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NNAN(E) late with its filing again:
"NaturalNano, Inc. (the "Company") could not complete the filing of its Quarterly Report on Form 10-Q for the period ended June 30, 2009 due to a delay in obtaining and compiling information required to be included in the Company's Form 10-Q, which delay could not be eliminated by the Company without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company will file its Form 10-Q no later than the fifth calendar day following the prescribed due date."
Oh, no, it didn't which is why it has once again gained the E suffix.
Interesting to note just how much of BIPH's common shares Platinum holds:
"Platinum IV beneficially owns 1,312,358,676 shares of Common Stock representing 95.2% of all of the outstanding shares of Common Stock"
They used to be labeled by the NNAN supporters as "sewer rats" until it became clear that to all intents and purposes, Platinum are the same people as NNAN's previous "management".
In the fullness of time, it will doubtless be disclosed that Iroqouis had a similar relationship with Biophan as Platinum had with NNAN.
Given that BIPH and NNAN share the same founder and indeed until recently had at least one Director in common, we shouldn't be too surprised that both companies use the same playbook, that has as its endpoint to strip their retail shareholders of all their cash and give it to "management" and their toxic finance cronies and other known associates.
One day the SEC will act, but unfortunately all the offenders will probably have passed away by then. While some might view that as a good thing, I'd rather see justice served in a more temporal way.
Old Nick can wait, after all, unlike many of the Mom and Pop investors Messrs Weiner, Lanzafame et al have robbed with the connivance of their help such as "terryhallinan".
"Well, I guess that means that you made it up."
No, it just means you don't care to verify that arranging a trade off the exchanges by private correspondence is a Securities law violation.
There's one way I could show you that's undeniably true, but I'm guessing you probably wouldn't want me to do that.
BTW, it's discourteous to accuse some one of making things up, just because the information they give is inconvenient to you. Particularly when you should know it's true.
As you were.
"Please provide SEC rule backup for your comments."
Tell you what.
It was only a friendly warning, and if you or others can't be bothered to check it out, so be it.
Feel free to ignore my comments, or even do your own due diligence.
But I am surprised that a CPA would think that fixing a buying and a selling price (both sides of the trade) on a publically quoted stock on an effectively private forum wouldn't be illegal.
Careful!
As any CPA will tell you, you need to be careful here. Using a little known, off-the-beaten-track, message board to organise and plan trading on a relatively illiquid penny stock is often viewed dimly by SEC and other securities regulators.
I'd sure hate to see any of you end up in trouble for some innocent mistake.
And I'm being serious. What is happening here is highly illegal.
"Other actions taken by the board in this regard include management and staff reductions."
I belive I may have mentioned before on this MB that the end game of penny stocks run for the benefit of their managers, like BIPH, often involves terminating several staff, but giving them generous severance terms (some of them contractual obligations, set up among themselves).
One of the most impressive of these was at barely alive fake biopharmaceutical outfit Pro-Pharmaceuticals, PRW, where the COO was fired, given a huge severance payment by the then CEO, then within months was re-hired as CEO without repaying a sous of his "severance" payment, while the old CEO (a truth-challenged recidivist known as David Platt) was then given a multimillion dollar settlement by the new CEO. The best bit was they used so-called family and friends money to make each other rich. An absolute classic of its kind.
I think you can be reasonably sure that all these folk who have been laboring away arduously to turn BIPH from a three dollar stock to a sub-penny stock while not advancing the Myotech CSS device one iota, and simultaneously siphoning off between 10 and 17 million dollars to themselves and their cronies will have generous severance terms.
After all, if they stayed with the ship until the bitter end, they would they find themselves at the bottom of the list of unsecured creditors, along with all the private retail shareholders like you.
By this stratagem, when Biophan goes bankrupt, as it in my view inevitably will, they can still walk away with their pockets stuffed full of cash.
I suspect that the $250,000 Lanzafame paid for the Myotech CSS rights and patents - now who was it he paid? Ah, yes, Lanzafame - will be distributed among the good ole boys who've already made themselves rich at your expense.
Of course, now that Lanzafame has excused himself from the tiresome necessity to file SEC reports, you'll probably never know how much those poor souls who were "reduced" have been paid to soften the blow.
Which some might regard as surprisingly convenient.
" But one thing I know for sure. I know a lot more about FASC than you do."
Don't dispute it for a second.
I'm impressed by your omnipresence here. Always ready to put a favorable interpretation on any event concerning FASC, and always with a rosy view of the future, an uncritical reading of the SEC filings, and optimistic about the likelihood of a significant sustained increase in the price per share of FASC.
One day you may even be proved to be right, but that hasn't happened yet for the past several years.
And that's one of the patterns that any objective observer would have to acknowledge.
As you were. Again.
"You want to make sure you beat any new news to the punch."
