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Yes, and thats exactly what one of the intended purposes are for the R/S. To get rid of the game players.
Sequel, interesting. I agree. She is following a similar formula as she did last time that brought her last company a lot of recognition and sales. Partnering with big firms, bringing to market innovative products, multiple distribution points. Yup, definitely a sequel.
Rerun? No way. Last time around you had an $8m funding pulled out from under them when the market crashed, they put in $600,000 of there own money to keep it going, they had $4,500,000 in debt when they put up their own money.............and current shareholders in this company DON'T CARE.
I checked that last company's 14c as well, and I notices almost 30 shareholders supporting that decision as well. She has shareholder confidence. As far as I can see, they have disclosed everything they are required to, and people are still buying their stock. I think your points are starting to become a redundant because all the information is all tree if investors like myself what to know more.
I know at least 20 other shareholders, all friendly and supportive of Lorraine and this team. It really appears that YOU are the only one who is complaining. None of the others are. We really don't care how this company was started, or who owns what stock - it doesn't make a difference. And trust me, I speak for many shareholders here. They disclosed everything, and thats the only reason why you are able to bash them.
Your assessment is extremely jaded, IMHO. Failure is a relevant term. I see it as the company didn't fail its shareholders, the investment community failed that company and its shareholders. I don't consider failure being:
Contractual partnerships with Master Lock, Honeywell, etc.............after being vetted for months
Designing innovative technology products that worked
Introducing to a new market their technology and attracted big brand partners
Revenues collected of over $14,000,000 first year on a single product they brought to market
Confirmed sales through 1400 Home Depot Store, 400 Sears stores and other retailers with reorders
Raising $5,000,000 for manufacturing, sales and operations
Personally guaranteeing the company debt
Losing $8,000,000 in funding in late 2008 when market crashed and no one was funding
Putting in and losing$600,000 of their own money to keep the doors open in the face of $4,500,000 of debt.
See, I call that a dedicated management team that learned lessons the hard way. The investment community failed that company, not management. The company didn't fail its shareholders. The election and ensuing market crash did, just like tens of thousands of other companies. Master Lock fired 10% of its entire worldwide workforce. Honeywell 15%. So it wasn't just them.
Actually Dave, not only am I a physician, I started an entire plastics/recon business with over 14 surgical suites over the last 20 years. And yes, it is a business. I hire employees, order supplies, make marketing and advertising decisions and I have also consulted for companies making surgical tools. My revenues are in the $20'sM annually, and I am in medicine.
You make a lot of assumptions in your posts - and I have to point out - all negative. So while I understand where some of your business points are coming from, neither you, nor I, know what this company is going to do with any degree of certainty. I think it was well explained by the CEO the direction she intends to take this company, and like myself, you are free to agree or disagree with her. Then again, both you and I do not know the particulars or the reasons why. Any position otherwise is just a guess.
And from a medical insurance perspective, the way to get the safe covered by insurance, we both know, is to have it approved by the FDA as a medical device or a piece of medical equipment. And I know that is in the works as well. I spoke to one of the other directors a while ago, and was told that is in the works. How and when that will happen, I don't know. But I do see other products that 510K will be applied for so I can only assume the safe product will be as well.
I don't know the entire game plan, but I can see the direction, and it will take time and money. If you don't want to give this company time, thats your choice. But to endless bomb this board with nothing but negative rhetoric, I would expect at least a balanced, seasoned opinion from someone who claims extensive business knowledge. Your attacks are one sided and you have never pointed to ANY of her accomplishments. So I am tired of being the other side of what should be a balanced assessment from someone who clearly has other motives, just as you do on those other boards. I will sit back and wait to see what happens with the split, sales, etc......... Hopefully when I return, it will be an "I told you so" moment.
I don't think they have put much, if any effort into sales over the last few months. I get the last few months were a restructuring process for them. The CEO even said it. I am willing to see what they have planned for sales in both markets, and I am fine waiting to see what they are. If you're not, you made your point, and its time for you to move on like a big boy.
Oppsss,, that makes 2, one with NO REVENUES!
http://oncosec.com/ceo-perspective-reverse-split-and-uplisting-2/
If thats true, then the tweet about shooting the commercials makes more sense now.
