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Thanks for sharing... I have complained to SEC, FINRA, board of rcpi...etc.. these guys seem slow to move... glad that FINRA at least wrote you back.. i have not heard back from them yet.. but did hear back from the SEC and company.
Have you called them in response yet. Let em know while it is nice they have acknowledged hearing from you.. when someone is getting financially murdered.. ie.. stock dropping from 70 cents when deal amended February 4th to a penny plus today... any delay will make things worse for the victims and harder to restore them for their losses.
Thanks for sharing and the actions you have taken. I really did not intend to be a trader on this.. had good chunk in a retirement account average price 30 cents... not happy.
RCPI is not selling and has no selling agent per se... maybe cdel is the selling agent for Alto, the smaller of the two convertible note holders or. more than likely it is just filling orders to sell on one side.. and buying on the other... I think it has a few shares it wants to buy at a penny... maybe more than are being shown.
Chart looks good to me.
All quiet on the RCPI front...
Appears buyers and sellers are waiting on something...
Could company actually be preparing to go after note holders for breach thru Maxim or stop making monthly payments with stock?
Anybody write or call Mullan or Jenkins or board to encourage them to stand up for best interest of company and shareholders?
Big spread a penny by a penny and a quarter.. close penny and a quarter up ... ever so slightly... and above 20 day simple moving avg. which looks good on the chart
First time force has been positive in ages.. highest williams percentage R in ages and rsi is looking good and signaling a buy at 30.40.
See AMRS is set to open higher on news. Not sure it is a pincher, but I hope you get nice rally today.
What will the impact be on stock price when company elects to make monthly debt payments with cash instead of with stock?
To date, default payment method company chose when stock price was much, much higher under the 20 million convertible note funding agreement has been for company to make the monthly debt payments with stock. With lower stock price, company is looking into paying with cash instead.
If you think they should pay with cash and not stock, please write them.
board at rockcreekpharmaceuticals dot com.
Deadline for company to notify convertible note holders of its decision to pay with cash instead of with stock could be required to be met as early as the end of this week July 5th at the latest from what I have read.
Good catch! Maxim and convertible note holding shorts are rewarded when company makes payment with stock which provides stock needed to cover their short positions at a discount to what they sold the stock for for nice built in profit. This is how company has made monthly payments since March with stock and not with cash and the stock price more than reflects this with current stock price being much lower than it would otherwise be because of this.
Yesterday stock closed above 20 day moving average for first time in a long time... and almost all technicals are looking good, so I think stock rallies again today and if today, why not tomorrow?
If company makes decision at the end of this week or just after 4th of July to start making monthly debt payments with cash, I think this could add some fuel to the rally.
Thanks, I am really hoping this will be my first real pincher play... am holding to see what happens.. and hoping for the best.
Thanks for the chart work Interloper! Hoping shorts don't keep this below 1.2 cent 20 day moving average close today.
Neat chart from interloper from the house of pinchers
If sure looks like seller at ETRF is trying to get stock to close below 1.2 cents..and now NITE joined in to drive price down at the close.. unless big buyer shows up it looks like we will close below key 20 day moving average, which would signal great overnight buy... buy, buy,.. but buy signal it is regardless.
Maxim may have to cover if company make monthly payment with cash and not stock...
Mullan will have to make decision known within next two days or so... so please write or call and plead... demand, whatever, but ask him to please not use stock.. use cash to extent available.
write board at rockcreekpharmaceuticals dot com
Maxim was on the bid for a moment before price fell back... upward line at around 1.2 cents... Maxim may try to knock price down here... by hitting bid, not making market, so he need not cover yet. Anyone know if Maxim got filled or did he pull his bid before it was hit for 180,000 at .131?
This could keep going up, but it depends on decision by company that is fast approaching... and in regards to which there may not be a press release. That is whether company makes next debt payment with stock or with cash. If with stock that will not be good for sustained rally, but if with cash.. stock could really explode. Please see my prior post #27040
Please write company, encourage others to do the same... and do it today. Time is of the essence. It appears NITE and CDEL often Maxim's partners in the illegal shorting and downward stock price manipulation scheme are trying to cap rally at 1.2 cents... but still nice chart.
