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niczar......
Here are a couple of links which give you a pretty good idea as to SEC Form 4 and Form 144 (restricted shares) filing requirements. If you ask me, I say our little shark hasn't been living up to her responsibilities.
http://www.sec.gov/answers/form345.htm
http://www.sec.gov/investor/pubs/rule144.htm
10% OWNER
AGM = Annual General Meeting (Shareholder's Meeting)eom
Only thing it says to me is that around thirty thousand dollars changed hands today. Very impressive! LOL!!
Unless he's stranded with the company's secret PR pouch on a Swift Boat with John Kerry somewhere in The Delta, I see no apparent reason for shareholders not receiving SOME KIND of an update by now. They do have modern telecommunications access in Nigeria ya know!
You can short the U.S. housing market. Check into the S&P Housing Futures Market on the Chicago Merc. if you're interested.
Jimmy:
You should be able to figure it out, but it will probably take some time and basic mathematical calculations. Just remember that unless you specified to your broker otherwise, every sale is on a FIFO (first in first out) cost basis. This means that the "cost" of every sale you make is the cost of the earliest (first) purchased shares of that particular stock in your portfolio until those purchased shares are exhausted. I know it's a bitch having to divy up and move the share count/cost forward, but it gets easier once you get the hang of it. There also could be some Wash Sale issues, but those generally "wash" out over time. Etrade will take you back a few years as far as your purchase/sale records are concerned. Good Luck.
Drifter...Just wondering why you think that a pre-purchase will happen in the next two months rather than in the fourth quarter. I'm only asking because it seems that our production capacity might be a bit limited until the factory is completed HOPEFULLY by the end of the year. Gotta run. TIA
Hockey,
Many institutional investors buy penny stocks but most avoid them. Many mutual funds are even prohibited from buying them, but you're misinformed if you think no institutional investors buy pennys. Here's a penny that I used to trade and which is 10% institutionally owned.
http://finance.yahoo.com/q/mh?s=PRW
I guess I was on a tequila binge during the big >.25 run.
Please explain how ANYONE has helped this board and members a lot when we're trading at these levels? I mean, the goal here is still price appreciation isn't it? LOL! In all seriousness, I'm still not overly worried. I'm holding strong and just starting to nibble again.
Website Typo:
"Xechem Nigeria is currently working to equip the laboratories and complete the construction of its state of-the-art pharmaceutical manufacturing facility. Certain laboratory and other equipment necessary for the production of NICOSAN™ have been acquired or are in the process of fabrication and Xechem expects that the plant will be ready for full-scale production by 2006."
I WISH!
To say this stock has an "intrinsic value" equitable to a 16 million or less market cap is ludicrous at best. Among other things, there are hundreds of other companies out there with "shot in the dark" prospects which trade at MUCH higher market caps. As you've noticed, we are already in the production stage of what appears to be a very promising product. Its day will come soon enough.
Nice job Mauroe. Glad to hear we're beginning to penetrate the Lagos market.
XECHEM INTL INC (U-XKEM) - News Release
Xechem International Announces Change in Its CEO; Offers Update on Nigerian Operations
2007-07-12 09:15 ET - News Release
NEW BRUNSWICK, N.J. -- (Business Wire)
Xechem International, Inc. (OTC BB: XKEM) Xechem International announced today Dr. Robert Swift, a member of Xechem’s Board of directors, has been appointed by the board of directors to take on the role of Chairman and CEO/President on an interim basis, replacing Dr. Ramesh Pandey, who will continue to serve on the Company’s board of directors. Though no longer charged with the day-to-day operations of the Company, Dr. Pandey is expected to continue to play an advisory role with the Company and discussions are ongoing to formalize a mutually acceptable arrangement with Dr. Pandey and to resolve various financial and other issues related to his departure as Chairman and CEO.
Dr. Swift was asked by the Board of Directors, to provide the Company with the experience, expertise and foresight to take the Company to the next level of success. Dr. Swift has a Ph.D. in Biochemistry from Michigan State University and an MBA in Finance from Indiana University. He has served as a senior scientist for a major pharmaceutical company, a biotech analyst and most recently as a co-portfolio manager of several large healthcare sector hedge funds. His broad experience in both the scientific and business sector of activities very closely related to Xechem International’s interests makes him a uniquely qualified individual to take the helm of the Xechem Companies.
