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interstate,
I am fully aware of his tax obligations. A couple links on the topic below for those interested. As I mentioned last week, I don't find Lanza's selling a big deal.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57089947
http://www.fairmark.com/execcomp/grants.htm
http://personal.fidelity.com/products/stockoptions/rstockawards.shtml
Zilla,
I just reported the news. Keep in mind that all 130MM shares were gifted to the insiders. Yep, they have taxes to pay but so do lottery winners. To my knowledge the insiders have never bought one share on the open market, even when we trended under 2 cents. So yes, they all have many millions of shares with no cost to them and most likely will get more as they see fit. As I told poster rumit the last time around, "we better get use to it", the BOD's 15MM and Caldwell's 85MM will be free trading in February. While it may not look that good to some I feel the hundreds of millions of shares given to debt holders at cheap prices is much worse...All, imo..
ysung,
well, it didn't help any..:)
Lanza is the CSO(chief scientific officer) and his pre-arranged selling contract expired in October. Under that arrangement he sold approx. 3.6MM shares over a 6 month period.
The last week of November he has sold approx. 6.2 million shares.
Lanza Files another Form 4,
Total shares sold..4.8 million
November 29...sold 1 million shares
November 30...sold 3.8 million shares(1)
(1.) The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.09 to $0.113, inclusive. The reporting person undertakes to provide to Advanced Cell Technology, Inc., any shareholder of Advanced Cell Technology, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares acquired at each separate price within the ranges set forth in this footnote.
http://www.sec.gov/Archives/edgar/data/1140098/000101376210002951/xslF345X03/primary_doc.xml
lefty,
Could you remind us again what Caldwell's incentive to get to .20 is? I can't remember the exact details.TIA
Sure, As stated prior .20 would need to be the average closing price for the entire 4th qtr. That is approximately 62 trading days. The first 42 days have passed and quick calculations based on adj. closing prices show we averaged under 6 cents per share. The pps would have to be .50 per share every trading day in December for Caldwell to receive $960K(base salary x 2)
While I would love to see the common shareholders benefit from a much higher share price, I am not going to shed a tear if Caldwell receives no bonus on shareprice lol I really feel the following is enough, don't you?
Base Salary 2010..$480,000
Retention Bonus...$100,000
Plus the stock grant of 85 million shares with book value of $8.5MM
Employment Agreement:
http://www.sec.gov/Archives/edgar/data/1140098/000114420410013897/v177442_ex10-135.htm
John,
you asked, "rock, who is the company or companies that are involved with the CD financing that will be paid off at year end that you mentioned yesterday? thanks"
There are MANY companies involved John. The best source for this info can be found at the link below. Scroll to page 24 titled,
SELLING SECURITY HOLDERS
http://www.sec.gov/Archives/edgar/data/1140098/000101376209001837/forms1.htm
Remember John, after final payoff these holders will still have approx. 200MM 10 cent warrants available to exercise until the year 2014.(wish I had that option..:) When exercised, the money goes directly to ACT
This prospectus relates to the public offering of up to 192,148,119 shares of common stock, par value $.001 per share, of Advanced Cell Technology, Inc. (“Common Stock”), by the selling stockholders. These shares are issuable to the selling stockholders upon exercise of warrants which were issued to the selling stockholders in private placements in September 2005, August 2006, August 2007, and March 2008, and were amended and restated on July 29, 2009 (as amended and restated, the “Amended and Restated Warrants”). The Amended and Restated Warrants have an exercise price of $0.10 and a termination date of June 30, 2014.
ysung,
It will be safety data first. I don't know an actual time frame for results and ACT probably doesn't either. Our CEO said this a while back.." Typically, once a quadrant of patients is treated you will have 90 day, 6 months and one year data points. However, those details are within the providence of the FDA to determine"
Possible perspective from snippets below..
http://www.actcblog.com/
"For the moment, however, Lanza says the current study will be focused on establishing the safety of the RPE therapy, with any visual improvement a welcome bonus. “We’re starting out with a safety study in those with advanced disease,” says Lanza. “But hopefully if we get in earlier in the progression of the disease we might see greater impact on visual improvement. What this approval shows is that the readiness of the FDA to work with researchers to move exciting new stem cell based therapies out of the lab and into the clinic.”
