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What kind of hyped PR are we getting after-hours tonight?
I'm really hoping this stock isn't just hype.
I own a fair amount of shares in CEHC, as well as BYSD. I want them both to run up sky high, just like everyone else. We need NUMBERS from these companies. Until then, they're not going to move much at all. I see great potential with the Bitcoin stocks, but we need real financials.
This week, possibly?
The run will start when we get a PR with NUMBERS! Until then, it's nothing but hearing the terms "consolidate" and "accumulate" and "churning."
Where's our PR with numbers? This thing isn't moving unless we get one and it's good.
Gotcha. Thank you. Does this really prevent some from buying?
What is the "stop sign" some of you are talking about?
I saw that, but I'm wanting to see more directly related PRs to these other sources. A PR directly from CEHC will look much better.
I got in today after looking at everyone's posts and because this is a hot sector. My question is...why aren't there any recent press releases? What about financials? For now, I'll just ride the wave, but I'm hoping there is a catalyst.
Gee...another PR...without numbers. I guess it's better than nothing.
DALLAS, TX--(Marketwired - Mar 2, 2015) - Bayside Corp. (OTC PINK: BYSD) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin in Singapore. Additionally, Bitcoin is also available for sale to consumers in Singapore through the Vault 51 website. The launch is part of the initial steps in the company's Vault 51 international expansion plan in Asia.
Currently, Asia represents 60% of the world population and 20% of the world economy. "The launch in Singapore represents an exponential amount of potential for Vault 51's first stop in Asia. In the long run Asia offers many intriguing possibilities as we continue to see the number of merchant adoption grow in that region."-Gordon Johnson, CEO Bayside Corp.
Vault 51 is an offline storage system for Bitcoin users, which is represented by a Physical Bitcoin. The electronic Bitcoin is then stored off-line in a secured computer chip known as Vault 51 and embedded in a Physical Bitcoin, which is not connected to the internet. This process is also known as cold storage and is done to avoid hacking, loss, or theft.
The thing is that all this is rumor until we see a PR with NUMBERS! We need an 8K!
Everyone talks about "churning" and "consolidation." Everyone who owns shares is ready for this to go up...way up. I'm tired of the blah-blah PRs and ready for NUMBERS! The PRs we've seen only make the stock go nowhere or go down. WE NEED NUMBERS!
Hello? Is there a PR with numbers? No? Okie-dokie. I'm not surprised.
Give us a PR with NUMBERS!!!
30 minutes without a trade. WTF?
I agree. I just don't understand why the dropping and stagnant PPS over the past few days. With everything in the works, this should be a steady climber. We need NUMBERS!
15 minutes between trades? We're down today? Come on, Bayside...we're waiting for you! Live up to the hype!
What we really need is a PR with NUMBERS!!!
Gee...another tick upwards...hmmm...
Hello, Bayside! Where is the PR with the numbers? Hello? Hello?
What kind of PR are we getting after hours today?
The additional shares are for funding of what they need for this drug to do its thing. Thank you, Nadia for letting us know! This thing is going to fly in the next few weeks! I hope you're well invested!
This is a post on the Yahoo message board for BYSD. What do you guys think?
Feb 28, 2015 5:38 PM Flag
1users liked this postsusers disliked this posts0Reply
San Francisco Based Coinbase In Acquisition Discussions With Bayside Corporation (BYSD) Ventures Sierra Equity, Also The Most Undervalued Stock On The OTC ASAP Expo (ASAE) https://search.yahoo.com/search?p=sierraworldequityreview.blogspot.com/2015/02/san-francisco-based-coinbase-in.html
San Francisco Based Coinbase In Acquisition Discussions With Bayside Corporation (BYSD) Ventures Sierra Equity, Also The Most Undervalued Stock On The OTC ASAP Expo (ASAE)
https://search.yahoo.com/search?p=sierraworldequityreview.blogspot.com/2015/02/san-francisco-based-coinbase-in.html
Financials just posted to Yahoo:
http://finance.yahoo.com/q/is?s=rcha
Good thing or bad thing???
From traders350.com:
Rich Pharmaceuticals Inc(OTCBB:RCHA) Updates On RP-323 Study Drug
BY HILDE PURVES • FEBRUARY 26, 2015
Rich Pharmaceuticals Inc(OTCBB:RCHA), a clinical-stage biotech firm that develops novel therapies in oncology, said that it has accomplished a GMP clinical batch of its key RP-323 trial drug. It was developed at the advanced facility of Wuxi Apptec Biopharmaceutical in Shanghai.