Writing company still needed, as well as complaining about Maxim downward stock price manipulation scheme to SEC, FBI White Collar division.
Please write the board at rockcreekpharmaceuticals dot com
The more who write, the better!
Five key points:
1. Maxim put the current and amended $20 million convertible note funding agreements together.
The agreement was put together in such a way as to place continued funding to RCPI in jeopardy from the start. Key provisions were put in that could be violated by the company with no or little harm to lenders and that were beyond the company's control, yet still by being violated would cause breach, cause company harm and cause need to negotiate from weakness caused by breach to continue funding. The two provisions company has made public it breached were:
A. Continued listing on Nasdaq – Maxim and convertible note holders were aware this was about to be breached when agreement signed October 15, 2015. Nasdaq gave notice September 22, 2015 and delisting took place on November 3rd, 2015. In September 22, 2015 notice by Nasdaq, company was informed funding agreement it entered into in June required shareholder approval for continued listing. The October funding agreement also required shareholder approval for continued listing on Nasdaq. The Lenders, and not the shareholders, waived this requirement as part of amended agreement.
B. Minimum average share price of 45 cents. Any downward pressure on stock could result in company being in breach of this provision. Stock was trading in the mid 60 to mid 70 cent area when amended agreement was negotiated and entered into by both parties. The stock price soon began to drop and Maxim exerted pressure on stock price resulting in it falling below 45 cents for the first time on March 25th, 2016.
2. Maxim led a downward stock price manipulation scheme that resulted in stock price falling from just over 70 cents when amended agreement was entered into in early February, 2016 to current price of about a penny today.
3. Maxim was the selling agent for at least one if not both convertible note holders and it should have been obvious to the note holders that Maxim was shorting the stock, either on their orders, or as their agent, and they ratified Maxim’s actions by ignoring their breach and enforcing the breach by the company caused by their breach.
4. Company will be deciding within days whether to make their next monthly debt payment of about $400,000 with stock or with cash. If made with stock, this would reward the downward stock price manipulation and shorting scheme led by Maxim, and Maxim and/or convertible note holder’s current short position that must be in the area of 20 million shares. If they issue stock at discount to a penny, this could lead to nearly 50 million shares being used to pay the $400,000 payment, putting further downward pressure on the stock while enabling Maxim and/or convertible note holders to cover for a fraction of what they sold the shares for when the price of the stock was falling as a result of their shorting scheme.
5. Further damage to shareholders will take place if Dr. Mullan, the board and company does not step up to stop making debt payments with stock and negotiate and if needed sue for breach by convertible note holders thru and because Maxim was and has continued to be their stock selling agent and Maxim clearly shorted the stock breaching the provision of note holder funding agreement prohibiting shorting stock in RCPI.
I am sure better cases for the company not making monthly debt payment with cash than I have made, can be made... and it seems company has been in trouble with Maxim brokered funding agreements from the get go... it is like they were designed to fail and cause stock to drop in value.
Stock is up.. great.. but it can and should go up much, much more if company goes to bat for shareholders today... If company makes next two monthly payments with stock and not cash, it will reward Maxim and penalize shareholders.
Immediate action is needed by Dr. Mullan to to declare decision company is making payment with cash and not by default with stock is needed, deadline is fast approaching. Re-negotiating deal for breach by note holders is needed and/or sue for breach. PR is needed. Please write them.
Writing company might help it pinch upwards.
The default method company has elected to make monthly debt payments is with stock. Company feels no need to announce, but I believe they should. If company elects to pay with stock, they will issue maybe as many as 50 million shares this time to make a $400,000 payment.
What could really drive price higher is if Mullan and Jenkins to make monthly debt payment with cash. This could result in outstanding number of shares being half what Maxim who has led shorting scheme on company stock is expecting.
I wrote board at rockcreekpharmaceuticals dot com this time to ask, plead... it might pay off for more to do the same. I think they may be looking at as a numbers game, the more shareholders and there are many, who write and plead, the better the chance board will relent and not pay with stock.