"Researchers expect to see results in real-time due to the use of high resolution instruments that allow them to track the cells in the eye, with an assessment of the progress possible within weeks.
“We should be able to know what’s going on along the way,” said Lanza. “It is quite conceivable we could see improvement within six weeks or so.”
William Caldwell, CEO of Massachusetts-based Advanced Cell Technology (ACT), tells CNN that 366 days after filing the application, the FDA granted approval for his company to start a clinical trial using cells grown from human embryonic stem cells. The treatment will be for an inherited degenerative eye disease.
“We’re still absorbing the fact that we finally got the approval” says Caldwell. “The real work lies ahead.” Getting the trial going is the next big step, says Caldwell. He hopes the first patients can be enrolled by the first quarter of the next year.
ysung,
sure, it is very possible. BUT, I would also put some serious weight in the following statement from todays PR..which, imo has to help speed things up considerably. Much of the groundwork has been done. BUT...ya never know.
"On November 22, ACT announced that it had received FDA approval to begin treating patients as part of the company’s Phase I/II Clinical Trial treat Stargardt’s Disease, a form of juvenile macular degeneration. Company scientists view the use of the same hESC derived RPE cells for both trials as the most efficacious approach, as it permits the Company to leverage its experience with the FDA that it gained through the process of obtaining approval for the Stargardt’s clinical trial to expedite the approval of its clinical trial in Dry AMD."
Ruff,
Once again, it takes a long winded post to detail..:)
For the sake of having a discussion on this topic let's look at it from this perspective. SMD trial is cleared by FDA and will start first. AMD needs approval and will follow SMD trial at some point.
Mytogen Phase 2 could launch in first half of 2011 which is more invasive and many more patients and has been said to cost $15MM for Phase 2. Caldwell has stated that "at least partial funding coming from “non dilutive” sources" Ok, it is therefore possible that all 3 could be ongoing by mid year 2011.
I have no clue what the Phase I/II multicenter studies will cost for either SMD or AMD. What I do know is this, if we thought we were burning through dollars before well the time is here when dollars will really roll. And this quote from todays PR, " and of course plan to scale up our operations"
The last 10Q reported the fiancing we have available(see below)
(from 10Q)
We plan to fund our operations for the next twelve months primarily from the following financings:
· During 2010, we received cash proceeds of $2,650,000 in convertible promissory note financings with JMJ Financial. As of September 30, 2010, $3,520,000 remains available to us.
· During 2010, we received $1,685,000 from the 2009 convertible debenture.
· During 2010, we received $830,165 from the issuance of our Series A-1 convertible preferred stock credit facility. The facility allows for a maximum placement of $5,000,000.
· During 2010, we received $1,985,000 from the issuance of Series B preferred stock. The agreement allows for a maximum placement of $10,000,000.
· We continue to repay our debt financings in shares of common stock, enabling us to use our cash resources to fund our operations.
As of Sept.30 that shows approx. $15.7MM available to ACT, when we call in available financing we issue shares to the note holders.
I am seeing a discrepancy from the credit lines above and what was written to poster "interstates" inquiries.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56606130
Whomever responded stated $10MM in credit lines? So I am not 100% sure what the correct number is. It is very possible they called in more money after the Sept.30 filing..
With that said, it is very important to remember that if the pps moves and sustains levels higher than 10 cents(sustained at .20 or higher,imo) it will have debtholders wanting to exercise their 10 cent warrants. Approx. 200MM warrants at 10 cents exercised would translate into $20MM dollars for ACT coffers. If all that were to happen we would be looking at having a total of $30-$35MM availavle for all 3 trials. How far does that go? Not nearly far enough but a good start until we can partner up or secure more financing and hopefully it will be under better terms than what we have had in the past. Money will be an issue in the forseeable future, no doubt.
mail ?,
"rock, where can we look to find OS#'s on a monthly basis?"
