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Mako's identity may never be known... So this puts the total responsibility in SA's hands. The publisher (SA) is as liable as anyone else...
SA and Mako will likely be involved with the process now. The law firms are using the SA article as the main source for allegations. So this opens up everyone for CTIX to hold responsible. SA will be held even more liable if the Mako clan can never be revealed... That is why SA should not publish such one-sided hit pieces...
Not only can they win, but they can counter sue all those responsible for the lost market cap, destroyed image an so on... This could easily be a million plus pay-day for CTIX... I would counter sue the bunch now, as the current image of this company is currently in lock-down mode. Even if it took a few diluted shares, it makes sense to prevent further disaster.
That's one case, SA signed off on the CTIX hit piece which caused damages to CTIX and it's investors. If Leo can prove the allegations are all incorrect, he has the right to go after Rosen, SA and Mako... Remember, the law firms will have to reveal their sources to the judge... This exposes both Mako and SA to counter suits.
SA is responsible for everything that is published. Same as a news agency and so on... If Leo can prove the article was the main benefactor in lost market cap, they should go after them ASAP. As of now, the SA hit piece is the only source the law-firms are using. SA is as liable as Mako...
Lorema, I disagree, the selling has intensified because of the lawsuits. The non up-listing mess was a last April/May event. This stock has gone straight down this year for 3 reasons. No up-listing, no partnership and now the short attack.
1.40's tomorrow no doubt, unless Leo has real news. Not the same "recycled garbage" like the past 3 months. How about a PR suing SA for 170 million of market cap loss? I would even put the dollar figure in the PR... If Leo is so sure the article was completely inaccurate, he should win hands down...
karin, They responded how? A PR explaining how great everything is? Action was needed to remove the SA hit piece ASAP!!! At all costs Leo should have went after SA...
karin, I respect your opinion, however, the damage to CTIX's image has already been done. Regardless of how many lawsuits are filed or not the shorts have won. Leo is playing defense now with not much current ammo. The ammo being 3 drugs that are many months away from "possibly" producing sales. Again, just because a company may have a winning pipeline, doesn't matter if management (Leo) makes mistakes. If CTIX goes under, Leo and Menon will be fine, the little investor who believed in this company lose the most.
Short covering? Those guys are having a picnic right now...
Leo should have taken legal action versus SA the day after the article. With the "hit piece" remaining on SA, gave the clearance for Rosen and others to bring litigation. One short article has ruined company image and PPS. Leo "at all costs" needed to take action ASAP, not when he's called to the stand...
Leo caused all of this by not being prepared to up-list when the PPS stayed above 3 for 5 straight months. (Nov 2014 thru March 2015) the PPS traded as high as 4.90 and above 3 most of those days. Why Leo was not prepared with BOD's and other requirements was a huge mistake? On top of that, he mentions in PR's and private emails his entire strategy? Great move, let the shorts know your preparing to up-list? The whole up-listing process should have been kept a secret until one can qualify. Now, if the PPS continues to go south, his only alternative is to do a RS to save the company. He trapped himself on the pink-sheets with no way off...
Only 118 million shares outstanding... Dilution is not an issue here. It's clearly Menon and the fear driven by shorts.
Number of Shareholders
As of August 26, 2015, a total of approximately 118 million shares of the Company’s common stock are outstanding and held by approximately 61 shareholders of record, including Cede & Co., the nominee for the Depository Trust & Clearing Corporation and consequently that number does not include beneficial owners of our common stock who hold their stock in “street name” through their brokers.
I agree, Rosen is going after the wrong party. Unless, they were in on the whole short attack? Let's hope Leo hires the right attorney...
Rosen is targeting former shareholders who lost money during the set period of time. I imagine, there has to be a bunch of ex shareholders who have nothing to lose and may join. The question is, does Rosen have proof to defend it's claims?
Yes, Leo's legal team can question why an attorney for Rosen is a follower of Mako. Now, this is not grounds to dismiss the case, but it does bring up conflict of interest questions? Not sure how Rosen has evidence of B/K not being effective? That would be a tough one for Rosen to prove... Leo has to come out fighting now against Rosen, Mako and SA...
Not sure a short trader who benefited can join? My guess, it would be long position who sold after the SA hit piece for a loss...
I agree, Rosen rushed to judgment so now they're trying to manipulate the stock lower to gain more support... Interesting how the attorney is linked to Mako? If they (Rosen) were smart, they would have no ties to short attacker blogs. If Leo can prove them wrong on all 4 counts, they could easily be counter sued.
I agree, wouldn't be surprised if Mako, Rosen and others are all on this together. Asking for volunteers to join clearly shows their first PR did not draw much interest.
