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"Insiders would not be buying for the first time if they intend to dilute like you imagine."
It is so obvious what is going on here.I don't "imagine" they intend to dilute, I know it because they've said so.
They announce it themselves quite clearly in this document, which was issued after the discharge of their Iroquois toxic debt.
I don't see how the 10Q allows any other interpretation- perhaps you could show me where in the document it says otherwise?
Sambeaux is of course correct.
Anybody looking at a potential supplier will want to know that they are sufficiently financially stable to be able to stay in business in the medium to long term, in order to provide any after sales support required or to purchase new equipment, consistent with existing equipment.
You also want to know they're not going to fold when you've paid them for services or equipment that hasn't yet been delivered.
Companies that are dependent on diltuion to survive and who compensate their suppliers with increasingly worthless shares don't come up on the various screens as good credit risks. There's a whole service industry that performs such checks on potential suppliers or partners, and you can be reasonably sure that FASC doesn't warrant a triple A credit rating, and part of the reason for that is indeed the poor market capitalization, reflected in turn by the stock being priced at pennies.
"CFM and Accum/Dist. tells it all."
I rather doubt it, particularly on a penny stock which tends to be even more immune from the (alleged) predictive powers of TA than a regular stock.
I'd have thought given you and your day-trading colleagues previous track record of 100% failure in predicting not only the magnitude but even the direction of the pps of Biophan, you might want to be a little less categorical in your forward-looking statements.
Other reasons you might want to be a little cautious include three very salient facts from the last 10Q.
The first is a little like the Sherlock Holmes mystery of the dog that didn't bark in the night. For the first time since the acquisition of the Myotech CSS project, the 10Q didn't put forward a time scale for the commercialization of this device.
Now given that every time in the past the date they've given has been wrong (in that it's been too optimistic)you might understand this, but at least it was a yardstick against which they could be measured (and found wanting).
The absence of such an indication would worry me considerably if I were a Biophan shareholder.
Secondly, the 10Q gives no suggestion whatsoever that they will cancel the planned MegaDilution to 800 million shares. In fact it explicitly states that they intend to continuie soliciting a sufficiently large majority to allow that to happen. A number of our new day-trading friends have said that they believe this dilution would be cancelled. Are they concerned that it is still Biophan's stated intention to dilute by 357%?
Thirdly, I was intrigued by the full scale of the dilution that has occurred over recent months. Judging from the weighted average figure at the end of August, I suspect there are probably 200 million shares out there already.
Finally, it was no surprise to have confirmation of what I beleived ever since I started studying Biophan's filings a few years ago:
"As a result of the material weaknesses described above, our management concluded that as of February 29, 2008, we did not maintain effective internal control over financial reporting"
In other words, all of Biophan's previous filings were wrong. While this does not come as a shock to me, again if I were a shareholder I'd be upset to have been so egregiously misled.
And if I were a litigious shareholder, I'd be looking to punish those people who were responsible for misleading me, both within and outside of the company, including their paid agents and "consultants" on message boards such as these.
So I take it you're a Biophan holder too, with a NDP like that?
No doubt you own NNAN, too.
Are you beginning to see a pattern in what happens with your stocks at all?
The fact that the "managements" of your companies, plus their toxic finance friends are making out like bandits, whereas you have lost most of your original "investments" may give you a clue as to what that pattern might be.
Sunspotter (aka voldemort.2001)
No problem. At least it was on topic!
"not long before the .03s & .04s will be history...
not pumping...that's an honest opinion only.."
As it happens, I agree with you.
Within a year, whether or not there's a reverse split (and I strongly suspect there will be)anybody long on Biophan will look back with nostalgic longing to those heady days when the Biophan pps was as high as 3 or 4 cents, back in June 2008.
The reason I believe that?
The proposal to MegaDilute to 800 million shares is on the table, BIPH's new "business model" gives them the perfect excuse not to develop Myotech CSS themselves (not that they ever showed any signs of being serious about that anyway), and the remaining cash on the balance sheet is being siphoned off little by little to private vehicles such as BioMed, Myotech and TI, behind each of which lurks the toxic figure of Michael Weiner.
If you're still here in a year, let's check back and see who's right.
In the meantime, as you're "not pumping", perhaps you'd honor us by giving us the thinking behind your "honest opinion", beyond the vague feeling you've already expressed that things are moving in the right direction. TIA.
Naughty Dr. Fritsche!
Doesn't he know that he must declare a conflict of interest when he makes a nice bankable quote on HDC's PRs?
So when he says:
"The excellent results seen in Phase I, Phase II, and Phase III double-blinded clinical trials validate the scientific accuracy and robustness of the HDC gene-based molecular diagnostic test for prostate cancer,' stated Dr. Herbert Fritsche, Professor of Laboratory Medicine and Chief of the Clinical Chemistry Section at The University of Texas, M.D. Anderson Cancer Center in Houston, Texas. ``Physicians that are diagnosing and treating prostate cancer patients will be greatly assisted by the additional information that this new prostate cancer test will add to their decision making process."
