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W2P---I am a long time holder of AMGN. I know the problems
with EPO. I one time posted that super EPO was going to have super problems. From the research I have done it appears the
Beth Isreal had a problem getting anybody to develope super
epo because of the problems. I thought it was a perfect match
when DNAG took on super EPO. I will say I bet that once we
have the markers for EPO/super EPO there will be a couple of
companies that want to know what they are. Hey JMHO LOL
I think your posts are always on target. Thats why I read them.
Take Care
Arch
Phill I am not sure how soon it will happen either but I sure
do love it.
Take Care
Arch
Just got this---you figure it out.
http://www.v-b-u.org/biofrontera.pdf
Take Care
Arch
eugene---what a joke! LOL
fud---I hate to tell you this but my friends on this list do not
give a good rat's a$$ about what you think
I still like this.
http://biz.yahoo.com/twst/051130/zbb400a.html?.v=1
Take Care
Arch
I sure hope we find out how this went.
http://www.marketwire.com/mw/release_html_b1?release_id=100172
Take Care
Arch
fud---truth is what I want to see. there are so many who post
here that seem to have a twisted view of truth
Ifida---Do you think we might be doing some contract work
for AMGN?
Take Care
Arch
Arch, could you either post this on the IHUB board for me or show me the way again? I can't get back over there for the moment...am on a new system and they messed up my favorites
and lost IHUB's DNAG board. It's important for them to read as well.
tia. Babe
Cornell Capital being investigated by the SEC.
Another Hedge Fund Discloses PIPEs Probe
By Matthew Goldstein
Senior Writer
12/1/2005 7:12 AM EST
Click here for more stories by Matthew Goldstein
Cornell Capital Partners, a hedge fund that specializes in finance for ailing penny-stock companies, is being investigated by securities regulators for its trading activity in shares of nine companies.
The Jersey City, N.J.-based hedge fund, which has more than $200 million in assets, disclosed the investigation in its most recent audited financial statement, a copy of which was obtained by TheStreet.com. Copies of the hedge fund's 2004 financial statement were mailed to Cornell investors in late August.
The Securities and Exchange Commission investigation of Cornell stems from a broad-based regulatory inquiry into allegations of manipulative trading in the $17 billion-a-year market for PIPEs, the Wall Street acronym for private investment in public equity.
For the past two years, securities regulators have been looking into the activities of hedge funds that invest in PIPEs and the brokerages that help arrange these private stock sales for companies in desperate need of cash. TheStreet.com previously reported that at least three other hedge funds -- HBK Investments, Gryphon Partners and Alexandra Investment Management -- are being investigated by regulators.
PIPEs are a popular financing route for tiny, cash-strapped companies, which raise money by selling discounted shares to investors in a privately negotiated transaction. But the ability of a big trader to purchase thousands of shares of discounted stock also makes the PIPEs market ripe for abuse by unethical short-sellers -- traders who bet a stock will decline in price.
Mark Angelo, the founder and president of Cornell, says regulators haven't told him they've found any wrongdoing involving the hedge fund. Angelo says Cornell is probably being investigated because it's a major PIPEs player and is involved in so many deals each year.
"I think they're looking at all people in the PIPEs space,"' says Angelo. "Most of our investors view it as non-issue."
Since its inception in 2001, Cornell has provided financing to more than 120 speculative, mostly money-losing companies, many of which trade shares on the over-the-counter Bulletin Board. In the third quarter of this year, Cornell was the ninth most active PIPEs investor, sinking $38 million into 10 different deals, according to PlacementTracker, a private placement research firm.
The PIPEs market has been a profitable niche for Cornell. In 2004, it realized a $20 million net gain on investments, according to the financial statement. It took in another $3.4 million in investment income.
The investigation of Cornell began in July 2004 with the SEC requesting information about its "funding of and trading" in shares of Bio-One, a defunct nutritional supplement company that had operated out of Winter Springs, Fla. Cornell had been the primary investor in two PIPEs deals that raised $25 million for Bio-One and enabled the company to make two small acquisitions.
By this summer, the SEC investigation had expanded to include eight other companies Cornell had invested in. The audit doesn't disclose the names of the other companies. However, the 13-page report notes that Cornell received a subpoena from the SEC on July 18, 2005, seeking documents "related to the funding of and trading in the common stock of Bio-One and eight other portfolio companies in which the partnership is invested."
Two months ago, the SEC reached a settlement with Bio-One over allegations that its financial statements failed to disclose an August 2004 default on a $15 million promissory note to a company it had acquired earlier that year.
Angelo says the SEC began investigating Cornell because it had provided financing to Bio-One. But he says Bio-One company kept the default on the promissory note hidden from Cornell, too.
"We have no idea why we were named in this, other than that we are an investor," says Angelo. "I have no idea why we were named."
Angelo declined to discuss the eight other companies the SEC has asked for information about. An SEC spokesman declined to comment.
One of the allegations regulators are looking at in the PIPEs probe is that some hedge funds routinely shorted a stock once they learned a PIPEs deal was in the works. Regulators contend that such premature short trades are illegal, because knowledge of such deals is confidential, nonpublic information.
It's not uncommon for stocks of companies doing PIPEs deals to drop in price after it becomes public that the company has sold thousands of shares at a discount.
Hedge funds, however, aren't the only target of the investigation, which is being coordinated with the National Association of Securities Dealers and in some instances, the Department of Justice. Investigators also have targeted brokerage firms that serve as placement agents for PIPEs deals by lining up investors.
