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Company has funding in place.. they have not sold a single share at the market over the past year since Maxim got involved... not one that I am aware of, apart from publicly announced sale of stock, such as that which took place to raise 500,000 at the end of March.
The downward stock price manipulation has been accomplish by Maxim:
Naked short selling
Front running
and/or is being done to unjustly enrich Maxim and convertible noteholders.
There is no money raised in this. The company has been making interest and principal payments with stock in lieu of cash, and appears to be ignorant of scheme by Maxim... you might try calling company to alert, but Jenkins might be in on it.
Maxim put a minimum average share price of 45 cents in contract. Ever since Maxim pushed price below this level, they have went crazy driving it lower. Maxim appears to be key financial advisor to rcpi and Ted Jenkins. There is a serious conflict of interest going on here. Maxim appears to be in a serious breach of ethics, of their contract and there appears to be all sorts of illegalities taking place led by Maxim.
Just my take.
How many complaints are needed?
I wrote their website. Years ago I had a contact in Washington, DC I might look up again.
When you write, the SEC sends what is almost like a computer generated reply that says the SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved.
As a result, we will be unable to confirm whether an investigation exists or provide you with any updates on the status of your complaint or of any pending SEC investigation. Information on our policy is enclosed. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters.
And then they refer you to someone you can call about things, but it appears more limited to asking questions than helping or being involved in investigation. This one guy I heard is looking into Maxim, you could try to him. His name is David Cohen, he is an attorney in the Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
Hope SEC monitored RCPI June 1st and 2nd, the other assaults on price per share by Maxim acting alone or as an agent of convertible note holders were huge before this, but what clear share price killing on these two sample days, Maxim was relentless on those two days driving price down from 2.6 cents to 1.3 cents.. and selling well over 20 million shares in total and not buying a single share, both days combined.
Maxim was the low ask that pushed price down when it broke support around 45 cents... and they pushed price down with a vengeance... it appears the first month of run down in stock price they sold a few million shares, most of which were owned by convertible noteholders.. but maybe a million were sold short thru early April.. then they got worse.. and sold more shares.. but sold more short where by May they probably sold a few million more short, net, net, net.. but in May is when they really hit the stock.. selling millions for noteholders or short thru end of month.. killing price at every chance.. culminating in selling at 10 and as many as 15 million shares from May 23rd thru May 31st and then 20 million more the first two days of June.
Maxim has sold in total probably well over 40, and maybe as many as 50 million shares.. just since March 24th, 2016, not including all the shares they sold from when they began to sell shares about a year ago when price of stock was a couple bucks. Maxim has manipulated stock price down by every trick they could think of and today just them showing up causes panic. they must have engaged in some form of front running, naked shorting and certainly a breach of best efforts to obtain best price have been involved. I would not be surprised if they are rcpi's trusted advisor.. and that in they certainly breached the company's trust if they were paid and trusted in this capacity. It appears Maxim had a part in writing the convertible note holder contract and encouraged the company to enter into it.. telling them they could not raise needed capital by selling at the market, etc.. and it appears Maxim anticipated and knowingly caused key breaches to strengthen their scheme at expense of company and its shareholders. It is clear they knew they could get company to be in breach if average price dropped below 45 cents for 40 days or something like that... and had written in note holder agreement that rcpi was in violation if no longer listed on nasdaq in October 15th contract AFTER rcpi had received notice of delisting that included orginal maxim deal in June as not having received shareholder approval as reason to delist. Then Maxim convinced Jenkins and rcpi to pay penalties for breach.. that was known to be ready to take place... after delisted on November 3rd to the tune of over $600,000 to resume release of funds from restricted accounts... etc.. and probably as advisor they have told rcpi to issue more stock to make up for Maxim getting price to drop... someone at rcpi must be in on it... my thought is Jenkins.