According to Dr. Swift, Xechem’s new Interim CEO, “We are grateful to Dr. Pandey for his efforts in bringing NICOSAN™ to market in Nigeria. We look forward to the prospect of having continued access to his knowledge and experience as we move forward toward full scale commercial production of NICOSAN™”
Xechem also announced a cost-cutting plan that will increase the focus on its Nigerian operations. That plan is expected to include the closure of the company’s New Jersey headquarters with the office operations moving to smaller and less expensive facilities. According to Dr Swift, “There is not enough activity to justify the continued annual expense in excess of $250,000 to hold onto our New Jersey facilities. We can out source the clinical activities related to the development of 5-HMF, the Company’s sickle cell compound licensed from VCU, and NICOSAN™. Research on these and other potential drugs can be accomplished collaboratively with world class academic institutions like VCU and Rutgers At this stage in the Company’s development, the Board feels that all available resources must be focused on production of NICOSAN™ at our Nigerian operation and the filing of an IND for 5-HMF. After I spend time at the Nigerian facility, I will be better able to assess the requirements to reach full-scale production, as well as the timeline. We plan to have a shareholder meeting towards the end of the year to inform all shareholders of the progress we have made and what to expect in the future for Xechem.”
About Xechem
Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), antidiabetic, antimalarial, antibacterial, antifungal, anticancer and antiviral (including AIDS) products from natural sources, including microbial and marine organisms. Its focus is on the development of phyto-pharmaceuticals (natural herbal drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem’s mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN™ (to be marketed as HEMOXIN™ in the US and Europe). With the Nigerian regulatory approval now in hand, Xechem is now working on the commercialization of the drug in Nigeria and the pursuit of US FDA and European regulatory approval. In addition to NICOSAN™, Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University (VCU).
About NICOSAN™
NICOSAN™ is an anti-sickling drug originally developed as NIPRISAN by the Nigerian scientists at the National Institute for Pharmaceutical Research and Development (NIPRD). In clinical studies conducted under NIPRD’s auspices, the drug has shown to substantially reduce the degree of sickling of the red blood cells of those afflicted with the disease. While not a cure, the clinical trials have confirmed that the large majority of patients taking NICOSAN™ no longer experience sickle cell “crises” while on the medication, and even among those whose crises are not eliminated, the number and severity of the crises are substantially reduced. Through quality control/quality assurance (QC/QA) Xechem has standardized and verified the antisickling activity of the product, which is now called as NICOSAN™.
After the approval by the regulatory agency of Nigeria, National Agency for Food and Drug Administration and Control (NAFDAC), NICOSAN™ is being marketed in Nigeria since July 6th, 2006 on a limited basis. NICOSAN™ has Orphan Drug Designation in the US and EU countries.
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby.Such forward-looking statements involve known and unknown risks and uncertainties. Such risks include the risk that: (i) Xechem Nigeria will be unable to consummate the closing of its currently proposed bank financings; (ii) there could be delays and/or cost overruns in connection with the build out of Xechem Nigeria’spilot plant facility to a full scale commercial production facility;(iii) the Company and/or Xechem Nigeria could suffer significant dilution from the raising of additional capital until such point in time as they achieve cash flow break even status; (iv) doing business in Nigeria is subject to all of the risks of operation in a foreign country and associated political and regulatory risky and (v) operations of the Company could be disrupted due to the chronic limited availability of funds to meet ongoing obligations.
Contacts:
Xechem International, Inc.
Stephen Burg, Director
707-425-8855
Source: Xechem International, Inc.
Bottom Line:
If you believe that Nicosan is truly efficacious, this stock is EXTREMELY undervalued and one way or another it should EVENTUALLY reach the mass market. If you believe that it is only marginally efficacious or is NOT efficacious, then this company is basically trading near fair value with HMF being the company's only legitimate prospect in the pipeline.
I haven't agreed with many of Pandey's decisions in the past both operationally and financially, but as a true long-term investor I am convinced that Nicosan is very effective, and the primary question for me is simply how long it's going to take these guys to get this thing rolling WITHOUT further dilution. I didn't come here for a quick flip so I'm just going sit back, be patient, and keep my eyes open. No panic for me here at this point.
All IMHO of course.
Making, stop by my place in Irving on the way to the airport and I'll loan you my Confederate Battle Flag. I'm sure that'll go over real well in Nigeria. LOL!!
