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I have seen more pumping scams than I can count, and this isn't one of them. Do you really think a company like Ultragenyx is stupid enough to put $40 million into a pumping scam?
This keeps moving up slowly but surely - I think this has some of the best long-term prospects in small cap biopharma.
Nice movement today - hopefully we will finally break out of the under sixes for good! It puzzles me why this has stayed under six - in theory this should be much higher with the size of its potential market and the strong likelihood of FDA approval in late April.
Nice jump today - up almost 8%! Still a ways to go to my basis of $3.24 per share, but the share price recovery seems to be in progress.
Wow - nice jump today - up 17%! It's still a long way to my basis of $2.98 per share, but something is afoot here with the kind of volume we saw today.
Thanks very much. I figure that they must be far more informed than I am if they're willing to put up $5.11 per share for $40 million of stock. I'll be putting my available investment capital here for the foreseeable future - I have a good feeling about this company.
They'll need to sell more shares as time goes on, but that's because they have significant needs to fund all the areas of the business that have great potential. I think these people know what they're doing, and they have heavyweight backing. I think the stock price will be much higher in five years than where it is now, and I'm willing to hold long to see how they will develop the business.
Hey georgejjl,
I just started a board for SIOX to reflect the symbol change from AXGT if you want to migrate over to it. Your contributions sound as though they would be valuable, as you seem to know something about what's going on with the company, probably much more than I do.
Nice jump today and up over 50% from its low. Let's hope Michael Amoroso can do something here with the assets and the pipeline. He's certainly got the background to be able to bring it forward.
I'm back to some extent now. I'm into small cap biopharma stocks now - I think SLDB is worth your time if you're interested.
So am I. This is THE company I have chosen in which to put my investment dollars that I feel is both a high-growth situation and one in which I am certain not to lose money.
46,101,794 shares plus the 7,825,797 shares they sold to Ultragenyx for $40 million plus the 6,302,632 shares they sold in their ATM offering for $23,209,000 equals 60,230,223 shares, with the unaccounted for 219,118 shares probably going for stock compensation to the executives. Thus, they received $63,209,000 for the 14,128,429 shares issued above, or an average of 4.47 per share. If you call that dumping, you haven't been playing this game very long.
I'm still here and checking in periodically. The last conversation I had with Gil was a couple of months ago, and I told him I'd call him sometime in November to see how things are. The story's still the same - they now have plans to finance and buy five of some kind of medical machine, which I think they call hyperbaric something or other, and put them into service scanning people. Economically speaking, I suppose I would say that if you have gains against which you could offset the losses and you think that the tax benefit resulting from selling the GSI shares would be greater than what you could realize out of the value of whatever conversion ratio they will apply to the shares of GSI being converted into shares of the new company, which I can't imagine will be very high considering that external parties to the old GSI will largely govern the determination of that percentage, then sell the GSI shares and realize the tax benefit. As you may be able to tell, I've emotionally moved on and will consider anything I get out of this whole sorry situation to be gravy.
For anyone who's still around, I talked with Gil on Friday for the first time since mid-May. He has relocated to Chicago to concentrate on developing the business, the focus of which is on the hyperbaric industry and the acquisition of related machines and their operations related to patients who are examined or treated by them (I'm not clear on what the machines do or how they do it). Gil says that they have begun to receive funding to acquire the machines, and that further funding and the execution of their business plan will result in their becoming a leader in the industry. He sounds quite energized, and reiterated his plan to give the old GSI shareholders a stake in the new business based upon a share exchange ratio that will be developed. That's all I know for now - I'll keep you updated as I hear more.
No problem, double - you've described my current feelings pretty well.
I would assume the receivable factoring business is no more and the hyperbaric chamber machines will be the main area of business. I imagine Wintergreen is some sort of partnership set up which will somehow acquire a publicly-traded shell into which to roll the company's operations. To be honest, double, I don't call Gil that much any more - maybe every couple of months, and I'm no longer that connected into what the company is doing. After almost seven years with relatively little having happened and whatever is happening proceeding at a glacial level, I've really kind of lost interest, currently viewing anything that I might get as a return on everything I've invested in money and time seeming like a windfall to me.
