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LOL Rubco,
You're the one who has been sitting here pumping this thing for years while it has done nothing but tank. At least for the past year I have correctly predicted which way this thing was going without REAL shareholder action, and I have at least been making an effort to sway people to listen to reason and not to your blind pumping. If I convinced even ONE person not to buy into your hype I feel like I've accomplished something.
Since your little letter was submitted, if there actually was one, this stock has done nothing but tank. So do you still insist that everything is just fine, that xkem will soon be going to a dollar, and that the wild xkem victory parties will be held soon? LOL! Probably so. Too bad this is a family channel or I would give you my real opinion on pumpers.
Btw, you know nothing about what I am doing on my own behind the scenes. I may not get my money back, but I am making a serious effort to see that these guys are held accountable for what they have done here. You on the other hand, will continue to just sit and blister.
Thanks much Dave. You can count me in on the applying pressure part. Good work.
And don't forget to never buy a stock that is pumped on a message board by certain people who are always inclined to support management. That is a big NO,NO!
What fiat? If you want this dying company to go under, then YOU are happy with extemely inflated profit margins. If you want this company to gross enough revenues and obtain enough market penetration to survive, then you want to make a REASONABLE profit margin a priority. Your approach of garnering as much margin as possible form the THIRD WORLD Nigerian people clearly has not worked. The idea of that is LUDICROUS. Look at the numbers form the recent PR if you need evidence. Maybe you need to visit that library you were referring to for the purpose of learning basic business knowledge. It might result in more relevant postings.
I hope so, but where you get that number of $100 per month is a mystery to me. Even IF someone in the company told you so, I'm sure that number is subject to change. I very much doubt that xkem has spent heavily on market research on the demand for Nicosan in the United States. I would be extremely surprised if they have even begun that process. They will most likely sell it for what they can get for it. What that number is has yet to be determined I would bet. I would be overwhelmed with joy if this management has even considered how they plan on marketing and selling Nicosan in the United States. I wouldn't be surprised if they only plan on selling it online, as doing otherwise would take brain power, know how, money, and the desire to succeed. I think they are lacking in all four of those departments. Well, maybe they are not lacking in brain power as far as turning a buck for themselves. As usual, we shall see.
Yeah right fiat. The success of the company to them and their pocketbooks is likely to be well below .0009, while the success of the company for long-term holders of this stock is likely to be ridiculously higher. Give me a break!
In other words fiat, you have no clue as to the GPM for producing this "drug" over there currently IN NIGERIA. Why even answer my post if you have no answer? Somehow I think everyone knows the PURCHASE PRICE of Nicosan in Nigeria. You basically confirmed my point by saying that the GPM was 87% IN THE PAST. That is too high if you want the drug to have marketability in a third world country.
Yeah, who knows what the actual production cost numbers per unit are over there, but they should of tried the low margin route in Nigeria. If it works as advertised, it is obviously too expensive.
The people that are "workers" for the swifty/basu gang on this board wanted to hang Pandey, and unfortunately many here followed the sentiment of those "workers." Anyone that thinks that there are not some very prominent "workers" for swift/basu on this board is not very observant. On the other hand, Pandey IS the one who let the fox in the hen house. No matter how things may seem, true friends are few and far between on these message boards.
You're correct about that. I am sure that the "wolves" who work for these guys and have infested this board for years are laughing their arses off right now. Just one big ridiculous game.
I thought they were using a monkey already? A very greedy monkey.
Right on the money pickleking. They clearly shut us out of the process illegally. Those boys sure got some cojones I'll give 'em that. Hope they pay for this insanity in a big way. Sweet justice would be a few years in a Nigerian prison.
The only way to vote them out would be via a shareholders' meeting. Fiat is incorrect when he says that you cannot have a meeting without up to date financials. The situation with the financials only affects the company's ability to solicit proxys. Obviously it would take court action to force the company to provide a list of shareholders and set a date for the meeting. That action should be taken sooner rather than later IMO.
I do wonder just how much voting block power that this board truly has? Do we TRULY have any 50-100+ million type shareholders who would show up in support of our cause? I guess it's possible that the information collected from that letter to management could provide a starting point for that calculation. Hopefully those numbers are more legitimate than the one's collected last year. I suspect that those numbers were ridiculous inflated by some.
Many here are justifiably still PO'ed at Pandey for the way things have transpired, but hopefully IMF is serious about getting Pandey involved in the process. I'm guessing that he is still a major shareholder, and I suspect that he knows quite a bit more of the behind the scenes details than anyone on this board. Also, I think you are correct in that we should try and find someone from this message board to represent us on the BOD. It's probably time to find out just who here has the basic qualifications.
