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Monty..great job. This gets Nicosan on the world platform. Very important milestone. Under normal circumstances the stock should have spiked with a pr. Nevertheless, we are on the right track. Keep up the good work.
I think a trip to Monte-Go-Bay is more appropriate. lol
Is NIPRID the new management team?
Hi Monty, Steve told me nine states were purchasing Nicosan. Hope this helps.
Fiat, I have been thinking the same. SCD sufferers have grounds for a class action lawsuit against those keeping Nicosan away from them. Swift is definitely exposed.
Your points are correct but I think an acquisition has a place on the agenda. Dr. Pandey should sieze this opportunity and place a call to Pfizer. I would like to know if he has explored this avenue.
Pfizer or Bristol-Myers should buy Xechem out. $0.25 per share (about $875 million) is a steal for a product with over a $1 billion market. They may also find other uses for Nicosan. Instead, they are both trying to develop their own drug for SCD and they are failing at it.
Monty, have you tried talking to these guys? This is our best case scenario. I think.
I forgot to state that Burg told me Xechem Nigeria is producing Nicosan and they're currently selling in 9 states. Why are they keeping it a secret?
Shareholders have to put pressure on Swift to step down. I have written him 3 letters already. The last one I wrote, I told him we're contemplating a class action lawsuit against him and Burg.
I also spoke with Burg. He gave me the same story about Xechem India how Pandey hid true ownership from shareholders and how he overstated the number of patents that Xechem holds to the SEC. He also mentioned the $20 million debt and how he stands to lose millions of his own money.
I wrote them back and told them how these problems can be rectified. 1. Have Pandey amend the registration of Xechem India and turn over ownership to Xechem International.
2. Have Pandey file an amendment with the SEC to restate the actual number of Patents.
3. Turn over control to Pandey because NIPRID will not allow him to produce derivative Nicosan without legal ramifications. As a result, there's really nothing for him to re-organize. Xechem is a shell under him with no products to sell. Turning over Xechem to Pandey offers the best scenario.
Precious time is being waisted needlessly on litigation. We are two years into this mess with no end in sight.
Do we have to wait for the court hearing or can we start a class action now?
Guys, we have a job to do. We need to get rid of Swift, Burg and Ireti. HOW DO WE DO IT? Now that Dr. Biggs is gone who remain on the BOD and how can shareholders demand their removal? That's all we need to get XKEM back.
DD, I do get your point. My point is that as it is now, Xechem has no income and no assets to sell to pay its liabilities so the lawsuits are futile. They can drag on for 10 years and no one would get paid.
If Swift wins, he'll just walk away from it all. There'll be no Xechem and no payments of liabilities.
If we win, Pandey will get his back compensation and creditors will get their money back. This is just my point of view. I would like an attorney's.
Is Xechem Nigeria producing and generating revenue? If not, how are they going to get paid? Even if the lawsuits would not automatically result in the bankruptcy being dropped, it would be a first step in the right direction -- a positive news for the market as well as the value of the stock. We are all working toward the same goal. To defeat Swift.
It's very healthy for us to debate this instead of just believing. My point is whether it would be of help to us if lawsuits are withdrawn and all litigants join Monte in re-org. IMO if they do this, they remove the reason for the bankruptcy which is no money to pay liabilities.
Swift does have a re-org plan--to produce derivative Nicosan for sale in the US and EU. When you're in court, you can never be sure of the outcome. That's why I am posing this question.
I want Swift out as much as we all do. He is very arogant, incensitive and cruel.
Monte, please ask Lane if he thinks it is necessary for Dr. Pandey and all litigants to withdraw their lawsuits.
"If Swift's--we're done" that's the reason why I think Dr. Pandey and everyone in his camp should withdraw their lawsuits against the company and join Monte. If they do, they'll eliminate the reason why the company is in bankruptcy-- to erase its liabilities. As it is, there is no money to pay these liabilities so it is possible that the judge could grant Swift's reorg plan since he is the COO. We should explore all these outcomes so as to defeat Swift.
I agree with you. He should get out of the way.
If he wants to sell Xechem Nigeria, he should first finish the construction, ramp up production and build a sales force. Xechem should also show a healthy ebitda before any company would be interested.
