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I think it relates to the earlier S3 filing....
Not 100% sure but I believe it means they can proceed with the shelf offering. If true the recent news and ASM make sense and seems to follow the way Vuzix operates. Basically the way I see it the modus operendi is they try to generate excitement about forward looking (thus non-material) developments, and then sell shares to greedy investors who think they're getting in early....
The ASM to my tired old eyes was a real...well it was a certain type of show, but I won't say what kind of show as I'm not given to profanity. Spotty WiFi being blamed (like CES when Blade was intro'd), the CEO interruping the young guy doing the demo....then the guy from Plessy repeatedly asking: "Can you hear me"??? Total amateur hour imo.
The worst or best (depending on your perspective) was when the CFO tried to answer the question about when the company would be EDIDTA positive...talk about verbal gymnastics, maybe/possibly/could. I want to watch it again just for that part....but I don't think its available for re-veiewing anyhwere yet. If I'm in charge I would burn it and never let it see the light of day again.
That presentation was ugly...
Lots of exciting things shared, non-material forward looking stuff that should not be relied upon of course, but exciting nonetheless.
But what stuck out for me was the spotty WiFi connection, the ceo interrupting the young guy demoing the glasses over and over...the guy from plessy asking "can you hear me" over and over.
Even funnier to my ears was the stumbling answer given by the CFO when trying to explain when the company might be EBIDTA positive....Earnings before interest, tax, depreciation and amortization...I want to hear his answer again, I hope the webcast is available to watch again...although if I was the company I'd probably want it forgotten about.
I don't blame ya.....
I know you were in this before and rode it down and ended up losing money....so I'm sure it felt good to make a winning trade on this stock. I'm still holding based on my expectation that there could very well be something bullish announced tomorrow....but there is risk in that too of course.
You'll never go broke taking profits.
I think the trick here..........
You just need to figure out when the company is going to be raising money in my opinion....then simply ride what I consider to be price manipulation higher. I think this ride is still in the early stages, I'm expecting $5 by the end of the week.....maybe even $5 in time for the ASM on Thursday and then $6 or $7 by Friday.
I'm not going to be marrying this, but I'm enjoying our dating so far....she is definitely putting out
I went long just after the opening bell...
Not going to average up, might sell 1/2 if it spikes up ~$5 before Thursday's meeting though.
Congrats...
Nobody has ever gone broke from taking profits, lots bought ahead of the climb to $11+ in January 2018 and then rode it all the way down...with some averaging down over and over again.
I think its gonna run at least into Thursdays ASM...
New Seeking Alpha Blog Post...
After considering things over the weekend I started to hear Vuzix's engine starting to rattle and figured a run was coming....so I climbed on board.
https://seekingalpha.com/instablog/15663412-joe_retail/5313841-vuzix-putting-bull-horns-trade
The slide continues, but I don't sense capitulation yet.....
In my view capitulation is signified when volumes are much larger than just 400K or so....with Vuzix having around 27 million shares out I'd think if it tanked on volume of 3+ million, then I'd think that capitulation was taking place.
Bottom line here of course is cash in my opinion....of which Vuzix has precious little left, especially with Google jumping back in and snapping up a deal with a company like DHL.
$10 million left as of March 31st...burn rate up to that point around $2 million p/mth. If the cash burn has remained about constant in April and May then they'd be down to somewhere around just $6 million left now.
Not much in the way of detail is there...
Expects and significant....I seem to recall a similar PPS reaction to the Wounded Warrior news, which looks like it fizzled. I guess its wait and see again, but it might help pump the PPS a bit in the immediate term even if it ends up being another case of much ado about nothing.
New article up on Seeking Alpha...
https://seekingalpha.com/article/4266029-vuzix-update-future-problems
Well referenced with links to SEC filings.
Russell will be reconstituting in June...
Apparently ranking day was May 10th, when VUZI closed at $2.65 giving the company a Mcap of just over $70 million by my calcs. According to everything I have read inclusion or removal from the Russell 2000 is objectively based on market cap....and I just read an article indicating that the low end is expected to be about $148 million.