Maxim has led shorting scheme and will be rewarded big time if company makes payment with cash and this will be at expense of shareholders. Please write co. to complain of company knowingly rewarding Maxim by issuing stock in payment of debt at these low and manipulated low prices by Maxim.
Maxim termination of coverage and Supreme Court ruling could pave the way for better days for RCPI!
Unanimous U.S. supreme Court decision could lead to more friendly FDA and open door for FDA approval and maybe even open door for J. Willams to return to RCPI.
FDA almost seemed against RCPI because of McDonnell case.. so now maybe they will welcome RCPI IND and FDA approval efforts
J. Williams may look at anatabine as his baby... might be far fetched but he might seek to return... provide alternative funding.. better legal team, etc.. to deal with criminal acts and torts by Maxim against company and shareholders as well as breach by note holders thru Maxim's agency.
Hopefully company acts swiftly on news to defend and enhance shareholder value, better negotiate with and/or sue convertible note holders for breach thru actions by Maxim and start moving towards FDA approval for anatabine citrate, not just for current announced testing, but also for anatabloc.
The time is now to write the company
board@rockcreekpharmaceuticals.com
tjenkins@rockcreekpharmaceuticals.com
Let em know the Maxim Group has screwed the company and shareholders over... Maxim's action and not company performance has led to a 99 percent decline in the value of the stock from 50 cents to just over 8/10ths of a cent today. Maxim led the downward price manipulation short play, but they were not alone, CDEL was involved and both NITE and it appears a large short thru ETRF is and also has been involved in the shorting scheme. It looks like CDEL and NITE are covering today, maybe on Maxim's Rcpiexit and termination of covering rcpi anymore. Yipee!!
If Maxim had not exerted pressure on the stock in the middle to end of March and led others to do so, it is doubtful stock price would have fallen below 45 cents per share. Maxim ran a shorting scheme, and it did so holding itself as the selling agent for the convertible note holders. The convertible note holders have held company accountable for average stock price breach, ratifying Maxim's actions and therefore entering into the short selling downward stock price manipulation scheme through the agency of the Maxim Group.
The company has one helluva case here.
It could be used as needed leverage to negotiate better terms to the existing convertible note note funding agreement and/or to sue Maxim and or to sue both Maxim and convertible note holders for breach, for shorting... for downward stock price manipulation scheme... this would enable company to recover millions in damages... millions.. just a return of fees paid to Maxim would amount to about 1.8 million plus interest... and the drop in the price of the stock.. and how Maxim and/or convertible note holders profited from selling stock short before company made monthly debt payments, profited from breach of Nasdaq listing and then minimum stock price both known and caused by Maxim and convertible note holders and by the unreasonable provisions included in agreement, not amended or changed when Nasdaq gave notice of imminent delisting on September 22, 2005 over three weeks before Maxim led both parties into agreement on October 15, 2015 and then when Nasdaq delisted stock on November 3, 2015, convertible note holders gave evidence of ratifying Maxim as agent and its involvement in drawing up terms of agreement when they exerted through fear and intimidation another $660,000 in "make whole" interest penalties for stock no longer being listed on Nasdaq.
Then earlier this year, with minimum average price still in agreement, note holders never removed, even though price had dropped down to within striking distance of 45 cents in early February when convertible note funding was amended and resumed.
The short selling scheme benefited the convertible note holders negotiations with company and may have benefited the note holders if they were the ones shorting the stock, but regardless, they have ratified Maxim as their agent and therefore they are in breach of the prohibition against shorting stock in the company... Period. Please write to beseech company to do the right thing, to do their duty to use the clear breach by the note holders thru the agency of Maxim and possibly also independent of Maxim if they instructed the shorting both of which violate the provision in the convertible note funding agreement prohibition against them or an agent acting on their behalf shorting stock in RCPI.
Maxim terminating coverage is great news!!
If not related to company taking action, and it might be, it sure will not get in the way of suing Maxim.
Lets hope company sues Maxim. It should be open and shut case of clear downward stock price manipulation. Company paid Maxim almost 1.8 million in fees to arrange financing, which Maxim clearly violated, not acting in good faith and leading short selling downward price manipulation for more than three months now, maybe dating back to June of 2015.
