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TheHound, The corporate update back on April 21st mentions the approval for the BOD's. The PPS closed 4/21 at 3.15 and mostly above 3 until April 30th. So, either staying above 3 is a requirement, or there's another issue? Notice the decline pattern right after the 4/21 update... Leo needs to explain why there's a delay, he possibly caused it by not being prepared ahead of filing. The BOD's should have been added last-year, while the rally up to 4.90 took place.
Corporate update 4/21
Our NASDAQ application is in process. We made our selections and now received confirmation of acceptance of positions for new members to the Company's Board of Directors and committees required to move to the NASDAQ exchange. This information has been prepared in the form of an 8-K filing for submission to the Securities and Exchange Commission (SEC) and is currently being reviewed by our SEC counsel. Under guidance of our legal counsel, we will be publicly releasing this information simultaneously with the 8-K submission.
Stock prices April/May/June... close last column
Jun 2, 2015 2.78 2.82 2.63 2.67 186,900 2.67
Jun 1, 2015 2.84 2.95 2.71 2.83 259,900 2.83
May 29, 2015 2.84 2.99 2.84 2.86 313,400 2.86
May 28, 2015 2.79 2.85 2.70 2.84 286,000 2.84
May 27, 2015 2.77 2.77 2.63 2.76 141,200 2.76
May 26, 2015 2.61 2.85 2.51 2.76 405,400 2.76
May 22, 2015 2.40 2.69 2.40 2.61 414,500 2.61
May 21, 2015 2.49 2.49 2.27 2.32 427,400 2.32
May 20, 2015 2.55 2.56 2.46 2.48 133,500 2.48
May 19, 2015 2.61 2.63 2.43 2.53 326,700 2.53
May 18, 2015 2.73 2.74 2.62 2.63 120,400 2.63
May 15, 2015 2.71 2.75 2.68 2.72 186,200 2.72
May 14, 2015 2.70 2.74 2.63 2.70 161,000 2.70
May 13, 2015 2.61 2.74 2.52 2.70 272,200 2.70
May 12, 2015 2.65 2.66 2.56 2.56 201,300 2.56
May 11, 2015 2.69 2.74 2.55 2.65 118,400 2.65
May 8, 2015 2.75 2.75 2.62 2.74 155,800 2.74
May 7, 2015 2.45 2.75 2.40 2.75 267,600 2.75
May 6, 2015 2.48 2.48 2.38 2.47 254,200 2.47
May 5, 2015 2.79 2.79 2.32 2.52 857,100 2.52
May 4, 2015 2.85 2.89 2.73 2.74 351,400 2.74
May 1, 2015 3.00 3.00 2.81 2.91 292,500 2.91
Apr 30, 2015 2.98 3.08 2.95 3.02 156,900 3.02
Apr 29, 2015 3.03 3.03 2.92 3.00 153,100 3.00
Apr 28, 2015 3.00 3.10 2.95 3.00 232,500 3.00
Apr 27, 2015 2.89 3.11 2.88 2.95 251,200 2.95
Apr 24, 2015 2.94 2.99 2.90 2.90 190,600 2.90
Apr 23, 2015 3.04 3.04 2.92 2.99 271,500 2.99
Apr 22, 2015 3.15 3.16 2.93 3.05 519,400 3.05
Apr 21, 2015 3.15 3.19 3.11 3.15 311,800 3.15
scottsmith, I also question any motive to withhold up-listing because substantial news is pending. Especially, since the application was submitted back in early Feb... It's clear as day, there's a hold-up on the approval process for some unknown reason...
Another conference "comes and goes" with the PPS in much worse shape. Aruda, Aspire and the shorts have this pattern figured out. Let it ride up on pending news, then sell/short into any rally... Easily predicted...
The up-listing delay has been the major issue with PPS performance. Nothing is going to change with the trading pattern until they up-list or form a partnership... Again, what's the hold-up? My guess was the BOD's not being official until mid-April... But, as each week passes by, Leo needs to say something SOON!!! Clearly, Leo knows the reasons...