My thoughts exactly on the selling today BDB. I think the wording scared quite a few people off. Not me!
Investigational new drug application.
Not announcing Swift's compensation makes it sound very sudden, but then again he is INTERIM CEO and President. We shall see if that title sticks.
This is a very good thing and it was about time. Time for professional managers to do the managin, and for professional doctors to stick to the doctorin.
Mauroe, I've been considering that possiblity also. Even at 6 cents a share you're only talking 100 mill. market cap. Pocket change to the big boys. Wouldn't bother me a bit.
You guys are too much!! I can't wait to get the big scoop on the JERSEY INVASION!! LOL!!!!!!!!
If pressure for more disclosure is unsuccessful, and we are still in the current situation a couple of months from now, I for one would not be against us organizing a bit of a shareholder revolt. It wouldn't be simple or easy, but using this board as a springboard, we could set up our own password protected website with actual verified names and numbers.
If this board has anywhere near the share count numbers previously advertised, we are definitely not without power to effect change within the company. I guess for the moment I'm just sitting here on the sidelines hoping that they can get it together by summers end.
Uriah Heep's "Stealin" does kinda make sense as their theme song.
I am hoping that under a nickle will become history this summer. Way too much promise to keep us down here much longer. We too in Texas are dealing with a July 4th washout. It rains here every day now and seems as if Seattle has dropped down from the Northwest. Enjoying the mild temperatures but still getting tired of it.
Mine was just a 125k AON .0198 buy that filled 30 minutes before close. Fills and no fills seem to be totally random with this stock. A lot of BS going on.
Just grabbed some more at .0198. Man it's hard to get any below ask.
Does this mean that you're excited? LOL!! Glad I added this morning.
Something's telling me that it's time to buy, so I've decided to grab another million shares over the next few days. Think I'll buy them in 125K lots, so if anybody wants out please feel free to drop some on me. Let's see if anybody bites today at .0195.
That's me sitting there at .0202. Hoping someone drops some on me before I take off for Big Bend country this afternoon.
LOL! This board leans a bit to the manic depressive side. One day there's talk of wild millionaire's parties, and the next day people want to pull out the nukes. Everything will be fine. Just give it some time and don't watch every little tick. It's a lot healthier that way.
"without Margie (Blech) you wouldn't be posting about XKEM now. Getting here required a deal with the devil."
We should be finding kinder and gentler devils.
Obviously too much toxic financing is playing a major role here. It's like having a wicked hangover. You're not gonna want to get out of bed and run until your body is somewhat detoxified. It'll clean up soon enough if management finally puts down the bottle and goes on the wagon. Which reminds me, I think I'll start my wicked hangover with a couple of Margaritas. Good weekend to all.
Whoever first said that "there is no free lunch" sure must of lost a lot. The fact is that there IS such thing as a free lunch if you're fortunate enough to end up on the winning side. Unfortunately, that free lunch isn't always on this weeks menu.
WOW.....
I'm really impressed with the change in tone of this board. A few weeks ago any hint of dissention would have been taken to the woodshed and shot, but now any and all opinions seem to be embraced by the majority of posters on this board. Rather than strictly cheerleading (and some very good DD), the board seems to have evolved into more of an open and honest discussion forum. Kudos to everyone for that as good things generally come from open dialogue.
A far as the letter is concerned, I am generally all for it. The letter makes some very valid points, and more often than not management needs a good kick in the butt before they begin to recognize the needs of common shareholders. I would think that the timing of the transmittal should be dependent on a number of factors. Not to disparage the guy in any way as I know nothing of him, but does anyone here know Mets personally?
His past experience in dealing with management, his overall demeanor, and his plan of presentation among other things should affect whether the letter is presented before, after, or during the meeting. If the general consensus is that he is very influential, then maybe holding off until during or after the meeting would be the prudent choice. If not, then by all means fire the letter off ASAP. Sounds like a tough choice either way.
Also, I am very much for xyz's "Business Wire" publication suggestion, but I definitely think it should be delayed until after we see the results of Mets' meeting. No need to go public before we attempt to stir up some action privately. I'll certainly contribute my ten bucks to the cause if we can manage it correctly. BOL, and I love this dissention!!
I'll get there eventually.
+equityseeker 3,875,000 (goal of 4,000,000) = 193,510,000
I could take her sailing in The Gulf if you'd like?