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And at great cost giving away millions of shares for pennies, diluting shareholders to death.
So what's up with this Harvard Pll, do they or don't they require FDA approval? Still find it strange not a mention of FDA in the latest press release. This from an older PR:
>>With respect to the Phase 2 clinical trial hosted by UCNT, the company is preparing the protocol for FDA submission. For FDA approval the company will use a central IRB (Institutional Review Board), as central IRBs move much faster than most university IRBs.
As for the Phase 2 clinical trial at the Harvard University teaching hospital, the Protocol has been approved by the Nursing Committee, Pharmacists, the Regulatory Committee and is under review by the Scientific Review Committee. After approval patient enrollment will begin.
What's your judgement say about a CEO who says this after losing 90% share value then taking options at a single penny?
"I’d like to express my gratitude for all the shareholders that have supported us throughout the process to advance our company to this next stage of ProscaVax development. I believe there is a bright future ahead of us.”"
So true. If only I knew then...
Of all the many biotech's out there, I find it very interesting that Onc was paired up wth Peregrine in that old article. Peregrine shareholders were known on the Street to be the most gullible.
There's DD in there?
These are fractional penny day players. Can't stop it.
So I have it straight, you're finagling over some thousands of dollars in market cap for a stock you think is worth billions? Lol.
Wow, love this one.
>>I received an email from the IR lady at the company asking me to remove certain posts from the board. I don't think they violate the TOU but she said it was best for the company if this information was not posted on the board. Can I remove them?
Let them post it but just saying to back it up with an image of the statement holding, other it's just empty boasting meant to bait people. Thanks.
There ARE a lot of options on how this vaccine gets to market but not all of them include common shareholders making any money.
Demand proper common shareholder representation on the BOD!
You can't know that. Leadership is currently giving away millions upon millions of shares at almost zero. That tells me they don't care about current shareholders or current share value. They could sell off what's left of the authorized and barely pay for even part of the Pll trial. A reverse split s nothing more than a rinse and repeat job and an indicator failed leadership. Meanwhile they can reprice options while we can't.
"There's no plans for a reverse split"
No worries Weedman. Will do. Just glad to have an honest fellow moderating. How many moderators are there, btw?
I spent ten years on another board expressing my concerns on governance, fiduciary duty, financial structure, and IP issues. The Rose colored glasses gang there hated me and deleted my messages, convinced others to ignore my post, and eventually banned me altogether. So I moved to Yahoo to carry on.
Well, turned out most all of my concerns were valid and shareholders lost just about everything to an unscrupulous crew. The firm who eventually took things over wrote a scathing report on the old leadership and pretty much gave the worthless IP away, but only after they had spent $500 million, much of it gone to salaries and bonuses over the years.
Funny thing is even with all that, the Hubbers there never allowed me back on that board while refusing to mention my name or give me any kind of proper nod.
So I know there's a lot of boiler room types on these boards, mindlessly pumping away for whatever reason. But putting that aside, remember that real investor can naturally fall into 'group think', which can be equally destructive to your wallet.
My previous reply to you was deleted for some reason.
Didn't think so. Lol.
Let's have Southern use that noggin and tell us what's going on here?
Escrow agreement
>>At March 31, 2018, $200,000 of the aggregate subscription amount of the March 2018 financing is being held in escrow and shall released upon the upon the satisfaction of certain conditions or waiver thereof by all of the investors, including: (i) the Company shall have filed its annual report for the fiscal year ending December 31, 2017 on or prior to April 17, 2018, (ii) the Company shall have sold or otherwise disposed of its subsidiaries Vitel and Oncbiomune México, S.A. De C.V. and reserved an aggregate of 46,158,013 shares currently held by Vitel principals for the benefit of the investors and (iii) the Company shall at all times be in full compliance with the conditions set forth in Rule 144(i)(2).The $200,000 is included in prepaid expenses and other current assets of the accompanying condensed consolidated balance sheet at March 31, 2018. In June 2018, the $200,000 was released to the Company.