He should know this given his background. As it is now, he leaves me puzzled as to his rationale. I am stunned.
I don't see the rationale behind what Swift is doing. If he and his family are bondholders, how do they expect to get their money back if he is so bent on destroying this company? There is no money to pay them back.
Write him a nice letter instead. State your views and ask him to step down. If enough people do so, we may be able to turn this situation around. What good is it to get information from his employer?
Monte...I think we should all email Steve and Robert (S&R) at the same time just like we did a year or so ago. It's more effective to say the same thing at the same time. Could you please put togther a paragraph or 2 for us.
I remember Biggs was very upset with our email. He recently stepped down under unknown circumstances. Maybe we can get the same outcome with S&R.
I just called Robert Swift. His wife said he's sleeping. I'll call him back. I think we should put pressure on him to step down. If anyone has his email, please post it.
Michael Duglas should play greedy Shakar Basu.
The book would certainly be a good case study for an MBA class as well as educational for the public and CEO's for that matter. We have everything except for a little sizzle.
How about a class action lawsuit?
The o/s is about 1.65 billion. A/S is about 3.5 billion
Where did you get this information (XeChem-now AESRX)? This is all very confusing.
Swift didn't PR the sale of 5-HMF nor informed shareholders who the buyer is how much 5-HMF was sold for and what the proceed was used for. Did I miss it? Everything we learned about 5-HMF was through Monty.
Mind boggling to say the least. I think we need a detective to solve this one.
We can chip in and donate a one way ticket to Afghanistan. I think things are cooling off a bit in Iraq.
Lochute..lol. Monty is an angel. You'll have to nail these guys to the cross to k...l them.
Rave...I am not a lawyer so I can't answer your question. However I think that because these lawsuits are in a bankruptcy court the scale could tip to the other side. Afterall, there is money to pay them.
The fact that we lost 5hmf makes me very nervous. I would like to see the Pandeys withdraw their lawsuits against XKEM and file one against Swift in the Civil Court for defamation.
This is just a layman's point of view. Hope I'm wrong and hope we succeed.
All parties involved including Dr. Pandey should drop their lawsuit. IMO, we can't have lawsuits on one hand and on the other hand try to get this company back on track. Lmf, have you asked Dr. Pandey and everyone on his side to drop their lawsuit and settle out of court. That's the first sign that all's going well. If the lawsuits are not withdrawn, the judge can reach a decision that's not in our favor. If that happens, we've lost everything.
Let it start with Dr. Pandey.
XKEM has the drug. What a shame so much time is being wasted on lawsuits. Why don't you email this to Swift.
I would like to see them on the tracks when the train starts to move. rofl
Hi Monte, please let us know how much to send and to whom. My check was sent back to me without any explanation.
We are all eager to defeat Robert Swift and hope that day is drawing near. As for a cruise with your wife, we'll be glad to contribute towards that too.
Thank you. We're all praying that you succeed.
I got mine back too. Is he working pro bono?
Excellent letter Larry. It would be more dramatic if you include what Swift did to the company. Recount everything he did from intentionally refusing to pay licensing fees for Nicosan to refusing to pick up equipments from customs and halting construction of the plants. Also relate how he sold 5-HMF and to whom. There is a lot to be included in your letter. We also have to copy the State Attorney General of New Jersey.
Thanks.
Have we sent a formal letter to the SEC? If not we should.
Well, people invest in stocks with the expectation of making a profit. The stock market is not a charitable organization as a result, Nicosan making it without XKEM means investors were scamed and those responsible should be held accountable. My opinion.
By the way if a family member of yours or a friend has a debilitating disease and a biotech company is doing research for a drug for the disease would you invest in the company or are you "combining hope for suffering with the hope for personal wealth"?
It has nothing to do with combining the hope for the suffering with the hope for personal wealth. It's about FIDUCIARY responsibility to shareholders in a free market. No one should feel entitled to defrauding others. I bet you feel that Robert Madoff's victims deserve what they got don't you?
That's what Monte and Dr. Pandey are working on. Who else is better qualified to produce and market Nicosan than Dr. Pandey?
I doubt NIPRID would give the license to any entity if Dr. Pandey really wants it. My opinion.