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Write the company. ckmac and hesontheloose are okay
If you don't like stock price manipulation, i doubt you have taken the hit either ckmac or hesontheloose have here..
Stock price is a fire sale bargain right now.. no doubt about it. It is a great price here... no doubt.. it is artificially depressed by Maxim, by the agreement that Maxim is breaching by shorting stock and actively trying to drive price lower. True value... I think much,much higher, even with dilution.. if this selling stops.. if company stops paying with stock (call company, plead that they stop), stock price could easily mover 10-20 times higher in a few months.
I have contacted investor relations.. neither Jenkins or Prince will tell me current outstanding shares or when decision was made to pay and how many shares they paid with shares in lieu of cash for principal and interest.
If you find out, please post here.
Market makers of mass stock price destruction need company to keep paying principal and interest with stock for downward price pressure to continue.. they are all short...
Just once if company would cease to pay with stock and pay interest and principal with cash.. viola.. we see a nice rise.
short term, You might be right. I guess I am hoping for a rally before I exit.. still holding out hope.. much tarnished that company will cease to pay principal and interest with stock..
Here is how I see it... .006 tomorrow could happen... or we could begin to rally a bit... it all depends on Maxim.. if he comes in and slams ask like today.. yes, I think we will see .006, if not.. we could rally to .009.. maybe higher.
My betting management will stop paying with stock seems like a long shot.. if they do, we are back over 2 cents in no time.. but if they don't maybe we drop to .005 .. hopefully not lower... selling is way ahead of future dilution.. just my take.
I think Maxim should be done soon.. within next day or two.
This is my fifteenth post for day, so I am done for day.
Recent Trades - Last 10 of 181
Time ET Ex Price Change Volume
16:00:18 Q 0.0077 -0.001 10,000
16:00:18 Q 0.0077 -0.001 34,953
16:00:15 Q 0.0077 -0.001 223,333
15:59:51 Q 0.0078 -0.0009 30,000
15:56:57 Q 0.0079 -0.0008 5,000
15:55:25 Q 0.008 -0.0007 1,000
15:53:11 Q 0.008 -0.0007 2,000
15:51:13 Q 0.008 -0.0007 10,000
15:51:13 Q 0.00809 -0.00061 10,000
15:18:11 Q 0.0077 -0.001 11
Thinking the truth can hurt. Sure not much level 2 support below where we closed. We shall see what materializes tomorrow. We shall see if Maxim re-enters to thrash stock down more. Did you notice, how Maxim brought ask down last couple days...right from the start? If company sees this and is not in bed with Maxim and realizes he is destroying stock price and that because of herd mentality of other market makers far more destruction than is merited has been accomplished..
Have you got updated outstanding share data or last payment of stock data from company? Me neither, but Maxim and convertible note holders are privy to this info and can trade on this inside information.
Not fair... I am ticked and I remain pissed... and I have written SEC, FINRA, the company, etc.. it may take shareholder lawsuit to get these guys head out of the uppa US part of their anatomy. I did contact an attorney today.. anyone want to join me in a shareholder lawsuit?
Maxim is acting as the go between ... the deal maker who brought both parties to the funding agreement together. The company paid Maxim 1.5 million for putting together the 20 million gross, 18.5 million net, after fee paid to Maxim agreement.
Maxim put the provisions into the agreement.. It also advised Rock Creek on the deal and has an company affiliated with Maxim as Rock Creeks outside Investment Relations firm.
It would appear to me that Maxim has some sort of a duty to Rock Creek and its investors.
They should represent the interest of the company and its shareholders, but if one looks at the agreement and what has taken place since, the agreement is clearly not in the best interest of either the company or investors. It is in the best interest of the convertible note holders and Maxim.
The company, management and board, is supposed to represent the shareholders.
Michael Mullan, Ted Jenkins and the board of RCPI entered into this agreement contrary to the best interest of the shareholders and without shareholder approval. One of the reasons Nasdaq delisted stock in RCPI is because shareholder approval was not obtained for first agreement company entered into with investors in June, 2015, and after it entered into more adverse agreement thru Maxim on October 15th, the stock was delisted on November 3, 2015. Michal Mullan and the board have not obtained share holder approval for the agreement as was originally required. Once delisted, the convertible note holders and Maxim waived the requirement for shareholder approval, but the shareholders have never waived their approval.