First translation: make sure you buy before the earth-shattering announcement that a (revamped and renovated) KDS has been relocated from Kuala Lumpur to Outer Mongolia, treated as a sale and promoted by the denizens of this fine message board as a harbinger of great things to come.
My best guess is that should happen around 2013 (September, I'd say, but this isn't an exact science, so please don't hang me for a month or two either way).
Second translation: The news may be that there is a reason for the consistent failure of the FASC pps to respond to the endless PRs and optimistic postings that populate this message board. In fact, you may be best off never buying a single share.
You can probably guess which translation I favor, but then I've made a long study of stocks like BIPH, NNAN, ALMI, ITRP (IESV),VRA, GRGR, APHT -oh, and FASC- and the rest, and I can recognize a pattern when I see one.
As you where.
"before I can buy a non-marginal stock like FASC."
Actually I can think of few more stocks more "marginal" than FASC. It may not be marginable, but, Jumping Jehosophat, it's certainly marginal.
"just bought some shares...go GRGR"
Have you thought of setting fire to your money instead of buying Green Energy Resources, Inc (the definite subject of this message board)?
That way you would have a temporary source of heat and light, and you (and Society) would have the added bonus of not giving your money to a crook.
I suppose we shall have to think of it as a form of financial Darwinism. Joe Murray, CEO of Green Energy Resources, at least will know what to do with your money (hint: I doubt it will be anything to do with this business he claims to be running).
"@.011 to add more with breakout"
Alternatively hang on to your money to help pay for the class action suit.
While BIPH the company may not be worth sueing, the crooks who ran into the ground while siphoning off the retail shareholders' money assuredly are not short of money and should be forced to disgorge some if not all of their ill-gotten gains. After all, they transferred around $10 million (conservatively) to $17 million (actually) into their own and their cronies' pockets.
Even the erstwhile most prominent supporter of the company's "management" has just labeled them as "thugs" over at Ghost Town, in a surprising but welcome acknowledgement of the criminal culpability of Weiner, Lanzafame et al.
Maybe there's hope for even the most incorrigible of stock promoters (especially when the paychecks stop).
"I suspect we'll break into the .03's early in the week."
And I suspect that "we" could just as easily break into the .02's early in the week.
But then I'm just a disinterested observer rather than some one who seems to have an awful lot of skin in this particular game.
A whole lot of skin, to say the least of it.
"I think sunspotter is buying again."
Not so much of the word "again".
As I've explained many times before, I'm not a daytrader, which is the only reason I can see to buy stocks such as those you seem to like, for example BIPH, NNAN and FASC.
I've never bought a single share of any of these companies for the simple reason that I view the "managements" of each of these companies as grossly incompetent and venal at best, and more likely crooked.
The fact that these three companies and another handful I could mention are all promoted by the same penny stock hucksters with just the most appalling ten year record of failure tends to suggest I might be on to something.
So, not only have I never purchased a single FASC share, I can promise you I never ever will.
I do hope that clears things up. If not please feel free to ask for clarification.
"i could see where someone would be upset if they thought BIPH actually brought most their techonolgy's to the public forum, but they don't, they sell them. thats what this company does."
I don't wish to be pedantic, but actually that's not what this company does, or rather did.
It actually bought the Myotech CSS device, for a sum that we can all agree was well over $10 million, and that the SEC filings and I would peg at $17 million.
(The inconvenient truth is that they bought it from a bunch of insiders, some of them associated with Biophan itself, some with TI and others who are part of the same clique, for example the Anstadts.)
Then they sold it, when it was clear that even the normally compliant shareholders weren't going to give them any more shares to give to toxic financiers, presumably because they figure that Weiner has a big enough yacht already, and that Mr. Lanzafame maybe didn't deserve annual remuneration of $629,000 as declared in BIPH's filings.
But they didn't sell it for $17 million, nor $10 million or even $1 million.
Instead they offloaded it at $250,000 and a nebulous part -20%- of an even more nebulous income stream to a shell company established by Biophan's current CEO, while at the same time removing even the small vestige of transparency that having to file with SEC required.
"20% of what is considered a break through technology is not horrible"
Sorry, but breakthrough technologies do not get sold for $250,000 and a mess of pottage, any more than they languish for several years without any kind of study or development on a real company's shelves. Besides which they had a 100% before they sold it to a brand new company with no other products and no track record of anything except Mr. Lanzafame's abject failure with Biophan.
Companies with breakthrough products attract real partners with real money, and have studies conducted on them. And the companies developing them shout about their progress from the rooftops to potential partners, set milestones and meet them.
Companies with breakthrough products don't focus on gulling potential investors through penny stock scam promoters like Agora Taipan and dishonest message board posters.
If the cap fits............
"the least you could do is use my full quote concerning biph rather than picking the dangling part you like when calling a shill."
Actually I was thinking of your IV posting buddy who when not posting racist insults about me (and in fairness about anybody else who "disses" his clients) likes nothing better than to lie about Biophan's history, prospects and position.