SEC needs to look at June 1st and 2nd trading and now again today.. and while not pushing nearly as hard as 1st two days of June, after killing buying interest first few days of June Maxim trader did not appear to have to make as much of an effort to break support at 1.1 cents.. and was successful, appears more buying interest and support at a penny and just above.
Just a thought, but maybe some stock was paid to convertible note holders and because of investigation... Maxim is selling, adding to his short position to cover up that he was very short going into stock being paid. While he sold more than 20 million shares on June 1 and 2, he probably has only sold two million or so yesterday and today... I think he is just trying to lower share price, for whatever reason.. maybe look back. I hope SEC and FINRA and DOJ see thru this and bust this rogue trader, that rcpi sues and that this stock manipulation put to and end, with damages for breach paid to company and shareholders.
Still in, still long, and unfortunately still wrong. I really did not think Maxim had either the stock or the need to pound this stock down any further. Maybe they are in "negotiations" and if Mullan is not getting good advice, and Jenkins is connected with Maxim.. maybe they are using stock price as leverage.
This has been a losing battle... but it might still be a winnable war... I am one helluva a sore loser... and stock is a fraction of my average cost.. so I am not happy...
Even still, even with all that has gone on and appears to continue..the stock price pendulum has swung way too far to the low side of where stock price should be if there has been a 4:1 or even 5:1 dilution since March. A dime or higher is still merited based on what stock was trading for three months ago, so the shorts have way over shot to the downside. There is plenty to be made on upside when selling by Maxim slows or stops, so I am still long.
Be nice to hear they are suing Maxim and convertible noteholdes... that they got out of bad funding deal and have found alternative funding... on traditional and non toxic terms, that they are getting rid of poison pill and that they have far less shares outstanding than rumored... so yes it would be good to hear some news like this... they also could say they found a partner... jv... or that Novartis is taking a look at buying them... be nice to hear something... how about they joined DOJ and SEC to go after Maxim?
Side note... anybody else notice ASCM vanished after participating in June 2rd early trading with Maxim to drive price down.. once stock broke support it appeared Maxim backed off, but ASCM was around for the full drop in the first half hour on volume of about 11 million... not accurate to say Maxim did not have a part in that.
180 day grace period if breaks below a penny.
All OTCQB companies must meet the minimum bid price of $.01 per share at the close of business of at least one of the previous thirty (30) consecutive calendar days; in the event that the price falls below $.01, the company will begin a grace period of 180 calendar days to maintain a closing bid price of $.01 for ten consecutive trading days;
Maxim keeps lowering ask, now at 0.0112
I think Maxim trying to get .11 to crack one more time.. surprised he did not hit the bid first, like he usually does... maybe he is hoping someone else will do his dirty work? I think he will not stay there long.
Alternative contact idea.
It might not be a bad idea to contact the biggest player in this. The big convertible note holder is Hudson Bay Capital.
Mr. Roy Astrachan serves as a Senior Managing Director and Portfolio Manager at Hudson Bay Capital Management LP with an expertise in convertible bonds. He can be contacted at:
Phone: 212-571-1244
Fax: 212-571-1279
I doubt they would want their good name tarnished by how Maxim is acting as an agent on their behalf, and their investment is also be being put at risk by Maxim's shenanigans.
Also, as I have posted, write the board of rcpi...try to contact Mullan... he is tough to contact.. to tough for a company of this size.. heck I am in contact with CEO's of company's much larger. There is no excuse for Mullan's not being available and accountable to shareholders.
Could anyone here please write Mullan, board and if you must Jenkins? Ask why they are letting Maxim get away with RCPI stock price murder. Let them know it is evident that this is being accomplished in a breach by Maxim and Maxim acting as agent of convertible note holders of the convertible note agreement provisions regarding best efforts and prohibiting shorting. Tell him to stop focusing breaches by company. All parties knew about imminent delisting, why did the pay Maxim and convertible note holders to make whole for this? And lower share price and breach of minimum share price was caused by Maxim and/or convertible note holders. The deal, the agreement is a bad one, there was clear breach by other parties. What are they going to do to get out of deal? What are they going to do to recover damages to company and shareholders for breaches of convertible note holder agreement?