Disagree about choice. Per press releases and SEC filings, they are acting to negotiate with other parties to funding based upon their being in breach, but they have never mentioned how other parties are in breach as well and that other parties thru stock price manipulation conducted by Maxim, that certainly appears to include front running and shorting have caused the lower stock price and this needs to be addressed by Mullan.. Forget Jenkins, Mullan is the CEO and Chairman of the board, the buck stops with him.. Co clearly has a choice.. they need a good Securities lawyer.
Biggest news is if they stopped paying debt with stock.
to repeat previous post 26625, there is blatant selling by Maxim and others based upon insider information, because company is not making number of shares outstanding public knowledge, nor is it making public when they make decision to make debt payments, principal and interest, with stock in lieu of cash. How many shares they will pay and the dollar amount for the stock are not being disclosed by company to public, but insiders, including Management and board of company, convertible note holders and Maxim are privy to this information and it appears Maxim sells accordingly with an abandon... and due to terms in agreement as long as company does not call foul, does not recognize and act to stop breach prohibiting shorting by these parties, the scheme will continue... making money for shorts, Maxim and convertible note holders and defrauding shareholders and causing them large losses. At very least company needs to disclose what they are doing when they make decision and really they need to cease making principal and interest payments with stock and better yet, they need to get out of the agreement Maxim brought to them and which they trusted Maxim when they entered into agreement thru Maxim with convertible note holders.
Have you tried to call Ted and plead to stop making debt payments with stock.. and point out.. Maxim has a scheme here... things included in the contract and obvious worst efforts selling pressure Maxim has applied have driven price down from about a half a buck three months ago to 7/10ths of a cent today...
Forget the initiatives, and claims to be concerned when Jenkins and Mullan keep re-arming Maxim's selling of mass destruction.
Ask him, when will Mullan stop killing stock price by paying debt with stock and.. when will Mullan and Jenkins tender their resignations, fall on their swords, etc.. or at least do their duty of being fiduciarily responsibile to shareholders and right the ship?
Stock price did not break below 45 cents until Maxim leaned on it for a few days and broke support on March 25th.
Keep your records... Did Jenkins ever admit or acknowledge to you that he knew Maxim was up to no good?
All this initiatives ... disclosed or whatever.. what difference does this make when stock value is destroyed and company by paying debt with stock is responsible? I was hoping against hope Mullan and Jenkins would not pay debt with stock.. they led me to believe they would not do this. I feel betrayed.
I tried to sell a few shares yesterday and they were also ignored... there won't be any real buying until Maxim is thru and company stops paying debt payments with stock.
I have average cost of 30 cents in one account... I am not much of a trader... and buy and hold here does not work when company is paying debt with stock and thru Maxim who refuses to wait for buying to materialize and once again this morning came in with low ask at .009, then lowered it to .085 and then .082 all in the first 25 minutes of trading, giving stock no chance to rally or advance. Maxim has an agenda and the company needs to stop it. Mullan cannot hide this time, his good name will soon be no more if he does not act to stop Maxim's shorting and lower price manipulation scheme, parts of which appear to have been included in the contract for this very purpose.
Mullan is responsible, he needs to man up and stop this., he has allowed this to take place on his watch and done nothing.. He must act soon... shareholder lawsuits are bound to come up now and they are justified.
Stock moves up big time and shorts take it hard and deep if company just does the right thing and ceases to make debt payments with stock. This will keep stock from going to sub half penny, let alone hitting the triple zeros... and it might just be all that is needed for a return to a nickle, or at least a couple pennies.
Agree on IP, agree on science, but company needs to stop making debt payments with stock. Period. Never again... they are responsible for however new shares have been issued... and this is wrong. It needs to stop.
A shareholder lawsuit and or demand for shareholder meeting is needed today.
Maxim is destroying stock price for a reason.
The company not doing anything to stop it is wrong.