In connection with the Company’s obligations under the November 2016, June 2017, July 2017, January 2018 and March 2018 Notes, the Company entered into a Security Agreement, Pledge Agreement and Subsidiary Guaranty with Calvary Fund I LP, as agent, pursuant to which the Company granted a lien on all assets of the Company (the “Collateral”) excluding permitted indebtedness which included a first lien held by Regions Bank in connection with the $100,000 revolving promissory note entered into with Regions Bank in October 2014, for the benefit of the Purchasers, to secure the Company’s obligations under the Notes. Upon an Event of Default (as defined in the related Notes), the Purchasers may, among other things, collect or take possession of the Collateral, proceed with the foreclosure of the security interest in the Collateral or sell, lease or dispose of the Collateral.
During the three months ended March 31, 2018, the Company issued 28,450,009 shares of its common stock upon the conversion of principal note balances of $249,359 and accrued interest and penalties of $86,33
Convertible notes and warrants, aka death spiral convertible.
See details in 10q.
Note to self:
Still no cc where retail shareholders/ investors can ask smart questions in a public arena. Hmm.
Anyone want to discuss ( probably not) the Mexico man situation....All those shares he appears to still hold...The bonus Head got for the deal...what's happening with all that? Thanks.
And on and on...
Good to have a fellow veteran willing to teach a little among us.
Watch for the selling of those authorized and then the reverse split to create more authorized. If they go that route current shareholders will likely never make a thing.
A thank you for losing us 99% of our hard earned money and trading millions of shares for the cost of a stick of gum. A double thank you for taking options at 99% less than many of their shareholders.
The company's current cash holding appear to be less than a nurses weekly salary.
Yeah, pretty much nothing can go wrong from here. Lol.
Thanks for laying out the complexities.
"FDA approval and Phase 2 completion happening soon. Shortly after products available, lives getting saved, OBMP and Shareholders rewarded"
Short volume data is useless to analyze with these tiny OTC stocks. And the stock can be manipulated by a group to mimic any chart you think is worth following.
Did you see those awful warrant numbers under a penny? Meanwhile execs are pulling in $300k salaries somehow.
You need to track shares outstanding through the years. $6.50 with how many shares outstanding back then the will give you the old market cap...
Shares outstanding charts are not easy to find and that's how they want it.
Also consider previous reverse splits, if any.
...I've had many discussions whether the FDA requires proof of funds to sustain and complete a clinical trial, and I'm still unsure. Anyone want to contribute something?
One would certainly hope so but better to see it in writing. Careful with penny stocks.
This stock has nothing to do with 2014 events.
You must all remember to communicate market cap not share price, as the later means different things to different investor entry points.
Why don't you seem to care that they have no cash? ...That the FDA wasn't mentioned in the pr? ... that the warrant and options deals are incredibly destructive?
We better hope for a government grant or an angel, otherwise this thing is a goner...and our hard earned cash too.
Not going to get there this way:
Although the Company has historically raised capital from sales of equity and from the issuance of promissory notes, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
That is good news but have to say, I'm slightly troubled as there's no mention of the FDA. Don't believe I've ever seen a trial start announcement without some mention of the FDA.
Better hope so.
Going concern
These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in our accompanying unaudited condensed consolidated financial statements, the Company had net loss from operations of $446,046 and $776,769 for the three months ended March 31, 2018 and 2017, respectively. The net cash used in operations were $433,878 and $670,842 for the three months ended March 31, 2018 and 2017, respectively. Additionally, the Company had an accumulated deficit of $14,338,049 and $23,655,989 at March 31, 2018 and December 31, 2017, respectively, had a working capital deficit of $5,184,447 at March 31, 2018, had no revenues from continuing operations since inception, and is currently in default on certain convertible debt instruments. Management believes that these matters raise substantial doubt about the Company’s ability to continue as a going concern for twelve months from the issuance date of this report.
Whatever happened to a group of COMMON shareholders sharing their dd on the stock's message board? ...Otherwise what's the point really. And the dd doesn't always have to be positive. Negative dd is just as valuable to help improve the company.
The idea is to move as a group with common interest to assure proper common shareholder representation and to hold management accountable when there's glaring problematic issues.
This post sticky with a P.
Because...?
As I said over and over, why are you waiting for the 10q...why are some posters here pushing "the Big event"?
"No big deal" ...lol!
Ever hear of "Buy on the rumor sell on the news"?
Show us some evidence of this thin wall some here keep affirming. Thanks.
Tough to raise cash without it. And as another poster indicated, it's been a problem in the past. Do they have the funds to pay for the service?