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RE: Shorting Stocks on Grey Sheets
At least one site thinks you cannot:
"Grey Sheet stocks that do have a public offering of shares cannot be shorted. This is a benefit in that unreasonable plunges in share values are minimal because broker-dealers and other investors and scam artists cannot short the stocks by law."
https://www.extraordinaryinvestor.com/grey-sheets.html
What am I supposed to be watching exactly? And why?
There is a card game called poker (e.g. Texas Hold'em). In it players sit around a table and they take three cards, then wait for "the turn" (4th card dealt) and maybe risk losing it all on "the river" (last card dealt). During this time contestants observe physiological signals from other players (a twitch, a slight grin, eyes opening slightly, hand trembling, nervous feet shuffle, clearing of throat, etc.) to see what those expressions may tell them about the player, and what the player might be expected to do next or "next time." You can raise, you can call - all in relation to what another player does.
The SEC played its hand too early, if it was in bed with BP - unless there is more to the drama - as now seems likely.
You asked "why did he wait" - it's a gambling strategy - maybe you don't raise on the turn, but at the river, or maybe you raise right away to get people guessing. I don't know if Berman is a player, but he is definitely playing his hand with DECN. The SEC made a move, he waited . . . now he makes a move . . . perhaps more, who knows. Maybe the SEC will "call" his hand. Maybe a Senator will "raise" the SEC. We have time.
Smart players don't reveal the strength of their hand for nothing. Raise the pot.
And, he's never been suspended by the SEC before either.
You watch the other players.
Plus, it's on Twitter, where all the real news happens first.
Wonder why he waited until he talked to Dr. Max to mention FEMA. What was it, 12 press releases in a month? And no FEMA?
Rational / Irrational?
Does not matter at this point. Unless there is some devastatingly negative news that comes out before Friday a.m., predictions of "the big crush" will be shown to be woefully misguided. Of course, there is no way anyone could have seen this coming . . . right? I mean, Berman never mentioned any media contacts or anything did he? Oh, wait, he did! But it was just Bermanese for "I have my mouth open so I am lying" - right?
No, the CBS report is not the final solution to the Decision Diagnostics' problems. Much larger ones are probably happening via text and phone right now. But, I'd bet at least one or two companies are on the phone with the CSO about now, saying, "really? can this work?" And somewhere out there is someone who has been following the development of E.I.S. for virus testing - someone who had a theory . . . did some tests . . .has a file . . . and we will know more about them soon enough.
They didn't do their own investigation to see if it actually worked
We had to wait to see if the SEC did THEIR investigation, now others get to wait to see if CBS did theirs! A battle of the 'three-letter-acronyms' LOLOLOL
Do you suppose CBS New York and Dr. Max Gomez are aware
I will let you know if they respond to my email that I sent them a few hours ago.
I think they probably do.
the Queen of England 'claims' to be mermaid, that would be newsworthy
What Will We Hear First?
That Dr. Max is a paid lackey?
That CBS is in cahoots with Berman?
That the tests, even if the data comes back rock solid, still will not work?
That even if it is all true, Berman is still a liar and a "Bozo"?
Or some similar high-quality thriller with flowing rhetoric and impeccable facts argued with flawless logic?
Why would the company submit a second kit for the PEUA
THE FOUNDATION BEGINS TO CRUMBLE
Now, time will do the rest. Maybe Berman has pulled off the upset of the year . . .it's at least a little more likely than it was a little earlier. More news, more facts, at some point the truth, whatever it is, will be undeniable.
CBS will have done its DD
I emailed them with just that question, assuming it was in fact done, but curious as to their response.
Sounds like the at-home test kit
"It works by taking a finger-prick drop of blood and, through sophisticated micro-processing, arrives at a result within 30 to 45 seconds. The device costs $15 and the test strip kit costs $30. That’s why companies are interested."
https://newyork.cbslocal.com/2020/05/05/coronavirus-covid-19-decision-diagnostics-testing/?_gl=1
Berman says he was contacted by several large companies and FEMA to adapt it’s well-known diabetes testing technology into both a professional healthcare version and a home unit.
Can't imagine who might have reached out to lil'ol KB and asked him to think outside the box on this one.
https://newyork.cbslocal.com/2020/05/05/coronavirus-covid-19-decision-diagnostics-testing/?_gl=1
There's one claim substantiated:
"On April 13, 2020 the company engaged a publicist and a lobbyist. The publicist has engaged three media outlets, who have shown great interest in the story of GenViro! Swift and want to interview DECN CEO Berman. One has already run a short introductory description of the product and is preparing a longer, more involved segment and has already accepted a number of visuals from us for the report. It is interesting to note that the media outlets are well versed in Covid-19 testing methods and are excited about GenViro! Swift not just for its promise but also because it is so different and so much faster to report than other methods currently available."
https://www.accesswire.com/586571/DECN-To-Submit-Second-EUA-Application-For-Covid-19-15-Home-Testing-GenViro-Swift-Kit-Reports-Huge-Response-From-Fortune-500-Companies
https://newyork.cbslocal.com/2020/05/05/coronavirus-covid-19-decision-diagnostics-testing/?_gl=1
The whole downloading of that PDF was video screen captured through jing,
L.A. Times reporting "mutant" virus - moving target emerging for testing
https://www.latimes.com/california/story/2020-05-05/mutant-coronavirus-has-emerged-more-contagious-than-original
a civil action, which does not require "proving beyond a reasonable doubt"!
