Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Per the just-released correction of this morning's PR: the previously outstanding warrants will only be readjusted to $3 from $7.5 is the company elects to use the additional $5M revolving credit facility.
ANY
Sorry to hear that. I hope that my presence here is seen as a vote of confidence during this dark time.
I believe ANY will be an excellent long term investment for those who are willing to see it through.
Short term, I think there will be a mean reversion toward $2.5, maybe higher with good news. The stock often has strong legs after such periods of weakness.
ANY
I like how the chart is set up to make this a bottom.
I also like how sizable sells are often being accumulated just above the bids. There is clearly something scooping the current levels and whether it is an MM or an institution it appears to be the kind of entity that does not buy shares to take a loss on them.
ANY
I can see how this may be a negative development for someone who is holding $3+ but for anyone buying below $2, it seems like a fine deal. It won't affect the awesome risk:reward from current prices substantially.
Otherwise, it does seem a bit steep but in return for steady, consistent, and reliable financing - and perhaps one of the last rounds the company will need - it's not terrible.
The company agreed to reduce the conversion price of Cyrus's existing debenture from $7.50 to $3.00
THAT IS ON $19.5 MILLION IN DEBT.
So instead of converting to 2.6M shares, those Cyrus convertible debentures now convert into 6.5 million shares!!!
I am stunned after seeing a 20K-share buy take the price from .136 to .1428
Now the spread is more than 1/2 a cent!
Sellers so thin now.
AMDA
The next leg should start with a bang before EOW.
AMDA
This is a great loading opportunity.
I think the price will respond to the news before the end of the week. If I was short I would certainly be on edge right now and looking to cover.
Important points:
-- Someone just dropped $5M on this stock @ $2/share (paying a premium to recent/current market prices)
not something anyone just does without a heck of a lot of confidence
-- Trading mechanics appear to indicate that MMs are accumulating
-- Material catalysts are building up to a breaking point, with news of new agreements possible at any time.
-- As of this financing, the company will have sufficient capital to carry its operating costs for several quarter, by which time, they may be cash-flow neutral or positive.
ANY
They didn't want the share price to be down-trending during the conference.
They held it back and by doing so have solidified a base and let the technicals cool off on the chart.
She's ready to roll now. Expecting a modestly good close today and then the party begins tomorrow. Hopefully management is bringing some good news as well.
AMDA
Higher lows are looking good with the bull pennant reaching an apex today/tomorrow.
I was hoping for a dip to the 10MA but it is now looking increasingly unlikely. Loading some more here as I expect the next leg to begin with a nice move before the end of the week. If, by chance, it tests the 10MA then it will be short lived IMO.
AMDA
Glad I bought some shares here at $1.7 and $1.8
Selling commons at $2 with warrants at $2.5 and $3 combined with the chart means we should have a nice leg up here.
I believe in the company and what it offers but hadn't pulled the trigger to enter until now. Seems like the sun is rising over ANY and the heat is going to turn up in the medium term.
ANY
So many things wrong with this calculation. Appreciate the honesty effort but this is not realistic by any standard.
An incomplete list of issues: you have OS wrong, no consideration of fully diluted share count, revenue is not indicative of cash flow. More to mention but I have to go eat turkey until I pass out.
Again, no hard feelings I hope!
Happy thanksgiving boss
So many things wrong with this calculation. Appreciate the honesty effort but this is not realistic by any standard.
An incomplete list of issues: you have OS wrong, no consideration of fully diluted share count, revenue is not indicative of cash flow. More to mention but I have to go eat turkey until I pass out.
Again, no hard feelings I hope!
Happy thanksgiving boss
Seems like this one is exhausted of sellers. I think the chart is setting up for a move as the OS is not that large and should at least allow a dead-cat bounce (above .1) before eventually heading lower if it does.
SPDC
Still love the chart here, one of the best setups.
Sellers yesterday who didn't subsequently buy it back before close are crazy IMO.
AMDA
No man left behind will become no greenback left outside the US.
BAA
This baby is next after AEZS.
Beautiful chart looks ready for an explosion, quite possibly today or tomorrow.
AMDA
Nice day here indeed - quite as expected and perhaps a bit better!
AEZS
OhManIDied Sunday, 11/22/15 12:03:13 PM
Re: bullforever post# 13512
Post #
13513
of 13655 Go
Well said, I'm fully on board with your fundamental analysis and bullish sentiment. The widespread retail fear/panic we are seeing is encouraging as well.
As for technical analysis, I am loving how the chart is shaping up as of late. This stock has a tendency to swing large to the upside once the slow stochs hook upward off the bottom and I expect to see this play out in the week ahead, especially now that the float is rather thin and Friday's candle was excellent with a HOD close on massive volume.
We could very well see a gap & run tomorrow which is why I could not resist adding a bit more above $4 at the EOD.
AEZS
Well said, at least we know for sure that it can't exceed 9.99% of the OS on any given day. hehe.
+1 and good luck.
