Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
It seems the VWAP went from 20 days down to 15, which really is meaningless.
The wording in the Amendment Schedule B makes no sense if T&T can convert at anytime. With the numbers of shares below to convert to, why would T&T wait at all especially to wait until 2020?
If the share price is .20 T&T can convert $862,500 into 4,312,500 shares
If the price is $1 T&T can convert $862,500 into 862,500 shares
and if the price is $2 T&T would convert $862,500 into 431,250 shares
Whether the stock is going up or down, why would T&T wait if they can convert at any time? That really doesn't make sense!
But I agree, it's confusing.
Since the T&T Convertible Debenture Amendment is in the Form 10, I'd like to know your thoughts. Am I reading it correct that T&T can not convert until the share price is over $1.
Here is why I'm thinking that, which I copied above the link.
The Holder and the Company realize that an orderly liquidation of the debenture will have a maximum beneficial effect on both parties.
SCHEDULE B
This schedule only effects the liquidation of the debt.
http://www.sec.gov/Archives/edgar/data/1091326/000101968714002510/vglife_ex10102.htm
SCHEDULE B
Release schedule base on stock price
Amount of convertible debt remaining under the
Agreement $ 862,500.00
Price per share is defined as 15 day weighted average at closing.
Mandatory quarterly conversion if price per share is $1.00 is $50,000.00 or greater as mutual agreed upon by the parties.
Mandatory quarterly conversion if price per share is $2.00 is $75,000.00 or greater as mutual agreed upon by the parties.
All other term as to price, definitions, terms and option stay the same. This schedule only effects the liquidation of the debt.
If the price is below a dollar then note is convertible 01/01/2020
I respect and agree with most of what you just posted, but to me Haig was like a deer in headlights. He froze and didn't know what to do. Now that Medbridge has taken over, they seem to be cleaning up the mess that was created to keep the company going and have made huge progress.
Also it seems your thoughts of universities might change. I've actually read that about 25% of drugs on the market came from university research. I'm not exactly sure of the percentage, but I believe it was in the mid-twenties.
The paragraph I paste below seems to speak Dr. Newell's name, doesn't it! Also time will tell and I know there are no guarantees.
http://en.wikipedia.org/wiki/Pharmaceutical_industry
Drug discovery is the process by which potential drugs are discovered or designed. In the past most drugs have been discovered either by isolating the active ingredient from traditional remedies or by serendipitous discovery. Modern biotechnology often focuses on understanding the metabolic pathways related to a disease state or pathogen, and manipulating these pathways using molecular biology or biochemistry. A great deal of early-stage drug discovery has traditionally been carried out by universities and research institutions.
Let me show you a little about Mr. Phelps. He obviously is not ashamed of being associated with VGLS. In the fourth quarter of 2013 he was awarded stock options in VGLS's Equity Incentive Plan. So it seems Mr. Phelps helped the company with monetizing their patents.
First link is about the book he wrote and think, this is the individual who's helping VGLS.
http://www.amazon.com/Burning-Ships-Transforming-Companys-Intellectual/dp/0470918217
Marshall Phelps's remarkable eyewitness story offers lessons for any executive struggling with today's innovation and intellectual property challenges. Burning the Ships offers Phelps's dramatic behind-the-scenes account of how he overcame internal resistance and got Microsoft to open up channels of collaboration with other firms.
•Witness the sometimes-nervous support Bill Gates and CEO Steve Ballmer gave to Phelps in turning their company around 180 degrees from market bully to collaborative industry partner
http://www.lawschool.cornell.edu/spotlight.cfm?pageid=151551
When Viral Genetics, Inc., constituted a new business advisory board in March, it asked Marshall C. Phelps, Jr. to be one of its founding members based on his estimable career as an intellectual-property attorney and strategist for Microsoft
Mr. Phelps, who has engaged private placement subscriptions with the company, found the prospect of a therapeutic breakthrough for HIV and AIDS a compelling argument.
It is from this perspective that he will advise Viral Genetics on the development of its thymus nuclear protein compound and the commercialization of its HIV/AIDS drug, VGV-1. "In my mind, there is no distinction to be made between the business and the legal aspects of intellectual property," Mr. Phelps explains.
