Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
For reference regarding the Series D shares:
From the 8-K dated April 15, 2021
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On April 15, 2021, Biosolar, Inc. (the “Company”) filed a certificate of designation of preferences, rights and limitations (the “Certificate of Designation”) of Series D Preferred Stock (the “Series D Preferred Stock”), with the Secretary of State of Nevada, designating 1,000 shares of preferred stock, par value $0.0001 of the Company, as Series D Preferred Stock.
The Series D Preferred Stock does not pay a dividend, does not have any liquidation preference over other securities issued by the Company and are not convertible into shares of the Company’s common stock.
For so long as any shares of the Series D Preferred Stock remain issued and outstanding, the holders thereof, voting separately as a class, shall have voting power equal to 51% of the total voting power of the Company’s shareholders. Such vote shall be determined by the holder(s) of a majority of the then issued and outstanding shares of Series D Preferred Stock."
No! It is not that simple. You are simplifying WAY too much. The Series D shares takes care of the majority vote idea. Those shares along with the shares Dr. Lee already own carry 51% of any voting power. It was stated in the filing.
I know the math on the Series C shares. They said they needed to increase the Authorized Shares pool to allow for the potential that the institution may seek to convert and they would not have enough shares even authorized to cover the conversion.
I can appreciate that you made money off of the company and you are ready to retire, but that doesn't mean that you are reading these things thoroughly. You're coming at this as if it were the things they did in the past. They're not doing that. It is very clear in the filings.
It sounds as if you’re due to commit to some more DD.
You should probably read the 10-Q for yourself if you feel that I am misstating something. I am not a lawyer, so I can’t break these things down completely. But I am pretty sure I read it right as I read that all of the toxic loans were now paid down to $0.
As well, I believe I stated that that it was an agreed upon conversion rate. So the higher the share price goes, you tell me what happens if the investment institution wants to convert some of their Series C shares. I already know, the number of common shares jumps dramatically as they are converted. It was not one of my favorite elements within the agreement, but it does get them out from under the loan. It’s all in the 10-Q.
As for the Series D shares, they’re not even convertible to common shares, they only bring voting power. So what does that tell you? It tells me that they’ve put protections in place to make sure no one comes in to soak up a ton of shares and take controlling or influential interest in the company. Not a poison pill, just protection. ;)
For more clarification on that. This is correct, that they need it to cover to convertible preferred shares. But this is not the type of convertibles that they were being made fun of in the few years past.
They are now clear from the toxic convertible debt, the kind that was costing them 10% on top of their loan value. Their 10-Q back in March, and the most recent 10-K stated this about the preferred shares and the "toxic" convertible loans.
But part of that deal was they gave up 34K shares of preferred 'C' shares. These are able to convert to common shares based on a formula that they agreed upon with the lender (institution). The higher the stock price goes, the more shares conversion works out to be. BUT...if they fail to deliver the converted shares (I think they have 10 days to do so once requested) they will be penalized a fee.
So to make sure they never subject themselves to a situation that they can't meet their obligation, they said they would need to increase the Authorized Shares (AS) pool. As we see, it takes about a month for them to file the paperwork, then have it approved and added to the AS pool. So the increase in the AS pool is precautionary.
According to that site, I count 30 sites now enrolled. Can someone validate that?
I know that the study notes state they are aiming for up to 1000 participants, so the update doesn't state that number. But I would imagine that if their data continues to consistently come back as good data, we should be able to get away with 500-600 testers.
Nice!
I picked up a few more yesterday and today.
Hopefully this will see its bottom soon. But either way, this is one of those that I am more than happy letting it bake in the proverbial oven for as long as it needs to.
Glad to see that you found StockTwits too.
I think that is my biggest gripe in this.
There are plenty of examples and/or speculation on this where one established industry sees something better in the pipeline, but it is not theirs, so they do whatever they can to delay that new & better thing.
One could also theorize suppressing the company from being able to progress, could ultimately cause frustration and loss to the point where they end up selling for pennies to that large conglomerate, and that group then makes the millions or billions from it instead.
WELCOME TO THE NEW
NEWHYDROGEN SPACE!!!
I would be inclined to agree. I would call it pomp and circumstance, where they seem to be putting Revive and a few others through the extra paces.