In terminating coverage Maxim disclosed:
Maxim Group makes a market in Rock Creek Pharmaceuticals
Maxim Group managed/co-managed/acted as placement agent for an offering of the securities for Rock Creek Pharmaceuticals in the
past 12 months.
Maxim Group received compensation for investment banking services from Rock Creek Pharmaceuticals in the past 12 months.
Maxim Group expects to receive or intends to seek compensation for investment banking services from Rock Creek Pharmaceuticals
in the next 3 months.
An affiliate of Maxim Group beneficially owns warrants/shares in Rock Creek Pharmaceuticals
Yep.. been getting it wrong.. my average price is about 3 cents.. so I am hoping... it may depend on company not making monthly payment of debt with stock.. to really take hold, otherwise rally maybe limited to about a nickle... if they stop paying with stock price could jump to a dime or higher.
Decision will be made end of this week.
I have written company to plead that they use restricted cash accounts... not stock for foreseeable future... at least next three months until stock price recovers.
Ted Jenkins appears to need board to be persuaded to take action to defend price as he would like to. So, if you want to see stock price go up, write the board@rockcreekpharmaceuticals.com and ask them to negotiate payment terms and get provisions amended based upon breach by the convertible note holders due to the short selling and stock manipulation breaches of the convertible note agreement by Maxim and/or other agents to sell stock for the convertible note holders.
Maxim is the lead market making seller of a short selling scheme to defraud shareholders of rcpi and damage the reputation and investor confidence in the company.
The Maxim Group, LLC has 3 departments all allegedly separate from one another. One has a buy on this stock set at $4 per share based upon what appears to be realistic expectations, but now too low of an outstanding stock estimate.. so price may need to get trimmed to a buck or two from current $4 price target.
The investment banking part of company put together the adverse and now obviously taken advantage of funding agreement that among other things required listing on Nasdaq, after Nasdaq made it clear the potentially dilutive terms of the agreement made shareholder approval necessary for continued listing. Shortly after Nasdaq notified company of imminent delisting on September 22, 2015, Maxim persuaded company to enter into a gross, company will not see $20 million convertible note funding agreement that required listing and average share price over a certain period of time of 45 cents or company would be in breach, jeopardizing release of funds for company to use from restricted accounts and not allowing company to make monthly principal and interest debt payments with stock, which was to be the default way company would make payments unless they decided otherwise by around the 1st of each month, payable by cash or stock on the 11th trading day of the month.
The convertible note funding agreement contained a best efforts clause when selling the stock and a prohibition against selling the stock short. Both of these provisions have been routinely violated by Maxim as the selling agent for at least one, if not both of the convertible note holders.
On November 3, 2015, the company was delisted by Nasdaq. The result of this was construed to be a breach of the contract the company entered into with the convertible note holders and due to the way the agreement was put together by Maxim, both release of funds from restricted accounts and payment by the company with stock was put in jeopardy and company negotiated to get back in compliance while the price of the stock sank down to near 60 cents per share. Neither the company or Maxim or the convertible note holders got rid of minimum average price provision.
On March 25th, 2016 based on pressure applied previously and on this day, Maxim caused stock price to drop below 45 cents per share. Maxim has led manipulated short selling and/or front running sale for note holders to drop price to under a penny since, with selling countless millions of shares of stock, not issued by company when it sold the shares short.
On June 1st and 2nd, 2016, Maxim and other sold more than 25 million shares of stock in RCPI short... in just two trading days.
Company has said it was in breach of minimum average stock price provision of convertible note agreement and appears to have been negotiating from weakness since May of 2016. It made decision to continue to make payments in spite of drop in share price, aiding and abetting shorting scheme either negligently or otherwise in May and may have done so again in June. The company has not released outstanding share data since May 9th, when indirectly by stating fully diluted number of shares was 28.7 million, it indicated common shares outstanding was about 22.2 million after May stock payment.
ChasingPennies305, what did you tell us?
Did you tell us stock would be up today when world markets are all down?