We should know shortly if VGLS will turn into a swan, but since you're asking why certain individuals are still around. Well Haig is the founder, Arthur obviously is not needed and DMBM seems to be the individual that kept the company alive and still around. Am I happy the way things have been done, the answer is no, but if the company went bankrupt, all technology and patent rights would have went back to the universities.
So since VGLS is still around, let me ask you why these individuals are still involved.
First is Marshall Phelps Jr.
If you don't know who he is you should look him up. The man basically saved Microsoft and turned it into the company it is today. Mr. Phelps gave Viral $40,000 back in 2007, as shown below and is still helping today.
"On October 1, 2007, Viral Genetics sold to Richard T. Gerstner., a private accredited investor, 1,000,000 shares of common stock at $0.06 per share for cash totaling $60,000, and sold to Marshall C. Phelps, Jr., 666,667 shares of common stock at $0.06 per share for cash totaling $40,000 ."
Second would be Dr. Newell, who is holding a Satellite Meeting in November with Eric Wong from Harvard and Beth Israel Medical Center and other speakers, involving Glioblastoma Multiforme, down to the Neuro-Oncolgy Meeting in Florida.
Dr. Newell's connections are pretty impressive and the respect that she's earned to be able to put this Satellite Meeting together!
http://healthcare-professionals.sw.org/resources/docs/division-of-education/events/cell-death-and-differentiation-symposium/Cell-Death-2014.pdf
http://www.soc-neuro-onc.org/
So why are these two individuals still involved with VGLS?
It amazes me that you think a company with license deals with two well known Universities and are also listed as applicants on patents with both Universities as a--scam. The difference with you and I is, I think survival and you think--scam!!
As you see in this article VG's science is recognized with other well known companies. There are about 150 companies mentioned and about half are Pharmaceutical and Biotechnology Companies. So how did VG's science get recognized, unless it really has potential!
https://ca.finance.yahoo.com/news/synthetic-biology-global-markets-120000530.html
NEW YORK, July 7, 2014
Synthetic Biology : Global Markets
Synthetic biology is an emerging biotechnology discipline with a wide range of applications.
The global synthetic biology market reached nearly $2.1 billion in 2012 and $2.7 billion in 2013. This market is expected to grow to $11.8 billion in 2018 with a compound annual growth rate (CAGR) of 34.4% over the five-year period from 2013 to 2018.
We have compiled a study of existing and future synthetic biology products and technologies that will be commercially important in the main end–user segments of life
science research, pharmaceuticals, diagnostics, energy, chemicals, and agriculture.
MERCK & CO. 238
PFIZER 254
SANOFI AVENTIS 263
VG LIFE SCIENCES INC. 278
We shall see, but don't be surprised if I win this bet. We both know VG will need money. As shown in the Form 10, DMBM is almost paid off and may be by now. The last time money was received from DMBM was March 2013, as far as a Convertible Note, so I'm pretty sure borrowing from DMBM is over.
Now where will VG also look for money to fund the future. I think it will come from a partnership and from Big Pharma.
With licensing deals put together with milestone royalties, don't be surprised if it happens.
Notice the last paragraph I copy and paste. 10 million upfront for two pre-clinical programs.
http://www.manufacturingchemist.com/news/article_page/Drug_licensing_deals_in_2010/58641
Big pharma companies have been busy filling the yawning gaps in their product pipelines by licensing drugs developed by smaller biotechnology firms.
Licensing deals have become an important strategy for big pharma companies looking to fill their development pipelines, a strategy that also provides a lifeline to biotech companies as it gives them much-needed cash to keep their business alive. This is often structured as a technology access fee, providing cash up-front, followed by milestone payments to mark successes and royalties on sales if the product ultimately makes it onto the market.
Another important therapeutic area research-wise is respiratory disease. Here, Johnson & Johnson has licensed two advanced small molecule preclinical programmes in asthma and COPD from Sweden’s Orexo, plus another for an undisclosed indication. The initial deal is for three years and Orexo’s research will be funded to the tune of up to $21.5m, $10m of it upfront. It could ultimately be worth more than $550m plus royalties.
On the 20 cents you owe, double or nothing a partnership with Big Pharma happens by the end of the year!!