Anyway, legal action originating from a stock message board with members spread across the world would not be an easy task. It obviously would take quite a bit of organization, and that organization would likely need to include some major shareholders and be executed ASAP IMO. On the other hand, I guess we could all just sit on our arse's and blindly hope for the best. Forgive my rambling and BOL to us all. All TRUE longs that it. LOL!
Hope you're serious about visiting and the place isn't boarded up on Monday. I'll chip in for the booze if you're serious. I want you guys all liquored up when you get there. If no one is home, just tailgate in the parking lot until they show. LOL!
Correction: When I said xkem's inability to solicit proxys was a GOOD thing for us, that is not necessarly true. I think it would likely depend on the timing and shareholder participation at the meeting.
LOL! Uh, again you are wrong fiat. Without current financials, xkem would be prohibited from soliciting proxys. That is a GOOD thing from our vantage point. Shareholder's meetings are generally governed under state law, with the SEC only being involved with a few procedural matters. Here is an example if you don't believe me. And yes, BEA Systems is a Delaware corporation. Good job Rambler.
http://news.cnet.com/BEAs-financial-restatements-key-to-warding-off-Icahn/2100-1014_3-6216806.html
If you are serious IMF, what is he waiting for? The obvious first step would be getting his foot in the door. As you indicated, BOD cooperation is likely the only way in at this point. Pandey certainly has my approval, and probably even the approval of all the former, and even current, Pandey haters on this board. Go for it!
Better start the legal proceedings ASAP, because that is the ONLY way we're going to get a shareholder's meeting. In hindsight, those legal proceedings should of happened a year ago.
I saw no need to replace Pandey. He may have been slow and made more than a couple of crucial mistakes, but he got us to the lip of the cup. It appears that the only good move I made with this stock was to lighten my share load by 50% when he got dumped. When investment banker/hedge fund types takeover a company, it is generally not exactly a good sign. Sometimes you can go along with them for the ride, but generally they are out to screw everyone but themselves. Too bad I wasn't smart enough to listen to my own advice and dump 100% instead of 50%.
I'n sure you saw the movie Wall Street. Basu plays Michael Douglas, and we play the airline. Too bad we don't have a Charlie Sheen.
Anyone here ever experience an ihub board closure upon disappearance of a company? I only ask, because an alternative discussion location may be wise to have if this board suddenly goes bye bye.
You guys and gals have a nice evening. I've ranted and raved about xkem enough for one day. GN.
If you must know fiat, I have read it in the past but not recently. If it doesn't bother you too much, I was simply throwing out a tad of blind speculation on a stock message board, because there is very little that I would put past the management of this company. Now, go ahead and respond with one of your thinly veiled paternalistic little comments in defense of management, and I will respond in kind. I can't say I'm often very impressed with them.
If this company goes away, the lawsuits against these guys are going to make the current lawsuits look like chicken feed. Swift intentionally denied us our shareholder's right to participation. Therefore, it is apparent to me that the BOD is only there to represent the best interests of themselves and management, and not the best interests of the shareholders. They have a fiduciary duty which clearly has been violated, and I think that just about anyone can see that.
I wouldn't be surprised if they neglected to mention in the PR that they did a deal with Swifty at .0007, and therefore the conversion price for all dropped to .0007. Wouldn't surprise me a bit.
Hope it doesn't involve bringing in another Basu to save the day. LOL! In theory at least, I prefer almost anyone to current management because I question their motives, but Pandey is the one that originally fired up that 14.5 billion share printing press and sent this thing into a downhill spiral. So how does Pandey plan to execute his strategy? Hostile takeover, or try and settle the lawsuits with a stipulation that he gets to come back home and be THE MAN?
Another question is, was that bone they threw us yesterday all they plan on feeding us, or was it the beginning of many bones? It's hard to believe that they are anywhere near ready for a PR blitz, but I guess we still know very little about the details behind the scenes.
If this stuff TRULY works as advertised, then what happened around here is TRULY a travesty. Not just talking about for the shareholders of course, but I'm also referring to the sufferers. Amazing that the wealthy government in Nigeria has yet to make a move to help so many sufferers. You would think that there would be riots in the streets, as word of the efficacy of this drug should of spread across the country by now. Kind of makes you wonder.
Well, at least the company "appears" to be making some effort to bring the drug to The West as a nutraceutical. The FDA clinical trials process would have been hopelessly expensive anytime soon without a partnership of some kind. It's just too bad that our management sux so much. Our management, both past and present, should have found a way to bring in a measly few million bucks to bring a efficacious drug to market without signing over a potential 14.5 BILLION shares. Kind of makes you wonder just how well this whole scenario was planned out.