Did you tell us FBI white collar crime unit is about to come down on Maxim led shorting scheme?
If you told us, "the only thing that matters (is)that this stock is trash going to trips then reverse split" are you going to admit you were wrong?
Did you tell us SEC is investigating downward stock price manipulation led by Maxim, CDEL and others?
Did you tell us outstanding shares were only 22.2 Million in the middle of May?
Did you tell us company IP is worth much more than many think?
Did you tell us company will soon be more shareholder friendly?
Did you tell us stock will rise to a nickle by mid August?
ChasingPennies305 with your criminal Walt from breaking bad photo, Just what did you tell us that was true? Anything? or.. Where were you to warn us when stock was trading at 100 times the current price? When will you tell us that the stock is good and worthy of our investing in it?
Maxim not alone in shorting scheme and is back at ask of .0088.
CDEL, and others are also involved. Thinking there is a big short who trades thru ETRF.
and just because Maxim not making market on sell side, does not mean he does not hit bids when he can, he has in the past.
It is good he is not at ask, but it would be better if he was sued big time by company, had to repay 1.8 million rcpi paid Maxim for June and October funding deals and a few million more for damages for acting in bad faith, shorting stock, etc.. Crimes have been committed... so prosecution is good idea and those responsible should be convicted and spend some time in prison.. it is only fair, for torts, they should have to pay damages to make company and us shareholders whole.
Both crimes and torts have taken place.
Maxim as the selling agent for one or both convertible note holders and as the trusted advisor who brought both parties together and into the $20 million convertible note holder agreement has clearly acted in bad faith, violated the prohibition against shorting stock in RCPI applicable to the selling agent of the convertible note holders and engaged in a short selling scheme that appears top included to include front running, each contrary to and in breach of the agreement.
Company needs to use this breach in any and all future negotiations with convertible note holders. Breach can be shown. Terms can be amended. This could open up alternative financing.
In my opinion, company needs to use this in their and OUR favor. If they don't, I believe they might be liable as well.
I have written the company, I have complained to the SEC and FINRA. Others have as well, but really the best penalty is for the company to cease rewarding the convertible note holders and their agent by negotiating and making monthly debt payments with stock. Company needs to negotiate or sue for breach and receive, rather than pay damages for breach and change the provisions of agreement to make for shareholder friendly at the very least.
They need to address the breach led by Maxim in their negotiations and if needed they need to ask the FBI white collar crimes division to get involved, to ask the SEC, to report this to FINRA and to sue the other parties for breach of contract.
Please join me in writing the company and urging them to look into breach by convertible note holders thru agency of Maxim, CDEL or others, and which convertible note holders have ratified if they have continued to use, making their breach more certain.
The company can and should stop making payments with stock and negotiate out of agreement or sue for breach or both and get out of the agreement and line up and obtain alternative funding from more traditional and more shareholder friendly sources.
Maxim has breached funding agreement as agent for convertible note holders and as trusted advisor to company.
Need to write company.
Please join me in writing the company.
board@rockcreekpharmaceuticals.com
tjenkins@rockcreekpharmaceuticals.com
Not sure email address for Dr. Mullan, but might try
mmullan@rockcreekpharmaceuticals.com
What is past is past, but no excuses if company uses stock to make monthly debt payments going forward.
Maxim as the selling agent for one or both convertible note holders and as the trusted advisor who brought both parties together and into the $20 million convertible note holder agreement has clearly acted in bad faith, violated the prohibition against shorting stock in RCPI applicable to the selling agent of the convertible note holders and engaged in a short selling scheme that appears top included to include front running, each contrary to and in breach of the agreement.
Company needs to use this breach in any and all future negotiations with convertible note holders. Breach can be shown. Terms can be amended. This could open up alternative financing.
