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From Bret Jensen's Biotech Forum today:
Our spotlight feature to end the week is on a small biotech stock called Genocea Biosciences (NASDAQ:GNCA).
Company Overview:
Genocea is focused on developing vaccines and immunotherapies to treat infectious diseases. The company has created a pipeline of novel vaccine and immunotherapy programs that stimulate the T cell arm of the immune system using its ATLAS™ proprietary technology platform. The company is based in Cambridge MA and came public just over two years ago. The company has a market capitalization of approximately $120 million and the stock currently goes for just over $4.00 a share.
Pipeline:
The company has several vaccines and compounds in discovery or pre-clinical stage. It has two compounds in Phase II development. The first is GEN-003, a first-in-class, protein subunit T cell-enabled therapeutic vaccine, or immunotherapy, designed to reduce the duration and severity of clinical symptoms associated with moderate-to-severe genital herpes, and to control transmission of the infection. Nationwide, 45 million people ages 12 and older, or one out of five of the total adolescent and adult population, is infected with HSV-2. Woman have a slightly higher chance (1 in 4) of carrying the disease than men (1 in 5). Most individuals do not know they have the disease. The company expects to report virologic efficacy data from their recently initiated Phase 2b trial in the third quarter. At the end of the year, Genocea projects it will deliver six-month clinical efficacy data from this Phase 2b study
The second developmental compound is GEN-004 which is a novel T cell vaccine. It is aimed at preventing colonization of the upper airway by all serotypes of pneumococcus, the underlying cause of pneumonia. GEN-004 is designed to provide protection against each of the more than 90 serotypes of pneumococcus, thereby offering potentially universal protection against pneumococcal disease.
Analyst Commentary & Outlook:
The analyst community is overwhelmingly positive on the stock. The medium price target by the six analysts that cover the stock is $14 a share. Price targets range from $7 to $40. The last analyst comments were early in May when FBR Capital reiterated its Buy rating and $17 price target. The analyst firm noted that the company has several trial milestones over the next nine months. Cowen & Co. is the biggest bull on the stock with a $40 price target on GNA. Its analyst believes GEN-003 could have $700 million in peak annual sale potential.
The company had over $95 million in net cash (over 75% of market capitalization) at the end of the first quarter which management has stated should take it to the second half of 2017. Genocea seems like it has boom or bust potential but is years away from any commercialized success. Its cash on hand should get to the end of Phase II trials for its two main compounds. After that, it is highly likely the company will have to raise additional capital to continue development which could involve significant dilution.
The stock has declined some 75% from its 52 week highs so for aggressive investors, the risk/reward profile certainly looks better than it did this summer. If Cowen is anywhere to close to right on GEN-003 peak sales potential, the stock seems to substantial upside if development leads to commercial approval. I am on neutral on this one as I think there are better opportunities in the small cap space right now with nearer term catalyst
Nice site, but I noted many of the stores in my area which DO carry Jefferson's are NOT listed. Sent in a note via their contact mechanism.
Yes, estimates like that take time to construct carefully. So, by all means, take the time.
One of a series of educational videos, ths time on how rum is produced:
http://www.liquor.com/video/rum-in-60/?utm_source=Sailthru&utm_medium=email&utm_campaign=06.03-rum-in-60-ab&utm_term=Liquor:%20Total%20%28Consumer%29
There are links below the video on other alcohol types.
That will take some assumptions and mental math. At which you excel.
Fun, It seems to me the offerings of Jefferson's bourbon products are getting more frequent at Caskers. This implies to me that it is a good seller there.
https://www.caskers.com/spirits/jefferson-s-ocean-aged-at-sea-cask-strength-kentucky-straight-bourbon/?_ke=c29tZWNvbmNlcm5zQHlhaG9vLmNvbQ%3D%3D&utm_term=Daily+Email&utm_medium=new+Email&utm_campaign=Klaviyo&utm_content=Image+4%2F%28F2016&utm_source=Caskers
Jefferson's Ocean Aged at Sea Cask Strength Kentucky Straight Bourbon
Aged at sea on a huge container vessel. this cask strength bourbon stopped in five different continents and crossed the equator four times during its journey.
reg $149.99 sale $104.99
The principal author of the Declaration of Independence and one of the greatest Founding Fathers, Thomas Jefferson was elected the third President of the United States in 1800. During his tenure, Jefferson authorized the purchase of the Louisiana Territory, dispatched Lewis and Clark westward in order to explore the remainder of the continent and repealed the Whisky Excise Tax.
