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Ski, what are you predicting will be the reverse split once we get out? I’m predicting minimum 1:20 split. I think they’ll prop price a bit with news and then drop the bomb. Did you notice that in one of the recent Rabin filings he explained that money had been paid out before petition to Clinical study. I’m guessing that we still won’t have access to UC study results until after September / October confirmation. I look forward to September bud. My 9th anniversary is Sept 24th. Wife and I have decided to hit up Las Vegas for a few nights. So maybe the 24th will provide us with a little anniversary gift. Not counting on it. Maybe by then some opportunists will be buying into IMNP and it’s future.
I agree fully. It’s always been a partnership arrangement. I’m just glad I kept buying when I did. If they do come out of BK which won’t be until fall. Then I expect a serious split coming our way. I do believe they will continue with same approach with cash up front and then milestones on back end. I don’t see the cash going to much higher than what’s been said this far. At this stage they want to just take care of creditors. I don’t think they could care less about shareholders. Shareholders will need to stick around until confirmation and discharge is given. The market then and only then will provide.
Agree. Nothing will be known until late August. I still don’t believe it will be much above 6 million. It’s partnership not a complete sale. We won’t know until auction begins. Too bad stock price won’t reflect anything until confirmation. Them the breaks. Until September it will be on sleep mode. Bert motion for sale will be approved. All will be done accordingly as planned. It’s just too bad share price won’t reflect the progress. Enjoy.
I think they will extend everything out including confirmation deadline. I think you are right Ski. All will be extended. I’m thinking auction won’t happen in Summer. They will extend the auction into fall. Only reasonable explanation.
Ski, I don’t see Sept 14th but I think that’s just a typo. Yes I agree, I see everything rescheduled for Sept 24th. Now I find that super strange as the judge is the one who stretched this out even when the motion for shortened time is set for July 16th to approve sale of Bert which like you said is to be confirmed no later than Sept 15th. So this is all super strange. I don’t know what to make of this. ICO just reserved its rights. So they have finally buttoned up their lips as they should. Discover has withdrawn which was expected after adversary claim. But I have zero clue why judge extended to September 24th. Did you notice he also gave the possibility of extension of exclusive period to be discussed on September 24th. Meaning another extension may be granted. Yikes
I hope people begin to sell then. I want all the-air shares.
You guys better drop price to .003 cents. I need to average down. I overpaid on Friday.
What a great way of getting shares. In my mind they way to beat the 1 year wait for insiders would be to transfer / sell shares to Discover in normal course of business. John wasn’t an insider at the time of transaction, then have him sell those shares to other holders that could be insiders. Now I’m not saying that happened or is even possible, or if I’m saying it right, but I’m thinking some insiders or non secured creditors or whomever is trying to get shares for nothing using this unfair preference strategy. Of course this is all hypothetical, I’m not making accusations here, its all just me being crazy nuts and a total wacko.
Let’s say it was insiders here involved in the transaction, then that would mean that one year wait would put us at October. I’m hoping they weren’t insiders. This would explain the 90 day wait and the transfers / buying at certain times this year. Then as well we could be seeing someone coming back from John once this is all worked out. Interesting stuff. I wish I was smart. This way I could decipher this stuff. I’m just a pathetic conman working so hard at doing nothing. Huggies
So this is how unfair preference is ruled under US system. So I believe this is what’s happening. You smart people can ignore this. I’m trying to help the numbskulls. Then again, I am a conman. So it’s probably best not to believe me. Still, good reading below if you want to take the chance that I’m right on this unfair preference tactic.
A preference in U.S. federal bankruptcy law[8] is a transfer of property by a debtor to its creditor, on account of a pre-existing debt, that is made while the debtor is insolvent[9] and gives the creditor more than it would obtain in a liquidation of the debtor's assets in a bankruptcy proceeding. It is primarily a creature of the U.S. Bankruptcy Code,[10] although some states have similar state laws. If the preferential transaction takes place within a specified period of time before the filing of bankruptcy by or on behalf of the debtor, then the debtor's trustee in bankruptcy is authorized to recover the property preferentially transferred. The mechanism of recovery is the avoidance of the transfer.[11] After such avoidance, the recovered property becomes property of the bankruptcy estate.[12] The period is usually 90 days. However, if the preferential transfer is made to an "insider," then the period is one year. An "insider" is generally a relative or one who has the ability to control the activities of the debtor.[13] The Bankruptcy Code provides some exemptions from these rules to accommodate transfers intended to be contemporaneous, made in the ordinary course of business or to the extent they are made for new value, and others.[14]
All of the following examples assume that the requirements for a preference that are set out above exist at the time the transfer is made.
