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So let me understand, XI, which has no legal claim on XN, will benefit when whomever decides that XN should be turned over to another group to manage it. How does that help XI. Will XN be able to transfer earning to XI?, I doubt it.
Will the management of XN look to XI as an asset or a liability? liability proberly. The last question, when all stockholders hopes relie on a positive outcome re: the bankruptcy, it seems most time and effort is spent on XN. I don't remember when an update re: bankruptcy proceedings was last issued. Flustration starting to settle in.
Thats the rub, If and when XN becomes profitable, there are paths to follow, buy a shell with no liabilities to become public, sell to another drug co. or remain private and reap the benefits. The question is will all be committed to the plan when large pay-offs are in sight.
The problem as I see it, is that if and when XN becomes viable, producing, earning income, with future growth, it would be natural to concentrate on the money maker, leaving XI to Swift/Burg. The need to run XN and the resolve to continue to fight for XI will be less. Why on a personnal basis would anyone spend time on a cause such as XI when the enormious fruits of XN will be looking at them.
In the event that XN becomes sucessful and XI is still lingering near death, the logical approach would be to let XN die and make XI the going concern. It appears to me that any and all funding should go to XI to bring that out of bankruptcy and then rejoin with XN, otherwise this whole effort of saving creditors and stockholders goes down the drain. I agree that their is a timing issue, if XN can easily be brought into production and be sucessful, then someone will do it soon. The primary focus must be on coming out of bankruptcy asap.
There is a sence of flustration showing on the Board. Some are adding to their holdings, others are just holding. We read the posts and hear that a great thing happened this Friday, but I can't disclose, we hear that major milestones are being favorably passed. what we need to see is real results reflected either in PPS or communicated to all. It is difficult to continue to contribute both money and support, when nothing concrete is forthcoming. At least lets see a timetable re: bankruptcy and funding and submissions to Court. In Xechem flustraton is not a good thing.
Somewhere in your posts, I thought there was an indication that financing was arranged.
Swift in India, Why? He is sourcing materials and manufacturing facicility for the derivitive. Whether he wins or loses the Xechem battle, he will manufacture a knock off. He is using Xechems capitol to pay for trips and front money. Much prefer to have a shell company to issue new shares, but will go either way.
Anyone notice the bid/ask, 0.0002/0.00003, large block sale on for monday. Lower we go.
Nothing wonderful happened in court, if something positive came out, it would be reflected in the PPS.
LMF backtracking from message 196823?
Continue prior message
This is what a hostile takeover is all about.
Since Xechem is about or is out of cash and saleable assets, there will no money left to pay both Swift/Burg, they will have milked the company dry. Since no money they may forfeit the management of the company, this is the typical path followed, liquidate all assets, milk the company dry, then leave a worthless shell for creditors and shareholders. Hard to Believe that Basu would let this happen. He has 7mm invested in Xechem. Must be a payoff somewhere for him also. Buy a company, sell all valuable parts, leave crumbs for creditors/shareholders.
Looking over messages last night I noticed that LMF stated that if current management is removed, Xechem would get liscense returned to it. Is that accurate,if so, there should be no question re: bankruptcy outcome. I believe that to be one of the most important achievements in a long time.
I would think that with present management under investigagtion for corruption, it would be unlikely that a judge would allow them to continue to run this company. I understand that the investigation is initiated by the Nigerian Govt. however once the judge is made aware of the charges, he could not allow them to continue to run company, this might occur prior to any bankruptcy decision.
This will go back to 0.00001 if no news. Uptick caused by volume without news, falling back to prior levels. Possible insiders know good news coming out at a later date, and purchased now to avoid any oversight, lets hope so.
Thanks for response, any real possibilities re: financing, that's the crux of the issue.
All the posts are interesting, howvever Xkemq has lost 1/2 its value in the past week. What's needed is follow-up with news. Would be interesting to know what caused the uptick, could this have been yet another sucker ralley?
whata happened at the hearing Friday? anybody. What is the timetable re: creditor/stockholder proposal? anybody. timetable for bankrauptcy release? anybody. A lot of smoke is there any fire? anybody,
Question why Xechem management is disputing the claims since bankruptcy will eliminate them. Possible that knowledge of stockholder plan to offer repayment to creditors is forcing them to offer a partial payment to creditors within their plan.
Most of the 32mm are sales, don,t see any loading. When you say exit, are you guessing, what is the basis for the statement.