22,212,294 shares outstanding @ May 9, 2016
Arrived at from June 1st presentation as of March 31, 2016:
Common shares outstanding 15,024,017
Warrants wtd. Avg. price $0.97 4,516,944
Warrant wtd. Avg. price $21.59 1,072,737
Options o/s wtd. Avg. price $55.30 840,600
Fully diluted shares @ March 31, 2016 21,454,298
Increase in number of shares thru May 9th, 2016 7,188,277
Fully diluted shares @ May 9th, 2016 28,642,575
Common shares outstanding @ March 31, 2016 15,024,017
Increase thru May 9th, 2016 7,188,277
Outstanding shares as of May 9th 22,212,294
In June 1st presentation with numbers updated thru May 9th, 2016 and in reference to number of shares increasing from 15 to 22.2 million, Michael Mullan stated "number has increased substantially since stock price has not been good."
This would have included an accrual of all stock in lieu of cash company had agreed to pay since the end of the March 31st quarter, decisions made at the beginning of each month. It should include the beginning of May accrual.
So the May outstanding share amount should be a good estimate of outstanding shares thru the end of May.
Something needs to be done about breach of noteholder agreement by the note holders thru the agency of Maxim and/or CDEL. Company appears to be negotiating from weakness, with no acknowledgment of breach whatsoever. We need to write and call company on this. Negotiations by company appear be rewarding convertible note holders with more stock than would have been expected based upon the principal and interest due if paid with stock, so it appears company is not using probable breach by convertible note holders of prohibition of shorting stock in company, if Maxim or CDEL are selling stock as agents of the note holders.
I repeat, based upon end of March conversion price of about 28 cents and end of April conversion price north of a dime, company should not have had to pay 7 million shares in total, the number of shares should have been lower, closer to 5 million shares, so negotiations clearly are not addressing breach by note holders by their agents, Maxim and/or CDEL who are clearly shorting the stock and/or front running.
So... please write Mullan, Jenkins and the board at rcpi. If you have not already done so, write the SEC too... front running is illegal.. and shorting is prohibited by note holder agreement.
I got my rally cap on.
Enough with the down days... time to go up.
see my post 26834.
I would not be at all surprised to see us back above a nickle by time company reports. Many here still need to write the board, ask for news release, press release.. for company to defend stock price.. etc.. but I think we are going higher from here.
Maybe short interest is that high?
Isn't it possible to have many shareholders with large numbers of shares if short interest is high enough?
What if unbelievably high short interest is more responsible for high volume of stock switching hands than a high total outstanding shares amount?
Shorts may be churning through quite a few shares.. each and every day... selling stock down...led by Maxim and CDEL and buying back as they go at lower prices. Heck they might even be doing this at same time we might expect sales to be taking place by convertible note holding shareholders if company made payments with stock and not with cash.
Do we know for a certainty that the company made its principal and interest payments to convertible note holders this June with stock and not with cash?
Has anyone had any luck getting O/S share number from transfer agent or the company? I get the feeling most companies, if they have not been issuing much stock, wait until quarterly reporting to issue updates on the total shares outstanding. What if the reason company has not filed anything new with SEC since May 16th, is because nothing is required to be filed?
I think we should ask company to make information public.. the convertible note holders are able to discover total outstanding shares as part of contract within one day of making request. Fair, is fair, maybe we should ask company to make this public, at least on and as of the last day of the current quarter, on next Thursday, June 30th.
Email the company, email the board, write them, ask for public news release updating things and anything they can make public that might defend the price of the stock.
Shares outstanding as of end of last quarter were 15.024 million. Fully diluted was about 28 million, 13 million higher if all warrants, options, etc... were converted, but most have conversion price much higher than current share price and they are simply not going to be converted for a long time, if ever. Unless company makes known, we simply have no idea. However, there is NO evidence of company selling stock at the market.. or that it has engaged in any private offerings... the only way share total to go up is if company made and makes debt payments and/or debt conversions with stock and we don't know if or to what degree this has taken place, so another question for company. Not knowing, we are simply speculating.. not knowing I am confident number of shares outstanding are much lower than some think, however they could have gone up substantially since the end of the prior quarter, maybe as high as 50-55 million, but if company did not make monthly payments with stock, total number of shares outstanding could be much lower.
Huge short selling scheme and short position in RCPI!
What if company has not issued as much stock as we might be led to believe by watching trading by Maxim, CDEL and others?
