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Wearelegion: Thanks for the SEC lesson, but we don't live in a perfect world. I've been in and around the accounting and finance business since the 1980s and have seen MORE than my share of BS in that world. It would be nice if everything worked out "above board" for everyone on this planet, but I'm afraid that is just not the case. I for one do not live in a fantasy world where all is good.
Btw, I think you were referring to 5% of OUTSTANDING shares and not AUTHORIZED shares in your post.
Why would you think that the PIPE financiers (Basu) have no knowledge of the true state of the company? I suspect they know every detail.
I don't see why restating the financials back to '02 should be such a big hold up. We're basically only talking about x'ing out India (once settled), and I wouldn't think that would be such a big deal for a company which pretty much had no revenues. Outside of the Indian exclusion/inclusion, I would think that the accountants should have the prior period adjustments fairly up to speed by now. Regardless of the state of Pandey's records, it's not like they haven't had time to deal with this. We'll be going on a year of this crappola pretty soon now.
Interesting article. Now if only this company could possibly reincarnate itself, I might start believing in reincarnation myself!
Works for me. I hope your crystal ball is running on all cylinders.
Yeah, great demand here. What can we expect from the company in the future? Maybe the same 8k every two months that basically says not to believe anything that the company has ever reported. That's going to do wonders for the stock price. Can't wait until April's 8K!
I don't own it, but have been following it for a couple of years since their tiny little office is located in the proximity of my office. IMO, don't even get your hopes up by asking questions like that because I don't think there's a chance in hell of a real cash dividend here. Do your DD!! This company is not flush with cash! A couple I know well has been invested here for a long time, and believe me, they are not very happy with what is happening here. Just a warning from a guy on the sidelines FWIW.
Where did you get the management picture?eom
Unless something changes drastically, I'm hoping for criminal charges against them all. As I've said before, I wouldn't be surprised if all of these guys are buddy buddy, and that the legal conflict is nothing but smoke and mirrors to buy time and deflect blame. The "partner" reference you referred to sounds like pretty damning evidence.
Sorry to hear about the weather up north Lochute since it was 70 degrees and clear here today, but as you know as a former moderator, your post should be deleted immediately as it does not pertain to xkem. You know that it's only fair to be equitable to all posters! LOL!!
Certainly a case of the fox guarding the henhouse. If RS thinks he can somehow distance himself from this by changing his title from CEO to Chief Oversight Officer than he has got another thing coming. He's the chief officer of this company, AND he appears to me to be WELL tied in with the investment group. Anyone else suspect that they don't plan on disclosing anything until enough warrants are exercised to give them complete majority control of the company? And all of this time they refuse to allow us to participate in the management of this company by denying us our right to vote. Absolutely ridiculous!
No news = no demand. Who knows what was up with the decent volume yesterday? For the most part, only people who found out about this company many months ago are even aware of this company's existence. These guys have got this company well hidden in the far back corner of the dresser drawer.
You mean kind of like dell stock? LOL! That one has caused a lot of people a lot of pain over the past several years. Thanks so much for the warning, but it's a little late for me. I've been in this stock quite a while now, and consider myself an official bagholder here. I still have hope that my bagholder status will change, and for the moment I'm going to just sit here and hold on to my bag.
Did you miss the history that shows it going over a dime? If the management situation is somehow straightened out here, this stock can go anywhere it wants.
I didn't say that the 8k states that they don't want the ownership interest, I'm only saying that this has been my take on their litigation strategy in India. Just an opinion I've arrived at from the limited information that they have provided on this issue.
The way I have been reading it, is that Xechem International doesn't want to prove the 2/3 ownership. Pandey does. I'm guessing that if Xechem International has no ownership interest in Xechem India, that all transfers were illegal and all asset transfers should be "cancelled" and returned to Xechem International. That "cancellation" would also apply to any liabilities assumed by Xechem International on behalf of Xechem India. Just the way I have been reading it. Any thoughts?
Getting this litigation behind us would be a nice first step to hopefully becoming a fully reporting company again. Definitely not desireable to drag it on and enrich the lawyers at this stage of the game.
Oh I get it. Swift/Basu are our protectors and are only concerned with our well being. They simply want to shield the delicate shareholders from all of the dangers lurking out there in xkem land. Makes perfect sense now.