Nothing out on it yet though....I do wonder though, if Vuzix does get removed from the index, what impact that might have on Institutional Fund manager types who are said to often simply benchmark indexes like Russell's 1,000, 2,000 and 3,000.....I assume Vuzix will still make the cut for the 3000.
Looks like the pause that refreshes is coming to an end....
Time to take it to the next step on the ladder? I think 10 cents is not far off....then look out, imo this won't stay under the radar much longer, and then its off to the races I think.
If it happens a huge risk premium is mitigated....
I won't say its completely removed as peace deals can be tenuous at the best of times....but imo this is one the reasons KUB at under a dime is trading at such a discount.
RVX.TO down about 20% now since the news. Is it a buy?
Can it recover? I just did a SA Blog post on it:
https://seekingalpha.com/instablog/15663412-joe_retail/5305183-resverlogixs-market-cap-sheds-200-million-can-recover
New SA Blog post on the drop....
https://seekingalpha.com/instablog/15663412-joe_retail/5305183-resverlogixs-market-cap-sheds-200-million-can-recover
Whether it happens or not I don't care...
Its all about MCap for me, if my shares go to 20 cents or $2.00 after a 1:10 consolidation....no differnce. Cheers, all it needs is a talking head on something like BNN or another media type outlet and look out above imo.
What was the amount? $275K order?
Its not much for a company that reported losing more than $20 million in 2018....but I guess its better than nothing. It'd be nice if they could add a couple zeros before the decimal point though.
We're moving again....ask up to 7.5 cents
I'm on board with the thinking of 20+ cents....and thinking that a 1:10 reverse split would not be a bad idea....get the PPS up to $2 to $3 on 30 million shares out and maybe we could see the MCap here get up to $100+ million CAD.
Short update on Wednesday, my bad............
I forgot to take into account the Victoria Day holiday Monday....3 days after the 15th and last day of the month iiroc puts the numbers out....so we've got three days of trading before we know if this was a short attack, and then if it was how big....Thurs/Fri/Tues.
Almost 1.4 million trading, biggest day in the last five years. I don't doubt that some bailed out of fear, or to take profits...or a mix of both. Call it fear based selling, but I don't think it would have happened without a bear attack.....
Same thing happened last year, as mentioned in my SA blog post. In April 2018 after the drop from ~$1.80 CDN $1.30 or so for a loss of over 25%...
Those who bought the fear last year around $1.30 were up 300% by Sept....and more. If those type of gains get repeated in the weeks and months ahead it'll mean a PPS north of $10 CDN....I could handle that.
I need the short number though....
If we'd know the at market proposed offering was coming....
Oh well...I added 1.5 today, and will be looking to add again tomorrow....short #'s out Tuesday of next week, and by then I think it could be too late to back up the truck so to speak.
Cheers
RVX.TO Yep, its April 2018 all over again....
Last year in April when the announced a share offering the PPS dropped over 27%....from $1.80 to $1.30.....then it doubled by the end of June.
History repeating imo....time will tell. I think we're going to see short interest climb from the roughly 300K it was at up to April 30th to over 800K when the numbers get updated next week on Tuesday.
Last year RVX.TO showed up on the TSX Buy-In list because of delivery failures...naked short selling in other words, over 1 million shares that were not delivered to buyers. Bears were forced to buy in at above market prices and it started the PPS climbing, from $1.30 to up over $3 by July....
If BETonMACE hits on all three end points I'll be looking back and wishing I'd bought even more.....I added today and will be adding more tomorrow.
GL and God bless
New SA blog post on the "proposed" offering....
https://seekingalpha.com/instablog/15663412-joe_retail/5304341-resverlogix-announces-proposed-offering-units-will-history-repeat
Thanks for sharing that on $RVXCF....
They did the exact same thing last year in April and it led to a massive bear attack, short interest went from less than 200K to over 1.6 million. Then the withdrew the offering and the PPS started climbing like crazy.
I just wrote a blog post on it at SA:
https://seekingalpha.com/instablog/15663412-joe_retail/5304341-resverlogix-announces-proposed-offering-units-will-history-repeat
I don't like seeing them touting % increase....