Securing a previously unsecured debt.
Substituting property of greater value as security for existing security property whose value is insufficient to completely secure repayment of the debt.
Paying some but not all unsecured creditors.
In a real estate transaction, delaying the recording of a mortgage for more than 30 days after the debt it secures is created.[15]
Now this is cool reading: JUST LEARNED ABOUT UNFAIR PREFERENCES.
An unfair preference (or "voidable preference") is a legal term arising in bankruptcy law where a person or company transfers assets or pays a debt to a creditor shortly before going into bankruptcy, that payment or transfer can be set aside on the application of the liquidator or trustee in bankruptcy as an unfair preference or simply a preference.[1]
The law on unfair preferences varies from country to country, but characteristically, to set a transaction or payment aside as an unfair preference, the liquidator will need to show that:
the person or company was insolvent at the time the payment was made (either on the cash-flow test, or on the balance sheet test - it varies from country to country)[2]
the person or company then went into bankruptcy within a specified time thereafter, usually referred to as the vulnerability period[3]
the payment had the effect of putting the creditor in a better position than other unsecured creditors
in some jurisdictions, it is also necessary to show that the bankrupt intended to grant a preference.[4]
In most countries, an application to have a transaction set aside as a preference can only be made by the liquidator or trustee in bankruptcy, as the person making the payment must be in bankruptcy, and thus they are not normally liable to lawsuits from other creditors.
The effect of a successful application to have a transaction declared as an unfair preference varies. Inevitably, the creditor which received the payment or assets has to return it to the liquidator. In some countries, the assets are treated in the normal way, and may be taken by any secured creditors who have a security interest which catches the assets (characteristically, a floating charge).[5] However, some countries have "ring-fenced" recoveries of unfair preferences so that they are made available to the pool of assets for unsecured creditors.
An unfair preference has some of the same characteristics as a fraudulent conveyance,[6] but legally they are separate concepts.[7] There is not normally any requirement to prove an intention to defraud to recover assets under an unfair preference application. However, similar to fraudulent conveyance applications, unfair preferences are often seen in connection with asset protection schemes that are entered into too late by the putative bankrupt.
Many jurisdictions provide for an exception in the case of transactions entered into in the ordinary course of business with a view to keeping the company trading, and such transactions are usually either validated or presumed to be validated.
SO I WONDER IF ALL THIS WORK BY JOHNNY IS ACTUALLY FOR THE UNSECURED CREDITORS. SO THEY RING FENCE THE SHARES TO JOHN AND THEN HAVE THE COURT GET BACK THE SHARES FOR THE UNSECURED CREDITORS. AS YOU READ IN THE LAST PARAGRAPH, IF THEY DO THE TRANSACTION OUTSIDE OF BK WITH THE VIEW OF KEEPING BUSINESS TRADING, THEN THOSE TRANSACTIONS ARE USUALLY VALIDATED BY THE COURTS. HOW AWESOME IS THAT. SO ONE MORE POSSIBILITY HERE.
For people that like to read. DEBTOR CANNOT PURSUE STATE AND FEDERAL CLAIMS AGAINST CREDITOR FOR FILING IMPROPER PROOFS OF CLAIM IN BANKRUPTCY CASE
The United States Bankruptcy Appellate Panel of the Ninth Circuit ("BAP") held that a bankruptcy court erred when it did not dismiss a debtor’s state and federal claims against a creditor for filing improper proofs of claim in the debtor’s bankruptcy case. In re Chaussee, 399 B.R. 225 (B.A.P. 9th Cir. 2008).
The debtor had filed a chapter 13 petition and repayment plan to which the creditor filed two unsecured proofs of claim. In response, the debtor filed an adversary complaint against the creditor alleging that it violated both the Washington Consumer Protection Act ("CPA") and the federal Fair Debt Collection Practices Act ("FDCPA") because the debtor did not owe the debts underlying the claims, or alternatively, the debts were barred by the statute of limitations. The debtor also objected to the claims pursuant to Section 502 of the Bankruptcy Code. Because the creditor did not respond to the objection, the bankruptcy court sustained the objection and dismissed the creditor’s claims.
