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No explanation just a joke. This company or so-called one, is hanging on by a string, while the litigation process continues at a snails pace. So in essence, the judge has been more of an enabler for the shorts. The question is, can CTIX continue to raise enough capital trading on-the-pinks? Time is clearly running out on any solution as Leo's strategy has not worked out. Strategy meaning, an up-listing without a RS...
Half a million to defend the Mako hit. Boy, did the shorts finish this company off or what? Now it appears the judge was one of the shorts. LOL
Leo is trapped on the pink-sheets with no way out... Not up-listing last-year has all but finished this investment off...
Oh Leo, how are you going to raise (22 million) over the next 12 months? The equity is almost worthless, so the only other route is partnering... Exactly why a reverse split will have to occur soon or face bankruptcy.
Expenses piling up as legal fees were close to half a million defending the Mako hit. 22 million needed over the next 12 months to keep operations going... How can they dilute this amount with a PPS barely above 1? Can anyone say RS!!!
Requirement for Additional Working Capital
The Company plans to incur expenses of approximately $22 million over the next twelve months, including approximately $17 million for clinical trials. The Company has limited experience with pharmaceutical drug development. As such, the budget estimate may not be accurate. In addition, the actual work to be performed is not known at this time, other than a broad outline, as is normal with any scientific work. As further work is performed, additional work may become necessary or change in plans or workload may occur. Such changes may have an adverse impact on our estimated budget and on our projected timeline of drug development.
The Company will be unable to proceed with its full planned drug development programs, meet its administrative expense requirements, capital costs, or staffing costs without accessing approximately $16 million (as per current management's budgets) of our remaining financing available with Aspire Capital. Management believes that the amounts available from Aspire and under the Company's effective shelf registration statement will be sufficient to fund the Company's operations for the next 12 months.
Comparing CTIX with the S&P 500 is a recipe for disaster. CTIX trades on it's own island that's easily manipulated. It's the riskiest of stocks to own in a down market. Better odds going to the casino. At least, your money is lost much faster. Here, it's continued pain and suffering.
When does Leo do a RS and move off the pinks? His theory of letting the PPS float has produced only negative results. It's all about survival now, can't worry about hurting a few Ihubers who promise to sell with a RS... Is a stock price of 1.10 any better??? How can they dilute shares and maintain enough interest (equity) trading on the pinks?
Aruda's new added ownership is the main reason for the recent decline. He still owns close to 9 percent of the company, which means a slow continued selling of shares... So between Aruda, Aspire, pink/sheets and Rosen the negatives continue to outweigh the positives. The PR barrage that Leo exploits has no lasting effect.
http://www.octafinance.com/warning-cellceutix-corp-optimists-is-your-research-better-than-of-aruda-wayne-o/
This stock lives a life of it's own. Just when you think it's breaking out, it sells off. The failure to up-list continues to haunt this stock more so than Rosen.
The odds of a corporate update just increased. So predictable is Leo, you can bet a PR tomorrow morning. We will not do a RS, even though our stock is worth a candy bar.
Who wants to be the last man holding worthless shares? Leo can take his compounds elsewhere after bankruptcy. Of course, the need of a reverse split will have to happen now.
This line-of-credit (stock price) is on life-support and you believe there's nothing wrong? Fool the investors once at this level, doubt many companies ever recover after a second chance.
A billion dollar dream on paper doesn't always translate into success. What killed this stock was not Mako, but Leo's inability to move off-the-pinks. Mako came along while CTIX was a sitting duck. Stock was already in free-fall from the up-listing failure. Leo is the one responsible for this mess.
1.04 almost a point of no return... Doubt many stocks have ever recovered twice falling below a buck 5 months apart. Of course, Leo will have to do a RS this time around to save face...
1.09, sound the trumpets as the 52 week low (.094) approaches. What a wonderful investment CTIX has become...
Hopefully, those who attended yesterday's conference did not buy shares this morning. Jeez, the shorts know exactly when to kill the hype. Wait until the morning after the event... The past 2 weeks CTIX was holding up well, then bang. Too easily manipulated...
Yes, As the dedicated shareholders drop off one-by-one there's nobody left to buy shares. Why, it's because of the market CTIX trades on. The stock just dropped 10 percent for no reason? Why should anyone invest their hard-earned money on this?
Turn the lights out on CTIX... Too much hype, not enough results. Another conference to promote a sinking ship.
There's no deal or he would have taken one by now. The only reason CTIX is still in business is because the PPS was high enough to support dilution. Time is running out on CTIX regardless of how great everything appears to be on paper. Leo's inability to promote and up-list this company was his downfall. Still waiting on the paper about K? That PR was from October.... LOL
Really? Aspire receives shares at a discount. The one year chart is a straight line down. I doubt Aspire has not sold shares of CTIX or they would not be in business. Aspire makes money by lending shares and in-turn selling those shares at profit. Especially, investments at higher risk as they do not want to be stuck holding the bag.
You are correct, letting this investment float on-the-pinks was Leo's worst decision. The buying interest is limited, while the sellers gain strength. Strength due to uncertainty, risk, PPS level and the slow progress of trials. Some hoped a new year would change things, but it's another year, another biotech conference and all the same questions as before.
bradfordbros, So you believe Aspire is lending CTIX millions of dollars and haven't sold a share? Aspire receives shares at discount then sells to the open market. That's how they make money... This cycle works as long as there's interest/volume in the stock. However, eventually the well dries up...
