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KarinCA, Ronald Trust was brought in to evaluate these designations and explore all possibilities. Any kind of financial reward would probably rid the need of another Aspire deal.
Shorts trying to hold this back. New road block appears to be 1.80. When this crumbles (maybe today) next stop 2 bucks.
There's nothing anyone can do but make sure you buy/sell using limit orders. If you look at the daily stats, every company has a distorted amount of short sales. The stock will rise/fall on trial results, not too concerned about naked shorts. Leo helps fuel this topic by constant complaining. An enabler of naked shorting is trading on-the-pinks. Leo should be mad at himself for not up-listing when he had a chance. Posting on Facebook about short traders appears desperate to me.
AlanC, The daily stats are misleading. Those figures are manipulated by market makers covering their positions. Not an actual short sale. If you look at the daily stats from every company, it's the same type of pattern. The bi-weekly stats are more closely watched in the financial world. Monday is the next update...
Short Sale Volume Reporting’s are deceiving.
The daily short interest report from FINRA is as widely misinterpreted as any report ever put out. Yet, once a few basics are understood, it becomes very logical. The huge short volume seen in the daily reports are almost instantaneously covered; within a few milliseconds or a few hours at worst. The best explanation of this report, that I've ever seen, was posted by "Dave Patch" of "Investigatethesec.com."
Posted by: patchman Date: Wednesday, March 03, 2010 6:31:31 PM
In reply to: fourkids_9pets who wrote msg# 648 Post # of 951
Short Sale Volume Reporting’s are deceiving.
I spoke to FINRA today and found out some very interesting things that until now I did not fully understand. I knew there was something wrong with this transparency of information but was not 100% sure what it was. I think I have my answer and it was enlightening.
I was first directed to the Notice to Members memo dated 9/29/2009
www.finra.org/Industry/Regulation/Notices/2009/P120045
The individual I spoke with wanted to make clear that to maintain proper trade volume reporting accuracy, a trade with multiple legs in the trade would only be reported once in the volume reports. The example given would be.
Investor A is long 100 shares and wants to sell. They enter the order through their broker that is routed to a market maker. That market maker will go out and sell the stock into the market before they have bought the stock from you/your broker to close out their account. They do not take possession first as there is no guarantee they can sell the order into the market. By this Notice, the actual sale INTO the market is a short sale because the market maker sold the stock into the market BEFORE they had purchased the stock from you. It is a technicality since they know there position will be closed out minutes later when they go in and buy your shares. To avoid doubling up on trade volume and distorting the picture, only the sale into the market (consolidated tape) is recorded and not the second leg which was the sale transaction between seller and market maker.
So, this is why the short sale volume is high but also why the FTD’s and bi-Monthly short interest reports are not showing any indications of this volume. The short isn’t really a short it is the execution of a long sale by a market maker. The key language in the FINRA notice is this:
Quote:
--------------------------------------------------------------------------------
The Daily Short Sale Volume File will provide daily access to the aggregate volume of short sales in NMS Stocks and OTC Equity Securities reported to a consolidated tape and traded over-the-counter during regular trading hours on each trading day.
AlanC, Here's a better explanation of why the daily stats are misinformed.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57101068
An explanation of Finra's daily short volume.
(Courtesy of a post made by pantherj)
The daily short interest report from FINRA is as widely misinterpreted as any report ever put out. Yet, once a few basics are understood, it becomes very logical. The huge short volume seen in the daily reports are almost instantaneously covered; within a few milliseconds or a few hours at worst. The best explanation of this report, that I've ever seen, was posted by "Dave Patch" of "Investigatethesec.com."
Posted by: patchman Date: Wednesday, March 03, 2010 6:31:31 PM
In reply to: fourkids_9pets who wrote msg# 648 Post # of 951
Short Sale Volume Reporting’s are deceiving.
I spoke to FINRA today and found out some very interesting things that until now I did not fully understand. I knew there was something wrong with this transparency of information but was not 100% sure what it was. I think I have my answer and it was enlightening.
I was first directed to the Notice to Members memo dated 9/29/2009
www.finra.org/Industry/Regulation/Notices/2009/P120045
The individual I spoke with wanted to make clear that to maintain proper trade volume reporting accuracy, a trade with multiple legs in the trade would only be reported once in the volume reports. The example given would be.