Quite honestly I had you pegged in the first camp I described:
"Frankly, anyone who doesn't acknowledge that the game is up, and that the ordinary shareholder has been fleeced, is either extraordinarily optimistic to the extent that they are in denial of the facts or is not being entirely straighforward in their posts"
But if you claim to belong in the latter camp, so be it.
Lord knows you've been discourteous enough to me in the past when I've tried to point out the truth about Biophan and its "management", so I guess it's plausible.
"once again there may be more here than meets the eye"
Nah.
What you see is what you get. The chaps (phew! close one there - I nearly wrote "crooks"!) running this show have decided that they've pretty well wrung you shareholders out, and now it's time for a new game.
At Feb 29 2008, less than 18 months ago, Biophan's 10K showed assets of around $27 million.
The two biggest components were cash, at a shade under $7 million, and the carrying value of the Myotech CSS device, valued at a shade over $17 million (as this was what Biophan's "management" had paid the private owners of Myotech, some of whom were, of course, the same people).
Cut to today:
Virtually no cash, except $250,000 received for the asset that was purportedly worth shelling out $17 million of the shareholders' to buy. That asset has been transferred to a company that is also controlled by the current CEO of Biophan, Mr. Lanzafame.
Wonder where the money went?
It wasn't you shareholders who got it, best as I can determine.
Nor was it spent on any activity that would have moved the Myotech CSS device closer to FDA approval.
As for Myotech CSS, I have previously predicted that the IP would be transferred out of the company.
I can guarantee that the next thing to happen is that any cash Biophan has remaining on its books will be:
- paid to John Lanzafame as salary (who could begrudge him, after all?),
- given to various employees and consultants of Biophan as "termination payments" (these guys like to get their paws on the readies before the rest of the creditors, and that's the way to do it)
- and transferred to MyoCardioCare as payment for equity, or product rights ot whatever flimsy excuse they can think of.
And of course, none of that will be transparent, because now as a "dark" company, they don't have to file a thing.
Until they file for Chapter 11.
Frankly, anyone who doesn't acknowledge that the game is up, and that the ordinary shareholder has been fleeced, is either extraordinarily optimistic to the extent that they are in denial of the facts, or is not being entirely straighforward in their posts.
And like all the best shell games or three card Monte tricks, there's usually a shill in the crowd pretending to be an ordinary punter.
I wonder who that could be?
"tells me that it looks like someone might have needed money fast."
If the person selling has been a long time FASC shareholder, you could kind of understand why they might need money fast.
Years of holding this stock would have the effect of diminishing cash reserves to worrying levels, I guess.
Shame you can't make money out of hype and promise ,at least not as a shareholder (I guess for Officers of the company that might just be possible).
Then FASC longs would really be millionaires.
"I would be surprised if a settlement is not reached between the two companies without litigation because they both have an interest in the others success."
Not necessarily. In my view, acknowledged ALMI crook "Jake" entered into a criminal conspiracy with equally well-known NNAN crook Mike Weiner to create a false market in both companies' shares. It was the fictional transaction between these two companies, unearthed and disclosed by short-tenured CEO Dumont, that precipitated the collapse in ALMI's pps when it was publically acknowledged they had booked a non-exostent sale.
Now that "Jake" has been ousted after an internal investigation linked him to securities fraud and financial fraud, and Natural Nano has been exposed as a shell set up for the express purpose of transferring private investors' money to a small clique of insiders and their toxic finance friends (the latter group now outright own the company) I can't see why the new, presumably honest, folk running ALMI would want to cooperate with Jake's old partners in crime.
"stockholders who now will be holding illiquid securities may sue the board of directors for breach of fiduciary duty
A more obvious and egregious breach of fiduciary duty was Mr. Lanzafame's extraordinary move to sell the Myotech CSS technology at a knock down price to his own shell company set up by him with his pal Frank Terrizzi.
I can only think Mr. Lanzafame didn't realise that a DNS search of MyoCardioCare (thank you b9molecule) would reveal that he was the founder.
It was also interesting that the contract appended to the SEC filing had Lanzafame's signature as BIPH's CEO, but Terrizzi's signature as MyoCardioCare's President.
They must think Biophan shareholders are an extraordinarily naive and gullible group (!).
That said this is certainly an actionable breach of both fiduciary duty but also of securities legislation. Not the first by this bunch, and probably not the last, but perhaps the one which will break the camel's back?
For the sake of justice and good order in the financial markets, let's hope so.
Indeed.
Here's the article in question:
"OBPA's lack of unloading equipment hurts business
By MAX R. MITCHELL
TIMES STAFF WRITER
MONDAY, JULY 20, 2009
ARTICLE OPTIONS
A A A
OGDENSBURG — A wood chips supplier claims the lack of special equipment at the Ogdensburg Bridge and Port Authority is costing the area business.
