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I think any news of a sale/marger/partnership or auction would do wonders for the share price. It would show that a new direction, and likely a more progressive one is under way.
The declining share price is simply a direct vote of no confidence in the current management/plan, regardless of what the "know it all" says. They have failed to deliver on every promise and timeline for too many years.
If they stay quiet, or say that the additional shares are needed to "go it alone", and run more poorly executed trials with ambiguous endpoints, they will get a plethora of "NO" votes. Why can't MV realize how their past performance has poisoned the well?
MF4
No posts today? What happened to the Cortex hype machine?
MF4
Jetty,
If MV had any respect for the shareholder he would communicate more than once a year and posting his emails on Ihub wouldn't be necessary.
MF4
Officially now, I am right. No deal was produced by day 46. Also disappointing is no deal announced today being Monday.
Get ready for another PIPE. MV has no cred!
MF4
davidal,
You have a brilliant mind, but your spelling and grammar could use some work.
The correct spelling for 'rational" as you are using it requires an "e" at the end of the word. "Rationale" is pronounced with the "al" sound you're thinking of.
Thank you,
MF4
Of course if they can raise some money, they might look for strategic inlicensing opportunities (puke, sorry). Just kidding.
MF4
I don't care if I get nothing anymore. I want this technology in strong hands. I will invest new money in THAT venture. No more money or confidence for the Stoll crew. If they get the new shares and issue a PIPE with no deal, I will probably bail on the pop.
MF4
With all of the potential that Ampakines supposedly have, and a decent stock price 3 years ago, pre-FDA-botch.; It is testament to managements failure to bring value to the stockholder that the sp now sub.20
For this, Stoll and MV deserve an "F". Nothing here warrants continuing with the same management/model/plan etc. I hope a deal is announced on Monday. I fear that if a deal is announced it will be another pathetic deal that doesn't provide incentive for the partner to actively pursue development. It could be the kind of deal with a competitor that keeps AMPAs on the shelf and off the market until patent expiration.
Regardless, all the contributing factors keeping these molecules off the market has been a heart-breaking ride.
MF4
Ombow,
If the deal is tomorrow (Friday), that's not good. Monday = good.
MF4
What was the result of Lily's Euro challenge?
MF4
Jerry,
Nope. I'd rather lose my remaining few thousands, then sell here and watch the impossible happen. If I did that and Cortex finally came through, I would kick myself for the rest of my life. And a few thousand bucks isn't worth it.
As much as every fiber of my being is screaming that COR is a scam, I have a faint shred of optimism that I might not be the idiot that I'm sure I am.
MF4
Jerry,
There won't be. Turns out Crease was right afterall.
MF4
If they get 3 month financing for the trials and advertising, they probably made a case that they would have PIPE funds to pay for the ad if they can put the bill on 90 day terms.
November 23, they get the slam dunk additional shares. No deal, so they PIPE 10M shares for $1M cash. Pay off the bill before February, then rePIPE to pay salaries. By 2012, they expect to have completed 10 SA patients. Besides, they need cash to help them get a good deal with BP.
MV you are a joke,
MF4
Neuro,
Seriously? Is that really what you think? Maybe I've given you too much credit?
MF4
Neuro,
My "conclusion" wasn't made as the result of a single post from GFP, but after years of reading his posts. It was also said somewhat in a humorous light. It was just a strange connection I made that I thought was coincidentally funny somewhat.
Just as I've also made the connection that very often, you and GFP have "informed" conversations that take place in a short span of time. I confess that the image of one person, pretending to be two and having a conversation has often occurred to me. But, I would never make the assertion that you are he. I am the Eggman, koo koo kajoo.
MF4
It is also possible that Cortex will just issue more shares, PIPE a dozen time, revese stock split a couple of times, Draw in new bagholders, be on the verge of a deal about a dozen times, and still be breaking hearts many years from now.