Investor A is long 100 shares and wants to sell. They enter the order through their broker that is routed to a market maker. That market maker will go out and sell the stock into the market before they have bought the stock from you/your broker to close out their account. They do not take possession first as there is no guarantee they can sell the order into the market. By this Notice, the actual sale INTO the market is a short sale because the market maker sold the stock into the market BEFORE they had purchased the stock from you. It is a technicality since they know there position will be closed out minutes later when they go in and buy your shares. To avoid doubling up on trade volume and distorting the picture, only the sale into the market (consolidated tape) is recorded and not the second leg which was the sale transaction between seller and market maker.
So, this is why the short sale volume is high but also why the FTD’s and bi-Monthly short interest reports are not showing any indications of this volume. The short isn’t really a short it is the execution of a long sale by a market maker. The key language in the FINRA notice is this:
Quote:
--------------------------------------------------------------------------------
The Daily Short Sale Volume File will provide daily access to the aggregate volume of short sales in NMS Stocks and OTC Equity Securities reported to a consolidated tape and traded over-the-counter during regular trading hours on each trading day.
1/15/15 short totals: 1,319,833 million
11/13/15 short totals 1,052,676 million
Short positions down almost 30 percent since January.
http://otce.finra.org/ESI/Archives
Cellceutix Corporation Common|CTIX|u|1319833|1161317|158516|13.65|813302|1.62
Cellceutix Corporation
Common|CTIX|u|1035660|1052676|-17016|-1.62|221918|4.67
Short Interest Reporting
Schedule of Reporting Dates
Firms are required to submit short interest reports bi-weekly. All short interest positions must be reported by 6 p.m. Eastern Time on the second business day after the reporting settlement date designated by FINRA. See the schedule of reporting dates.
SEC Approves Amendments to FINRA’s Short-Interest Reporting Rule
The SEC approved amendments to FINRA Rule 4560 (Short-Interest Reporting). The amendments: (1) codify the requirement that member firms report only “gross” short interest existing in each proprietary and customer account (rather than net positions across accounts); (2) clarify that member firms’ short-interest reports must reflect only those short positions that have settled or reached settlement date by the close of the FINRA-designated reporting settlement date; and (3) delete certain existing exceptions to the rule.
- See more at: http://www.finra.org/industry/short-interest-reporting#sthash.6bNZvgBh.dpuf
The real short positions are out soon. The short trend is lower, which is a good sign. The daily link is a bogus stat manipulated by trading activity.
http://otce.finra.org/ESI
Alan, your short stats are bogus. The real short positions are put out by FINRA every other week. Short position as of 11/13/15:
This link is used by financial firms that post short interest totals.
1,035,660 down 1.62 percent from 10/30.
Http://otce.finra.org/ESI
Next year or so? Why didn't you say in 3 years after the stock hits 70 cents or 58 or 45...
There's trading on Friday until 1 PM.
There is no way on earth anyone short CTIX should want to hold that position over the long weekend
The predictable afternoon selloff is here. Strong volume after a PR, followed by a slow drop. Aspire raising funds for CTIX a possibility. Never buy shares right after a PR, wait until late afternoon. A close above 1.80 would be nice...
My email to to Phillip Kim.
Phillip, Good luck defending your clients using the Mako Hit
Piece (Empty Office) as your credible source. Their office appears to be empty these days, as another hit piece (Ocata)
was recently bought out. So CTIX drugs do not work,
yet the FDA has awarded fast-track status this past week
for 2 drugs. The mistake you guys made were issuing a
legal PR an hour after the SA announcement. Geez,
how much inside info were you guys involved in?
Let's all email Phillip Kim with today's news. Wish him Happy Thanksgiving for providing an opportunity to buy shares at lower prices... Going to be hard explaining to "any judge" the validity in Mako's article. Empty office... Drugs do not work... addresses of employees... and so on.
http://www.rosenlegal.com/attorneys-Phillip-Kim.html
How can anyone know what type of investors bought/sold this morning? There's no data to support that only traders bought shares. Are you still predicting 70 cents now that shorts are in control? LOL
The past, present and and future are all related... By not up-listing has continued to haunt CTIX. The science is progressing, but how much is that contributed to Leo or the science department? The PPS is this companies life-line. Trading at 1.50 (pink-sheets) is not much assurance and surely won't attract much investment. Can't blame everything on Mako/shorts... Press releases have zero impact on the PPS, except for an initial rally. Hopefully, there's a catalyst to move this above 2 before more dilution is needed.