HOLY COW. Multiple million share bids? I think my L2 is glitches! Its a GLITCH!
I like to think myself as a forward thinker. My broker sent this to me a few weeks ago and I just came across this again. Its an interesting read. I am IN this industry and I didn't know that medical device companies make up 33% of all DEALS in healthcare.
https://www.cbinsights.com/blog/healthcare-venture-capital-top-mosaic/
FDA certification makes the devices a "medical device". That much I know, and RXSF will be seeking certification for 2 medical device products, each with its own multi-billion dollar submarket. Just seems to make too much sense to me. Let's hope.
C'mon Dave, we had this "equality" talk several times already. Its NOT 11,000,000 shares at .70 (seventy) cents. Its 55,000 shares at .70 cents. 11,000,000 shares at .0030 Just keeping number straight here.
It comes down to whether you trust management. I guess you don't. You expect the worse from them and personally, that's your opinion, not mine. But I respect your opinion as you should do mine. Plus, I am actually invested here so unlike you, I do have something to lose. CEO explained those preferred shares will probably have to be used as concessions to bring in a legit banker. Even if the did convert they are all restricted and subject to SEC sales. I don't think anything is being done underhanded. To the contrary, I think they are being smart about it. They control the votes and direction of the company. They deserve to since they started it. I look back at their history and they have put much more into their ventures than they got out of them. They take all the risk. My only risk is my investment. It's not big but it's enough for me to make a decision on staying and buying more or abandon ship. I have seen too many positives compared to speculative behaviors.
If you are going to look back, then don't be selective because it really trashes your credibility.
I know the backstory on the prior company and how this company started as well because I asked questions and did my DD too early on. I will let the CEO fill in any blanks I forgot something. You should call her and ask her directly so you have the information to paint the whole picture. Once that is done, shareholders can make up their minds based upon all the information, just like I did. Some points have been brought up standing alone, paint a skeptical picture, but because I know the backstory, I see no correlation or validity in your negative nuances. If I thought you bashers were doing this to help us better understand, I would appreciate that. But I don't. Only people who want to exact vengeance do what you do, like it or not. You must have some lost stake in this company to come out so strongly and raise negative nuances based on partial facts.
For instance, did you know that they put in over $600,000 of their own money after they lost an $8,000,000 funding when the market tanked in late 2008, all in the face of $4,500,000 convertible debt in order to pay their managers and other employees? You didn’t reveal that they personally guaranteed those debts, did you. Did your DD show you that they did the reverse split in early 2009, still during the crash, to recapitalize the company to try to attract new money since they were manufacturing 10's of thousand of products for Home Depot and Costco? Did you know that MasterLock spent 6 months vetting them personally, testing and validating their technology, verifying their factory before they put their name on their products? The other companies reverse split was to try to save that company because it had steep financial obligations all at a time they lost their funding due to market conditions as well as putting huge personal money into that company and personally guaranteeing those notes? Did you read the release where Home Depot sold out of their product in 45 days, 23,000 units across 1400 stores and reordered several thousand more units? I see this as a completely different company from a corporate structure and capitalization/debt aspect than the last one, with a completely different set of facts that paint a far different picture than what you would like. The other company’s reverse split was a last ditch attempt to save it, where this reverse split is the first attempt to set the company up to to attract real money and uplist. Huge prior debt versus relatively no debt now and none soon. Big difference when you explain all the facts.
Someone has been trying to point to “same old technology”. Another unsubstantiated claim from someone who tries desperately to mislead. If you read any of the actual filings, you will see that the company has made substantial improvements to its' technology. They increased user capacity from 9 to 120 (so it is applicable to commercial healthcare), they just added an administrator function (also required by healthcare), they have changed processors so its faster, and they will be adding a lot of other features like Bluetooth and wifi. I read.
All I see are the good parts of her prior history being repeated. Your onslaught should lead investors to think you have ulterior motives.
If you read her letter, and have the experience you claim to have, you would have understood. Obviously you only want to highlight any possible negative nuance to detrimentally affect this company. No company is perfect, and this is one of them.
