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Right you are, Kiwi! WHat a mess..and RLF is also languishing...
Thx! So I am not the only that is shocked by this drop without reason
Thank you for putting it so elegantly simple!
Will you let us know what the response may be?
600.000 shares sold on the close at the market...
Is this really due to a lecture by Thero?
Is any transcript available?
Certainly hope that the selling pressure will ease, Mel! After all the share transfer should have been completed in February so the interest of GME may finally be aligned with ours for the shareprice to appreciate...
It also might be of interest for the acquisition of AdVita which is based on a share exchange that a higher price is beneficial.
If only we knew what the strange maneuvering and strategizing will bring..
I am far too deep into this to take it lightly
Here is my post from 2nd of February again since y'all too lazy to look it up yerselves, eeh?
ratna1 Saturday, 02/06/21 01:08:25 PM
Re: A deleted message 0
Post # 35181 of 36589
Collusion of BOD with GEM to suppress shareprice ?
Please excuse me for posting twice but I was still editing when I was cut off. SO this is the final version. Feel free to cancel the previous one:
As much as Vanilla's manic ravings drive me to fits in bits I have to say now I am infuriated with the intentional procrastination of positive news and have to agree with him that RLF is holding back material information from shareholders in servitude of the financial benefit of their majority stake holder GEM!
Obviously there is a concerted effort to artificially suppress the share price so GEM can convert the shares under the financing facility at a depressed valuation and thus deprive the company that we are invested from a transfer of shares at a fair value!
We as majority shareholders are being fleeced twice over :
once by the orchestrated effort to artificially suppress the share price and distort markets price discovery for it's true valuation
and
twice by the board of directors and the C-level suits drawing down the financing facility now when they have surplus cash at hand and - as stated by themselves in one of their last PRs - no need for additional financing in the near future.
To draw down the financing in exchange for shares now when the shares are purposefully derived of their fair value and when their is no need for additional cash is bad for the company that could get the same US$ amount of financing in just a few weeks for half as many shares in exchange and thus it serves only the benefit of GEM while exploiting the public shareholders.
This is not only infuriating in light of extremely positive developments as we can see from NEURO-X's PR last night but also in as much as it might well serve as grounds for a class action case being brought against the BOD and C-level on account that positive and material news were willfully hidden and that thee was collusion between directors and officers of RLF with the board of the largest stakeholder GEM to not disclose to the public relevant information that would allow for markets a price discovery of the fair value of the stock BEFORE this transaction is consummated.
We all know that this fair valuation of course would result without doubt in a significantly higher share price than what we saw last summer !
This reeks of collusion in particular in light of the recent very generous, if not downright obscenely hefty raises in salaries and boni that were granted by the largest shareholder GEM to the BOD and Chief officers which might be easily construed as a form of roundabout bribe to get compliance for GEM'S interest over those of the company - that is us BTW - itself!
But see for yourself and kindly comment on it.
As you have shared before where you implied that you do have some direct channels of insight into company developments I really would like to know what do you make of it
this also makes a lot more sense to explain why the topline results are being held back than all these laboured efforts to imagine how counsel and FDA are putting the breaks on...
The old roman saying still rules - CUI BONO?
https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAL1S00025
As my accounting associate reads this PR it shows that RLF requested this on Jan 22. The pricing is provisional with the real price calculated 15 trading days later.
Relief is loaded with no need of cash now, so management is acting in the interest of its major shareholder and against the interest of the majority of shareholders - otherwise they would wait until after the top line results are announced presently.
Since management is doing the bidding of GEM, I would guess that they will need to sit on top line results until about Feb 15 and draw out any PR until the low share price for exchange of shares agains 50 million in cash is locked in...
So far it is only GEM benefitting to the detriment of public shareholders and we will be left in the dark until those 15 trading days counting from the 22nd of January, 2021 to February 15th...
See for yourself
FYI:
Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.[color=red][color=red][color=red][/color][/color][/color][color=red][/color]
If you read my last posts you will find the link to the filing on the SwissExchange (SIX) that spells it out. It is an obligatory disclosure like a 10k or such with the SEC. IT is stated in no uncertain terms that their goal is to acquire shares at price preferably not exceeding 0.35SFr.
Look at the charts for confirmation and also note the sudden sell offs at the End Of Day and / or Opening auctions.....
I do not have the time to post often so my message history is short so it is easy for you to find that link.
Personally I hate ALL CAPS yet Vanilla is correct that RLF board is suppressing share price as good as they can to the benefit of their main sponsor GEM who has publicly filed that he intends to get some 150 millions of shares around 0,35 US$..