RXMD
I've uncovered the following data regarding such transactions which the company has with Tarpon:
The earlier belief that Tarpon "may only distribute up to 20% of the daily volume" may be hidden here, it evades me for now.. maybe just a little further down the rabbit hole which is Rule 145.
If all else fails, call and ask the management, they are sure to know.
RXMD
https://www.sec.gov/interps/legal/cfslb3a.htm#P151_23831
5. Resale Status of Securities Received in a Transaction Exempt From Securities Act Registration Pursuant to Section 3(a)(10)
In Securities Act Release No. 8869 (Dec. 6, 2007), the Commission amended Securities Act Rule 145 to eliminate the presumptive underwriter provision in Rule 145(c) except for transactions involving a shell company, other than a business combination related shell company.
Accordingly, it is the Division’s view that securities received in a Rule 145(a) transaction not involving a shell company that was exempt under Section 3(a)(10) may generally be resold without regard to Rule 144 if the sellers are not affiliates of the issuer of the Section 3(a)(10) securities and have not been affiliates within 90 days of the date of the Section 3(a)(10)-exempt transaction, as such securities would not constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act. In the event that the securities are held by affiliates of the issuer, those holders may be able to resell the securities in accordance with the provisions of Rule 144.23
When a Rule 145(a) transaction is exempt from Securities Act registration under Section 3(a)(10) and any party to that transaction is a shell company, other than a business combination related shell company, then the Rule 145(c) and (d) resale limitations apply to any party to that transaction (other than the issuer of the Section 3(a)(10) securities) and to any person who is an affiliate of such party at the time such transaction is submitted for vote or consent.24 In those situations, holders who are deemed to be underwriters under Rule 145(c) may resell their securities without registration in the manner permitted by Rule 145(d).25
I searched high and low for the source of the information you requested. I believe I may have been informed by management, with whom I had regular but apparently non-beneficial communication with for a period at the time.
Best of luck to all here. Since a few of you are wondering: I haven't moved on. Looking forward to debt-free status.
RXMD
Well said, I'm fully on board with your fundamental analysis and bullish sentiment. The widespread retail fear/panic we are seeing is encouraging as well.
As for technical analysis, I am loving how the chart is shaping up as of late. This stock has a tendency to swing large to the upside once the slow stochs hook upward off the bottom and I expect to see this play out in the week ahead, especially now that the float is rather thin and Friday's candle was excellent with a HOD close on massive volume.
We could very well see a gap & run tomorrow which is why I could not resist adding a bit more above $4 at the EOD.
AEZS
Yup just confirmed this.. The friend I just got to his house admitted it was him.
I'm still in a state of shock.
AMDA
Automated prank dial website called me with an angry tone accusing me of hitting their car and leaving a note..
Hah. Bastards stopped me from entering my filled out order to buy .101s
AMDA
So pissed I missed loading more low .10s -- I got prank called out of the blue when it dipped - first time in years. wtf...
AMDA
I see that, not that bad. I'd say the financing is having a strong impact.
AEZS
On May 26, 2015, we entered into a new common stock purchase agreement with Aspire Capital Fund, LLC, which provides that, upon the terms and subject to the conditions and limitations set forth therein, Aspire Capital is committed to purchase up to an aggregate of $25.0 million of shares of our common stock over the 30-month term of the purchase agreement. Concurrently with entering into the purchase agreement, we also entered into a registration rights agreement with Aspire Capital, in which we agreed to file one or more registration statements, as permissible and necessary to register under the Securities Act of 1933, registering the sale of the shares of our common stock that have been and may be issued to Aspire Capital under the purchase agreement.
Under the new purchase agreement, we have the right to present Aspire Capital with a purchase notice, directing Aspire Capital to purchase up to 150,000 shares of our common stock per business day, up to $25.0 million of the Company’s common stock in the aggregate at a per share price equal to the lesser of: (i) the lowest sale price of our common stock on the purchase date; or (ii) the arithmatic average of the three (3) lowest closing sale prices for our common stock during the twelve (12) consecutive trading days ending on the trading day immediately preceding the purchase date.
17
In addition, on any date on which we submit a purchase notice to Aspire Capital in an amount equal to 150,000 shares and our stock price is not less than $0.50 per share, we also have the right, in our sole discretion, to present Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of our common stock traded on its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of shares we may determine. The purchase price per share pursuant to such VWAP purchase notice is generally 95% of the volume-weighted average price for our common stock traded on its principal market on the VWAP purchase date.
The purchase price will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, or other similar transaction occurring during the period(s) used to compute the purchase price. We may deliver multiple purchase notices and VWAP purchase notices to Aspire Capital from time to time during the term of the purchase agreement, so long as the most recent purchase has been completed.
The purchase agreement provides that we and Aspire Capital shall not affect any sales under the purchase agreement on any purchase date where the closing sale price of our common stock is less than $0.25. There are no trading volume requirements or restrictions under the purchase agreement, and we will control the timing and amount of sales of our common stock to Aspire Capital. Aspire Capital has no right to require any sales by us, but is obligated to make purchases from us as directed by us in accordance with the purchase agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future funding, rights of first refusal, participation rights, penalties or liquidated damages in the purchase agreement.