"The port authority of Ogdensburg has put up several obstacles in the path of Green Energy Resources, having delayed operations nearly a month already," Joseph C. Murray, president of Green Energy Resources, said in a statement Friday. "As a result, Ogdensburg has been losing out to Albany where Green Energy Resources has already commenced operations."
Last month, the OBPA board approved an agreement with Green Energy Resources, the New York City company supplying the wood chips, to handle and store the materials from June 3 until Dec. 31. The first shipment should go out by ship soon, Mr. Murray said.
This will be the first shipment of wood chips for the port in several years, OBPA Executive Director Wade A Davis said. Mr. Murray hopes to bring 30,000 to 60,000 tons through the port each month, which will be shipped to biomass power plants and wood pellet manufacturers in northern Europe. He expects the project to bring at least 10 jobs and about $20 million to growers and truckers in the area.
ADVERTISEMENT
Mr. Murray said the main problem is the authority does not have a truck tipper, a platform used for lifting and unloading cargo trailers. The equipment could increase wood chip deliveries to the port from 500 to 1,900 tons per day, Mr. Murray said.
Mr. Murray has asked the port to purchase the piece of equipment, which costs between $100,000 and $300,000. Mr. Davis said providing the machinery is not the port's responsibility.
"This is a standard transfer, handling and storage agreement," Mr. Davis said. "Our contract does not have any stipulation that the OBPA provide a truck dump. That is strictly under the auspices of Green Energy Resources. It's not part of the contract agreement, nor was it ever promised or implied."
Without the truck tipper, the company plans to unload with about 15 walking-floor trailers that handle significantly less cargo.
"We've been helpful in many aspects of this project and put him in touch with individuals that have this type of equipment in the region," Mr. Davis said. "The need for specialized equipment has always come up, but it's always been negotiated through the contractual process, not through a press release after an executed agreement. At this point we're questioning whether Green Energy Resources is dealing in good faith with the authority."
Mr. Murray said the Port of Ogdensburg has been losing business to the Port of Coeymans, near Albany, but he did not estimate how many tons of chips are going downstate because of the lack of a truck tipper here.
Since the beginning of the month, Green Energy Resources has stored about 2,000 tons of wood chips at the Port of Coeymans, according to Stephen F. Kelly, vice president of the port. The facility, which also does not have a truck tipper, is under an agreement to handle and store wood chips for two years.
Green Energy Resources remains interested in the Port of Ogdensburg because of its proximity to a large number of wood chip suppliers that grow beech, birch, ash, maple and cherry trees, which are in high demand on the European market, Mr. Murray said.
Although Mr. Davis said he was unaware of the claim that the missing equipment was costing the port business until the press release was issued, he said he did not feel the project would be in jeopardy.
"Obviously there must be an issue there that we're not aware of," he said. "We'll be in touch with them to see if we can address the issue.""
This is the most plausible bit of the whole article:
"At this point we're questioning whether Green Energy Resources is dealing in good faith with the authority."
"Great products, horriable managment."
Actually no products now, as their "great product" has been sold at a knock down price to a shell set up by Biophan's own CEO, as b9molecule's DNS search of the domain name for this new start up demonstrated.
The other name associated with this company is another historically associated with Weiner and co (ask palacian -he seems to know about this gentleman Frank Terrizzi).
Mr. Terrizzi was also involved in that other penny stock scam, Natural Nano.
As for the management, they knew and know what they're doing. The same old crowd has ended up in charge of the Myotech CSS technology, made millions along the way, enriched their cronies at Iroqouis and still left the door open to siphon off any cash on Biophan's books to Lanzafame's new outfit, MyoCardioCare:
"After an initial sale of financing by MCC, which shall take place before December 31, 2009, before any shares of MCC Stock, or any beneficial interest therein, may be sold, by MCC, such shares shall first be offered to BIOPHAN as set forth below."
and
"the Company shall have certain rights relating to participation in future financing of MCC"
In fairness they couldbn't have got this far without the active support of some people on this and other message boards.
I said in an earlier post that I believed the transfer of the comany's sole remaining asset to another company set up and controlled by Biophan's CEO John Lanzafame was "borderline illegal".
On speaking to those who know more about these matters than I, I am assured it is actually outright illegal.
And so it should be.
"Is that better than where we were or worse?"
Now, let's see.
On October 17, 2008, Biophan elected to dissolve Myotech, LLC and distribute its net assets according to the terms of the Myotech, LLC operating agreement.
In doing so, they completed the transfer of ownership of the Myotech CSS from private hands to Biophan, a process which had been going on for several years.
Now, me and some of my friends on this and other message boards can't quite agree on how much Biophan shareholders ponied up over the years for this key asset. I reckon about $17 million all told, while others make it only around $12 million. I haven't seen estimates that come out much lower than that.
In the spirit of compromise, I'll accept the $12 million figure.
