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I stand corrected 2 months.
1400, Yes, I would say a good majority of the shares are in the red that have been purchased since the "big rally" back in October. There were a few trading days where the stock dropped below it's current level, but that's been it. Again, this stock trades only on news... Not giving up, but this is the reality until Leo forms a board and a partnership occurs.
That's great, but down 30 percent since the CC in SF. Depends on how you look at it... Most of the shares purchased the past 4 months are down.
Leo setup a CTIX Facebook outlet for such news. This is Leo's second President Obama PR.
That's nice to know, but not worthy a corporate PR. Leo is scoreboard watching again. Keep the PR's coming....
Yes, it raises a red-flag for the auditors. But it saves money, until one-day Leo can hire one. They should be able to fill the BOD's.
Nasdaq requirements are a full-time CFO. I'm not sure how they distinguish the CEO/CFO as one or 2 positions? The lesser markets have no discrimination for duel roles. CTIX hired a COO, so maybe the CFO separate from Leo is not needed.
I don't know Leo, I hope he does the best job for everyone. However, rules are put in place to protect shareholders from management. Having board of directors, a CFO, auditors and a annual SH meeting are all requirements for the NASDAQ/NYSE. The reason why Leo can't uplist is that he has none-of-the-above. Surely, Leo knows this and hopefully he's working on it.
They'll possibly need a CFO and auditors as well. There's more to up-listing than just the financial requirements.
https://listingcenter.nasdaqomx.com/Material_Search.aspx?cid=34&mcd=LQ
SEC rules and the Sarbanes-Oxley Act impose heightened obligation on the CFO of a public company, including the requirement to certify the company's periodic financial statements. Given the importance of this role, Nasdaq generally requires listed companies to employ a full-time CFO.
Yes, but surely nobody can second guess the great Leo? To not have board of directors is a joke and nobody here can defend that. Leo talks a big-game, but his actions are nowhere near the real business world. Who's looking out for the shareholders? When's the meeting?
Why don't you call Leo and ask him why he doesn't up-list? You have everything figured out? Business is not about up-listing to please a few, it's about maintaining a market level. Right now, they're on the border of qualifying, so the smart move is to wait. They have other alternatives as well... Also, I guess you have no comment on CTIX having no BOD's? Leo should be focusing on a board, better financing, then play ball with the big boys and up-list.
Again, you guys are missing the point... Leo can work magic to uplist, but can they maintain those requirements? Karin also agreed with me, that Leo needs a cushion before he ever up-lists. Sometime maybe in 2015? Hundreds of stocks are delisted every year. Trials aren't considered assets, so the cash raised won't last long.
Because you bought shares "a long time ago" your not concerned about the finances? Geez, I'm in this because of the potential, but there are concerns that the CEO needs to address. Big-time Investors would never touch this stock with no BOD's. Also, have they ever had a SH meeting? The trials are out of Leo's control, but he should form a board and announce a meeting. That's fiscal responsibility and shareholder friendly.
No they don't, They would need to raise additional capital/assets. Leo would have up-listed by now if they qualified. After all, isn't the paperwork on his desk? Also, what some are also forgetting, are the minimum standards that need to be met... So they uplist, then a few months later get delisted? What does that gain? There needs to be a cushion before Leo ever signs those papers. Also, I wonder if board of directors need to be formed? Right now, they have none.
They can be committed all they want, but they don't qualify.
To me, the Amex is much better than what they trade on. Leo, can always upgrade to the Nasdaq once they're financials/PPS improve. Making statements, "about paperwork on his desk" caused all this talk. Now with the PPS "unstable at the moment", there's not many options.
The 4 dollar PPS requirement is going to be the toughest feat. If there's further dilution, sustaining 4 could be an even longer shot. They have one other option than the Nasdaq and that's the NYSE Amex market. It's still an upgrade from where they are and has less "minimum" requirements than the Nasdaq.
http://www.venturelawcorp.com/listing_requirements_amex.html
vip999, Nobody is questioning who cares or not... My investment in CTIX will be proven correct/incorrect from trial results, not from a SA article. Those that are bothered by a public forum shouldn't be in the market. Every investment has the negative articles from Apple on down.
All these IHUB posts about a SA article tells me people are insecure about their investment. If someone wants to write a negative article who cares... It's natural for all investments to have bulls/bears. The more attention this article gets keeps fueling the fire. Simple math here, either CTIX succeeds or not? The jury is still out until a drug gets final approval. With zero sales, it's hard to pinpoint what the company is actually worth. Arguments can be made from both sides (bulls/bears).
Really, so it's negative to discuss the Ceo's
performance? I guess you have no answer why CTIX has no board of directors and an annual SH meeting. But I guess, since you don't bother to care it's not a concern. However, to potential investors not having those things is a no-no... I have money invested in CTIX, but I won't be buying more until they change their corporate structure. It's a speculative biotech, with a long wait for possible sales. GLTY
Miles, I don't understand why "confident shareholders" really get bothered by "negative chat" on a board? I think it's fair to discuss the job of any CEO good/bad. Nobody takes more heat than the President of the US. Going back to Leo, he's had mistakes the past few years. To be blind of those and not discuss is not beneficial.
To make a statement "multiple times" that an up-listing paper is on his desk is childish. To issue multiple PR's on the same subject is suspect. Hyping biotech conferences is another error in judgment. PPs down 30 percent since San Fran. The biggest blunder is not having board-of-directors and an annual SH meeting. That tells the big investors to stay clear....