The creditor filed a motion to dismiss the debtor’s complaint, arguing that (i) the neither the CPA nor the FDCPA apply to proofs of claim in a bankruptcy case, (ii) the CPA was preempted by the Code’s claim process and (iii) the debtor’s exclusive remedy for disputing the proofs of claim was to object to them in the bankruptcy case. The bankruptcy court held that the Code neither preempted the debtor’s CPA claim, nor precluded the debtor’s FDCPA claim, and thus denied the creditor’s motion.
The BAP, however, disagreed with the bankruptcy court and held that the debtor’s state law CPA claim was in fact preempted by the Code, and thus should have been dismissed. According to the BAP, the Code and the Federal Rules of Bankruptcy Procedure provide the exclusive remedies for a debtor against a creditor who has engaged in wrongful conduct in a bankruptcy case. In addition, allowing debtors to recover under such circumstances could (i) skew the incentive structure of the Code and its remedial scheme and discourage creditors from filing claims and (ii) encourage debtors to dispense with the claim objection process in favor of an adversary proceeding that could result in costly litigation. Furthermore, allowing debtors to pursue state law claims could divest bankruptcy courts of the control that is needed over the remedies for improper filings and undercut the Code’s uniform application.
The BAP also held that the debtor’s FDCPA claim was precluded by the Code, and thus also should have been dismissed. According to the BAP, the Code represents a whole system designed to comprehensively define all rights and remedies of debtors and creditors and to permit a simultaneous claim under the FDCPA would circumvent this remedial scheme.
Burden of proof falls on Creditor. So why even do a adversary claim. I have my suspicions. I enjoyed reading the adversary suit. It helped me understand what happened. It was like telling IMNP telling me a bedtime story. Wanna bet nothing is followed through as planned.
Did any of you notice that all the clinical sites for UC are just in Israel?? For BP, Clinical was done in US. So the scam was to get everyone salivating over BP first using US clinical then keep the major study with LTD in Israel. Unbelievable plan. Genius and diabolical keeping plan in Israel outside of North American sight range. Wow!!!
My Window opens Monday. Anyone wanting to sell, feel free to do so. Remember we will only be accepting bids under 4 cents. Trust me. I am here for you and your well-being. I will now buy at 5 cents but only in large blocks. The larger the better. Thank you for your time and your shares. See you in the morning. Be well and let’s build America great.
Confirmation can’t bring discharge under liquidation plan. It has to be under a reorganization. We are needing the latter. Once we have discharge, then certain people will engage, provide and complete deal for us. Or we could just do a little liquidating and reorganizing at the same time. A little of this and a little of that. Add a dash of crazy Skidmark and Skidless mixed in with a little Mama’s milk. And voila. Instant flavour. Magnificent!!! Kisses and hugs.
Remember bar date for filing proofs of claim is July 16, 2019. Hilarious timing.
Wonder what happened Ron vector lab. Mencik created it with board member of Vector Therapeutics. Doesn’t say which one but I assume it’s Teper.
Hey Lex and Wings. What do you guys think is going to happen? Do you guys have a percentage here. I love the praise but could you provide this board with some actual thought.
Total nut bag. I agree. But all is true. Skidmark doesn’t lie about his purchases. Ever!!! Just about his bids, he’s a little off and not good with math. Just wait till next week. Fun times. Hey. What’s even more crazy. Haven’t sold one share. Not one. Almost four years and haven’t sold one. Only buys. Now that’s just certifiable. It’s also not polite to talk behind people’s backs. Just say it to Skidmark. He could careless. He Loves the attention. Total quack. Cheerio!!!
Because I’m a piece of trash con man that doesn’t no any better. That’s me, just the dumbest Canadian you’ll ever know. I like to con people into losing all their money. So I’ve been told. This is my dream. So I like to run with those accusations. Why not give people what they want. Give them an escape goat. So I conned people to buy this stock. Then I go out and buy the exact same stock. That’s just the dumb ass guy I am. Don’t you just love it man. I do. I love it!!!!! I will burn another 10 grand next week just because I want to lose all my money. I am nuts man. I use wet wipes now instead of cash. I wanted to free up my reserves. Trying change things up. Cheers xcorpion. Hope you’re like me. A big loser. Feels good to throw money away. Right. So awesome!!!
