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The one that says "RECEIVED RRC OF TEXAS APRIL 04 2011"
The one dated while Bayport was in negotiations to reverse merger into a completely different company?
The one dated before Rio Rancho was even a part of Bayport?
IMVHO, the news wasn't that horrible. Ian McNiece was the liason at University of Miami, and speculation is that he will be leaving there or has already left.
IF that is the case, UM would have nobody to administrate this Trial, and has paid an exorbitant amount for a very minisucle portion of the final product.
So if this is the case, then it's logical for Miami to suggest that the company do the study elsewhere.
Since the FDA has already approved all steps to conduct the trial, it's my humble guess that we'll see a new location for it within the next couple months.
I was a buyer for it. Had several orders in from 85 cents down to 50 cents, thinking that it would drop even lower than it did. Unfortunately it did not... or maybe fortunately. Either way I'm loaded here and am still very very BULLISH on the company.
This particular company is not an iHUB play for a variety of reasons, so whatever happens in the market is not manipulated here like many stocks are.
The only ones I know of that funded like this went to NYSE and NASDAQ shortly afterwards.
$4.00 is one of the criteria for uplist.....
Boy my account looks good right now. Debating between an F40 and a Quattroporte ;)
WHEEEEEEEEEEEEEEEEEEE Thats my FAVORITE TRAIN!
Choooooooo Choooooooooooooooooo!
Excellent info! Thank you very much!
This is why posts based on speculation are personally bothersome. Two people having a heated discussion about what COULD happen with no insight into what's actually going on.
He simply means that the Porters could be indemnified from paying if the SEC does fine the company.
And you're saying that an indemnification clause does not protect the company if the SEC fines them.
Both of you are using speculation on events that have not transpired and are now arguing about it. Doesn't that seem even a little bit silly?
Don't they usually do that immediately upon the action being taken?
THANK YOU VERY MUCH!!!
Hopefully everyone actually reads this before they enter comments on what's going on.
What a pack of idiots. Sounds like the FBI has these guys nailed to the wall. Someone said all but 1 has plead out? Wonder why that 1 isn't as it sounds like they have recordings etc.
The ex-president of the company was selling shares out of an account he controlled LMAO! That's the most idiotic thing I've ever heard in pennies.
They reniged on paying for the CXTO purchases too hahahaha! This is too damn funny!
Thats true, they do need to address the issue, but from reading Anvil's uploaded case docs, it appears that the SEC is asking the courts to order EXTO to no longer break the law.
If I was them that would be easy to agree to as there's no freakin way I'd go to jail for a stupid stock.
This may be a moot point. Thanks to Anvil for scanning and uploading the complaint!
It appears that the SEC is asking that EXTO be permanently restricted from breaking SEC regulations.
The monetary damages appear to be personal so far, so specuation on what could happen is premature at best.
Try again. Here is the link and the text.
http://www.sec.gov/investor/pubs/rule144.htm
What Are the Conditions of Rule 144?
If you want to sell your restricted or control securities to the public, you can follow the applicable conditions set forth in Rule 144. The rule is not the exclusive means for selling restricted or control securities, but provides a "safe harbor" exemption to sellers. The rule's five conditions are summarized below:
Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares is subject to the other conditions of the rule.
================
Bayport is not subject to the reporting standard of 1934. They are alternative reporting standard. 1 year restriction on all certs issued.
From the conversation I just had about this, they only found out about it during the effort to change name and symbol.
Guess the previous owners did not disclose this.
IMO, its a thorn, but not a big deal.
Anyone listed as an Officer or Member of the Board of Directors shares are automatically restricted for 12 months AND they have to file should they sell AND they are limited to transferring or selling 1% of their holdings every Quarter.
That does not mean that the company has not entered into some sort of Convertible Debenture or 504 funding, althought that too would be disclosed.
A simple search of filings would give that information.
.005 x .0055 WHEEEEEEEEEEEEEEEEEE MJWL!
MJWL .0048 x .005 HOD was .01, bet we see that high again.
