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Good to see! "If the Company’s application is accepted by the NYSE American, the Company expects that its shares of Common Stock will trade under the symbol VTRO”. Any idea of how long it would take for the application to be acted on?
Good job giving Schwab a heads up, and thanks for sharing their response.... glad that they seem to be ready for it when the time comes. And no, I don't think you're out of line at all with Haas, seeing that they've been totally remiss in not even attempting to give us updates..... we'd might as well have been living on reds, vitamin C and cocaine.
Thanks Tom, that's great news. Please let me know what Schwab says. Cautiously optimistic!
Tom, thanks for spelling it out like that. Very helpful. Disappointing that they haven’t reached out to us at all, even if they may have no obligation to. Yes I have Schwab as well, and they are still showing the shares at no value.
Tom, but why nothing from them on our shares? It's been 2.5 years now. You're speaking very capably on the prospects of the company, and yes I agree, it's a high-risk play for us. But what leads you to believe that we will get our shares back, so that we can actually participate in their prospects and, as part of that, speculate about the company etc. on boards like this, as normal shareholders would get to do?
Good insights there Tom. Sadly, 2.5 years later, we still don't have an answer. I guess you could say it's blowin in the wind. ;)
Tom, sounds promising indeed. Thanks as always for your thoughts on all this.
Tom, I like your thinking here, a sound blueprint to get things going again. Thanks as always for your insights.
And of course 2.5 years since the SEC revoked the registration, on 10/13/20. Not a peep about the status of our shares.
I am impressed with the level of detail in their filing. Other companies of similar ilk will give short shrift to these kinds of things and/or pile on the BS. As you’ve said, Vitro do appear to have a promising business here, with treatments that could really make a difference. Experimental therapies, for which animal testing is no longer required, especially could lead to significant breakthroughs.
I too skimmed it and I see there are 3,200 of us unfortunates:
As of January 23, 2023, we had 115,160,180 shares of common stock outstanding, held of record by approximately 3,200 stockholders. There were no shares of preferred stock outstanding.
Under a section captioned "Risks Related to Ownership of Our Common Stock":
Our principal stockholders and management, including our former Chief Executive Officer in particular, own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval;
There currently exists no public trading market for our common stock and you may not be able to sell your shares of common stock if an active trading market does not develop;
You'd think the upcoming annual report would shed some light on all of this. Hard to believe they could ignore it there. At least put it in a footnote :)
Anyone going to be in Utah?
Thanks Tom. I've never heard of this kind of scenario. I see, so if $17M isn't sufficient for a standalone IPO, then yes it seems the legacies would have to come into play. Keeping my fingers crossed, first, that it will actually play out this way, and second, that Schwab can turn it around correctly (I know you have them as well, we'll have to compare notes). The SEC revoked the registration on 10/13/20. Hard to believe that we've been frozen out of our shares - and our money - for so long.
Tom, thanks for the heads up. Seems like something is going to happen soon.
But wouldn't they do the IPO using a different symbol, say VDGO? I guess I don't understand the use of an IPO here if they are going to revive the legacy stock. Raises for existing tickers are typically done through taking on debt or dilution.
Further dilution, another 13M shares, without explanation. Now over 400M outstanding. FFS
Working with the FDA instead of around it. Key distinction. I think we have a good shot at legitimacy here in the US with our novel therapies, given that our treatments have shown so much promise, bolstered by, as you say, the offshore data. Great news on Zamora. Thanks for the update and insights, as always.
Tom, thanks, I do see progress here. A good thing!
Fantastic, thanks. Looking forward to seeing what you find there.
Tom, great finds, this is very encouraging. Thanks for your insights!
Yes, as you say, just a simple update on the status of our shares -- "everything is on track", "we're working on it" - would be real helpful. That's what concerns me. If it were me, I'd want to do everything I could to keep my shareholders apprised and assuage their concerns. Don't know how they could be so completely neglecting this kind of communication, if everything were on the up and up. That more than anything is what gives me pause.
That's an interesting take Tom. It does make sense, especially after events like this. https://www.thepharmaletter.com/article/talaris-tanks-after-patient-death-in-phase-iii-trial. Of course for the last two plus years, we've been relegated to mere spectator status, as we see these developments unfold from the outside looking in, in spite of being a bona fide shareholder, at least on paper.
I've been in this for years as well, with a breakeven point of 2.4¢. Our market cap is now a miniscule $2.2M. That is tiny for a company with this kind of opportunity. “Assuming a 10% - 50% replacement rate for graphite, the total potential demand for silicon-derived halloysite could be 875 million lbs. - 4 billion lbs. annually by 2030.”
Yep lowest volume today in the last few weeks. Only about $6,000 traded.
Yep lowest volume today in the last few weeks. Only about $6,000 traded.
I'm just surprised that a holder (be it the IR firm or someone else) would just dump it all at once like that. Why not sell, say, 500,000 shares at a time, with limit orders, over the course of a day or two?
Note that these figures are annual: “Assuming a 10% - 50% replacement rate for graphite, the total potential demand for silicon-derived halloysite could be 875 million lbs. - 4 billion lbs. annually by 2030.”
What is ASCM?
Note the “annually”: “Assuming a 10% - 50% replacement rate for graphite, the total potential demand for silicon-derived halloysite could be 875 million lbs. - 4 billion lbs. annually by 2030.”
Tom, yes, the fact that they are a going concern and have some irons in the fire is encouraging, especially given that it can be very difficult for biopharma companies that need to pass muster with regulators and meanwhile don't have an established revenue stream, to get off the ground.
Nice find Tom. It's significant that, as you've already noted, they are continuing to operate in spite of the delisting. If successful, this and other initiatives could lead to big things.
The word is getting out. Now that they've stopped diluting it, the stock is now free to find its natural level.
$AMNL GOING TO BE A MONSTER LITHIUM PLAY. PAY ATTENTION FOLKS 🧐https://t.co/JmiUQwIWn0
— BerkshireCapitalGrp (@BerkshireCapGrp) September 28, 2022
Much appreciated Tom. Yes I would certainly think they'd want to get this done ASAP, while realizing that these things aren't done at the drop of a hat. Lots of moving parts. Will be interesting to see how this unfolds.
Nice analysis there Tom. I read it with great interest, and I think you're onto something. What's your sense of the timing here? That is, when we can finally get the new shares, if that's indeed what happens (and assuming our broker can be persuaded to figure out the logistics LOL).
Yes but at least there hasn't been any dilution for a while. That more than anything has been putting downward pressure on the stock. The iron oxide sale enabled us to put some things in the rear view mirror. Let's hope that the opportunities set out in the update can indeed yield concrete results.
Interesting, thanks, that's very helpful.
Wow excellent detective work! Let's hope Schwab and other brokers can handle this the right way.
Tom, thanks for all the info. I have Schwab as well. My question is, where do you see that our legacy shares will be honored at all when this IPO happens? Apologies if I didn't catch this before.
Another 18M shares issued. Restricted. Likely it was this:
(f) AMI agreed to issue 17,777,777 restricted shares of common stock under Rule 144 of the Securities Act to a mining services contractor as part of a settlement agreement entered into in March 2022 to accelerate the resolution of the disputed liability and facilitate the closing of the Four Agreements.
Thanks for your thoughts Tom, as always. I find your insights very helpful in trying to make sense of a situation that will have been going on for two years in September. Based on their lateness last time, I'd agree that October would be a reasonable time frame. But a business update alone wouldn't be enough. They need to finally address the delisting head on and give a time frame of when trading can be expected to start up again.