Your complaining about the stocks performance, comparing CTIX to other investments. The PPS is up "over 20 percent" in the last 4 trading days. Maybe, the stock rallied ahead of the poster presentation? The big issue I have with Leo is the up-listing delay...
No sustained volume after 10:30... Last hour, little volume drives the price down 2 percent. Example of why an up-listing is needed.
Cancer has taken the son (Beau Biden) of the Vice President... Lets all remember, even though we stand to make good money here, the main focus should be on saving lives.
http://www.cnn.com/2015/05/30/politics/obit-vice-president-son-beau-biden/
Karin, The normal up-listing process on the Nasdaq is 4 to 6 weeks (per/Nasdaq). The delays were the BOD's not being in place...It's not an IPO, that's a whole different ball-game...
1hb, what investors were frustrated at was the length of time it's taken, considering the pink-sheets is not a practical market to trade on... Again, some blame should be placed on the CEO for not having the "T's crossed and I's dotted" before the application process...
1hb, Leo does have control on the up-listing process.... He chose to submit the application (Feb 5th) without having the requirements (BODS) in place. Normal "application process" is 4 to 6 weeks. Hopefully, the Nasdaq is ready for approval soon, since the BOD's were announced Mid April... GLTY
Nice video of Geoffrey Shapiro from March discussing CDK pathways as targets for cancer. Nice to have him onboard the K train...
Dr Geoffrey Shapiro (Dana Farber Cancer Institute, Boston, USA) talks to ecancertv at TAT 2015 about the roles of cyclin dependent kinase (CDK) pathways as targets for anti-cancer therapy.
scottsmith, It does seem foolish to submit an application knowing the BOD's were still being discussed... Especially, when Leo mentioned having a "consultant group" help them assist...
Hello Leo, it's Julie from the Nasdaq, you do not qualify for up-listing because you need BODs... Ok Julie, we're working on it, might not be done until April...
From Karin's Q&A back on Feb 9th... It's obviouse if Leo submitted an application back in February they were nowhere ready to satisfy all the requirements... Example: BOD's weren't announced until mid-April... My guess on up-listing is mid-June...
http://seekingalpha.com/article/2898526-an-interview-with-cellceutix-ceo-leo-ehrlich
Q: I'd like to jump right into this with CTIX's plans to uplist to NASDAQ. On January 26th, you issued a press release as follows. "Cellceutix is also pleased to inform shareholders that due to recently reported positive events, the Company is actively moving forward with its intentions to uplist to the NASDAQ exchange and is meeting today with its legal counsel, K&L Gates, to review the Company's application for a move to the senior exchange." Can you please advise on what are your current plans?
“
A: We began the process of uplisting last Thursday (February 5, 2015). We've now submitted our listing application and paid the application fee, so the process to move to the NASDAQ Capital Markets is underway. In conversations with NASDAQ and our counsel, the formation of the Board with independent directors and requisite committees can be completed during this uplisting process. Right now, we have qualified individuals wishing to join our board and will announce developments related to the uplist as they happen. Potential Director names will be first submitted to NASDAQ for a vetting process to make certain that they are acceptable before we can disclose anything on that front.
Nasdaq's Own Timeline for Listing is 4 to 6 weeks. Either Leo submitted the application "much later" then first mentioned, or CTIX were flagged for more info needed after week 3? I agree with others here, Leo should give an explanation.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Listing Timeline
While it generally takes four to six weeks to process a listing application, this time frame is variable and may be shortened considerably, if the application raises no issues and the company responds quickly to Staff comments.
Week 1. Company submits application for listing and Nasdaq Listing Qualifications Staff begins its review.
Weeks 2-3. Staff completes its preliminary review and prepares comment letter.
Weeks 3-4. Company addresses any issues raised by Staff.
Weeks 5-6. Staff completes their review and company is approved for listing.
TheDane, Do you expect no profit taking after the latest run-up? The up-listing is the next catalyst.. When that happens is anyone's guess including Leo...
