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Not produced in the states - rather, produced by a company based in the states.
That way, if issues ever arise, people can deal with Enzolytics Inc in Texas instead of Rosetta in Bulgaria.
As far as I know, all the company gave us regarding the IPF Immune launch delays are these lines from Page 16 of this disclosure:
https://www.otcmarkets.com/otcapi/company/financial-report/346487/content
Delays in producing sufficient quantiles for the market are being addressed. These delays have provided time for increasing production capability to meet demand.
Biggest differences are that it's being produced by a company based in the states, and also maybe the formulation (porcine vs bovine pepsin), as far as I can see.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170016517
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170017124
The post I responded to originally brought it up. I mostly wanted to point out that A/S is what's locking out dilution for now, and what the preferred class conversion rates appear to be.
The only , ONLY thing that is TRUE as of today is there is 3 Billion shares authorized and the rest is in the disclosures.
Company insiders (the Cotropias, Chandra and Harry) hold 395,180,000 Series B shares, so if those convert 1:10, ENZC could eliminate nearly 4 billion common shares of future dilution if alternative equity could be substituted.
That would still leave up to 1.35 billion shares yet to enter float, just from the instruments we currently have information about.
Quick correction to my last post. I said "5,310,745,365 new common shares" but I noticed that total includes the 380,289,565 restricted common that are already issued. (ie Those would not be "new" shares.)
More accurately, around 4,930,455,800 common shares might someday enter the float through conversion pathways and exercising of warrants. Up to 5,310,745,365 common shares that are not in the float now, may eventually enter the float.
Class B appears to be convertible 1:10 for common. Class C appears to be convertible 1:100 for common. Neither can currently result in significant dilution given the current O/S is 2,830,435,953 and the A/S is 3,000,000,000. So only ~170 Million new common shares can currently be created, which would be worth only $6.67 Million at today's prices.
You're right, we have no info on Class E, which are a convertible class.
I did an analysis in April and found conversion pathways for up to 5,310,745,365 new common shares, plus more from unknowns. If ENZC ever does a reverse split or increases A/S, that's when we'd need to be on the lookout for significant dilution.
In the meantime, the company says 380,289,565 of its restricted common shares "have met the SEC requirement for removal of the restrictive legends" so those could always enter the float imminently and have a dilutive effect.
A/S and O/S:
https://www.otcmarkets.com/stock/enzc/security
Company statement on outstanding restricted shares, Page 1:
https://www.otcmarkets.com/otcapi/company/financial-report/323613/content
Some parts of this DD are dated now, but the share structure hasn't changed significantly since April. Summary is toward the bottom of post:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168639909
Class B conversion 1:10 to common from earlier filings:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168313089
So yes, my outlook is what you said! XD
trending downwards towards the support area around .03
Mixed signals on the charts. I think we'll see choppy trading ahead.
If bears make another push, good chance they get stopped at .035ish briefly. On the weekly chart below, look at all the doji candles (long wicks, tiny body) in the higher gap around .05. Many trading days of market indecision, waiting for ENZC to deliver news. The gap near .035 is narrower, but it's a good place for a (temporary) support line.
Also note the 9 week moving average is currently looking to have crossed above the 20, which would be a major difference from past months. Still two days left to close this week's candle, so a strong push down Thursday and Friday could keep the 9 below the 20 and be favorable for bears. (Watch for cliff drops Thursday and Friday!)
If support happens near .035, ENZC has a few extra weeks to produce a catalyst of some sort. Additionally if this is going to stair-step out of the long term downtrend, .035 would be a liftoff point for a run to .10. So, the big picture setup would still be decent. But we won't see a dime without news.
Intraweek weekly. Dashed pink are bollinger bands.
On the daily, what first looked like a descending triangle may actually be a falling wedge, which is usually seen as bullish. If bears fizzle, bulls may start another push as soon as Thursday, since Wednesday's candle just retested the wedge bottom. If bulls rally and break out of the wedge (around .0475), profit targets include .065 (an old gap on the daily, and the weekly bollinger top edge.)
But personally I think the bearish case is stronger, that the wedge is a nothingburger, and that we'll see low .03's and high .02's before long. Bulls have missed several opportunities recently under arguably better circumstances.
GLTA
Daily, showing the falling wedge:
Daily, additional notes:
Nice article and thanks for your DD.
It's in the recent filings, Page 9 and title page.
On August 15, 2022, the company signed a lease its new physical address and telephone number, 1101 Raintree Circle, Suite 130 Allen, Texas 75013, telephone number, (972) 292-9414.