As a medical professional, I see a company with a technology that has a huge potential in my industry, relatively little debt, innovative and needed products, a successful history and track record of aggregating and developing an IP portfolio, developing products that big brands want to put their name on as well as selling millions of dollars of products, putting their own money up to continue their efforts, and not going down without a fight. I don't care what percentage of the company they own, or who owns it, as long as they are able to control the growth and path of this company, I am in.
That’s why I will forgive any missteps along the way in hopes she takes me to the big dance.
The the person who PM me....foolish is what foolish does. Time will prove who is right and who was lying.
And with only 250,000 shares in the float................yea, I can see why it would go down. They just want more stock now, so they want everyone to sell down here.
Its really quite simple. It neither my job nor my responsibility to do your DD. But the way the SMME card works, from the standpoint of the mechanics of its biometric interface, it sure looks like it infringes to me. But I am not a lawyer, I am a physician who has been in this space for a very long time. I know the CEO of that company once tried to reach out to Chaya - whom she blew off. I am sure that will come out as well at the appropriate time.
I can tell you when you will find out. Once this company releases the card, it will find out. Until then, its all hyperbole.
Actually I will. Absolutely none.
I think you are reading the financials wrong. They aren't real cash losses of $2,500,000. Almost all of that number is "accounting" losses because the way the company has to account for stock issuances. Actual losses are probably more in the area of $100,000.
LOL, thats true. And she had contracted with Masterlock, right here in Wisconsin, to put their 100 yr old brand name on it, and it all sold through with thousands of re-orders. Thats what got me interested in this company to begin with. See, I DO my research and I don't cherry pick the facts. I spoke to one of the board members a few weeks ago, and she told me, wait until they release the KRAKEN. I took that meaning Lorraine.
Paper losses of $2,400,000 because of stock issuances, not hard money losses. And no revenues ........guess this doesn't get the ball rolling now.....
We will be going live with a major retailer partner online and shortly thereafter will be announcing a pilot program for the Rx DrugSAFE product with this same partner, who is one of the largest national retail pharmacy chains. The program will be launched in 2 key strategic geographic markets initially, with the hopes that the results will warrant a national rollout in 2016.
This confirms to me that they have a plan and I am sure its much bigger than whats in the 8K. They are cleaning up the toxic convertible death knell debt by using an interim solution. This must be a first step for something much bigger IMHO. So they draw down $250,000 and pay off all notes. Guess thats what she meant by cleaning up the books and getting rid of all that toxic death debt by the end of the year. I think this is a plan thats doable.
Obviously she is going to be criticized, but I think its a move in the right direction. Take out all the toxic convertible debt with a lower conversion rate, liquidate the balance of the new stock in the market post split......and I am guessing you don't do this unless you have something much bigger in the works. Maybe big market support after the split, maybe a much bigger equity investment, who knows, but I like it nonetheless.
I do well in plastics and recon. But my bigger picture is drug abuse. I know so many patients whose kids ended up addicted because it was easy for them to get scripts from the medicine cabinet at home Read the news. Look at what the government has plans for in 2016. Then go read about drug diversion. My hospital alone loses about $17M a year because of drug theft. So while the stock game is fun, the bigger game is saving lives. Show me another company thats solely concentrating on this. Thats why I invested when it was private. Thats my oath.
They won't. I am sure they have a plan or they wouldn't have pulled the trigger. These guys will all disappear because no way can they play with the big boys. They will learn what being run over feels like.
C'mon Tony. This is what you do. Of course its short - probably a few million short right now. eventually they will have to cover, and they will. I trust this CEO to have a plan, or she wouldn't have exchanged her salary for more shares. So whatever happens now is basically irrelevant. When I see NASDAQ MM's (real MM's) jump in here after the split, all hell will break loose. If I see that, I will just continue to sit back and watch the fireworks. Flippers, leave. Shorters, screwed. The company is reseeding with real investors.
Pretty sure this company has a post split strategy. Probably doesn't include shorters and flippers.
I am told what you are seeing now (which you are a part of) is a massive short game. They seem to be intentionally walking down the price. Doesn't matter where the price is today, or in 14 days from now, it will be a brand new game after the split. If they say they are looking to uplift, I believe they have a plan in place for that - or else they wouldn't be cleaning up the cap table. Thats just obvious.
