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What about Obasanjo, the ex-president of Nigeria who launched Nicosan?
Copies should be sent directly to the Chairmen of the Boards of these banks as well.
wEaReLeGiOn...what is your opinion about Cosmid, LLC., CO-103? Maybe you can tell us what's going on.
That's right--a contingency plan to ascertain our share of the newco. We can start by delegating a group to meet with the cc and discussing our plan.
How do we go about it?
It'll be good if we can merge the two. Is there a possibility? If so how do we go about it?
rubco, I am aware of what the cc's want that's why every shareholder should be nervous. As long as there are two POR's in court one cannot be certain which one the judge will favor. This is my position and that's why I think the two POR's should be merged with unsecured creditors swapping their debts for stocks of the newco.
That's my point. Instead of the "tug of war" that's going on and the time being wasted while Nicosan languishes, the parties should meet and negotiate a reasonable deal that provides for all parties including current shareholders. A reasonable reverse split will solve the dilution problem. There is so much potential here that in time, all parties involved will benefit. However if we continue on this path, with this lengthy legal process, new products will enter the market that'll erase all our hope.
Thanks.
Do you think we should organize a letter writing campaign and ask for a negotiation?
The problem in Nigeria can be resolved by a re-org XI with adequate funding to start production. That's what is needed to dislodge XN from the bank and NICOSAN from NIPRID.
There are two POR's outstanding. There should be only one presented to the judge that's why I think there should be a deal between the parties so we can present a final version of the POR and emerge from bankruptcy with all parties having a piece of the newco. Simple.
Shareholders should delegate a group led by Monty to negotiate a deal with the CC, Dr. Pandey and Basu. When they reach an agreement,they should raise funds to pay the bank and secure XKEM Nigeria then approach NIPRID to secure Nicosan, start production, marketing and sales. Revenues will follow so will research and development of other drugs. Dr. Pandey will get his back pay and then some. Shareholders will enjoy a rise in share price and Basu and his investors will make a killing. That simple.
Right you are.
RP is well aware of this. He holds a lot of shares of the old stock as well plus he has invested a lifetime working on Nicosan so he has a lot to gain if he's able to exchange his shares for the re-org newco shares. He should be negotiating a deal with the CC to swap their debt for equity so no party is left out.
I think a compromise with creditors for a debt/equity swap or convertible debt might work. If they can make more as shareholders, why settle for interest on their money?
They are talking to NIPRID and the bank as well. They also want COS-103 and whatever they can get of 5-HMF sale.
ElisC...We should also think about what if it isn't and what should we be doing to make sure we're not thrown under the bus by the creditors. Should we set up a committee to meet and negotiate with them for a percentage of the newco? Or should we send letters to the judge?
The price of the newco will reflect a projection of revenue over a 10-year period or so. We want a piece of it.
If we get a percentage of the re-org company no need to sue. If not there should be a class action lawsuit against the board including Dr. Pandey.
Still holding as well. Will hold until the fat lady sings and justice is done.
I wasn't aware of the lawsuit to recover 5HMF on behalf of XI. That's good news. Thanks.
Can the judge reverse his own decision and recall 5HMF?
We can hope that he gives us COS-103 and Cosmid since XI paid expenses relating to this company. Getting these two drugs back together with Nicosan would be the best case scenario for shareholders. Nicosan will generate the revenues needed to pay creditors as well as fund research and development for the two new drugs.
Problem is the Creditors Committee and how we can negotiate with them to reach a common ground. Is that possible or not?
Check the date. Unless someone knows what we don't, it's probably an old analysis. Could you post it? Thanks.
Thanks for your indebth analysis and for bringing us all this information. Your contribution is very much appreciated.
I think it's 10% of the value of XN. IMO
If they want Nicosan, they have to work with Monte and Pandey since they are ones to regain Nicosan and oversee production and sales in Nigeria. Their plan includes common shareholders and unsecured creditors. Basu has to structure his financing in a way that would prevent a small group of investors from taking over the company with a paltry $2 million. As a result, I think common shareholders are safe.
IMO there has to be a compromise between the two teams eventually. In that sense, I think shareholders are safe. Basu cannot raise funds unless it's for a reason and that reason is producing and marketing Nicosan. His presentation to prospective investors would include estimated sales figures of Nicosan and projections.
Basu has to figure that out. He's the one raising funds. His estimate should come close to $700 million more or less. JMHO
'am gasping for air and hoping for the best. We're not out of the woods yet with the creditors committee in the midst wanting to raise money for a plan that doesn't seem to include Nicosan. Somehow, I feel X could emerge as Cosmid.
Any thoughts and comments?
Monty...do you know what's in the Creditors Committee's re-org plan and what they intend to produce? What are they raising funds for? This appears to be an attempt to waste time and prolong this mess.
....and guide your sword into the heart of the enemy.
Where is the document from and what's in it?
Oh schucks. It's the cow.
Q will be removed when the cat jumps over the moon. lol
So is Dr. Kwaku Ohene-Frimpong of the Children's Hospital of Philadelphia. He worked closely with Dr. Pandey on Nicosan. I was surprised to see him on Swift's list.
I will be calling Dr. Frimpong next week to get his opinion about Swift's fake Niprisan.
Monty, writing people on his list is not going to be effective. I am sure they already know who he is, his affiliation with XKEM and the drug CO-103 that they're all working on. We should rather tell the FBI and the SEC about his claim of having worldwide patents for CO-103. If he does, XKEM shareholders should be informed since its a derivative of our drug NIPRISAN. Let's organize a group that would either meet with or talk on the phone with the FBI and the SEC. We can't be afraid of publicity. It could help our cause.
Monte...since you know more about this situation than we do, is it accurate for RS to say that his company COSMid owns the worldwide patent rights to COS-103 (NIPRISAN)? I think we should do a write up on GOOGLE about Swift to warn prospective COSMID shareholders and investors of his conduct and activities. It should be such that information about him would pop up as soon as anyone types in COSMID or Robert Swift.
Did NIPRID sell him the rights to reproduce NIPRISAN? What is Dr. Pandey's view about this. I wish he would communicate with us.
Looks like Swift gave up the fight for XKEM(applause)... "his most recent position was Chief Oversight at XKEM International" as stated in the PR dated September 16, 2009 just a week ago. Makes me feel that we should be re-organizing under Monte's plan. The keys should be handed over soon as well.
I like the fact that he referred to NICOSAN as "the most effective drug with minimal side effect" However I am shocked beyond belief that he pulled this off. What is amazing is that he's working with the same scientists Dr. Pandey worked with in developing Nicosan which makes me feel that there is more to this situation than we know.
Best thing to do is to concentrate on getting XKEM Int'l and XKEM Nigeria back without creating any bad press as Monte suggested. We are far ahead of the game than he is. After we achieve our goal, then we'll go after him and shut down his laboratory.
That would be fabulous. We need to erase at least one zero and stay there until the next milestone.