Them the breaks BigRon. We rolled the dice and failed. Live and learn. As Bond would say, never say never. I just ain’t clever though. I’m a conman that failed to screw so many. I better get back to what I’m good at. Sticking my hand into holes and pulling out whisker fish. I’m damn good at that. Im a deplorable useless tit thats only good at getting cats. I’m pathetic but I’m certainly not useless. Give me some dynamite and I will get rid of your beaver dams. Ron we are just a couple of pathetic useless tits. See you on the other side later this year. Good luck fishing. Go up north on the grey side. They biting. Just remember to take off those rings. They suck good up north.
Aren’t we all fly guy that fly so high. I am! Hey! It must be the money!
Why you nervous Turbo? Your average is like nothing. It’s about .003 man. Why would you care bud? I see nothing happening at least until we get closer to reorganization being filed. Even then confirmation is needed and that’s a wait in itself. I really don’t see any future bidding action going on. I suspect our stalking horse is the winner here. The fact that a billion dollar company starts bids that low is pretty much saying that this is it. Company’s like that don’t mess around. If they want something they don’t pigeon it down. They make noise when they want something. Bring it.
We need us much as we can. The reverse split coming is going to be killer or the asset sales that will be so bad that we’ll need as many shares as possible to break even. I had millions of shares before petition. Now millions more after petition. So scared of losing huge. Pretty scary stuff guys. Actually super scary for some people. I’m so scared. Anyone else scared?
You guys think I could pick up another million or two next week?
Yes it did. But it will go down. I just appreciate the 850k I got today. I’ll put more bids out there for .004. Hopefully I can average down. Paying a premium bugs me. But then again. I am just throwing money away. So who cares right. Cheers
Thanks for the fill. I’m here next week if anyone is selling. I’m just giving away money. Kisses
Thanks for the fill. I’m here next week if anyone is selling. I’m just giving away money. Kisses
The ask price will come down next week.
We need those asks bids to rise. Volume is ridiculous. Bring it down to 4 cents. I’m not paying over 4 cents for this trash.
Hey Ron, what are the asking bids wanting? Ron, watch what you say about me being right. I’m a conman and I’m usually always wrong. Shhhhhh. But what are the asks. I am flying blind. Much more enjoyable. Sight is overrated. Hehehe
What’s the ask for? I agree that it’s just a fear tactic. Hilarious. We do however have a long way to go.
3 mil on ask?? For how much?
My phone is giving me a f-ass time getting into that pacer site. Didn’t know I had to join another site you goof. Any ways. So pissed. Stupid phone at play ground won’t work. Need some stupid ass reception. So pissed off right now. Want to go Bear Jew all over this place. I WANT TO READ THIS FILING. WANT TO SEE HOW RIGHT I AM. HOW EGOCENTRIC I AM. Sounds like I’m right. So ticked. You wouldn’t know it unless you felt the steam coming out of my ears. Hehehe. I keep my crazy tantrums skin deep. Only the parents getting cracked in the head know I’m upset. So maybe only two or three can tell. Hehehe. Kisses
What website are you using Ski to get the transcript. I’m just curious cause pacemoniter doesn’t show anything
Yes I understand that. It had 90 day delay. But 101 shows nothing. You must have contacted clerk for transcript. Cause nothing is showing up for me.
Where is it posted? Don’t see it.
Happy Fourth of July!!!!
Happy Fourth of July!!!!
Why doesn’t Kazado just pay Meda and get this Ceplene deal over??? Oh ya. I think he’s waiting for us to be discharged and released from any obligations under APA. Got to wait for Judge. It’s extremely weird that no one has mentioned boo about old Kaz or about Meda swaying in the wind. C’mon. You guys remember the June 15th 2017 stand-by financing. Why hasn’t anyone cared about Meda’s feelings. No money from Teper means no deal with Meda. I wonder if that’s the deal Vector / Teper negotiated with with Meda months back. But wait. If Vector is paying the bill, does that leave Kaz in the cold? So confusing. Any ways. This Bert deal sucks. I hope Alexion just partners and gets this over with soon. Cheers