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Chilliguy, you are a god. The truth is, I didn't think anyone would be able to fulfill my request so I wasn't worried about ever answering any of the questions!
All I can say is, IMHO, I think the stocks will go way higher than just about anyone who posts here. I base that solely on other bio medical companies who are trading in the $40 plus range after FDA approval. Again, that is only my opinion.
I also think the trading volume will be close to what it was back in December (?) when it went over 17 million shares traded in 1 day. Again, IMHO.
You tell me the words to "Louie Louie" and I'll answer your questions.
The $.025 PPM money was raised in several stages from late July 09 through early September 09. The PPS at that time was averaging $.03 to $.05 until about the second week of September when it started to rise. The company had to offer these shares at a price lower than the market price in order to attract investor's. The money was raised to pay for two computer guru's and a new system platform that could generate the higher resolution images that Imaging 3 needed in order to complete their re-submission to the FDA at that time. The "loan" is a completely separate issue (call the company for more info).
In regards to the dilution issue, all of the PPM shares (approx 107 mil) have already been added into the total outstanding shares shown which is approximately 376 mil. There are no more shares to be added to that number unless another PPM is offered, which is doubtful.
Some of those PPM investors are starting to sell off their shares but it's not that simple. The initial restrictions for the 107 mil PPM shares has been lifted, but the process to clear them for trading is still somewhat extensive. You must pay an attorney (approx $250 to $400) to issue a letter that allows you to begin trading them through a stockbroker. This is only good for 90 days and must be repeated if you do not sell your shares within that time. The whole process can take several weeks. The stocks will be fully unrestricted this July through September.
Yes, that has something to do with it. I also think that everyone is being more cautious than the last re-submittal due to the fact that approval seemed imminent at that time and it didn't happen. Plus, everyone appears to be hording their shares in hopes that this will be the moment we have all been waiting for.
I am unaware of any innovative medical device company, post FDA approval, that is trading below $40 a share.
I believe Dean has 72 hours to put out a press release once he gets approval. However, I don't believe he will sit on that information because, if word leaks out, the SEC may construe that as trying to manipulate his own stock price.
Dean will make the announcement via a press release. The shareholders will also receive a mass e-mail stating as such. I believe that once the announcement is made the stocks will soar to $5 per share within a week or two and continue to climb after that. Please keep in mind, that is my opinion alone.
One of Imaging 3's earlier submissions had mammography in their literature and they took it out and said they would re-submit for it later. The old reviewer dragged it out for four additional months with questions even after they told her they deleted it from their request. If they asked for additional approvals now, it could drag on indefinitely.
Mugs
You are the only poster I have read that truly understands the potential of this stock. Once the PPS gets to around $5 a share, the institutional money will flow and take us skyward! I think, perhaps, the PPS may go beyond $25. IMO.
At that time, the FDA had asked for additional images so the PPM shares were sold off in order for them to raise enough money to hire two computer geeks and upgrade to a better computer platform that had enough memory to generate higher quality images. Back then, the stocks were hovering in the $.03 to $.04 range so they needed to make the offering low enough to attract investors.
Mike Nessen sent me an e-mail and said Dean recorded the current Money TV interview this morning (4/1/10).
I agree Shak. I'm not sure that everyone realizes the potential of this technology. Intuitive (robotic surgery), at one point, was at $.05 a share and now it's trading in the $340.00 range.
Thanks jrg!
Please ask Dean if he has had his conference call with the new reviewer and branch mgr at the FDA. I understand he was going to try and answer most, if not all, of their questions over the phone. It would be helpful to know the outcome of that conversation.
Those restricted shares are primarily held by the longs who understand the true potential of this stock and I don't think you will see as many shares sold off as you would like to believe.
I forget the exact number, but I believe it's around 125 million shares. Anyone out there have a more accurate count?
You might waant to take a look at Bio Med Reports (www.biomedreports.com).
We are way beyond all technical qualifications. FDA approval is the only logical conclusion at this point.
According to some, the "quickness" of the buyout may be 30 to 60 days. Vermillion reached their peak in about 30 days.
Yes, but they also don't have the leading-edge technology or potential markets that IMGG does. With people like GE, Toshiba, Phillips, Siemens, Stryker, Medtronics, etc, etc, showing extreme interest, I believe this will become a bidding war.
I think that everyone is trying to be very conservative in their estimates of how high this stock will go. Keep in mind that Vermillion (VRMLQ), who had a very similar stock growth pattern to IMGG, went to almost $24 a share after FDA approval before settling down in the $19-$20 range. I think the potential for this stock to match, or better, Vermillion's run rate is more than excellent.
The intended use is determined by the applicant, not by subsequent third party use. If FDA believes that a device that is the subject of a 510(k) premarket notification is likely to be used off-label and that a particular use may present health risks, FDA can mandate a warning against that use. FDA cannot, however, reject a 510(k) because of anticipated off-label use.
This was posted by Chemic76Spirit (Message # 7733). There is no further complex technological validation to be performed by the FDA. Clarification of the "intended use statement" is the last piece of the puzzle and the fact that there has been no word from the FDA means that they have already decided to approve the device. Jan 12th is the approximate 60 day deadline, but don't be surprised to see it come sooner.
If anyone doubts this then please, sell your shares now and move on. For those of us who understand the incredible impact this device will have on the medical industry (not to mention transportation, manufacturing, etc.), we will stay to reap the rewards.
Here is a link that Mike Nessen sent me. A great article from Stocks Haven:
http://www.stockshaven.com/fda-play-revolutionary-medical-device-otcimgg/
It could possibly be that they wouldn't accept your certificates because they are still considered a penny stock. I tried to transfer some of my certificates into a Schwab account and was told they wouldn't accept them until they hit the $5.00 mark.
We all need to keep in mind that the FDA sends their response by Bulk mail. Considering the storms back east and the holiday mail traffic, it is possible that the approval has already been sent, but may take a while to get here.
How high will the price go after FDA approval? Next to when will the FDA approve the Dominion (I also believe that their approval letter is caught up in the Holiday mail), that is the question of the year! If you look at Vermillion (VRMLQ), who had a similar growth pattern to IMGG, their stock soared to almost $24 a share before settling down in the $19 to $20 range. Because this is new technology, it is very hard to say how high it could go.
You think they found out that Dean is a Republican?
It is my understanding that the FDA received the information on 10/11. However, that may have been a FED-X confirmation. Because the FDA is a bureaucratic agency and they have their own internal mail service, it probably didn't end up on the appropriate individual's desk until 10/17 which is when the FDA "offficially" confirmed receiving it. The only thing that none of us knows is what day the FDA uses as their beginning 30 day countdown day. That, I believe, is where the confusion has arisen.
Please understand that the proposal is to "authorize" shares, not to "issue" them for sale. There is a big difference. As stated before, this allows Imaging 3 to maintain a major shareholder position in the company should someone (i.e. GE)attempt a hostile takeover.