Looks like it's real, else ENZC might want to get a legal team involved.
Digital Journal cites PR Underground which lists Robert Grant from InHealth Media as a press contact. There's also this line:
For more information, email pr@nutrapr.com or visit enzolytics.com.
"The Company’s nutritional supplement IPF Immune™ will be available in the U.S. market this month."
“In the coming months, we will be working hard promoting IPF Immune™ to consumers and retailers,”
No worries! I found it mentioned in the latest quarterly under Liquidity on Page 6
https://www.otcmarkets.com/otcapi/company/financial-report/352649/content
In 2021, the Company has raised $2,000,000 in sales of Series E Convertible Preferred Stock and additional $950,000 in sales of subscribed Series C Convertible Preferred Stock. On May 12, 2021, the Company entered into a distribution agreement with a company to distribute the Company's anti- HIV-1 therapeutic ITV-1 in the countries of India, Pakistan, UAE, Indonesia, Philippines, Nigeria, Benin and Togo, Kenya, Tanzania, Rwanda, Libya, Uganda, North Sudan, Egypt, Morocco, and Tunisia. The Company received $1,000,000 in cash from the distribution agreement. As a result, the Company believes there are sufficient funds to continue operations and research and development programs for at least 12 months from the date of this report.
It's in the filings, I may be able to dig them up later when back at my desk. It was something like $2 million in cash in 2021 as I recall. Enough to avoid (defer) dilution in Commons.
NPI is supposed to catch all that, they are running marketing & distribution and have a zillion combined years of product experience etc.
That doesn't excuse ENZC's responsibility to get it right. Just...first the website and now the label, is NPI adding any value? :/
Side note, if you add up the ml in How to Dispense, a full regimen comes to 144 ml. People will need to buy three bottles! Good opportunity for some bundle marketing.
In the past they sell more Series E to raise cash.
As far as I know, Fidelity doesn't charge a fee for OTC trades. The rest of the retail brokers want fees in the neighborhood of $7. If you place an order and shares change hands, you'll pay the $7 even if your order doesn't completely fill, times out at the end of the day, or you cancel it.
There's usually some order settings where you can specify All-or-Nothing for your order. This ensures the broker won't fill for half your shares and leave the order hanging. I started doing this for smaller ENZC orders since mine kept getting fragmented into blocks as small as 100 shares.
Nice list, thanks.
TA in case anyone can use it:
Circling back to update the charts from last week.
Nothing particularly exciting on the 4h chart. We did revisit low .04's and now a break to the upside without company news seems iffy. Observations include lower average volume, RSI drifting lower, MACD staying red, and trading trapped inside that descending triangle. Getting closer to the apex, so we'll see which way it breaks in a few days.
4h chart
The weekly chart has some interesting notes. If ENZC is to continue its long downtrend, I anticipate a red week next, to keep the 9 week moving average below the 20. I circled a couple occasions where these two MA's got close together and the market rejected with stronger downward movement. Current bearish signals include the recent death cross, RSI drifting lower, MACD cooling toward crossover. Not shown are bollinger bands, but the 20 week MA acts as the midline (so this week's candle has taken a strong plunge into the bottom band)
GLTA
Weekly chart:
Thanks for the link. Appears the dotcom link used to be theirs as well.
It's in various places including old tweets like this one
twitter.com/SynergyEleven/status/1363217456844660740
But their twitter page itself is updated to show synergy11.marketing
https://twitter.com/SynergyEleven
Oh no, another website coming soon! :)
They do appear to be affiliated with NPI. Both companies have FL addresses 20 minutes apart in good traffic, and Christian Stanbury is listed as Managing Director of Synergy Eleven according to Better Business Bureau. Christian Stanbury is Director of Marketing at NPI.
Edit: Tkmoney1 found a link to the correct website. Thanks! That's a lot more professional looking.
Nothing to add here, looks like you and Dyno summed it up pretty well in this thread.
So IPF Immune "available in the U.S. market this month" did *not* mean customers will be able to buy it somewhere. I think I saw this movie in March!
Broadcasting intentions and then not following through is a chronic problem for this company.
- They should stop talking about what they hope to do, and just do it.
- Communication about setbacks would go a long way to boosting shareholder confidence. They just missed their own big date. Why?
let's touch base on Dec 1, and we can discuss that no one has any of this in their hands, or shipped, from the USA.