Here's why.. This is from Form 10, page 19
We have commenced discussions and may establish partnerships with pharmaceutical, biotechnology and other organizations that have the existing organization experience and resources to bring our initial, and potentially future, product candidates to market.
Also look at the talent that are helping VG in the link below. The five names below are all in there.
Jim MacDonald, PhD
Catherine Strader, PhD
Shelley Ching, PhD, DVM
John Stubbs, PhD
Russ Hensel, PhD
http://www.synergymedicines.com/our-team.html
There is a difference with putting things on the back burner for a while than what you stated "VGE play didn't work out before now"
Yes, VGE might be inactive but let me ask, why would a company waste their time and also spend money, even as little as $150, to keep the Trademark name going?
Since only 5 extensions are granted to keep a Trademark Name going and this is the fourth, we shall see what happens.
Notice the date --- January 30,2014
http://tsdr.uspto.gov/documentviewer?caseId=sn85211407&docId=ESU20140131150329#docIndex=2&page=1
Also check out the Lipidmax Trademark. There was activity in 2014 also!!
If you have looked at the new website and have seen the new additions to what they're working on, you'll see why I'm very optimistic about what's ahead for VGLS.
Also in the website it states... " As VG Life Sciences is a development stage company, its goal is to advance the treatment sufficiently in order to attract a larger pharmaceutical company for a partnership that will then carry the drug to market."
The first link is a presentation about Glioblastoma, which took place in Nov. 2013. Notice the names working with Dr. Newell and notice in the second link, money has been given to her lab that used to go directly to MD Anderson. Dr. Newell's work is getting noticed and if a partnership happens with Big Pharma, where will the stock price go?
https://soc-neuro-onc.conference-services.net/reports/template/onetextabstract.xml?xsl=template/onetextabstract.xsl&conferenceID=3676&abstractID=760854
Metabolic disruption as a mechanism to potentiate temozolomide therapy in glioblastoma multiforme
---------------------------------------------
http://www.brainpower5k.com/#!funding/c15y1
It is our pleasure to support the local efforts of area researchers, doctors in Central Texas. We are thrilled to be a major contributor to research at the Scott & White Healthcare Brain Tumor Center with Ekokobe Fonkem, DO; Eromata Ebwe, BS, DC and Aleksej Zuzek, PhD.
So with todays news, it seems the Form 10 will be filed, as was the plan.
As far as T&T, I need you to think about it. It pays off well for T&T if the conversion price is .367 and the share price increases well beyond that. They gain to make a lot more than the 862 grand they are still owed, but if they can convert at anytime with a 15 day conversion price as you think, why wait until 2020 to get the rest of the shares they are still owed. They would just slowly convert to get their 862 grand and not wait, so waiting until 2020 doesn't make sense.
Why would T&T agree to anything, I don't know, but with the year 2020 added in, they seem to think the company will be around for a while.
Okay, it seems one of us is mistaken. Am I reading it wrong, as far as the T&T agreement. To me it says, "at closing the price is the 15 day weighted average", which turned out to be .367
So there will only be 2.35 million shares that were set aside and not a floorless overhang, as you state.
This is from the Annual Report..... "Conversion price per shares shall be the 15 day weighted average at closing of $0.367"
Am I reading it wrong?
I've been looking thru some of your older posts and see things aren't as bad as you've stated. Here in late October you thought the price would head down to the lows....."Come November - look out below!"
Also what's your thoughts on the T&T deal that came out in the Annual Report....This is what you asked... "2. Obviously an important question is what's happening with the T&T settlement payments."
I think the deal is great for the company. They put aside 2.4 million shares for this and it's resolved.
Also, take a look at the new Website and you'll see why I've been very positive on the companies new treatments they're working on.
I'll show you some things once you respond to this.
Since you keep trying to bring down the integrity of VGLS since you stated Dutchess only works with scams, I'm just trying to show you, you could be wrong, and probably are. Here is another company that made an investment agreement with Dutchess and two years later was taken over by a 1.3 Billion Dollar market cap company. So please lets get rid of the word scam!!!!
If you look at the testimonials of Dutchess Capital, you'll see who probably introduced Dutchess and VGLS, and probably is putting the deal together. She also was involved with the company that was taken over, and that company was not a scam.
