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Leo's fine tuning his corporate update... Since real news doesn't have an effect, maybe he can knock the socks off the pink-sheet world. Get more traders on the buy-side...
Yep, Below a buck it might be... On paper means nothing if you can't deliver a solid PPS performance. Stock doesn't rally on good news, so why should anyone continue to buy shares. Wait until there's a deal done or at this point any.
1.43, time to speak Leo!!! Ship continues to sink lower and lower.
I agree, A RS for the "right reasons" would get them up-listed ASAP... Leo tried the traditional way to up-list, but blew his chance. This stock is firmly in control of manipulators. Prime example: The past several weeks of outstanding news, only to see the PPS continue to drop. Form a partnership, announce a RS with an up-listing and watch the shares rise quickly. Do nothing, see a rally above 2, then a slow drift back to the same range... Need to get above 5 before REAL investors jump on-board...
Amatuer17, Boils down to NO interest in this equity. The shares that trade are off-shore folks, short-trading firms, Aspire, Aruda and an occasional SHer adding. The stock is kept alive by those that continue to profit on the ups/downs... You'll see the stock pop for no reason "with no news" and the opposite with great... The only way to break the trend is to up-list and present a real plan to support the shares... Not a bogus "corporate update" when the stock falls below a certain level...
A more pressing need is to move off the pink-sheets. This is where Leo fumbled away last-year and now he's back to corporate updates... If the last 4 Pr's can't move this stock positive, then don't expect much with a corporate update. Same old CTIX, different year.
No way does CTIX trade with the REAL stock averages... It trades on it's own island surrounded by sharks... Should have done a RS last-year and we'd be way higher in market cap now...
1.46 PPS, Way to go Leo! More exciting promises in emails, so the pressure is on now!!! Eventually a decision will have to be made to do a RS, not going to attract any new investors at penny prices. The past 3 weeks we've seen a positive trial, Rosen case dismissed, K results looming and an email declaring partnership discussions... All this time, the stock continues to trade in-the-toilet...
This is the worst stranglehold I've seen on the shares since I've bought in 4 years ago. Even last-year the stock would rally and hold a few weeks. Going to take a partnership ASAP to move this north... Or, we continue to drift down to 1.20...
I won't be happy until CTIX trades back to pre-Mako days. 2.54 range was the morning of the hit... Besides the PPS drop, the company could not up-list after that. Price recovered twice to 2, but never sustained that level... Leo's mistake was not qualifying to up-list long before Mako. Still, Rosen is the obvious target for recovered costs.
KarinCA, CTIX is not followed enough for any firm to have a response that fast (2 hours). The time-frame is what did Rosen in and they will pay a heavy price. Rosen would be wise to settle at "my guess" 5 million? Any suit would be in the 10 to 20 million range in damages. This is my guess considering Mako was the one pulling the trigger. Now if they can link Kim with Mako, then it's jail-time and much more than 20 million...
Besides Rosen, here are the other 6 firms who piled on after the Moko attack. Even as late as September 23? The PPS could not recover as the lawsuits kept occurring. I would go after them all!!!
Hopefully, Leo can use this info...
SEPT 23 2015
SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Cellceutix Corporation
http://finance.yahoo.com/news/shareholder-alert-rigrodsky-long-p-221200582.html
SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Cellceutix Corporation To Contact Brower Piven Before The Lead Plaintiff Deadline In Class Action Lawsuit
http://finance.yahoo.com/news/shareholder-alert-brower-piven-encourages-192900629.html
SEPT 16 2015
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cellceutix Corporation – CTIX
http://finance.yahoo.com/news/shareholder-alert-pomerantz-law-firm-162400107.html
Sept 15 2015
Harwood Feffer LLP Announces Investigation of Cellceutix Corporation
http://finance.yahoo.com/news/harwood-feffer-llp-announces-investigation-191700238.html
Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against Cellceutix Corporation
http://finance.yahoo.com/news/federman-sherwood-announces-filing-securities-153818633.html
Sept 14 2015
Robbins Arroyo LLP: Cellceutix Corporation (CTIX) Misled Shareholders According to a Recently Filed Class Action
http://finance.yahoo.com/news/robbins-arroyo-llp-cellceutix-corporation-204000620.html
August 6 2015 The Dreadful day!!!!
EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Cellceutix Corporation - CTIX
http://finance.yahoo.com/news/equity-alert-rosen-law-firm-164100382.html
The question is? Who at Rosen follows stocks that closely to issue a lawsuit 2 hours after any SA hit-piece? Cmon, I smell a dirty rat between Mako/Kim... The Rosen PR response was scripted long-before that dreadful morning... The mistake Rosen made was issuing a PR so fast without having Leo respond...
Interesting DD for Leo versus Rosen... Philip Kim (Rosen Attorney) was the 18th person to follow the Mako page on SA... My opinion is that Kim was the mastermind behind the whole Mako attack. From the creation of Mako, to the news agencies being tipped off of the SA hit piece... Notice how current SA articles are never listed as news items (Yahoo)... However, the hit piece (SA) was posted "exact time" and the Rosen response 2 hours later... I clicked on recent followers and scrolled down to find Kim #18. What a shady list of characters listed as Mako followers... Half are related to hedge funds who short... No wonder why the stock can't make headwinds...
http://seekingalpha.com/author/mako-research/followers#
Leo made no reference to go after Rosen... That is why the price dropped... Rosen gets off with a slap on-the-wrist, CTIX losses 100 million of cap-space since... On to the next catalyst to move the stock nowhere...