LOL! If Swift and Basu are our friends, they sure have a funny way of showing it. I don't have too many friends who refuse to converse with me and avoid me like the plague.
Exactly whom are you thanking? Your Chief Oversight Officer? LOL! When will our time come btw? Before our grandchildren go on Social Security I hope.
Gracias. eom
Anybody got a RTQ? Not logged into my broker and I noticed a delayed of .0026.
Yeah, let's just sit back passively and let this gang violate our corporate bylaws and do what they wish with our company. Hey, it's only money. We might as well give it to someone, and why not Swift and Basu? It may even be more beneficial to you as a Schedule D/Form 1040 pg. 1 writeoff than it would be as a charitable contribution deduction!
I'm glad to see that some of you are finally coming around to the fact that management is currently the one doing the "strongarming" around here, but it is too bad that you waited until the board went on life support before waking up to that fact. I would say that you waited too long, but I guess I'll say better late than never. These guys have basically told us, the owners of this company, to go to hell.
Not really enough volume either unless you're looking for dinner money.
Not entirely untrue. If they cared about us at all, they would at least be working on (and PR) the outcome of any licensing agreement extension with the Nigerian Govenment. That issue should be resolved NOW. At least that would give us some hope that we're not dead yet.
Sure you don't mean "BYE" "BYE" "BYE"? eom
Not to defend Pinata in any way, but wasn't that 125 mill shares in December related to the stock dividend?
Could be true. This gang has done nothing in all of these months to project this company as being on track for anything substantially legitimate for the common shareholders at all. To me, they are either inept fools who are in over their heads, or they are only interested in trying to turn a quick buck for themselves. If the inept scenario is correct, then I think that you are correct that someone else may try to take advantage of the situation. If the quick buck scenario is correct, then I think that a company with a tiny five million dollar market cap, soon IMO to be totally controlled by the Basu Group, will be on the move one way or another very soon. I suspect that we will have a better feeling for their plans by sometime this Spring.
Never seen a bigger joke of a PR in my life. What is happening to all of that net income from last year? Pinata's salary or is it drawing interest in a checking account? I don't own any (thankfully) but I know someone who does, and Pinata's little office is near mine in Irving so I've had an interest in following this thing for quite some time. Really don't get what's going on with this company.
Very true. I just hope that they don't have plans to simply run it into the ground. They've done a pretty good job of that so far, and if they are smart, they'll give the long-term shareholders a reasonable chance to at least recoup their investments before pulling any kind of moves to totally shut us out. If they don't, then they are creating additional problems for themselves. I hope that common sense wins out over pure and selfish greed.
Now I know why they call him Chief Oversight. It must be a nickname he picked up in Nigeria due to his feeble memory. I guess that it must simply be an oversight that he has forgotten to communicate with the shareholder owners of this company.
Probably the revelation of a buy confirmation. LOL.
Pickleking,
The lawsuits are NOT a justification for this company's refusal to communicate with its shareholders IMO. EVERY company has lawsuits at one time or another, and the "Pandey" situation does in no way justify management's behavior. Swift and company obviously have their own agenda. They have lied to the shareholders in a major way, and I believe that they are currently executing a plan to benefit themselves.
A good start would be to file complaints with the SEC and the Delaware Attorney General's office, and to sue xkem for access to the company's documents and records. Shareholders have the right to participate in management, and that is obviously not occurring here in any shape or form.
It appears that way. He needs a Swift kick in the butt for his behavior.
Delaware and most states require an annual shareholder's meeting. I have not read xkem's bylaws, but the specifics should be there.
Yes, apparently so. Swift is obviously a liar. Anyone who says otherwise did not catch his promise to update the shareholders by year's end. If there was a justifiable reason for his backing out on his promise, he should of at the very least expressed that reason to the shareholders.
Posted on the lame yahoo board:
Question:
"Does anyone know how to get more information on Xechem and where they currently stand? Thanks"
Answer:
"Go to Nigeria, burst into the office if you can find one, grab
someone by the collar if you can find anyone, and force them to speak. Otherwise, go to one of their numerous court dates in the U.S. or India and do the same thing to anyone who is there representing Xechem. This is the only way to find out anything about this company."
LOL! Kind of funny, kind of sad, but unfortunately kind of true. Frustrations with this company are pretty evident.
Maybe he's better at making himself money than he is at making medicine. Wonder what we're paying him?