BLOOMBERG etc. just carry the PR as it is an SEC document ...
Unfortunately it is a far cry from a real write up on the astounding possibilities to overcome COVID that Aviptadil is opening up
What is really disgusting is this grudging, 5 line PR that RLF has released as their obligatory notice oon the Swiss Exchange.
It reads something like :
"Relief reports that NeuroRx published that RLF100 has shown a 10 day accelerated healing at the28day mark..."
If I tried to express disdain and disgust while still fulfilling my legal duties I couldn't have formulated more derogatorily..
Of course they did not take the time out to translate the full text of PR and just note at the very bottom of their notice that NeuroRx is free to publish whatever they want but fully responsible too...
No wonder there is little appetite in Zurich to buy RLF
Relief berichtet, dass NeuroRx bekannt gegeben hat, dass RLF-100(TM) (Aviptadil) bei Patienten mit kritischer Covid-19, die mit High Flow Sauerstofftherapie behandelt wurden, am 28-Tage-Zwischenendpunkt erfolgreich eine um zehn Tage beschleunigte Genesung nach Atemversagen gezeigt hat
Genf, Schweiz, 24. Februar 2021 - RELIEF THERAPEUTICS Holding AG (SIX: RLF, OTCQB: RLFTF) ("Relief" oder das "Unternehmen"), ein biopharmazeutisches Unternehmen mit seinem Leitwirkstoffkandidaten RLF-100(TM) (Aviptadil) in der fortgeschrittenen klinischen Entwicklung, gibt bekannt, dass NeuroRx, Inc. Daten aus der Phase-2b/3-Studie mit RLF-100(TM) zur Behandlung von Atemversagen bei kritisch erkrankten COVID-19-Patienten veröffentlicht hat. NeuroRx ist allein verantwortlich für die klinische Entwicklung und die Einreichung von Zulassungsanträgen im Zusammenhang mit RLF-100(TM) in den USA.
Die entsprechende, von NeuroRx veröffentlichte Pressemitteilung finden Sie hier.
###
ÜBER RELIEF
Relief fokussiert sich primär auf klinische Projekte auf Basis von natürlich vorkommenden Molekülen (Peptide oder Proteine), die bereits eine längere klinische Entwicklung und Anwendung am Patienten durchlaufen haben oder für deren Entwicklung es starke wissenschaftliche Gründe gibt. Das Unternehmen konzentriert sich derzeit auf die Entwicklung von neuen Möglichkeiten zur Behandlung von Atemwegserkrankungen. Der Lead-Wirkstoffkandidat von Relief, RLF-100(TM) (Aviptadil) wird in der späten Phase der Entwicklung in zwei Placebo-kontrollierten US-Studien zur Behandlung von COVID-19-bedingten akutem Lungenversagen getestet. Relief besitzt Patente in den USA und mehreren anderen Ländern, die mögliche Formulierungen von RLF-100(TM) abdecken.
RELIEF THERAPEUTICS Holding AG ist an der Schweizer Börse SIX unter dem Symbol RLF gelistet und wird in den USA an der OTCQB unter dem Symbol RLFTF gehandelt.
www.relieftherapeutics.com
Folgen Sie uns auf LinkedIn.
Here is the NEW ENGLAND JOURNAL OF MEDICINE Article on the use of AVIPTADIL (specified as produced by BACHEM) with cancer patients developing pneumonia in the course of chemotherapy:
Vasoactive Intestinal Peptide in Checkpoint Inhibitor–Induced Pneumonitis
DOI: 10.1056/NEJMc2000343
Link: https://www.nejm.org/doi/10.1056/NEJMc2000343
TO THE EDITOR:
Therapy with immune checkpoint inhibitors has become a new therapeutic option for several types of cancer, but immune-related adverse events can limit their use.1 Outside of clinical studies, pneumonitis develops in as many as 10 to 20% of patients who are treated with immune checkpoint inhibitors, a complication leading to discontinuation of the treatment and to immunosuppressive therapy.1,2
Figure 1.
https://www.nejm.org/na101/home/literatum/publisher/mms/journals/content/nejm/2020/nejm_2020.382.issue-26/nejmc2000343/20200624/images/img_small/nejmc2000343_f1.jpeg
Radiologic Imaging before and during Treatment with Vasoactive Intestinal Peptide.