There are things Leo can do while trial news awaits. He can put together the "board of directors" and schedule their first SH meeting. After all, if they want to be taken serious by Wall-street, they'll have to structure themselves appropriately. Up-listing is an afterthought until the PPS can be more stable above 4. Then, there's the "next round" of financing that will happen. Will they partner with a more credible firm, or stick with Aspire? A better choice would be to license off B for a percentage of sales. B is their closest drug to market.
Flippers? I have a hard time believing people would make a living buying in and out of OTCBB stocks? I believe it's more momentum buyers who feast on news and move on after a profit. There's also other factors causing this... Aspire would be crazy not to take some profits above 3. After all, are we sure their other investments are doing well? There's also the patent claim winner who owns tons of shares. Charts do not work for OTCBB stocks with zero earnings. I always chuckle when I read the chart posts. What does the chart say now? LOL
Amazing how trading activity comes to a complete halt? This stock is too easy manipulated both down/up. The news yesterday was great, but was just a follow-up piece from the conference. Dean held that PR for a falling PPS. Now going forward, CTIX will have to wow the investment world with hard facts and new developments.
Interesting, stock was up 34 percent yesterday and I knew we'd see the flipper/market maker posts today.
Yes, 10 percent is huge, especially all the hype that surrounded yesterday... Hopefully, next years biotech show is played down by the CEO? There was no follow-up PR on the event? Guess, Leo is saving that for later this week.
Karin, 5 or 6 trials might cost them 25 million. There's also other expenses (hiring/travel) that will rise as the company grows. The key is where the PPS will be when further dilution occurs... At 4 PPS, they have a little buffer, but up-listing could be more difficult as a result. That's why Leo is cautious of up-listing, as he's right on-the-border of the minimum requirements. I agree with you, I don't see an up-listing until the PPS is safely above 4, probably after any financial agreement is reached (Aspire or ?) GLTY
Blame the shorts? It could never be profit taking or just disappointment at yesterday's conference? Possible, that the same short traders were the ones bidding the PPS up from the start? That's why I don't get overly excited about biotech shows and the drama leading up to it...
My concern is the financing and by not partnering sooner, the next batch of dilution could easily wipe away a large part of last years gains. That would kill an up-listing as well. Leo can say what he wants, but 5 or 6 trials will cost them over 15 million. They also added a few new employees, so any large hit on the PPS is a killer.
Really, seemed like the staff was frustrated with K's trial taking so long... They don't have a large staff, so things progress more slowly. I don't blame anyone for selling out if they need the money, they can also buy shares back down-the-road.
I posted a few weeks ago, delays and disappointments go hand-in-hand with small biotechs. Just don't mortgage the house... It comes down to sales and how fast CTIX can deliver the goods. Are we talking 2017 now?
Nice presentation, but delays and more dilution are going to trap the PPS for some time. Most of the discussion was based on a long time horizon. An up-listing is going to be much harder with heavy dilution expected. 5 trials are going to cost them a large amount. Still positive, but I expected more from yesterday's conference.
You are correct, the biggest challenge from page 8 will be the 4 PPS. If the PPS falls below 4 for a period of time the company can get delisted... Thanks for correcting my error... I'm assuming Leo won't up-list until the PPS is comfortably above 4?
TOB, Read page 6 "financial requirements" for Nasdaq listing. They only have a chance with standard 4... And, they'll need 80 million in assets... Again, I'm not being negative, just providing the facts. Leo needs to read up on the requirements and if he knows them, he shouldn't mislead the investors. NYSE Amex is their best bet until they build up enough sales.
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf
Page 6, they need to meet standards of one of the 4. The 4th standard is their only chance, where they need assets of 80 million. Again, they will need sales of some sort, as they are far from having 80 million in assets.
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf
They can up-list to the NYSE Amex market as they qualify for standard 2 thru 4. Again, they CANNOT up-list to the Nasdaq market without a minimum sales record!!!
http://www.venturelawcorp.com/listing_requirements_amex.html
Again, they don't meet the current standards to up-list. Are they all-of-a sudden going to have sales this year? Leo needs to read the rules!!!
They can't uplist to the Nasdaq unless they have sales.
http://www.investopedia.com/ask/answers/121.asp
Major stock exchanges, like the Nasdaq, are exclusive clubs - their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.
The Nasdaq has three sets of listing requirements. Each company must meet at least one of the three requirement sets, as well as the main rules for all companies.
Listing Requirements for All Companies
Each company must have a minimum of 1,250,000 publicly-traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more then 10% of the company. In addition, the regular bid price at time of listing must be $4, and there must be at least three market makers for the stock. However, a company may qualify under a closing price alternative of $3 or $2 if the company meets varying requirements. Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360. Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.
In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
A company has three ways to get listed on the Nasdaq, depending on the underlying fundamentals of the company. If a company does not meet certain criteria, such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.
It doesn't end there. After a company gets listed on the market, it must maintain certain standards to continue trading. Failure to meet the specifications set out by the stock exchange will result in its delisting. Falling below the minimum required share price, or market capitalization, is one of the major factors triggering a delisting. Again, the exact details of delisting depend on the exchange.
So much for technology these days... No link, dead on arrival.
I think a better word than respect is "general awareness" of the company. Also, Leo has to establish "board-of-directors" before the "big investors" take this seriously. Have they (CTIX) ever had a shareholder meeting yet? For CTIX to be valued at (550 million) is pretty good respect...
The rumor being substantial news today. There's been 3 press releases leading up to today's conference. Again, Leo is the master of anticipation. I clearly recall last-years conference being a non-event (disappointment), so I'm hopeful the company has something new to discuss.