That's exactly what it looks like. In the bottom right corner of any page on https://enzolyticstherapeutics.com/ are the words "Made by Synergy Eleven Digital Marketing Agency" which I imagine is NPI's subcontractor (or subcontractor's subcontractor) since NPI was hired to do marketing and distribution.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168767623
This website was made back in March/April and appeared to be a prototype at that stage. Appears it never left that stage.
Thanks!
Interesting, you get the parking page if you include www in the link.
How do they have customer testimonials if no one can buy it yet? Maybe those are design placeholders?
I didn't make any argument about WHY there's a pattern. Relax my dude.
Have a happy Thanksgiving.
For this ticker, if you've been watching, there's often a small uptick just before one of those dates.
Regarding those myths, right now I'm only hearing one person repeating them.
Agreed about this:
Fear of the boogie man is not a valid investment strategy
It ended up trading flatter. I imagine we'll get there Friday. Short settlement date is next Wednesday so might get some green into next week.
Happy Thanksgiving to all, enjoy the day off!
Wut? I only hear one person saying that! :/ Entertaining it is.
At any rate, we'll see what happens!
.042 today. But on tiny volume.
TA in case anyone can use it:
I put some patterns on the 4h intraday chart below.
Bulls have had several favorable chart opportunities to push this higher. First is a cuphandle that failed to break out. That occurred within a symmetrical triangle that also failed to break out. After that came an inverse head & shoulders that also failed to break out. All of these are potentially bullish patterns but all of them failed to break out, showing weakness among bulls.
Now we're seeing lower highs and relatively steady lows as trading appears to be following a descending triangle, which is usually seen as bearish. This is similar to market behavior following many of ENZC's prior runs.
I expect to see this retest the low around .04 and bears to keep control in the short term. (Days to weeks.)
4h intraday, dark blue is 200 period moving average:
A few interesting notes on the weekly.
There's a Death Cross happening on the weekly (50 week MA crossing below 200 week MA). On the daily this would be a big deal (bearish), but I'm not sure how significant it is on the weekly due to how enormous the timescale is. 200 weeks is a whole lot of days.
Trading was actually following a falling wedge on the weekly (bullish), and ended up breaking higher. So, on the macro scale (ie weeks to months), there's a chance tides may be turning. Now if ENZC would drop some good news to catalyze this...
Weekly intraweek, light blue is 50 week and dark blue is 200 week moving average.
The latest PR says:
U.S. Product Launch Scheduled for IPF Immune
The Company's nutritional supplement IPF Immune will be available in the U.S. market this month.
source
Enzolytics IPF Immune(TM), an Immune Modulator, Is Introduced into the U.S. Market This Month
[Enzolytics, Inc.] announces that Enzolytics IPF Immune, its immune modulator, will be introduced into the U.S. market later this month.
source
Looking forward to reading your commentary on it, then. :) Some good questions were raised.
A quick look thru the fins and I didn't spot any surprises.
Some notes:
No revenue. (Page 2)
32,500,000 common shares are accounted on Page 4, these were issued toward the end of March after ENZC put out the special filing about share issuance history & dilution. Still no info on why they were issued.
Top of Page 6 rehashes what ENZC paid Bioclonetics people who own IP rights to ITV-1. (This info is not new, but I saw a question about IP rights come up last week.) It doesn't say the rights ever became company property, and the latest PR describes them as in fact exclusively licensed to ENZC.
"[T]he Company believes there are sufficient funds to continue operations and research and development programs for at least 12 months from the date of this report." (Page 6) There must be an arrangement to raise additional operating cash as they only show $294,316 in cash & cash equivalents on Page 1, and the cash burn for the filed quarter was $208,972 according to Page 3. Previously, they've sold Series E to a private investor to raise cash.
"The Company currently has no commercially approved products." (Page 7) But IPF Immune is coming this month?
Subsequent Events (Page 24) only mentions Dr. Kirsten Bischof oboarding, and the company hiring Gries and Associates in July. This particular filing is Unaudited.
Right, both are in the disclosure.
If the issuer leases any assets, properties or facilities, clearly describe them as above and the terms of their leases.
The Company signed a lease for a new lab and business facility at 1101 Raintree Circle, Suite 130, Allen, Texas 75013 All lease payments are current.
In addition, the Company leases a 695 sq ft office and laboratory facility located at 800 Raymond Stotzer Parkway Building 1904, Suite 2106, College Station, Texas 77843 for $2,595.00 per month. The lease ends in December 2023. The lease is currently month to month. All lease payments are current.