He should add:
"I must declare a conflict of interest. I am both a member of HDC's Scientific Board
(Mission: "The Scientific Team works very closely with HDVY management to accomplish the goals set forth" - You betcha!)
and a major shareholder. My remarks need to be interpreted in that context."
I wonder if Senator Grassley or the appropriate folk at M. D. Anderson know how is using his position to further his personal interests?
Seems lots of folks connected with HDC don't understand conflicts of interest.
PS Some one should tell HDC's PR firm about the difeerence between possessive "its" and abbreviated "it's".
"it's Phase III" indeed. Schoolboy howler.
Announcement from the moderator:
As your new moderator, I can promise you an efficient board where the trains will run on time.
But remember, please: posts on topic, and backed by data and arguments.
Thanks in advance.
It's kind of eerily quiet on this MB after all the hoopla of the past days.
As I said before, I hope all that rah rah posting with pom poms didn't cost Biophan too much - after all, they really should be spending that money on the development of the Myotech CSS device, shouldn't they?
Any bets on whether or not they're going to cancel the MegaDilution to 800 million shares?
Kinda thought they might have said something about that by now, as I suspect it has a sugnificant bearing on the sentiment towards this company, and towards the value of its stock.
Still, if you think the true raison d'etre for this outfit is not to generate wealth for its shareholders, but rather to provide a vehicle to transfer private retail shareholders' money to private companies, you'd want the flexibility that 357% MegaDilution could provide.
After all, the funds that will doubless be transferred to Myotech's mysterious private owners and to BioMed need to be sourced from somewhere.
"If there are 115 machines sold at around $300,000 or so a machine
That would be very good news for shareholders imho :)"
And if there are no machines sold at any price, that would be pretty much the news shareholders have received for the past several years - promises of great things to come with a consistent failure to deliver anything that actually generates sustained value ;-0
While I can see why you might harbor the belief that all of Natural Nano's filings are a work of fiction, in this particular instance the contents of the filing will allow NNAN's "management", their toxic financiers and their associated arbitrageurs to milk the long-suffering shareholders for a few million more dollars.
Given this has been the modus operandum of all of Michael Weiner's public company set-ups (syphoning off private retail shareholders' money to his pockets and to the pockets of his known associates) I think we can accept this filing as being a true reflection of reality for once:
http://app.quotemedia.com/quotetools/showFiling.go?name=NATURALNANO%20,%20INC.:%20PRE%2014C,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D12%26ipage%3D5895318%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=on&type=HTML
In general, however, I would share your reluctance to believe anything Natural Nano publishes or says.
"Ogclip © Date: Monday, September 29, 2008 8:43:15 AM
In reply to: None Post # of 4038
Morning guys.. Lets rock this week."
How'd all that rocking go this week? I seem to remember many predictions of great pps appreciation for this week by just about all of our new daytrading buddies.
Still, it did distract from any meaningful discussion of the real issues around Biophan, which I guess was the main point of the whole exercise.
Hope it didn't cost too much - really Bophan should be spending that money on developing the Myotech CSS.
How scary is this??
"INFORMATION STATEMENT
ACTION BY THE CONSENT OF STOCKHOLDERS WITHOUT A MEETING
This information statement is furnished to all holders of Common Stock of the Company as of September 12, 2008, in connection with the proposed actions to be taken by the Company without a meeting pursuant to the written consent of the holder of a majority of the voting power of the Company:
1.
The amendment and restatement of the Articles of Incorporation to increase the number of authorized shares of the Company’s common stock, par $0.001 per share, from 300,000,000 shares to 5,000,000,000 shares.
2.
The amendment and restatement of the Articles of Incorporation to give the board of directors the power and authority, without a shareholder vote, to approve and implement forward and reverse splits of our common stock upon approval of a majority of the directors.
3.
The approval of the NaturalNano, Inc. 2008 Incentive Stock Plan (the “2008 Plan”) and the reservation of 800 million shares of the Company’s common stock for issuance under the 2008"
I make that proposed dilution by a factor of 16.7, or 1666%.
That's pretty impressive MegaDilution, even by the standards of one of Michael Weiner's personal wealth creating machines.
And the reverse split - always a winner.
A winner that is for the toxic financiers and arbitrageurs who seem to happily co-exist with the "management" of such companies, as they short the newly priced shares back to the level they were at before the R/S.
It really is about time the SEC did something about NNAN, BIPH and the other scams surrounding them.
For those of you untutored in daytrader lingo, a brief translation of the foregoing posts:
"We need this to go up, because we've bought at several stages between .009 cents and .019 cents. We thought that by appearing here en masse - or at least with lots of different IDs - we could generate some momo, convince a few long term BIPH holders that there was still hope, and get a suckers' rally underway (let's face it we know these folk are gullible otherwise they wouldn't be here in the first place).
However our confident predictions have proven (as is usually the case with such things) to be completely wrong.