After Jefferson retired from public office in 1815, he often tended to the garden that he had cultivated on his Monticello estate. At the time, it was customary for wealthy farmers, including Jefferson, to distill the excess grains they harvested from their farms into spirits (George Washington was one of the country’s largest distillers of rye whiskey). As a result, each farmer’s spirits were unique and reflected the local terrior of their farm. Jefferson’s Ocean Aged At Sea Kentucky Straight Bourbon Whiskey pays homage to Jefferson and the exquisite whiskey he distilled.
Jefferson’s Ocean Aged At Sea Cask Strength Bourbon is first matured in older bourbon casks for approximately six to eight years on land, before the casks are placed on a ship and allowed to rest for another several months at sea. At sea, the bourbon and oak casks are forced to mingle with each other as the ship — which stops in five different continents and crosses the equator four times during the journey — rolls back and forth over the water. In addition, the temperature and barometric pressure fluctuations during the sea voyage cause the oak staves to expand and contract, and allow the bourbon to extract more of the tannins and flavor from the oak during its maturation.
Bottled at cask strength for the first time, Jefferson’s Ocean Aged At Sea Cask Strength Bourbon has an aroma of cinnamon buns, orange zest, burnt sugar and marshmallow. Thick notes of salted caramel, figs and chocolate fudge dominate the palate, and lead to a playful finish accented by sweet mint, lemon cake and nutmeg.
We have only a handful of bottles available. Pick up a bottle today!
EMI, That is an interesting thread. While MARA is certainly not getting the love for pursuing enforcement, I doubt Flickr will be able to continue deflecting the blame on a"troll" for long. Either those folks will find workarounds or get really POed at Flickr and the service they paid for but are not getting.
I expect and hope Yahoo will blink first.
Best of luck to you as well. Now you can sleep at night!
From Casker's today only:
Jefferson's Reserve Groth Reserve Cask Finish Very Old Straight Bourbon Whiskey
This limited release was extra-matured in ex-Cabernet Sauvignon barrels from Napa Valley’s Groth Vineyards for nine months.
reg $114.99 now $99.99
The principal author of the Declaration of Independence and one of the greatest Founding Fathers, Thomas Jefferson was elected the third President of the United States in 1800. During his tenure, Jefferson authorized the purchase of the Louisiana Territory, dispatched Lewis and Clark westrrtrtward in order to explore the remainder of the continent and repealed the Whisky Excise Tax.
After Jefferson retired from public office in 1815, he often tended to the garden that he had cultivated on his Monticello estate. At the time, it was customary for wealthy farmers, including Jefferson, to distill the excess grains they harvested from their farms into spirits (George Washington was one of the country’s largest distillers of rye whiskey). As a result, each farmer’s spirits were unique and reflected the local terrior of their farm. The Jefferson’s brand pays homage to Jefferson and the exquisite whiskey he distilled.
Jefferson’s Groth Reserve Cask Finish Bourbon Whiskey was first aged in new American oak barrels for approximately six years before being extra-matured in ex-Cabernet Sauvignon barrels from Groth Vineyards for an additional nine months. Groth Vineyards and Winery is a high-caliber producer out of California’s Napa Valley that is particularly well-known for its Cabernet Sauvignon, and these special barrels give Jefferson’s Groth Reserve Cask Finish Bourbon Whiskey its unique and robust characteristics.
The whiskey has a starbright aroma of peaches, blackberries, caramel corn and toffee, which leads to a palate marked by burnt oak, red wine, cinnamon spice and dark and dried fruits. The finish is long and dry, with lasting notes of sweet tobacco, cornbread and baked apples.
This release, which was released in the summer of 2015, is extremely limited — pick up a bottle or two today!
