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Took just 4.6M in bid whacks to make 17M in bids to drop to 4M. Bidders decided they didn't want to own it that bad and fled the scene.
He'd better work damn hard at it if he wants to get the additional $4M.
Tried to get the terms and conditions from the company on how they set up the financing for the ABBIE acq. Is it part of the $5M funding announced earlier, or is it separate? Got the runaround so I'm forced to assume it's separate and needing additional 3000B A/S shares to make it legal.
Checking SS structure regularly for changes is the wise thing to do until they come clean.
Per usual, they're leaving investors in the dark. $3M in restricted common stock means the PPS at the time the deal was signed? Or the PPS when the restrictions are lifted and the shares sold? The former means another 3B in A/S will be needed immediately for the deal to pass muster. The latter is anyone's guess.
Guess work is all SHMN has ever been about.
Okay. But they haven't announced any completion of projects in waiting of financing to provide the $3M in cash payment. And they sure aren't capable of meeting that payment obligation as things currently stand.
So far they've been all talk and no action.
But no ROI for years. And they spent the whole $5M financing on ABBIE and left nothing for projects that will provide immediate ROI.
What's next, more dilution? I'm afraid so.
Sounds like they're getting everything done that was previously awaiting financing. And that's a lot of things. Enough things to make them a successful biotech company.
I know that. But them retweeting it means they endorse it.
Which brings to mind, are they agreeing with the content or agreeing with the promo aspects of it?
Why commit to more management headcount if it serves no purpose other than giving the impression they've got legitimate reason for doing so? Do they? Because if they don't and there's no increase in revenues in the future, how are they going to pay these guys? Issue more shares?
Interesting they would RT this when they haven't announced the completion of anything they've said is in the pipeline. Why would they issue 25M shares and increase the A/S if they've got nothing to show for it except an increase in management headcount?🤔 What are these new hires doing, just sitting around bored, twiddling their thumbs and shooting the shit?
Leadership Changes At $SHMN to Strengthen Growth Strategies for Generic Drug Market and Gene Editing Platform Developmenthttps://t.co/pOz98lqp1y#cosmetic pic.twitter.com/PGlZTFhwNd
— InvestorWireNow (@InvestorWireNow) September 18, 2023
Good question. My guess is the deal is done or mostly done. Hard to say.
Biggest question is: Is the whole $5M in financing going to that acquisition with nothing to spare for the other projects in limbo due to money issues, or are the other projects on hold because it's unknown how much $ will be used for the acquisition.
I say, get all the other projects done and more revenue coming in first. Then if the remaining $ left isn't enough for the acquisition, so be it. It doesn't have any immediate value if it's still unproven, anyway.
Based on what?
Baron's ability to get things done on schedule? 🤣
Or for that matter, his inability to get anything done at all?😧
I think it's pretty impressive if they actually get it all done.
And I hope they do.
Did they forget about this? Is this what the $5M is for?
https://www.sohm.com/2022/07/27/sohm-inc-is-in-discussion-with-generic-pharmaceutical-company-for-the-majority-of-stock-acquisitions-as-vertical-integration/
Or is the $5M in funding to pay for all this?
Pieces of filling equipment in waiting! Trials and final testing.$SHMN pic.twitter.com/4yWr614ZAV
— SOHM, Inc. (@sohminc) May 22, 2023
Work in progress. Our priority is Topical Product manufacturing in the first phase. Updates follow.$SHMN pic.twitter.com/ZQcDXtX56W
— SOHM, Inc. (@sohminc) March 31, 2023
Based on some queries, we like to share the "work in progress" and "Manufacturing Facility Animated Layout" of the company at 2501 Commercial St., San Diego, CA 92113.
— SOHM, Inc. (@sohminc) March 24, 2023
This is again a work in progress, and, as shared, initially, we are installing Topical product manufacturing… pic.twitter.com/4bmvTWsTWc
SOHM Inc. Signs LOI to Acquire Stem Cell Disruptive Technology and Patents https://t.co/sUADzH8BWN $SHMN
— SOHM, Inc. (@sohminc) August 1, 2023
A far better idea is for SHMN to actually accomplish what they Tweet and PR. Action always speaks louder that words.
Empty promises has gotten them nowhere.
So I see. Thanks for bringing that to my attention. Makes me wonder why they put this crap out if there's nothing there to back it up. They're making fools of themselves and all their investors.
https://amazon.com/dp/B0CD8KV7WC?ref=myi_title_dp
Hard to know how ABBIE differs from all the other CRISPR gene editing technologies but from the looks of it there's a whole lot of patent research involved in determining whether or not there are enough differences to make it viable to seek a patent for it. I was blown away by the number of such patents already out there.
https://www.synbiobeta.com/read/who-owns-crispr-in-2021-its-even-more-complicated-than-you-think#:~:text=The%20biggest%20challenge%20for%20anyone,over%205%2C000%20general%20CRISPR%20patents.
The biggest challenge for anyone trying to sort out CRISPR patent rights is fully understanding just how many patents there are. A search in the USPTO revealed 262 patents or patent applications listing CRISPR-Cas9 and over 5,000 general CRISPR patents. Apr 27, 2021
Every biotech and it's dog seems to own one.
