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the anti-sickleing compound. a 1500 dollar purchase = 1500000 shares. What differance does it make if XI becomes the vechicle for the production of the compound. The real differance, is in the XN case, the profit is limited to product sold, in the XI case profit is multiplied by the share appreication, when you can have both, why settle for one. If you have any influeance with anybody, I would point this out.
XN is not a public company, no possibilty of share appreciation, XI is a shell, with a lot of shares outstanding. Easy of bring drug via XI, makes most sense. Where the largest profit motive is, thats' usually where the money goes.
Consider, is it a coincidense that the govermental announcement Re: XI comes just after the chapter 11 moved to a 7, most likely the court wanted to remove XI from calender, creditor's wanted an 11, bank wanted a 7, court moved to 7. Bank now has XI, by virtue of being the largest secured creditior. Now bank moves to renew XI, not only to capture the outstanding loans, but also on an indiviual basis, to purchased stock at 0.0001 and sell when porduction starts, at a signifcantly higher price. This is really inside info. I may be wrong, but there is a chance to make real money here. Bank has forced the outcome to 7 and will drive stock up, a quick way for loan repayment and personnl gain. Only my opionion.
A few weeks back, i posted that the only way for the banks to recover their funds wss to renew XI, while I don't think that it is a sure thing that it will occur, the groudwork seems to set. The bankruptcy allows no debt and just a shell, it makes sense that the bank take the shell, renew it and pay itself back. Any new entity would not be obligated to repay debt, but XI controlled by the banks, would. Who knows, maybe there is hope.
Seems banks cotrol XI, only way for the banks to recapture the outstanding balances on loans is for XI to become viable, royalties on liscense is a very long term and iffy proposition. A likely senerio, Banks reform XI under new management, and start producing and selling, best way for banks to get loans paid off which is their primarily goal. Makes the most business sense.
Anyone notice that ask on
Ameritrade is 0.00002. It's been 0.00001 for a long time, not big dollar volume but ok share volume, maybe accumulating?
No bid, always 0.0001, not good.
what makes you think it was a purchase. The quote was 0.00001, opened at 0.00002. Market maker most likely pickup up shares.
The privately held company, Maybe Swift's company. Both buyer and Swift company California based.
Industry / Nigeria
Production Of Nicosan To Restart, Competition Of SCD Drugs Increasing
January 2011 | Industry Trend Analysis
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BMI View: Specific health needs in emerging markets, which had previously been neglected because of the need to maintain shareholder value, may become commercially viable as average pharmaceutical expenditure increases. Competition for sickle cell disease (SCD) drugs is beginning to intensify as production of Nicosan (ethanol/water extract of Piper guineense seeds, Pterocarpus osum stem, Eugenia caryophyllus fruit and Sorghum bicolor leaves) resumes in Nigeria, and other drugs enter clinical trials.
Karniyus Gamaniel, Director of the Nigerian Institute of Pharmaceutical Research and Development (NIPRD), announced in December 2010 that production of the phytogenic (plant-derived) SCD drug Nicosan is to resume. The production and phase III trials of the drug were stopped when the government withdrew Xechem Pharmaceuticals Nigeria 's production licence in 2009, following accusations of misuse of funds.
Nigeria's Economic and Financial Crime Commission alleged that a US$3.5mn investment from the Nigerian government, which was to be spent on drug manufacture, had been misused. Xechem had also borrowed nearly US$4mn from a Nigerian bank and US$4mn from a US financial institution, as well as taking investment from private shareholders, who were all defrauded by the company's subsequent collapse.
In November 2010, the NIPRD announced that it was temporarily ceasing research because of a lack of available funds. It blamed this shortfall on legal costs associated with Xechem filing a US$25mn lawsuit against the Nigerian government for withdrawing its licence, which a US court later dismissed.
The closure of the company and its production facilities has left many Nigerians without an affordable treatment for the recessive genetic disease, which BMI first reported on in March 2009. [1]
Gamaniel has said that production of Nicosan is resuming ...
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Any ideas why the ask is 0.01 and the bid is 0.0001, mistake? Larger volume today. Maybe the ask is real and we are on our way.
The basu agreement re: funding required renewal of liscense as a condition of funding. In light of your post, it does not appear that that is possible. If this is true then the only viable POR is the stockholder option. Is there a communication from either the Nigerian banks or govt. to the judge relating this fact. Critical to the sucess of stockholder POR
I realize XI is a worhless shell, with hugh debt, I take your comment to mean that the Nigerian govt. will only renew the liscense to XI, in the event that the stockholder POR is accepted, if not then liscense will not be renewed, and this ccommittment is what your are striving to obtain. Is the delay due to the fact that the Nigerians have not made that committment?
What is the connection between bankruptcy in the U.S. and Nigeria, and the decisons they make re: XN? Are you saying that the holdup in acceptance of the POR is the result of delays in Nigeria?
Why ask 0.0005?, 5mm buy, Something up?, when is court hearing re: POR
Ithought that the unsecured creditors have a POR filed. That is an american originated POR, not out of Nigeria. Is this correct, additionally what is the 3rd. POR, not aware of a 3rd. POR.
Swift appointed by Basu, hope this info is given to the Nigerian authorities, if they grant the relicence to XI allowing Basu to to obtain new funding and he will then appoint another Swift, the people waiting for the drug, will never get it.