MF4
You'd think Cortex management would recognize the opportunity and approach one of these BPs with proof that their compounds are a great start. What gives?
MF4
RBlatch,
There is one industry that is not shrinking: Government. Homeland security, surviellance, law-making, taxing, police speed traps, probably the IRS too. Ahh, the American Dream.
MF4
Right on Davidal!
It's good to see the long-timers revolting against the status quo. MV has done nothing to persuade shareholders that he has a viable plan.
He's just using the Coleman/Stoll playbook. Issuing the same pablum as ever to keep the gravy train rolling for the select few that are employees.
They do this at our expense. No ethics. No results.....VOTE "NO"!!!!!
MF4
Emerald,
What you fail to consider is that about a year ago, COR had 50M shares authorized and needed to double the shares to 100M. This was packaged as being necessary to give them some leverage against a forced (bad) deal.
We gave them the benefit of the doubt. They issued the shares. Ran a pathetic SA trial. Issued some PIPEs on horrendous terms. No deal ever surfaced.
Fast forward a year to the present. We have the same scenario unfolding. Lather, rinse, repeat. How many times will I let them pull the same scam on me? NO MORE!!!!
You had your chance. Get the IP into stronger hands. NOW!
To make matters worse, COR doesn't ever "sell" the story. Get the investors (bagholders) jazzed about the future. Management never communicates its plans by a PR, they choose to do it via emails that can't be proven to be from CORTEX (officially).
For those of you intent on waiting until the last possible minute to vote against this by computer, you should verify when the last date they will accept your computer vote is.
MF4
Well, since I have not heard of a deal announcement (post 45 days), nor an explanation of why the company needs to double the authorized share count after doing that a year ago with no benefit, I have voted all of my shares against the board recommendation.
Enough is enough. I'm not your perpetual dilution center MV. And if you can't get a good deal by now, you don't deserve my confidence. I'd rather write this terrible investment off than give you another six months of salary and more of the same.
MF4
Davidal,
My impression of MV and Stoll is that they are not very sharp. They could be being played. "Oh yeah. We are definitely interested in a deal with you. We just need some time for due diligence. Maybe 30 days 45 at the outset"
Some BP could be playing it this way, meanwhile they are intentionally stringing MV along, only to have him come to the shareholders empty-handed. Maybe they read this board? Maybe they know most of us have had enough of the ever-lengthening stick?
Maybe they are just waiting for Cortex to put the IP on the chopping block so they can buy it all for $1M and leave shareholders feeling like Charlie Brown on Halloween.
MF4
Jerry,
As I said before, I don't think there will be a deal. This week or anytime prior to the request for more shares. So far, I'm right!
MF4
Ombow,
I clicked over to check out Stockhouse. They don't have a next and previous button (that I could find). It just requires too many keystrokes to correspond.
Ihub is a little too sensitive and quick to delete, but I like it anyway, and don't mind disagreements and ruffled feathers.
Sorry you need to leave.
MF4
Athero,
I knew the first time we heard about the coming flu pandemic, that it is a staged, manufactured event. I'm not worried about dying from it.
I think this is just a process that will end up somehow justifying the "need" for national healthcare administered by the government. If that is established, at some point they will require everyone in the system to recieve mandatory "innoculations" for coming "pandemics". They will make it illegal to not have government healthcare. They will force us to pay for it.
The net result: another "tax" to pay, and the ability to forcibly inject a person with whatever they want. Some things may "accidentally" kill you or implant tracking/control devices into your body.
Sure, I know, I'm a conspiracy nut. They could never get away with such a plan. Ever hear of Nazi Germany? I know, couldn't happen here, right? How many lawmakers in DC aren't sponsored by big money? Connect the dots people.
This government is taking over our country. How can a little company like Cortex get something to market when the FDA gatekeepers are controlled by competing BP interests. They will break us, then a priveleged BP will buy the IP for peanuts.