It appears the Maxim group was able to influence company thru Jenkins. Even the IR firm is related to Maxim. Will company protect shareholders? Ask for shareholder meeting. Why is Maxim getting away with pulverizing stock price on Mullan's Jenkins and the current board of directors watch? What if anything is company doing planning to do to stop Maxim group and/or convertible note holders from destroying stock price and profiting from it?
Maxim lowers ask after hitting small bids
This is getting old. He could not possibly be trying to sell for best price... why hit bids if you want to sell for higher price... he wants price to be lower.. period.. stock manipulation to the downside at its worst...
It happens in sync... so often this time the 0.015 and 0.013 were hit seconds before it was reported he lowered ask... which is delayed slightly... the Maxim group needs to be stopped from this illegal and unethical share price manipulation.
We are more than likely at or near low
Don't forget the price has been drive down for sometime by Maxim. He started selling this puppy a year ago... and it was a few bucks a share then. Recently price has dropped, plunged from 50 cents to just over a penny in three months.
There are about 4 times, at most 5 times as many shares outstanding now as there were in the middle of March.
We should be at a dime, all things being equal. It is just the selling pressure led by Maxim, blatant stock manipulation that is why we are so low today. So is a half cent possible? I don't know, but what and how would this profit Maxim to take stock from OTCQB with minimum price requirement at .01 to the pinks? Thinking there are a lot of fundemental reasons for a rally, namely if nothing has changed stock should be worth a dime, not a penny from where things stood three months ago and before dilution. and then the technicals all are saying... or close to screaming buy... only Maxim is in the way.. that and fact he has pretty much killed every rally... enthusiasm needs chance to build. Hopefully SEC and FINRA will get involved and stop this. Company should be involved, but there may be a Maxim mole working at RCPI, why else would they let this continue?
You are right. Up until yesterday the number for outstanding shares was probably no more than 25 million shares and maybe less. However, the Company has been negotiating with Maxim and convertible note holders to pay them in stock, based on recent low prices, and ignored breach of contract by Maxim acting alone and as an agent for convertible note holders, who clearly breached a best efforts to sell stock at best price possible and breached the prohibition against shorting the stock provisions of the convertible note holder agreement entered into without shareholder consent by the company with Maxim, Hudson Bay Capital and Aldi.
My best guess is the number of shares outstanding is well known to the company, to Maxim and convertible note holders, but is not being released to shareholders. My best guess is it is now about 47 million.
If so, the company has breached its fiduciary responsibility to its shareholders by rewarding Maxim and the convertible note holders for their breach of the convertible note holder agreement that has resulted in the plunge in the stock price from about fifty cents three months ago to just over a penny today, and the company led by Mullan and Jenkins had and may intend to continue to unjustly reward the perpetrators of this breach of contract and crime against the company and its shareholders, by paying them with stock in RCPI at a 20 percent discount to the lowest price for the stock to cover any naked short selling. This is wrong, a shareholder meeting should be demanded and it should be reported to and investigated by the SEC and FINRA
Time to request shareholder meeting and vote?
I was reading there is a procedure to force meeting of shareholders and to then be able to bring various items to a vote. The IP is valuable and science is worth much, but company, the board and management team is clearly not looking out for the best interest of shareholders.
I believe much could be accomplished by having shareholder meeting and vote. First we would vote to fire Ted Jenkins and end any association with Maxim and current IR firm with ties to Maxim. Then there is issue of getting out of contract with Maxim and/or convertible note holders, and recovering damages for breach of contract, especially related to Maxim's selling short the stock in RCPI or otherwise manipulating the price downward., which is illegal and unethical and clearly constitutes a breach of the convertible note holder agreement.
Any news from the company, SEC or FINRA? How many shares are now outstanding? Anyone contact transfer agent for stock?
This stock manipulation by Maxim has been going on too long and the harm to the company and shareholders is huge.