And... if the company is actually making payment with stock after based upon low price that has resulted from Maxim led downward price manipulation and shorting scheme, this is clearly not in the best interest of the shareholders. And, unless the company acts soon to defend its stock and cease paying with stock, it might very well be that Michael Mullan and Ted Jenkins are at the least negligently complict in the Maxim led scheme to profit from shorting stock and defrauding stock holders.
Call company and see what Ted says. Why is company doing nothing to support the price of its stock and if it has paid more debt payments with stock, why? How can they possibly justify doing this?
If he won't man up and at least address what Maxim is doing, then we need to report him. Write or call the SEC, report him for aiding and abetting.. in the short scheme Maxim is leading.
If company would acknowledge and issue PR that CONVERTIBLE NOTE HOLDERS ARE IN BREACH, and thru Maxim as their agent, they and MAXIM have violated key provisions of contract, including Prohibition against short selling and company intends to pursue any and all legal and civil options to stop the breach, get out of the contract, pursue damages to the company and shareholders and seek prosecution for any and all illegal activities committed by the other parties to the contract..
and that they have arranged at least temporary traditional funding to see them by, can you imagine how high this stock could fly?
Insider trading? When company makes decision to make debt payments with cash or stock and does not make announcement of this decision to the public and to its shareholders, but does to the convertible note holders and Maxim and Maxim as an agent for convertible note holders then trades on this information...
Isn't this insider trading? and couldn't and shouldn't company keep this from taking place?
It appears when decision is made.. usually between the last day of month and first day of following month preceding payment with either cash or stock on the 11th trading day of month which is around the 15th of a month... that Maxim has been trading on this information for some time and others have jumped in knowing the stock is often for sale by Maxim for about a week to week and a half beginning in the middle of the month.
Maxim has been making money selling on this information for some time now. Maxim sells when it knows payment will be made with stock and again when the payment is made. Isn't this insider trading, and the company has aided and abetted Maxim by not disclosing information to the public. Maybe someone should ask SEC, FINRA and even Jenkins why this is allowed to take place.
Doesn't the company have a legal obligation to make the decision known to the public?
It appears this goes deeper than this. Maxim appears to have been front running or naked shorting this stock dating back to February or March and probably earlier and appears to used insider information to short the heck out of the stock on June 1st and 2nd, knowing how many shares company would be paying to convertible note holders... when the public did not have this information.
The convertible note holders are in breach of contract due to the actions of their agent Maxim shorting the stock in violation of the short selling prohibition provision in the convertible note agreement. The convertible note holders might be instructing Maxim to do this. They could be just as guilty as Maxim. Maxim appears to have been doing this for a while, so they have ratified the actions. Also there exist a best efforts provision, prohibiting Maxim from just dumping shares on the market and requiring Maxim to make a good faith attempt to obtain the best price when it sells.
It has been implied by the company to a few posters here and on the yahoo message board by Ted Jenkins in telephone conversations that I can't prove, but it appears relevant, that the company was going to try not to make payments with stock at these low prices, which might be construed as misleading investors when in fact based on recent selling by Maxim it is indicated such payment was not only made, but not revealed to the public.
Re: 246,373 shares shown by Maxim yesterday...
My thought, what if he is broadcasting how many shares convertible note holders received, were paid by Rock Creek?
The number makes sense if we add two zeros. 24,637,300 shares this time, add that to the 24.22 million per google.. it is on the high side of what I would have expected, but with company bending over backwards to keep convertible note holders happy in negotiations due to breach of a few provisions that are the result of Maxim and convertible note holders acting in bad faith and breaking a few provisions like shorting the stock in rcpi and Maxim not making best efforts to sell stock at highest price possible... well... if true.. and it is a stretch.. then maybe we can get an estimate of how many shares are now outstanding... It appears we are at about 48.9 million shares.