NIIIICE! Gonna put up bid for more and see what happens.
On bid for another 100k at .0046
Just picked up 250k MJWL at .0042.
.0042 x .005 now.
Was on bid for 2500 more, but didn't get hit. Maybe next week. Guess the seller doesn't like selling in the 70s anymore.
Good call! Got lots of room to go up too. Positive earnings, no dilution, CEO that wants a buyout. Those ingredients will bake into a winner every time.
It was VERY VERY fun. A lot of us got in here last July in the 45 cent range.
I like the way you think :)
LOVE to see PROT GREEN!
YAY! Glad to have you back!!!
The chart seems to agree with you. Think the baseline is in the $5 - $5.50 range for a bit. Believe me when I say that makes me VERY HAPPY! Hahaha
Next leg up should put us in the $7.00 range.
Wheee and BOOM all at the same time. Very nice action today. Saw someone on bid for 35000 shares, not sure if they got all tho. I got some more, another 1250 I think.
29,500 shares being held nice and tight so far.
If you think today's L2 action was wild, you should have been here in January. Holy crow it was intense.
Notice this part?
Remember too that this is Institutional funding. They do not want a small gainer. Taking a 15% Discount to provide $3.8m funding is very very good in todays arena.
Many of the smaller companies want 20%+ discount and will only do $20,000 at a shot.
This is incredible IMO. And the market thought so too. What did we close down? 1%? On roughly a quarter of a million dollars trading volume?
So this did not set off a panic on the street. The stock recovered from its low of the day shortly after the release came out. If it was somehow negative, then the street would have responded with one massive sell off.
I'm encouraged. I'm actually considering buying on dips, and adding to my already large position.
Easy answer. In order to keep this scam alive and be able to DUMP MORE SHARES, they have to keep the SEC off their back.
Easy way to do that is to put out pretend financials. By the way, those fins show:
ZERO REVENUE
ZERO CASH
AND ALMOST 1 MILLION DOLLARS OF THE MOST TOXIC FUNDING POSSIBLE
Shareholders here are STUCK. No Volume, No Income, No Cash. Only choice here is to do another PUMP AND DUMP to get some cash for the company.
Since the 1 - 10000 R/S there have been a total of 6506 shares traded. At BEST that is $3253!!
So far today ZERO SHARES TRADED despite the fact that the company put out news.
How soon before they clear the $900,000 Convertible Debenture?? How many shares must they create to pay that HUGE LOOMING DEBT?
Trading summary for this POS.
2012/03/05 0.50 0.50 0.50 0.50 400 0.50
2012/03/02 0.10 0.50 0.10 0.50 2,700 0.50
2012/03/01 0.49 0.50 0.49 0.50 3,406 0.50
Nice! TY much! What I like is that the company has a solid floor on the price per share, not a discount from the lowest close price in the last XXX days, like most toxic financing.
I have a buddy at Rodman and Renshaw, they tend to be as good as it gets in the funding world.
This should give them enough capital to uplist now :)
Such a lovely colour, that GREEN.
Nice volume today too. 86k shares, about $5 a share so slightly over $400,000 traded here today.
Once we get the news we're waiting for, I think this is going to POP again.
Over $366,000 traded today. Definately NOT an iHub play. GOOO PROT!
No opinion. FACTS. Cold hard facts.
Fact 1. 1 - 10000 REVERSE SPLIT just kicked the SHIQ out of every shareholder here. The company diluted until the stock was worthless and did a Reverse so they can do it again.
Fact 2. The financials show ZERO money in the bank. None. Nothing to pay a bill with. ZERO. They are going to have to dilute, and with the 1 to 10000 Reverse they have plenty of means.
Fact 3. The post Reverse PPS did not even hold shareholder value! They drained that away too. So not only did shareholders lose their shares, they lost their value too.
This should be criminal, unfortunately it's only Immoral. But I guess morals have nothing to do with this company.
Good luck here. I'm done with this POS. It's too easy to bash. Hope you decide to stay on your side of the fence too.