There is no monthly update source on OS#'s. The quarterly filings and year end are normal places to get updates. The next filing, 10K, is not due until Wednesday, March 16, 2011(3.5 months). If by chance a S-1 is filed or a proxy it would update the OS#. Otherwise, unless the Company discloses via PR or something(doubtful) we have to wait for 10K. Extrapolating shares out from prior filings can get you fairly close sometimes. Year end will be a little heavier than normal as we make final balloon pymt to CD holders..
equity8,
The FDA approval for the IND submission is normally within 30 calendar days after submission
You meant to say FDA response verses FDA approval...right?
ysung,
The IND for SMD took a little over a year to receive clearance. It could happen in 30 days this time, really no way of knowing. Because the two IND's are so intertwined I will assume the timetable should be much shorter than the first one, jmo...
Ridda,
No, I don't buy into that theory. They don't "retain a majority amount of shares." The approx. 130MM shares issued to insiders represents about 12% of the last OS# of 1.088 Billion.
interstate,
"That change would allow ACT's five single-blastomere lines currently under review at the NIH to receive federal funding for research, if approved by the agency. ACT currently has an investigational new drug application (IND) under review at the FDA for a Phase I/II trial using its MA09 single-blastomere line to treat Stargardt disease, a genetic condition and the leading cause of juvenile blindness in the U.S., Lanza told BioWorld Today."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46950661&txt2find=MA09
ysung,
The FDA gave clearance for the clinical trial for SMD. The CSO, Lanza, was quoted as saying early 2011 to begin, meaning enrollment and treatments. Clinical sites will need IRB approval etc prior to treating humans. 12 patients will be enrolled. yes, smaller than other trials but this is a rare disease with small numbers affected, thus orphan desigination. http://www.advancedcell.com/news-and-media/press-releases/advanced-cell-technology-receives-fda-clearance-for-the-first-clinical-trial-using-embryonic-stem-cel/
Todays PR was for the filing of another IND for Dry AMD. Not sure why only the 12 patients, I expected it to be more since many more people are affected. This will need FDA approval before trials can commence.
http://www.advancedcell.com/news-and-media/press-releases/advanced-cell-technology-files-ind-with-fda-for-first-clinical-trial-using-embryonic-stem-cells-to-tr/
louisa and davpar,
I agree Louisa..Please feel free to make a post and have davpar put a sticky up. I honestly don't give a clinical rats arse whether my name or post is there..:)
Advanced Cell Technology Files IND with FDA for First Clinical Trial Using Embryonic Stem Cells to Treat Dry AMD
Advanced Cell Tech (BB) (OTCBB:ACTC)
Intraday Stock Chart
Today : Tuesday 30 November 2010
Advanced Cell Technology, Inc. (“ACT”; OTCBB:ACTC) announced today that it has filed an Investigational New Drug (IND) Application with the US Food and Drug Administration (FDA) to initiate a Phase I/II multicenter study using human embryonic stem cell (hESC) derived retinal pigment epithelial (RPE) cells to treat patients with Dry Age-Related Macular Degeneration (Dry AMD). Dry AMD reportedly afflicts more than 30 million people worldwide, including an estimated13-15 million Americans. Approximately 10% of people 66 to 74 years of age will have findings of macular degeneration, and this prevalence increases to 30% in patients 75 to 85 years of age.
Dry AMD, or “central geographic atrophy,” is the “dry” form of advanced Age-Related Macular Degeneration. Dry AMD occurs when the light-sensitive cells (photoreceptors) in the macula slowly break down, gradually blurring central vision in the affected eye. Over time, as less of the macula functions, central vision is gradually lost in the affected eye, often progressing to blindness. The loss of photoreceptors is a direct result of a preceding degeneration of the RPE layer of cells just below the retina. Dry AMD is much more common than wet AMD, which results from aberrant blood vessel formation in the eye. Some 85-90 percent of all people with intermediate and advanced AMD combined suffer from the dry form. Despite representing a $25-30 Billion market opportunity, there are currently no FDA-approved treatments for Dry AMD available.