Now if Maxims selling scheme resulted in him being about 25 million shares as of the 3rd of June, with most sold short on June 1st and 2nd, then he did not need to sell the shares, but he might want to make it look good for those watching. With often low ask yesterday and today... he probably sold another five million shares this week after selling about 5 million shares last week, but it could appear he sold about 15 million to those watching.. if they did not observe his backing off the ask when volume hit it on many occasions, so that while it may appear he sold 15 million shares in the past five days he has been back on the ask.. he probably has only sold 10 million so far. I am guessing he should be done by Thursday, Friday at the latest in this latest round of selling.
Stock should pinch once Maxim is thru
But, Maxim continues to punish stock after selling at higher price and keeps getting away with it.. he backs off lets someone else sell and then pushes ask down and causes price to fall.. He has been doing this for far too long.
Just a few minutes ago at 3:15 EST.. someone bought 174,800 shares from Maxim at 9/10th of a cent... immediately Maxim lowered ask to .0089... this reminded me of way back.. about 3 1/2 months ago.. when I bought stock at 53 cents... and immediately after I bought Maxim lowered ask to 51 cents... same game... they are selling this stock down until they are busted.. or reach max short position they want to hold.. too bad those 5% reporting requirements don't seem to apply to shorting. Fair is fair.. Maxim should have to at least report how many shares they are short... or convertible note holders are short..
and... no.. they are not selling current shares that company paid.. they sold those back at the end of May and beginning of June thru first fifteen minutes on June 3rd... they must have sold a minimum of 20 and probably 25 million on those days...
My broken record plea.. call Mullan... if you can't reach him call Jenkins.. write if you must.. plead with him to stop Maxim from destroying the stock price and the company.
I think RCPI would be a buy about here...
Williams %R is finally turning... or it is about as low as it can go.. either way this is my first its okay to buy signal.
Massive damage and pessimism.
Now for a moment anyway we saw some massive sized bids appear
I am going to have a hamburger and make some popcorn.. final two hours might be fun.. well at least less painful than the past week.
In my post 26571.... it felt like a low... bottom.. no bids... absolute pain... and now... here we go... now if only Mullan and Jenkins would sue for breach or at least address it.. stop paying with stock.. and get some penalties going companies way for a change... stock could be a nickle and maybe a dime in no time. still in.. still long... and a long ways to go before break even.. but I am standing...
My post 26571
"Stock is worth much, but Maxim just keeps selling it down...
Criminal... even with whatever new stock is outstanding.. market capital should be fifteen times what is reflected in stock price.
Maxim dropped ask to .087, joined by its so often partner CDEL asking .082 and bid is gone for moment... lets see if and when it returns.. this should be at or near bottom right now."
large bids being shown... hmmm
4,439,000 at .0082, 980K at .0083... thinking here we go.. bottom is in.
I think we have a bottom... at least for now... now if Jenkins will act... press release.. get Maxim to stop.. etc... we could fly... I mean that... potential is there.. stock is way over shorted right now. Still long... very encouraged by large bids.
Nope, it is illegal and unethical and in breach of the contract... what we have here in Maxim and when joined by others like CDEL are Market Makers of Mass destruction. They are short many million shares.
Maxim at bid at .0081... hmmmm
Here is how it worked... back in February and March Maxim began slow shorting as agent for convertible note holders and/or on his own... he got ahead of the decline... and then slowly sold into the decline... he had an average stock price requirement built into contract... of 45 cents... stock was above this just three months ago today until March 25th... and being short hundreds of thousands of shares before shares paid in March... he sold those shares in March and went more short... and this has progressed... to where by the end of May Maxim and CDEL probably had a net short position of well over 10 million shares... and then on June 1st and 2nd... Maxim shorted the living crap out of this stock.. hitting bids, etc.. and sold another 20 million or more shares... killing rally and setting us up for current new bottom.
Company is weak on financial side.. no doubt but the IP is very valuable.. the play here is whether company puts a stop to this. The SEC might stop it, FINRA might be a help, but Mullan and Jenkins need to sue for breach... the agreement was bad, but it has been breached... Maxim and convertible note holders are required to make best efforts to obtain best price and are prohibited from shorting. Hopefully company moves on this and shows they really care... that is the play.. not sure the odds, but with probably still less than 50 million shares outstanding and Maxim and CDEL and others short about 20 million shares... there sure appears to be some upside... we shall see.