A 68-year-old man who was treated with pembrolizumab for advanced melanoma (a case report is provided in the Supplementary Appendix, available with the full text of this letter at NEJM.org) had recurrent pneumonitis even after treatment discontinuation and receipt of glucocorticoid treatment in accordance with current guidelines.1 His respiratory and general symptoms were quantified with the King’s Sarcoidosis Questionnaire, and he was found to have decreased values for the general health and lung domains. Computed tomography showed widespread consolidations (Figure 1A), a finding compatible with recurrent immune checkpoint inhibitor pneumonitis. Analysis of bronchoalveolar lavage (BAL) fluid ruled out infection but revealed a lymphocytosis with decreased regulatory T cells, as has been described in immune checkpoint inhibitor pneumonitis.3 (Details regarding health assessments, lung-function measures, imaging, and cytometric analyses referred to in this report, from before treatment and during follow-up, are provided in Figs. S1 through S5 in the Supplementary Appendix.)
Treatment with an inhaled formulation of synthetic vasoactive intestinal peptide (Aviptadil, Bachem) was initiated, at a dose of 70 µg three times daily, as an alternative treatment to avoid glucocorticoid-related side effects and systemic immunosuppression. Vasoactive intestinal peptide has been shown to dampen type 1 helper T cell (Th1) responses by inhibiting effector T cells and boosting regulatory T cells through its G-protein–coupled receptors (VPAC1 and VPAC2). Its inhaled application in sarcoidosis increases alveolar regulatory T cells and reduces proinflammatory cytokines, resulting in clinical improvement.4
Treatment with inhaled vasoactive intestinal peptide resulted in clinical and radiologic improvement in the lungs (Figure 1B). Analysis of BAL fluid showed reduced alveolar lymphocytosis with reduced CD28 expression and increased regulatory T cells. Spontaneous and lipopolysaccharide-induced release of tumor necrosis factor, reflecting the inflammatory alveolar milieu, were dampened during treatment. Vasoactive intestinal peptide was not associated with toxic effects and did not influence lymphocyte subtypes in peripheral blood (Table S1). Eight weeks after cessation of the treatment, the patient had systemic nonpulmonary progression of melanoma disease.
Our findings support inhaled vasoactive intestinal peptide as a local therapy to reduce the alveolar inflammation found in patients with immune checkpoint inhibitor pneumonitis. Whether this therapy has an influence on tumor progression cannot be determined on the basis of this case. However, further studies are indicated to investigate whether vasoactive intestinal peptide may be a therapeutic option for immune checkpoint inhibitor pneumonitis.
Björn C. Frye, M.D.
Frank Meiss, M.D.
Dagmar von Bubnoff, M.D.
Gernot Zissel, Ph.D.
Joachim Müller-Quernheim, M.D.
University Medical Center Freiburg, Freiburg, Germany
Just to make sure that I expressed myself correctly: I am NOT Prof. Müller-Quernheim and did not write that Article for the NEW ENGLAND JOURNAL OF MEDICINE!
I only used it for reference as it is break through research and I cannot believe that RELIEF is not using it with the FDA to document the established use and safety profile of AVIPTADIL in clinical settings worldwide.
After all they are aware of it since they do buy out the company that provided the inhalation-devices....
I am equally perplexed that this research is hardly known in other departments - like intensive care units - here at the university teaching hospital....
After all an article in the NEW ENGLAND JOURNAL OF MEDICINE is the gold standard of Medicine - if this peer reviewed and published it is almost like adding a chapter to the Bible
ChangesIV, let me take the opportunity to express my sincere and heartfelt gratitude for your untiring research. It is not going wasted!
I copy and paste it to all my colleagues and practitioners at the university teaching hospital here.As a medical anthropologist I am not on the frontline bút do advise and counsel front line intensive care personell, general practitioners, researchers and maybe most useful the designers of the hygenic concepts and intensiv care environments .
It is amazing that AVIPTADIL has been used in it's inhalation form here at the university hospital for pneumonia resulting from intensive chemotherapy with great success for years as published in the NEJM but the ICU 2 blocks down from the oncology campus is not aware of its use at all.
Sometimes I feel more like an evangelist than anything else with an endless effort to overcome the conditioned reflex of doubting anything that appears to be positive ...