Sure it does, how does CTIX raise capital? By diluting shares into the open market. If CTIX were a private company they'd be bankrupt 5 years ago. The only thing keeping this company afloat are the few investors who continue to buy shares. Judging by the PPS, the selling interest is clearly in charge. The only way to reverse course is to do a RS (up-list) or find a partner. This stock will not recover from another sub-dollar cycle.
Even yesterday's conference, DR J makes a reference of a billion dollar market cap. Are the shareholders down "80 percent" the past "13 months" missing something? This is a typical OTCBB pumping ploy to draw investment. Without the suckers buying (including myself), they'd be out of business 2 years ago.
They're begging alright. From 4.90 down to a dollar... However, this is the greatest investment nobody knows about. LOL
Smart money left this stock many months ago. Why hold up funds in a sinking ship when there's plenty of time to buy back later if A,B or C work out. There's greater risk to bankruptcy than this ever succeeding at-this-point. Leo can take his compounds elsewhere, while the shareholders lose everything. Not up-listing last-year was the biggest mistake in Leo's career as pretend CEO.
This stock is nothing more than a line-of-credit for Leo. So he can play "pretend" CEO predicting "billion dollar" market caps. There's nobody interested in this stock because of the market it trades on and the continuing risk with the lawsuit. Again, there will be a need to do a RS so they can dilute shares. Any dilution now will send this firmly below 1... Good luck getting out of that hole...
Glad 2015 tax selling has ended? Down another 15 percent in 2016 on top of last years 70. Great job Leo!!!
Tax selling for 2016 continues... So much for the new year...
Lousy December and 2015 for CTIX. Yes, everything appears to be great on paper, but heading into 2016 all the same issues continue... Aruda, Rosen, pink sheets and a terrible PPS. Leo issued how PR's in 2015?
Wonder what Apsire thinks of their investment in CTIX this year? Not so easy raising capital next year. Leo will have to form a strategy to get off the pinks. A RS will have to be debated if the price doesn't rise on good news again.
Leo must be on vacation, no PR's in 2 weeks... He's scripting them now for (2016) as the price continues to drop. What a screw-up for not up-listing off-the-pinks... Now, he's trapped in penny land market.
The failure to up-list drove the price down to the mid 2's. Mako came along and accelerated the downside. There were 2 rallies in 2015, the bounce above 3 in mid summer and the rebound from 90 cents back above 2... The rest of 2015 was down she goes... Lets hope for a reversal soon!!!
CTIX closed at 4.18 last December 22. 30 press releases later the stock is down 70 percent. Mostly because of a failure to up-list... Some here don't care about the PPS, the only reason it's not lower.
Dec 31, 2014 4.31 4.42 4.28 4.39 227,500 4.39
Dec 30, 2014 4.21 4.37 4.20 4.35 395,800 4.35
Dec 29, 2014 4.29 4.29 4.10 4.20 386,600 4.20
Dec 26, 2014 4.30 4.37 4.20 4.23 171,500 4.23
Dec 24, 2014 4.16 4.39 4.13 4.29 149,400 4.29
Dec 23, 2014 4.23 4.23 3.93 4.19 390,900 4.19
Dec 22, 2014 4.41 4.41 4.01 4.18 800,500 4.18
Dec 19, 2014 4.30 4.42 4.18 4.38 606,000 4.38
Why is the stock at 1.35 then? There's been companies with promise who have failed on the stock market. There's no interest here because of the price, market (pinks) and credibility regarding management. Say what you want, Leo handled the up-lisitng process terribly. That could be the difference in having to issue a RS, rather than up-listing the correct way. If this stock goes sub-dollar again you can be assured a RS will happen in order to raise capital. Costs are going to rise, who is going to buy shares at their current situation? I don't mean the 30 shareholders, but new investors...
The big problem here are the shares trading on the pinks, manipulated by a few individuals who control the price. Regardless of how great everything appears to be on paper, this investment is as risky as it gets and by not up-listing has caused zero outside interest into this investment. Just floats up and down (mostly down) with no reason... Why should anyone risk their money in this until they're off the pink sheets? 6 positive PR's the past several weeks with a SH meeting and the stock is down 30 percent???
Really, So why does any insider add shares by your theory? Most here would feel confident if management stepped up to-the-plate and bought shares. Help the cause out!!! I'm tired of people suggesting he saved the company and so on... He draws a nice salary currently while the shareholders have huge losses this year. The former CEO was ousted back in 2012 which cost them a million. The Leo supporters here fail to bring that up.
They can fight disease with or without the shareholders. All we are is a financial tool so the company can raise money. However, eventually you must show some kind of reward to the shareholders in the form of gains. Or, face bankruptcy when the PPS is not attractive enough to support the cause. Leo and Menon can join another biotech at that point and guess who's left with the nothing? Yes, the shareholders...
Leo and Menon both need to buy shares in a filing. That would show confidence in this investment at these depressed levels. Wish someone would have asked this question at the meeting... Some here mentioned these guys as both being millionaires...
No fight left in this stock. Shame Leo couldn't spark a rally at year's end to counter the tax sellers and short manipulation. The only question now is if a dollar holds again? Eventually, there won't be a rebound and the company won't be able to draw enough interest to support dilution. That's the risk of staying on the pinks.