Diz, If you are really really unhappy with BLRX, why not:
1. Contact management, express your discontent and ask what they are doing to remedy the problems; or
2. Sell and take your loss? Move on to something you feel is more promising.
I'm down in some stocks I still hold, and they remind me every time I see the symbols. If you sell, you can walk away and be bothered less by it.
All this is just IMHO, of course, and I wish you good investing results.
And I'm hoping that continues. lol
It has the potential.
Yes, well, I'm way underwater on this puppy. Not much invested and I can wait a long time.
And what does your crystal ball say for after D-Day?
Overall statistics showed colony count down though, as I recall.
My pleasure. Anything to help understand how these little guys work can ultimately aid in protecting them - starting with banning the neonicotinoids.
Oddly I just now had wholesome trio of 20-somethings at my door raising awareness of the need to save the bees.
I found the following story on the NPR iPhone App
Bumblebees' Little Hairs Can Sense Flowers' Electric Fields
by Nell Greenfieldboyce
NPR - May 30, 2016
Flowers generate weak electric fields, and a new study shows that bumblebees can actually sense those electric fields using the tiny hairs on their fuzzy little bodies....
http://www.npr.org/sections/thetwo-way/2016/05/30/479804121/bumblebees-little-hairs-can-sense-flowers-electric-fields?sc=17&f=1001&utm_source=iosnewsapp&utm_medium=Email&utm_campaign=app
Caskers selling Jefferson's Manhattans at $50 til midnight. Somewhat high but it is exposure.
MCLAIN & KYNE
Jefferson's The Manhattan Barrel Finished Cocktail
This barrel-finished cocktail contains six-year-old Jefferson’s Bourbon and is the result of a partnership of Jefferson’s founder Trey Zoeller and Esquire's Editor-in-Chief David Granger.
The pair spent two years and dozens of attempts honing in on the perfect recipe, which they ultimately found by mixing Jefferson’s Bourbon, dry and sweet vermouth and barrel-aged spiced cherry bitters. The exact bourbon used is six years old — it started at 125 proof and was refined to 82.3 proof — and once mixed with the vermouth and bitters, the resulting liquid is aged for an additional 90 days in oak barrels before being bottled at 68 proof.
https://www.caskers.com/jefferson-s-the-manhattan-barrel-finished-cocktail/?_ke=c29tZWNvbmNlcm5zQHlhaG9vLmNvbQ%3D%3D&utm_term=Daily+Email&utm_medium=new+Email&utm_campaign=Klaviyo&utm_content=Image+4%2F%28F2016&utm_source=Caskers
NR, $30 in 12 months sounds mmm..mmmm good to me.
Encouraging price movement this morning. R U buying more now?
Just a teaser that Sanofi wanted to oust the Galena BOD. However, it strikes me that some news service probably conflated two stories, as Sanofi is trying to oust the Medivation board.
News services do screw up, use wrong symbols, etc.
I'll take 20 more days like this in a row, please.
Penny, Sounds good to me.
That would be the instability represented by the fight over price. Some want to acquire while others are trying to keep a lid on the price.
Just my guess, as I have no clue.
Fun, ROX could grow sales in retail stores by spending a bit more to produce gift packs like they do during the end of year holiday season. I know back in December (I think), I was ready to buy two bottles of Goslings Black Seal rum when one of the staff pointed out to me another shelf with promtional boxes of the same bottle of rum packaged with two bottles of Goslings Ginger Beer. All at the same price. Guess which I purchased.
Usually I just see a bottle packaged with two old-fashioned glasses, which is not quite as strong a draw for me as free product. Tho I have been known to buy those as well.
I realize that is a different division (Under Trey) than Goslings, but still...
Fun,
I have to imagine that Caskers, as a mail order dealer, already has an impediment to sales in the form of the shipping fee, while at the same time customers in most jurisdictions pay no sales tax. Therefore, as they can offer all sorts of items which may not be in your local store, they rely on either or both of:
(1) sales to people who just can't get an item they want to try in a local store; and/or
(2) sales to people who value the convenience of delivery to their doorstep so much that they are indifferent to paying the higher price, even if they could find an item in a local store.
