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These guys have zero sense for business. They said the same crap last year and dropped the ball for 12-18 mos. They obviously do not give a crap about the shareholder. Hey Varney, is the company still making your mortgage payment? What a joke! Hey Roger, what are you still doing on the payroll? Bumbling idiots. What does MV think that he gains from debt? A couple of months of hide the cheese? As if his potential partner is unaware of the situation. The fact that he is considering it proves that he is an incompetent idiot! So much for the "multiple insterested parties" you F'n liar!
If they had anything that was promising, something would have been done. Varney has really proven what he is made of- BS and lies.
It is over. Varney would have put something together if he could. He was not a leader. He was a liar!
Iggs
Wow - Neuro, thanks for coming clean. That is a far cry from $12.00. What were the last several months of defending management about?
funny! If they had $42k, they would probably send it to the bandits over at R&R as a holiday gift. We are done. Neuro, any last thoughts as Cortex lets out a death rattle in the corner of the room? Do you want to say anything to defend the management! My thought is that you will not have the ability to do so in a month or two.
Iggs
I would guess that the "Story" will be over by the end of the first quarter.
Iggs
heard the same thing about the holiday last year. If they try to get a pipe together for a couple of months of life, they might as well hand the keys over to a more competent team and walk away.
Iggs
David:
I am still holding shares. I have what was a small fortune of COR stock. I did not sell my remaining position because I do not need the tax loss. I consider my position a very very expensive option on the IP in case the impossible happens. I regret that I did not sell it prior to the delisting. What has transpired with this company is a shame.
Iggs
My name isn't Crease and the "negative probability" (tongue in cheek) comment was to point out that management attempts to execute, always fails, and subsequently ends up in a much worse position than they were in prior to the failed attempt.
A better way to say it would be : The internal rate of return (prob weighted)of a course of action is assumed positive by our B string management team, but at the end of the day it is a "negative" IRR, resulting in a huge cash drain and lost ground.
If I am wrong, why don't you step up and buy some CORX while your broker will still let you? What is stopping you? If I am so "uneducated" hop down to your local bank and take out a loan because this thing is so mispriced!
I really do miss Roger's multiple "shots on goal" and "irons in the fire" comments. They kept most on this board drunk with greed. Very sad.
Iggs
Come on Neuro, really? The chance of something like this happening for COR is in my opinion ZERO. Might I be so bold as to say less than zero. The comparison of these entities (situations) is beyond funny. A new low, even for you good DR. Why don't you buy some COR on this "INTERESTING" news?
Iggs
Neuro-
One mishap- understandable.
Two mishaps- unfortunate.
Three mishaps- probably indicates that our management team needs to pay closer attention.
Countless mishaps- bumbling management team.
MV was trying to get a deal done for at least the last 18 mos. In your so called expert experience, do you think that a decent management team could have pulled something off?
Give me a break! This team has changed strategy and direction more times than Messinger changed lipstick shades. (BTW: love the new winter shade)
It is, however, another good example of how management communicates one thing and does another? OK, more like- communicates one thing and does nothing!
How about this as a theory....
Here is how the conversation between R&R and the Co. could have gone down: "Hey, you guys can't come back to the PIPE well again. Even we are having a tough time getting this story sold. It is in your best interest to plunge your head under water and take a deep breath. (maybe present a false 30-45 deadline and not deliver- delisting to the pinkies with us as the market maker helps all of us) When you are on the pink sheets we can work a sale to one of our other fine companies on the cheap. (maybe help you guys figure out a way to exist until we sell the co. You do like getting paid, don't you?) You guys keep your jobs (and your pay checks) over the short term. The IP ends up in better hands. Shareholders can't bring a legal action because, 'after all' your company is on the pink sheets without cash and a .07 sale is the only alternative that you had. Don't worry- we will give your team additional free stock and warrants to make the whole thing attractive to you. What is the alternative for them (the shareholders) to vote "no" to a sale on the cheap and go out of business?? Don't forget, based on our good advice you guys worked out a salary adjustment when ownership changes. Roger, you are at the doorstep of retirement and Mark, come on, you knew what you were getting into why not get a pay day after all of your work"
"My view of people in general, and my assessment of Cortex management in specific, is informed by a certain degree of skepticism/cynicism learned the hard way."