What if the stock selling beginning middle of month is not stock paid by company to convertible note holders or on behalf of the company? What if the trading just makes it appear as if Maxim and CDEL are selling stock for convertible note holders or the company? What if company is not diluting stock like it is being made to appear?
What if huge selling by Maxim and CDEL June 1st and 2nd was sold short?
What if neither Maxim or CDEL are selling stock issued by company to convertible note holders right now?
There are many here who seem to buy line that there is a massive dilution of the outstanding shares in the company. But, what if this is not so?
While company may have made principal and interest payments with stock in lieu of cash in April, May, or June to convertible note holders and the way Maxim sells stock makes it appear this trader has been selling huge amounts of stock for the convertible note holders, with what appears to be an almost unlimited supply, what if this is not the case?
How do we know the convertible note holders sell there stock thru Maxim, or CDEL or even need to sell stock, if company has not paid them with stock?
In researching this.. while stock selling seems to coincide with when stock would be paid, what if there is a shorting scheme to manipulate price downward that includes Maxim, CDEL and others and they use the known dates to short the stock?
Does the SEC or FINRA or even the white collar crimes division of the FBI really care about a stock with a market cap under a million?
What if this is like the wild west and the current sell down is because perpetrators of shorting scheme know buying interest is beginning to dry up?
If we watch Maxim, for instance, while this market maker does sell stock, it may not be as many shares as it appears.. the market maker could be buying back, without showing bid and using reputation in coordination with others to drive down price... and cover from those who fear there will be no end to the downward plunge.
There have been no announcements from company to support the outstanding shares has grown as much as has been rumored on the message boards. The company will update us by the middle of August, and maybe sooner. I believe sooner would be better, as otherwise the perpetrators of the scheme will have been able to cover their short positions by time the next quarters results are presented.
If company is not dumping huge amounts of shares on the market, those behind the scheme will no doubt begin to cover soon, and might be covering already using fear as a weapon to shake shares out of many who have invested.
Just something to think about. Maybe best course is to write board of company and Ted Jenkins and ask company to make public what is really taking place and... if there is a huge shorting scheme going on, and far less stock is in fact outstanding that many here believe, then those behind scheme know company may not make this pubic until quarterly results are reported, and they are working the scheme accordingly, but what if company gets info out earlier, would this not be best way to defeat the scheme, restore investor confidence and defend the stock? I urge those who are concerned to write and plead with company to get information out as soon as possible to defend the price of the stock and bring the truth to light, exposing the works of the downward stock price manipulating short selling scheme.
Large short position in RCPI
What if company has not issued as much stock as we might be led to believe by watching trading by Maxim, CDEL and others?
What if selling beginning middle of month is not stock paid by company to convertible note holders? What if huge selling by Maxim and CDEL June 1st and 2nd was sold short?
There are many here who seem to buy line that there is a massive dilution of the outstanding shares in the company. But, what if this is not so?
While company may have made principal and interest payments with stock in lieu of cash in April, May, or June and the way Maxim sells stock makes it appear this trader has been selling huge amounts of stock for the convertible note holders, with what appears to be an almost unlimited supply, what if this is not the case?
How do we know the convertible note holders sell there stock thru Maxim, or CDEL or even need to sell stock, if company has not paid them with stock?
In researching this.. while stock selling seems to coincide with when stock would be paid, what if there is a shorting scheme to manipulate price downward that includes Maxim, CDEL and others and they use the known dates to short the stock?
Does the SEC or FINRA or even the white collar crimes division of the FBI really care about a stock with a market cap under a million?
What if this is like the wild west and the current sell down is because perpetrators of shorting scheme know buying interest is beginning to dry up?
If we watch Maxim, for instance, while this market maker does sell stock, it may not be as many shares as it appears.. the market maker could be buying back, without showing bid and using reputation in coordination with others to drive down price... and cover from those who fear there will be no end to the downward plunge.
There have been no announcements from company to support the outstanding shares has grown as much as has been rumored on the message boards. The company will update us by the middle of August, and maybe sooner. I believe sooner would be better, as otherwise the perpetrators of the scheme will have been able to cover their short positions by time the next quarters results are presented.