Just MHO.
Caskers offering Jeff's Reserve at a high price of $63:
https://www.caskers.com/jefferson-s-reserve-very-old-straight-bourbon-whiskey-6753/
Jefferson's Reserve Very Old Straight Bourbon Whiskey
Aged up to twenty years, Jefferson's Reserve award-winning, very old, very small batch bourbon earned a score of 94 points from the Beverage Testing Institute.
"94 Points (Exceptional; Gold Medal). A very nice sipper."
Beverage Testing Institute
"Grade: A-. The higher alcohol gives it a better body, with a lovely and slightly smoldering finish that hints at roasted marshmallows. It all comes together, inviting repeated and sustained sipping."
DrinkHacker
It was teriffic news. The high dose was effective and well tolerated.
Hope they do address that,, but expect it will be an expression of the party line.
Agreed. I simply want them to use the threat of repurchase and maybe a few shares actually repurchased, to underpin the share price. I am not parting with my shares.
Perhaps it is a smart move, at least to add this tool to their armamentarium. However, I'd rather they also add some new dynamite assets we can begin to monetize.
New filing (see link on this page):
On April 11, 2016, the Company entered into and consummated an agreement and Plan of Merger, with LAT Acquisition Corp., a Nevada corporation and wholly-owned subsidiary of the Company, and LAT Pharma, LLC, an Illinois limited liability company ("LAT"). Pursuant to the terms of the Merger Agreement, LAT Acquisition merged with and into LAT in a statutory triangular merger with LAT surviving as a wholly-owned subsidiary of the Company.
Prior to the Merger the Company was exclusively developing novel nanotechnology anti-infective drugs to combat multi-drug resistant bacteria. Developing this technology in-house is resource-intensive with respect to time, personnel and capital necessary for scientific discovery. The Company is seeking to license additional needed technology to help advance its research. As such, we are extensively focused on identifying and negotiating licensing rights with universities and inventors for requisite technologies to advance our own nanotechnology platform. These negotiations often are unsuccessful. Thus far they have not led to a license agreement.
As a result of the merger, we acquired two product development programs, "CIP Terlipressin Technology" and a minority stake in novel modified terlipressin compounds being developed by its partner PharmaIN Corp. (Bothell, WA). The Company's LAT Pharma, held a pre-investigational new drug ("pre-IND") meeting with the FDA in early 2016, and received guidance to develop an IND submission. If accepted by the FDA, "CIP Terlipressin Technology" could enter human clinical trials as early as next year (2017).
"CIP Terlipressin Technology" is being developed by the Company with the goal of attacking ascites at the mechanistic source by alleviating the portal hypertension and correcting splanchnic vasodilation, thereby increasing effective blood volume and flow, and causing the body to reduce or stop sending chemical signals to the kidneys to retain excess salt and water.
In 2010 LAT Pharma entered into a license agreement with PharmaIN covering the companies' collaboration to develop the first-ever version of the drug terlipressin for subcutaneous outpatient injection based on PharmaIN's proprietary drug delivery technologies. These compounds have recently demonstrated promise in pre-clinical laboratory models.
LAT Pharma and PharmaIN have exchanged small (low single-digit) ownership rights to each of the company's program, and plan to work together to advance both of them towards eventual product commercialization.
The Company will initially spend most of its efforts and resources on its "CIP Terlipressin Technology". This compound is furthest along in development. We anticipate using our expertise to manage and perform what we believe at this time are the most critical aspects of our product development process which includes completion of pre-clinical studies and planning for the filing of an IND with FDA for advancing to clinical studies.
We are now engaged in organizational activities and sourcing compounds and materials. We have not obtained any funding for our drug development business plan nor do we expect to generate revenues in the near future. We may not be successful in developing our drugs, start selling our products when planned, generate revenues, or become profitable in the future. We have incurred net losses in each fiscal period since inception of our operations.
The Company's activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the company's business plan.