Keith Berman's share price pumping BS!
In 2015, it was believed that E.I.S may be able to compete with PCR (RNA) in terms of accuracy.
"The results nevertheless show that the proposed nonlinear impedance spectroscopy method may achieve a sensitivity comparable to that of PCR and immunodetection systems. The response time to sweep the frequency for each measurement was about a few minutes, which will be enough fast for the continuous monitoring of environment. One of the large remaining issues is to evaluate the detection and identification ability of some specific viruses from the heterogeneous mixture of crude sample. That is the universal challenge for any types of biosensing methods, and also the future work to put this method into practical use."
https://www.frontiersin.org/articles/10.3389/fmicb.2015.00940/full
Assuming, five years later, that more research, published or not, has been ongoing - who knows where the issue stands now? Maybe someone took up that "universal challenge"!
I read somewhere where the SEC wanted Berman to admit guilt, and he wouldn't.
This show just keeps getting better and better! Of course he wouldn't! Of what is he guilty? Proven beyond a reasonable doubt? In a court of law? Nah, just a ten-day suspension that has given him time to get his proverbial ducks all lined up . . .
DECN - FDA Conversations - from PRs
3/11 - The company has retained FDA counsel who is in the process of securing expected emergency waiver for diagnostics and diagnostic devices.
3/16 - We are awaiting release of blood samples from previously infected people in Daegu, Korea, so that we can complete testing and make a final report to the U.S. FDA so that we may secure our Emergency Waiver. In the meantime, all other requests made by the FDA will be met this week and next. Further, we will engage in the EU with administrators of the ISO standard CE regulatory process this week.
3/23 - Today, DECN announces that the company, through its advanced development team in Korea, have finalized the configuration of the GenViro! Swift Kit test strip that will go into production just as soon as the FDA grants emergency status to the DECN product.
3/25 - Today, DECN announces that the company, through its advanced development team in Korea, has arrived at a second Covid-19 test methodology, a modified Serology method, that at the completion of documentation, be put through the FDA Emergency Waiver (EUA) process.
4/6
• The application was filed on Friday 4/3/2020 late in the afternoon, acknowledged less than three hours later, and assigned for EUA review on Saturday 4/4/2020. There have already been several contacts between the FDA EUA review group and the company's FDA counsel.
• Mr. Berman continued, "Our Korean partners, my primary consultant, who came out of retirement to create the design drawings and commentary, our FDA lawyers, and our own employees and those of our Korean partner jumped all over our efforts in what became a fundamental initiative. The application we filed with the FDA last Friday is our first fulfillment of these efforts, after weeks of internal and external discussion, planning, designing and redesigning and finally completion of the method design. If April 3 is the date where we drove our product stake into the ground, then the new product was conceived, designed and readied for FDA EUA review in approximately 45 days. Our method is unique, minimally invasive, doesn't require a painful nose swab, and true to its trade name -- Swift."
4/7
• DECN received the Pre-EUA Acknowledgement and device serial number on Saturday, April 4, 2020. Later on this same day FDA counsel had several exchanges with FDA EUA staff. In one of those exchanges, the FDA provided Guidance for our final product testing.
• As early as Saturday April 4, it was clear that the FDA review staff was aware that our methodology was different than those slower and older methods that had received FDA EUAs, or were in review. Although the testing requested will be rigorous, it appears that testing will require 30 known Covid-19 positive samples and 30 known Covid-19 negative samples, all samples based on venous blood. The company is now looking to contract with a hospital or commercial laboratory to complete this testing.
• Mr. Berman continued, "Upon receipt of these acknowledgments from the FDA, we contacted our partners in Korea, and provided specifications for all of the major components required for the GenViro!™ kit that are not used or a part of our GenUltimate! TBG product. Today our partners began ordering these components to begin build, assembly and bench testing for the post-prototype version of GenViro!™, Point of Care kit. These activities will become part of the completion of our Design Specifications file and Design History file for Genviro!™, and are necessary components of all FDA cleared medical devices. "
4/23
• Subsequent to this grant, we have had two long conversations with FDA staff and management, the first of these discourses between our FDA counsel and FDA staff, the second conversation, on April 14, 2020, between our FDA counsel, DECN management and DECN technical and product development professionals. The purpose of these calls was to clarify and differentiate our GenViro! Swift kit, Pro Version, from the myriad of antibody/antigen methodologies that our product has been inaccurately compared to, primarily in public, but not scientific forums.