The Phase I/II trial will be a prospective, open-label study that is designed to determine the safety and tolerability of the RPE cells following sub-retinal transplantation to patients with Dry AMD. A total of 12 patients will be enrolled in the study at multiple clinical sites. The sites which are currently under consideration are the Jules Stein Eye Institute at UCLA; the Ophthalmology Department at Stanford University School of Medicine; and the Edward S. Harness Eye Institute at Columbia University College of Physicians and Surgeons; additional sites may be considered.
“We can generate a virtually unlimited supply of healthy RPE cells,” said Robert Lanza, MD, ACT’s Chief Scientific Officer. “In our animal studies, we observed significant improvement in visual performance over untreated animals, and did not find any adverse effects of the injection of RPE cells. In extending our studies to human patients, it is our hope that we will show that the injected RPE cells will rescue photoreceptors and slow, if not stop, the progression of macular degeneration.”
On November 22, ACT announced that it had received FDA approval to begin treating patients as part of the company’s Phase I/II Clinical Trial treat Stargardt’s Disease, a form of juvenile macular degeneration. Company scientists view the use of the same hESC derived RPE cells for both trials as the most efficacious approach, as it permits the Company to leverage its experience with the FDA that it gained through the process of obtaining approval for the Stargardt’s clinical trial to expedite the approval of its clinical trial in Dry AMD.
“We are seeing the beginning of new era in medical treatment,” continued Dr. Lanza. “The hope that stem cell therapies may one day repair and regenerate diseased organs and tissue goes far beyond what can be accomplished with traditional medicine. This approval shows an apparent readiness by the FDA to work with researchers to move exciting new stem cell based therapies out of the lab and into the clinic.”
“Filing this IND represents the culmination of years of innovation and hard work by ACT’s scientific team,” said William M. Caldwell IV, Chairman and CEO of ACT. “With this second IND, and our plans to expand our studies in Europe, ACT is positioning itself as a true ‘translational’ leader in the field of regenerative medicine. When you are the first, the whole world's eyes are on you, and in our case, most especially the eyes of the patients that suffer from AMD. We do not intend to let them down. We welcome this challenge, and of course plan to scale up our operations, as necessary, to continue to meet our milestones and help validate this technology platform.”
Ridda,
I see your post as two different scenarios. If I missed the point of your question, please let me know.
IF, but if we are completely successful in our endeavors. And we are able to cure SMD/AMD and create universal blood. How will we fend off a takeover
The above scenario presents great accomplishments over several years and likely puts ACT on one the big boards with an entirely different looking share structure and much higher pps long before the above is completed. At that time some form of Shareholder Rights Plan(poison pill) would most likely be adopted,imo, along these lines as an example.
http://www.highbeam.com/doc/1G1-76689507.html
If we get to the point of "commercialization" keep in mind the CEO comment, "For a small biotechnology company with limited resources, commercialization is challenging. If we reach that point, it is possible that the Company would either have been acquired or have partnered with a larger company more financially capable of commercializing the technology."
What do we currently have for possible protection?