Rosen had a few months to dig up more dirt. However, there initial claim was solely based on evidence from the Mako hit. How can Rosen explain "empty office", the drugs do not work, listing addresses of CTIX workers and so on... Yes, they might have a point on Menon's background, but the entire Mako piece will be used by Sullivan to defend CTIX. The title (Empty Office) will be the killer for Rosen. Also, how can Rosen defend it's quick, legal action PR soon after the SA article? That damns them more than anything.... One hour, was enough time to choose an anonymous author over any rebuttal/defense from CTIX??? Is there enough credibility to convict CTIX of any wrong doing? Mako was clearly fabricated "with lies" to enhance a short position.
Sox, An up-listing "without a RS" would have brought a higher PPS, given CTIX more credibility and cushioned the blow of the Mako attack. Cushioned by having the stock halted (Nasdaq rules) on any 10 percent swing within 5 minutes. Yes, the Mako attack might still have occurred, but trading on-the-pinks helped contribute greatly to the downside. Leo had plenty of time to up-list without a RS, but did not have the qualifications prepared while the PPS met standards. BOD's should have been in place long before Leo filed for up-listing. To this day, the stock has never recovered from Mako, and there's still the exposure of trading on-the-pinks. For all the great things "IHUB" posters continue to praise Leo for, one "critical mistake" has countered them all and some...
Before we nominate Leo for "Ceo of the year" lets look back at his "major mistake" this year. In early February, Leo issues a PR stating an application was filed for up-listing. We later find out the normal (4 to 6) week process was never a reality. Leo failed to have the proper "board of directors" in place, which took until late May. Thereby, allowing the "shorts/Aruda/others" ample time to push the PPS below 2. The failure to up-list cost the shareholders dearly, which I believe helped spark the Mako attack. With all the great things you mentioned about Leo the stock is still on life-support controlled by short-traders. The same shorts who Leo keeps mentioning in blogs. Well Leo, the reason your stock is shorted so much is partly your fault. You failed to up-list when the opportunity presented with or without a RS. 4 months (11/14 thru 3/15) the PPS was firmly above 3.
etrade, this stock is going much higher from here. The Ocata buyout finished Rosen's case and has Mako in hiding. This gives Leo another chance to up-list in a few weeks. Once the Rosen case is dropped, the stock climbs above 2. Throw in K results for Phase 1 and I wouldn't be short right now. Come along with the ride and buy some shares. Why else would you post here?
Look how Rosen describes Mako in the case documents. When true details entered the market? They mean, when Mako released the hit piece... Also that same day, Rosen "an hour later" released it's litigation PR that tanked the stock further. So who is Rosen really protecting here? They (Rosen) helped facilitate the decline in stock. So, whomever they (Rosen) represent should be suing Rosen/Mako/SA. Amazing isn't it... Welcome to the world of litigation we live in....
http://www.rosenlegal.com/cases-689.html
According to the lawsuit, throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Cellceutix’s antibiotic drug candidate Brilacidin is ineffective; (2) Cellceutix’s anti-cancer drug candidate Kevetrin does not activate p-53 gene, which suppresses tumors; (3) Cellceutix’s co-founder and Director, Krishna Menon, did not earn his PhD in Pharmacology from Harvard University; and (4) as a result, Cellceutix’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Rosen was a large contributor to the PPS drop of CTIX. Shouldn't they be held liable to those that sold shares the day-of-the hit piece and since? Rosen chose the wrong party for litigation. SA/Mako are the ones to blame. That is why, I believe Rosen was in the know long before that horrible day. Does anyone trust this man below? I hope Sullivan goes after Kim for insider knowledge and enabling the manipulation of a security (with no facts).
http://www.rosenlegal.com/attorneys-Phillip-Kim.html
One poster here believes the PPS is going to 70 cents. That makes no sense as the recent decline (under 1) was facilitated by the Mako hit. Once CTIX is cleared soon, the PPS goes back above 2 and will never look back. Hopefully, Leo is more prepared to up-list this time around.
The Ocata Therapeutics buyout was the best news for CTIX. How can any judge/court take Rosen serious... Especially, since their evidence rests on the empty office hit. Also, Mako has not released a hit piece since September 23. Ocata price target zero (see below) ... Since then, Ocata was bought out for 8 bucks... The Rosen case versus CTIX is all but terminated. Mako is in hiding and I believe they're history.