Rather than admit we don't really have a clue what we're talikng about, however, we're going to bluff our way through this by talk of large buyers, insiders holding the price down intentionally, secret accumulation, market makers' manipulation and all the rest of the day-trading pseudo-technical jargon, in the hope we can finally get that suckers' rally on the go."
Unfortunately the facts rather militate against the pump and dump they're trying to generate.
Those facts being that Biophan is a company that staggers from crisis to crisis, that only resolved its "sewer rat" problem because not to do so became unsustainable in the face of logical arguments, still hasn't cancelled its intended 357% MegaDilution and has a bigger sewer rat than the previous guys still on its case (BioMed and MW).
And perhaps most significantly, Biophan has yet to outline a plausible development plan, complete with costs and milestones for its sole product candidate, Myotech CSS.
I'm guessing that's because there isn't such a plan, and indeed that such a plan may not be possible.
I'm afrad our daytrading chums may have to take their losses, lick their wounds and move on to their next momo P&D opportunity.
Better luck next time, guys! (But just a hint to the wise -try to keep the TA jargon and the excuses more credible.)
"clay was already an existing market via Atlas Mining...in terms of halloysite clay"
The twist being that it has now transpired that no halloysite clay was mined at Atlas's Dragon Mine, and that indeed it may not even exist:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6124845-866-27962&type=sect&TabIndex=2&companyid=69126&ppu=%252fdefault.aspx%253fcik%253d8328)
It's now clear that anyone out there who was an Atlas Mining shareholder has been sorely deceived.
Here's a few snippets from that Current Report filed on August 20:
"The Company is “uncertain . . . whether . . . commercially viable deposits or ‘reserves’ exist on any of our properties.”
In other words, after nine months of investigation they still don't know whether or not the much vaunted halloysite clay actually exists at the Dragon Mine or not. I think I know what the likely final answer is.
"The Special Committee has determined that Mr. Jacobson was primarily responsible for the securities law violations set forth above."
Translation: Jake's a crook.
"During the period beginning in 2002 and ending in early 2006, approximately 30 million shares of Common Stock were issued in violation of the federal securities laws, including the registration provisions of Section 5 of the Securities Act of 1933. The violations involved (a) misuse of SEC Registration Form S-8, a short form registration form for compensatory issuances to certain officers, directors, employees and consultants (approximately 16 million shares were issued under Form S-8), (b) transfer of 9.9 million shares to related parties and affiliates that were purportedly sold under a Company Registration Statement on SEC Registration Form SB-2 and subsequent resales without compliance with the plan of distribution contained in the Company’s SB-2, and (c) grants of at least 2.8 million shares purportedly made pursuant to the exemption from registration set forth in Section 4(2) of the Securities Act."
This was not a small scale fraud, or just an oversight. It was a multimillion dollar fraud.
Makes you wonder quite what the KDS sold to Atlas was used for, and why Atlas, Natural Nano and Atlas claimed sales and processing of a product that didn't exist.
"HTOG did the same thing.. Tons accumulated on the bid, and one day it started running, and ran for 1000%"
palacian doesn't like it when you spam stocks. He told me off for mentioning a stock (actually in an unfavorable light), and I was referring to a stock that actually had some links with Biophan, rather than some historical event with an utterly unrelated stock that you'd like people to think BIPH will copy.
Just as an FYI, for those keeping the score, the day traders who've graced us with their presence for the past three trading days are 1 for 3 in terms of direction, and 0 for 3 in terms of magnitude of the change. Hope not too many of them are stuck on the wrong side of a trade, but if I believe their stated intentions, then the majority of them are.
No wonder all the empirical evidence says that charts don't work for penny stocks, and that the majority of day traders make a loss.
PS:
Market manager manipulation
Tons of accumulation
The charts don't lie
are all the traders' equivalent of "the dog ate my homework".
I ask:
"Why haven't Biophan announced plans to abandon the planned MegaDilution of the float to 800 million shares?"
You reply:
"how about they have, but didn't inform you or any of us?"
In which case I feel bound to point out it wasn't much of an announcement. More like the sound of one hand clapping.
I think existing and potential investors would be re-assured to know that plans to dilute their holdings by 357% have been dropped. Some posters have speculated that they believe these plans have been abandoned.
If they don't confirm it, then people who know Biophan's past record could be forgiven for assuming the worst.
Next: "How are they going to deal with their new senior debtors, led by one (now widely reviled, but unitl recently hero-worshipped) Michael Weiner?"
Your reply:
"are you insinuating toxic financing or just old folks with
money on the line?"
No, I'm remarking that BioMed, led by Michael Weiner need to be watched like hawks. The consensus is that he is incompetent and not to be trusted - even MBD says so. You know the old saying about supping from a long spoon when you dine with the devil.
Next (ignoring the chess remark which didn't make sense, given that I was merely pointing out that letting these guys make an acquisition when they should be focussing on the Myotech CSS development, doesn't seem very sensible, given their past track record):
"Will any new acquisitions result in the syphoning off of tens of millions of dollars from Biophan's balance sheet into private hands..."