1)ACTC has authorized 50MM Preferred Shares which the BOD can "WHEREAS, the Board of Directors of the Corporation is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of redemption and liquidation preferences of any wholly unissued series of Preferred Stock and the number of shares constituting any Series and the designation thereof, of any of them;
http://www.sec.gov/Archives/edgar/data/1140098/000101376209002048/ex31.htm
2)As a Delaware Corporation, Section 203
http://delcode.delaware.gov/title8/c001/sc06/index.shtml
3) Another possibility From ACT's Last Proxy when we authorized more shares,
http://www.sec.gov/Archives/edgar/data/1140098/000114420409038302/v155330_pre14a.htm
The proposed increase in the authorized number of shares of Common Stock could have a number of effects on the Company's stockholders depending upon the exact nature and circumstances of any actual issuances of authorized but unissued shares. The increase could have an anti-takeover effect, in that additional shares could be issued (within the limits imposed by applicable law) in one or more transactions that could make a change in control or takeover of the Company more difficult. For example, additional shares could be issued by the Company that may dilute the stock ownership or voting rights of persons seeking to obtain control of the Company, even if the persons seeking to obtain control of the Company offer an above-market premium that is favored by a majority of the independent shareholders. Similarly, the issuance of additional shares to certain persons allied with the Company's management could have the effect of making it more difficult to remove the Company's current management by diluting the stock ownership or voting rights of persons seeking to cause such removal. The Board is not aware of any attempt, or contemplated attempt, to acquire control of the Company, and this proposal is not being presented with the intent that it be utilized as a type of anti- takeover device.
neidenbach,
a few mentions below regarding your question.
Rigorous’ Review DEC 2009
The NIH conducted a “rigorous” review to make sure the stem cells approved today were made from embryos that were freely donated by women who were not compensated or induced in any way to provide them, Collins said. Scientists had to submit evidence that donors were informed of all options on use of their embryos and provided written consent.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44123355
ACT's Stem Cell Research Papers
METHODS
Human embryonic stem cell lines
The hES cell lines used in this study were previously
described H1, H7, and H9 (Thomson et
al., 1998) (National Institutes of Health–registered
as WA01, WA07, and WA09), and 15 lines derived
with the use of private funds (eight of these
lines were derived at Harvard University in the
laboratory of Douglas Melton (Cowan et al.,
2004), and seven were derived at Advanced Cell
Technology). The later 15 hES cell lines were derived
from human frozen blastocysts or cleaved
embryos that were donated by couples who had
completed their fertility treatment.
http://www.advancedcell.com/documents/0000/0197/ACT_LundPaper_01.26.07.pdf
(From 2008 creation of 5 new stem cell lines)
A team led by researchers from Advanced Cell Technology (ACT) in Worcester, Mass., reports in Cell Stem Cell that it created five new stem cell lines by plucking single cells from embryos in the early blastocyst stage, a grapelike cluster of eight cells called blastomeres. Researchers normally create this kind of stem cell line at a more developed stage from the entire mass of embryonic cells.
The group says the embryos survived the removal of a blastomere or two and grew normally to the 10-cell stage 80 percent of the time, the same rate as untouched IVF (in vitro fertilization) embryos. IVF doctors routinely take single cells from embryos to check for genetic diseases before implanting them in the womb.
"If we base this on objective scientific criteria, there's no evidence that removing a single blastomere harms the embryo," says Robert Lanza, ACT's chief scientific officer. The frozen embryos were set to be discarded by IVF clinics, but donor couples instead consented to their use for research.
That is how I understand it also. Here is a snippet from the CEO on what happens AFTER clearance is received from the FDA.
After FDA clearance, how long until the RPE (retinal program) trials are up and running? And how long until preliminary results are in?
We are currently on track to file our IND for our RPE program by the end of the year as we have previously disclosed. As soon as we receive clearance from the FDA, we will finalize our investigators and sponsoring eye clinic or hospital and begin a process to gain IRB (Institutional Review Board) approval to conduct the trials at that particular site. Typically, that process takes 60-90 days depending on the institution’s internal protocol approval requirements. Once IRB approval is given, our investigator can begin the enrollment of volunteers in our Phase I clinical study. Critical factors in the timing will depend on our financial condition, how quickly we can enroll patients in the study, the amount of patients who will be allowed to initially be treated and the dosage escalation requirements approved by the IRB and FDA. Remember the initial Phase I Clinical Trial is solely to determine the safety of the therapy. There will be a requirement to error on the side of caution in administering the therapy to the first quadrant of patients in the Trial. Typically, once a quadrant of patients is treated you will have 90 day, 6 months and one year data points. However, those details are within the providence of the FDA to determine.
http://www.sec.gov/Archives/edgar/data/1140098/000101376209001648/form14a.htm
Ruff,
Here are a couple posts on that topic from a while back. I still stand by what is said in those posts. The timing needs to be right and a Company MUST have the goods. In the near term(6 months) as our OS# creeps toward the authorized I see it as a reality and believe it to be in our best interest,jmo.