That $12 million went to TI, the Anstadts, the other private owners of the Myotech technology and a number of other folk who by SEC definition could reasonably be considered insiders (which is why the filings used to warn in upper case about the conflicts "your" management suffered from). Lanzafame through his association with TI and other parties was one of those conflicted.
The Myotech CSS asset has now been sold for $250,000 to a company set up by one John Lanzafame, the current CEO of Biophan, and the man primarily responsible for burning through all of Biophan's cash in the past three years while not advancing the development of the Myotech CSS one iota, and destroying not just the company's balance sheet, but also the pps. And paying himself handsomely in the process, including a couple of six figure bonuses.
So BIPH shareholders have lost around $11 million on the deal, again taking the conservative figure.
There have already been some who suggest that it's the shareholders fault for not approving the MegaDilution that Lanzafame demanded after having siphoned off all the shareholders' funds to toxic financiers and the various other insiders, including himself, while doing nothing to advance the company's interests.
However, he has been able to raise enough money to "buy" the Myotech CSS device - if he could raise this finance as a private individual, then surely he could have done it on Biophan's behalf -IF he had wanted to.
Frankly, this shows a contempt for shareholders which is nothing short of breathtaking (although I would argue typical and also consistent with their past behavior) and at least borderline illegal.
At least you know that, from now on, anyone who pretends this is good news is almost certainly part of a criminal conspiracy to defraud private retail investors in Biophan.
And I trust that some of you at least will not let sleeping dogs lie.
Joe learnt his lessons well from Bernei Madoff and Allen Stamford: if you're going to lie, lie big.
What's that you say, Joe?
"the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995"?
No, they're not. They are total fabrications that represent a significant breach of several different Securities laws, and way beyond the protection of any safe harbor statement.
One day I hope that fact will come home to roost.
"The KDS Micronex employs Intense kinetic energy to Simultaneously pulverize and dewater"
to....dewater??
Is that tech speak for "to dry", I wonder? The jargon of the FASC high priesthood is obviously expanding.
"Its clear that there have been two sales there now."
With respect I think you're missing Charlie's point.
Actually the only thing that's clear is that FASC claim to have successfully installed two machines in Latvia.
And as you should all know by now, that's quite, quite different from saying there are have been two sales.
Sorry for the interruption. As you were.
Green Energy Resources intends to make several major announcements regarding the US domestic market shortly.
I just bet it does.
I wonder if there will be any truth in any of them?
Certainly every other GRGR PR I've seen has been a tissue of obvious lies.
Talking about obvious lies
(and putting to one side Mr. Murray's enormous humanitarian effort in sending fleets of icebreakers to rescue Scandinavia from all that unexpected ice)
I'm struggling to see why a business that's announced so many multi-million dollar contracts - several of which must already be underway, according to the PRs of the past few months - needs to borrow $2 million from private financiers, let alone $10 million.
I mean I know cash flow is important, but by my readings of Mr. Murray's past "filings", they should have enough to go on without this cash injection.
Indeed if the elementary DD any reputable lender would do showed GRGR's sales projections based on already announced contracts to be reasonable, then they should be able to borrow money at a small premium to the base rate.
My guess is that when these "further details" become available they will reveal a large tranche of convertibles or some other mechanism where Joe's new buddies can short the bejasus out of the stock using the convertibles as cover.
That will add a new element to the business model - after all, just printing shares and selling them when you want to raise some new capital was getting old, and indeed more difficult with all these folk asking questions.
You have to admire Mr. Murray's ingenuity, even if like me, you decry his criminality.
"Please provide evidence of your assertions."
I already did. Here it is again:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=fasc#getFilings
Let me know if you need help interpreting the four Form 5s which were filed yesterday to show CEO Mr. Nichols' transactions for each of the years 2005, 2006, 2007 and 2008.
On second thoughts, let me do it for you:
You will note that Mr Nichols started in 2005 with 7,812,400 shares, and at the end of 2008 held 4,981,700. This is what is meant by being a "net seller" - when total sales outnumber purchases. In this case by just under three million shares.
As for delinquency, the SEC requires that:
"Insiders must file a Form 5 to report any transactions that should have been reported earlier on a Form 4 or were eligible for deferred reporting. If a Form must be filed, it is due 45 days after the end of the company's fiscal year"
http://www.sec.gov/answers/form345.htm
In this case FASC took well over a thousand days to file one of the Form 5s. This is, to my admittedly untutored eye, more than 45 days and therefore delinquent.
Hope this helps -if not I'm sure an objective and well-qualified CPA could help you out.
"Getting the back paperwork in order for a reverse split???"
It must be said that four years' worth of back data from Mr. Nichols does seem to fall under the heading of delinquent reporting.
It also seems that over this period Mr. Nichols has been a net seller of this fine stock.