We have incurred $162,254 of operating expenses for the nine months ended March 31, 2016. We anticipate incurring other costs associated with equipment purchases and general and administrative expenses, including employee salaries and benefits, legal expenses, and other costs associated with an early stage, publicly-traded company.
The amounts that we actually spend for any specific purpose may vary significantly, and will depend on a number of factors including, but not limited to, the pace of progress of our research and development, market conditions, and our ability to qualify vendors. In addition, we may use a portion of any net proceeds to acquire complementary compounds; however, we do not have plans for any acquisitions at this time. We will have significant discretion in the use of any net proceeds. Investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of our Common Stock.
Requirement for Additional Capital
The Company has engaged in limited research and development activities. We currently do not have sufficient funds to meet our planned drug development for the next twelve (12) months and we may not be able to obtain the necessary financing on terms and conditions acceptable to the Company. Assuming that we are successful in raising additional financing, we plan to incur $2,000,000 in expenses over the next 12 months
The Company had approximately $233,200 of cash on hand at March 31, 2016 and will be unable to proceed with its planned drug development, meet its administrative expense requirements, capital costs, or staffing costs without obtaining additional net financing of approximately $2,500,000 to meet its budget.
The Company has limited experience with pharmaceutical drug development. As such these budget estimates may not be accurate. In addition, the actual work to be performed is not known at this time, other than a broad outline, as is normal with any scientific work. As further work is performed, additional work may become necessary or change in plans or workload may occur. Such changes may have an adverse impact on our estimated budget. Such changes may also have an adverse impact on our projected timeline of drug development.
Management intends to use capital and debt financing, as required, to fund the Company's operations. There can be no assurance that the Company will be able to obtain the additional capital resources necessary to fund its anticipated obligations for the next twelve (12) months.
Capital Resources and Liquidity
As of March 31, 2016, we had approximately $233,200 of cash on hand in our corporate bank account. The Company is considered to be a development stage company and will continue in the development stage until generating revenues from the sales of its products or services. As a result, the report of the independent registered public accounting firm on our financial statements as of June 30, 2015, contains an explanatory paragraph regarding a substantial doubt about our ability to continue as a going concern.
We do not have sufficient funds for the next (12) twelve months and must raise cash to implement our strategy and stay in business. If we are unable to raise additional funds to develop our compounds, we may be required to scale back our development plans by reducing expenditures for employees, consultants, business development, and other envisioned expenditures. This could reduce our ability to develop and implement our business plan. In that event, investors should anticipate that their entire investment may be lost and there may be no ability to profit from this investment.
We cannot assure you that our compounds will be developed, work, or receive regulatory approval; that we will ever earn revenues sufficient to support our operations or that we will ever be profitable. Furthermore, since we have no committed source of financing, we cannot assure you that we will be able to raise money as and when we need it to continue our operations. If we cannot raise funds as and when we need them, we may be required to severely curtail, or even to cease, our operations.
If we are unable to raise additional funds, we will need to do one or more of the following:
If we are unable to raise additional funds, we will need to do one or more of the following:
? delay, scale-back or eliminate some or all of our research and product development programs;
? provide licenses to third parties to develop and commercialize products or technologies that we would
otherwise seek to develop and commercialize ourselves;
? seek strategic alliances or business combinations;
? attempt to sell our company;
? cease operations; or
? declare bankruptcy.
We believe that our existing cash, cash equivalents will not be sufficient to meet our operating and capital requirements until June 30, 2016. Any debt financing secured by us in the future could involve restrictive covenants relating to our capital raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions. We may not be able to secure additional debt or equity financing in a timely manner, or at all, which could require us to scale back our business plan and operations.
The above conditions raise substantial doubt about our ability to continue as a going concern. The financial statements included elsewhere herein were prepared under the assumption that we would continue our operations as a going concern. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty. Without additional funds from debt or equity financing, sales of our intellectual property or technologies, or from a business combination or a similar transaction, we will soon exhaust our resources and will be unable to continue operations. If we cannot continue as a viable entity, our stockholders may lose some or all of their investment in us.