LMF1264, The basu funding plan depends upon the Nigerian govt. reissuing the liscense to XI, in your opinion, is it possible, in light of all the has happened, basu placement of crooks in management, the suit against Nigeria regarding liscense,etc.. that a reissue to a Basu controlled NI of the liscense. Thanks
Former Idera Pharma CEO at Helm of AesRx, New Startup With Sickle Cell Drug
The compound was also studied extensively by researchers at Virginia Commonwealth University who first discovered its potential to treat sickle cell disease. (Seiler purchased the experimental drug after its former owner, New Jersey-based Xechem International, filed for Chapter 11 bankruptcy protection in fall 2008, he said.)
Reading the court approved agreement between Basu and the creditors committee, the second paragraph re: conditons prior to release of any funds Basu generates, There is a provision that a settlement of disputes between Nigeria and and debtor be secured additionally, worldwide mrketing and distribution rights must be granted to debter. Question for Monty, is it possible that the nigerian government would grant the rights to Nicosen to the debtors committee, if not granted then the whole Basu deal falls through. I know you are in quite period, however this requirement of worldwide rights being restored will be the determining factor as to the success of either plan.
RE: the latest docket, basu released his claim and was authorized to act as a finder of funds. Not sure, but this does not sound good, Basu would only release claim if sure he could get funding. Does this mean Pandey's objection of Basu has been deemed moot. Interested in comments, not sure as to effect.
Just back, reading both proposals, did Monty's proposal include any indication wheter the liscense would be renewed if plan accepted? The promised funding with no additonal fee structure or share dilution is very important.
I have a meeting at this moment, leverage is the name of the game, with Monty and his connections, the shareholders have leverage. Won't post anymore, busy till 6:30/7:00
Remember XI is just a shell without relicense, it's possible Monty might have a say in that, is'nt that what we have been looking for and the creditors need for repayment of debt.
Sorry, Xickle is right, it was a while back. Thanks for the correction.
Basu putting more funding into XI, trying to salvage his initial investment. If more funding is found and the creditors accept a plan of reorg. based on new money, I believe an opening exists for XI to be viable. Easier to recover XI/XN with funding. Also more likely the Nigerian Govt. will relicense when they see a funding committment.
At a conferance, during a presentation by XI, I believe a researcher of asian decent, stated that they were working on a Nicosen derivitive that can be sold over the counter, the trade name was Tickle, I believe that they copywrited the name. It is back in the prior posts along with the researcher name. Not sure where the copywrite was indicated, but it's there.
Your opinion is important,I think this is positive, What is your take.
It is not important, If you need proof refer to my past posts, about 6 months ago, as soon as the Tickle error was made.
One other thought, I won't be surprised if it turns out that the funding is already in place.
Long ago I posted what I have restated today, It does'nt matter, I am not looking for brownie points. When the Tickle error was made at a conferance, it just substaniated what I thought. The fact that the Creditors Committee has asked Basu for funding sources is important, remember Basu put 7mm of investors money into XI, be sure he wants to recoup. The simple fact that the creitors and Basu are talking in important. I posted prior re: P/S and volume, first thing at opening large block was purchased, it was done on prior knowledge.
Understand, I know RS from the very beginning had a plan to eliminate XI, with all the debt and outstanding shareholders. His plan always was to develope an OTC medication called
Tickel, The problem is that only a small group of people know this and proving it is impossible. He can and will claim that Monty and Pandey distroyed NI, and he only tried to salvage it. Remember no proof is needed, he only has to convience the Creditors Committee.
He does'nt have to prove anything, he just has to make claims to convience the creitors committee. You can be sure that he will make himself innocent and Monty and associates guilty.
Swift could link the two companies, and formulate a repayment plan based on combined earnings. He could claim that he was hindered at every turn by Monty and the lies he spread, which caused the Nigerian Govt to pull the liscence, He could claim thet Monty caused the Govt to pull liscense to it would be given to him. Their are a great many things he could claim and do, no one is there to challenge.
More than the last signature is happening this week, the restructuring plans are being submitted. The XN aspect is important, but as of now it has nothing to do with XI. The reorganization plans are what is current re: XI.The latest is that the creditors committee, as per monty, is still in Swifts corner. In the event that they accept the Swift plan, all is lost. Advance knowledge of the decision is likely. That is why action re: p/s and volume is worth monitoring.
I do have faith, have been holding as long as you maybe longer. My point is when good news is near stocks run up prior to release, that's just the way it is. Looking for the run-up, don't believe in quiet before storm, not in the Penny's.
Not a good sign when 5 million sold, various people have knowledge prior to the public, if this was a 5 million buy it would be ok, but a sell? Not large in the scheme of things, but if good news around corner, then we should see large volume on the up side.
No revenue for XI, XI has no interest in XN, Need to tie XI and XN together again. Supposed to find out if XN rights given to XI interested party, it was posted that the decision was to be made within 1/2 weeks, that was 3 weeks ago. No updates on either decision re: XN or current status of XI.
Be careful, there hints in your messages re: NI and it going your way. This drove the trading today. Lets hope it's not hype but real.
325,000 shares traded, that's about $18.00, the cost of the trade to buy and sell is about that. Volume is deceiving when shares are 0.0006 each.