Your reply:
"your insinuation of been done before
may be missplaced since the original biomed loan was at a
loss to generate free cash although many saw it as mw lining
his pockets while he was not."
No insinuation of anything. The fact is that Biophan transferred well over ten million dollars to the original private owners of Myovad, or whatever it was called then.
That's money that used to belong to you shareholders.
And now it doesn't, that's clear.
What's not clear is what you shareholders got in return, or why Myotech CSS is always 18-24 months from commercialization. A little like the speed of light, that 18-24 months from market seems to be a universal constant, immutable and immovable.
You request:
"please do not spam the board with other stocks. your
reference has not been discussed on this board at all
to my knowledge. even so it is irrelevant."
Not an unreasonable request, with two minor caveats:
Firstly my reference to Intrepid Technology in no way can be considered spam. I have consistently been negative on that particular stock, and nothing I said could be considered to be an exhortation to buy. Quite the contrary.
More significantly, it is not irrelevant. Quite apart from having the same kind of toxic financing as BIPH had, it has also been promoted by some of the very same posters who promoted Biophan. The recent sad decline is what you might expect from Biophan if it continues its MegaDilution plan, and undergoes the reverse split that would be an inevitable consequence.
Your request not to spam stocks might be better addressed to your new day-trading chums, who leaven their mumbo jumbo about charts and manipulative market makers with numerous references to other stocks with which they attempt to draw (entirely inapposite) parallels with Biophan.
I hope you don't mind me remarking that your tone is a little intemperate. Seems to me you might be a little over-invested here, judging from your obvious hostility.
You might want to chill out a bit.
"Please save someone else...as a heart patient, who has survived two interventional angioplasty procedures, I'm beyond salvation..."
I keep repeating this, so one more time won't do any harm.
I'm not here to save anybody, I'm here because I have a hobby of studying likely scam stocks, and those who feed off them, such as their toxic finance partners and their message board promoters.
The fact that I've received thank you emails from folk who were prompted to do their own proper due diligence and didn't make the same mistake as you and lose $50,000 is merely a welcome collateral side-effect.
BTW, if you honestly think that Biophan would have paid off that senior debt without the shareholder pressure that was in part generated by the unanswerable questions that were posed on this MB by parties such as me, then I suspect you could easily lose another $50,000.
The questions you should be asking now are:
1) Why haven't Biophan announced plans to abandon the planned MegaDilution of the float to 800 million shares?
2) How are they going to deal with their new senior debtors, led by one (now widely reviled, but until recently hero-worshipped) Michael Weiner?
3) Why in their recent public announcement have they focused on a "strategy" of acquision rather than applying a laser-like focus on developing the Myotech CSS device? As long as they have FTO, then they don't need to be waiting for any other patent related issues before developing this to the stage where they can get FDA approval. Quite the opposite in fact.
4) Will any new acquisitions result in the syphoning off of tens of millions of dollars from Biophan's balance sheet into private hands (this has happened historically, in spite of attempts by Biophan's suppoerters to pretend it hasn't)?
Interestingly, yet another penny stock company promoted by some of the same parties as Biophan has hit historical new lows recently, and is surely doomed. Check out the IV MB for Intrepid (ITRP) if you want to see how loyal shareholders can be strung along by the agents of toxic financiers until it's too late to emerge with any with any significant remaining capital.
So utterly predictable, but not one whit less sad for all that predictability.
Ah, yes, uphillride.
Long time since this MB has heard from him.
However, if cyberbub0 thinks he'll be back, I'm sure he's right.
"Voldork...please save us from that 357% percent dilution...LOL"
I rather suspect those of us who pointed out in forceful terms on numerous occasions that there was no need for that MegaDilution enforced exactly that salvation.
However, the fact remains that you have "management" who would have done precisely that without the fight back that we led.
They still can't be trusted, particularly since the new business model makes no mention of Myotech CSS, but does call for fresh acquisitions (aka move any available cash of BIPH's balance sheet into private hands).
Add that to all the recently appeared day traders with their mystical lingo designed to make others hold while they dump, and I think you Biophan investors still have a major problem.
I mean. Who's paying these guys and why? They've appeared from nowhere like a plague of locusts and will no doubt disappear equally quickly. MBD may recognize kindred spirits, but if you're honest the rest of you long suffering shareholders know that these are here today, gone tomorrow opportunists.
Reality over. Back to those charts.
"In all my years, this is only the 2nd or 3rd time I've seen a strong finish one day only to open with a gap down without a nice recovery."
I'm kind of suprised that you say that, because I've seen precisely that pattern with every pump and dump stock I've ever seen.
But, hey,let's be honest. You know that what you said isn't true. Every trader knows that. Every forensic investigator of likely scam stocks knows that.
It's only the marks who don't know that.
Unless someone warns them, of course.
Marks, consider yourselves warned. It's P&D marked large.
If you're not a big ass tough trader, then you're the target.
Buyer beware.
Market maker manipulation?
Stochastics?
ADX?