When was the Up-listing application filed? If it were after the board-of-directors were announced ( April 27) it could be a few months away? Most here, were under-the-impression the application was sent back in March? Below is from the April 21st update...
http://finance.yahoo.com/news/cellceutix-provides-corporate-140507963.html
Our NASDAQ application is in process. We made our selections and now received confirmation of acceptance of positions for new members to the Company's Board of Directors and committees required to move to the NASDAQ exchange. This information has been prepared in the form of an 8-K filing for submission to the Securities and Exchange Commission (SEC) and is currently being reviewed by our SEC counsel. Under guidance of our legal counsel, we will be publicly releasing this information simultaneously with the 8-K submission.
Leo did not release a PR to the public, just Facebook and CTIX website. He's done this before, it's to help control the short attack the night before? LOL 7:30 AM or so the official PR will be released.
daydreaming, all stocks are shorted... CTIX's short percentage 1.2 of float is below average. Leo and others who keep blaming short-traders are causing more harm than good. The stock can go down for many reasons... Dilution is a big part of it... Also, the PPS has been on a steady decline since Jaunary, not the huge collapse that's being discussed. The slow, steady decline tells me there's large sellers in here... Could be Aruda, Aspire and so on.... Aspire is in the business to make money, why wouldn't they sell shares at-a-profit? I doubt they lend money out and not protect themselves with stop-loss orders.
Amgen and Netflix Short Stats...
Look under share statistics.... It's the market, everyone's stock is shorted... CTIX short percentage is comparable to king biotech Amgen.
Amgen's short percentage of float 1.5 percent.
http://finance.yahoo.com/q/ks?s=AMGN+Key+Statistics
Netflix short percentage of float 10.4 percent
http://finance.yahoo.com/q/ks?s=NFLX+Key+Statistics
Short Trading Stats for CTIX... 1.3 million shares were shorted as of April 30th... So Leo blames short traders for the stock decline since January? The decline was brought on by Aruda, Aspire and traders... Sending out a memo on this topic is childish and hides the main reasons for the decline... The short interest has not increased on average in a year. So, where does Leo get his facts I wonder? Less than 1 percent of "total outstanding" is no attack!!! Look in the mirror Leo!!! When was the Nasdaq application REALLY submitted?
http://www.otcmarkets.com/stock/CTIX/short-sales
Comparing Amazon and Tesla with CTIX is laughable... I wonder if Tesla's or Amazon's CEO worried about chat-boards? They concentrated on shareholder value, not providing false time-lines to prop up the shares.
Drano, Of course, you fail to mention all the biotechs that go under? LOL
BigK, what decides the success or failure of any public company are profits. Regardless of short traders, markets, regulation and so on... An up-listing provides more protection, but there's no free-pass for success. Boils down to trials and how long the process takes. The chat-boards should not be factored into anything... It's a public forum that's regulated by moderators...
Funny, Leo caused his own problem by mentioning up-listing several times since December. Maybe, he learned a lesson on promoting a event which is still pending? Short traders are on every market, so he better get used to them. His other alternative is to go private and avoid such common practices...
Drano, Who really has the facts here? It's an opinionated chat-board that draws all interests. Something is clearly not right when the PPS drops (40 percent) in 4 months, while the press releases paint a different story. Again, whether it's missed-timelines, tainted market, shorts, Aruda and so on... It's all a guessing game a this point... I don't believe anyone here said a RS would happen... I believe, it has to be among discussion as a way to draw interest and keep firmly above PPS standards.
Drano, I guess the flip-side to your argument are "paid pumpers" known to exist on OTCBB chat boards. Plenty of those on this board when this was trading at new highs. So, what we really have here is a normal bull/bear chat board open for discussion. You can choose to believe every word from management, but it's the little investor who usually loses out on penny stocks, while Aruda, Aspire and CTIX management make their millions...
doubleup, The BOD's came on much later than Feb 5th. The big question is when did Leo submit the Nasdaq application? If it was after the BOD announcement, then we could be looking at another few months. Also, the PPS is a growing concern now. Potentially a huge mistake by Leo by providing false time-lines....
faraifarai, Just chatter? A RS has to be on-the-table as a way to protect the company from being de-listed once up-listed. Just because CTIX ups to the Nasdaq, does not prevent the PPS from falling. So, doesn't it make sense to have a big cushion and help draw new buyers in? A stock below 5 is considered a "penny stock" and prevents most firms from buying. Yes, it's better if they don't do a RS, but the PPS will dictate they're direction...