Are you saying that your view of Cor management is slanted toward skepticism? If so, let me be the first to call BS on you once again!
Iggs
The fact that Neuro turns a blind eye to managements actions (past and present) forces me to think that his 12.00 target and subsequent opinions are all suspect. Defending this mess is idiotic unless there is another motive. It might simply be his ego. If that is the case it is even more of a shame.
Iggs
R&R will do whatever they can do to make a buck. They knew of this situation and will, accordingly, make a skim on as many trades as possible. It is like making soup from the bones of a decaying pigeon carcass.
Iggs
"Having an opinion, unsupported by any actual information that this occurred, and concluding that therefore it did, falls under the Colbert category of 'truthiness:' If you feel it in your gut, that's close enough. And putting it in all caps makes it even more convincing."
Did you feel that this stock was worth $12.00 in your gut? Curious..
Let me translate. I can not argue with what Iggs said becuase he is right so no response is best.
How can you debate a stock on the pink sheets with zero cash and a questionable management team? Pretty one-sided in my opinion! Is there a debate in there somewhere? I don't see it. It is done. The company mismanaged themeselves into nothingness. What is it going to take? Were there really irons? How many? Did Roger and MV really know what they were doing? Just look at the SP! It is all there! I understand that people are averse to pain but come on gents! Open your eyes!
iggs
"But it's hindsight that tells us that they would have been better off raising more money at the time--their motivation was to avoid dilution when they expected partnerships, and they did not provide themselves with 'insurance' when it was affordable. But if they had done so, and I'm not directing this to you, I can't remember what your stance was at the time, plenty of people would have been complaining."
The reason that we would have been complaining is that the company has never met a milestone! The money never went to value creation!
"The notion that the fact of their delisting says anything one way or the other about recent fiscal management is absurd."
You really should pick up a business book one of these days. This statement is ABSURD!
I bet that they (R&R) will also try to lead the co. to the slaughterhouse again via a huge pipe/ recap. It is like a drug dealer selling methadone to a junkie.
Why does management have to perform when they could just collect checks via a shell game financed with pipes?- all on the back of the shareholder!!
-Where are my June SA results? I mean September? I mean December?
-The company sure was excited about RD( even after the miserable trial). Where is my deal?
-Where is my letter from the FDA post CX717 rejection?
-Why is management always taking options?
-Why is the company always run to the edge of a cliff?
-What is the definition of "irons in the fire?"
-Why does management hide behind silence?
-What do these guys do all day? Sorry Messinger, What do these guys and ladies do all day?
-If there was no tox issue why did the FDA kill 717?
Hello, Stoll, Varney, can you hear me?
I am sure that these and many other questions can be answered by Neuro and the "six foot box." Stay tuned!
They had cash at one point but squandered it! That was the time to race to finalize things, not when they had 0 cash. "Race or rush" doesn't appear to be used much around COR. (Don't try to deflect the real issue. Maybe the GOP can hire you on as a spin doctor when NI goes bust. I assume that you must be on the verge? Are you?) If they were dealing with "multiple parties" party two, three, or four would have stepped up when party one fell away. Neuro, we are on the pink sheets! Give it up already. You were dead wrong, and yes, take a big gulp, I was right! The steve martin, man on the moon crap doesn't even deserve a response. Focus on the issues Mrs. Palin!
Why don't you respond to the request for a history of your/NI results as stock pickers? We are all waiting. We know we are a far cry from $12.00 on this one!