Enjoy!!!
http://globenewswire.com/news-release/2010/01/07/411753/181344/en/Viking-Systems-Secures-5-Million-Equity-Line.html
Viking Systems Secures $5 Million Equity Line
http://sec.passfail.com/filing/s-8-pos/0001193125-12-405891/cik-1065754/
Amy M. Trombly, Esq.
http://www.vikingsystems.com/files/News%20Releases%20Web/2012/VKNG%20Conmed%20joint%20Press_Release%20FINAL.pdf
CONMED Corporation to Acquire Viking Systems, Inc.
Negative, Negative, Negative and I ask you why you are so negative?......Since you don't know of any company that isn't a scam that made an investment deal with Dutchess Capital, I'll show you one. Will a company with a 290 million market cap be okay!!
http://www.sec.gov/Archives/edgar/data/39311/000095012310064380/k49406exv99w1.htm
INVESTMENT AGREEMENT (this “AGREEMENT”), dated as of July 7, 2010 by and between Independent Bank Corporation, a Michigan corporation (the “Company”), and Dutchess Opportunity Fund, II, LP, a Delaware Limited Partnership (the “Investor”).
http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=100319
Market Value ($M)290.63
Independent Bank Corporation is a Michigan-based bank holding company with total assets of approximately $2.2 billion
---------------------------------------------------------
I know you keep trying to find dirt on the company, but what I've found since Karen Newell came on board, TRUMPS anything you've put on here that happened before Karen Newell joined Viral.
Got it, thanks!!
So you think the insiders are dumping. If there is a dump, where is the pump. Isn't that standard for pinkies?
If you go back to the Q3 financials and re-read the Patent License Agreement, you'll see there was an initial payment of $50,000 back in July 2013 and an additional payment for the calendar year of 2013, to be paid on January 1st, 2014 in the amount of $20,000
So they paid out $70,000 so far and never put out a PR, as far as the License Agreement. So once again, no pump but you think there is dumping going on. I believe it's the after affects of Viral Genetics and converted debt is probably being sold. To me that's not dumping.
Now, as far as the Annual Report extension. I was hoping they would get it out on time, but same as above, if you go back and re-read the PR involving the prior year audit, you could see how it could take longer. It doesn't involve just one year and is involved with getting approval of Form 10 to uplist.
http://finance.yahoo.com/news/vg-life-sciences-starts-prior-100000772.html
VG Life Sciences will become a fully reporting Company and produce consolidated balance sheets of the Company as of December 31, 2012 and 2013.
The completion of this audit will improve internal controls, improve transparency and result in more timely, detailed information about the Company and its ownership. This audit will also enable VG Life Sciences to file Form 10 with the SEC,
Did you find that on a paid subscription or is that public information?
I would guess it is Mr. Belcher that worked for the Tynan Group. It would obviously show he left on good terms, is still in touch and is willing to help. "I'm sure he's being paid"
It would seem to me they are using his skills to get the Form 10 approved, as shown in his credentials with Peritus....
" managing all reporting requirements "
Thanks for bringing that here. I'll take your bet as far them working on Form 10. Unless you think Myron Landin worked on the two Supplemental Information reports put out Jan. 16th than it was KWCO that put them together. I was hoping it would have been all done by now, but at least with what you brought here, it will be done properly and could have added to the delay.
Since being converted and issued are two different things, I don't know why they would convert this early. But according to the Q3 quarterly it shows they have the option to convert when MVF wants, but will not be issued until the stated terms, as shown below from Q3. Since nothing says free trading, I'm guessing they will be held and then issued at the earliest in December. We'll have to wait for the Annual to confirm that and the DMBM share conversion, which I believe is a typo of some sort.
The outstanding principal and all accrued interest, at the option of MVF, shall be convertible at a conversion price 10% lower than the lowest three day average closing prices of the Company’s common stock starting on July 16, 2013 and ending on September 15, 2013 ($0.0588). Shares will be issuable on conversion of these notes in total in four equal tranches (25% each) on the following dates: December 15, 2014, March 15, 2015, June 15, 2015 and September 15, 2015.
