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Also just thinking out loud about the Quiet Period ... the company's 10-K was supposed to be released by 3/30/20 but now extended until 4/28/20. Given this definition of Quiet Period:
"The second definition of a quiet period occurs in the four weeks leading up to a company filing its quarterly earnings report. Corporate insiders cannot speak to the public about their business to avoid the appearance, real or perceived, of providing insider information to analysts, journalists, investors, and portfolio managers. "(Note: the first definition refers to IPOs)
I'm just wondering if the Quiet Period is now extended an additional month? This could preclude any open market purchases by Insiders or their discussion about corporate activities. Either way, I'm also thinking this does not preclude an 8-K if there is any major corporate news.
I'm just throwing this out for discussion in case anyone has knowledge about the situation.
Did you notice the latest Form 4 has the name "Nano Magic Inc." instead of PEN Inc. Are they rebranding?
T4KingOff, I'm sorry you mistook my question and dated recollection for questioning your DD, but I appreciate your work and for sharing the details ... and hope you will continue to do so toward our common good. Sometimes we need to ask a question to find out where our own research (and memory) is faulty.
Just found the information I was looking for in Note 6 of the last 10-Q:
Class B Common Stock
Conversion Rights. Shares of Class B common stock can be converted, one-for-one, into shares of Class A common stock at any time at the option of the holder. Shares of Class B common stock will automatically be converted into shares of Class A common stock if the shares of Class B common stock are not owned by the Company’s chief executive officer, his spouse, or their descendants and their spouses, or by entities or trusts wholly-owned by them.
Voting Rights Holders of PEN Class B common stock are entitled to 100 votes per share in the election of directors and other matters submitted to a vote of the stockholders.
So Class B shares have 100 times the voting right of each Class A share, which gives Scott Rickert complete voting control.
I believe that Scott Rickert is still Chairman and CEO or PEN Inc. (the parent organization) and Tom Berman is President and CEO of PEN Brands (the subsidiary). I haven't seen anything to say that Scott Rickert doesn't still have almost full voting rights of PEN Inc. through his Class B shares. All the stock options being awarded are for Class A shares, which have equal value with Class B shares, but only 1/4 of the voting rights (I need to verify the exact voting right differential). In any event, both has a vested interest in the success of PEN Inc.
T4KingOff - Wow, that is quite some impressive DD. I was always focused more on the research team than the management side, so I learned quite a bit. It's been a while since I've seen Marc Eller's name mentioned. My big question is how does Scott Rickert (current Chairman and CEO) fit into the Management/Director puzzle you lay out, especially given that he and his family have almost 100% of the voting rights through their Class B shares. Does Scott Rickert have some past business relationship with the Gilbert empire or did that come through Ron Berman? I'm getting the sense that PEN, Inc. is part of a long-term (20+ Years) plan by Gilbert and associates for some ultimate purpose. Something tells me we are getting close to hearing more about that ultimate purpose.
Any further insight you can provide would be most appreciated.
Not the news we are looking for (yet), but another bit of information that takes us closer. Here is a link to a current NIH study that shows how long SARS-CoV-2 is detectable on different surfaces:
Plastic and stainless steel: up to 2-3 days
Cardboard: up to 24 hours
Copper: up to 3 hours
I've forgotten enough of my chemistry to remember why copper inhibits virus growth (at least more than other materials), but it again points to the PENC disinfectant (copper ion) being on the right path.
Article: https://www.nih.gov/news-events/news-releases/new-coronavirus-stable-hours-surfaces
Except for the quick rise 2-3 weeks ago on rumors I believe all the big holders in PENC are in it for the very long term based on their knowledge of LT potential. Otherwise you would have seen all the bids over 0.60 or so being hit over the lack of news/hype. The new PENC has stated and proven they will not give the competition (if any) any advantage by hyping their latest development just to move the share price.
To be fair, if the latest 10-Q doesn't provide any indication that PENC is pursuing commercialization of a nano based disinfection product, then I for one will need to reevaluate my very LT holdings. On the other hand, I do believe there will be beneficial news or I would not be here. I can only say if the stock rose 5x on just a rumor, I can only image the rise on real news especially given the low float.
I will keep looking for any news or insight toward our mutual success. All the best to everyone in this crazy world we are in.
Yes indeed. In fact I shared that patent on Post 3227. PEN Inc. definitely has a patented product that is effective on a Corona type virus. I'm trying to find any public information that shows they are either testing, producing, or selling such a product. Possibly they need to test the product on the COVID-19 strain before marketing? Just guessing right now, but again, I'm trying to find some mention in their last 10-Q that they are moving forward.
Four years ago they touted this exact scenario for use in public areas such as cruise ships, hotels and hospitals. I can't imagine they are ignoring this current opportunity, but I wish we could find some little tidbit of info to give us hope. I will keep searching.
Was reading through the last 10-Q (for 3rd Qtr of 2019) and saw the following discussion: Note the mention of "safety Industries" and "surface protectant". Just trying to figure out if they have a readily usable disinfectant product for market, but not sure if it refers to that or something related to their optical products (some type of glass protectant?). Well, hopefully we know soon. Decent price action today nonetheless.
ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following is management’s discussion and analysis of certain significant factors that have affected our financial position and operating results during the periods included in the accompanying unaudited consolidated financial statements.
OVERVIEW
PEN develops, commercializes and markets consumer and industrial products enabled by nanotechnology that solve everyday problems for customers in the optical, transportation, military, sports and safety industries. Our primary business is the formulation, marketing and sale of products enabled by nanotechnology including the ULTRA CLARITY brand eyeglass cleaner, CLARITY DEFOGIT brand defogging products and CLARITY ULTRASEAL nanocoating products for glass and ceramics. We also sell an environmentally friendly surface protector, fortifier, and cleaner. Our design center conducts development services for us and for government and private customers and develops and sells printable inks and pastes, thermal management materials, and graphene foils and windows.