Also the company ADVITA which RLF is going to buy up with shares only is domiciled here and has been supplying these clinical trials with inhalation devices
FYI
https://www.uniklinik-freiburg.de/presse/pressemitteilungen/detailansicht/2058-hormon-inhalation-stoppt-schwere-nebenwirkung-von-immun-krebstherapie.html
Original-Titel der Publikation:
Vasoactive Intestinal Peptide in Checkpoint Inhibitor–Induced Pneumonitis
DOI: 10.1056/NEJMc2000343
Link zur Studie:https://www.nejm.org/doi/10.1056/NEJMc2000343
Kontakt:
Prof. Dr. Joachim Müller-Quernheim
Ärztlicher Direktor
Klinik für Pneumologie
Universitätsklinikum Freiburg
Telefon: 0761 270-37060
joachim.mueller-quernheim@uniklinik-freiburg.de
So since you are one of the elect few ,Oh Intelligent One, where do they go to?
Bodhi, Care to share details on the discord group?
It is because Swiss Markets are closed for the day.
No late hours trading there.
They roll up the sidewalks at 6PM...
But just wait what GEM will do the share price if they have the Swiss Markets all to themselves for 6 hours before the US opens upagain...
Simple: US-Investors are approximating fair value in price discovery since the swiss markets closed. The Swiss market is controlled by GEM who is doing it's best to hold the share price down by crushing every rise in price by dumping a couple of million shares without limit.
Oh and did I mention that GEW is also holding back the release of TLD until after their transaction for acquiring 135 million shares at a price tag of 0.36 SFr. (which is about 0.42US$ at the most) is completed on Febr. 15th?
Javitt confused? Yes and No - he doesn't understand why he should hold back good news for the benefit of one stake holder iN RELIEF Therapeutics to get cheap shares..
That's why RLF wants to hold back good news
Another update from Y board:
OK, I just called Brian at the Investor news mobile #, and he informed me that there is going to be another news release and not actually a call. A short conversation is all I had with him.
He said Javitt had some confusion as to a call versus news release.....
So, don't wait around for this, not happening as we all already know. Patience, probably something later today.
so RLF muzzled NEURO-Rx to hold back the GOOD NEWS!
hate to say it but I TOLD YOU SO
As long as GEM is making money from dragging this out, they will ... likely until AFTER February 15th...
because it pays for them:
https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAL1S00025
Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.[color=red][/color]
Great Find ! THX! But where are the details for the CC ?
Not on their website yet:
https://www.neurorxpharma.com/category/press-releases/
there is no announcement on their own website left alone a link to dial in :
https://www.neurorxpharma.com/
Are you sure this is happening?
How do you log on?
you obviously have no knowledge of security laws:
a company's officers are legally obligated to immediately disclose any information which might be impactful for price discovery of the company shares on public markets!
The officers and BOD - our employees really - are putting our financial benefit at risk if they choose to withhold material information !
That is what it is if a company goes public:
it belongs to the pubic and backroom dealings where you withhold materially important developments to give oneself or one party an advantage to front run the development or allow GEM to exchange their credit facility for shares artificially depressed prices are simply illegal - at least if they blow up - and that makes this criminal conduct!
That these idiots expose us to the risk of all the vulture law firms heaping on to sue RLF is enraging me even more than that they manipulated the share price for the better part of 6 months!
your post sums up the problem precisely:
1.)
while RLF officers and BOD stays mumm to enable their main investor to do the credit facility draw down in exchange for shares at half the price of fair value we all have to resort to scrounging the internet for any morsel of information from strange an d unknown sources OR rely on NEURO Rx / BRPA for PRs as our own company will keep us uninformed on material changes in circumstances which form the base of the valuation of the company we are invested in
2.)
the "Valuation Report" while summing up the positive achievements of RLF in a very thorough and trustworthy way then goes out of it's way to calculate a share price appreciation that is so low that "low balling" does not even apply. It is more like moles moving underground...
Their juggling of numbers for potential revenue and growth prospects is so subterran and pretty much puts a cap on hopes for a substantial share price appreciation beyond 1US$ which is down right ridiculous!
IF this was a buyside analyst's "report" it would end with a recommendation of HOLD and not BUY, left alone STRONG BUY.
This is another pitiful attempt to put a lid on the share price.
But for whose benefit has been the question until the SIX exchange disclosed this filing:
https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAL1S00025
Now it makes sense why the company's officers are seemingly doing their utmost best to prevent the share price from rising!
for reference :
"We are excited to be the first clinical site for this crucial study, which aims to prevent patients from progressing to respiratory failure and being admitted into the ICU," said Dr. Richard Lee, Interim Chief of UCI Health's Division of Pulmonary Diseases and Critical Care Medicine and the Principal Investigator for the clinical trial.