This was my beef even 5/6 months ago. If you have a medication that is already approved for use, the only thing you are really needing to check for (in this situation) should be its effectiveness against the virus in a variety of patient types.
Where they fast tracked a few well-connected entities, and those vaccines or drugs are gaining a foothold in the market. Yet, this one and someone like Vaxart continue to sit on the sideline caught in the slow...ahem...cough-cough...thorough process.
It was until it wasn’t. I do hope you ha e a hold of a door handle though, so that you can at least catch a ride if it starts speeding up. Don’t give up yet.
It was until it wasn’t. I do hope you ha e a hold of a door handle though, so that you can at least catch a ride if it starts speeding up. Don’t give up yet.
This is good info.
But I can't help but to take notice. A WHOLE YEAR, before completion?!?
Where is the governments intervention in this?!? I would like to think that Operation WARP speed should still be a thing. Given that we don't seem to have the optimal solution for the virus, and there continue to be variations surfacing.
But, I think the big players in the game want their head start, so they will get it. Moderna was a fresh company going public in 2019, fast-tracked and now a superstar in the game. Wonder how that happens...
I think you may be onto something OG11.
This seems like one of the logistical dominoes that they needed to put in place. It doesn’t come across to the public as a ‘sexy’ move, but a very necessary one. That on top of the previous moves to raise capital, file for uplisting, extending partnerships, etc...
Another very quiet happening over the last few weeks, indirectly (possibly not) related to BioSolar was the settlement between the two battery companies SK and LG. There is a news story that alludes to SK having a deal with Ford. But I would have to dig deeper to see if SK was associated with any of the other partners such as TopBattery, Ferroglobe, or Soelect.
Hopefully we see the ‘sexy’ news come through soon.
I can appreciate the points that you mention, and they are not lost on me.
However, what you state regarding taking risks on stocks can happen with every company. While this is a penny stock, we already know that we are taking a big chance for something good to come about. Even well established companies can have instances or issues that are devastating to their investors. Thinking of MCI/ATT-Worldcom in the early 2000’s.
To your point regarding lil-old Dr. Lee. Why not the little guy once in awhile?!? I didn’t know Elon Musks’ name before 2007, Didn’t know Jeff Bezos until well after Amazon was on its way. Eric Yuan?!? No clue, until it was way too late.
To add, the great thing about what Dr. Lee is doing, he’s not trying to take over the EV battery/alternative energy space, he’s just doing things that will enhance it. Not making a battery factory, just making an additive. Not creating an electrolyzer, just trying to find a reasonably priced alternative mineral or item to make it work.
I can get onboard with that risk. Knowing that the world is pushing towards this space, we have found a guy that has developed a model to be involved without trying to do too much.
Problem is, you know his name. So it’s not too late for you. ;)
Still in progress. Patent pending approval, with exclusive rights to the patent issued to North Carolina A&T State. Why?!? Have you heard something different?!? Probably not, eh?
I think we will be very pleased when the next update on batteries is issued. Thanks for checking in. :)
Address the facts please...
What I listed were facts. Do you have something that says those items are not truth?!
10-K for fiscal year ended December 31, 2020 (Released February 16,2021)
Current Mission
"Our plan of operation within the next six months is to utilize our cash balances to expand the existing electrolyzer technology program focused on significantly reducing or replacing rare earth materials in electrolyzers with inexpensive earth abundant materials to help usher in a Green Hydrogen economy. We will continue developing our silicon anode material processing technology for high capacity and low-cost Lithium-ion batteries."
Technology Development Partners
- On September 28, 2017, the Company entered into an Exclusive License Agreement (the “License Agreement”) with North Carolina A&T State University
- On May 26, 2017, the Company executed a joint development agreement with Top Battery Co., Ltd. (“Top Battery”), a leading manufacturer of advanced lithium-ion battery solutions, based in the Republic of Korea, to assess, develop, manufacture, and/or market high power, high energy lithium-ion batteries integrating BioSolar technology and Top Battery technology.
- On June 14, 2018, the Company executed a joint development agreement with Silicio Ferrosolar SLU, a subsidiary of Ferroglobe, PLC (NASDAQ:GSM), for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium-ion batteries by integrating BioSolar technology and Ferroglobe silicon materials.
- On March 6, 2020, the Company executed a joint development agreement with Soelect, Inc, for collaborative efforts to assess, develop, and/or market a processing technology to produce silicon oxide anode materials for electric vehicle lithium-ion batteries.