Temporary pull back?
Huge buying opportunity?
Just like every other pump and dump stock MB when the day traders get there.
Please, whoever's paying them, make it stop.
TIA.
PS This MB is identical to the FASC MB with the drowning out of any half-thoughtful or critical post with this pseudo-trader lingo and false optimism. I wonder why?
A vindication for those of us who pushed for such action in the face of insults and opposition from some of the management apologists.
Next I hope to hear that Biophan have cancelled their request for the MegaDilution to 800 million shares (the announcement about acquisitions is somewhat worrying - these guys should be focusing on the one thing they appear to have, the Myotech CSS, rather than on buying somebody else's cast offs. After all, they've already moved enough cash off the balance sheet into private individuals' and entities' hands).
And don't forget the toxic financiers are used to making a few hundreds of thousands of dollars from this stock every month. Now they have several more million shares to play with, they'll be looking to that old classic, the pump 'n dump routine to make up for the loss of guaranteed shorting revenue.
Still, on the whole, I'm sure you're glad that we asked some tough questions of management that could only be answered in one way.
Now they can prove they're a serious business. Or not, as the case may be.
I'm aware that you have board rules.
It's just that I couldn't for the life of me see how adsin1234's post concerning the payment of shares to the company in question contravened any of those rules.
I also note that the rule that forbids "to the moon" pumping is more honored in the breach than in the observance, but none of those type of posts ever seem to get deleted.
Looks like adsin1234 hit a raw nerve or three with his revelation about the three quarters of a million shares that were paid for the website design.
And with several of his other posts that were deleted.
It's funny that in reality "to the moon" pumping is de rigeur, rather than frowned upon here, whereas any reasonably critical view is deleted.
I wonder who is so nervous and why?
Answers on an e-postcard please to enforcement@sec.gov
"You can always lose 100% of whatever you invest."
I'm not sure the word "invest" should be used in connexion with a purchase of Biophan stock.
It's a financial oxymoron.
At least, that's what BIPH's "management" must think, or else they'd be demonstrating their confidence in all the wonderful things that some folk claim to have spotted in their 10Qs and 10K s by buying BIPH shares, using either their own money, or the company's money.
Until they do, I can't see any earthly reason why anyone else would be tempted to do so (except as a trading opportunity, and I suspect that's riskier than you might think).
Quite right, palacian, I did get confused there, by typing in PRW when I meant BIPH. I'm not the first person to have made that particular Freudian slip, and cognoscenti of likely scam stock candidates will know exactly why. Sorry all the same.
What my post should have said is:
"Darn tootin' that's some impressive investing.
Now imagine BIPH insiders doing the same thing with $10k to $100k every day for the next few months, preferably with the company's money and then retiring those shares. Even using their own money, the odd $1,000 here or there every couple of days, and putting it aside into a 401k or an IRA would be a huge statement of confidence.
The pps would shoot up, the number of shares they'd have to issue to their "sewer rat" associates would decline dramatically (even if they didn't use those shares to pay them off with) and they wouldn't have to issue the extra 625 million shares they are so desperate to get approved.
Why don't they? They sure as heck have got the money, and they don't seem to be doing anything else with it in any kind of hurry.
Go figure."
Now perhaps you could explain why this "same old buy back bs" as you rather impolitely describe it, is not a better strategy than diluting the existing shareholder base into oblivion while blowing the pps down below fractions of a penny as a obvious consequence of the 357% dilution proposed by the current "management".
PS, as somebody has already noted today, and as I have noted previously, Messrs Weiner and Lanzafame go a long way back together. They worked together at TI and at Natural Nano, and Weiner brought Lanzafame into Biophan. I'm afraid the old three envelope trick (ask me if you don't know the story) has no credibility here.
"look at that spotter somebody plunked down
$2000 for some biph @ $.011. wow."
Darn tootin' that's some impressive investing.
Now imagine PRW insiders doing the same thing with $10k to $100k every day for the next few months, preferably with the company's money and then retiring those shares. Even using their own money, the odd $1,000 here or there every couple of days, and putting it aside into a 401k or an IRA would be a huge statement of confidence.
The pps would shoot up, the number of shares they'd have to issue to their "sewer rat" associates would decline dramatically (even if they didn't use those shares to pay them off with) and they wouldn't have to issue the extra 625 million shares they are so desperate to get approved.
Why don't they? They sure as heck have got the money, and they don't seem to be doing anything else with it in any kind of hurry.
Go figure.
"just using accurate looking numbers
does not make them accurate."
And just implying that they are inaccurate without showing in what respect you believe they are inaccurate or showing specifically how they are inaccurate doesn't make them inaccurate.
And yet if they are inaccurate then you could surely demonstrate that.
The fact that you don't even make the attempt speaks volumes.
"jazzer has a good response for you."
And I think you'll find that Jazzer's response in no way even tried to gainsay the numbers I presented.
Fact: as BIPH issues more shares to reward their "sewer rat" associates, the market cap will be spread among more shares and the pps will decline. Then they'll have to issue yet more shares the next time round.