You're right Bobby, Leo destroyed the PPS last-year, can't blame Mako no more... How long do we have to hold and buy shares before we're rewarded? Eventually, if Leo cannot show progress on the PPS front, then it's over... We're almost at that point now. Everything looks to good to believe, but the main reason we buy shares...
Yep, It's almost like the PPS doesn't exist... After reading CTIX's news releases the past year, you'd expect an Amgen or Merck in-the-makings... Instead, it's another Polymedix.. B has had an effect on CTIX... LOL
The DD report is worth 1.52... All the great things going on amounts to a bottle of soda... The store brand not Coke...
The bigger issue is not SA or Mako, it was the CEO's inability to up-list the stock when he had ample time to do so. They're now trapped on penny-land with their only way off by RS or finding a partner FAST!!! The lower the PPS, the harder finding a partner will be... Hell, why would Pfizer give X amount to partner when they can have the whole piece at discount or scraps... nobody is in a rush to partner with CTIX or they'd have one by now...
Leo is ready to wave the white flag... Hey shorts, you won, I can't say or do anything to attract new investment in my company. The PPS is still below the Mako close from August. That's all anyone needs to know... So, the Mako effect was not the main reason for the decline... It was fumbling an up-listing away when the PPS was firmly above 3 for 5 months...
Leo is all out of options to move the PPS north. He better be on those phones trying to strike any deal... OTCBB will not allow this company to prosper.
A few pennies above the Mako close from last August. So really, 20 press releases later and we're no better off. Exactly why Leo NEEDED to move off the OTCBB at any cost. Now they can play penny tag until the next PR... LOL
Terrible price action today... Volume slightly more than average with a steady decline from the morning highs. A RS or partnership is their only way off the OTCBB. When Leo speaks nobody listens...
What a joke (1.56) up 2 pennies... While Mako cost the stock a dollar per/share... Not up-listing last-year continues to haunt Leo and company...
NotRich, Possibility that a settlement could be reached with Rosen without Leo stating their intentions... Why there was no rush to issuing today's PR. Ashcroft would be wise to consult with such intentions... Just a guess.
Today's PR gave no clue to any counter... Maybe Ashcroft will work a backdoor settlement without smearing Rosen's name? Just a guess on my part...
Leo could have added a little punch to the PR. Going forward, the decision yesterday has enhanced our ability to explore partnerships. We are considering legal action to help regain our costs from this careless lawsuit.
I hope Rosen gets more punishment than a slap on-the-hand? CTIX is
still crippled on the pink-sheets, while Rosen lives another day...
LR, Maybe Leo needed a day to discuss legal action with Sullivan and the best way to present this? Why not make the official PR announcement a dandy? I expect a PR sometime this morning...
Yes, but others did issue PR's asking shareholders to sign-up with them... This is a problem with firms in general... Piling on without knowing the facts....
There was no official news on the Rosen case today. Just mentions on IHUB and an article put out at 2PM... Tomorrow will be a different story... Stock should trade back to pre-hit levels (2.50) in due time. However, the OTCBB market is hard to predict....
Besides Rosen, there were other firms who piled on after the SA hit piece. There were multiple suits that showed up on the news wire the 2 weeks after... CTIX should have the right to go after them all... But Rosen was first to the party...
5 million settlement would be the least I would accept. Ashcroft will come up with a reasonable number to start negotiations with... Rosen would be wise to settle... Could be a suit as high as 100 million in lost market cap... The PPS lost a dollar the day of the hit. Still trades at the same price...
They will sue, Ashcroft would not have defended the case if not for the reward possibilities. 100 million hit on the cap, possibility that an up-ulisting was derailed, pain and suffering for company and shareholders... Stock still at the closing price after the hit. There's no doubt Leo/Ashcroft will counter... Rosen would be wise to settle...
I always thought the plaintiff's sued the wrong party. The target should have been Rosen, not CTIX... SA is not held liable, as they've defended cases like this before...
Philip's Kim's contact info... Everyone should call him tomorrow and congratulate him on another loss... Just looking at the guy makes me cringe.
http://www.rosenlegal.com/attorneys-Phillip-Kim.html
Also, is Rosen liable for shareholder lawsuits as well? I mean, whomever sold after that for a loss?
Stock was as low as 1.52 the day of the attack. So, if CTIX had around 105 million SH outstanding then, the cap hit was 100 million right after the attack. A dollar drop at the low...
http://finance.yahoo.com/q/hp?s=CTIX&a=07&b=6&c=2015&d=07&e=6&f=2015&g=d
About 80 million in lost market cap the day of the hit piece... Still has yet to recover (the stock)... Leo is licking his chops right now...
Also, a partnership might be hinging on a dismissal of the case. Once Leo issues a PR, this will fly...