Our principal operating segments coincide with our different business activities and types of products sold. This is consistent with our internal reporting structure. Our two reportable segments for the three and nine months ended September 30, 2019 were (i) the Product Segment and (ii) the Contract services Segment. For the three and nine months ended September 30, 2018, the Company operated the same two segments.
I just wanted to correct something I said in my first post. I'm a private investor that's been accumulating SIDT, NNPP, APNT and now PENC stock since 1995, not 1985 as I first indicated. How time flies when you are having fun (and dreaming of the day it hits big)!
I was reading through some of the PEN Inc. patents and came across the following reference that shows their disinfectant spray is 99.99% effective a particular Human Corona Virus. Of course, the big question is whether they are commercializing the product. We're one announcement away from a meteoric rise, although I'll be the first to say there have been a number of high expectation products in their portfolio that never materialized. We can certainly hope this time is different!
https://patents.justia.com/patent/9615572
Disinfectant spray comprising copper iodide
Dec 3, 2015 - PEN Inc.
An article of manufacture includes a liquid tight container that holds a disinfecting solution. The disinfecting solution is dispensed from the container via an atomizing sprayer. The solution is usable to apply a film of the solution on surfaces. The film applied by the atomizing sprayer is operative to destroy bacterial and fungal organisms on the surfaces at the time of initial application and organisms that later come in contact with the film on the surface. ...
Example 8
Experimental Test Against H1N1 Influenza A, Strain A-California, and Human Corona Virus 229E
A number of other tests were performed against H1N1 Influenza A, Strain A-California, and Human Corona Virus 229E. In the case of H1N1 Influenza A, towelettes embedded with water based solution of copper iodide at 20 mg/L showed according to modified test AATCC 100 a 99.7% reduction vs time zero control.
In the case of Human Corona Virus 229E according to modified ASTM E1053 the percent reduction was 99.99% in 10 minutes.
Of course it should be understood that Examples 1-8 are merely exemplary embodiments, and the inventive principles described may be applied to numerous other applications, uses, materials, situations, methods, compositions and articles of manufacture.
Sorry for the multiple posts last night.
Here is a link to a PENC (PEN Inc.) patent on disinfectant material (wipes) filed on 11/15/16 and issued 10/15/19. It is one of several similar patents on the product/invention. I'm sorry if I am repeating information previously posted on the board. https://patents.justia.com/patent/10440958
This link details the many patents of Zvi Yaniv (former President and CEO of Applied Nanotech) most of which are assigned to PENC: https://patents.justia.com/inventor/zvi-yaniv
It is quite a history of inventions. Unfortunately, PENC (and its predecessors) pretty much failed at all commercialization attempts.
Lastly, for those who want to understand more of PENC history, Zvi Yaniv's website http://www.zviyaniv.com/index.php
provides a good insight into the "mind of the inventor"
Here is a link to a PENC (PEN Inc.) patent on disinfectant material (wipes) filed on 11/15/16 and issued 10/15/19. It is one of several similar patents on the product/invention. I'm sorry if I am repeating information previously posted on the board. https://patents.justia.com/patent/10440958
This link details the many patents of Zvi Yaniv (former President and CEO of Applied Nanotech) most of which are assigned to PENC: https://patents.justia.com/inventor/zvi-yaniv
It is quite a history of inventions. Unfortunately, PENC (and its predecessors) pretty much failed at all commercialization attempts.
Lastly, for those who want to understand more of PENC history, Zvi Yaniv's website http://www.zviyaniv.com/index.php
provides a good insight into the "mind of the inventor"
Here is a link to a PENC (PEN Inc.) patent on disinfectant material (wipes) filed on 11/15/16 and issued 10/15/19. It is one of several similar patents on the product/invention. I'm sorry if I am repeating information previously posted on the board. https://patents.justia.com/patent/10440958
This link details the many patents of Zvi Yaniv (former President and CEO of Applied Nanotech) most of which are assigned to PENC: https://patents.justia.com/inventor/zvi-yaniv
It is quite a history of inventions. Unfortunately, PENC (and its predecessors) pretty much failed at all commercialization attempts.
Lastly, for those who want to understand more of PENC history, Zvi Yaniv's website http://www.zviyaniv.com/index.php
provides a good insight into the "mind of the inventor"
Haven't posted on this board before, but was active on other boards in years past. Started accumulating in 1985 during the SIDT and NNPP era, and have held onto those shares (yes, painful) and even added more over the years. Thru all that, I'm still a believer in the the original vision of nanotechnology advancements and see the current management as executing on that vision along with a big dose of financial responsibility (which was missing in the first 30 years).
Regarding current activity, I'm happy to see management finally getting current on financial documents, which is absolutely needed for future success and growth. I, too, am eagerly waiting on news about the disinfectant wipes. I remember from the 2015 period that the disinfectant wipes have been tested and proven to work as advertised (and covered by appropriate patents). I guessing that the market for the product has been extremely limited for lack of a critical need. However, hospitals, senior homes, airlines and the cruise industry should now be absolutely clamoring for the product. I just hope the company is in a position to market it effectively. The new management has been very tight lipped about progress and opportunities in any of its products to avoid giving information to competition. (That's another whole story about how their Chinese partners violated patents in the past). Most likely management is now in a quiet period before earnings release so it may be a couple weeks yet before news.
So as we all wait for the hopefully fantastic news, I wish everyone success and look forward to more good communication on this board.