The information
Rich Pharmaceuticals Inc(OTCBB:RCHA)’s new batch of its trial drug RP-323 represents a second-generation compound that has enhanced levels of usability and stability. The company developed the new batch and all regulatory testing initiatives last year. It transferred the technology to Wuxi Apptec for further processing of RP-323. Currently, the study drug is in the final testing phase at Wuxi Apptec. It is anticipated to reach clinical sites in coming month for the upcoming scheduled clinical trials.
New Drug Application
Rich Pharmaceuticals submitted Investigational New Drug Application for its Phase 2 study to assess the safety and efficacy of drug RP-323 in patients with MDS and AML in October 2014. As per the requirement of IND, Rich Pharmaceuticals Inc(OTCBB:RCHA) was required to produce sufficient quantities of drug RP-323 under GMP guidelines.
Potential drug
Rich Pharmaceuticals CEO, Ben Chang, said that RP-323 is a potential drug candidate of company that can prove to be an effective treatment for people suffering from AML and MDS. The study of RP-323 is going on as planned with the help of Wuxi Apptec, who is a partner in the manufacturing process of RP-323. Rich Pharmaceuticals Inc(OTCBB:RCHA) expects to get approval for its IND soon.
The scope
Rich Pharmaceuticals Inc(OTCBB:RCHA) is a leading biopharmaceuticals firm that intends to develop promising treatments for Acute Myelocytic Leukemia. AML is a problem of white blood cell elevation. It also wants to develop treatments for Hodgkin’s Lymphoma and other severe blood related diseases. The primary goal is to increase refractory patients’ life expectancy and also quality of life. Its lead product candidate, RP-323 is developed to cure blood and cancer-related diseases by using non-evasive outpatient facilities.
I agree we need to see some financials, but this still makes no sense why we've had a downfall and a stagnant PPS now. When will we see those financials?
Does anyone know when the financials will be released?
DALLAS, Feb. 25, 2015 /PRNewswire/ -- Bayside Corp. (BYSD) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin is now available to all consumers within the member countries of the European Union. The expanded European launch is part of the continued steps in the company's Vault 51 international expansion plans.
The sale of Bitcoin is also available to consumers in all the EU member countries through the Vault 51 website. "Now more than ever the need for Bitcoin security is at a climactic point. Even as recently as of January of this year the second largest Bitcoin exchange reported the theft of over 19,000 BTC." - Gordon Johnson CEO Bayside Corp.
Vault 51 is an offline storage system for Bitcoin users, which is represented by a Physical Bitcoin. The electronic Bitcoin is then stored off-line in a secured computer chip known as Vault 51 and embedded in a Physical Bitcoin, which is not connected to the internet. This process is also known as cold storage and is done to avoid hacking, loss, or theft.
Official Vault 51 Website
Official Facebook Page
Official Google Plus Page
Official Twitter Page
Bayside
Bayside Corp. is an American multinational corporation that manages multiple subsidiary companies engaged in a variety of business industries and sectors. At Bayside Corp. we believe that the future is now and that our efforts today will have a long lasting impact for generations to come. For additional information on the Company visit our website at: http://www.baysidecorp.com
Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on Bayside's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Bayside's experience and its perception of historical trends.
The forward-looking statement in this news release includes reference to: Bayside's ability to execute on its strategy and deliver strong results on behalf of its shareholders. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties; some that are similar to other related companies and some that are unique to our company. Bayside's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them
Contact: Bayside Corp., info@baysidecorp.com, 800-719-1310
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bayside-corp-announces-the-launch-of-vault-51-all-eu-member-countries-300041713.html
These past two days don't make any sense with the news we're getting.
Form 8-K for RICH PHARMACEUTICALS, INC.
24-Feb-2015
Unregistered Sale of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
On February 23, 2015, Rich Pharmaceuticals, Inc. (the "Company") issued 36,643,945 shares of Company common stock to satisfy the conversion of $17,002.79 of a convertible note payable with Toledo Advisors, LLC, and on February 24, 2015 the Company issued 20,447,291 shares of Company common stock to satisfy the conversion of $9,487.54 of the same note payable Toledo Advisors,
LLC. The issuances of the shares were made in reliance on the exemption provided by Section 4(2) of the Securities Act of 1933, as amended (the "Securities Act") for the offer and sale of securities not involving a public offering. The Company's reliance upon Section 4(2) of the Securities Act in issuing the securities was based upon the following factors: (a) the issuances of the securities were isolated private transactions by us which did not involve a public offering; (b) there was only a one investor who was an accredited investor; (c) there were no subsequent or contemporaneous public offerings of the securities by us; (d) the securities were not broken down into smaller denominations; and (e) the issuances of shares were pursuant to a convertible note payable which was negotiated directly between the investor and the Company.