Anyone get answers from company if they plan to sue or file criminal charges against Maxim and/or convertible noteholders?
Maxim - why here?
What can we learn and is this a stock we can earn some money in?
Still long... and so far, so wrong(shrug), but there is hope.
What if Maxim does not have many shares to sell?... maybe having sold them previously... naked shorting, etc? What if SEC or FINRA discover and come after him on behalf of shareholders?.. Big what if... what if Mullan and Jenkins wake up to breach of contract by Maxim and convertible bond holders and go after them civilly and criminally? Maybe get enough damages to move trials along past stage 2? What if investment bank arrives at higher value for IP than many think? What if company finds alternative funding and gets out of Maxim brokered deal? Hoping for the best.
I am staying the course. The price appears much lower than it should be, key may be what Maxim does... It was interesting seeing CDEL lean on it the past few days, but CDEL also picked up shares... might even have bought more than they sold with some large blocks hitting their bid price a few times during the day today.
Shake, shake, shake...
Pretty soon we should see a nice rally from here imo.
Anybody know how CDEL is playing this?... seemed to keep price in check at .016 and then been kind of pushing price down up until now.
Two factors I am thinking played into yesterday's and today's trading... what if Maxim gets a ton of shares for sale and did not short much thru June 3rd? and then there is over all stock market taking a hit yesterday and today... so maybe this is just a final shakeout, we shall see.
Painted rising bottom line from low of a penny just a few minutes ago at 1.4 cents and it bounced... should be up from here.
Thanks Interloper!
I thought it might turn a few weeks ago, but Maxim stepped in and killed that... now maybe Maxim lets it rise, if so do you think RCPI coud still turn into a successful pincher play?
What do you think of RCPI? I think it could make a good pincher play based upon the following chart.
Tarheel blue, thanks for the info you have posted, I enjoyed and believe I have profited from reading your article on pincher play education.
I am using Coppock Curve... seemed appropriate as grieving period based, since my trades in stock have lost money so far.
Company has potentially highly valuable IP, but is in a bad funding deal, which rewarded those who provided funding if stock price drops, but now appears with look back provision the same parties might profit if stock price rises.
A real pincher play like move would be grrreat!
I am in big here for me as well... while this is not a done deal,... I think it is has at least a 70% chance of happening... and the expected payoff is great, but we need Maxim to stay out.
Agree, first things first...lets make some money.. 20-25% profit would be a great start, and I think we should see at least that much of a move soon. My thought is we will see a lot more... likely at least 250% returns... but that is just my take.
This is my first pincher play so I really don't know how high this could go. But it should go up soon and probably exceedingly beyond what we could ask or think.
I think upside percentage gain potential is much greater than for HHS, perhaps someone with more experience can chime in.. I have heard it should go until rsi hits at least 60.
HHS started from slightly higher ADX, but much less negative PPO and look what it just did. The potential is great, but no one knows when RCPI will go... it sure appears it could go soon.
For comparison
Thanks for your efforts... don't sweat it not working...
I moved cursor above middle of chart, right clicked and then clicked on top line, view image, then this caused address bar to change from default and I copied from address bar and pasted image here, highlighted it and clicked image.. hopefully it will work ... i am curious about the twix.. i have not used before.
I use same site.. you need to right click on the image and then click on view image and when it goes into address bar, you copy it from there to here and viola.. after highlighting it, click on image and it will work.
Thanks for sharing!! CDEL wanted it to close at 1.6 cents.. interesting he would hit his own ask and then not show that many shares for sale anymore and CANT reduced what he was showing for sale from 600000 to 100000 a few minutes before the close.
Thanks for info... could you link to a chart?
Seems they want to keep price of rcpi down til Monday.. I was hoping for some sparks at the end of today.. oh well, maybe they decided for six days that could be used for look back, instead of five so things didn't look to fixed?
HHS sure is showing the potential of a pincher play... up another 30 cents since you posted at 1.90 as of right now. Wow!