Maxim and CDEL with ask of 85/100ths of a penny.. Maxim needs to be reported, stopped... this is ridiculous. Maxim is destroying the price of a stock worth far, far more and killing any rebound whenever he can... where is SEC? Where is FINRA and where is Michael Mullan or Ted Jenkins? Where is press release? Where is you name it? Come on RCPI, open your eyes.. Maxim is the enemy, not a friend and the convertible note agreement and note holders are both adverse to the company. These other parties are in breach... they are probably net short right now and were really short just a few days ago... Put an end to this now.
Stock should rally soon regardless... I remain long.
Stock is worth much, but Maxim just keeps selling it down...
Criminal... even with whatever new stock is outstanding.. market capital should be fifteen times what is reflected in stock price.
Maxim dropped ask to .087, joined by its so often partner CDEL asking .082 and bid is gone for moment... lets see if and when it returns.. this should be at or near bottom right now.
Stock worth a dime more at moment... and eventually only a nickle by end of August if dilution continues
Maxim is in such clear breach already with ask down to .094 when stock had bid at a penny at open... criminal.. Maxim needs to be stopped.
Be nice if Maxim and other shorts are as short as I think if some buyers came in and bought all these shorts have for sale and then news.. company to sue for breach, SEC involved.. Maxim has to deliver shares it is short.. and shares it sold ahead of time.. etc.. whole thing needs to be exposed... Maxim and convertible note holders sued.. and fined and criminal charges? Maybe I am dreaming, but it does provide small comfort with the loses we have seen here if long.
Maxim is selling short, or front running before shares delivered, paid to convertible note holders ... it appears note holders have ratified his agency and illegal and unethical activities by continuing to employ him even though short selling and/or front running evident to all.
It also appears Maxim was advisor to company... got compensated for advise and for bringing deal to the tune of 1.5 million for october deal and agreement alone... so breach of all sorts of things by stabbing company in the back as it has done and continues to do
The play appears to me to be the upside if this is stopped... the sooner, the better.. right now.. upside may be limited to a dime or 15 cents, but this is dropping with each payment of stock by company to convertible note holders and Maxim
My guess is maxim is ahead of this... by at least a month and maybe two months... as are other market makers and others we don't know and true short interest is probably north of 25 million shares even with whatever stock paid and delivered to Maxim and convertible note holders recently...
There is a powder keg of potential if company or SEC puts stop to the Maxim scheme... but the selling pressure on the stock will continue until this is stopped... but if and when stopped... and I am optimistic it must be... and soon... there is lots of potential... a ten bagger today... only a five bagger from where we are today at the end of the summer.. but that is still a nice upside. Let's stop Maxim... write co.. write sec and once stopped ...stock price should rise nicely.. just my take...
Complicity... or maybe Jenkins or others are under a spell of some kind of mind control of whoever wants the IP?
They need to wake up and cease to be complicit, that is for sure.
Keep writing, calling... maybe the right words will help them wake up and see the snake in Maxim they got involved with is biting them and their shareholders... big time... how can stock go down and company still not see other side is in breach of agreement that was bad to begin with entered into by company thru the vicious snake Maxim... roll tender woman and snake as sung by Donald Trump... take me in Michael Mullan take me in Ted Jenkins said the Maxim group ... before they killed us with their poisonous bite.
Nope, they have not sold shares and are not likely to without public disclosure under terms of convertible note agreement.
Questions to ask Ted Jenkins and Michael Mullan, I asked these yesterday in email to company.
Can you provide any public assurance to shareholders and the public that company will cease to pay convertible note holders and/or Maxim with shares of company stock, especially when stock price is so low?
Can you provide any public assurance that Maxim acting alone or on behalf on convertible note holders will cease from selling stock at lower and lower prices as if Maxim or convertible note holders know they will be rewarded for lowering price because they know company can be relied upon to pay with shares issued at lower price than they could ever sell stock at due to discount to low price provisions of convertible note agreement?