On February 23, 2015, the Company issued 47,090,000 shares of Company common stock to satisfy the conversion of $22,603.20 of a convertible note payable with JMJ Financial. The issuance of the shares was made in reliance on the exemption provided by Section 4(2) of the Securities Act for the offer and sale of securities not involving a public offering. The Company's reliance upon Section 4(2) of the Securities Act in issuing the securities was based upon the following factors: (a) the issuance of the securities was an isolated private transaction by us which did not involve a public offering; (b) there was only a one investor who was an accredited investor; (c) there were no subsequent or contemporaneous public offerings of the securities by us; (d) the securities were not broken down into smaller denominations; and (e) the issuance of shares was pursuant to a convertible note payable which was negotiated directly between the investor and the Company.
The total number of outstanding shares of common stock of the Company as of February 24, 2015 is 964,269,966.
DALLAS, Feb. 23, 2015 /PRNewswire/ -- Bayside Corp. (BYSD) today announced the completion of the one hundred percent (100%) sale of the common stock of Bayside Petroleum Company, Inc. to Technis Energy, LTD. (GXG:TECN). Bayside Petroleum Company, Inc. is now a wholly owned subsidiary of Technis Energy, LTD.
Additionally, consideration for the sale includes $5,000,000 of Preferred Stock of Bayside Petroleum Company, Inc. and cash consideration. Moreover, Common Stock shareholders of Bayside Corp. will also receive a stock dividend of Bayside Petroleum Company, Inc.
To continue, the Bayside Corp. management will be filing a Corporation Action with FINRA to issue stock dividends as a result of the sale. The details of the transaction will become available to the shareholders once FINRA has approved the Corporate Action.
Further, upon approval of the Corporate Action, and the appointment of the new Bayside Petroleum Company, Inc. management team, Bayside Petroleum Company, Inc. will seek to file a registration statement to initiate the quotation of its Common Stock on the OTC Bulletin Board.
About Bayside Corp.
Bayside Corp. is an American multinational corporation that manages multiple subsidiary companies engaged in a variety of business industries and sectors. At Bayside Corp. we believe that the future is now and that our efforts today will have a long lasting impact for generations to come. For additional information on the Company visit our website at: http://www.baysidecorp.com
About Technis Energy Limited
Technis Energy is a British Virgin Islands oil company that owns and operates more than 50 oil wells in the USA primarily in East Texas. The East Texas Oil Field is the one of the largest oil field in the United States, having more than seven billion barrels of oil in place, and having produced more than 5.5 billion barrels, or about 78% of the original oil in place. http://www.technisenergy.com
Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on Bayside's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Bayside's experience and its perception of historical trends.
The forward-looking statement in this news release includes reference to: Bayside's ability to execute on its strategy and deliver strong results on behalf of its shareholders. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties; some that are similar to other related companies and some that are unique to our company. Bayside's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them
Contact: Bayside Corp., info@baysidecorp.com, 800-719-1310
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bayside-corp-announces-the-completion-of-5000000-sale-of-subsidiary-company-300039946.html
Form 10-Q for RICH PHARMACEUTICALS, INC.
23-Feb-2015
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Company Overview
Recent Developments
On August 9, 2010 we were incorporated as Nepia Inc. in the State of Nevada. From August 9, 2010 to July 18, 2013, we were in the business of developing, manufacturing, and selling small boilers aimed at farmers primarily in Southeast Asia.
On July 18, 2013, we designated, from our 10,000,000 authorized shares of preferred stock, par value $0.001, 6,000,000 shares of Series "A" Preferred Stock. Our Series "A" Preferred Stock has voting rights of 100 votes per share and vote with common shares as a single class.
