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Waverunner, It's going to the casino owning small biotechs. The best strategy is to invest in a "bunch of them" and hope one or two pan out. Every startup "like CTIX" shows similar actions based on hope/promise from the CEO. Leo's job is to promote the company by issuing many press-releases (important/not important) to help keep the PPS afloat. Shares are used to generate cash. Polymedix failed, so now CTIX holds the keys... For how long? As long as the stock price enables enough cash to be raised. The stock being down (70 percent) YTD is not a good sign.
Yes it is... And can always buy back if the ship turns around. Right now, the trend is lower (sub-dollar).
B might take a year or 2 or 3 or 4... How long has it been since Polymedix first introduced B? You can clearly see why most biotech startups fail... Polymedix to CTIX to whom next? Easier just to sell off the compounds and move on. Save your dedicated shareholders more losses and time/hope.
Leo destroyed SH value by not up-listing when he had 4 months to do so... The Mako hit was magnified by CTIX trading on the pink-sheets and not having any protection/interest to potential investment. The PPS was dropping long before Mako arrived. Mostly due to an up-listing Leo fumbled away.
george h, Cash on hand or cash flow? Very deceptive when you read the financials. Yes, they may have cash to use, but how much is owed out (liabilities)? Since they have no sales/revenues, the only collateral they have is their stock price which is a disgrace. They're also trapped on the pink-sheets until the price recovers or they do a RS. As/if the PPS continues to decline a RS is almost certain.
luxe, I agree, Leo should have been more on the offense regarding Rosen. 2 months for finally a defensive position was too long. The damage was done and continues to cripple the company.
1.31 is the low for the year, will be interesting if this falls below 1.30? Not much interest ahead of year-end selling. Most shares bought in 2015 are firmly in the red...
Actually, next month is make or break time for CTIX with the Rosen allegations. If dismissed/defended successful stock should rally... If Ctix loses, goodnight Irene... That's been the stranglehold in share movement the past 3 months.
Really, so the strong drop in price is more related to other biotechs than another lame PR? Lame meaning "progress reports" rather than hard facts... We all know owning this stock is one issue/delay after another... They have to make sure all the T's are crossed and I's dotted... LOL
When Leo speaks the stock drops... The phase 3 process for B just continues to drag on...
The floor door has no support once 1.50 lost resistance. We will see if CTIX holds a dollar?
Another down day for Leo and crew. Reverse Split is gaining traction each and every day.
The compounds would be available to the purchaser of assets on any bankruptcy agreement. Who knows, maybe B changes hands 3 times before launching? Again, just because CTIX may falter, doesn't mean Leo/Menon and their drugs go bye bye... The stock known as CTIX would be history though. This talk/discussion could have been prevented with a healthy PPS trading on-the-Nasdaq. Instead, 2015 has been about pink sheets, survival, Mako, Aruda, failed up-listing and so on... One disaster after another...
And what? My debate with LR was about Leo's compensation if CTIX filed for bankruptcy. He's the largest holder of assets, so he stands to receive compensation on any auction/sale of property. Property meaning patents, equipment and so on worth value.
LR, I found the compensation agreement between CTIX and Leo. Leo clearly has enough ownership between shares and other rewards to survive any down-fall to this company. Of course, the patents have to be worth what someone would be willing to pay, while the little shareholders lose everything... When Ihubers keep saying CTIX has 8 million in cash, they forget to subtract out the liabilities. Over 2 million is owed to Leo as interest piles up.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10908731-949-400609&type=sect&TabIndex=2&dcn=0001477932-15-005843&nav=1&src=Yahoo
11. Note Payable – Related Party
During the year ended June 30, 2010, Mr. Ehrlich loaned the Company a total of approximately $973,000. A condition for this note was that the Ehrlich Promissory Note A and Ehrlich Promissory Note B be replaced with a new note, Ehrlich Promissory Note C . The Ehrlich Promissory Note C is an unsecured demand note that bears 9% simple interest per annum and is convertible into the Company’s common stock at $0.50 per share. The note requires that the interest rate on the amounts due on Ehrlich Promissory Notes A and B be changed retroactively, beginning October 1, 2009, to 9%. On April 1, 2011, the Company amended the Ehrlich Promissory Note C and agreed to retroactively convert accrued interest of approximately $97,000 through December 31, 2010 into additional principal. During the year ended June 30, 2011, Mr. Ehrlich loaned the Company an additional (approximate) $997,000 which brought the total balance of the demand note to approximately $2,002,000. During the year ended June 30, 2012, Mr. Ehrlich loaned the Company an additional $20,000 which brought the balance of the demand note to approximately $2,022,000.