To date, the broad-based inquiry has led to the criminal conviction of a former SG Cowen managing director on insider trading charges, and a $1.45 million civil settlement with a former First New York Securities hedge fund manager. Emanuel Friedman, former co-CEO of Friedman Billings Ramsey (FBR:NYSE - news - research - Cramer's Take), also faces potential civil charges, as does the investment firm he co-founded.
Other Wall Street firms that face potential regulatory action arising from the probe include Knight Trading (NITE:Nasdaq - news - research - Cramer's Take) and Refco (RFXCQ:Other OTC - news - research - Cramer's Take), the scandal-tarred commodity and derivatives brokerage.
http://www.thestreet.com/markets/matthewgoldstein/10255157.html
Ole Vern---I know what fud is---I dont care what they want
me to call it---still smells the same.
Take Care
Arch
Dorsey---stand tall my friend.
Take Care
Arch
GEO---Thanks! Not many would admit to that these days.
Take Care
Arch
We have not heard much from this yet.
http://www.marketwire.com/mw/release_html_b1?release_id=100172
Take Care
Arch
Geob---Sorry I am not a kind and gentle person. I want to stuff
it down his throat. I dont like being forced to be nice to idiots. Worse than that I dont like being told I have to be
nice to people who attack the company I own. In my mind they
are attacking me because I am an owner of DNAG. To me things
have gotten so politicaly correct that we can not fight back
when people attack us or the company I own. Hey its a funny world we live in.
Take Care
Arch
Ifida---THANKS! I did not highlight it because I wanted to see
if anybody was even reading what I post. Thanks again.
Take Care
Arch
Board monitors---that is a personal attack. If you believe in
something that is a reasonable statment. fud knows nothing
more than the rest of us. His tearing down a fellow board
member for honest beliefs is an attack.
Board monitors---do I have to sit here and take this crap?
I am an owner of this company. I am part of this company. May
I consider this an attack on me? How will be allowed to defend
myself. Will it be like the last war I was in? I could only
shoot if I was shot at? Please give me some answers. I am sick
and tired of this little war. I dont like the rules. Just like
the last one I was in.
Take Care
Arch
Chris---see my post to Dr Dew---It wont last long.
Take Care
Arch
Dr Dew---I helped build this company. I am an early investor.
I am sick and tired of people being able to attack the company.
But I can not attack. They want the bashers to hang around
because it makes people like me post---more posts and they get more money they get more money for
their ads. I am part of the company so an attack it is also an
attack on me. Want to see what I get?
Sent By: IH Admin [Matt] Date: 4/16/2005 4:54:00 PM
you're welcome to refute easymedicine, but don't call him 'easydope' -- kills your argument and i have to wipe the post.
He can call the company liers and thieves but I cant call him
easydope.
Read it fast It wont be here long.
Take Care
Arch
Hey anybody think this might have something to do with
DNAG. LOL
http://www.usforacle.com/vnews/display.v/ART/2005/12/01/438ef141c5350
Take Care
Arch
Board monitors---how do you let this go on? I own part of this company I therefor consider it an attack on me. I thought you
did not allow this.
Take Care
Arch
Maybe there is hope for us.
http://biz.yahoo.com/prnews/051201/sfth069.html?.v=33
Take Care
Arch
Hey you board monitors. I see this as an attack on the company.
You all will not let me kick his face in but you let him kick
the company in the face. Please explain this to me. I am growing tired of this. We cant attack the people who spread
lies about the company. PLEASE tell me how we defend ourselves?
If we cant attack each other but others are allowed to attack
the company---which part of it belongs to me---then it is an
attack on me. I would like to see the ground rules redefined
a little here.
Any of you who missed Barbs talk yesterday it can be heard
here. Hey you get the slides too.
http://www.vcall.com/console/ConsoleFrameset.asp?ID=97888&brand=Vcall&ClickType=&playerI...
Take Care
Arch
Wonder if this has anything to do with our plays over there.
http://www.biotech-intelligence.com/html/html/41e4418367153897c6c0da0ca894c330.html
Take Care
Arch
Later Team
Take Care
Arch
Chris---Could be but I think they like the dark of night.
Take Care
Arch
Hopeless---yeah right
Bend---I can go along with what you say. Life looks good to me.
Take Care
Arch
You know the question I have is why do we have a very high
priced lawyer posting here and over at RB 24/7? There has to be a story there some where. I am mad at DNAG because they have
not taken this issue on. I also think that person is about at
least half of the bashers on this board and RB maybe all of them.
I sure hope we find out the answer someday.
Since this is not a reply to anybody nor did I mention any names
I dont think this can be called an attack on anybody. JMHO
Take Care
Arch
OT Dorsey---have you tried Netscape 8. I like it. Very fast.
Take Care
Arch
If others want to see the slides try this.
http://www.vcall.com/console/ConsoleFrameset.asp?ID=97888&brand=Vcall&ClickType=&playerI...
Take Care
Arch
Could be a fine day tomorrow.
http://www.marketwire.com/mw/release_html_b1?release_id=101735
Take Care
Arch
Well lets see what the afternoon brings.
http://www.pharmalive.com/News/index.cfm?articleid=294629&categoryid=63
Take Care
Arch
Some interesting twists in this story.
http://www.upi.com/HealthBusiness/view.php?StoryID=20051129-040848-8372r
Take Care
Arch
Well one can dream.
http://www.genengnews.com/news/bnitem.aspx?name=1114556XSL_NEWSML_TO_NEWSML_WEB.xml
Take Care
Arch
More of what Merck is saying.
http://www.ksbitv.com/home/2022032.html
Take Care
Arch
Then Wednesday Barbara gets to do her thing. Should be a fine week.
http://www.marketwire.com/mw/release_html_b1?release_id=101735
Take Care
Arch