"We have seen the devastation of COVID-19 firsthand and recognize the importance of investigating all potential therapeutics, especially one like ZYESAMI™. Its mechanism holds promise as a treatment for patients in the ICU with Critical COVID-19 and possibly also in the earlier stage of the disease, to reduce disease progression and respiratory failure."
https://www.prnewswire.com/news-releases/neurorx-initiates-phase-23-study-of-inhaled-zyesami-for-severe-covid-19-with-uci-health-301221615.html
I wish I was wrong...
Have been lingering too long at these depreciated values with tons of shares....
IF you read the statement of the acting head of UCI yesterday they are all aware of the positive results of the intravenous trial BEFORE they even started the inhaled one!
I am outraged at such a stupidly obvious manipulation that could easily form the base of needless court cases
Collusion of BOD with GEM to suppress shareprice ?
Please excuse me for posting twice but I was still editing when I was cut off. SO this is the final version. Feel free to cancel the previous one:
As much as Vanilla's manic ravings drive me to fits in bits I have to say now I am infuriated with the intentional procrastination of positive news and have to agree with him that RLF is holding back material information from shareholders in servitude of the financial benefit of their majority stake holder GEM!
Obviously there is a concerted effort to artificially suppress the share price so GEM can convert the shares under the financing facility at a depressed valuation and thus deprive the company that we are invested from a transfer of shares at a fair value!
We as majority shareholders are being fleeced twice over :
once by the orchestrated effort to artificially suppress the share price and distort markets price discovery for it's true valuation
and
twice by the board of directors and the C-level suits drawing down the financing facility now when they have surplus cash at hand and - as stated by themselves in one of their last PRs - no need for additional financing in the near future.
To draw down the financing in exchange for shares now when the shares are purposefully derived of their fair value and when their is no need for additional cash is bad for the company that could get the same US$ amount of financing in just a few weeks for half as many shares in exchange and thus it serves only the benefit of GEM while exploiting the public shareholders.
This is not only infuriating in light of extremely positive developments as we can see from NEURO-X's PR last night but also in as much as it might well serve as grounds for a class action case being brought against the BOD and C-level on account that positive and material news were willfully hidden and that thee was collusion between directors and officers of RLF with the board of the largest stakeholder GEM to not disclose to the public relevant information that would allow for markets a price discovery of the fair value of the stock BEFORE this transaction is consummated.
We all know that this fair valuation of course would result without doubt in a significantly higher share price than what we saw last summer !
This reeks of collusion in particular in light of the recent very generous, if not downright obscenely hefty raises in salaries and boni that were granted by the largest shareholder GEM to the BOD and Chief officers which might be easily construed as a form of roundabout bribe to get compliance for GEM'S interest over those of the company - that is us BTW - itself!
But see for yourself and kindly comment on it.
As you have shared before where you implied that you do have some direct channels of insight into company developments I really would like to know what do you make of it
this also makes a lot more sense to explain why the topline results are being held back than all these laboured efforts to imagine how counsel and FDA are putting the breaks on...
The old roman saying still rules - CUI BONO?
https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/shareholder-details/TAL1S00025
As my accounting associate reads this PR it shows that RLF requested this on Jan 22. The pricing is provisional with the real price calculated 15 trading days later.
Relief is loaded with no need of cash now, so management is acting in the interest of its major shareholder and against the interest of the majority of shareholders - otherwise they would wait until after the top line results are announced presently.
Since management is doing the bidding of GEM, I would guess that they will need to sit on top line results until about Feb 15 and draw out any PR until the low share price for exchange of shares agains 50 million in cash is locked in...
So far it is only GEM benefitting to the detriment of public shareholders and we will be left in the dark until those 15 trading days counting from the 22nd of January, 2021 to February 15th...