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Interesting trading so far, 90% sells, yet still holding at 6/7, need news, someone expects new funding, management change and reinstatement of liscense. Don't think a sucker rally. Lets hope after all this time, the time for Xechem has arrived.
Two paths, up if there is positive news, reflected by insider buying, or a sucker rally as has happened before. Somewhat encouranging with yesterdays and todays trading, day traders and others looking for short term gain, marketmakers see sell orders and drop pps, after sell gone pps increases, marketmakers not selling at lower pps. For us, who have been in for a long time, it makes no sense to sell, we already rode the horse down to 0.0001. We took the greatest risk, lets see if it pays off.
Maybe a change from Xechem will be great in 2008 to Xechem will shine in 2009. Who knows?, stranger things have happenend.
Remember what happened on the last run up to 0.11, it gave the insiders an oppertunity to get out, once out, the stock fell like a rock to the current pps.There must be news to sustain the price and volume. Maybe so, if not use as a chance to get out.
Be careful of the suckers ralley, so far no new info re: co.
any solid ideas re: todays volume. In the penny world insider info is oommon, usually results in increased volume either buy or sell.
My mistake ask 0.0003 not bid, still good.
Bid 0.0003, first time outside of non-trading hours bid of 0.0003. 6m+ purchase at 0.0002, maybe start of something good. Marketmakers know more than most.
A question: Why would Basu/Swift and Co. want either Xi or XN? No liscense, no factory, substantial debt, no product. I can understand creditors/shareholders wanting XI and XN, they have a vested interest, but Basu and Co. gain nothing but a shell. The money Basu put in is gone, they have the formula for Nicoson and can produce a knock-off to sell over the counter. Why the battle for NI, something does'nt add up, something we don't know.
No bid ask 0.0003. No bid means its over.
How would facility use be any advantage to shareholders, the only fesable plan I see is that the licsense is granted to NI with Pandey in charge. Start producing and selling, the flaw is that nobody needs XI. The can start fresh with limited debt. I read once that Pandey signed personnally for notes, if this is true, could be motivation to restart XI. Looking bleak.
If this is not a ploy to remove basu/Swift then the game is over. wondering if anyone has more info. Really bad news.
Basu directing, who hired Swift and co?. He decided that producing in Nigeria is to difficult, the only way for him to recoup is to go outside. This leaves Nigeria holding the bag, 6mm in debt, uncompleted factory. They also see how he is screwing the shareholders besides the Nigerians, no confidence that any royalities will ever be paid. Pandey is a known entity with associations in Nigeria. Whatever he is, he is not an obvious crook, or he is the crook they can deal with. Who really knows? Just guessing.
Message on board states that NEXIM applied for a court order to prevent NI from accepting a bid on the Nigerian sub. If this is accurate it is very important, it places the Nigerian government on the side of the stockholders, The Nigerian bank being a major creditor. The Nigrian govt. has decided that they are not going to be saddled with a corpse of a company, not producing, while the current management sells to the developed world at a huge profit. The Nigerian people will then have to buy on the open market at inflated prices. Basu and co. misplayed their cards, the ace is held by the Nigerian govt., either Basu and co. agrees to develope Nicosan in Nigeria, or they will let Pandey do it. Looking better all the time.
Last day for bids for xn was yesterday, increased volume indicates no acceptable bids. This increases the odds that shareholder plan will suceed. Why continue with management that lead the company into bankruptcy. People with advanced knowledge buy. we all follow.
Never said that, just the opposite, the best that happened as far as stockholders was no bid. refer to past posts,
No volume, nobody is watching, NO bid on XN is good news, it was an important hurdle. Stock worth more today then last Friday. Maybe time to buy while still under rador.Like to see a timetable relatig to bankruptcy filings, plan submission, review timing, etc. Useful when considering additional purchases.
As I guessed in my last post, no bidders for XN. This caused the activity in stock. Some bought on this news, it's irrelavent, the important thing is that the outlook is brighter now then before. If stockholder restructure succedes, and proper controls are in place, what we all thought the future of xchem was may happen. Lets see if there is any volume tomorrow.
It's ok, we all deserve to do the same. Let's hope that that's the case. Possibility there were no bidders for XN, then no pay-off for the creditors, this means that the stockholder reorganization looks a lot better, prior management, new drug,and good relations with commissioners. Our friend may know this and not be able to tell or may deacide to use info for own benefit, still ok. We all can go in tomorrow and buy at 0.00002.
LMF Where are you? any ideas re: volume relizing that about $2600 is the amount of new money.