Can you publicly disclose that convertible note holders are in breach of agreement and company is going to take action to stop it regarding clear lack of best efforts by
Maxim acting as their agent to obtain best price when selling, front running or short selling stock in rcpi in violation of the convertible note holder agreement, in breach of your trust and in violation of the best interest of the company and existing shareholders?
Questions not yet asked... but needs to be:
When can we expect a shareholder meeting to discuss and vote on convertible note agreement, that was agreed to by Mullan, Jenkins and board without shareholder approval and which contains provisions so contrary to the best interest of the company and shareholders?
Have you contacted SEC? Called Ted Jenkins and asked him why he trust in Maxim in spite of how things have worked out, obvious to any reasonable observer downward stock price manipulation, breach of provisions of contract against shorting, selling for lower price than best efforts could obtain, etc..
Have you asked for shareholder meeting?
Mullan's publicly disclosed plans are to get IP value better established and to go back to convertible note holders (thru RCPI management trusted advisor Maxim) per early May press release.
The first plan may not be bad and might even open up future funding if they ever get out of toxic Maxim advised and brokered convertible note agreement.
The second plan is terrible. He needs better counsel and wisdom. It is like going back to a known polluted well or like the tender hearted woman loving the vicious snake, in poem Trump read.. best case it is like a dog returning to its vomit. The stock price has declined because of the bad deal and serious breaches of the deal by Maxim as agent for convertible note holders, without any evidence company or Jenkins or Mullan cares, because they have done nothing about the breaches, about the downward stock price manipulation and about the bad provisions of the agreement... bad deal, if they care, they will get company out of deal, sue Maxim, get damages and by so doing regain investor confidence, see stock price recover and improve access to capital markets.
Thanks for sharing..
I guess it is an issue of credibility and competence.
Ask if he cares, when we can have a shareholder meeting to vote on matters?
Does Jenkins and Mullan know that Maxim as a agent for the convertible note holders is in breach of the contract?
If Jenkins cares, and Mullan for that matter, when will they stop, when will they cease to reward the other parties to the contract by making debt payments with stock?
When are they going to negotiate from strength and realize the other party to the contract has caused the breaches on their part?
Probably closer to 48 million shares outstanding by now or soon... but I agree, selling and stock price decline way over done.. explosive upward potential if company would take a stand for shareholders, sue for breach and go after Maxim for damages.
I have emailed, but no replies of late.
I was thinking of calling Bob Roskamp.. he might have an idea of how to pursue this, but I only met him as acquaintance of someone else.. so not based on me in the least.. he probably would not even remember me... but I liked him and his niece and the whole family business. Have you ever been to Sarasota? I used to live there.
If company stopped Maxim, oh boy would this run!
There are a ton of other shorts out there... stock would spike big time..
so.. will the company do anything?
If not, might SEC shut Maxim down?
If neither... then value per share will drop.. but the price decline is way ahead of value decline per share...
Just my take
Stock price could jump if company did anything to defend it.. like not paying interest and principal with stock.. like suing Maxim and convertible note holders for breach.. like getting funding agreement ruled voidable on their part... back to a dime in no time.. its time to accentuate the positive, eliminate the negative and watch out for mr. in between. I think damage is mostly done.. still plenty of upside.. and write and call company and sec and finra.. beg, plead with Jenkins to stop Maxim, to get out of deal for cause.. to due his duty to protect and look out for the best interest of shareholders, not convertible note holding cheats or Maxim.. and yes the noteholders are cheats.. Maxim is their agent.
Call Mullan, call board, even call Jenkins if you think it is worth it and please report back what he, they share.. will they or won't they do their duty and protect shareholders?...
if anything.. if they are not willing to help shareholders.. we need to demand meeting and throw them out... report them to SEC, initiate a shareholder rebellion and lawsuit... throw out the deal.. sue, sue, sue and maybe once out of deal.. we could still sell or develop the IP, the patents.. anatabine! for many time what stock price is now trading at... still has ten bagger potential... if co worth a buck per share with 10 million shares outstanding.. should be worth a dime with 100 million.. and I think we are less than half way in between .. still estimating in the upper 46 million shares outstanding..
I doubt there is more than 47 million shares outstanding.