- On December 14, 2020, the Company executed a sponsored research agreement with the University of California, Los Angeles, for collaborative efforts to discover and develop efficient and stable earth-abundant material-based catalysts for hydrogen production through water electrolysis.
8-K dated March 1, 2021
"extend the term of the Amended Agreement to March 31, 2023; (ii) amended the cost to the sponsor for the University’s performance to $1,410,580 and (iii) supplemented the exhibits for ‘Scope of Work’ and ‘Payment Schedule’ respectively."
Patents
~per page 4~
"On May 19, 2011, we filed a U.S. patent to protect the intellectual property rights for “Photovoltaic Module Backsheet, Materials for Use in Module Backsheet and Process for Making the Same,” application number 13/093,549. The inventor listed on the patent application is Stanley Levy, our former Chief Technology Officer. The Company is listed as assignee. This patent was issued on July 14, 2015.
On March 26, 2018, North Carolina Agricultural and Technical State University filed a U.S. patent application U.S. Serial No. 62/473,772 titled “Prelithiated Silicon Particles for Lithium_Ion Batteries”, and we signed an Exclusive License Agreement for the use of the technology effective September 25, 2017. The patent was issued on December 29, 2020.
On May 19, 2020, we filed a provisional U.S. patent application to protect the intellectual property rights for “Silicon Alloy Anode for High Power Batteries,” application number 63027154. The inventor listed on the patent application is David Lee, our Chief Executive Officer. The Company is listed as assignee."
~per page 9~
"We currently hold a patent in the US, but still have a patent pending in the US. There is no guarantee the pending patent will be granted."
~per page 5~
"There are a number of companies manufacturing lithium-ion batteries including, Panasonic, Samsung, LG Chem, and Tesla. We plan to seek licensing arrangements for our lithium-ion battery technology with a select group of companies such as the ones listed above, and do not expect to be their direct competition."
"Pursuant to the terms of the License Agreement, the Company is obligated to pay all costs of preparing, filing, prosecution, issuance and maintenance related to the patents underlying the intellectual property licensed by the Company. In addition, the Company is obligated to make certain annual royalty payments and sub-licensing fees. On September 28, 2020, the Company again paid to the University annual non-refundable licensee fee of $15,000."
Maybe I made all this up?!?
Can't go out on this one quietly, I gotta let the people decide!!! ;)
Non-sense?!? Where-see-non-sense?!? Feel free to point it out or highlight it (make sure to justify or back-up the claims with facts, not just calling it non-sense just to be argumentative):
"They have admirably managed to eliminate alot of their toxic debt (8-K) in the form of "promissory notes" and they have managed to position themselves with 10 Million in capital in the last 3 months.
A COO has been hired (PR released 2/8/21), one that has an impressive track record and important ties & in-roads. Multiple institutional investors have been brought onboard (PR released 1/27/21 & 4/5/21), and certainly there will be several more within the near future. Multiple manufacturing and production partners have been established (8-K, 10-Q, and prospectus), as well as exposure to several major players in the EV/batteries arena (8-K, 10-Q, and prospectus).
If one wanted to gripe that "dilution" was at the doorstep, that is a real word in this case, because it was actually stated in the 8-K. But right now this company is pushing the right buttons based on what they're being given to work with.
The only thing they lack at this moment is the "official deal", or the approval to up-list, or the patent approval, or the proof of an alternate metal appropriately replacing one of the big two metals in the Hydrolyzer (PR released 3/23/21).
As is, I think this stock should be sitting at the previous high (at least) if it were not for the current predicament that several of the OTC EV stocks are suffering from right now.
So, if you are a long or bull, don't mind any of the contrary narrative. This one is sitting on the precipice of blowing up big! ;)"
Thank you for that information.
Always so kind with such insight.
Contrary to what might be the easy contrarian opinion. What BioSolar is in the midst of is completely legit and above board.
They have admirably managed to eliminate alot of their toxic debt in the form of "promissory notes" and they have managed to position themselves with 10 Million in capital in the last 3 months.
A COO has been hired, one that has an impressive track record and important ties & in-roads. Multiple institutional investors have been brought onboard, and certainly there will be several more within the near future. Multiple manufacturing and production partners have been established, as well as exposure to several major players in the EV/batteries arena.