Fuuny that some of those sales take four years to report but that a yesterday's purchase by "Cal" took less than 24 hours.
If he sells those 500,000 shares today, I wonder if it will take another four years for that to be reported?
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=fasc#getFilings
"Sunspotter AKA voldermont, I read your posts smmply for amusement."
As you are a self-acknowledged shareholder in both Atlas Mining and Biophan (and I rather suspect HDVY and NNANE as well) I can see how you'd need cheering up:
http://finance.yahoo.com/echarts?s=BIPH.OB#chart3:symbol=biph.ob;range=2y;compare=almi.pk+^ixic;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Glad I can be of service in that respect.
"It is odd how when there is the least pause in momentum sunspotter aka voldermont seems to show up to bash."
I show up when I please, not just "when there's a pause in momentum". And I don't call factual commentary on the lamentable performance of BIPH's "management" when it comes to protecting the interests of their shareholders - as they are legally obliged to do- "bashing".
Besides what "momentum" are you talking about? The greater than 99% drop in pps over the past four or five years, or the very occasional and increasingly rare mini-pumps that get reversed just as soon as there's a filing or some other vehicle that gives us a snapshot into the real workings of Biophan, as opposed to the optimistic wishes and outright fantasies of some of its supporters?
In any event, if my posts offend you so much you can always avail yourself of the "Ignore this Poster" feature which can be accessed by clicking on my screen name.
I'd hate to think you or anyone else felt compelled to read anything I write when you can so easily opt out of that tedious necessity.
"it is what it is."
If you mean a vehicle to transfer money from the pockets of the poor souls who were gulled into buying the stock of this sorry company straight to the bank accounts of the TI ghouls, the Iriquois vampires and the BioMed and Myotech parasites, then I am forced to agree with you.
Still ,they did it very slickly, and while it wasn't entirely legal ,they kicked over their tracks pretty well, and lots of you chaps gave them covering fire while they launched their daring raids.
Viewed objectively, it was very professionally done. Almost a thing of beauty.
10 K out!
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6634019-892-409336&type=sect&dcn=0001144204-09-030095
Apart from the expected horrors - MegaDilution, $17 million dollar loss, balance sheet stripped of cash, going concern warning and the attempt to disguise the wholesale transfer of company assets to private individuals, there's also the question of Value for Money.
But who could begrudge these fine gentlemen the fair fruits derived from their arduous labors on behalf of the ordinary shareholder?
"Katan Associates, Inc. of which Stan Yakatan, the chairman of the Company is an owner, billed the Company $60,000 and $30,000 plus out of pocket expenses during the years ended February 28, 2009 and February 29, 2008 for consulting services, respectively.
Wood and Company CPA, PC of which Robert J. Wood, the former Chief Financial Officer of the Company is an owner, billed the Company $48,774 and $98,000 plus out of pocket expenses during the years ended February 28, 2009 and February 29, 2008 for consulting services, respectively."
If you shareholders ever get to feeling bitter about where your money went, at least you can console yourself with the fact it went to folk who not only will know what to do with it, but have a greater need (or do I mean greed?)for it than most people. I expect they feel your pain as they hoist their sacks of cash (that used to be yours) to their private banks.
Due to delinquency with its SEC filings, NNAN is now trading as NNANE.OB:
http://finance.yahoo.com/q?s=NNANE.OB
Unless this situation is rectified in short order, NNAN will be relegated to the Pink Sheets.
Odd that a CEO can give an interview saying how well they're doing (I wonder how much you shareholders paid for that?) but can't file on time.
Makes you wonder, really.
"one would think such solid opinions would lead
that person to filing with the sec rather than spouting on
a stock messageboard. but what fun would one have actually
taking the "upper hand" and finding out if their speculation
were fact or fiction. jmo."
The two (posting here and talking to SEC) are not mutually exclusive, and I have requested on several occasions that SEC investigate Biophan again. But they seem somewhat preoccupied with other matters of late, and besides they tend to view OB stocks as caveat emptor type stocks, where anyone who buys them should understand that there's a reasonable chance they're fraudulent.
As for insider information, a number of Michael Weiner's Reg FD busting communications to posters such as boots436 and brasileiro are in the public domain. And others who post regularly on this MB are aware of other similar posts.
"John also said that the people they have been in talks with are still in the picture and have not gone away."
I'm surprised by two things.
Firstly that Mr. Lanzafame treads so close to the edge of breaching FD regulations, by disclosing information concerning potential investors or sources of finance to an individual investor, but not to all shareholders. Given Michael Weiner,his predecessor and mentor, also had a lamentable track record of leaking so-called inside information (much of it fabricated) you'd think Mr. Lanzafame would be more careful.
The second thing that surprises me is that he doesn't issue a statement saying exactly why he wants the extra 550 million shares, then people could vote on the merits of his arguments, rather than relying on hearsay on a penny stock message board.