Fact: they could stop the rot by buying their own shares on the open market, and using those as payment for the "sewer rats".
"don't lie to me"
Never have done, and I don't intend to start now.
"interestingly, you use a lot of impressive numbers which
reminds me of something my dad said. "if you want folks
to believe you even if you are lieing, use fractions.
everyone will think that you know what you are talking
about.""
Yeah, sorry about that. I just have this habit of trying to underpin the points I make with facts and data.
I can see how that would unsettle some folk, but it's just a thing I do. Can't help it.
Tell you what, though. Rather than imply I'm "lieing" (a bit like lying, I guess) why not take me through where it is my numbers are wrong, and show why the assumption that BIPH's pps will hold even after a few more tens of millions of shares have been issued to BIPH's "sewer rat" cronies, is not as ridiculous as I think it seems.
That would be a bit more convincing as an argument than an innate, or indeed inherited, distrust of those who would back their arguments with quantitative data.
TIA.
"several folks have calculated that to fully sate the
rats will take closer to 300m than 625m shares. please
get your facts straight."
I only saw one such calculation here, and it was based on something allegedly said by John Lanzafame.
That calculation was of course deeply flawed because it assumes that the pps will remain at 1 cent throughout this lengthy process of death by dilution.
Logically, that wouldn't be the case.
Let's assume the next three payments to the "sewer rats" from the beginning of October to the end of the year requires 17.5 million shares, just to give an approximately correct round number.
That represents dilution of 10% because it would take the float up from 175 million shares to 202.5 million. The effect of that is to spread the market cap more thinly among those shares - each share would now only be worth 0.9 cents rather than the one cents the assumption required.
By the time 175 million more shares have been issued, the pps will be at .5 cents all other things being equal. The more astute of you will notice that means that even more shares need to be issued to pay the "sewer rats" next interest payment demand. In that fashion, it won't really take long beofre all those 800 million shares are out there.
That's the wonder of highly toxic financing.
"your supposed good idea of a buy back is pure hogwash.
this too has been explained that buying biph shares
high inorder to feed them to the rats at a discount
is very bad financing. a loser."
With respect, nothing could be worse than the current plan of feeding BIPH's "sewer rat" buddies more and more shares, diluting the existing shareholders, lowering the pps even more and allowing Iriquois unlimited and entirely legal short selling opportunities.
I must say that I find it implausible in the extreme that Iriquois refuse payment in good old greenbacks and insist on shares, as Ms. Hotchkiss has apparently claimed, and immediately bear the market risk for those shares.
If that is the case, however, the use of the $5.6 million that sat on BIPH's balance sheet at the time of the last 10k would be quite sensibly employed on a share buyback.
First of all, it would obviate the need for any more dilution, because they would mop up existing shares. If they bought enough for a few months' worth of payments at one go, they would actually reverse the dilution that's happened over the past few months and reduce the number of shares outstanding considerably. If this stock is as undervalued as some folk claimed, it's the best possible use of that money.
That in turn would push up the price per share, both by this reduction in shares outstanding, but also by the confidence that Biophan's management would be demonstrating in their future by investing in their own stock.
A higher pps would mean fewer shares (even if discounted) to be paid to Iriquois at the beginning of each month, so that's a good thing too.
In fact, the strategy I suggest would turn a vicious toxic cycle into a virtuous cycle and would be the beginning of a solution the the so-called "sewer rat" problem.
I say "so-called" because BIPH show no sign of having a plan, or even wanting to have a plan to solve the problem. Instead they want to feed the sewer rat and increase the authorized float by 357%.
Which is odd.
"the rest of your post is simply your opinion and you are
welcome to it."
Most kind of you. I would simply remark that my opinions historically have been backed by facts and have led to predictions that have proven to be remarkably accurate. The same cannot be said for those who have supported this company through thick and thin and continue to do so even when it is manifestly obvious that the "management" are acting in a way directly contrary to the ordinary retail shareholders' interests.
Which is also odd.
I see you newbie guys are following the same script as the FASC adherents, with the market makers' manipulation, evil naked shorts clearly being responsible for the steady fall of the stock, but that the charts are screaming at you to buy, and that only good things are going to happen to Biophan.
Well, guess what?
You don't need to look beyond the facts that these guys have set up an extraordinarily toxic finance deal, which they're looking to fuel by issuing another 625 million shares on top of the existng float (that alone should reduce pps down to less than a third of a penny - just imagine how many shares they'll issue to their "sewer rat" buddies every month when that happens), and that they like to transfer any cash on BIPH's books to private hands such as the mysterious private owners of Myotech and the less mysterious owners of Technology Innovations.
I can only think that's why they won't use their cash to buy back shares and avoid MegaDilution.
The other factor is that while they talk a great game, the only real prospect they have left, the Myotech CSS, is still at least two years away from commercialiaztion, just as it has been for the past several years, and there's zero news on human studies with the device.