If one wanted to gripe that "dilution" was at the doorstep, that is a real word in this case, because it was actually stated in the 8-K. But right now this company is pushing the right buttons based on what they're being given to work with.
The only thing they lack at this moment is the "official deal", or the approval to up-list, or the patent approval, or the proof of an alternate metal appropriately replacing one of the big two metals in the Hydrolyzer.
As is, I think this stock should be sitting at the previous high (at least) if it were not for the current predicament that several of the OTC EV stocks are suffering from right now.
So, if you are a long or bull, don't mind any of the contrary narrative. This one is sitting on the precipice of blowing up big! ;)
Okay, I get that. Thank you for posting. But the question was
Do they have a product?
Almost (if not) every small company has debt. Some have more debt than others. Some have debt that is debilitating to the point of paralyzing operations.
The good thing that I could point out is that they were at least filing their 8-K reports, before they've run into these hard times. Would that be safe to say?
Do they have a product?
It seems that there are PRs from months back that speak of partnerships and expectations of usage, etc...
Would you say that those are real, or are they a ruse too?
I ask this because being a small company that is broke during this point in time is not uncommon. There are even medium sized business that are in debt and/or constantly borrowing from banks to remain operational.
OG11, stay positive!
I think this will do well, despite what has taken place over the last few weeks.
If you have a paid account PM me, as I do not.
As long as we continue to see variants to this, then there is still massive opportunity.
Also, as has been the major appeal in Vaxart’s corner is that they are still the only pill in the making from the vaccine realm. This may not have the opportunity to get to the levels where Moderna and the others who were fast-tracked through the system. But I think it can still make a healthy splash. If they can smoke Phase II and get up into phase 3 before Summer they may still get pushed through for an early 2022 rollout.
That is an excellent point. Because if it shows effectiveness on the variety of strains, I would imagine it speaks toward it’s ability to travel.
But the other thing that comes to mind, for me, is that this is to treat symptoms of COVID, so it makes me wonder if the variety of strains is introducing moving targets. I mean, isn’t inflammation in the lungs inflammation? Unless these new strains are introducing new complications.
Here’s to hoping it steps up to the challenge on both counts. I’m not in as heavy as some, but I am in well enough that it would make life MUCH MORE comfortable for me should this manage to make it to the $25-35 range.
You bring up an interesting bit of data.
What I wonder is what could be the potential barriers to the FDA granting EUA? It's not like they need to determine whether it is "safe" to take. So it must only hinge on effectiveness to the specific issue.
If they have determined positive results from the initial 210 patients tested, it would seem reasonable to give the green light to put it to use. Maybe get another 400 tested to confirm, but what else would be needed?
This has been out for long enough that the dangerous aspects that Phase 3 would also weed out, should be moot.
I won't disagree with your assessment regarding greed. But I can't completely believe that was all that was at stake.
In these instances, who misinterpreted the positive data and spun it to negative? At the same time, it would have been more beneficial to Vaxart to appropriately explain the science as AttWill did in their video.
Had they taken the time to do that, I don't think that negative media attention happens. So, yes, I think Vaxart kinda did this to themselves for not being as thorough as they could have benn. But I can't put that entirely in the camp of greed.
I figured the folks on this board would appreciate a little time for speculation. This was something one of the people on the Vaxart board posted:
https://lnkd.in/gTwuBB5
My apologies if this was already divulged or known. Most of you probably are already aware of who William Jackson is. Turns out they were pretty forthcoming with some of their information.
If you take the time to watch the video, there is a point at roughly 11:30 timeframe where they go over the 2 COVID "vaccine pills" (I know, this is a therapeutic). Most interesting of this is they couldn't mention one because of an NDA. Does it take much to throw that rock and hit your target?!?
That is a GREAT video and discussion. They were very forthcoming with quite a bit of their information.
What tripped me up was the 2nd company that was not mentioned because of NDA is kinda baffling. It is not very difficult to research and "speculate" on who that might be.
In fact, I am going to gaffe this DD of yours as a "potential reference". Because I know that group will be intrigued to hear this as well.
Nice find!
Part of the concern I have for new investors is how will they be influenced by the "get rich" concept.
There are instances where a stock just absolutely goes crazy and individuals become rich as a result. But this doesn't really happen that often.
