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The problem is cash burn, never ending, seemingly endless cash burn, the same huge, never ending cash burn that ended in BK for 3 other DOE darlings, line Beacon (BCON, BCONQ), Solyndra, and ENER1, the ones that I know of so far.
AXPW already burned investors once about 2 years ago selling new shares out the back door at a 80% discount to retail, since then 100% loss on BCON (now liquidated, BK, total loss to common shareholders), Solyndra up in flames, BK, ENER1 now in BK, probable total loss to common shareholders, so why should I expect AXPW, one more DOE darling, with its own never ending losses and cash burn, at this time, to be any different?
The entire battery sector has turned into a dog, not just AXPW.
If they ever reach break even, I will reconsider, but not until then.
Yes and no. First time I read the filings, and talked to the new CFO, his first day on the job, I thought we had about 275 million new common shares that were restricted for 6 months from the last week of Dec 2011, but I went back and reread some of the filings (note I am not done re-reading it all, and it is a bit confusing), but now it seems that all those shares were converted from 500 common shares to 1 preferred share, so the reported total common is somewhere between 2.5 and 7.5 million shares right now (depending on who you believe, what source you use). So it looks like the new CEO already took care of the massive common share problem, by making all the new shares, preferred shares.
But we need to be careful here down the road long term, as there are lot of cheap warrants still out there, if I read that part right. But for now, they have no need to dilute further (nor desire), and would only do so IMHO after they ran the price way up into $$$ land, to take advantage of a huge run up in the common price, to say $5 this summer, then sell enough new shares at $5 to raise 50 to 100 million dollars, then they could run 2-3 stage III drug trials all at once for the next 2 plus years on that cash.
I won't be surprised to see an uplisting to Amex or NASDAQ this year once they get the price up to several dollars, and they may use news of plans to uplist to boost the price!!!! They now have enough working capital and stockholders equity to uplist!!!! All they lack now is price to uplist!!!!!
If you ignore the preferred shares, the common shares (assuming 7.5 million shares of common), show a market cap of $3 million dollars, when they now have (IIRC) about $20 million (?) in cash right now, which puts zero market value on the 5 or 6 drugs and products in their pipeline now. Now in all truth the preferred shares really own and control most of this company right now, but they are not traded, and are locked down and under the new CEO's control and ownership based on the filed reports.
Now, in a few years, if all the drug trials failed (which is unlikely, as the B-12 product should not have any problems, and I was told by the MHAN staff last year that the market potential (or size) for the B-12 product was $100 million per year!!!!), there is the risk of preferred shares being converted back 1:500 to common and being sold, but Weiss is no fool, and would not do that at this stage, but in 2-3 years if the company fell on hard on times it is lurking there along with cheap warrants, so when this hits say $5, I will take profits and my cost off the table and just hold some freebies for the long haul!!!!!
But for now, it looks to me like there is (or will be) a plan to uplist, push the price to say $5 to $10/share and then sell one last batch of shares to add $25 to $50 million dollars to the war chest at about $5/share. That could be part of the uplisting, or happen just before or after. Hard to say just when, but it could be soon, to keep momentum going.
$5 x another 10 million shares would be $50 million in cash added to working capital leaving the OS common at 13 to 18 million shares!!!! So .40 is a steal here if that all happens? So far, in just 5 weeks this sleeper stock is showing serious signs of life again, with a lot more to come still!!!
Probably a mix of MMs needing shares, a few stop loss orders tripped, and some that bought real cheap late last year taking profits finally. Monday may be important, with the Greece Euro debt mess boiling over this weekend, and Friday next week is options expiration, so the entire market may get real bumpy next week!
Be nice if we got another TTEG update this coming week, like news of an order for a hydrogen generator from that Pharmaceutical company.