Here's Rosen's complete list of suits to join. Rather extensive with some big names here. Notice some of the start dates go back to 2013.
http://www.rosenlegal.com/join.html
I agree, Rosen is also going after Biogen, American Express and others... Their lawsuit is based off an SA article which was total BS. To save face, they're asking for volunteers to sign up?
CTIX made the big run "last September" from the current PPS level. Not sure how anyone could guess the year-end price this early?
58nout, A 4 to 1 adjusts your 100 PPS target to 400... The PPS is adjusted higher for the split. Share value was cut in half by one hit piece. The longer this stock trades on-the-pinks the more risk evolves.
There's many longs here who are afraid of owning shares if they do a RS. Well, what safety/confidence has there been owning shares on the pink-sheets? Again, we will see if Leo can move the PPS without a RS?
If you read the clues that were present, then this is the best time to accumulate. Why a SH meeting mention? An up-listing would be the only reason to have SH meeting... Something is clearly in-the-works that would enable an up-listing. Potential partnership, RS or the unknown... The shorts party is on borrowed time here.
InVivo Therapeutics did a 4 to 1 RS last spring to the Nasdaq Capital Market. 2 weeks ago they upgraded again to the Nasdaq Global Market. This is an example where a RS has worked... The stock took a hit during the market correction, but is up 11 percent today on the rebound. Also, they are being added to the Russell Indexes. See below...
http://finance.yahoo.com/news/invivo-therapeutics-announces-listing-transfer-133500894.html
InVivo Therapeutics Holdings Corp. (NVIV) today announced that the listing of the company’s common stock has been transferred to the Nasdaq Global Market. The company’s common stock previously traded on the Nasdaq Capital Market and will continue to trade under the same symbol NVIV. This follows the July 29th announcement by InVivo that the company has been added to the Russell Global, Russell 3000®, Russell 2000®, and Russell Microcap indexes.
Biotechs move many-months ahead of phase 2/3 results... This stock could go to 5 in a few months with the right news... Perception and fear are driving the stock now. The hit piece was perfectly timed with a market correction. CTIX's pipeline is the best bargain out there for those that understand risk...
They might be in control, but do they want to keep money tied up here with so many bargains around? The second tier biotechs are rallying big today (Juno/Kite)... Money will eventually filter back to CTIX, but it will take a big event... Partnership, up-listing or something that's an unknown...
The mention of a SH meeting tells me they're preparing to up-list... Leo likes to leave clues in his PR's... Why else would they need to have a SH meeting? My guess is a partnership is on-the-way...
Partnerships are more attractive after successful phase 2 results. B makes the most sense since it's the furthest along. K has the greatest potential however...
That's great, let us know when you cover. The Mako boys are long gone now... Another hit piece exposed those guys even more... Science here should offset Leo's transparency. Looking for 2 plus next week, while the whole market rebounds as well. Remember, most small biotechs are down over 20 percent the past 3 weeks. Without the hit piece, CTIX would be in the low 2's, so it's not far off from that level.
1.80 Merrill B of A, Yahoo 1.83.5, Nasdaq 1.83.5 no after hour trades. Probably leaning towards 1.83.5...
Yes, trading on the Nasdaq must have cushioned the blow for Ocata. Up 20 percent since Mako's attack... so those who suggested any market this could happen, I don't believe this... Not to the full extent as trading on-the-pinks.
https://finance.yahoo.com/q?s=ocat&ql=1
Good news, nice that Leo didn't mention SA and the attackers... Hopefully, this starts the rebound...
Yes, Leo was so honest he described his whole game plan to be displayed on IHUB. This includes where he lives, the whole up-listing process in detail and so on... All-the-time the shorts were watching and planning their attack. Yes, the science may be great, but Leo is as much to blame as SA and the shorts.
Leo's using Aspire funds to fly back and forth to Florida... Another stupid leak... Why even say you live in Boca Rotan after the empty office article... Again, Leo's transparency was/is his worst enemy...
I hate to see where the PPS would be if Leo didn't have 10 positive PR's this year and all the supportive posts on IHUB? That includes office visiting details, emails from Leo shared here, and of course, the whole up-listing non-event from start to pending...
I'm down 15K on this investment now... I am not happy, but I understood the risk. Going forward, never invest in OTCBB pink sheet plays. This is the second time I've lost a good portion by believing in a CEO's plan... The plan was hijacked by SA and the bear raiders.
Not sure that's panic, more equity protection from a sinking ship. What's the old saying, better to get out with something, then be the last man standing.
Leo and Menon own the rights to the drugs. They will recover either way. The losers in all this would be the longs who have backed this company. Not up-listing the shares earlier this year has been the biggest blunder in Leo's tenure. Hopefully, Leo starts calling the drug/biotechs for partnership...