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Merger news and financing news is out see post 57!
I did a calc, the finacing gives them .06/share of cash in the bank! And the merger will complete in under 2 weeks!
Heads up folks, I am buying all the MHAN I can get at this price. News was out an hour ago that they got 2.5 million dollars in financing and will complete the merger in less than 2 weeks! MHAN is still only .065 as type!
Manhattan Pharmaceuticals Completes $2.5 Million Financing
BY GlobeNewswire
— 07:35 AM ET 03/04/2010
NEW YORK, March 4, 2010 (GLOBE NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. (MHAN
MHAN MANHATTAN PHARMS INC 0.07
Change 0.00 (0.00%) AS OF 12:00 AM ET 03/03/10.
Chart for MHAN
) today announced the private placement of $2,547,500 of its common stock and warrants to accredited investors. The Company intends to complete the previously announced merger transaction with Ariston Pharmaceuticals, Inc. within the next two weeks. The net proceeds from this financing will be used to advance the combined company's products including AST-726, a nasally delivered treatment for vitamin B12 deficiency, and Hedrin(R), a non-pesticide treatment for pediculosis (head lice), and for general corporate purposes.
The Company sold approximately 102 units for aggregate gross proceeds of the offering of approximately $2.55 million and aggregate net proceeds of approximately $2.2 million. Each unit consisted of (i) 357,143 shares of common stock and (ii) 535,714 warrants to purchase additional shares of common stock at an exercise price of $0.08 per share.
The securities have not been registered under the Securities Act of 1933, as amended, (the "Securities Act") or any state securities law. The securities offered and sold were issued in a private placement transaction and may not be transferred or resold except as permitted by the Securities Act. As part of the terms of the private placement, the Company has agreed to file a registration statement to register for resale under the Securities Act the shares of common stock underlying the units. "
I suspect the MS sold them to himself and plans to distribute them at .07/share. We will see if more sellers give up. I think some one just bailed finally, tired of waiting while everything else was going up this week. OR! Some one shorted the stock, to start some selling so they can buy cheap!
We just hammered into the stonage, .03 this morning. I put in a large bid to double my position at .035, but no takers yet.
We gust got hammered down .03 on 140,000 shares, with no news that I can see.
A retired oil and gas $$$$$air friend of mine says he bought a bunch of this stock for his Gkids, as he knows and likes the management. He told me this after I told him I was buying, and adding shares. I did not even know if he had ever heard of the company since it is so new when I told him about it, so I had already been accumulating when he told me it was a keeper. This same guy has been telling me to stay in cash lately for a big pull back coming this year, including most oil and gas stocks. So I am still adding shares every time it pulls back lower. I have no idea how low it will go, but it is the only stock I am buying and adding to right now. It already nearly took off last week, up some 35% for a few hours one day before it dropped back. The daily volume has been very small on the pull back days.
Anyone here got a concise story on the status of this bank?
Will it survive, if so why? Why is price so low?
That requires sodium hydroxide unless they have something new I don't know about, and would be too costly, and impractical in any real quantity. If the DOE gave them money, then CABN should have no problem getting a grant too, IMHO.
I am hoping some one has the time to read the 100 page (typical size) quarterly report for us (I am too busy these days). The answer certainly would affect the target value of the Stock.
I found a sell-if (but NOT a sell!!!) status on EK at the americanbulls.com web site, a candle stick analysis site for stocks.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=EK&MarketTicker=NYSE&TYP=S
Americanbulls.com posted a buy-if signal on CABN Friday based on candle stick analysis.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=CABN&MarketTicker=OTC&TYP=S
AmericanBulls.com posted a buy-if on their web site for COIN Friday based on candlestick analysis!
http://www.americanbulls.com/StockPage.asp?CompanyTicker=COIN&MarketTicker=NASD&TYP=S
Americanbulls.com posted a buy if on TTEG based on candlestick readings Firday:
http://www.americanbulls.com/StockPage.asp?CompanyTicker=TTEG&MarketTicker=OTC&TYP=S
I was pleasantly surprised to see us up all day Friday on good volume, in a near crashing market with no fresh news.
Does anyone know when the last quarter report is expected?
I am curious what others here think of the EK estimates for earnings for 2009. I am still not sure I (and others) have the total picture. The patent royalty payments seem to be a big question in the latest EK projections by EK for 2009 GAAP income. Does anyone know if the +/- 50 million profit/loss projection for EK included the huge royalty payments?
I held, and even bought some stocks friday. I have seen this first week of the month sell off (shorting) pattern in the market too many times since March 09, almost like clockwork, only exception was Dec 09/ Jan 10 (which was a Christmas bonus, promote retail sales deal).
