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Not sure if Rosen folds... They're credibility is on-the-line either way. They have American Express and Biogen as targets as well... To me, it's not worth the risk for Rosen, but Leo should counter sue regardless. Damages have been too severe to only accept a dismissal.
It's really formality ahead of the November Rosen/CTIX hearing. Rosen holds the next move... A game of chess...
Today's PR was needed, hopefully not too late. Even if the charges are dropped Leo should still go after them. More than half of company value has been lost. Also, CTIX had some momentum where they may have up-listed...
Menon giving up shares to Aruda started the free-fall. Obviously, there was deception from this company from the beginning that allowed Aruda to be given such a large amount of shares. Add the phantom up-listing, the Mako hit and and now Menon's disappearance and you can easily see why there's little interest in buyers right now.
Once the trust factor of the CEO is in doubt, then there's no reason to own shares. Leo lost credibility a long time ago. Recycled press-releases, up-listing disaster, executives leaving due to sickness (right), Menon moonlighting with 2 employers and doesn't have time to make the B event... Comparing CTIX to large biotechs in PRs, also complaining about short-sellers. Last but not least, funneling emails to Ihub posters with their intent to post his replies. Very unprofessional...
There's plenty of reasons for people to sell, very few to buy right now. Tax losses, Aruda dumping, Aspire dumping, shorts, Mako/Rosen trial soon and so on... Now you have the Menon no-show for an event... Reverse Split anyone...
Karin, I respect your opinion, but if Leo's reply this morning is still questionable, this is a double blow to management. So we should expect a third PR/response on this subject? Information sharing on this board has been a major contributor to the dying PPS. Not on purpose, but indirectly... This all started by Leo funneling info to posters here. The up-listing mess on down to the Menon disappearance...
I don't see a big showing. Possibly a few locals from the area... With the stock so low, why shell out more expenses to attend. Also a bad time of year with holidays and so on...
Leo's excuse was a classic... It was outside Menon's control... He wanted to showcase B, but was pulled aside by organizers and made to discuss animal feeding of antibiotics... He had to do it, or would have been arrested by the organizers... LOL
However!!! CTIX is going to be the next Regeneron
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. - See more at: http://cellceutix.com/cellceutix-announces-date-for-annual-meeting/#sthash.5uo614zX.dpuf
Menon is Kard Scientific's Chief Science Officer and President. Maybe he had other duties of more importance? Why didn't Leo send Daniel Jorgensen (Chief Medical Officer) in-the-first place? After all, he's the former Polymedix hire who knows B better than anyone...
One plane ticket is about 300 shares of stock. Other costs and you could possibly buy 1000 shares and save yourself a trip. What's Leo going to say, thanks for attending and please keep paying my salary with share purchases.... By the way, we're going to be a huge biotech player (without naming names) some decade...
Menon has 2 employers...One with CTIX and the other Kard Scientific. Maybe CTIX was not a priority yesterday? Gotta love these OTC pink-sheet businesses. Executives holding 1,2 or 3 jobs just to fill their wallets...
President & Chief Scientific Officer
Cellceutix, Inc.
November 2007 – Present (8 years)Beverly MA
Pharma Executive, Cellcuetix Corpn., a public company traded at NYSE.
Still continue the position of KARD as their President and COO, a Contract Research Organisation in Drug Development.
https://www.linkedin.com/pub/dr-krishna-menon/0/58b/8b
Pretty embarrassing to expect shareholders to attend with a stock that's on brink of total collapse. Maybe, Leo will compensate those folks with a free t-shirt and lunch?
Leo's excuse this morning did seem rather strange. The company sends it's "main man" to a conference to help promote B. CTIX needs all the publicity it can get and he doesn't show up? He's pulled aside to discuss animals. This company or shell becomes more laughable by-the-day. And to top it off, the pretend CEO (Leo) issues a PR 4 days before the event... LOL
Sure, blame the shorts again... It surely isn't missed timelines and bad management that has caused a (75 percent) decline in the PPS... Longs have thrown in the towel and want something per/share than risk losing everything. Not up-listing "with or without" a RS has buried this investment. Always time to buy shares back with a chance to get them much lower than today... Right now, the trend is down, down, down she goes...
Nothing Leo can do to change the direction of the PPS. Should be sub-dollar before the Mako hearings... No reason to buy shares now when you have them much cheaper in November.
So Leo didn't know Menon was attending before last Thursday's PR? Again, what was the logic for issuing a PR then and not yesterday or today? Maybe, 2 shareholders live in the DC area I guess?
You brought up reasons why Menon may not have attended. Exactly why you issue the PR the morning or day before the event. For shareholders that wanted to attend, I doubt there's any with only a week notice?
I responded to someone who said he (Menon) didn't attend. Does it really matter either way? The PPS never moves on these events.