If company is not dumping huge amounts of shares on the market, those behind the scheme will no doubt begin to cover soon, and might be covering already using fear as a weapon to shake shares out of many who have invested.
Just something to think about.
Problem
Maxim, LLC is seller for one and maybe for both of the convertible note holders.
Problem.. Maxim, LLC makes market on sell side... is on the ask, but very seldom is on the bid... and if then only temporarily.
It appears Maxim is content either keeping very large naked short position and driving company and stock into oblivion or
it indirectly is able to cover each time company makes its debt payment with stock and not cash.. and this is important.. it finds this out before the rest of us... usually around end of month.
For instance, it appears Maxim found out company was going to make debt payment with stock around end of May. Stock rallied the the 1st... Maxim sold into rally and once it stopped rally at high of 2.6 cents.. it brutally sold .. the stock down.. all the way to half this price by the end of the next day... and stayed around just long enough, joined by CDEL, NITE and just for this morning, ASCM to drive price down to a penny before it bounced.. on very high volume.. nearly ten million shares in first 30 minutes... Maxim left ask at about 9:45 am, 15 minutes into day.. but may have hit the bid a few times as it left.
Always good to see some buying interest. NITE, CDEL and Maxim seem to be trying to keep price down.. it appears best if one is buying and wants best impact on stock price down road to wait for Maxim to be low ask and hit him hard... just my take. It appears Maxim trader sells until he has sold a certain number and would rather scare price down than actually sell. From watching him sell in past he is past the half way point, but appears to have ammo from convertible note holder that sells thru him to sell for at least another day or two.
If you get number of issued and outstanding shares from TA, please share.
Stock manipulaton/shorting play
More involved tham what we can see from outside.
This is just my take... I may be mistaken, but
Company needs funding to move forward. It appears that there are some complicating factors in regards to this when coupled with Maxim and/or CDEL stock manipulation / shorting scheme that may or may not involve the convertible note holders and there may be board members who need to be persuaded of need to take action now because of fear taking on the convertible note holders or Maxim or CDEL could jeopardize things.
I think if anyone here can make a case for why company can and should disclose for instance the number of shares outstanding, that company suspects stock is being shorted and the price of stock is being manipulated downward, and that this and not going concern fear or delisting is why stock price has fallen so much and so fast is needed.
If any of us can contact the board, send them an email and make a good case for this, I think it might go a long way towards persuaded the board members of the need to act and act now to protect the share price, protect the company and enable the company to do and take actions that board members might otherwise oppose.
Still long... riding out the storm.
Have you written the board? I think that might help.
Stock sure is over sold... volume not high enough for Maxim and CDEL to be done with their selling stock or shorting scheme for this round just yet.. might take another day or two.. and then.. I think it goes back up, but from what price? I think over a penny at least.. maybe 2 cents.. if company puts out news release ... then maybe a nickle just on news... clarification of shares outstanding.. hopefully they stop making payments with stock. Not a trader... so maybe i stop watching this... and it goes up??
Spoke with Ted Jenkins.
It seems there is more involved than it appears to us on the outside. One thing for sure, the recent and severe decline in the price of the stock has the board's and Ted's attention and I think they are going to try to do something about it.
Lets hope they move fast. There is all sorts of potential for tomorrow, but company stock needs to survive today to get there.
Lets see what they do.
Also, while Maxim is obviously a seller for at least one of the convertible note holders, keep an eye on the others... when I wrote the SEC, I mentioned I thought CDEL might be involved in stock price manipulation as well and NITE might be too and there could be others... my guess is there is way more stock out there trading than has been issued by company... many have large short positions, they don't want stock to go up, but if buying comes back in... news ... you name it this could really move up in price quickly. I am hoping for a press release as soon as possible, but.. August might be too late... just my opinion.. but the sooner company tackles this shorting scheme the better for the company and the shareholders.
I think I might be able to speak with Ted Jenkins soon. I don't think he or company really likes their stock being pulverized.
Any ideas on or support for position that Maxim is involved in some kind of a scheme that involves driving price of stock down?