Kind of discouraging here today, to see this pull back. Most of my stocks are way up today, except this one. Maybe cash will move back in here tomorrow. I just checked free charts and we are holding just above a 200 period moving average on the hourly chart. And we are right at a 68.1% fib retrace support right now, so this may be a back trace before trying to test $1 again. If we hold this area and bounce up (and go no lower than about .85) we will have bounced a second time off the 200 period moving average on the hourly chart. This may be a good entry, buy point.
I started buying shares in this company recently. So far it seems to keep dropping, but has had some mini rallies along the way. It is a new natural gas play, very speculative, but the price is near an all time low today, and at about 15% of recent highs, so I am stocking up buy shares here hoping for news, and a bounce soon. What nes I have read sounds promising, but I have no idea where the real bottom is here, but is near the 52 week low since it started trading a few months ago.
Glad you posted that. I just caught my prior error about the data. It happens Feb 16th, not today.
FYI, We got an announcement today that all outstanding COINU shares (units) will split immediately into 1 COIN share and one W warrant, at no cost to COINU holders.
Why wouldn't they sell the property to raise cash?
I am a little surprised we are not up to $8 already, but the options guys may plan on holding us back till options expire in three weeks. I may buy more right here, or Tuesday if we have any retest of $6 before the race up. We could be up to $15 by years end.
I am hoping to get a buy in at .09 tomorrow, before the big rallies later in the week.
That answer depends on how bad the current market sell off world wide gets, and where and when it bottoms. I am still holding some shares here, but only a fraction of what I was as I don't trust the short term markets not to drop a bunch more this week. I doubt any stock like this will do well while the markets sell everything in site indescriminatly. Right now I am not buying any more until I see some sanity return to the markets. Or shear panic and rivers of blood in the streets.
How did they cover, or pay the 11 million dollars in losses?
Greener, I think both have a future in the same general market area. Competition of a sort, but different end products and markets. The potential at this point is so huge in this area, the two probably will never really compete directly. If anything the "other" one shows that they are on the right path concerning what to do with excess CO2. I might add that many of us have been back forth between the two boards discussing both companies due to their similar approach in handling the CO2 problem, i.e. making useful products out of it, instead of burying it.
Wow, no comments here at all since Thursday? Everyone on vacation along with the stock price?
I don't think this one is done short term on the rally yet, but it may get a cheaper again with the way the market is correcting. I was surprised to see the $1.00 price support at closes go under water. Unfortunately for me I held too long thinking $1 would hold. Did anyone notice that COINU closed up 18% friday?
This is one to watch very closely. I am long, and have been since about march of 09, but its price action (and dilution) has forced me to buy low and sell some high (I still have losses from buying at .31 oringinaly, but I stocked up with more shares at .06 the day bottom fell out) , until some real big long term investors show up and set this one sailing. The current market is swamping stocks like this one with panic selling which is not helping either. Volatility is returning. The trick here will be to keep and hold some shares for the day when the big news hits and the stock pops up to $1 with a gap up at the open. Then it will be too late for flippers to go long.
I don't think our problem is just flippers. The market is in a serious correction and taking no prisoners right now.
Did you see the latest news on CABN?
What was really new was not needing pure CO2 and pure water. Now they can use dirty water and coal power plant flue gas directly. That is a huge power, entropy, and capital cost improvement.
I am not sure a post like that is any more reliable than a bash post. I am waiting for someone to panic in the recent market wide sell off and run for cover here. Then I might finally grab a few shares and take the risk to go long. GLTA.
When are we going to see finacials, or some kind of report, sales......
When are we going to see finacials, or some kind of report, sales......
Tonight's press release is so bullish, it sounds like they will be building one full scale with a partner by year end, based on the news they have enqueries already. I wish I had not sold 90% of my shares now, but I was afraid we heading way down to .06 again. Not after this news. We might just hit a 52 week high of this PR!
http://money.cnn.com/news/newsfeeds/articles/marketwire/0580037.htm
This puppy is going to gap way up in the morning. I hope every one did not sell all their shares. I am guessing .20 to .30 in minutes of the open tomorrow.
Sorry to disagree on your "half a brain" statement. You assume too much. I never short stocks, so I know little about who can and can not short them. There is a difference between ignorance and stupidity.
I did find the comments interesting, and informative (Scott trade, versus the others).
Has anyone gotten their hands on the annual report and read it? If so what was intersting? I won't have time to read for a few days, would find any summary interesting to hear.
I must agree. I am pretty sure the nose dive last 2 days was fear that Washington was about to can Bernanke in a political move to go after votes. I think some senators saw the market crashing last 2 days on rumors they would replace him and then suddenly had second thoughts. If they had continued the attack next week on Bernanke, you would have seen 1000 (and then 900) on SPX disappear in a puff of smoke. Perhaps Washington learned something last time they decided to muck with Wall Street and crashed it 900 points on the DOW in one day.
Bernanke is possibly the sole reason we are not already in great depression II.
That is good news. Does anyone know if we are still getting the monday news, or article I read was coming earlier here?
Do you have a link to that news?