There is no proof or verifiable fact regarding the actual casing condition in that document!!!! All of us here, that have been following have seen that document. I posted it here ages ago (6 months ago IIRC). Old news. All it says is that somebody has fines to pay before they can sell produced oil from the leases, and they need to get permission (permits) to re-enter the wells, test them and then based on the tests, either put them to work pumping oil, or disposing of produced water from a nearby producing well, or plug the well for good.
There is nothing there that proves "worn out wells"!!! So please stop overstating the problems here, until there is real proof one way or another.
OK, now you have gone a bit too far. You made that statement as if it were a known fact, which it is not. While you and I are on the same page most of the time, I am pretty sure that no one knows the precise current condition of those casings, great condition, good, average, poor or bad.
For now, the verdict is still out, but yes the clock is ticking. To my knowledge, while there are TRRC fines due, there is no proof that many of these wells can not be reused, meaning the casing condition is not known to be bad or good.
I do know this. SE & WC would not have gambled on this play if most of those wells were unusable and needed to be plugged and abandoned!!!!! It is my understanding that SE at one time had boots on the ground checking out this site.
The problem is and has been Wilmont!!!!! End of story.
Bid/ask closed at .35/.65!!!!!!!!!!!!, and close was the high of the day, .40!!!! Nice close for such a bad day!!!
Yes it is. I ran out of steam last night, and got bogged down at the day job, so I never got the chance to finish reading it. I hope the post and links I made last night were helpful to others in the mean time.
Looks like we are holding at the ask quite nicely today, in spite of the sell off in every thing else. A good sign, we are not done here with this rally., and no sign of share dumping, float is still very tight. We saw a little profit taking volume yesterday.
What are you going to call them? A cab perhaps?
LMAO, who sells 1000 shares for $10 at a 40% loss, to knock down the tick?
LOL!
Yep, FLD! for sure
FWIW, I started buying more shares here this week.
This is some of what I dug up 4 weeks ago after the first round of funding and the MHAN merger happened. The research was to answer the question, who is, who has been the new TGTX CEO, Weiss?
http://www.opuspointpartners.com/ONEPAGERS/NHLD%20PR%20012511.pdf
http://opuspointpartners.com/news.php
http://investing.businessweek.com/research/stocks/people/person.asp?personId=196015&ticker=KERX:US
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=KERX:US
http://insurancenewsnet.com/article.aspx?id=244366&type=newswires
I am rereading the SEC/OTCBB filings, and it looks like I missed a few things. First round added 11 million (apx, less costs of about 10%-?) to the cash on hand Dec 29, 2011-?
It also looks like the huge common float I WAS concerned about hitting this summer, was converted to preferred shares at R/S ratio of 500:1-??? So they are not in the summer float to be (?)!!! But the preferred shares look like they are convertible back to common (someday at 500:1, or did I miss read that)? Not sure I have read all this correctly. It is a bit confusing!!!!!
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8325652
The added (new, but still common) non preferred shares, future float may only be 7.5 million, all owned by Weiss!!!
I will post more later tonight.
LOL, now I know this going to test .27 again. I feel sorry (not, LOL) for whoever panicked and sold low here today. The rising bid/ask and close at .17 tells the story here!!!! We are going higher!!!!!
Some body got a bunch of shares today. The sellers will have seller's remorse shortly I think. Yes it makes huge moves but there have been 2 major bits of news the last 6 weeks, but no one was watching it, so the news went on deaf ears at first. The second news that sent shares flying was totally unexpected. News of additional funding and a new oncology cancer drug JV deal out of France, where we got the US drugs rights, and $10 million in cash to add to the $20 million in Cash raised at the end of the year to fund the original drug pipeline, which is a good pipeline. This new CEO owns directly and indirectly about 98% of the shares (all new shares) near as I can tell, and they are restricted shares for 6 months according to the new CFO.
As you can see it will not take much buying to run this up to the $1.50, 52 week high next. 90 day average volume was 5,914 shares!
There should be serious, steady news flow for a while now as the new officers begin to fill us in and update us on the new drug(s) pipe line plans, and market potential, etc.