August,2010
(regarding why ACT asked and had approved a revesrse split in 2007
and why it may be on the radar after clinical hold is lifted)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53148255&txt2find=reverse|split
March 2010
( I copied it and pasted again with working links)
I normally try and post as much factual info as possible on any and all topics, this one will be OPINION based only so take it for what it is worth, please.
I will start by saying that the years I have been in ACTC I have ALWAYS considered the reverse split issue a waste of time and believed it would never accomplish anything. For those new here, ACT did approve a RS and later cancelled. These two links will show the details and reasons I didn't support it.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37876018
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37876291
To this day, I have no clue why ACT even approved it or what they hoped to accomplish. Water under the bridge, it's history.
Do I think differently now? YES
If ACT wants to be considered a player in the Biotech industry and MATCH their accomplishments then the corporate structure needs to change to be in line pps wise and OS# wise to attract institutional investors. The "trading mindset" will not change when tens and hundreds of million shares keep popping up.
I have always said for a reverse split to be effective the Company MUST have the goods(accomplishments) to go with it combined with the timing issue.
What accomplishments?(to name a few)
1)If cell lines are approved by NIH
2)If FDA lifts clinical hold
3)Treatment in humans starts 3rd quarter or so
4)Phase 1 and 2 go well
5)Phase 3 has EXPECTED results in humans
If ACT accomplishes these step by step, it makes the reverse a workable option, imo. To time the reverse in such a way that ACT is positioned for #5 above with the AMD IND closely following it would provide a possible scenario to make ACT look like the big boys on paper(filings), constant news and results to sustain or increase the pps and possibly make the move to another exchange at a much higher pps where institutions would be much more likely to buy open market shares for long term investments.
I do not see this scenario happening near term but I suspect it will be considered by management when we "accomplish" a few more items. If done correctly it has the potential to benefit the Company and the shareholders provided we move forward as stated above.
The other option is to have 1-1.75 billion shares out there and keep asking for more authorization from shareholders as needed. I am not convinced we can grow into that amount of shares or how market friendly that scenario is, it could work but I am skeptical of it.. Some have sent mail saying "MSFT has 9 Billion shares, so what's the problem?"
Well, MSFT had umpteen forward splits that put their OS# where it is, much different than constant dilution..that comparison holds absolutely no water...lol
Yes, a Company buyback is possible but it would take a ton of cash to be done right. I just don't see that as viable at this time.
Conclusion: With the position ACT is POTENTIALLY in I view the reverse split as a viable option to clean up the corporate side of things and be much better positioned to take advantage and prosper from the perks that come with success. I don't believe an ACT suitor will be involved until the technology is proven and advanced. If I am wrong on that, then the reverse isn't worth discussing. Once again, these are just my opinions but I feel the current and upcoming situation warrants the possibility and those are the reasons I am even discussing it.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47339667
Ernie,
First of all, the only selling has come from Lanza, no other insiders have sold.
The selling by Lanza has had no bearing whatsoever on the pps. The pre-arranged selling over a 6 month period was approx. 3.6MM shares.
600K per month in no way had a negative on the pps.
The 1.4MM he sold Monday & Tuesday took place with combined volume of 105MM shares. Once again, extremely minimal effect on pps, if any.
I honestly could not think of a better scenario to sell 5MM shares and have no bearing on pps than the way Lanza has done it. So far, it has been a non event. That could change, we will have to see.
