, hype the company to investors based on misleading information and then dump the stock. While many microcap companies are legitimate startups, a large portion are suspected of being complicit in such schemes or, at the very least, unwilling to correct false or outdated information being used by others to stir up interest in the stock, SEC officials said. -By Jessica Holzer, Dow Jones Newswires; 202-862-9228; -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com (END) Dow Jones NewswiresJune 07, 2011 15:26 ET (19:26 GMT)
Cloaked Protector,
Thank you for all of your very knowledgable input. Your logic makes a lot of good sense and the explanations are very clear. And Thanks for the link to the option site. Keep posting your thoughts. TIA
Everything you say makes perfect sense except when greed takes over. I bought the stock at $7.77 sold the May 10s for 1.25 and would have been very contact with the $3.89 or 50% profit delivering the stock at $10, until I saw the price go over 17. If the share price was at 12 or 13 at expiration I wouldn't feel so bad as it being at 15+. But I am thinking this is going back up after the VCs finish selling their stock to keep them below 10% ownership allowing them to purchase their $1.50 warrants. I am hoping that this retracement will bring the share price back down to something reasonable before the Marine presentation takes place, be content with the profit and just buy more stock.
Thanks for your explanation which is dead on accurate. AND GLTA
Cloaked,
I understand what you are saying. I too sold 30 contracts covered calls for May 10's and recieved $1.25 each. So in essence I will end up with $11.25 per share.
However, I am debating whether I want to buy back those calls, and then either hold the stock or resell May 15s. I do the math and although I would take a bath on buying back the calls, if I sell a higher priced call I would come out ahead.
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