1,723% sounds amazing, but revenue was only what....$1.5 million, and that's not much.
No kidding eh
I wonder if they gave her the glasses for free? If they did imo it was worth it for the (ahem) exposure she provides....people who'll never buy blades might buy the stock. Reminds me of when Warning Model Management did a huge pump and dump on news that Paris Hilton has signed a (sic) exclusive contract with them.
A biotech stock that nobody is talking about $RVXCF$
Its a Canadian biotech, not listed on a US exchange, hence the reason its OTC in the states. In Canada it trades on the big Toronto board under the symbol RVX.TO
The Market Cap is about $700 million USD, just under $1 billion Canadian. The trading is light, you won't find millions of shares trading each day...not even if you combine the US OTC trading with the Canadian TSX trading. Of late its been a couple hundred thousand shares total combining the two, sometimes less than that.
Despite the light volumes the stock has climbed this past year, from under $1 US to over $3...the 52 week high is actually over $4, but that was a couple days ago and it looks like it was the result of someone slamming the ask right at the opening bell. My expectation is it will get back over $4 and keep going....
Why???
Because their lead compound Apabetalone is wrapping up a phase 3 trial with top-line results expected sometime this summer. Apabetalone is an epigenetic drug....which means it operates above the genetic level. Basically it acts as almost a dimmer switch, to turn genes in a diseased state to a non-diseased state.
The trial is called BETonMACE and its been running since 2015....the goal of the trial is to try and prove that Apabetalone will have a positive impact on the time to the first occurrence of Major Adverse Cardiac Events, or MACE for short, in patients who have: Diabetes, Low HDL (good) cholestorol and a recent Adverse Cardiac Event...within the last 90 days before dosing.
The secondary end points centre around Kidney Disease and Cognition. There is evidence from earlier trials to suggest that Apabetalone improves kidney function in areas like eGFR as well on people suffering from cognitive impairment which can result from Alzheimer's and Vascular Dementia.
Its worth doing some research and DD on imo....I think a pre-results market cap of $2 billion is not out of the question....and if they hit on all 3 indications, MACE reduction in Diabetes patients as well as improving Kidney function and cognition....then I believe it will explode...Biogen's failed Alzheimer's drug Aducanumab had a pipeline value of $16 billion USD before it was halted for lack of efficacy.
Not risk free, nothing is of course....reply to this post with any questions and I will try to answer.
Here's a link to a Seeking Alpha blog post I put up....
https://seekingalpha.com/instablog/15663412-joe_retail/5302150-resverlogix-keeps-climbing-high-can-go
Obviously there's a HUGE value for an AD treatment....
That $16 billion hit the Mcap took here shows how much value the market places on even a potential treatment for Alzehimer's disease.
There's a Phase 3 trial going on by a Canadian Biotech that's very much below the radar, and cognition is one of the secondary endpoints that they're measuring on patients over 70 years of age, many of whom have MOCA scores below 25, indicative of cognitive impairment.
This is a SA blog post about them which mentions Biogen and failed AD drug Aducanumab.
https://seekingalpha.com/instablog/15663412-joe_retail/5302150-resverlogix-keeps-climbing-high-can-go
I wonder if anyone even looks at the Blades....
But thanks to her looks she gets lots of views....this one has over 8 million:
Meh.....could have played it better
It was low risk, if news had come out and it exploded higher....and I hadn't been able to buy them back, no biggie. But I should have been more patient, and I could have put a couple hundred bucks in my pocket....oh well. I figured it could get back to the $4.60 area, but then got cold feet a day too early....
We're climbing the stairs...3 or 4 steps higher, then one or two steps back. When the PPS climbs those 3 or 4 steps the volumes are higher than when the PPS takes one or two steps back....
I want to see days of 1+ million trading...100+K is only a big day because of all the long stretches when volumes are even more pathetic....I'm rambling.
New SA blog post on Resverlogix?