Iggs
You guys are not seeing the real issue. The issue isn't that a potential (real or imagined) partner provided a rough outline of 30-45 days to COR. The real issue is that our management team is so horrible that they did not protect themselves against a deal slipping. I assume that COR did not have anything in writing and bet the entire co. on a hope and good intentions. These guys are horrible! Hope you gents like the color pink! I am sure that we will be there until management decides to jettison the existing equity into nothingness. What a scam!
Question Neuro- At what price per share would you consider this to be an "implosion?" Obviously it must be less than .10? Is .08 an implosion? How about .05? .02?
Iggs
Neuro, they had YEARS to get something done?
0.1388 0.0162 (10.45%) doesn't look like a non-event! We will see pennies. These guys are just horrible.
There will be a sale of the Co. Management will do it via a PIPE and the new owners will be holding the new shares.
Iggs
Neuro- What is NI's updated target post delisting?
Iggs
I think that we are done. If the company manages to survive it will be with new equity players. We have danced the last dance. The value destruction sickens me..
Iggs
"The sooner the drugs are in the hands of someone other than Cortex, where we have an interest and economic gain attached the better I will feel."
Should I assume that you are ok with the current equity value going to zero in that process? How will you have an interest and economic gain attached ???
Iggs
Human nature fascinates me. Why is it that you guys will sell yourselves on some strange conspiracy to manipulate the price rather than open your eyes and see that we have been misled by management
I could tell you that regardless of what my opinion is or isn't, the market, with all of its information, is going to determine what this company is or isn't worth. The fact that you guys thought otherwise is exactly what made you guys hang in on this one so long.
I am in the same boat because I believed the same BS and expected more from management at times.
My new tick, enemem, is twitching every time that I hear the name of Mark Varney or Roger Stoll.
Iggs
Near term possibility? They have zero cash and currently have highly compensated individuals hanging around for a check. Haven't you seen this movie before? That is a little more than a "possibility." Doesn't take a PHD to figure it out. Didn't take a PHD to figure out that this wasn't a $12.00 stock! I guess that I am able to read. lol
Iggs
Not true, I posted and it was removed because I referred to your $12.00 price target. How much do you pay the I-Hub police these days? lol
Iggs
I see another monster PIPE and a Neuro target of $12.00...
lol
Iggs
Did I read that correctly? You are now hoping for a sale, when we are at .15? Haven't they had the past year (or two) to get something done? Now we should be "relieved" that they are doing a "small pipe" to get us to a sale or partnership. (Bill Murray in ground hog day comes to mind) Given your posts bolstering management (and the SP) over the past years, that is just pathetic.
Iggs
All:
I would just like to say that I have enjoyed reading most of your comments on this board over the years. I, however, can not participate in a board that edits a select few but allows certain others to post whatever they choose. I think that we all know who we are.....
Good luck to all longs. I am still holding more shares than most of you and intend to see this to the bitter end. (I sense it will not be much longer.)
I am assuming that certain others will continue to, for whatever reason, push their agenda. I caution you against this and can let the record speak for that.
I hope that we all live to see ampakines treating the diseases that so many of us think that they have the ability to impact.
BTW: I looked at the number of posts that I have had to this board and the number was in excess of 520!! Time best spent managing my portfolio.
Good luck!
Iggs
My point exactly. Your barbed response is as revealing as your publication. Keep up the good work!
Iggs
Neuro- Read this on your website -posted 7/08:
"In terms of its core business, which remains neuropsychiatric, Cortex also has made progress in broadening and deepening its pipeline. CX1739 is nearly ready for Phase I, with CX1942 (a CX1763 prodrug) going into full toxicology studies. CX1739 could be in Phase II for ADHD and Alzheimer's within nine months."
Hmmm....we are well beyond 9 mos.
Iggs
Somebody is out there selling today. I would guess that a delisting is the first event. A sub-par deal will be the second event and a painful dilution will be the third. Thank you MV for proving that you could care less about the shareholder.
Iggs