MF4
Prediction: No deal by the special meeting. The week before, MV issues a statement saying:
"If we don't issue the extra shares, we will be forced to sell the IP for $3M. After lawyers, severance etc. there will be nothing left for shareholders. But, if we get the extra shares, we will dilute you then do a reverse split, but that will give us the time to get excellent results from a new blockbuster indication that colleagues in Buenos Airies have discovered. Turns out ampakines cure frigidity and impotence when take regularly with no side effects observed.
The market is $25B/year. Surely we will get a great deal after passing safety trials. There are already several interested parties. Please vote to authorize the additional shares so we can complete our strategic plan"
This is a prediction.
MF4
Ombow,
Perhaps you are a little naive?
You made an investment based upon the supposed conversation between a CEO and two (assuming they're not the same person) posters on Ihub.
3 possibilities: 1) MV didn't speak via email with either Jerry or GFP. 2) MV intentionally did what was said with the intention of denying it, should he ever be sued. 3) Everyone was telling the truth.
I know the shares are cheap, but until management delivers on one single promise/timeline, I won't commit any new money here. They have zero cred with me anymore.
MF4
enemem,
The possibility also exists that COR is a shell company designed to mislead and promise falsely and practice the pump and dump game. In the 13 years I have been a bagholder, they have never met a timeline, made a beneficial deal or communicated effectively.
MF4
Ombow,
It may be that MV is putting on a front that will lead to a plausible supposition of an implied explanation for why the "deal" isn't completed by the 45 day mark (which it won't be). If just of few of us Ihubbers give him the benefit of the doubt and vote to add the new shares by the November date, then mission accomplished. Champagne and salaries for another 6 months, etc........
I'm not saying this is the "plan". But, based on prior history, it would be foolish to not believe this is a possibility.
MF4
Isn't the 30-45 day window for a deal fast approaching?
My bet is there won't be a deal announced by day 46.
For once, I would like to see management deliver on any timeline or promise.
MF4
Ombow,
Don't sweat it. Some of the frequent posters are "holier than thou". I liked your tone, FWIW.
MF4
This is pathetic that the board is suggesting that Ombow carry on a dialogue with MV. If MV cared to be moderately communicative and responsive to shareholders, we wouldn't need Ombow as a middleman.
MF4
OT: Bigworld,
It looks like GLD is going higher and so is the market. VIX is setting new lows. Are you still long your thesis?
If so, has the last bull leg begun? Where/when do you see it reversing, and why?
I always find your analyses enlightening,
MF4
(rolling my eyes)
MF4
Bladerunner,
You're simply wrong.
MF4
Bigworld,
I totally agree with your suggestion of trying and hanging all politicians over the last 20 years. They have totally debased the Constitution for political gain.
Unfortunately, they are well insulated in their ivory towers. A good, old-fashioned lynching would get their attention.
MF4
Davidal,
The problem is that at this market cap, a competitor could lock up the IP and keep it from competing with what they already have at market. Cor has to be sure they are not dealing with this type of buyer.
Of course, that assumes that the IP is legit. The way they have never delivered on anything promised in a timely manner leads me to be suspicious of the IP claims. Plus, the fact that nobody has emerged with a compelling offer at this price. Hell, with all of the supposed potential, why wouldn't someone just pay $50M for the pipeline?
Something smells fishy here and until management can produce some value, I will give them a vote of NO CONFIDENCE on anything they propose.
MF4
jerry,
You're dreaming if you expect Cortex management to be proactive and go after that.
MF4
GFP,
I too bought more for a quick pop. When it never materialized and the sp slowly dropped from my purchase point, I bit the bullet and bailed (just on the new shares).
Hope springs eternal. But, never does the carrot find purchase. Silly me.
MF4
If a prospective partner wanted an equity stake, they could just buy some already approved shares. The only purpose for doubling the share count is to PIPE them away to pay for salaries until social security kicks in.
Face it. These bozos have been loafing for years on our dime.
MF4