Never,
I talk with him periodically, and the results of the most recent conversation, which was about a month ago, were that he says he now has funding to be able to begin to buy the first of what are five machines that do some sort of medical evaluation and testing the nature of which I don't fully understand, which throw off strong cash flow and will re-energize (if you want to say that they ever were energized) the company's operations. The only problem with that scenario, if it ever does fully materialize, is that the funding comes from parties developed by the guy who is now the CEO and President of the company, who will obviously try to keep as much of the company for himself and his partners as he can, and give as little a share to the GSI shareholders as Gil will let him, for whatever control Gil has over the situation. In summation, I don't expect a very large share of the reorganized company to come to us, if the glacial development of all of this ever does eventuate.
Double,
I have to admit that after almost seven years even I have gotten weary of the glacial progress (or lack thereof) here, and I haven't called Gil in over two months now. I'll try to call him later this week to see what's going on. In reality, I wouldn't expect that we will get a very high percentage of the new entity, as the guy who's going to be running the company and is responsible for bringing in the funding only has whatever incentive to satisfy the current shareholders that Gil is able to bring to bear, and I don't know how much weight that will carry.
I did get two calls on my voice mail at work from Gil this week, so I can report that he is still alive, but these are the busiest two weeks of my year job-wise, so I haven't had the chance to call him back. I'll call him early this coming week to see what is going on.
Considering Gil's age, I hope that's not true in a literal sense.
I don't know - I haven't talked wtih Gil since just before the New Year. Maybe I'll call him this coming week to see if anything remotely resembling activity is going on.
Stil breathing. I haven't talked with Gil in over a month - I should call him and see what is going on. Even I get somewhat disillusioned and bored with the apparent lack of progress after six and a half years. Maybe I should become involved with some of your 420 stocks - at least I could hope for a dividend in the form of some product!
Double,
I hate to be vague, both because I don't want to disclose too much of what I understand is happening and because I'm not totally clear as to what the nature of the revenue will be, but my impression is that the source of revenue will be not tangible goods, but will instead be the medical services related to their operation.
Double,
You do a good job on keeping up with the company, and know more than probably anyone else here. To address your points, Gil keeps trying because GSI is the vehicle through which he desires to leave a legacy to his grandchildren, and that is why, besides his irrepressibly optimistic nature which frequently causes him to make overly optimistic statements which haven't historically panned out, he continues to devote his life to its development.
Without divulging too many details, hyperbaric is the niche which offers the best potential for GSI's development, and from what I am told very recently, its development is moving along well, with agreements related to its funding in process, which will lead to the acquisition of significant assets in that industry along with the requisite management talent to properly deploy them.
After that happens, a shell will be acquired to take the new company public, and the old GSI will be merged in with it. Of course, the question is "what piece of the new company will the old GSI shareholders receive"? As always, with the Golden Rule of Business (they that have the gold rule), the funders and related outside parties will get the lion's share, and the current shareholders will be left with a minority position.
Obviously, as Gil and Sally have the largest percentages of the shares of the old GSI, they will want to maximize that position, and despite Gil's frequent vilification on this board, he feels bad for all the shareholders and their losses and wants to make things as right as possible for them, and the people involved with funding the company understand that and are to some degree sympathetic with that desire. However, they are also businessmen, and although I have absolutely no idea as to what that minority position might be, I would say that in excess of 10 percent of the new company's shares would be a major coup for us.
I am reposting below what I posted when I posted last in July, as the situation has not changed. The company still exists, and Gil and external parties are working hard to achieve the company's objectives. I expect that capitalization of the new company will occur within the remainder of this calendar year.
The company is progressing slowly, and is buying receivables as it gets funding, which has happened to a certain extent over the past six months. There is no shortage of projects to be funded, and the company will develop at the speed at which capital is received and those projects can be converted into purchased receivables. Gil is cognizant of the shareholders' pain, and will do his best to ensure that the GSI shareholders will get as big a piece of the pie as possible as the new company is set up and capitalized, with the obvious constraint being that the people who provide the company with funding will want the lion's share of the company.