Disclosure Statement September 30, 2022 Page 15
If the issuer leases any assets, properties or facilities, clearly describe them as above and the terms of their leases.
The Company leases a 380 sq ft facility located at 2000 North Central Expressway Plano Texas 75074 for $650.00 per month. The lease is for a one-year period ending on December 31, 2022. All lease payments are current.
In addition, the Company leases a 695 sq ft office and laboratory facility located at 800 Raymond Stotzer Parkway Building 1904, Suite 2106, College Station, Texas 77843 for $2,595.00 per month. The lease ends in December 2023. The lease is currently month to month. All lease payments are current.
Disclosure Statement June 30, 2022 Page 21
It doesn't imply the financials will be audited, nor give us any timeline for the audit.
What we can conclude is that ENZC is aligning some kind of information (or formatting?) from the audit effort when drafting this overdue filing.
What does "adopting and instituting the suggested changes in the 2021 audit" mean? What are the suggested changes? Who suggested them? How significant are they to adopt or institute? Are the changes being made to the audit, or the filing? The company didn't elaborate.
Here's hoping the filing happens on schedule, and is audited.
Took a look at the disclosure statement, seems to be in order with no big surprises.
https://www.otcmarkets.com/otcapi/company/financial-report/351987/content
- Disclosure is correctly listing common shares outstanding, this time.
- 2.5 Mil Series E sold May 19, 2022 to raise cash.
- Extra line of clarification added on Page 6 "As a result of the merger termination, IMMB is a wholly separate entity from Enzolytics, Inc."
- Company physical address changed in August on Page 9: "On August 15, 2022, the company signed a lease its new physical address and telephone number, 1101 Raintree Circle, Suite 130 Allen, Texas 75013, telephone number, (972) 292-9414."
- Clarified on Page 9 that it was "through Bioclonetics" that the company leased office and lab space from Texas A & M University in December 2020.
- Clarified on Page 9 regarding Malone Bailey: "There were no unresolved accounting or financial issues between the parties." speaking in past tense this time, so it would seem the reason for terminating MB was not because of ENZC's accounting.
- The description on IPF Immune on Page 12 went from "Tested Immune Modulator" in the prior filing to "a dietary liquid supplement" in this filing. The language has been watered down to say "IPF Immune could be used as an immune supporter." Phrases like "immune modulator", "fortifying [the immune system] against infections", and "supporting the body's antioxidant defense" are gone from this filing. These changes are echoed in the verbiage on Page 15.
- There is no further info no what is the status of IPF Immune. It's "Introduced into the U.S. Market" per Page 13, but no one can buy it and shops are not selling it.
- There is no further info on Africa on Page 13, all we have is the same info as the prior filing.
- Recap of Abveris relationship on Page 14 but no new info.
- The ITV-1 toxicology study is noted on Page 14. The company says it "continues to progress with the GLP Compliant 28-day Repeat Dose Toxicity Study."
- Changes in company Facilities on Page 15 compared to the last filing. Company looks to be moving offices and labs from Plano to Allen TX. (Those cities are neighbors.)
- A couple new Company Insiders on Page 16 but no changes to numbers in the table.
- Investor Relations is blank on Page 17. (Tom is now gone.)
So the reason given is indeed a variation of 'Still working with the new auditor to finalize documents'.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170424884
Hopefully this means the audit is close, but as usual it creates another carrot on a stick for next week, next month, etc without giving us a real status or timeline.
I was just about to say. Good reference.
For anyone unfamiliar, Minerco claimed to have land in Jamaica to grow magic mushrooms. People caught them red handed when another business that had never heard of Minerco started developing on the land.
Minerco eventually got suspended by the SEC. Management reassured investors that they had "hired SEC counsel" and would "fully cooperate" with the SEC to get the situation resolved for shareholders. Needless to say, management was never heard from again and that ticker is still CE.
After the scam was exposed, that ticker quickly flatlined under .001 approaching .0001 as investors cut their losses.
TXTM looks to be following a similar path. CE is the kiss of death until a new company recycles the dead ticker. Keep a cool head and stay in control of your risk.
'Still working with the new auditor to finalize documents' would be perfect for an ENZC NT-10Q, after all the buzz about the audit. Both bears and bulls would eat it up.
Imo there's nothing to be gained by putting oneself in such a box. All the posts and predictions up or down haven't changed the macro behavior of this stock in two years. Company performance is what will keep ENZC down, or take ENZC higher, in the big picture.
Well supported DD and TA are always valuable, whether this trades higher or lower.