That was 2 yrs ago so there could be a few hundred more by now.
Do me a favor. Run down thru all the PRs they've released over the years with grand expectations of what the future held and tell me if any of them were actually seen to fruition. https://www.otcmarkets.com/stock/SHMN/news
I read that as now he gets paid for what he was doing for free before.
That's my problem with these guys, over promising and under/never delivering. The only difference this time is Aguilar keeps dropping tweets about ABBIE and dangling the carrot to keep the hangers on hanging on.
Maybe this time it will be more than just a carrot but so far it doesn't look like it.
The fact is, they could create another class of preferred and make them convertible at whatever ratio they want. And if that doesn't suit their fancy, they could simply increase the A/S to accommodate whatever else they have in mind.
Have you forgotten SHMN is still a pink sheet stock? Their main source of investable capital is stock. Sometimes that's a good thing. But very rarely.
There's no reason they couldn't increase the number of preferred shares in they need to. They could also create another class of preferred if needed.
Still nothing specific on how much of the 5M is thru simple renewable notes and how much is thru convertible preferred shares. Needing almost 1.5B more shares says most of it dilutive in 27 months. Also still in the dark about conversion prices, whether set at the PPS at the time of the funding or discounted market price at the time of conversion.
As always zero specificity seems to be their preferred way of doing business.
Acquisitions require attorneys and other services and they aren't cheap. SHMN only has $37K cash on the books so providers of those services will receive shares for providing them since SHMN can't afford to pay them in cash. Those providers will sell immediately to beat each other to the sell button and get the best price possible. That's when the bid whacking starts.
Hard to say how many shares will be issued to pay for services, but it's usually an exorbitant amount.
Until now. A 1B A/S increase means there will be more dilution. Maybe even the unrelenting bib whacking kind. Either way, I trimmed down to my original bag with a little profit. I'm slowly lowering my cost so I can sleep well at night.
Hmmm, I guess the $5M financing is dilutive.
Lied to again.
No, Aguilar only owns part of ABBIE. The rest is owned by his partners in CGA Intellectual Holdings, of which he is one. How many partners is still unknown. As it is, those partners could find a better offer elsewhere for ABBIE and leave SHMN and shareholders holding the bag.
Don't get me wrong. I, as much as you, want to see the LOI lead to the acquisition of CGA. But realistically its a long way from being a done deal.
They're getting the word out on ABBIE's potential. To bad they don't own it yet. Making it look like they do could get them in hot water if the deal never closes.
Close the deal and then pump it.
Baht being a shareholder leaves me thinking he got the 25M newly issued shares as a bonus to come on board. Baron says enough to keep the hopeful hanging on but leaves enough unsaid to protect himself.
He's not big on transparency. It's all just speculation.
Another advisor that happens to be a shareholder won't amount to much if they don't close the CGA 369 Intellectual Holdings acquisition. If they don't, trip 6 will be revisited.
Now they to fix this plucked from their company profile BUSINESS DESCRIPTION:
Generic pharmaceuticals were exported globally with a focus on distribution in emerging markets in Africa, Latin America, and Southeast Asia.
Makes it sound like they're no long in business. Maybe they aren't. Don't know. As vague as they are they've got a lot of muddy water they need to clear up.
Yeah, that makes more sense. If he accepted shares for salary it might be a reflection of his confidence in the deal going thru, and it doing well. How well remains to be seen and depends on how unique it is.
OS by same amount. Guessing Aguilar and company got the 25M and the patent acquisition deal has closed.
No clue why they are now pink limited, they've always been vague about reporting so why the changed now? Maybe failure to follow up on PRs and tweets with an actual notation of reported events in Q2 report?
SMH...Like I said, show me just one penny stock NOT SEC REGISTERED and filing fins ONLY on OTC Markets website that has filed just one SEC form related to share ownership by insiders or company officials. Do that and you won't hear another peep from me about the subject.
Or you can read all about it on FINRA's or OTC Markets websites and learn all about it yourself. I've been trading this crap for over 20 years and I've spent many many hours studying just that.
Let me know when you see a form 144 filed by an SEC non registered OTCM reporting company.
FINRA regulates OTCM (a private company that collects fees from SEC unregistered public companies that want to report fins) and OTCM reporting companies. The SEC regulates FINRA. FINRA is an SRO private company that collects fees from all publicly traded companies.
SHMN is not SEC registered so the SEC doesn't know they exist and couldn't care less what they do.
SHMN has 1.271 billion unrestricted shares. Just like you, the insiders of an OTCM reporting company can buy and sell some of those shares to their hearts content and not have to report it. But unlike you and me, they can give themselves the best opportunity to do so.
If they are pouring all their earnings back into the company, how else do you think they pay themselves.
Don't get me wrong. I'm not condemning them for doing so. It puts them on the same level as the rest of us. They're trying to buy at the lowest price and sell at the best. It's far better than how most pink insiders pay themselves, with dilution then dumped whenever and at the most inopportune times. I just think everyone should be aware of what's really going on.
Can you prove that? They're not required to file with the SEC so you can't. No one can. OTCM filing companies can swing trade all they want and not have to report it and no ones the wiser.