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I'm here too and can think of a few possible explanations, but they're just speculation. Interesting.
"BTW. I know you aren't trying to drum up a law suit."
Correct! :) While anyone can sue anyone for anything in this country, I don't see any evidence of fraud or any other basis for a lawsuit against the corporation. If there's an internal difference of opinion or perhaps a power struggle, as Joby's recent communications suggest, that doesn't mean that the SoS filing was "fraudulent" or even simply "unauthorized."
"shareholders can sue the company IMO"
For what cause of action?
As has been posted before... the insiders paid .07/share for preferred stock, not for common. That equates to about .045 per share of common based on the conversion rate for the preferred shares.
"Seems like there is always a catch with EIPC and that's why it sits at 2 cents."
Yes, exactly. The catch is that people seem to be waiting for actual revenues.
1. Private companies can do restructurings.
2. You can't.
Nice update.
ALR Technologies Updates Shareholders on Its FDA-Cleared Diabetes Management System
ALR Tech Meets With U.S. Business Leaders, Policymakers: Talks Focus on How Health-e-Connect Can Improve Patient Outcomes, Lower Healthcare Costs
Feb 1, 2012 9:22:00 AM
RICHMOND, VA -- (MARKET WIRE) -- 02/01/12 -- ALR Technologies Inc. (OTCBB: ALRT) (the "Company"), a healthcare technology company, is pleased to provide shareholders with an update on corporate developments since receiving 510(k) clearance from the U.S. Food and Drug Administration for its Health-e-Connect (HeC) System for remote monitoring of patients in support of effective diabetes management programs.
As President Obama prepares to submit his 2013 budget proposal, ALR Technologies executives have been regularly meeting with business leaders and policymakers nationwide to discuss how its innovative technology platform can both improve patient outcomes and curb spending. The Company's senior leadership team is demonstrating how the company's Internet-based diabetes management platform, HeC, uniquely supports mutual priorities around improved patient care, healthcare cost-containment, accountability, and job creation.
ALR Technologies President and Chief Operating Officer Lawrence Weinstein, stated, "Health-e-Connect has enormous potential to impact the fight against diabetes, one of the most common -- and expensive -- chronic diseases facing the nation today. One in ten Americans is diagnosed with diabetes and the cost to the U.S. is estimated at $174 billion annually, according to the American Diabetes Association. Since receiving our 510(k) clearance, we have made great progress in conveying the benefits of the HeC system to elected officials and industry leaders. In late 2011, we relocated our headquarters to Richmond, Virginia, keeping us centrally located for the ongoing meetings and presentations. The relationships that we have been building is putting us closer to what we believe will be a very successful product launch in 2012."
"There are many reasons that diabetes is so costly, including disease prevalence, poor patient adherence, and lack of accountability around blood glucose self-testing supplies covered by both public and private payers," added Sidney S. Chan, Chairman and Chief Executive Officer at ALR Technologies. "Recent reports from the U.S. Department of Health and Human Services, Office of Inspector General (available to the public at http://oig.hhs.gov), indicate the loss of nearly $218 million annually from the Medicare program attributed to poor documentation around self-testing supplies. These statistics do not account for losses incurred by Medicaid or private payers. Improving accountability around diabetes self-glucose testing supplies alone could save the U.S. healthcare delivery system billions of dollars over the next five years."
Mr. Chan continued, "A recent study from the Temple University School of Pharmacy indicates that the U.S. could save up to $8.1 billion annually by improving patient adherence to diabetes treatment plans. Currently, there is very little oversight around the buying, selling and appropriate use of diabetes self-glucose testing supplies. Attempts at oversight are fragmented, primarily paper-based, and rely on unverifiable patient reporting. Our HeC system provides solutions to overcome these obstacles and potentially save the country billions of dollars while providing better healthcare for its citizens. We feel that the timing could not be better for our company and shareholders as we are emerging as a leader in the chronic disease management space."