On July 18, 2013, we entered into a Memorandum of Understanding and Asset Assignment Agreement (the "Assignment Agreement") with Imagic, LLC dba Rich Pharmaceuticals and Richard L. Chang's Holdings, LLC to acquire certain assets including United States Patent No. 6,063,814 entitled "Phorbol esters as anti-neoplastic and white blood cell elevating agents" and all related intellectual property associated with the patent. In consideration for the newly acquired assets, we agreed to issue Imagic, LLC a total of 198,625 pre-split shares of our common stock and to issue Ben Chang 6,000,000 of our newly created Series "A" Preferred Stock with super voting rights. We further agreed to use its best efforts to complete a financing resulting in proceeds of at least $2,000,000. If we are unable to raise $400,000 according to the terms of the Assignment Agreement, the assets revert back to Imagic, LLC and Richard L. Chang's Holdings. As part of the Assignment Agreement, Imagic, LLC and Richard L. Chang's Holdings shall have the option at any time before November 1, 2014, to assign to us any and all interest these companies have in the indication, patents and intellectual property related to Hodgkin's Lymphoma in consideration for us issuing to Ben Chang: (i) 476,820 pre-split common shares; and (i) 1.0408 pre-split common shares for each one pre-split common share issued by us prior to the date we receive notice of intent to exercise the option, adjusted for any stock split we happen to undertake.
In consequence of the Agreement and Assignment Agreement, Sean Webster resigned in his position as an officer and director. In his stead, Ben Chang was appointed as President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and Director. Li Deng Ke and Xiong Chao Jun sold 1,275,000 pre-split common shares to Ben Chang, and Mr. Chang cancelled 1,200,517 of those shares he received and returned them to treasury.
On July 19, 2013, we entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the "Agreement") with our prior officer and directors, Li Deng Ke and Xiong Chao Jun. Pursuant to the Agreement, we transferred all assets and business operations associated with our boiler business to Messrs. Ke and Jun. In exchange, Messrs. Ke and Jun agreed to assume and cancel all liabilities relating to our former business, including shareholder and officer loans amounting to $24,318. From and after July 18, 2013, we are in the business of developing PD-616 for the treatment of Acute Myelogenous Leukemia (AML), and to cause elevation of white blood cells (WBC) in patients depleted of these elements due to various conditions. We are no longer engaged in the business of developing, manufacturing, and selling straw burning boilers. A more complete description of our new business is contained under "Item 2.01 Completion of Acquisition or Disposition of Assets" in our Current Report on Form 8-K filed with the SEC on July 24, 2013 (the "Super 8-K"). Readers are encouraged to read the Super 8-K to gain a better understanding of our new business and risk factors.
On August 26, 2013, we filed Articles of Merger with the Secretary of State of Nevada in order to effectuate a merger with our wholly-owned subsidiary, Rich Pharmaceuticals, Inc. Shareholder approval was not required under Section 92A.180 of the Nevada Revised Statutes. As part of the merger, we authorized a change in our name to "Rich Pharmaceuticals, Inc." and our Articles of Incorporation were amended to reflect this name change. The effectiveness of the name change was subject to approval by the Financial Industry Regulatory Authority ("FINRA"), which we received on September 3, 2013.
On September 5, 2013, we resolved to increase the number of authorized shares of our common stock, par value $0.001, from 90,000,000 shares to 37,503,000,000 shares. Correspondingly, we affirmed a forward split of 416.7 for 1 in which each shareholder was issued 416.7 common shares in exchange for 1 common share of their issued common stock. Under the Nevada law, shareholder approval was not required. We submitted the required information to FINRA and we were informed by FINRA that the effective date of the forward split was October 2, 2013. Prior to approval of the forward split, we had a total of 993,108 issued and outstanding pre-split common shares, par value $0.001. On the effective date of the forward split, we had a total of 413,828,104 issued and outstanding post-split common shares, par value $0.001. New stock certificates will be issued upon surrender of the shareholders' old certificates. In connection with the forward split, we were issued the following new CUSIP number: 76303T209. Effective October 30, 2013 our common stock is quoted under the symbol "RCHA."
On September 6, 2013, we entered into an Employment Agreement with Ben Chang, our Chief Executive Officer, Chief Financial Officer, President and Secretary. The Employment Agreement provides for a term of two years; annual compensation of $275,000; an amount equal to 3 months compensation payable upon entering into the Employment Agreement; and options to purchase up to 3,000,000 shares of post-split common stock at an exercise price of $0.02 per common share, 50% of which are vested on October 1, 2013, and 50% of which will vest monthly over 24 months of continued employment. The foregoing is only a brief description of the material terms of the Employment Agreement, and does not purport to be a complete description of the rights and obligations of the parties thereunder and such descriptions are qualified in their entirety by reference to the Employment Agreement which is filed as an exhibit to our Current Report on Form 8-K which was filed with the SEC on September 12, 2013.