And yes, double, he has been left uncompensated. Actually, I probably am owed about $1,000 for the several trips I have made down to my old home state to see Gil over the past five years for which I never submitted expense reports for reimbursement. I do expect to receive compensation for my efforts in the form of shares of the new company when the happy day arrives that the new company is set up and trading. And no, I don't know the time frame under which that happy day will eventuate, but it is being worked toward.
Jersey is still here and is not going away. The company is progressing slowly, and is buying receivables as it gets funding, which has happened to a certain extent over the past six months. There is no shortage of projects to be funded, and the company will develop at the speed at which capital is received and those projects can be converted into purchased receivables. Gil is cognizant of the shareholders' pain, and will do his best to ensure that the GSI shareholders will get as big a piece of the pie as possible as the new company is set up and capitalized, with the obvious constraint being that the people who provide the company with funding will want the lion's share of the company.
I can only say that Gil's efforts have been consistently serious and sufficient over that period, but most importantly, I believe that they have now finally been effective.
I know. Yesterday I communicated with the third party who is helping to drive this forward, so I know there is development occurring, but I know it is hard to believe when there's only hearsay evidence from me and it's been so long from when we originally invested that we've been here without much development having occurred.
Stoc,
They will materialize. Things are progressing well now, and Gil has told me that all current GSI shareholders will be included as holders in the new entity under which the operations will be placed and will trade publicly. I don't know the exchange ratio or percentage of the new entity which will be held by the current GSI shareholders, but Gil intends to treat everyone as fairly as possible under the constraints which will inevitably be imposed by the investors who are ponying up the money to get this thing moving forward. I'm sure it will at least to some extent involve a derivation of the old Golden Rule - they that have the gold rule.
I am more confident than I have ever been that the company will move forward. What I don't know and won't even guess at is what piece of the new company will be owned by the current GSI shareholders. It's obvious that without investors to pony up money to buy receivables the company cannot move forward. There are plenty of receivables waiting to be bought. The problem has always been that there has been very limited investment capital available with which to buy them. I believe that the company finally has access to the capital necessary to enable it to grow significantly. The question is, at what price? I don't have the answer to that question.
Trave,
You post resonates with me, as I have 1,151,200 shares that are essentially in the same position as yours. I have forwarded your post to Gil and Sally, and will pass along their response to my inquiry to them as to how the current shares will be treated in the process of establishing the new company if they tell me I can post it. I can only post information that they tell me can be posted, as the process of bringing the company forward is sensitive, and I am restricted as to what I can post by the various parties involved.
To everyone else, the process is going forward, progress is being made, albeit slowly, and Gil and Sally are working extremely hard to move the company forward. I believe that the company will move forward, as the parties involved are real and have the potential to fund the company and strongly develop its business model, which has great potential when funding is received, as the backlog of potential business is quite substantial and only requires funding to bring to fruition.
Double,
I have no idea. All I know is that Gil is continually working to move the company forward, and that he is very cognizant that the shareholders of GSI, whether it is currently legally an active corporation or not, deserve to be rewarded for their patience and long suffering, and that he will do his best to make sure that that is done.
All I can say is I wouldn't do it if I were you.
Let's not discuss how the Patriots are looking tonight.
The way they looked today I'd agree with you!
Double,
To be honest, I don't think so. I call Gil at his cell phone, but I'm not at liberty to give that number out here.
Ski,
Very possibly, but I hope we don't draw the Giants again!
Ski,
I believe solid progress is being made in the development of the company, and truly believe that 2013 will be rewarding for GSI's patient shareholders. I think the old proverb of slow and steady wins the race will be applicable here, although I am aware that the race has been run at a tortoise-like and frustrating pace.
I'm still out here. Gil is still alive. Thing are moving forward, albeit at a much slower pace than I would like, but they are gradually and consistently moving forward.