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.
I very much doubt that "Anton", but I have better things to do with my time than argue with you. I'd suggest you sell, but you already have. So I really don't know why you go on, you must be really bitter that you lost some money. I'm not here to defend the company, continue to bash as much as you want, don't think anything anyone says here matters anyway. I'm going on a nice long vacation, a benefit of being wealthy. I will check back in the new year.
Since it doesn't look like you will go away, do you mind if I ask your name? It has always felt strange to converse with someone whose name is that of a movie villain.
Presumably you knew this before you sold, while you were VERY bullish. Interesting to see how your position has affected your opinion.
Not only are they working on contingency, but the securities purchase agreement specified that the losing party is responsible for all legal fees. So the arbitration will not cost Nemus anything.
I don't see a problem, always good to have a voice of reason.
Having said that, Elsohly developed the transmucosal patch as a successor to the suppository, so I have no idea why Nemus is developing the suppository at all. I've said it before, but I believe it's something they should abandon. A patch or even buccal pill would be significantly more lucrative.
I said old news, but that I didn't know it was with Insys - if that's true. Their fentanyl product Subsys, which I believe is used for cancer pain, is a sublingual spray. It would make sense that they would use the same delivery method for Syndros. Again, patient acceptance for something you spray under your tongue is going to be significantly greater than something you shove up your ass.
Old news. I posted that there was a previous deal that fell through, months ago, though I didn't know it was with Insys. They probably thought sublingual administration would have higher patient acceptance than a suppository which is certainly true. I also asked why he didn't sign a deal with Mallinckrodt since he already had a relationship with them. They probably weren't interested in a suppository.
What does your good friend Vinpat have to do with this? You sold, why not bugger off? Are you that bitter? Move on already!
Why didn't you report them to a regulatory authority, Marc?
Is "fake news" something people call other people? You're all over the place. What does that have to do with the officer of the shell company whom I said was irrelevant? You've sold, maybe you should move on.
What?
The officer of the shell is irrelevant, he's just trying to stir the pot.
Not his first weird post. I take it you're not his "really good friend" anymore?
It's arbitration, not litigation. But I agree they need to prioritize and file an IND.
Agreed.
the market is often irrational. Anyone who knows how to calculate a rNPV would know how much this company should be trading at. I'm a bit suprised that a major investor hasn't placed a large bid wall to offer some support, now that shares are being sold at a loss. The stock didn't sell-off until Nemus officially announced that SB Securities hadn't paid - something anyone paying attention already knew, so I don't read much into it at all. It was a mess, but it's in the past.
Not sure what Schneider's game is, but that doesn't mean Nemus is dead. If Nemus decides to take Schneider Finance to arbitration how would Schneider win? There are no delay tactics. Schneider would be responsible for all legal fees as well. The 'guaranty' and misrepresentation likely make the entire organisation liable. John Corky Severson and Philippe Ayme-Jouve could even be personally liable.
It probably is residential. I'm not in disagreement that it's a shady organisation, but we've invested in Nemus - not Schneider.
Nevertheless, the share purchase agreement was with an American subsidiary. The 'guaranty' doesn't absolve them of their contractual obligation, which may go to arbitration.
It's a thinly traded stock, and I guess someone wanted out.
The next raise will be modest, they just need enough stay afloat. The SB deal was unfortunate but nothing else has changed.
It was probably just a typo, they meant to say FCA.
Maybe they don't, but wouldn't a licence mean they were insured? If Schneider misrepresented themselves in the guaranty by saying they were licensed when they weren't, then it's fraud.
It's just called the Financial Conduct Authority. That reference number (SB Securities Ltd.) for whatever reason is no longer registered, but Schneider Brothers & Partners Ltd. is - reference 593730.
The contract breach with Schneider Finance (Newport) would be brought to arbitration on its own. The guaranty with SB Securities is actionable for breach as well, if necessary, and if they are unlicensed it would constitute fraud and I would think there could be criminal charges.
I don't know what's going on with Schneider. They've been a pain in the ass, but what's hurting is the lack of support. Nemus is more than just the Schneider deal.
Not a surprise, but the guaranty doesn't really matter.
There was an arbitration clause in the share purchase agreement, so I don't think they'll need to litigate. I do wonder why neither Schneider Finance (Newport) or Schneider Securities paid. The company was sketchy from the get go, especially after reading about the SunGame deal. I noticed John "Corky" Severson is now involved with a cryptocurrency, and lo and behold Schneider is providing a supposed guaranty.
It wouldn't take much at all to bring the sp back into the low .20s. I don't think Nemus is looking for anywhere close to $20mm this time around, so the dilution shouldn't be of much concern.
You're right, they have an arbitration clause in the share purchase agreement. Losing party is also responsible for arbitration and legal fees.
I believe Schneider Brothers would be legally obligated to fulfill the terms of the contract. The case seems like a slam dunk. Perhaps the threat of legal action will encourage SB to oblige, or maybe they will re-negotiate a smaller financing. If this goes to court I can't see anyone ever doing a deal with SB again.
96.5% of basic shares didn't trade today, so not the end of the world. Thinly traded, stop losses, panic selling. I'm sure they can put together a small financing in short order to keep the lights on. Mgmt has got to get their $hit together though.
More important now than ever to raise what they need, focus, reduce costs, and start building shareholder value.
Of course, I didn't mean complete another raise before the default, but have a contingency. Then they could have announced a raise before talking about a lawsuit (which was obviously a bad idea). The market doesn't like lawsuits or uncertainty.
I'm too committed to sell. It's hard to believe they're taking legal action with no money. How did mgmt not think that would have a serious affect on sp? They didn't even look for money elsewhere, so what have they been doing?
Even if Nemus takes legal action, they will still need to raise money elsewhere until the lawsuit is resolved, and may even be responsible for their own expenses unless it was specified in their agreement with Schneider. It seems like an open and shut case, but how long will it take and how much will it cost? If they have to raise money anyway, then why bother with Schneider?
Legal action will take time, and Nemus is practically broke. They'll have to make an announcement of some kind sooner or later. They should have had alternative financing lined up. It's possible they're finalising another deal and will announce once it's official.
No surprise. Hopefully they'll announce an alternative financing by Wednesday.
My manufacturing? What are you talking about?
Murphy said they would aggressively look at uplisting with the $20mm raise, which would necessitate a reverse split. Not sure why you're arguing.
The financing would add 67mm shares.
You sound like a noob. They want to uplist if the $20mm closes, so they would have to reverse split to get to $4/share.
Dilution is one of the biggest risks in investing in microcaps, so it's important they raise what they need.