As I have told many of my friends and family members, don't stress over your investments. It tends to cause impatience. After two months when individuals don't see the stock making massive strides, "it must be a dud! I have to get rid of it!"
Sometimes you have to let things bake a bit and see how it turns out. Cursed Julia Childs for always having one already ready when she put something in the oven. It made us forget about the time it really takes for the good things to come about. Just food for thought. ;)
Yes, this is great news!
News of filing for up-listing, news of an approved patent, news of institutional investors, now news of adding personnel.
Just waiting for that news of a deal and we use our transfer to get off the train and board the plane. ;)
No, no! Let's not sucker anybody. If the technology is viable and good, it will rise up to the folks that need to see it.
You can't make improvements until improvements are made. Wind was a challenge until it was done. Then, the story became it is too expensive.
All of it is too expensive until they figure how to do it better.
This is the article that I was previously talking about:
https://www.environmentalleader.com/2020/11/team-of-researchers-improves-fuel-cell-technologies-to-exceed-doe-targets/
What you will notice is that this team of researchers includes UCLA (where the NewHydrogen Doc is from), and a team from Ford.
That means that a car company is already aware, they are already giving their input. They are helping to fashion what is needed to make this all work.
You're right, Hydrogen CAN be done, because it is already being done. Green Hydrogen CAN be done, because it has already been done just at too high a cost. Now it is time to figure out how to do it differently, which is where our hope should be in this.
Oh! I am cheering for BIG success on the battery side as well, btw. I have been for 5 years now.
That is the intrigue with what they are planning. Their research will concentrate on finding natural and more readily abundant resources.
There was a news article that talked about the obstacles and hurdles faced with producing Green Hydrogen. The article stated that they have already been working with a team that has made significant advances in this field. To what levels, it didn’t specify. But if I get my hands on the article I will post the link here.
Most of these things are a race with the competition to see who can get their product to do what they think it will do at a cost less than the next entity. I think they have just as good a chance as anyone. I’ve got my fingers crossed. ;)
I guess that is why the scientists are involved. If they believe they can find a way with new technology/ideas, I will be anxious to see what they can come up with.
The professor at UCLA seems to have a pretty good background, so I feel comfortable with letting this have some time to stew.
But IF it pops, and IF they find that technology, anyone who is sitting on the sidelines telling everyone why this isn't such a good game to play in, will find themselves watching everyone else playing one heck of a game.
I would simply say, "welcome to the party!"
Don't let some of the Negative Nellies or Deb Downers discourage you.
This is a very cheap stock right now (it was even cheaper a few months ago), working in a hot market, that is getting hotter.
There are some that have been riding this for awhile (such as myself), and we are starting to see the fruits that we've had the patience and belief in all along.
But, I think we are all waiting on a significant update from the battery side of the house. While we HOPE to get that anytime in the next month or two, we may not hear a significant update for the batteries for another year.
Myself, I think they have something in the works that will allow us to see that significant update before Summer. If so, we could see this thing jump to near the dollar range.
I would think it to be the latter mentioned also. Bucillamine has already been in use in Asian countries for a few decades now.
Given that you would think that information would have already been made known if it were that one. But they are in the middle of their Phase III trials, so that may be information coming out.
I agree, I would LOVE to peel back that curtain and see where all of that is coming from.
Part of me thinks that MMs are continuing to position themselves to manipulate this as much as they can, while they can.
But the other part of me hopes that there are maybe some institutional investors jumping the pile now, given that one of the huge buzz words was dropped. If it is the institutional investors that can only be a good thing.
To me, this is a long hold. We may not see the part we want to see until late 2021 or 2022 (maybe even later).
I haven't invested so much that I am mortgaging good reason and my future/retirement for this.
However, I am invested in this enough that if it pops off I can certainly lose good reason and retire from this.
So, if this NEVER goes anywhere past .05, it is okay because it was a chance that I knew I was taking. But if it works out, then the patience will be worth it.
I care about the batteries. Because if they're real, which if I remember right you don't think they are, and BioSolar starts making sales from them then this stock has the chance to soar.
Being in two verticals of the alternative energy game is not a bad thing. Just because they are working on Hydrogen (through a subsidiary company mind you), does not mean that they CAN'T do batteries as well. That is like saying if they are doing batteries, they can't do storage.
Tell that to Elon Musk.