While the Health-e-Connect platform has been initially configured to support diabetes management initiatives, the technology has vast potential to assist in the management of a variety of chronic disease therapies.
About ALR Technologies Inc.
ALRT Health-e-Connect (HeC) System is the principal product of the Company. HeC is a web-based patient management platform for medical professionals to improve compliance and management of care plans of patients in their homes. HeC is currently programmed to assist healthcare providers caring for diabetes patients. The platform will be expanded to cover patients with other chronic diseases. More information on ALR Technologies and its products can be found at http://www.alrt.com.
This release contains certain "forward-looking statements" relating to ALR Technologies' business, and these statements reflect the current views of ALR Technologies with respect to future events and are subject to certain risks, uncertainties and assumptions. When used, the words "estimate," "expect," "anticipate," "believe" and similar expressions are intended to identify such forward-looking statements. There are many factors that could cause the actual results, performance or achievements of ALR Technologies and its products to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Further management discussions of risks and uncertainties can be found in the Company's quarterly filings with the Securities Exchange Commission.
Public Relations:
ALR Technologies Inc.
804-554-3500 Ext. 704
e-mail: Email Contact
Source: ALR Technologies Inc.
Hmmm, 420,000 shares bid for at .0062 and another 99,000 at .0061, and earlier AUTO showed a 600,000+ bid at .006, if I recall correctly.
EDIT: what's a decimal place between friends....
The whole thing is very strange. One thing that I'm NOT worried about is an SEC suspension. The company has not released anything to pump the stock, which is usually what triggers regulatory action.
"I think you were very bullish on this stock
more than a year ago"
Yep, I was. I had a huge position in the stock from 2009 into last year. At the moment, putting my faith in the CEO appears to have been BY FAR the biggest and most costly mistake of my 25+ years of investing in stocks. I still believe he meant well, but his many errors in judgment, disregard of good advice from me and at least one other person, and general stubbornness dug the company a hole that they may not be able to get out of. I don't want to say more than that right now -- I've gone into a little more detail from time to time on the NEIK board -- but we'll see what happens in the next few weeks. All is not lost yet.
Obviously, express or implied criticism of anything you've said or done on this board would not be in any way appropriate. Of course, you recognize that it's often a thankless task being the primary conduit for information, when you don't actually control what management does. Been there, done that....
Good thoughts. However, it is interesting to see the bids start creeping back in. I bought back in today, just a few shares, and I'm expecting at least .01 eventually. ETMM and NITE probably have other sell orders below .0139 beyond the 55,000 that they're currently showing, but it's just those two MMs so it could be pretty thin. If someone takes out .008 and taps .009, the chart may start to look interesting.
What sorts of "scare tactics" do you think you've observed?
And now we have entered the Dump phase.
Well, you're certainly doing your part, since your newsletter has pumped it four separate times already this morning. All in the past hour.
Those sells are probably buys.
Ya think?
There are good lawyers and bad lawyers :)
Now there's a statement with some teeth in it.
[Sorry, too obvious?]
"Does a 1 for 300 R/S with 63 MM O/s and 150 MM A/s make sense to you? If my math is right, that will leave a 2.1 mm O/S and 5 mm A/S."
Actually, if they reverse it 1-for-300, the post-split outstanding will be 210,000 shares (until they issue more).
A reverse split affects the outstanding shares, but generally not the authorized shares. The idea is to leave sufficient authorized but unissued shares to use as currency for acquisitions.
In a typical reverse merger, the shareholders of the company being vended in usually receive 90% or more of the shares of the combined company. Therefore, with 100 million authorized and 63 million outstanding, there's no doubt that something was going to have to give -- either a reverse split or an increase in the authorized. It's the timing of this news that was the biggest problem, and the fact that it is 1-for-300 rather than 1-for-20 or 1-for-30.
Of course, this looks like they're setting it up to be a holding company, as I posted a few days ago, rather than doing a typical reverse merger.