I really don't care who owns what. I don't look to see what other people have in their pockets. Thats a game shorter's and flippers play. I'm in at .25. Thats right, at a quarter. And the reverse really crushes my holdings. I'm not complaining. I did my DD, I have spoken with the CEO (actually met her about 3 years ago), and I understand what she has done up to now and what she is trying to do. In fact my broker keeps giving her a lot of credit, and my broker works for a huge blue chip firm. In a few weeks, all this won't matter. If her plan doesn't work, yea, I will be mad, but I can absorb the loss. If she is right, I will make a lot on my initial investment and whatever I have been picking up since. I know there is a reason why the stock is down this low. She pointed it out in the update. And I believe her. She has been nothing but transparent, maybe to her detriment. But you can't make everyone happy. You can try, but you need to go into politics for that. So slam away, it doesn't effect me.
KGS68, you need to confirm this with the CEO, but the same team also put in over $600,000 into that company after it lost its multimillion dollar funding at the time of the late 2008-early 2009 stock crash while facing over $4,500,000 debt. Their own money to try to save it. I certainly don't begrudge her for taking stock at a discount in lieu of salary and retiring audited and disclosed debt from 2010-2012 to friendly shareholders. Obviously this guy is out for vengeance.
Where is this split you are referring to? Looks like the increase in AS was to cover the reserve necessary for the death spiral notes. A business man would know that every death spiral note requires 5 times the shares at the lowest bid price over the past 20 days trading. Looks like the company ran out of headroom. That's probably why they increased the AS.
On anther note, I met Lorraine about 3 years ago at an investors meeting and was impressed with her then, and wow, does she look great in that video you posted. Think we have one of the best looking CEO's out there.
WOW, approachable, honest and smart.
Another great post from someone who is not vested, but I guess works for a disgruntled consultant or shorter. So what they got stock at .0016, only shorters and flipper would care. Why not point to the same exact conversion percentages that the death spiral funds have, but the difference is the stock is now in friendly hands AND is RESTRICTED. You are a joke. You only tell half the story and use that as a sword in a sick way to try to prop up your credibility. Only real shareholders would care that the insiders took advantage of conversion percentages the same as the death spiral guys. And guess what - THEY DON'T. In a few weeks this won't matter too much, but it is important that when you present the record, you present the whole record. And if you think your babbling diatribe will sway a legitimate investor, especially some of the big boys we all expect to come in at some point in the future, reminds me of s JUDAS PRIEST SONG my daughter likes......."YOU GOT ANOTHER THING COMING......".
Just keep in mind, its not todays price that matters, its the price on the date of the split, and then afterwards. Right now, its a game players field day, and the CEO said it would be turbulent. Players are looking to get out of this whatever they can before the companies cap table becomes legit. Nothing new here. Holding very long and going for the ride.
Actually, its an explanation that is backed up by all of the companies filings Dave. Its not blame. The company has been carrying death spiral convertible debt for months. She was able to take the first one out, but 2 of them hit in the last few months. One in June (16M shares traded in one day), and last week. If you read the filings, 10's and 8's, you would see that those converts had a 35% discount to market. All publicly disclosed. What they do is convert their debt up to 4.99% of the outstanding shares of the company (so they don't have to report) at 35% discount to market, then the market gets tanked, THEN, they convert another tranche at a discount to the lower price. I thought you said you had business experience - because if you do, you would know this and understand how this works on OTC companies. Its called DEATH SPIRAL funding Dave.
And again, I say you expect the CEO not only to put her own money into the company to support it and pay its bills, but she shouldn't be compensated? Said by a true shorter and flipper, oh thats right.........you aren't even a stock holder, just a do gooder, isn't that right? I am not a major shareholder, but I have a nice position, and had it for years - since the company was private. You claim to have a lot of business experience, but I doubt it strongly you ever had the responsibilities of a public company CEO. Myself, and the other supportive shareholders (whom probably collectively own 85% of the company stock) are in full support of everything she does for the company. She is transparent, honest and has brought this company to this point with no money. All traits that flippers and snorters hate. Again, NO MONEY. You don't develop a technology company with NO MONEY, but she has. And THAT is an indication of a dynamic CEO.