See for yourself
FYI:
Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.Pursuant to a Share Subscription Facility agreement (SSF), GEM committed to provide up to CHF 50 million to RELIEF THERAPEUTICS Holding SA in exchange for registered shares of RELIEF THERAPEUTICS Holding SA in the period from January 20, 2021, to January 20, 2024, at the discretion of RELIEF THERAPEUTICS Holding SA, subject to certain exceptions and limitations. No drawdowns have been made until January 22, 2021, resulting in a remaining balance of the full amount under the SSF of CHF 50 million. GEM's purchase position has been calculated using the closing price of the registered shares of RELIEF THERAPEUTICS Holding SA on SIX Swiss Exchange on January 22, 2021 (CHF 0.41) and applying the 10% discount agreed in the SSF (resulting in a share price of CHF 0.369), by dividing the remaining balance under the SSF of CHF 50 million by such share price of CHF 0.369. However, according to the terms of the SSF, future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on SIX Swiss Exchange during the relevant reference period, which corresponds to 15 trading days following RELIEF THERAPEUTICS Holding SA's relevant subscription request, subject to certain exceptions and limitations. Therefore, note that the actual subscription price at which GEM may be requested to subscribe for registered shares of RELIEF THERAPEUTICS Holding SA under the SSF may be lower or higher than the share price applied above, and accordingly, the number of voting rights GEM may acquire as a result thereof may be higher or lower than as set forth in this disclosure.[color=red][color=red][color=red][/color][/color][/color][color=red][/color]
@Belfort, Thx for your encouraging reply! However I am not sure if you read my question completely.
I was a reader on this board early on as 2 doctors I respect were posting here then but have rarely had the time to follow lately so no need to worry that I am influenced by the noise. I was hoping that you might have some insight as you probably are the most rational voice here with some penetrating views on the company.
As I said I really do not follow public boards at all but rely on my own experts and the opinion I shared with you came from an forensic analyst with deep experience in small caps who I trust since 12 years..
So the question remains :
why would the BOD commission a valuation report that seriously caps enthusiastic investor's hopes for a "multi bagger" performance?
CUI BONO ?
Belfort,as always I value your measured voice of reason, however this valuation report strikes me as strategically placed so short before unblinding binary data.
So what could that strategy be?
Since I lacked the time I asked a colleague with a background in forensic analysis and accounting what to make of it. His executive summary was in one sentence:
"Why is this company hiring pros to produce a valuation report that is basically sucking the oxygen out of speculative hopes by putting a cap on market enthusiasm for explosive growth of Aviptadil sales over various markets?"
And as an afterthought he added:
[i]"you have to wonder who strategically is benefitted if an outbreak of the share price is quelled before it starts?
It appears the only beneficiary would be GEM that is committed to exchange 50 million US$ against shares at market price..."
What is your assessment of this report if I may inquire?
Yes - sold the warrants and then bought the stock outright.Since TTCF shares are marginable I got a better conversion rate around 0.7 instead of 0.5
Thx,Dennis! Just sold my warrants and bought shares outright. And even so the if you compute prices for shares and warrants on the market teh ratio is right around .51! However I came out exactly at 0.66 conversion rate because of 70% margin ability!
Thx Norton! Very helpful!
God Day Norton, would you know what this redemption means for warrant holders?
TDA did not advise or notify me in any way what to do.
Will the warrants automatically exchanged for 0.5117 or what steps do I have to take?
This statement kind of threw me off:
Accordingly, by virtue of the cashless exercise of the Public Warrants, exercising warrant holders will receive 0.5117 of a share of the Company's common stock for each Public Warrant surrendered for exercise.
Thx for the encouragement and details;Marzan!
As a very long(lasting)AMRN investor I have a sense this might make up some of the damage done by Judge Du and the FDA before that and Adam Fartstink etc.
Also have a ton of Respect for the singularly effective AVIPTADIL by RLFTF and the science behind it.Also it seems similar in its mechanism of action to VASCEPA and totally natural being a hormone produced in the human body. Could be as much of a game changer for all lung conditions just as NWBO's DCVAX might have solved the riddle of how to stop cancer cells killing their host body!
Between the 3 of these the 3 deadliest disease could be treated with paradigm shifting therapeutics that can change live for all humanity!
Thx Reg & Eagle for revealing the "code" to me so I can make sense of it. I understand the need to abbreviate as time is precious but still it is impossible to second guess
Thx! I am amazed at how we are holding up given the carnage in teh peer group
Thx Barnstormer! If I understand your posted filing S-1 from 11/23/15 then he warrants will need to be exercised before 5 years are over or will expire. So we are in 2021 now. Does it mean they already are beyond the call date?
Thx, but calling would be difficult from overseas.
Do you have a link for the 1.1 conversion as I noticed that @Luckypenny posted it is a 1:2 ratio?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160936870
Hi Marzan, as I really appreciate your assumption that we might be seeing signs of an already agreed a upon Buy Out by Big Pharma your writing would have more meaning to me if you could you enlighten me what TLD and DI means?
sometimes warrants are issued not 1:1 but 3:1 e.g.
Did you research the warrants?
Are you aware if there are also rights to PECK like in some other SPACs?
Also do you think there is any arbitrage benefit in buying the warrants as compared to the shares outright?