I wasn't watching every minute, but I don't think the offer was below .075 at any time today. I had a bid in at .0601 earlier, which was the high bid at the time, and someone else has one there now. If you want to buy it, you can put in a bid at .0602 or higher.
Nope. There are undoubtedly lots of sell orders between here and there that aren't showing.
All of that seems logical to me. Wish I had some from lower prices.
All-or-none orders will never be publicly displayed.
Your seemingly problematic regarding departure of XXXX share price.
Is that Peter Noone from Herman's Hermits?
XXXX, a possible merger with or buyout by Motorola. Worth to take a look!
Company calls itself "a leading provider of mobile applications software" but stock has flat-lined at .01.
comon lets smack those 7's...
Agreed. Long-term bag-holding after a failed run is never going to be the "way of the future," IMO.
Long-term bag-holding after a failed run is never going to be the way of the future, IMO.
... is what makes this companies IP unique.
This is why XXXX has yet too wavier in Price
One might think the "too" is just a typo, but he does it 100% of the time.
I want everyone here too know I'm not here too step on anyone's feet
Looks like it's ready too hit .005 from Oct.
since 'dilution' seems too be a key word
hold/play according too your DD
I think we have to do a winner-take-all round of rock-paper-scissors.
But I'm not confronting anyone, only quoting from the 10-Q. That's still legal in New York, isn't it? I like PAOS (a little) but they're going to have to put some more optimistic statements in their next Q to keep people's interest. The insiders buying preferred at the equivalent of .045 for common was nice, and may have put a floor under the stock price, but I don't expect a big price run as long as the prognosis for Freundlich's business is iffy for the short-to-medium term.
"increase revenues quarterly, show growth"
Actually, the last 10-Q reported major percentage drops in year-over-year Total Net Revenue and Gross Profit. The biggest problem may be statements like this, also from the 10-Q, suggesting that the declining revenues may not turn around for awhile:
"The reduction of the Company’s sales to the Department of Defense is due to the Department having substantially reduced its acquisition of fasteners which has reduced the Company’s sales opportunities. However, toward the end of the period there were a number of new solicitations which have not yet been awarded. For both the most recent quarter and the year to date, sales to the Department of Defense are down by approximately 50% in comparison to the prior year. Although non-government sales have improved on a year-to-year basis by approximately 10% for the quarter and 20% for the year to date, this has been insufficient to offset the loss of government business. While the Company believes that the sales will return to their prior levels, since the Company’s sales to the Department of Defense are for consumable items, there is no certainty when this will occur."
Perhaps. He may also have gone out with D'Ho.
What's with all the people who don't know how to spell "yeah"?
We have "yea":
Yea Im reading the statement
And "ya":
Hells ya bud, it's moving good!
oh ya....valuation is crazy under rated here
And "yeh":
yeh well whos the arse holes selling really its a joke its gone right down and i agree with ya hold let it run but oh no you got the wankers that sell,but you cant blame them can ya
And "yah." But this guy doesn't know how to spell d'oh, either:
yah, it looks good; but no buyers, D'HO!!!
Looks like I picked a bad week to quit.
"Self confindance"?!
I believe Young Alex is correct on this one.
Nah, he wouldn't do that. He'd say "check the tape for my response" and immediately print a 300.
I never get tired of reading those. Love 'em.
Here's my version of a MM signal:
"Hello John? It's Bill. I need shares of XXXX. Can you sell me some?"
Much more plausible, but impossible for penny players to analyze for *patterns* and *aspects.*
OK, I'll whine and subtly bash. I suppose this new website means that Morey ultimately couldn't find an appropriate reverse merger candidate on his own, so he sold the shell (or the majority thereof) to Marchi. Now I guess we'll soon see whether Marchi has a particular deal pending or is going to use the shell as a holding company for multiple future deals, as it now appears to me.
If it's the latter, the basic stock structure should be pretty much intact, so we'll get a pop when the first thing is announced.