F-17
On May 8, 2012, the Company did not have the ability to repay the Ehrlich Promissory Note C loan and agreed to change the interest rate on the outstanding balance of principal and interest of approximately $2,248,000, as of March 31, 2012, from 9% simple interest to 10% simple interest, and the Company issued 2,000,000 Equity Incentive Options exercisable at $0.51 per share equal to 110% of the closing bid price of $0.46 per share on May 7, 2012. Options are valid for ten (10) years from the date of issuance.
At June 30, 2015 and June 30, 2014, approximately $73,000 and $237,000 was accrued as interest expense on this note.
At June 30, 2015 and June 30, 2014, principal balances of the demand note was approximately $2,022,000.
What's a real shareholder? One who turns a blind eye to mistakes and performance of a "self-titled" CEO? Who appointed Leo CEO in-the-first place. Wasn't the shareholders or BOD's... That's right, Leo decided this year to play big-time company. Still waiting on the SH meeting though... LOL
If CTIX files for bankruptcy and goes private or dissolves, the only value would be the drug patents and equipment. The beneficiary of those patents would be the creditors first, then the largest shareholders. Leo and Menon would have the upper hand since they're the largest shareholders, founders, developers and so on... It's my opinion that Leo/Menon will be rewarded with or without CTIX staying in business. Leo also has a compensated contract for rescuing the business. Not sure of the details, but it was in the filing. I was in-the-wrong for saying rights, but there's no doubt in-my-mind they will have involvement either way.
I understand your passion, but there's more to company success and survival than potential products. It's great that CTIX has P/B/K, but that hasn't helped the PPS this year. Polymedix thought B was the next great thing? Their faithful shareholders lost everything. Leo made "one huge mistake" and it cost the shareholders dearly. Leo has little control over trial results/delays, but one process he could control (up-listing) he failed.
I disagree, if we go back to last November "when the PPS had it's big run", Leo needed to have the BOD's in place and the paperwork ready to be filed. The BOD's were never announced until April, long after the PPS was above Nasdaq requirements. How many updates were there along the way that continued to offer hope? The first mistake was not being prepared to up-list, the second, ever announcing intentions to up-list. Why tip your hand and then can't deliver the goods. Especially, when he (Leo) denounces short traders in press releases.
The failed up-listing was the start of the free-fall. By up-listing last spring could have subdued any attack by Mako. A stock is easier to manipulate on-the-pinks with little protection. There's less market makers with no trading halts. Halts for 10 percent swings and so on... Also, any credibility of trading on the Nasdaq might have changed the way CTIX was manipulated before, during and since the piece was released. Plenty of shareholders expressed the need to up-list with or without a RS. Now, a RS is surely in play. Which, casts doubt in anyone buying shares now.
BigK, under attack? Been under attack since January 5th... People fail to remember CTIX closed at 4.65 on 1/5/15. The stock has been in decline mode most of-the-year. Long before Mako arrived on-the-scene. Most of this year's decline was brought on by delays and failed hope. Hope being an up-listing process that was never properly planned. So now, the PPS is entirely in control of the shorts, while Leo plays defense versus Rosen/Mako.
Leo is the CEO who is responsible. The PPS is down 70 percent YTD. By not being prepared to up-list caused most of the down-fall in the PPS. Mako came along and put icing on-the-cake.
How do we know it's not Aspire selling shares? Doesn't CTIX need to raise funds by stock sales?
Leo helped enable the Mako piece by allowing CTIX to trade on the pink-sheets. There were 4 straight months where CTIX traded above 3.. Leo was unprepared to up-list when he filed because he had no BOD's in place. Then when he signed up a few, the PPS was already in tank mode. Leo also tipped his hand "to the shorts" by communicating the entire ordeal. So when he couldn't up-list, the Mako piece then came out. Throw in the biotech sell-off and we are left with a sinking ship.