Table of Contents
On September 6, 2013, we expanded the number of Board of Directors to two (2) members and appointed David Chou, Ph.D., as a director to fill the vacancy.
On September 6, 2013, we approved the adoption of Rich Pharmaceuticals, Inc. 2013 Stock Option/Stock Issuance Plan (the "2013 Plan"). The 2013 Plan is intended to aid us in recruiting and retaining key employees, directors or consultants and to motivate them by providing incentives through the granting of awards of stock options or other stock based awards. The 2013 Plan is administered by the board of directors. Directors, officers, employees and consultants and our affiliates are eligible to participate under the 2013 Plan. A total of 60,000,000 shares of post-split common stock have been reserved for awards under the 2013 Plan. On September 6, 2013, we approved the grant of 41,000,000 options to purchase post-split common stock to a total of eight directors, officers, employees and consultants of our Company. The options have an exercise price of $0.02 per post-split common share and are subject to vesting schedules and other terms as provided in the individual option grants. The foregoing is only a brief description of the material terms of the 2013 Plan, and does not purport to be a complete description of the rights and obligations of the parties thereunder and such descriptions are qualified in their entirety by reference to the 2013 which is filed as an exhibit to our Current Report on Form 8-K which was filed with the SEC on September 12, 2013. Effective January 12, 2015, the Company approved the re-pricing of all of the 67,253,280 previously granted options under the Company's 2013 Plan to $0.0017 per share which was the closing price of the Company's common stock on January 9, 2015. All of the other terms of the options remained unchanged. The re-pricing included 6,000,240 options which were previously granted to Ben Chang, an executive officer of the Company.
On January 17, 2014, the Company executed a Waiver to Memorandum of Understanding and Asset Assignment Agreement with Imagic, LLC ("Imagic") and Richard L. Chang Holding's, LLC ("Holdings LLC") pursuant to which Imagic and Holdings LLC agreed to waive and terminate their rights to the reversion of the patent assets under the terms of the above-described Memorandum of Understanding and Asset Assignment Agreement dated as of July 18, 2013. The foregoing is only a brief description of the material terms of the waiver agreement, and does not purport to be a complete description of the rights and obligations of the parties thereunder and such descriptions are qualified in their entirety by reference to the agreement which is filed as an exhibit to our Current Report on Form 8-K which was filed with the SEC on January 17, 2014.
On October 6, 2014, 2014, the Company executed an Assignment Agreement (the "Assignment Agreement") with Richard L. Chang Holding's, LLC ("Holdings LLC") and Imagic LLC ("Imagic LLC") pursuant to which Holdings LLC and Imagic LLC exercised the option under the Memorandum of Understanding and Asset Assignment Agreement dated July 26, 2013 to assign any and all interest it had in the indication, patents and intellectual property related to treatment of Hodgkin's Lymphoma, utility patent application number 61998397, entitled COMPOSITIONS AND METHODS OF USE OF PHORBOL ESTERS FOR THE TREATMENT OF HODGKIN'S LYMPHOMA pursuant to the terms of the Assignment Agreement. In connection with the Assignment Agreement, the Company issued 220,792,028 shares of the Company's restricted common stock to Imagic LLC in accordance with the terms and subject to the conditions set forth in the Assignment. Imagic LLC is owned and controlled by Ben Chang. This issuance of shares was made in reliance on the exemptions or exclusions from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act") contained in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated under the Securities Act. The Company's reliance upon Section 4(2) of the Securities Act in issuing the securities was based upon the following factors: (a) the issuance of the securities was an isolated private transaction by us which did not involve a public offering; (b) there was only one recipient; (c) there were no subsequent or contemporaneous public offerings of the securities by the Company; (d) the securities were not broken down into smaller denominations; (e) the negotiations for the issuance of the securities took place directly between the third party and the Company; and (f) the recipient of the securities was an accredited investor.
On October 6, 2014, the Company approved an amendment to the 2013 Plan to increase the number of authorized shares to 90,004,800, and approved the grant of 15,500,000 options to purchase Company common stock at an exercise price of $.0191984 per share.
On October 6, 2014, the Company granted Ben Chang 8,000,000 shares of Company common stock and options to purchase up to 3,000,000 shares of Company common stock at an exercise price of $.0191984 per share.