The multi million share naked shorts took place long ago.. this is just another push down... nothing compared to June 1st-3rd imo.
Stock should be valued much, much higher, even if there was so much dilution.. however.. I don't think there is nearly as much dilution as some think.. and even if there were going to be 100 million shares outstanding... and there may be in a few months, who knows... when there were 10 million with same company.. not quite as well developed prospects, stock was trading between 50 cents and a buck.. just 3-9 months ago... that means.. even with a 10X dilution.. all things being equal.. we should see stock priced at a nickle or higher... it is the manipulation by Maxim... shear terror his selling brings.. and as it turns out.. knowing he gets his hands on stock around the middle of each month.. that others join him in shorting the heck out of this stock... SEC, FINRA and Mullan owe it to shareholders, the public and justice to shut down Maxim and its illegal stock price manipulation, including voiding the agreement company entered into whether suckered into it by trusted advisor Maxim or whether someone was complicit with Maxim, like Jenkins.. they need to be stopped from doing any more harm to shareholders of rcpi... so.. stock still worth more than it is trading at now.. much more.. but downward pressure persist due to Maxim... nuff said.
Both... combined with stock price manipulation .. downward led by Maxim...
A few weeks ago, an excellent football coach named Art Briles was fired. There were a few players he recruited that lacked character and they did or appear to have done some terrible things, including rape and assault on women and other members of the Baylor community.
He was successful at what he did, but he was fired. He did not keep watch over what was taking place... and he must have known some of what was taking place.. on any reasonable person test.
Michael Mullan must know there is criminal and civily actionable things taking place in regards to the agreement the company entered into thru Maxim. He must. How can he not be aware.. The shareholders have been defrauded.. they have seen the price of the stock destroyed by the bad deal, and Mullan has yet to complain or assert breach by the other parties to the deal... no news at all of him standing up for the company and for the shareholders. He needs to be held accountable.
The deal has and appears to continue to work like this... Maxim drives price down... company not knowing or complicit with Maxim negotiates release of funds for research and ongoing operations by paying interest and principal payments on debt.. at 20 percent discount to the low price Maxim has driven the price down to... rinse, repeat.. in beginning .. it was probably more shares owned than shares shorted that drove price down, but in May and first two and 1/25th days of June... thru 9:45 or so on June 3rd, Maxim sold many millions.. maybe 20-25 million shares they and convertible note holders did not yet own.. or possess... these shares most probably were paid to them on June 15th... so they get short position covered at nice profit... and now.. they seem to continue selling.. my guess is it eases up in a few days.. but damn.. i am long.. and this is wrong... naked shorting.. front running.. deliberate stock price destruction by the way the sell orders and often low ask price are done by Maxim. Call the board, call Mullan, call or write the SEC, FINRA... entreat them to do their job and to live up to their responsibilities, a fiduciary responsibility to shareholders being at the top of my list.
Is Maxim that bad or is it a combination of someone like Jenkins being complicit... maybe even more than complicit?
I was buying this at much, much higher prices and kept thinking the agreement can't be that toxic... after all there were best efforts and prohibition against shorting provisions, but while Mullan and Jenkins seem to know when they are not in compliance... and negotiating from weakness, rather than seeing the blatant and brutal breaches by Maxim and Maxim acting as an agent for the convertible note holders... that not only are worthy of criminal and civil penalties for breach.. but it appears they caused any and all breaches by rcpi to the agreement.. going back to when Nasdaq delisting was imminent, yet Jenkins and Mullan signed agreement, with all parties knowing stock was about to be delisted by Nasdaq. All parties knew.. yet when stock delisted.. other side claimed breach.. cut off funding... and were paid "make whole amounts" over $600,000! And the terms... terrible.. co even says so much in SEC filings...
Mullan, Jenkins and board need to show loyalty to shareholders.
What Maxim has done and continues to do is criminal.
I have followed RCPI for past five years since meeting Bob Roskamp and getting tour of his institute. Anatabine Citrate is legit, right? I have taken Anatabloc, as have many others who still follow the stock.
So why did Mullan and Jenkins and the board get in bed with Maxim?