Mako Research
Long/short equity, special situations, value
Profile| Send Message| Follow (198 followers)
Performance
Ocata: Dilution Imminent, SEC Investigation Potentially Underway, Office Appears Empty, Price Target $0.00
http://seekingalpha.com/article/3528856-ocata-dilution-imminent-sec-investigation-potentially-underway-office-appears-empty-price-target-0_00
LR, the first line/sentence is interesting also... Maybe, former investors would more appropriate, since the litigation is based on "stock losses" from a previous period of time. Also, recent could be questioned as well...
As Beverly biotech Cellceutix Corp. fights back against recent attacks by investors,
The last few press-releases provide clues for the preliminary start of Phase 2. I mentioned November, since we're almost there and the Mako deadline to attract new plaintiffs is 11/10... He may not have a pick-and-choose date to release final results, but he doesn't have to issue a PR at an exact time/date either. Good luck with your position short/long....
sunspotter, Leo can release data at his choosing, as long as it's before phase 2 start-up. The numbers are probably in, he's waiting for a great time to stick it to the shorts/Rosen/Mako/Sa and everyone else who benefited from the hit-piece. Just my opinion, but it's clearly obvious K was successful in phase 1...
My guess, Leo's saving the K data for November when/if Rosen continues it's case... Like (Mako/Rosen) timed their hit piece, a taste of there own medicine.
I agree also. Leo needs to space himself more from how he communicates with shareholders. There's a group here that seem to need/expect a "play by play" of everyday events... Just PR the most significant news and let the market decide... Sometimes too much info can work against a company. Especially, when Leo calls out short traders when he wasn't prepared to up-list back in February. We all know what the pink-sheet market is all about...
Once the Rosen effect is gone, stock should bounce back to 2... Even higher if CTIX wins any counter decision. I don't anticipate another Mako hit piece, as Ashcroft should have scared them off...
Leo already replied to the Menon disappearance (see-below). To issue another reasoning would be counter-productive. The main problem I have is what's more important? Getting pulled aside "for animal antibiotics" is unjustified since Leo PR'd Menon's appearance 4 days earlier. Also, it's a bad time to look unprofessional with the PPS in free-fall and the company image (Mako) in question. Just another black-eye that's been a disaster so far in 2015.
World Anti-Microbial Resistance Congress Washington, D.C.
We wish also to inform shareholders that at yesterday's World Anti-Microbial Resistance Congress Washington, D.C. there was a last minute scheduling change and Dr. Krishna Menon was requested by organizers of the event to be part of the panel discussion titled "Resistance in Antibiotics -- Panel Discussion Animal Feeding of Antibiotics" 10.00 AM to 12.00 Noon. We apologize that Dr. Menon could not give his planned presentation at 11AM on Brilacidin, but it was outside his control. Cellceutix will make the Brilacidin presentation available in the coming week.
Yes, my error... Still suspicious how fast Rosen acted on the CTIX hit piece. Less than 2 hours after it was released... The question is, was Kim a follower ahead of the Mako hit?
Interesting, Phillip Kim is being followed by Mako Research on SA. How interesting, a hit piece blogger follows a law-firm associate. Talk about collusion at it's finest between Mako/Rosen and SA...
Ashcroft should go heavily after all 3... Multi millions "at the least" for damages caused....
http://seekingalpha.com/user/705988/following
Everyone has their reasons for selling. Some might need the money of what's left. Some may use the funds and buy others investments. Aspire might be selling to save face on a bad investment... I guess those are all idiotic reasons because you decided to hold here.
96 cents per/share...Great job Leo, Ihub promoters and so on... I took heat from this board about the failure to up-list at any cost. Well, look what has happened since then...
Yes, the pink-sheet market... A corrupt market controlled by short traders with no buying interest from the real investment world. Exactly why an up-listing was needed... Leo's only choice is to do a RS to attract buyers, or face the continued manipulation. Trading on the Nasdaq is more important than the risk of staying on-the-pinks...
It would show confidence in the stock/company if executives bought shares. Posters here keep harping on how much money Menon/Leo have. Hard to expect others to invest if the insiders do not... Especially, with the dark cloud that exists...
Boodog, Rosen were called out when Leo issued the hiring of Ashcroft a month ago. Since then, the PPS has dropped 30 percent. The question of share ownership is not drug potential, but the credibility of owning shares on a rigged market (pink sheets). The failed up-listing was the nail in CTIX's sail more so than Mako. Mako aside, Leo has done a poor job as CEO this year with communication and failure to up-list...
Most of Rosen's cases are not related to SA articles. They're based on large price drops in stock for various reasons. The other Mako hits have not been targeted by Rosen. Interesting why CTIX was chosen (By Rosen) and the timing of there initial PR...