Nicosan providing a billion a year in revenues? You may have a long wait on that one there fiat. Unless of course that Nigerian prepurchase miracle occurs. Also, you can forget about a buyback anytime soon. Somehow I think they need all available cash for other purposes. You suddenly sound like the ultimate L O N G - T E R M investor now, whereas you used to sound like everything was just around the corner. Oh how things change! LOL! I'm through bouncing back and forth from my spreadsheet project to stock message boards and am ready to call it a day myself. It will do no good, but maybe we can argue again tomorrow. GN.
They didn't tell us. That means we could possibly be receiving very bad news at any moment. Not predicting that, but it certainly is a possiblity.
Well than maybe we need a REAL business person to run the company! Certainly not suggesting you in any way, but it probably wouldn't be too hard to find someone better than Swifty to run this company even on this message board.
No that does not help at all here fiat. As any experienced investor who invests in micro-penny stocks such as xkem knows, it is very wise to clean things up as quickly as possible before you fall into the abyss. To languish in or near BK for extended periods of time means that you could cross the line of survival and be gone at any moment. This company, more than most companies in this precarious situation, needs to be fixed ASAP before it crosses that line into oblivion. There is very little room for error here. Your dream of this company attaining a level of .15 prior to a R/S is fantasy at best. Fifteen cents a share does not happen in a 16 BILLION fully diluted share company such as this short of a miracle. This company should not be concerned with attracting mutual funds and such at this point in time. The idea of that is laughable for a company in this situation. If the Nigerian government suddenly says they will prepurchase Nicosan for every child in the country that will qualify as a miracle. Otherwise, you are just having a fifteen cent dream. Btw, the 1 for 3000 split occured at a drastically different stage in this company's development. To compare the two is ridiculous, and is akin to comparing apples and oranges.
Oh! Interesting IMF. Always smart to look below the surface.
I agree Lochute, that is one of the good signs. Unless of course, there is something sinister going on there. LOL! I can't help but be suspicious about this guy's (on the surface) altruism.
Yeah, fiat and company either just don't get it, or they have an agenda separate from the legitimate longs here. For common shareholders here, it is no longer really all about Nicosan, Pandey, or even the new management that was forced upon us. It is now about the share structure. Darn close to the most ridiculous share structure imaginable, and it is going to be a major uphill battle from here on out. What is a debt laden company like this to do with 16 BILLION fully diluted shares outstanding? I HATE reverse splits, but if we are fortunate enough to survive as a trading entity, I see no other choice at this point. I just hope that it is along the lines of 100 to 1 instead of the massive split that happened a few years back. That would leave us with a fairly manageable 160 million fully diluted shares outstanding. I actually hope it happens fairly soon, but it won't happen until they get things straight with the SEC. A R/S would also make it more viable for us to use equity financing (NOT AGAIN!) along with a potential Nigerian IPO to help deal with the massive debt that has accumulated here. Sometimes you are left with few alternatives. A R/S would be better than letting Xechem International just slide away into oblivion. That is of course if management can truly MANAGE this company after the dust settles.
No answer fiat? I, nor the company, ever said that Nicosan would be priced the same as it is currently in Nigeria. I simply used those numbers for comparison purposes as those are the only numbers available as far as I know. If you know better, please disclose your source. Also, your "more than 50x" numbers in regard to "prescription" Western sales of Nicosan is ludicrous. Over $13,000 a year per patient just ain't gonna happen anywhere.
Where did you hear that? A little birdie I suppose?
Why we still have that expensive office in Edison, NJ is beyond me. Guess Swifty likes to throw away money on image. If image would somehow help us clean up that 14 million in LTD than I'm all for it. If not, then we should be "operating" out of the cheapest mini warehouse available in Jersey.
Yes, any sales are wonderful, but even if we can somehow get 2/3 market penetration in the U.S. AND Europe, we are only talking about two million a month in sales if it is sold at current prices. Twenty five million a year in nutraceutical revenues from the U.S. and Europe is not a bad piece of change, but not quite the numbers we were hoping for if it were to be covered by insurance in The West. Maybe HMF can eventually help out, but they still have a long row to hoe there in regard to clinical trials.
Yeah, the transition in power both within Nigeria and within xkem were both worrisome events. Anyone roughly know the percentage of sufferers that reside in the Christian South as opposed to the Muslim North? I suspect that it is more prevalent in the South. Along with the obvious financial benefits that a successful Nicosan would provide the former Christian president, I wonder if religious factors have played any part in the new government's minimal interest.