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I got into it for the same reasons in the last two years.
Unfortunately, what I've discovered with these micro-cap biotech stocks is that their promise is never realized. Look at CORX. Same story. I've held that loser for 15 years. It's worth 10% of what I paid for it.
PTN managed to go to 10% within two years.
I hate micro-cap biotech. I would suggest nobody ever get caught up in the dream. Just avoid it and keep your money.
MF4
Food4,
I'm a huge Packer fan!. I put $20 on them to win the superbowl before the last Bear game of the season. I got 12:1 odds.
I think the bottom is in, but it will be 7 more years before the economy is running 50% better. It won't get back to half a decade ago because that was all based on pure BS housing inflation. Yes, we have become more frugal. This is the new normal.
The best stimulus for the economy going forward is a 5+% savings interest rate. Then, the frugal people will actually buy luxury goods. The only people spending now at these interest rates are survivors buying essentials. That's why the QE2 etc. is killing our country. Yes, it improves the wealth effect, but if only the super-rich are spending, it won't trickle down.
As far as housing goes, it will stabilize here because you can't build a new house for these prices. Eventually, all of the bargains are absorbed and the market will boom when it costs 2-3 times as much to build new. Well, maybe no boom.
In order to get that high savings rate, the government has to stop deficit spending, which they're too stupid to do. So, a currency crisis is inevitible. Silver is the only good investment other than Canadian and Australian dollars.
The American way of life is done. Both parties in power are intentionally cratering our currency because they have been directed to do so by the globalists that want a one-world currency. They either want this to rule the world with a common system. Or, the beast will take it over when the pieces are in place. Laugh at Ombow all we want, but that part of the prophecy looks to be surprisingly on-course.
MF4
Hey Oxbow,
With all due respect to your stock picking prowess, I would remind you and everyone tempted to act on your call, that you thought CORX was a winner too. Buyer beware.
MF4
Jerry,
I don't care anymore if I lose the last few grand I have in this stock. The CX717 FDA bomb from $5+ to $2 in one day was what, 5-6 years ago? Since then, the IP has aged and nothing good has been accomplished.
I would be fine if they just about gave it away, as long as it was soon and to a strong BP that was going to aggressively test and develop ampakines. I could buy leap options on THAT company with a reasonable expectation that eventually ampakines will see commercial sucess.
With this management, nothing constructive is ever accomplished. Do it for the rest of the world that suffers from ADHD and RD. My pittance is just about evaporated anyway. If this science is real, do a deal, if only for the sake of humanity. Please!
MF4
Or it could be the fact that this company is nothing more than a guy driving around in a humvee and filing mining claims.
MF4
GFP,
With all due respect, you've been predicting a buyout, post-financing for many years now. In all likelihood, nothing will change.
However, past results have shown that a dilutive financing follows pretty soon after release of (seemingly) positive news.
MF4
Any positive response is immediately removed with the realization that current management is still just limping along with no proven ability to advance the platform in a paralel way. No prospects for improved funding, etc.
As long as this failed model of the last 15 years is the status quo, I will not buy another share. I want to see the CORX compounds in the hands of a true BP that values them as a top-3 priority. Anything less, and CORX goes the way of other pink sheets with much "potential" like PTN.
MF4
Perhaps, what's really needed is an overhaul of the FDA process? The barriers to drug development are high cost and liability, which is typically shouldered by the U.S. population in the form of high drug prices before going generic. If the FDA could be encouraged to streamline the process, perhaps Cortex could get something going?
MF4
SA is a difficult indication. How would CX1739 compare with melatonin, caffiene, speed, nyquil, etc? I would suggest that CORX retain SA rights as a sweetener in a deal for an indication that is more black/white as to cause/effect.
MF4
The good news is that even with ambiguous data, management is finally learning how to apply "spin". Now, if they could do that in negotiations, we might have a prayer.
MF4
The pick-up truck needs more gas. No cell phone/internet out there.
DING, DING, DING!
I finally get it. Stoll and Varney are actually insane. They truly believe the timeline when they give it. They just don't realize that they have to actually do something, to make the timeline come to fruition.
In their deluded minds, they actually believe they have workers that they can delegate to and things will get done. The lights are on but nobody's home. It finally all makes sense. And it only took me 15 years to realize what was happening. D'OH!
MF4
Split-adjusted, I bought in at $5+. I would caution would-be investors that this is a typical biotech, pie in the sky, carrot at the end of the stick pipedream.
Want another one? Check out CORX. 15 years and counting. Endless dilutions, then reverse splits ever 5 years or so. Nothing ever comes to fruition.
MF4
I've got Beefheart's "Floppy Boot Stomp" on my Ipod. Also like "Harry Irene". Very unsettling, but melodically interesting stuff.