When you compare what is going out the door in shares to debtholders and at what price it makes Lanza's 5MM share sell look like peanuts. The dilution is the culprit, it needs to stop or be cut back drastically. It should be apparent to all what an almost 1.1B OS# has on upward pps movement...
I am not sure what specifics you want touched on but I'll try. Let me know if you meant something else..
In a nutshell, the CEO, CSO and the 3 board of directors combined received approximately 130MM shares for a job well done. Lanza(CSO) has been selling shares since last may under a pre-arranged selling agreement. Recently he sold more as it appears his restriction is expired. The shares are theirs and once restriction is lifted they have the right to sell just as you and I do.
Caldwell and the 3 Board members received about 100MM shares. They were restricted for one year. They will be able to sell them the first part of February. Once again, they have the right to do so.
Speaking for myself, I felt they handed themselves way to many shares and I am hoping it doesn't take place again this year...
Ruff,
IMO,
volume took a serious drop from prior 2 days.
sells were more prevalent, imo
debtholders have seen the price level off and will add selling pressure as they have for years. Some have shares @ 2 cents, some have monthly redemption shares at 4 cents so they stand to recoup nicely again.
It will take a lot more volume than what we have had on a continuous basis to move upward given the 950MM shares in float.
Yes we have traders and daytraders, yes the MM's manipulate but from past experience with ACT the diluted shares have been the majority of the problem and the main reason we cannot sustain higher pps levels,imo...
this is the time of year(DEC-Feb) when the compensation committee(lol) hands out bonuses. Hopefully, they got enough the last time around? We shall see..
Riddakilla and all,
A big welcome to those new to ACT, the message board or both. The recent clearance to move forward into trials was not only important but critical to ACT's business plan. I look forward to having you folks around.
Happy Thanksgiving to everyone
rumit,
It is also important to note that the standard holding period required by the SEC for a Reporting Company is 6 months. It would be fair to say, imo that all of Lanza's stock is available for sale.
Caldwell and the BOD's opted for one year restrictions.
On February 4, 2010, the Company awarded 85,325,595 shares of one-year restricted common stock to William M. Caldwell, IV, Chief Executive Officer.
On February 4, 2010, the Company awarded its board of directors a total of 15,000,000 one-year restricted common stock.
http://www.sec.gov/Archives/edgar/data/1140098/000101376210002605/form10q.htm
Happy Thankgiving
rumit, Lanza's stock was restricted BUT it has a provision allowing for the release of 1MM shares every month since OCT of 2009 so he has free trading shares available to sell. Also note his pre-arranged deal started in May giving time for the monthly release of shares to accumulate..
4.3 Stock: Following the execution and delivery of this Agreement by Company and Executive, subject to the approval of any applicable regulatory agencies, Company will recommend to the Board that Company grant to Executive restricted common stock of Company in an amount equal to the greater of (a) 20 Million shares, or (b) three percent (3%) of any newly authorized employee stock pool, all of which grants will be made by the Board by no later than the January 2010 meeting of the Board. All such stock granted to Executive will be restricted to provide that Executive cannot sell such stock; provided, however, that said restriction will be lifted at the rate of lmillion shares/month. Executive may receive additional future grants of restricted stock during the Term of this Agreement if determined by the Chief Executive Officer and approved by the Board, each in their respective sole and absolute discretion.
http://www.sec.gov/Archives/edgar/data/1140098/000101376209002132/ex101.htm
I think we all better get use to it. Caldwell and the 3 BOD's have 100MM that will be saleable in February..Run out or get low? issue more..lol
Lanza's sales were NOT part of the pre-arranged selling deal, that ended in October for those that mailed already.
Monday and Tuesday Lanza sold 1.451MM shares. Form filed, link below.http://www.sec.gov/Archives/edgar/data/1140098/000101376210002921/xslF345X03/primary_doc.xml
For those asking, here is the post on share volume for the month of January 2009 during the run to .29. Back then we had a float of 350MM shares. We now have approx. 950MM(shares due 2 directors for financing deals not subtracted). To turn the float 1.35 times as we did back then would require about 64MM in average Volume per day for a month. Hope that helps..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35267812
This company traded on the Nasdaq for years. Just because it is a penny stock now because we did not stay over a dollar and keep the Nasdaq rules does not mean dilution.