In consideration for entering into the purchase agreement, concurrently with the execution of the purchase agreement, we issued to Aspire Capital 375,000 shares of our common stock (the “Commitment Shares”). The purchase agreement may be terminated by us at any time, at our discretion and without any cost to us. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of our common stock during any time prior to the termination of the purchase agreement. Any proceeds we receive under the purchase agreement are expected to be used for working capital and general corporate purposes.
The purchase agreement provides that on the date of its execution, that certain Purchase Agreement, dated as of November 8, 2013, as amended, by and between us and Aspire Capital, was terminated.
Why is price so depressed?
Just started snooping around this one.
ATOS
Well played though, gl
AEZS
It's "$GDM.X"
AMEX Gold Miners
You may also be interested in /GC and $HUI.X (NYSE ARCA Gold Bugs)
BAA
I like what you're thinking on the other one, I'm with you.
What about this one?
AEZS
Love this one, may have to add to my position from low .10s
I think it can hit .20 by the middle of next week.
AMDA
Lol @ "within 10 days" -- gee thanks Etrade!
AEZS
If that's true and even possible, it would explain a lot today.
Has anyone tried to sell their etrade shares that weren't converted yet?
AEZS
Got $3.6s -- thanks so much guys. <3
Market cap = 7M (fully diluted OS) X $3.6 = $25.2M
Current cash on hand = ~$33M
Cash at end of Q4 = $28M
AEZS
Why would you sell below $4 in the first place?
Fear-mongers got you guys by the balls. Sell for a loss already so we can move on without you.
AEZS
This Is How GOLD Acted During Past Rising Rate Cycles
http://www.zerohedge.com/news/2015-11-19/how-gold-acted-during-past-rising-rate-cycles
Summary:
Contrary to the 'pundits' and 'writers' who make statements that the crowd wants to hear, we underpin our investigation based on historic facts and figures. In particular, we analyzed gold's reaction after interest rate hikes in the last decades (as of 1972, when gold started to trade freely).
As we are exiting a period of exceptionally low interest rates with a moderate economic growth, present times are comparable to the time period 2004 to 2006.
As interest rates rose during those years, the price of gold followed that path higher as of the moment the Fed engaged in a monthly rate hike. During the last phase of rate hikes, gold started to rise even exponentially.
We believe that this path will be repeated in the future. We will most likely see a pattern of higher lows and higher highs, as gold's decline is about to stop when they hike.
Lots of negativity here, dare I say a little bit more than is warranted.
The fully diluted market cap is currently equal to the expected free cash at the end of Q4. This values the cash at cash value and the pipeline at zero.
AEZS
Starting to load up low .10s -- the Termination date for Series B came and went. I think they push the price up now as the Series A and C are private placements and will yield restricted common shares when exercised. Right now they can be exercised for ~0.07c based on my rough estimation.
AMDA
Excellent observation, I somehow missed this as I was trying to figure out the exact terms of the warrants.
By definition, the Series A and C warrants will not exert a "physical" trading force against the share price (at least they won't add selling pressure) as they are private placements, not registered with the SEC, and therefore will be restricted for 1 year after they are converted to commons. The recent price-crushing is only to get a low conversion price for A and C so that the company will be able to find a buyer on them - which they already have done.
This bodes well for the share price this week, I think we will see a major recovery. Technically it is set to fly.
I made a nice flip from .11 to .14+ today.. I sold because the terms of the adjustment price of the warrants call for low closing consolidated bids for 3 of 5 prior days. I will reload at some point today or tomorrow (probably at the EOD) and ride this back up.
I think the automatic exercise date is now Nov 17th as the series B will be terminated and converted to cashless series D warrants at the appropriate adjusted "market price" -- the auto conversion failed as the minimum dollar trading volume requirement was not met.
Adjustment
The Series B Warrants are exercisable initially for 13,123,360 shares of Common Stock. Immediately following the close of business on the trading day immediately prior to the Series B Automatic Exercise (the “Series B Adjustment Time”), if the exercise price of the Series B Warrants then in effect is more than 75% of the Market Price (as defined below) then in effect (the “Series B Adjustment Price”), on such date the exercise price of the Series B Warrant will be adjusted downward to the Series B Adjustment Price and the number of shares of Common Stock issuable upon exercise of the Series B Warrants shall be increased such that the gross proceeds from exercise of the Series B Warrants shall equal $5 million.
The term “Market Price” means the quotient of (i) the sum of the three (3) lowest closing consolidated bid prices (as used by The Nasdaq Stock Market) of the Common Stock for any trading day during the five (5) trading day period commencing and including the Series B Trigger Date and ending and including the trading day with a close of business ended immediately prior to the Series B Adjustment Time, divided by (ii) three (3).
Seems like the Series A and C holders are trying to get their price adjusted quite a bit lower. Once that is complete I expect that they would want the share price much higher than 40% off the recent 52-week lows.
I picked up a position at .14 this morning... shame to see it returned.
AMDA