MF4
If so, #14 would have reported interesting side effects. I can't remember who #14's buddy on Ihub was, but I don't recall him saying anything interesting happened.
MF4
Alert,
Yeah, they put it all on black, but it landed on double zero. Kind of appropriate actually. They're running on fumes because of their gambling addiction. Plus the booze and the broads run out with no cash around. It's just prudent to get your ducks lined up. Not much cash to splash around anymore.
Time for another dilution and a new carrot on the ever-lengthening stick. Can't wait to see how these charletans spin this!
MF4
I guess that would put me in the pessimist camp. This management team sucks. No if ands or buts. End of story. Put a cork in it. God, I feel like a loser for ever buying this turd!
MF4
OK, I see it. Huh. What a surprise (not)? More booze, broads and internet poker. Still no word on SA. Now, I'm waiting for the cavalcade of apologists. God, this management team sucks!!!!
At least I should be on a higher level of hell hopefully and I can dole out some much needed pusishment to these weasels.
MF4
Not that I doubt more dilution, but I can't find a press release. Please supply a link.
TIA,
MF4
IRVINE, CA (November 10, 2010) — Cortex Pharmaceuticals, Inc. (OTCBB (CORX)) announced that it had been notified by Les Laboratoires Servier (“Servier”), France’s largest privately held pharmaceutical company, of their intent to move forward into Phase I clinical studies with the jointly-discovered High Impact AMPAKINE® compound S47445 (CX1632).
Anybody know what's up with this?
MF4
It's probably just a good opportunity to short sharevault. If you're using MV quotes to sell your company, you're in trouble. What's their ticker?
MF4
It appears that having something in phase III is a good start.
MF4
If they were private, how would they be able to issue shares and keep funding the booze, broads and internet poker?
MF4
corwatcher,
Thanks. That's good to know. How did you happen to know #14, if I might ask?
MF4
corwatcher,
Did you happen to glean any other effects from #14? Did he have any feedback about the drug? His perception of the drug?
MF4
Which I interpretted as: Booze, broads and internet poker.
MF4
That's amazing because I also emailed Dr. Varney today and was amazed at how quick he responded:
Mark, I have been a shareholder for some 16 years now and I heard that you were exploring strategic options for the company. Can you tell me anything about the progress of that approach and the names of any interested paries?
His reply:
Dear Mr. Fest,
We have been hard at work analyzing the data and sizing up the players at the table. We have found that sometimes it is necessary to bluff a bit and imply that the cards we hold are stronger than they actually are. This approach has been moderately sucessful for years, though at times it is necessary to add funds by whatever means necessary.
The talent around here can be quite expensive at times, and we often have to wine and dine them to get favorable treatment. But, I assure you, things are just aces here at Cortex.
All the best, Mark
Ombow,
Next time you write Mark, you should ask him where to send the bill for your services?
It seems that your I-Hub postings are the only communications shareholders receive from MV. They should at least pay you for your PR.
MF4
It was 1999 or 2000 when I was touring the country and stopped in for a visit. I met one of the Gary's and got a tour. They had offices. I think I saw a small lab, but it wasn't being used. I left feeling it was legit. But I was more naiive back then.
MF4
Thanks Patco. Just send me the shares as single certificates please. Cheaper than toilet paper that way.
MF4
I'd like to thank all the little people. It's a great honor to win this award. Is there a prize, or a trophy?
MF4
Hi Brian,
Well, it's nice to know that somebody else's stick is longer than mine. It's only 15 years of carrot chasing for me. I learned about CORX from a Barron's article about promising biotech. CORX was trading in the low $2s in 1995.
I've held this POS since then. They always seem to keep the lights on. There's nothing like seeing $50K become $2K to teach one to always be cautious. These biotech stocks are extreme longshots at best. PTN has declined some 90% since I read an article about Bremalanotides a year or two ago. I only threw a few hundred at that, thankfully.
MF4
One insider named David Gelbaum purchased $1M worth of ESLR, held in the name of his Trust because his options at .07 were about to expire at the end of the year.
He probably sold all the stock at market and made about $6M.
That would be my guess.
MF4
DING!
God, the powers that be stage everything, don't they? The wholy-owned media complex is simply a propaganda tool anymore. What is real news? I hope others are starting to wake up and stop scoffing at us.
It's no longer a theory. Conspiracy is fact.
MF4
In other words,
"There's still money in the coffers to cover the booze, broads and internet poker, so we'll give you an update soon enough. That is, when we run out of cash, we'll put a decent spin on whatever stretch we can come up with and extend the carrot out even further."
Yes Jerry,
Tell us what Ms. Cleo said.
This inuendo-laden speculation reminds me alot of the General Urko days. Nothing ever came of that guy.
MF4