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XKEM not making statements directly related to the pending litigation, yes I understand that. But refusing to make statements simply related to current operational aspects of the company? No, I don't understand that. For example, I don't see how PR'ing something as simple as an update on the progress of HMF would be damaging to their case. It makes it seem as if there are factors other than litigation going on here that are causing this silence.
Who wants to be mislead? I just want the truth.
Yeah, I think I've finally decided to average down a bit. Just how much I'll have to figure out next week. Have a nice weekend, and stay away from the Malls. Just got back and it was hell!
Is this board broke? I mean the board itself and not necessarily our pocketbooks which is probably true also. I've never seen this board go so long without a post.
No one outside of the company has accurate numbers on the shares outstanding. I believe that the last reported was 1.6 billion outstanding with 3.5 billion authorized. You'll probably have to sue the company to get up to date numbers as management basically hasn't spoken to their shareholders since last Spring. If you want to invest, you'll have to base that decision on Nicosan's potential rather than numbers. GL.
Nice to see someone finally speak up for the company, even if it is primarily directed at the African public. Hopefully this is the beginning of something real. I suspect that enough has gone on behind the scenes in all of these silent months for the company to shoot out a PR every day for a month. I'm ready for some early Christmas presents!
Pandey has no case either way from what I can tell. He, and the company, would be foolish not to reach some kind of a settlement ASAP. Pandey because he has no case, and the company because they want to put this behind them and move on. Of course this is all dependent on the company wanting to put this behind them and actually build a company. That's where my suspicions begin.
IF Pandey only has a 1/3 interest in India, then he has no controlling interest in India. Again, pretty cut and dried.
I am aware that there is a potential market for SC drugs in India, but that still doesn't answer my basic question. Either Xechem International clearly has the right of control to all assets that were transferred to Xechem India, or Pandey simply stole any assets that he transferred to a subsidiary in which Xechem International has no ownership interest. It's sounds very cut and dried either way. If that's not correct, please enlighten me.
But if xkem owns 2/3 as Pandy claims, it would only be a matter of a simple court proceeding for xkem to reclaim what visible assets there are in India. It wouldn't require a major civil lawsuit to control what xkem supposedly owns. India is obviously still a bit backward compared to the West, but they have made major strides in recent years. I still don't get how Pandey could possibly think that he could get away with diverting AND controlling xkem's seven million. It makes no sense unless Pandey has the seven mill. hidden under his mattress. If that's the case, then there has to be a bank-based audit trail to show that Pandey grabbed the cash and split. In that scenario, Pandey should be charged criminally immediately.
How could it be his own plant if he is claiming that it is 2/3 owned by xkem. If it's not owned by xkem period, then he cleary stole the money from xkem. Either way he's screwed, and it's hard to believe that anyone could be that dumb. That's the confusing part.
I understand that, but what could they justify spending seven million on for a subsidiary that's basically a shell with no real operations?
That's ONE of my major questions. If Pandey ran through 7 million dollars, what did he spend it on? If he spent it on tangible assets, what could he justify spending it on for the Indian subsidiary, and where the hell are these assets? I don't think he spent it on luxurious travel in this short a period of time. I kinda think he would have a hard time justifying blowing it in a casino. Seven million is big bucks for this company.
I don't know. Just BSing. Maybe it would make 'em think. On the other hand it might give 'em too much warning. LOL.
Email the article to Swift/Basu!eom
Well, I guess we've gone from next week to next half a year. Better than next decade I guess. LOL. Probably doesn't matter much anyhow, because the way the share price is going, pretty soon I don't think I'll be able to buy much more with my sales proceeds than a lunch special at Taco Cabana.
You talking the asset value of the company or the stock price?
I hope your right as far as Swift's ethics are concerned, and I too believe that Nicosan is not selling very well at the moment for one reason or another, but I still don't get the complete silence in regard to virtually EVERYTHING related to this company. Oh well for now. You guys have a nice weekend. I'm outta here.
If he PR'd that kind of a lie to investors then he is definitely looking at more than a civil action.
Sounds logical as far as the 7 mill. is concerned, but I see no reason why they can't PR operational aspects of what the hell is going on in Nigeria. Gagging the company in areas directly related to the Pandey situation is one thing, but acting as if the company doesn't even exist is another.
I agree that the silence has been calculated, but I have no way of knowing about whether it's sinister or not. There is just way too much strange stuff going on behind the scenes here. I haven't given up all hope yet, but I'd really like to know some details on what happened to that seven million. I know that Basu and company are going to make a run at getting their money back one way or another, and I hope it's with a major PR pump in the very near future. If they have no interest in actually building a real company here, I at least hope that they give us bagholders a fighting chance to keep our shirts.
Yeah, I was very hesitant investing in anything related to Nigeria, but the oil wealth of the government, and then the bank loan approvals, started to make me think that all of the problems could be overcome. Certainly doesn't look promising now. Every time I think of seriously averaging down, I backoff before putting in my buy order. If these guys are doing what they appear to be doing, I want to see them locked up! Their silence is worse than deafening.
And I'm supposed to take investment advice from you? LOL!!!!
25% daily haircuts can do that to people.
Right now wouldn't be a bad time for a corporate name change if "Xechem" now has negative connotations in Nigeria. Stupid Pandey created name anyway.
I wouldn't trust Swift to run my lemonade stand. Just what has he done positive in all of these months at the helm? He's nothing but a puppet for Basu in my opinion. What ever happened to that big CEO search anyway? LOL!
About .002 a share apparently.eom
I detected a hint of sarcasm when they referred to it as a miracle drug. I hope that patients and not just sales reps. refer to Nicosan that way.
Whoa! I may be crazy, but something is telling me it's about time to buy. I guess I'll log in to TDA and find out what kind of guts I have.
Quote, volume? tia/eom
If he transferred xkem funds to a company that xkem does not own, then it's pretty clear that would be outright theft. If xkem does own xkem India, management certainly should be able to control what assets they can dig up in their own subsidiary. One of the (many) confusing things to me, is that the seven million was received so recently and that there must be some kind of a decent audit trial to those funds. Pandey is really a fool if he did what some are alleging.
Those have been my thoughts for quite some time. A little time in a Jersey jail may just refresh his memory.
Well if they can't account for the funds then they need some new accountants IMO. The PIPE deal was very recent, and IF those funds have disappeared than there should be more than simply long and drawn out civil action. I'm outta here. You guys and gals have a nice day!
Locking his butt up when he show up for court in Jersey just might refresh his memory.
Where do you get that idea Rambler? I've been in the financial world for many years, and many of the criminals of the late 90's didn't quite get off that easy. Small company or not, fraud, misappropriation, and outright theft at the CEO level generally doesn't get off that easy.
Well, I'm talking specifically about the most recent "BASU" PIPE deal. How the hell can he hide what he did with those funds? We're only talking a few months.
But as CEO, if he cannot account for the funds that the company received through the various PIPE and bank financing deals that this company has utilized over the past few years, he should be filed on criminally. Screw the pussyfooting around and go after the guy! I don't get the slow pace of this thing at all.
If XKEM International owns no part of the alleged Indian subsidiary, then any diversion of funds by Pandey to India would be nothing short of criminal theft! If these funds have disappeared as has been said by many on this board and otherwise, Pandey is toast. Just how dumb is he to be sueing XKEM in Jersey? It's all starting to sound very ridiculous to me.
Who cares? You still own the same sized piece of the same **** pie. It means nothing.