The stock got brutally hammered late last year and was down down 99%) on fear of dilution and or fear of BK, and a nasty 6 month bear market.
With at least 30 million new dollars in the bank now, and two more block buster drugs added to the others, the Phoenix is rising here!!!!!
.15 will be support now, and if we break up over .20, .27 will be the next resistance. Good chance that may happen very soon.
52 week high was $1.50, 2010 high was about $7.50, when they were essentially broke (out of cash).
I told you all the float was tiny!!!!! Time to blast into lunar orbit folks!!!!!
.90/share already!!!!
What makes you think he is expecting different results? LOL
FLD play?
Looks like we might get one last chance to buy cheap shares here looking at that chart. I will be buying some of them.
It is a real biotech, that nearly went under (08-09 funding crunch, and then again last 1/2 of 10), but made some smart moves that saved it. That said it is an R&D Biotech, it has enough cash now to move probably 3 of the best drugs in the pipeline through the next Phases II and phase III trials, one is a B-12 product that has a 100 million dollar per year market potential, a new French cancer oncology drug, that the French partner gave us the license for in the US plus $10 million to fund the FDA work to get it approved here, and about 4 more in the pipeline. So yes it is legit, extremely well funded now, about 30 million in new cash added the last 5 weeks added, two new drugs added last 5 weeks, 4 that were already in the pipeline (so that makes 7 total that I know of), and now it has no debt. Just be sure to take profits before the 250 million new shares become unrestricted in July!!!!! Right now the entire float is something silly like 2.5 million shares, and a huge pipeline of drugs now, no debt and 30 million in cash! This could easily soar to $5 before people decide to sell any shares.
I told you all the float was ity bitty tinny right now!!!!
I pity any one that tries to short this monster before the summer, LOL.
LOL, who needs revenue, we have a rapidly rising stock price, Ye-Haw, ride em cowbow!!!!!
We busted loose of that 15 cent wall and closed at .17!!!
Blast off folks, next weak resistance is .20, after that is .27!!!!
Time to rock n roll!!!!
GO TTEG!!!!
I suspect we have enough sales to keep the doors open as long as Marc is not trying to pull a big paycheck. And I think the lack of dilution here for 14 months is a sign that is happening?
Agreed, very hard to buy except at the ask, or sell except at the bid right now, but the bid keeps rising, which is the one to watch.
This stock was at $2 a year ago, before debt was converted to shares and the R/S as MHAN, which was when they were still broke, and desperately needed cash, now they have added 2 groups of new drugs and added about $30 million in cash in just 6 weeks!!!
I was in at about $1.20, but got lucky about 6 weeks ago and doubled down at about .10
Most of the old float is still in at $1-$2 easy. I think most of the cheap shares are gone now, until this summer.
I dug up some 10-15 year data in 2010, and IIRC something like a $1.34 was the 20 year low in about 1998? It will depend on how many old wells get closed, and how fast the peak flow from the new wells tapers off, and how many wells they drill this year. But I doubt it will stay low. I would expect it be very volatile, and $3 may the top, with $1.50 the bottom, but I am just guessing here. Then in 2-3 years when LNG exports take off, it will start a long term rally again.
Just call the retail number on the website for the product, and ask for Marc Walther, the CEO. I talked to him for almost an hour about 6 months ago. I am assuming at this point, he has no good reason to spend the money (which is no doubt tight) on a CPA audit to post financials, yet. But as long as the company is selling product and filling orders (and paying the phone and internet web site bills, and not diluting shares) most of us here are willing to wait. It may be another year for all I know. Most of us are here because of the product, have faith in the product, faith it will catch on in time. If you build it, they will come....
Frankly I did not expect any huge surprise in the financials. Was just hoping he would file them to help show others they are still operating, with real sales, even if they are not huge sales volumes yet.
