Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I agree. WFC submitted a 2nd remediation plan to the Fed this past Sept. and have yet to hear back. Their first attempt was rejected promptly back in 2018. Next month will be the 3 yr anniversary since the asset cap was imposed by previous chair Janet Yellen (oh the irony). I think having a new CEO recruited from outside WFC along with some new board members should make a difference from a management perspective. This is all new territory as no other bank has had this sort of punishment.
If you haven't had a chance to read the final defense written document for the Court of Appeals, here it is courtesy of Dragon Lady.
https://www.pacermonitor.com/view/4ZUDN7Y/USA_v_US_Stem_Cell_Clinic_LLC_et_al__11cae-19-13276__11013175.0.pdf
The skin graft example provided by the FDA was very weak. When we do tendon grafts we also dissect muscle tissue as tendons attach muscles to bones. The muscle tissue is not good for grafting purposes and is cut away from the tendon on a back table as part of the graft prep. In this process we alter the tissue as needed and then return it back to the patient in a different part of their anatomy (hamstring tendons used for ACL recon in the knee for example). The FDA has no oversight with autologous tissue related procedures.
When patients receive autologous blood transfusions (transfusions of their own blood) during surgery the blood recovered from suction is sent to a machine that cleans and then separates red blood cells from the fluid containing, fat, bone particles, and saline, and then returns scrubbed red blood cells back into the patient via transfusion. Again, the tissue, or in this case blood, is altered before being returned to the patient. And because it is blood products, there is no single destination within the body as blood circulates everywhere.
Personally, I think the judges have already made their minds up per the written brief previously provided and the hearing was mostly a formality. I expect them to send it back for trial. We will see.
Agree
It would seem the proper sequence for the judges would be to have read the documents before hand. Listen to the oral arguments. Then reread the documents cross referencing the oral and then make a decision. How long? Who knows? If they feel the case should have gone to trial, their ruling could be soon.
Should be interesting. I will watch. As you noted, body language and line of questions (if any) could be revealing. Thank you very much for proving the vid link.
Read the pacer link provided by Dragon Lady. I have a science/medical/surgical background and their defense looks solid. The appeal was laid out in layman format so anyone can understand. But decide for yourself.
https://www.pacermonitor.com/view/4ZUDN7Y/USA_v_US_Stem_Cell_Clinic_LLC_et_al__11cae-19-13276__11013175.0.pdf
Thank you for the pacer link. I read the document and it looks like the defense has built a solid case. I like my chances here.
"ONE OF VERY FEW PUBLIC TRADED "stem cell clinic/regen medicine"" Good point. I think this is key "if" it can be established that the stems cells are unaltered using SVF technique.
https://www.venable.com/about/news/2020/02/venable-defeats-fda
"The Honorable Judge Jesus Bernal held that if, in fact, the cells implanted are unaltered during the procedure, Defendants' SVF Procedure would qualify for the SSP Exception. Because that issue was not before the Court on the Government's motion, the parties will proceed to trial and the defendants will offer evidence to show that SVF stem cells are not altered during the procedure."
SVF enzymes digest fat allowing isolation of stem cells during harvest. No different than a scalpel. We harvest tissue every day in orthopaedic surgery. Same patient. Same day autologous tissue transplant. The FDA has no oversight with these procedures. The same goes for allograft (donor tissue) grafts.
Tomorrow 1/13 Wed. Oral arguments. Then decision. Could takes days, weeks, or months to hear. Their is a deadline 60 or 90 days (I don't remember). I expect a decision within weeks. Judges have already read the case documents for both sides.
Many catalysts for WFC. Once the asset cap is lifted this thing will grow wings. WFC$
Exactly. I just ignore the nonsense pump. USRM will win or lose the court appeal. Nothing matters to me until the decision is handed down. I believe we will win. Time will tell.
Nice day BAC. Treasuries are rising. Biden ready to start spending on infrastructure. More stimulus. BAC$
Going down fast. TWTR garbage!
Patience might pay off finally. Key words I'm considering for court ruling: SVF. Enzymes. DNA. Autologous. Tissue. Jurisdiction. Guidance.
This ruling holds the keys to a new legit industry with unlimited potential and growth. This circumstance is similar to the legalization of marijuana but on a federal level; therefore, I expect it to be much more eventful.
Good luck $$$.
Lol. Good ending to a bad story.
True. But that won't change the direction this is going = worthless.
ARYC worthless
"Many knew it was a pump and dump scam and warned folks about it for a long time."
And...many knew it was a pump and dump scam and played folks for a long time.
imo.