There's a reason this stock has fallen by well over 99% in the past couple of years, and it's called the management, past and present, of this sorry-looking money pit.
Not sure what you're getting so upset about. You seem to think you proved some kind of point.
Here's the thing:
"This proposal was adjourned until December 1, 2008 (subject for further adjournment by those attending the reconvened meeting) or SUCH EARLIER DATE as the Company obtains sufficient votes to approve this proposal." [Note the UPPER CASE]
In other words as soon as Biophan gets a simple majority, it will close the vote without any requirement for a further meeting.
Given that we know from the DEF 14A that they are desperate to increase the float by 357% to 800 million shares, and that they can issue up to 75 million shares in the meantime anyway (which you might have hoped would be enough) we can be raesonably confident they won't actually need to hold the reconvened meeting.
Clear enough, with or witout EXPLANATORY NOTES, I would have thought.
You chaps need to deal with the real issues, such as quite why Biophan are so keen to issue these extra 625 million shares (after all, even you seem to think it's not a great idea) when they have $5.6 million in cash they could use in various creative ways to get out from under these so-called sewer rats.
I think we can all agree the only people who will benefit from this proposed MegaDilution are the sewer rats and those who are short on this stock (one and the same, I suspect) - so why are BIPH so keen to wreak this havoc on their long-suffering shareholders, and why don't you newbies address this particular problem?
And are you seriously proposing that this dilution won't happen? Because if so I have a particularly attractive bridge that you might want to consider purchasing from me.
PS You probably only need to post one reply with the same content, unless of course you're trying to bury my posts. TIA.
In the interests of maintaining my rep for "full-on negativity" (which incidentally has also led to me being pretty much spot on with all my predictions for BIPH so far) let me point out a couple of things about this part of the "Current Report":
"At the Company’s annual shareholder meeting on September 12, 2008, shareholders were asked to approve a proposal to amend the Company’s Articles of Incorporation to increase the number of authorized shares of common stock to 800,000,000. This proposal was adjourned until December 1, 2008 (subject for further adjournment by those attending the reconvened meeting) or such earlier date as the Company obtains sufficient votes to approve this proposal."
Will they get approval?
We are led to understand from those who attended the Special Meeting that the vote was in favor of the issuing of the extra 625 million shares, but a simple majority of outstanding shares was not received. The current adjournment is to allow them to garner the few million extra shares they need to push the vote over the top into a simple majority.
They seem pretty confident they'll get these votes, and I believe them.
Why do I believe them?
Because at the beginning of October and November, and at any point in between should they choose so to do, Mr Lanzafame and his colleagues will be issuing tens of millions of shares to their "sewer rat" friends at Iriquois. As soon as those common shares are issued they become eligible to be counted in the vote.
Given that there are currently 175 million common shares out there, and the current authorized float is 250 million, they have up to 75 million shares they can issue in order to gain that majority they claim to "need".
Guess which way these shares will be voted, before they get sold off at rock bottom prices, just as they have been for the past several months (as those recently arrived chaps who are chartologists will doubtless have spotted)?
In other words, it's not a question of "if" they get approval, it's a question of "when". That's because they can literally issue the votes they need to get a simple majority.
Does anyone seriously think that this is not what will happen?
I still don't understand why Biophan don't buy their own shares in the open market, and use those to pay off the "sewer rats", while simultaneously indicating to the loyal retail shareholders that they do believe in this company.
If we're honest, we have to admit that the current plan for MegaDilution of 357% can only benefit two groups of people - the sewer rats and those who are short of this stock.
I believe those "two" groups are actually pretty much the same, but I'm curious as to why Biophan panders to their need rather than to the need of loyal shareholders such as cyberbub0 or palacian.
There's only one reason I can think of for that.
Am I wrong, and if so, why?
"We ALL got it! YES financing sucks! Sooner it gets resolved the better! WE GOT IT!!! Sheeeeesh! MBD"
If that's the case, why do you continue to insist that Biophan is a screaming buy without posting a single specific reason why that should be?
We have heard, albeit from extremely unreliable sources, that BIPH are part way to getting approval to issue another 625 million shares on top of the current float specifically in order to feed the "sewer rat". We know that Myotech CSS remains, as ever, 24-36 months from introduction, and we have had no news on human studies for this device.
The fnancing in place was put there when Mr. Lanzafame was a Director and Weiner was CEO. You and he can't pretend he was nothing to do with it. And they have done nothing to resolve it - quite the contrary.
So why would anyone want to invest in BIPH?
(Trading for those with an exquisite sense of timing and more than their fair share of luck is a different matter, as I've always said. Just don't be surprised when you get stuck with a bunch of shares you have to offload at a loss or are literally worthless. It will happen.)
As for reading the future of this stock in the charts, anyone who has studied the empirical base for these things knows that the evidence in favor of the accuracy of charting is equivocal (at best)for larger more liquid stocks.
It's beyond doubt that charts are irrelevant for penny stocks with no commercial operations.
The major use for charts, as far as I can see, is that they provide a flimsy justification for mo-mo traders to pump penny stocks on MBs such as this one.