Speaking of doing some DD? The above is all BS.
elysse,
My take? Excellent news, this is what we have been waiting for. Now the work begins. Took a while to catch up on the posts, lots of "wind" here today..:)
Hi rumit,
I honestly don't know how or if it is different. If their were no concerns whatsoever we probably wouldn't be having this conversation. Since 2006 it has gone nowhere with the NIH. Hopefully, that will change soon.
louisa,
fwiw, I agree with IR Dan's response. Here is a repost from last year that imo is worth the entire read. IMO, Big Pharmas have nothing to do with the ACT IND not being approved.
The fact remains that it is still the biotech and small pharmaceutical companies that are investing in the early stages of orphan drug development. Big pharmaceutical companies enter the picture once the drug has passed the discovery stage and a significant part of development, too.
Most often, big companies choose to acquire or collaborate with biotech companies rather than start a new drug development program targeting an orphan disease. This strategy has been a boon for biotech companies, which often struggle with inadequate funding. It has also worked well for the venture capital community, as it provides a good exit strategy.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43742448
NO, not according to this,
http://www.otcmarkets.com/pink-sheets/marketActivity/suspended-symbols
louisa,
destruction vs harm, can "no harm" be proven? Thoughts from both angles below.
(slide 83 from NIH)
hESC Lines from Single Cell Embryo Biopsy
In 2006, Dr. Robert Lanza and colleagues demonstrated that it is possible to remove a single cell from a pre-implantation mouse embryo and generate a mouse ES cell line.21 This work was based upon their experience with cleavage-stage mouse embryos. Later that same year, Dr. Lanza’s laboratory reported that it had successfully established hESC lines (see Figure 8.3e) from single cells taken from pre-implantation human embryos.22 The human stem cells created using this technique behaved like pluripotent stem cells, including making proteins critical for “stemness” and producing cells from all three germ layers. Proponents of this technique suggest that since it requires only one embryonic cell, the remaining cells may yet be implanted in the womb and develop into a human being. Therefore, scientists could potentially derive human embryonic stem cells without having to destroy an embryo. However, ethical considerations make it uncertain whether scientists will ever test if the cells remaining after removal of a single cell can develop into a human being, at least in embryos that are not at risk for carrying a genetic disorder. Moreover, it is unclear whether the single cell used to generate a pluripotent stem cell line has the capacity to become a human being.
http://stemcells.nih.gov/staticresources/info/scireport/PDFs/chapter8.pdf
garagist,
MM's or Market Makers, have to sign an agreement with companies, to make a market in their stock. This means, they must establish a bid and ask price for the stock to trade
Not so. Only one(1) MM is needed to sponsor and file a 211 to begin a quote. After 30 days any MM can quote via "piggyback qualified".
This Friday, the 19th, will mark the one year anniversary of ACT filing the IND Application. Seems like yesterday...:)
http://www.advancedcell.com/news-and-media/press-releases/advanced-cell-technology-files-ind-with-fda-for-first-human-clinical-trial-using-embryonic-stem-cells/
louisa,
I would like nothing better than to see a substantial pps increase to benefit the shareholders. The fact Caldwell will have a tough time receiving any bonus for increasing the pps over 10 cents doesn't bother me a bit. For a company with 1.1B shares and trading under 5 cents and not yet in a clinical trial I think $580K($480K salary+$100K retention bonus) plus a "I declared myself a founder" bonus of $8.5 million is plenty for 2010, don't ya think? He was brought in to secure financing and in the fall of 2005 he did just that. We traded at $2.30 per share and had 23MM shares OS. 5 years later he has a bonus program set up to receive almost $1MM dollars if we average a pps of .20 in the 4th qtr? Another milestone I guess..