Is this it for now? Or can it go higher?
https://seekingalpha.com/instablog/15663412-joe_retail/5302150-resverlogix-keeps-climbing-high-can-go
SA blog post on Resverlogix:
https://seekingalpha.com/instablog/15663412-joe_retail/5302150-resverlogix-keeps-climbing-high-can-go
Resverlogix new 52 week highs again today....
RVX.TO in Canada, no US listing so OTC RVXCF, the F denoting foreign.
Keep thinking a period of consolidation is in the cards and it keeps going higher.
I'm falling in love with biotech plays.....
Have my eye around now for future prospects....years back I invested in Bellus Heath, but it was more of a trade....made some money there but nothing mind blowing, 25% or so if memory serves.
Reading about how diabetes is reaching epedemic levels years back I started looking for potential investments around that specific indication...my father suffered from diabetes...interstingly he also suffered from xyema/psoriasis and I just saw a post over on agora suggesting that Apabetalone might have application for that condition....
If it wasn't for losing my Dad too young, he was 75, I might never have searched out and found Resverlogix....kind of cosmic.
Chickened out and bought them back....
For today anyway I was a genuine day trader.....made enough to pay for a round of golf and a few beers.
I started buying in Jan 2014....
When it was in and around 75 cents CDN.....as other plays like Regal, Amica, Savaria, Lithium Americas, Nemaska, Hampton and a few others...as I took profits I kept adding here....and same when I bailed on losers like Sandridge and Glowpoint....My average is less than $2 CDN so I'm sitting pretty....haven't played it perfectly, but well enough that I'm sitting on huge paper profits right now....
And thinking about Biogen's Aducanumab and the ~$16 billion USD pipeline valuation it had before failing....I'm thinking that with success from BETonMACE in all the endpoints, that our Mcap could go higher than that....meaning even $5 would be a huge bargain.
What pushed me over.....
Someone on agora posted about the number of lots being offered at $5 CDN....and it occured to me that the prospect of a lot of sellers at $5 makes a lot of sense. A mutt retail player like me....I am never 100% sure when a big wall is genuine or a bluff, I think both happen. But $5 is a psycholically satisfying number....and I can envision some long term holders being up 100, 200...maybe even 400% and deciding to cash out at $5 if they can....
So I figured maybe it gets there, and then those I believe are accumulating....I figure maybe they fade it down, in hopes of getting more profit takers to let go of their shares, maybe have it knock up against that $5 level two or three times.
Lots of fun anyway, I'm glad I'm in this position...I would not want to be on the sidelines watching and trying to make an entry now....I probably would take RVX off watch if that were the case.
$5 CDN and then fade?
Couldn't resist trying it with a small number of shares....if it hits $5 or close and then gets faded I'm ready.....if it hits $5 and explodes through, oh well....I win either way.
Calling this a "little rally"
That's kind of like saying Tiger Woods' Masters win this year was nice little victory.
Resverlogix moving again today on low volume....
Last year around this time shares were trading in and around the $1.30 CND on the TSX. Phase 3 results due out soon....trial wrapping up last visits and proceeding to data base lock.
No US listing so like lots of foreign listed companies it trades with an F as the last symbol letter on the OTC, RVXCF. The OTC listing basically tracks with the TSX listing, but TSX volume is much higher.
LoL...it has been a while
I first established a position in early 2014.....yes, they've advanced Apabetalone, their lead and really only compound to Phase 3. Its an events based trial that has reached it's required 250 Events, with top-line results expected in about 2 months time....Late June or into July.
Its Epigenetics and they have the only Phase 3 compound in late stage development....they've disclosed having other compounds in their pipeline, but the compnay is pretty much broke. My best guess is they have about $7 million USD left in the bank....just enough to get them to Top-Line results....and then if the results are good, I expect they'll be doing a raise at that time, possibly in tandem with garnering a listing in the US.
Major owner at about 40% is Chinese Pharma Shenzhen Hepalink, reportedly the world's largest supplier of blood thinner Heparin Sodium.
Any questions fire away....but not too heavy duty on the science. I don't write peer reviewed articles for scientific journals :)