Another reason I believe things are getting better is because the new amended and restated note to Best Investment went from a secured note to unsecured. It seems Haig locked up all the Company assets to Best Investment back in 2008 during the Lawsuit with T&T. With the Lawsuit over and the Company financed for at least two years it seems Haig is more comfortable with the Company. Below is the Old Note and the New Note
Old Note
July 8, 2008
Item 3.02 Unregistered Sales of Equity Securities
The Debt Restructuring Agreement converted the existing indebtedness to a revolving line of credit which is secured by substantially all of the assets of the registrant.
New Note
Fourth Quarter 2013
Best Investment Trust amended and restated unsecured note in the amount of
$1,013,023 originally issued to Best Investment Inc. on March 5, 2008 as a secured
note.
I believe you are correct, as far as an agreement with MB over certain issues. As far as the Board of Directors go, Haig only took control when the lawsuit with T&T started and now recently has given up one seat to MB which will be two once another Director is added. Before the lawsuit, there where six Board Members. So it seems things are starting to get back to normal. Below is from the past.
Our board of directors has six members. Our President and Chief Executive Officer, Haig Keledjian, is a member of the Board and is a full time employee of Viral Genetics. Another director, Arthur Keledjian, is the brother of Haig Keledjian. Hampar Karegeozian served as an executive officer until 2005. The other two members of the Board, Arthur Ammann and Elizabeth Hoffman, are non-employee directors, and the Board has determined that these persons are “independent directors” under the criteria set forth in Rule 4200(15) of the Nasdaq Marketplace Rules.
According to the September Quarterly DMBM is owed a little over 400 Grand, down from 870 in January. If the 2,000,000 share conversion is a typo and is $300,000 instead of $30,000 which would be at 15 cents, that might mean the DMBM convertible debt might finally be over with. There were some smaller notes to DMBM but the big nut might be over. It seems there will be no more games involving DMBM, since DMBM is involved in the Private Placement and will only be issued shares with the same terms as the PP. It seems no more new debt for free trading shares. To me it is a positive that DMBM is willing to wait for shares as all the new money invested in the PP.
Also to see Best Investment take shares at .24 cents and Haig only controlling 12% of the outstanding shares, it seems he doesn't have as much control as you state.
Haig Keledjian
P.O. Box 1020
South Pasadena, CA 91031
Approximately 12% of issued and outstanding shares
Well it seems you got your wish and now know where the shares went. It seems your share count will be way off on the 7 million you say is owed if the recent updated filings on the OTC Markets is any indication. It seems Best Investments, which is Haig, exchanged shares for debt at an average price of .24 cents. It also seems they are close to moving up to the OTCBB. IMO
Best Investment Trust issued 2,000,000 shares for the conversion $479,070.75,
approximately $0.24 per share, with a five year warrant to purchase a like number
shares pursuant to a cashless exercise price of approximately $0.36 per share.
Jack this came out yesterday
UPDATE: UTHSCSA Releases New Findings For VG Life Sciences’ Physician-IND Phase I Cancer Study
Back in April, BioNews Texas reported on positive safety results for California-based VG Life Sciences‘ Phase I study of its promising anti-cancer drug, which were conducted at The University of Texas Health Science Center in San Antonio (UTHSCSA). Since that time, continued Phase I testing of Physician-IND for tolerability and toxicity of its patented technology in patients with advanced stage solid tumors has revealed more positive results.
There was a big Breast Cancer Symposium down in San Antonio last week when the PR was put out. Did you notice the breast cancer patient was specifically brought up in the PR, so I doubt the good doctor was embarrassed.
Below is a quote from Dr. Curiel in 2008 when he was president of the CTRC.
http://www.aacr.org/home/public--media/aacr-press-releases/press-releases-2008.aspx?d=1230
SAN ANTONIO - This year marks the first San Antonio Breast Cancer Symposium to include the collaborative efforts of the American Association for Cancer Research, the Cancer Therapy and Research Center at the University of Texas Health Science Center at San Antonio and the Baylor College of Medicine.
"SABCS is arguably the best breast cancer research meeting in the world, and with the addition of high quality science, credibility and outreach efforts from the American Association for Cancer Research, this collaboration will garner further scientific prominence," said Tyler Curiel, M.D., president and chief executive officer at the Cancer Therapy and Research Center.