Our management intends to attempt to secure additional required funding primarily through additional equity or debt financings. We may also seek to secure required funding through sales or out-licensing of intellectual property assets, seeking partnerships with other pharmaceutical companies or third parties to co-develop and fund research and development efforts, or similar transactions. However, there can be no assurance that we will be able to obtain required funding. If we are unsuccessful in securing funding from any of these sources, we will defer, reduce or eliminate certain planned expenditures in our research protocols. If we do not have sufficient funds to continue operations, we could be required to seek bankruptcy protection or other alternatives that could result in our stockholders losing some or all of their investment in us.
Emerging Growth Company
We are an "emerging growth company" under the federal securities laws and will be subject to reduced public company reporting requirements.
In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We are choosing to take advantage of the extended transition period for complying with new or revised accounting standards.
Off-Balance Sheet Arrangements
The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the Company's financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term "off-balance sheet arrangement" generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party, under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.
Before There Was Bourbon: Spirits In The Frontier Days
by Michael Veach - May 23rd, 2016
http://thewhiskeywash.com/2016/05/23/before-there-was-bourbon/
Kentucky was the first American West. In the 1770s, settlers started coming to Kentucky, traveling either through the Cumberland Gap or down the Ohio River. They had to bring everything they needed to live and prosper, and for many, that included stills.
Distilled spirits were a very important part of frontier life. These new Kentuckians worked hard from dawn to dusk. They had to build cabins and barns. They had to clear fields and plant crops. They had to care for livestock. There was always something to do, and it usually called for heavy labor, so when they awoke in the morning they would start the day with a drink of distilled spirits to ease the aches from the labors of the day before.
before there was bourbon
Life on the frontier (image via David Glasson/flickr)
This was a time before there was bourbon as we know it, the aged spirit stored in charred oak barrels. The first written record of bourbon in Kentucky was 1821. There was a period of about fifty years were Kentuckians were distilling spirits other than bourbon. To better understand the evolution of bourbon, these years have to be examined and understood.
The stills used were pot stills usually about 100 gallons in size. These stills had to be brought into the state, so they had to fit on a wagon or flatboat along with the other possessions of the settler family. Some stills were as small as 20 gallons and others as large as 200 gallons, but the average was about 100 gallons. They were usually made of copper, but once in Kentucky some settlers made parts from hollowed-out logs. In a pinch, a temporary still could be made completely out of such materials. Wood was the fuel used to heat the still, and spring water was used to cool the worm.
Mash tubs were usually about 50 gallons in size, a manageable size for one or two workers. They would cook and ferment in the same tub, using hot water to do the cooking as they added the grain. The yeast would be added after the cooking was done. The earliest distillers used the term “Distiller and Yeast Maker” to describe their profession, because to these people, making the yeast was at least as important as the distillation process.
Knowing a good yeast from a bad one was important to the final product, so the yeast maker would capture several yeast strains and let them mature enough so that he could smell the alcohol being produced, and then pick the strain to be propagated. Some distillers used a sour mash process, using spent mash from the previous run to “sour” their next batch. Some would actually use this hot slop as well as boiling water in the cooking process of the grains.
The mash would be made from the grains at hand, and in Kentucky, that meant corn, the most plentiful grain available. Rye, wheat, and barley malt were also used to flavor the corn, creating the mash bill. Fruits were also fermented for brandy production. Fruit brandies such as apple, peach, and pear were very popular in Kentucky, and many distillers made both brandy and whiskey. Brandy has to be made when the fruit is ripe for making wine, usually in late summer. Whiskey was made in the fall and winter, as grain can be held longer for making the beer for distillation. These wines and beers would be distilled, and the distillate would be stored in stoneware jugs.
Barrels are not a practical storage vessel for distilled spirits unless the distillery is making a large amount of spirits. The frontier distillers were using stills of only about 100 gallons, and a day’s work usually produced about 6-8 gallons of spirit. This amount was easier to store in jugs. Since the spirit was often used to barter for other goods, jugs were also more practical than 48 gallon barrels. A quart or half gallon jug could be traded for smaller purchases. Another disadvantage to a wooden barrel is that the wood soaks up about three gallons of spirit when it is filled. That is about a half day’s work for the distiller. Since the spirit was an unaged product, jugs were much more practical and economical.