I only see two options if we don't want to sell to make any kind of money.
1. Shareholder meeting. Vote the bums out. Don't worry about poison pill or Convertible note funding... they should both prove voidable due to serious breaches by Mullan, Maxim and convertible note holders either acting alone or through the agency of Maxim.
2. Shareholder lawsuit to gain back control.
The first is really the best... but it might take up to 90 days to get it to happen from meeting requirements... may even need lawsuit... be nice if company had rules like some of the natural gas and exploration companies that if shareholders not satisfied.. boar members have to resign within a few weeks, not months.
Price appreciation dwindles the longer we wait. Right now without further dilution this could be a ten bagger.. with 90 day delay, maybe a five bagger... but we need to act.. imo.
I have written board.. NO response of any kind.
Jenkins will not and has not given me the time of day..
Only reason I am here and still wrongly long is Anatabine... I believe it is revo.. freakin lutionary...
I also believe best potential these guys are not pursuing is as a replacement for Aspirin or Tylenol, if put together with other ingredients.. this could be billion dollar product, but just like a few of my other investments, something is wrong here ... someone does not understand fiduciary responsibility or loyalty to shareholders... at all at rcpi... someone just does not get it... there was funding... may still be.. but they way they went is broken.. it will not work... and they need to get out of the toxic funding NOW. so.. please write company, the board... if you can contact individual board members, join me.. we can make money.. if we put some effort into things... can still make money here.. but time is of the essence.
end of rant.
Contact Board of Directors of RCPI
I think we need to write and call them. The abuses by Maxim and toxic convertible note holder agreement entered into by company without any shred of concern for what was in the best interest of shareholders needs to be gotten out of... stopped. It should prove to be voidable and company and shareholders should be able to recover millions in damgages, but the time to act is now.
Here is sample of what I have written to board... if more of us write, maybe they will do something.
Sent: Monday, June 20, 2016 10:00 AM
To: board@rockcreekpharmaceuticals.com
Subject: Request for special shareholder meeting.
To whom it may concern,
Due to the fact the company has done little or nothing to stop the abuses and breaches of convertible noteholder agreement by Maxim on its own behalf and/or acting as an agent of the convertible noteholders, which together with negotiations with the same do not appear to have been done at arms length, I as a shareholder of XXX,XXX shares of stock in the corporation, ask that a special shareholder meeting be convened to vote on matters such as finding alternative funding, getting out of convertible note holder agreement , including filing lawsuits for breach and to recover damages, including "make whole" payments erroneously negotiated by company, when all parties to contract should have known stock in RCPI was about to be delisted and therefore it should not have been in the contract, and certainly not enforceable against company and shareholders when this breach was unavoidable if company entered into convertible note holder agreement, both due to flagrantly unfavorable to shareholder provisions and terms, but also because Nasdaq and the board or directors, CEO and officers of the company owed shareholders a fiduciary responsibility to act in the best interest of the shareholders, and this has been breached.
The stock has falled 99.7 percent in value since company hired Ted Jenkins. Who brought the Maxim deal to the CEO and board? Why does IR firm have ties to Maxim? Is Maxim a trusted advisor to the company? If so, they have violated your trust.
Something needs to be done soon.
Sincerely,
RCPI shareholder
Best hope of getting share price to recover is shareholder meeting.. we need to demand it.
Hope SEC takes complaints seriously. If Jenkins was either coaxed or complicit, an SEC investigation, which should discover and uncover multiple breaches of contract by Maxim and/or convertible note holders, and illegalities.. naked shorting, front running... downward stock price manipulation.. may be much needed to get stock price back up, slow or stop dilution, show deal to be unethical, unwarranted and voidable on behalf of company and.. shareholders... and hopefully lead to company getting out of deal, while opening up other funding.
But, we probably should demand shareholder meeting.. Vote the bums out... especially Jenkins, and Mullan needs to be demoted to chief science officer or something like this.. maybe we could get Roskamp or even his niece to serve as CEO for a while. I will look up again, but I believe company must have shareholder meeting if demanded the right way.. in writing to state incorporated in, which I believe is Deleware.