I would say yes, still alive, as some one just put some big dollars in at the ask, so yes it is still alive and may be just getting going. The new guy (Weiss)that funded the take over is the guy behind KERX. My guess is they plan to run it way up into dollar land since 99.5% of the new shares are restricted (will be near impossible to short it here, just no shares around to short), then they will slowly sell this summer at multiple dollars as some of the restricted shares (and there is a bunch of them) become sellable (get out by then!!!!). But they may run it up to $5 before the summer, then sell new shares to do one more round of cash raising first, before they start dumping the restricted shares!!!! The restricted shares have till July, then they can sell.
The huge move and rising bid support at under 500,000 shares in volume since the rally started confirms the tight share float, which I think is under 3 million shares!!!!!!
A few more eyes on this sleeper and it will move up fast IMHO. Could be another blow out like the first day!!!
Welcome to the party!!
8-K filled:
"Departure of Directors or Certain Officers
On February 1, 2012 John McFadden submitted his resignation from his position as a member of the Registrant’s Board of Directors. The resignation will become effective on February 29, 2012."
This board and stock has turned so bearish, it will be interesting to see just how high it rallies on the first news of oil actually being pumped.
Three of my other dogs are already up 800 and 1000% this month from the December lows.
Time to turn .15 into lower support and rally to .20 now!!!!
The well site is high and dry, does not flood. The access road is what floods, and last we heard was that road was still washed out from last years flood, waiting on the county to repair it.
Soo when does the tune change back here to "Buy, Buy, Buy, with a rally to 10 cents, instead of "Bye, bye, bye"???
LOL!!
Looks like it is about to finally crash. People have probably tired of holding the dog while everything else is in rally mode, and the flood season is close enough that this may be the end here for another 6 plus months, or longer. Any market wide correction will hammer this one now.
Earnings are out. Best quarter in 3-4 years near as I can tell. All positive news on all items except a .03/share loss(which I believe is a 4 year low now), and book value is still 2.5 times the share price. Revenue, and operating profits way up across the board.
I will be doubling my share count on any pullbacks this year.
Same JV, just news of progress, news that they actually are (did name and form) forming the new company right now. Prior news was "plans" to form the JV. Today's news is they formed it now, and are now working out the operating details.
I find this very encouraging!!
From what I can tell so far, there is a much larger drug pipeline now. MHAN (now TGTX) had 3 products plus the JV on Hedrin before the merger early last year that added 2 new drugs, including the B-12, then the merger at the end of the year last year added at least one new block buster product (oncology Cancer drug) with lots of cash and funding from the France company to get into the US market, and now yesterdays drug(s?) acquisition which also brought in more cash ($10 million plus???).
There should be steady news flow on all these products this year, with funding already in house to get the ball moving on many trials and maybe even an NDA at the FDA this year? They also might sell or JV something from the prior pipeline. Also, it looks like all the new shares are currently restricted, and the float is about 1% of total share count, so this stock could run hard into $$ dollars for 6 months due to the lack of trade-able shares for now, as evidenced by yesterdays huge move.
Add in the fact that no one was watching or trading this one, and any more news any time soon may send it over $1 very quickly.
Impressive. I was very tempted to buy here last year.
Nice start up rally today (up over 500%), on more new product news, and more funding from an unexpected direction. I suspect it is going much higher.
Raly day, back over .15!!!!
https://news.fidelity.com/news/news.jhtml?cat=Corp.MNA&articleid=201202061458RTRSNEWSCOMBINED_L2E8D6BYX_1&IMG=N
Interesting news!!!
Kinda reminds me of the ads where the guy bought his salsa dip that was "Made in New York??????" LOL
"Barwicki will also assist with the Company's compliance requirements from the Texas Rail Road Commission."
A lot of good Penny stock pumper experts (city slickers, LOL) from NY are going to do in Texas talking to oil and gas regulators at the TNRCC, that are pissed at Wilmont!
ROTFLMAO!!!