Once the spirit was made, many things could happen to it before it was consumed. At the Filson Historical Society, there is a description in the Beall-Booth family papers of a charcoal mellowing vat used to take the rough edges off the new-make spirit. A 50 gallon barrel with a false bottom filled with holes would be filled with gravel and sugar maple charcoal. The spirt would then be run through this filter before being used to make other products.
Once it was filtered, there were recipes for making gin, blackberry cordial and cherry bounce. Gin was made by adding essential oils such as juniper and clove to the spirit. Blackberry cordial was made by adding fruit to the spirit and letting it steep for a while. The fruit was then removed, and the spirit was supplemented with oil of clove before being consumed. Cherry bounce was made by taking the root of a wild cherry tree and boiling it into a strong tea. Sugar was added to the tea, and then it was used to flavor the spirit. Fruit brandy was considered drinkable right off the still and drunk as an unaged spirit, but was also used to flavor unaged whiskey.
Frontier Kentucky had many distilleries making distilled spirits for personal consumption and trade. These earliest products were not aged in charred oak, and were often flavored before consumption. Once bourbon became the popular drink, many distillers started to age their whiskey and brandy. The term “apple jack” comes from the fact that western distillers were aging their apple brandy in barrels made for whiskey rather than the larger, traditional barrels used for fruit brandies in Europe.
Even so, many of the unaged products survived throughout the first half of the 19th century with the smaller farmer distilleries. It would take the Civil War and the return of the whiskey excise tax to force these small distilleries out of business and relegate the unaged products, such as cherry bounce, to the home distiller making products for self consumption.
Fun, My pleasure.
How can you say that, lol. We've surged a whole $.0002 this morning.
Understand your caution, but I'd rather Lampden buy shares in the open market than have him NOT buy.
Lampden purchased 10k more shares on the open market.
Uh huh. Right.
And here is the further information, tho it was not a bio stock:
http://seekingalpha.com/article/3975232-insider-weekends-may-13-2016?ifp=1&app=1
"Notable Insider Buys:
1. IDI, Inc. (NYSEMKT:IDI): $5.35
Shares of this data and analytical solutions provider were acquired by 2 insiders:
Director Phillip Frost M.D. acquired 2,190,000 shares, paying $4.80 per share for a total amount of $10.51 million. These shares were purchased indirectly by Frost Gamma Investments Trust.
President James Patrick Reilly acquired 900 shares, paying $4.79 per share for a total amount of $4,311. Mr. Reilly increased his stake by 2.87% to 32,238 shares with this purchase.
We were a little surprised to see this purchase by Dr. Frost as most of his large purchases in the past were related to the healthcare company Opko Health (NYSE:OPK) where he serves as the Chairman and CEO. This is his largest purchases in IDI since we started tracking insider transactions back in 2010 and leaves him with a 34% stake in the company following the purchase.
Dr. Frost began his career in 1972, when he bought Key Pharmaceuticals along with Michael Jaharis and turned the company around. He was Chairman of the Board of Directors of Key Pharmaceuticals until 1986 when it was acquired by Schering-Plough for $587 million. After the acquisition of Key Pharmaceuticals, Dr. Frost founded the IVAX Corporation in 1986 along with Dr. Jane H. Hsiao, the current CTO of Opko Health.
IVAX specialized in generic drugs and played a significant international role in Latin America, Central and Eastern Europe. IVAX was acquired by Teva Pharmaceuticals (NYSE:TEVA) in 2006. Dr. Frost became Vice Chairman of Teva after the acquisition of IVAX in 2006. In 2010, he was named Chairman of the Board of Teva and was reelected to the position in May 2012."
Interesting fail for both the Yahoo Finance chart and the IHub chart, which I assume are derived from the same data source.
Both show CDXC prices at an unparalleled soaring height vs past history. Neither apparently adjusted prices for the recent reverse split.
Fidelity shows it properly, with present prices approaching the levels of a couple years ago and still waaaay lower than the $15 shown at maximum chart length.