I can only think that the real reasons they want the shares may not be in the private retail shareholders' interest and therefore cannot be publically announced.
I wonder if the "management" of Biohan now regret giving away all of the Medtronic cash (and more) to the private owners of the Myotech CSS technology in exchange for 100% ownership?
Given that it strictly wasn't necessary to do that (they had a controlling interest anyway), they could have held back a few million for developing the Myotech CCS device to a point where a partner might want it. Especially because the technology actually turns out to be fairly valued at around $2 million - if they could ever find a buyer.
I expect any regret they might feel is somewhat mitigated by the fact that they are in fact in many cases the same people, or associated with the same people, that they gave all those millions of dollars to.
Jazzer, please be sure to let us know if Mr. Lanzafame shares any other inside information with you.
TIA.
Joe's only done gone invented the financial equivalent of perpetual motion!
In a sleight of hand that is literally unequalled by anything that's gone before it, Joe has invented a class of preferred share that doesn't affect the value of the common share.
It's a miracle to equal his single-handed liberation of Northern Scandinavia from snow and starvation, at which time it's rumored he was accompanied by a host of heavenly angels.
For those curious to see a master liar at work, here's the text of today's PR, which was quite fantastic, in the original sense:
"Green Energy Resources Commences Sale of New 'Preferred Shares'
On Tuesday April 28, 2009, 12:09 pm EDT
Green Energy Resources, Inc.
NEW YORK, April 28 /PRNewswire-FirstCall/ -- Green Energy Resources (Pink Sheets: GRGR - News) commenced sale of its new 'Preferred Shares' effective yesterday. The shares are valued at $1. The company is limiting sales to 10 million shares in 2009. Shares may be purchased through Green Energy Resources corporate Secretary's office. The new share issue does not negatively impact current GRGR shareholders or diminish their holdings. The Preferred shares represent an entirely new class of shares as the company looks to move forward with a much larger revenue base. The company is projecting approximately $50 million in sales for 2009. Interested persons may contact the Corporate Secretary at jhhaok@aol.com"
Sounds like a revenue generating scheme to me.
The question being, why would GRGR need to issue any more shares of any sort,preferred or common, given the numerous multimillion dollar orders already working their way throught the system - not to mention the humanitarian work Joe is doing in Sweden?
The truth is that Joe is a liar and a fraud.
His "accounts" are false, as a quick application of Benford's Law reveals, as does a straightforward comparison with his previous year's "accounts".
The PR'ed sales to all these anonymous companies are also palbably obviously entirely fictional.
Mr. Chips over at Yahoo! has confirmed that the reports of warehouses and port facilities are also lies with his sleuthing in Linden and elsewhere.
And the final clincher is the fact that notorious stock prostitute and fraudster "terryhallinan" has often pimped GRGR stock on various message boards, not least the IV MB for ITRP.
One day the SEC will do something. In the meantime I shouldn't hold your breath, though.
"I guess there's quite a bit more for sale"
And my guess is that as long as prize fiction writer and fraudster extraordinaire Joe Murray has his hand on the printing press button, they'll be plenty more where those came from.
In a follow-up to last year's announcement of a collaboration with mystery private French cosmetics company, Fiabila, Natural Nano announced today that it had received a significant commercial order from that very party.
I just hope they're more assiduous in following up payment for this "significant" order than they were on checking the delivery of the halloysite clay they paid Atlas Mining $100,000. As you may recall, it took over two years for the geniuses at NNAN to notice this order had not ever been delivered. In fact, it wasn't until after Atlas' new management had pointed out the two minor details that
1) there wasn't any clay to deliver and
2) they falsified their accounts by booking revenue for these mythical sales
that NNAN admitted that this was in fact the case, and that belatedly they were starting legal action to reclaim the money they paid for the "sales" (wonder whatever happened to that particular law suit?).
ROCHESTER, N.Y., April 13 /PRNewswire-FirstCall/ -- NaturalNano, Inc. (OTC Bulletin Board: NNAN - News; FWB: N3N), a developer of extended release technologies and supplier of polymer additives based on naturally occurring nano materials, today announced an initial significant commercial order from Fiabila, S.A., a global cosmetics supplier. This order is a direct result of collaboration and technical success from the previously announced June 2008 Joint Development Agreement. This commercial order also includes a three year exclusive supply agreement. The new product utilizes halloysite natural tubes (HNT(TM)) in nail polish and other nail-care products. France-based Fiabila is one of the world's leading private label manufacturers of nail enamels for the industry's top brands.
"Establishing a commercial product with Fiabila in the personal products industry is a tremendous boost for our company allowing us to leverage the strengths of our naturally occurring, environmentally friendly HNT technology," said James Wemett, CEO of NaturalNano. "This New agreement, which includes granting Fiabila a world-wide exclusive license to our processes for nail polish and nail-care products, serves as further validation of both our technology and of our business model. It represents a long-term, sustained revenue opportunity using our patented technology for controlled release from our HNT giving their products durability and overall performance."