Who could have guessed this company was just another P&D? Wow. Amazing revelation.
How could a PhD be a scammer? Impossible! ARYC has a plan to up list.
Company Tweets are legit. ARYC didn't deregister. Grey market opportunity.
Audit near completion. Fins to be filed soon. Millions billed per week.
Let's chart ARYC. What does the Ouija board say today? Where are the promoters?
This scam would be funny if it weren't so pathetic.
All imo.
ARYC Grey Tuesday sale.
Big day tomorrow.
Do you understand what suspension means?
Gifa garbage!
"...if the company doesn't deliver anything!!!" I feel your pain but it's too late for that.
This isn't about fixing things...
After the 10 day suspenion ends:
https://www.sec.gov/investor/alerts/tradingsuspensions.pdf
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that quote in the OTC market (which includes stocks quoted on the Bulletin Board and OTC Link (f/k/a Pink Sheets)), quoting does not automatically resume when a ten-day suspension ends. Before OTC stock quoting can resume after a suspension period, SEC regulations require a brokerdealer to review specific information about the company in accordance with Exchange Act Rule 15c2-11 and FINRA Rule 6432. If a broker-dealer does not have confidence that a company’s financial statements are reasonably current and accurate in all material respects, especially in light of the questions that may have been raised by the SEC suspension action, then a broker-dealer may not publish a quote for the company’s stock. The OTC markets function through dealer systems where only broker-dealers may quote and facilitate trading in OTC stocks.
In contrast to stocks that trade in the OTC market, stocks that trade on an exchange resume trading as soon as an SEC suspension ends.
Exactly.
It seems some don't understand what a suspension means. They are fixated on "temporary" as if it suggests there is a timeline to fix the things. The 10 day suspension is intended as a warning to new investors.
RIP ARYC!
False.
"The Commission temporarily suspended trading in the securities of ARYC because of questions regarding the accuracy and adequacy of publicly-available information concerning ARYC, including: (1) its financial condition and its operations, if any, in light of the absence of any public disclosures by the company since 2015, and (2) information in the marketplace since at least March 2, 2020, claiming that ARYC developed an approved COVID-19 blood test."
Double whammy (1) and (2). Good luck finding any market maker willing to trade this once it hits the greys.
https://www.sec.gov/litigation/suspensions/2020/34-88623.pdf
Hello NoMoDo. It's been a while. I'm still holding heavy bags lolz..
"I personally expect it to rise to this level soon." Pre-trial maybe. If the Cali company wins judgment this will run. USRM would be expected to win their appeal on the same grounds as Cali. It seems the judge in the Cali case understands the difference between creating a drug and using SVF to harvest native cells/tissue. Procedurally, it's no different than using a scalpel to cut skin/tissue.
"The stock was at .08ish before the FDA overstepped their bounds." It ran to .19 on hopes of FDA approval (remember?). If Cali wins there will be no need for FDA approval. Stem cell procedure oversight will be conducted by state and local medical boards. No different than any same patient/same day procedures involving tissue transplants.
I work in medicine, and we do tissue transplants routinely. The only thing that requires approval are (implants) used to anchor transplanted tissue or implants used to replace joints. ACL reconstructions are a perfect example. We use tendons to replace ligaments. There are changes that occur on a cellular level (at the harvest and implant sites) and yet it's not seen as creating a drug. Cellular change is inevitable with any invasive procedure.
Yeah overreaction to say the least la_trader. Consumer confidence is high in the U.S. People are working AND spending their money. New homes sales are up. Housing prices are going up too (important indicator)...
I see short term inflation hitting due to China manufacturing slowdown. Demand will be strong and once Covid-19 fears diminish we should see cost of sales will going up and so will consumer pricing which will have an impact on the Fed's decision NOT to lower rates imo. We'll see.
More dumping? Gifx form 15 garbage! No audit. No fins. Just bullshit hype.
I'll have to keep my eye on that. Thanks la_trader.
When do you think that will happen?
"WASHINGTON — Banks could invest heavily in or even sponsor venture capital funds under a proposed change to a post-crisis rule that was intended to limit their risk-taking."
https://www.bepeek.com/the-fed-wants-to-loosen-rules-around-big-banks-and-venture-capital/
Lot's of catalysts moving forward. New home sales increasing. BAC share buybacks continuing (lower float). Lifting of tariffs. China trade deal(s) and USMCA will create stronger economic numbers.
Days low down 98% > 0.0003. Hot trash dumpster fire.
Dump and run!
Look at the 8-k. Form 15 and CE. Everything else is total snake oil bs.