Exactly why you don't issue a PR ,where you suggest many reasons why (Menon) might/could not attend. Issue the PR the day Menon attends, that way, you don't keep fueling the doubters and shorts... Leo has 3 days to produce a proxy PR, or it's another egg thrown his way... Leo is a PR machine, trying to sell shares. But, nobody is interested.
Yep, the PPS does not lie. Tired of reading how great everything is from posters and the CEO... Now it's a decade long investment and Menon has the flu...
PR (number 18) 2015, Menon important speech. OK a no-show, next.... Proxy news PR (number 19)... (sometime this week) Stay tuned... PPS YTD minus 70 percent!!! Where would the PPS be without 18 (press releases) in 2015?
I know what happened to Menon. He was chasing down the photographer who took the "empty office" photo for Mako... He noticed someone snooping around the building and chased him for 3 hours. Missed his flight, so there you go...
More egg on Leo's face if Menon never attended... The next PR "scheduled sometime this week" should contain proxy news? Stay tuned longs/shorts, the communication between CEO/shareholders is just outstanding!!!
Again, What Leo said months ago can change due to market conditions. The Ceo's job is to make tough decisions that benefit shareholders and the company. So far, staying on-the-pinks has not benefited the shareholders. We will see if the PPS rebounds to above 2 and holds?
Waiting for the PPS to rise has not worked either. So pick one of 2 evils... Stay put on the pinks and hope there's enough buying interest to raise enough cash. Or, do a RS to a better market... Either way there's risk... I like my chances on the Nasdaq better than pink land.
Leo mentioned no RS when the PPS was trading much higher and they still had hopes of up-listing. There's no way they can up-list without doing a RS or a dramatic move in the PPS. We all know how easily the PPS is controlled by shorts and held hostage on the pinks. Leo has some tough choices ahead, do a RS and move on to the Nasdaq, or play cat and mouse with Aspire's money.
1.31, lowest price of-the-year... Reverse Split chances increase as the slide continues. Can't wait for Leo's proxy PR this week...
Expectations from conferences, speeches and so on have not had any effect on the PPS the past 3 years. I don't expect much from Menon's speech other than it was PR'd by Leo. Stock continues to drift lower as the 1.20's are in site.
Also, How do you know the financial positions of both Leo/Menon and if they could walk away? They make 450K in salary and more with bonuses/perks. Not bad for a business that has zero sales with a stock price in shambles.
Leo hired consultants to help with the up-listing process also... LOL
They draw salaries from a company that has zero sales. If they were in this only to help others, why do they take a salary?
Helping others with a catch... Financial reward along the way... They wouldn't be helping for free... The question is not helping others, it's running a business and being held accountable for good and bad decisions... So far, this year has been a bust owning shares of CTIX. That's how I judge my investments, not if they help others or not... Bad analogy...
BigK, you don't think an offer of (1 billion) would get the company sold regardless of how many shares Leo owns? He would be a fool not to accept a buyout of 8 or 9 dollars per/share. Especially, in their current situation where short-traders have more pull than the CEO. I don't believe there's been one offer "buyout or partnership" to this point. Leo would have grabbed it and ran by now... just my opinion...
5 year performance? Most potential (OTCBB) investors/traders/flippers will look at recent (last 6 months) results/events to decide whether a stock is worth investing in. Especially one that trades on the pinks. Most of the shares bought this year (2015) are way in the red... Throw in the Rosen/Mako effect, failed up-listing and it's easy to understand why the PPS is so low. Now, Leo is back with "non-eventful" press-releases to sell stock. He sure released a dandy yesterday... Stay tuned for next week's update short traders, Leo is coming out with proxy news...
They went under, bankrupt, adios amigo regardless of what caused the situation. I've been stressing the same view point for 3 years. Just because there's potential doesn't mean a damn if execution is poor or funds run dry. Leo botched the one thing he could control... Cost them half their market cap or more by not up-listing. Now, they're on life-support hoping the PPS rises where they can up-list without a RS...
Phteven C, with your current valuation (800 million) I'm shocked nobody has stepped in to buy/partner with a 85 percent discount?
Keep those rose color glasses on as the PPS continues to set new lows. Something is wrong with your logic....
rule rationale, so by your logic, management plays no part in the success or failure? Trial results is what counts? Cmon, there's been tons of biotechs that have had successful trials and went under or sold for scraps. Polymedix and so on....
It's not undervalued.... If anything, a market cap of 170 million is more than justified for a company that's trading on life-support. That's the casino aspect of owning these shares... A sure bet would be trading more than 1.40.
The value of the compounds would be what someone is willing to pay or partner with. The market cap is currently around 170 million. I doubt CTIX would receive that much for all 3 drugs currently... B would be the most attractive since it's furthest along. K has the most potential however. Leo's not going to fold or sell out until he's forced to do so. Right now, he has 6 months to turn this around or face the possibility of not receiving another financial deal. Leo's biggest challenge now is the recovery of share price...