In October 2014, the Company submitted its Investigational New Drug (IND) Application for the next Phase, a multi-center study to evaluate the safety and efficacy of RP-323 in patients with AML and MDS.
On February 2, 2015, the Company announced the completion of the GMP clinical batch of RP-323 study drug that was manufactured at the state-of-the-art Wuxi Apptec Biopharmaceutical's facility.
Table of Contents
Results of Operations for the Three and Nine Months Ended December 31, 2014 and 2013
We generated no revenue for the three or nine months ended December 31, 2014 and 2013. We do not anticipate earnings revenues until we are able to sell or license our products.
Our operating expenses and net loss during the three and nine months ended December 31, 2014 were $1,358,623 and $2,394,658 respectively, as compared with $143,928 and $321,464 for the same periods ended 2013. The operating expenses for the three months ended December 31, 2014 consisted mainly of professional fees ($261,412), wages and taxes ($543,311), office expense ($30,950) and stock-based compensation ($497,654). The operating expenses for the nine months ended December 31, 2014 consisted mainly of professional fees ($590,955), wages and taxes ($789,266), consulting expenses ($169,192) and stock-based compensation ($679,095).
We anticipate our operating expenses will continue to increase as we undertake our new plan of operations which went into effect on July 18, 2013.
Liquidity and Capital Resources
As of December 31, 2014, we had total current assets of $5,823; we had total current liabilities of $1,195,244; and we had a stockholders' deficit of $1,126,984. Operating activities used $1,034,393 in cash for the nine months ended December 31, 2014, and used $261,841 in cash for the nine months ended December 31, 2013.
Our net loss of $1,436,048 for the three months ended December 31, 2014 primarily accounted for our negative operating cash flow. Financing activities during the nine months ended December 31, 2014 generated $1,027,829 in cash from the issuance of $603,829 in convertible promissory notes and the sale of $607,050 of stock and warrants.
As of December 31, 2014 and the date of this report, we have insufficient cash to operate our business at the current level for the next twelve months and insufficient cash to achieve our business goals. Our continuation as a going concern is dependent upon our ability to obtain additional financing and to generate profits and positive cash flow. We will require additional cash of $2,000,000 over the next twelve months to cover the costs of overhead and operations, drug manufacturing, maintaining our patent portfolio, and conducting clinical trials for the indication Acute Myeloid Leukemia ("AML"). We plan to raise the required capital pursuant to a private equity financing in the near term, but there is no guarantee or assurances that we will be able to do so.
Off Balance Sheet Arrangements
As of December 31, 2014, there were no off balance sheet arrangements.
Going Concern
We have negative working capital and have not yet received revenues from sales of products or services. These factors create substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if we are unable to continue as a going concern.
Our ability to continue as a going concern is dependent on generating cash from the sale of our common stock and/or obtaining debt financing and attaining future profitable operations. Management's plans include selling our equity securities and obtaining debt financing to fund our capital requirement and ongoing operations; however, there can be no assurance we will be successful in these efforts.
I just got in. How has it been before today?
I sent the e-mails to the address on the "Investor's Relations" tab on their website. It's there for that purpose. Also, I called the number and extension, and was directed to Ben's desk. There needs to be a response to prove they're legit.
Here are two e-mails I have sent to Ben Chang. I also just left a voice mail with him about 30 minutes ago to call me back.
Ben,
I still have not received any response to this e-mail. I just left a voice mail with you and I'm hoping to hear back from you. I'm wanting information in regards to your company's future and these drug trials. I have invested money into the stock RCHA, and have lost over half of its value within a very short amount of time. Why haven't there been any press releases to inform us investors of what is going on? We all believe if you release some news, more people will invest, and the stock price will increase. So far, things don't look promising, and I'm seeking your assistance to help alleviate any doubts. Please get in contact with me soon via e-mail or calling me at ***-***-****.
Thank you,
<my name>
-----Original Message-----
From: <me>
To: info <info@richpharmaceuticals.com>
Sent: Mon, Feb 9, 2015 1:56 pm
Subject: I'd like some info
Hello. I have been watching your stock and company for the past few weeks, and have bought 200,000 shares. I'm thinking of purchasing more, possibly double my position, but I need to get some more information. Will there be any more news coming out on the clinical trials, and if so, when?
<my name>
This is the calm before the storm. We have good news coming this week into next. Everyone who is in is about to be rewarded.
I got more at .0086. Good call on your part!
Any predictions on when the 10Q will be released? Who thinks it will show decent numbers?