So whatever your game is, pointing to facts without explaining the whole picture (just like the MSM), then really, be gone.
I think they are exempt, but you need to confirm that. And so what if they are? It seems that those shares were provided to supportive insiders whom by definition, have to follow Rule 144, meaning when they convert, that stock is restricted. 6 month wait, then subject to further rules limiting what they can sell. But what my takeaway here is that those preferred holders will need to make a deal with an institutional lender in order to uplist. And those types of deals are usually further lock ups on the stock. I certainly won't care about them converting if we are on NASDAQ and trading in the twenties anyway.
Only shorters and flippers care so much about dilution, just like those death knell convertible notes at a discount to market. Its ONLY about the stock. Nothing about the company. In fact, I knew brokers that didn't care about the company, its management, its products, its market, as long as they can bury stock, they are happy. Thats the wrong investor attitude for this company. If you want fast plays, invest on cannabis stocks. If you want a real long term play, invest in something that is actually a sustainable business.
Pita, I think you have been unfair to a management team that is trying to do the right thing. I don't know if your a shorter, or a flipper, but a couple of things I want to point out so maybe there can be some more clarity in this emotional roller coaster.
Some of the things you are quoting are obviously historical, and I would guess fairly old. The company seems to have restructured itself, so the next Q should be very telling. You said things like they sold product and a year later it was pulled from the shelf......do you have proof? Because if you are referring to the 23,000 units based on a 80,000 unit contract with Home Depot, for a product that Master Lock vetted, tested and put its historic brand name on, then you need to find the info like I did. The prior company delivered over 20,000 units and within a month of its initial delivery, the HD stores ordered another 5,000 units. They were built, delivered, sold and branded Master Lock. Show me another team that has done that? Especially with the kind of technology they developed.
Others claim insider dumping, but alas, no 144's or Form 4's filed. But if you read the last Q carefully, a death spiral convertible debt came due last week and obviously they converted part of it. Did you also read where the CEO said they paid the balance off to prevent further dilution?
Should the CEO continue to work without compensation, just so shorters can keep making money shorting and death spiraling the company? At what point would you give up?
How about the preferred shares held by the insider/affiliates? Do you think after putting $100's of their own money into this company, they are going to dump? And under what rule? They are insiders, subject to rule 144, so IF they convert, they convert into restricted securities with a 6 MONTH HOLD. Then they can only sell 1% of the then outstanding float over a 3 months period AFTER the 6 months.
A lot of these facts have been intentionally left off by the same people this reverse split was obviously designed to get rid of. I expect a very bumpy ride over the next couple of weeks. If you want to short it, or flip, it, you can contribute to the ride, or pick your price, acquire, and wait. All stocks on the OTC are full of hopes and dreams, but what I have seen Cheeky posting has all been audited, and passed on by the companies counsel as well.
I would say, if you had to take a stab at an OTC company whose management is committed and trying to do the right thing for long term survival and growth, then give it a shot.
I don't know what to make out of you yet, because your posts have obviously been one sided. We will see. Good luck to you whatever you do.
They have been very transparent and have telegraphed what they would like to do. Maybe we all would have liked to see something more definitive, but transparency is a very good start.
I see that none of my prior questions have been answered, so I will just keep waiting.
Whose holding?
I AM!
Dilution? Only if it hits the market. According to the update, it is unlikely, and if it did, its restricted, they have to wait for 6 months before they can start selling, and then they can only sell up to 1% of the outstanding shares at that time, every 3 months. No worries here, Mr. Shorter. Thats a dedicated group of shareholders willing to take the hit for the rest of us.
My broker told me that on any reverse split announcement on an OTC company this size, the shorts come in heavy to squeeze what they can out of the stock until the actual split, then leave. because at that time, its game over.
Actually, AWAKEN has finally got something right. It appears that the last 2 death spiral debt conversions used BKRT and VFIN. THANK GOD this company is doing the split, because MM's like them ONLY play when they can short and bury stock. With a 250,000 share float coming, there will be no where to hide. Actually a tip of the hat to Lorraine. Its brilliant. The only ones here complaining are the short gamers.