How do you think rcpi pincher sizes up compared to the great run you have had with hhs, at this point in time?
HHS price movement is great reminder of what can happen here... and I rejoice for you that it happened to you with hhs.
What will you use for deciding when to sell? I see the 14 day RSI has not hit 65 yet.. do you exit at rsi 65, 70 or ? what about williams %R
Is there enough potential with rcpi to sell yet or would you want to let it ride on hhs for another day or two?
Congrats on great play with hhs.
Sorry, but I don't see it as ever having been a pinch play. Great rally... wonderful move, but it never pinched.
and.. it looks like it is time to sell.
Here is chart, never pinched...
A pinch is supposed to look something like this before the ppo and adx head in opposite directions away from each other. It is confirmed by full stochastic shooting up and higher price on high volume, or at least that is my take.
Market makers seem to be positioning bid and ask upward with little trading last ten minutes, thoughts?
As of end of next week, after next payment of stock by rcpi to Maxim and convertible noteholders, there will be around 48 million shares outstanding, so market cap is closer to $720,000 @ .015 cents per share... market cap should be closer to 7.2 million... just my take on what ip and co is worth less bad financing and other debt. I believe Maxim and convertible bondholders already sold the 20 plus million shares they will be paid on or about June 15th ... so should not put any downward pressure on stock.
I have seen CDEL trade on same side of trade as Maxim, but suspect they too want this to move higher, maybe they have some retail that wants out.
anyway.. the bid is starting to rise now.. we are just about hitting the middle of the day... i think stock price should begin to rise nicely soon.
I really like the buy and potential new buy signals that we can see or confirm in the below chart:
PPO is curving and beginning to move up with 12 day due to move thru 26 day on rise today or by Monday.
ADX is curving down from high around 46, now around 44
Full and slow stohastic is moving up.
5 day rsi showed buy when moved up thru 30
7 day rsi confirms this and did not break much if at all below 30.
5 day ema showed buy... I believe it is confirmed if we close above .0154 for 7 day ema today.
The final buy signal and breakout for me is if stock price can move thru the kaufman moving average today or monday, which is just below 1.8 cents.. next resistance would be about 2.5 cents and then the move should be on.
Patience is key here.
It will rise and rise fast when we least expect it... maybe even by the end of today, but it will rise, just wait... it is not even the middle of the day yet.
Good call on the close... now, we don't know when stock will rise, but it is no longer a question of if. I think by midday tomorrow.. Monday at the latest. time will tell.
I don't think Maxim, CDEL or NITE really want to sell shares anymore.. they just want share price to stay in check, not rise too much by end of today.. tomorrow.. I think they want it higher and they will want it higher for a while going forward.
This should end any downward bias and should set us up for a nice rally higher, maybe continuing from yesterday and beginning in earnest as soon as this Friday.
Its all about the 5 day provision. Five days from Friday to today.. locks in nice discounted price for Maxim and convertible noteholders and probably for NITE and CDEL as they appear to be working with Maxim, looking back to this time period from around July 1st and August 1st, under lowest five days in last 40 trading days, they can count on getting stock at nice discount to current price, not what it might be in a few weeks if we rally from here. See posts 26044 and 26045 if you want more detail.
This means MAXM, the convertible note holders and maybe CDEL and NITE will be rewarded if price goes higher now. Before this, when they were running price down from 50 cents to a low of a penny, they were selling at higher prices than they were going to be able to cover at when rcpi paid them with stock at the low point when company declared they would pay cnh with stock instead of cash. Now it should mean the reverse... it is just a thought.. time will tell, but together with this...
We are really getting close to the old saying that a pinch will make you grow an inch when it comes to the stock price of rcpi. I think we will know by early next week if we have a pincher play here, and maybe as early as this Friday, in which case TGIF!
Should be much stronger by mid day Friday... and stronger still by Monday... but time will tell.
Thank you! If this stock goes up like I think, it will be my first pincher play!