How many days of this "the charts scream buy" and "retail/market makers/short sellers are obviously manipulating the pps" nonsense are we going to get before this latest pump and dump crowd moves on, I wonder?
The facts:
Biophan's management are allegedly well on their way to getting the float increased to 800 million shares, representing MegaDilution of 357%.
We know from past history and the DEF 14A filing that they will not hesitate to use these shares to pay the "sewer rats", even though they have $5.6 million cash they couild buy shares with in the open market, obviating the need for further dilution and increasing the value of the outstanding shares at a stroke.
No further news on Myotech CSS, except Ms. Hotchkiss' comment in a recent shareholder communication that it remains "24-36 months from commercialization", as it has been for the past several years.
Something not quite right here.
I wonder what it is?
"Tech, I wouldn't be surprised if they are paid pumps from Iroquois. Remember, they still get their shares at the low of the month so they want price fluctuation."
Correct. You can tell that by the way they counter every reasonable attempt to engage with porper debate by personalizing the post or turning to gross generalitues.
Other questions are, what part is MBD playing in this, and why should anyone believe that the days of dilution and pps decline are over, when even BIPH's supporters claim they're half way to getting the 800 million shares the "sewer rats" want so badly?
"Who's out there watching us?"
I'm led to believe that SEC and a few other interested parties are among those "watching" the activities of this company, this MB and some of its posters.
Still waiting for one or more specific reason(s) why Biophan longs should believe this surfeit of excitement and enthusiasm that's been demonstrated here since the Special Meeting on Friday, even though I've asked very nicely a number of times.
According to one (extremely unreliable, it must be said) source, BIPH's management are already part way to gaining approval for their MegaDilution proposal, and I think we can all guess what another 625 million common shares will do to the BIPH pps.
I'm also intrigued by the suggestion that Biophan's management is somehow new: John Lanzafame is a long-time associate of (the now much-reviled, but once hero-worshipped) Michael Weiner, at both TI and Natural Nano. The fact Mr. Lanzafame drew down a $100,000 bonus last year, when BIPH continued its lack of progress on Myotech CSS while its pps went to hell in a handbasket certainly suggests same old, same old to me.
Why am I here?
Gee, willikers, MBD, you haven't been paying attention when I've answered that question a myriad times before.
Here comes the answer yet again. You'd better bookmark it, so you don't need to keep asking it.
I have several hobbies. One of my hobbies is to examine likely candidates for scam stocks. I enjoy the challenge of combing through their SEC filings, looking at their financials using various forensic tools like Benford's law, seeing who's supporting them on MBs
(there's a hard core of posters who post vociferously on such stocks, using a variety of aliases, but clearly the same people. They can never actually post anything positive about the stock they're promoting, just attack those who are more discerning about the stock in question and post positive statements with no logical or empirical arguments)
and predicting their next moves - both the posters and the companies, that is.
The fact that I have had many messages from folk who've read my posts on MBs like those for Viragen, Aptheon, Pharmos, Natural Nano, Pro-Pharmaceuticals, Atlas Mining, Intrepid and Green Energy Resources who've thanked me for encouraging them to do due diligence that's saved them thousands of dollars is merely a pleasant side-effect. The less welcome threats from those who find the First Amendment of the Constitution an unwelcome and dangerous document are less welcome, but also less frequent and will not succeed.
Hope that answers your question.
Now, what was it specifically about the prospects for Biophan that make you so optimistic?
TIA.
BTW, as you probably know, I don't work for a hedge fund. If I did I would have been urging everyone to vote for the MegaDilution.
It has been claimed that the MegaDilution was not approved. If that's so, then let's hope Biophan's manamgement hear what their shareholders were saying to them, rather tha trying to hold the vote yet asgain, and doubtless spending another $50,000 in the process.
After all, that $50K would almost pay a month's worth of interest to the "sewer rats". Shouldn't that be the priority, together with actually advancing the Myotech CSS into clinical studies?
"It looks like the selling/dilution that's taken it from .20 - .30 range down to where its at now, has finally ended"
Hello!?
Today, unless I'm much mistaken, at the urging of cyberbub0 and others, the Special General Meeting authorized an increase in the outstanding float to 800 million shares.
The current number of issued shares is 175 million.
The new potential float represents 357% dilution (or MegaDilution, as I like to think of it) against the current float.
Biophan's management have shown that they would rather dilute their existing shareholders than use the $5.6 million cash they have on hand to service their interest payments - that was their admitted reason for requesting the extra 625 million shares - and therefore you can be 100% confident that they will use all of these newly minted shares over the coming weeks and months.
Therefore I think your belief that dilution is over in mistaken, and lacks any sensible rationale.
I await any convincing reason, just one, to substantiate the highly positive sentiments that have been expressed about Biophan's future on this message board this evening.
Frankly I'm amazed that, in the face of the facts, anybody can believe that the future for Biophan stock is anything other than dire, but I'd love to hear why anyone should think so.
TIA.