Wemett continued: "One of our 2009 goals is to move our joint development partners into licensing deals and commercial orders. Our company has over 25 patents issued and pending. With Fiabila as our newest strategic commercial partner, we expect to see significant and widespread adoption, acting on our commitment to develop the next generation of HNT-enhanced consumer products."
Under the terms of the agreement, NaturalNano will supply both filled and unfilled HNTs for incorporation in Fiabila's nail products. NaturalNano's patented technology enables the filling of the environmentally-friendly tubes with a variety of additives that can be released slowly over time, enhancing the performance and extending effectiveness of a wide variety of consumer-oriented products.
Pierre Miasnik, President of Fiabila commented, "NaturalNano's technology will enable us to continue our commitment of using natural ingredients in our products. With NaturalNano's know how and our product experience, we look forward to a long standing relationship."
Sounds good, although there's not too much underneath once you scratch the surface. I certainly wouldn't hold my breath.
Wonder where the 10K is? Should be published today or tomorrow, I believe, if NNAN is to avoid a Pink Sheet listing.
I don't doubt Rohm and Haas are somewhat distracted by their on/off/on merger with behemoth Dow Chemical:
"Dow, Rohm merger to go through
Tue Mar 10, 2009 1:47am EDT
GEORGETOWN, Del. and NEW YORK (Reuters) - Dow Chemical Co agreed on Monday to go through with its purchase of Rohm and Haas Co reaching a settlement after the two sides were scheduled to go to a trial over Dow's refusal to close the deal.
The companies said Rohm & Haas shareholders will receive just less than $79 a share -- $78 per share, plus a ticking fee agreed upon in the original deal.
But Rohm's two largest shareholders -- the Haas Family Trusts and Paulson & Co -- will take up to $3 billion owed them from the deal in the form of preferred equity securities in Dow.
All the other shareholders will be paid completely in cash.
Dow shares fell about 11 percent to close at $6.33, while Rohm shares closed up 16 percent at $74, both on the New York Stock Exchange.
"Wednesday night until now has been nonstop work by a lot of people and I feel very happy to land where we did," Rohm CEO Raj Gupta said outside the Georgetown, Delaware courtroom.
Rohm sued Dow in January after Dow refused to proceed with the takeover, claiming the deal under its original terms would jeopardize its future.
The two companies had been scheduled to face off in Delaware Chancery Court Monday morning and the courtroom filled beyond capacity with a multitude of lawyers, investors and top Rohm and Haas executives.
The companies eventually asked for a delay so they could keep talking in search of the settlement.
PREFERRED INVESTMENT
Last July, Dow agreed to buy Rohm and Haas for $78 a share to broaden its product offerings in higher-margin markets such as paints, coatings and electronic materials. Because Rohm was highly sought after, Dow agreed to pay what was then a premium of more then 70 percent for the company.
But Dow balked at closing after its $17.4 billion plastics joint venture with Kuwait fell apart. Dow had intended to use proceeds from the venture to help fund the Rohm deal.
Under the terms of the deal, the Haas Family Trusts and Paulson & Co will take $2.5 billion of the money owed them in the form of preferred equity. Dow will also have the option to pay out an additional $500 million as preferred equity to the Haas trusts.
Dow has been working to avoid a credit downgrade that could trigger loan defaults and limit the company's access to commercial paper.
The company already has cut jobs, slashed its dividend 64 percent and said it is looking at the possible sale of various assets."
"The efforts of NaturalNano in this regard have not yet been rewarded and that Company is now owned bt its toxic lenders."
In fairness, we should note that it turns out NNAN's toxic lenders (Platinum) were pretty much the same people as its founders and indeed overlap with the TI people originally behind NNAN (and Biophan, for that matter). That's presumably why they put one of the original NNAN founders in as the "new" CEO.
"Its lead product Pleximer has not sold despite having been on the market for over a year."
Haven't seen the new 10K for Natural Nano yet, and I have a feeling we might never see one, but I suspect you're right.
As regards Atlas, however, I have sympathy with one of the posters over at Yahoo! who points out that the old management as personified by William Jacobson (Jake to his friends) were complete crooks and that the new folk running it are different folk, who've exposed the fraud and mismanagement of Jake and his chums, and have also gained some heavy duty backing in terms of finance.
If nothing else, Atlas has some real estate and possible mineral assets, and it may turn out to be a good play, even if the halloysite it has is only ever used in fine porcelain.
To summarise, I suspect that Natural Nano, who along with FASC conspired with Atlas' original "management" to create a false market in each of their shares, and indeed Biophan, an equally suspect company asociated with the same suspects, have no long-term future and will disappear once the parties behind them have wrung as much as they can out of the game, Atlas may just be a different story.
I wouldn't bet on it, but I wouldn't bet against it either.