A partnership deal? You mean the one that shareholders are hoping for? If there was any deal "by now" it would have been signed. Too many question marks "right now" for anyone to hand over a blank check to Leo... Why would a company save CTIX now, when they can pay for the scraps later on... Same as Leo buying Polymedix. I've been saying this the past year... Just because a company may have a successful drug, there are many reasons why failures exist. Leo stands to benefit regardless if CTIX stays in business or not. He and Menon have rights to the drugs.
There's no logic involved with price movement. Too easily manipulated by those involved in-the-know. The know meaning pink-sheet players... Leo needed to up-list 4 months ago "the easy way", but hoped the PPS would rise accordingly. Well, he was fooled and Mako ruined his entire plan. Now his only way off is to do a RS with a stock in disarray...
Almost low of the year... Mako accomplished it's goal, destroy CTIX and make tons of money doing so... All Leo can do is watch the PPS continue to drop. Leo screwed this whole company up by not getting off the pink-sheets when he had a chance. A reverse split will almost be certain now...
Someone is washing the price down-the-toilet. From a manipulated open price (1.70) to the current low-of-the day 1.47. The lower the PPS, the greater chance of a reverse split. How can Leo raise capital with a PPS floating barely above 1? Also, the continued pounding by law firms make this stock unattractive to most. Again, Leo needs to come up with a big announcement, or this is going sub/dollar...
Need a catalyst to move this forward. With plenty of shares under water this year, tax selling will be the forefront. Dilution will also increase "with a lower PPS" as funds are needed. That's a heavy one-two punch to overcome when there's little incentive for new investors to buy....
biodoc, Great point on Rosen employees being followers of Mako... Why was CTIX targeted so quickly? Yet, Ocata and Digital Turbine were not by Rosen. Mako had 2 "hit articles" on both, but only one on CTIX? Very suspicious on Rosen's involvement before and after... My guess, someone at Rosen was tipped off on what was about to happen. Whether Rosen insider/s shorted stock or received compensation from Mako we may never know....
Mako has 2 hit articles on both Ocata and Digital Turbine. Yet, Rosen did not issue any lawsuit the day of those articles or since? Meaning, CTIX was the first Mako hit, so it appears Rosen/Mako were connected... Mako claims Ocata's stock is going to 0 and has empty offices also? Seems rather suspicious how Rosen picks and chooses who to go after?
http://seekingalpha.com/author/mako-research/articles
Rosen made the wrong PR timing the day of the hit piece. 2 hours after the Mako hit Rosen issues their PR??? Mentioning the SA article as total proof... That throws up a red-flag on Rosen's involvement.
I wouldn't be surprised if Nicole, Mako, Rosen and others were all in this together. I'm still amazed SA/Rosen continue to stand ground... The longer the SA piece exists, the more damages Leo can fight for. Example: Another law-firm piling on again Friday... Besides the 35 percent loss in market cap, the ability for CTIX to raise funds (up-listing) has been deeply damaged. SA is as much to blame as Mako... There's no doubt SA/Rosen have cash/assets in hand... Not sure about Mako and if they've covered up their identity. If the Chinese can hack into the US Government, I'm sure anyone could sign up for SA using falsified info...
Every OTCBB stock board have defenders touting DD... Great, where has all that DD work gotten you? if anything, it has caused greater loss as expectations continue to get eaten alive.
It's all perception, Leo's job is to raise funds by promoting press releases... He did a wonderful job up until he needed to act like a CEO. By staying on the pink-sheets allowed Mako to work it's magic. Now, with the market in correction there's even more risk owning OTCBB stocks.
Too much risk owning shares now. The Mako hit was never defended. At 1.35 PPS, going to be much harder raising funds. Always a chance to buy back when the smoke settles.
panic seller? Maybe a smart seller, cutting his losses and buying other stocks that are more attractive now.
1.38 and nobody is selling? Someone wants out and is tired of owning this POS.
If Leo has any news left-in-the-tank now is the time to announce it. Clearly, investors are ready to pull the plug and move on.
This is the Kenny Rogers effect (The Gambler). No when to hold them, no when to walk away, no when to run... Better to sell out with something as there's always a chance to buy back later if CTIX reverses it's fortune.