Big volume is a million plus.... Going to take (2 million plus) to flush the toilet of this current downtrend.
daydreaming, Shorts don't sell shares, they cover they're position by buying the shares back. What's driving the price down is both fear and dilution more than shorts... If anything, covering short positions can cause a sharp rally....
Some examples where a RS works. It's not a killer like some here are suggesting.
http://seekingalpha.com/article/1561812-when-does-a-reverse-stock-split-make-sense
So when does a reverse stock split make sense? It makes sense when you have a small company like Marathon Patent Group, a company that offers investors a repeatable business cycle with exponential growth, strong underlying fundamentals, proven producing assets and a highly scalable business plan. With low overhead and tremendous earnings leverage that should increase as operating cash flow funds new patent acquisitions and additional licensing campaigns, institutional investors could soon flock to the name. Marathon affecting their reverse split opportunistically opens the door to the approximate 80% of the investment community previously precluded from investing in the company while trading on the OTCBB. Marathon Patent Group now has both a capital structure and currency more commensurate with both the company it has become and the fundamentals that underlie it.
The reverse stock split will reduce the number of shares of issued and outstanding common stock from 65,858,810 pre-split to approximately 5,066,063 million post-split.
Some good examples of companies that have done very well after a reverse split are American International Group (NYSE:AIG) and Coeur Mining (NYSE:CDE). Both had more than doubled within months of doing reverse splits and serve as good examples of companies who have seen dramatic increases in shareholder value because of it.
Drano, Surely you know everything that's being discussed behind closed doors? Leo made those no RS comments when the PPS was firmly above 3.50. At this pace (PPS decline), there won't be an uplisting without a RS... Leo needs to sound the trumpets!!!
If Leo can't convince "potential investors" to invest soon, it won't make a difference how good B, K and P might be? The PPS is their lifeline, while Aspire/Aruda hold tons of shares.
I found the original disclosure of ownership. Says each Aruda is a 50 percent voter of interest. Again, good question is how they're broken down as percentage ownership? Together, they own over 5 percent... Although, dilution has cut into their percentage.
http://www.sec.gov/Archives/edgar/data/1355250/000117152014000632/eps5855.htm
Thehound, I understood... GLTY
TheHound, the question is what name were those shares registered in? Some say it was in both Aruda's(husband/wife) I'm sure CTIX protected themselves from handing out 5 percent ownership. Exactly why they spread the shares over 16 months.
Does Aruda have to file a disclosure? Shares are rewarded over a period of time. So, Aruda's "percentage of ownership" may not be enough to file? It used to be 5 percent, not sure now? Thanks GLTY
Thehound, CTIX traded over 4 in mid-January, unless, you believe Aruda has not sold one share? I'll go on record and say Aruda has been a seller since the settlement. How many shares, only he knows.
I'm assuming the strategy behind the shares spread out over 16 months was to prevent a complete dump of shares. However, since CTIX does not trade much volume, a few hundred K here and there surely can move the stock. Especially if it's market orders. I'm not saying Aruda is totally responsible for the 50 percent decline, but probably a good part-of-it.
Menon acquired all of the rights Aruda claimed in the Kevetrin patents in return for (i) the transfer to Aruda and designees an aggregate of 16,000,000 shares of stock in Cellceutix over a period of 16 months, currently owned by the Menon Trust
Thehound, Where were you? Settlement took place last August. 16 months of shares until this January 2016...
http://www.sec.gov/Archives/edgar/data/1355250/000147793214004859/ctix_8k.htm