• Discussions with FDA staff and management have focused on the differences inherent to our Genviro! Swift product, those differences that add to GenViro!'s value in use. For example the FDA is concerned with reagent and sample contaminants that may be present during testing, primarily because the samples taken from a patient using current methods must travel from the site of the patient to a laboratory for assay. This travel at times takes hours, sometimes days. GenViro! Swift does not make use of any reagent to provide a result. Therefore there will be no sample contaminant. Also, the patient sample it makes use of, a small drop of blood, does not have to travel. In fact the assay and answer are provided on the spot, in 15 seconds, right in front of the patient. We believe we have completed discussions and have come to an understanding with the FDA on all of the testing required to receive the EUA. We plan to engage a specialty reference laboratory to complete this testing in the next 10 days. Testing should take about a week.
investors should be rooting for Berman to win his purported action
I would bet that most are. He has apparently gone silent (not a bad idea given the situation), excepting the 'inside' information posted on Twitter and a few other sites. I expect we will hear from him on Thursday evening or Friday morning.
volume will decline with time
Do you think DECN will file to get back on the OTC?
lololol. broker dealer. a dealer for the broker. a broker dealer is a market maker.
FINRA Form 211:
"f. Is the quotation being published or submitted on behalf of any other broker-dealer?
Yes No If yes, what is the name of the broker or dealer"
If broker-dealer refers only to the dealer for the broker, seems they should have just asked for the dealer's name, no?
Looks like the confusion has a home.
they don't want to take the responsibility for a company
Nothing in the 211 requires the submitter to 'take responsibility for' the company for which they are submitting the request. The company reaches out to them and asks that they submit the form:
"An exchange delisted issuer that wishes to be quoted on the OTCBB should contact their market makers to request that they complete a Form 211 for review and processing."
https://www.finra.org/filing-reporting/market-transparency-reporting/otcbb/faq#600
Supplemental information (from 211)
a - Describe the circumstances surrounding the submission of this application. Include the identity of any person(s) for whom the quotation is being submitted and any information provided to your firm by such person(s).
b - Has the Issuer or its predecessor (if any) been subject to a trading suspension order issued by the SEC during the past 12 months? If a trading suspension order has been issued, provide a copy of the order or of the SEC’s public release announcing the trading suspension order
c - Has the Issuer or its predecessor (if any) been subject to a trading suspension order issued by the SEC during the past 12 months? If a trading suspension order has been issued, provide a copy of the order or of the SEC’s public release announcing the trading suspension order
Even CEO Keith Berman has endorsed the FACT DECN's impedance-driven COVID-19 test kit does NOT perform a serological assay!
Ah, Berman got one thing right! Maybe there are other FACTS that he got right. . .
Based on your learned opinion, what type of test is DECN submitting for FDA emergency use authorization?
LOL! SELF-ADMINISTERED HOME TESTING AIN'T GONNA HAPPEN!
Oh, I'd bet it does . . . it's the future of all technology - with the guidance of A.I. - to be our best selves! You might want to take a long, serious look at Transhumanism (Hplus and Singularity) They will give us (if they have their way) self-diagnosing/repairing bodies (sleeves). You can giggle if you choose; they are not, and they are well-funded and well-placed world-wide.
Maybe one or two more days before we go parabolic for at least a few minutes . . . steady upward . . . higher highs / higher lows ...
I'm just surprised that this is not trading higher volume yet. Normally, when traders even sniff an opportunity this valid, they are all over it like a duck on a June bug . . . hmmm.
Successful products and large revenue streams?
Berman's original estimation of sales was Sept 2020, which I think is accurate, but under the FDA guidance, if the test is determined to be a serology test, it can be manufactured and distributed immediately only subject to certain labeling restrictions. That Berman is doing the EUA suggests one of two things: either he wants the additional affirmation that comes with the EUA, or the test was not determined to be a serology test. I'd bet the test (if it was validated in S.Korea) has them flummoxed a bit - and as we all know, Berman's language did/does not make understanding what he is doing very easy! There is little doubt that if the test is validated and the EUA granted, the "large revenue stream" will take care of itself. It would be a game-changer for the "back-to-work" market for sure. And, I think that is it's value - not to mention what it could do if we in fact do see a 2nd and 3rd wave of this virus or it's mutant children.
Yes, indeed! Now, we just need to see what kind of test kit the honorable folks at Decision Diagnostics have created for us. According to PRs, validation testing should be on-going now (with plenty of specimens from all stages of infection, including post-symptomatic). So, we wait with bated breath . . . and keep on trading other stocks in the meantime!
What use us a test that only works 10% of the time???
Importantly, all of the 6 patients with detectable viral RNA in the blood cohort progressed to severe symptom stage, indicating a strong correlation of serum viral RNA with the disease severity (p-value=0.0001).
"to manufacture up to a billion doses per year "
They have to make exactly one billion otherwise its a fake PR. Upto means exactly one billion right just like upto 525 million means that.
UNTIL THE ABOVE THREE ITEMS HAVE BEEN ADDRESSED, DECN's COVID-19 INITIATIVE IS NOTHING MORE THAN CEO KEITH BERMAN's SMOKE & MIRRORS!
I would guess he is worried about law enforcement.
Au contraire! There are hundreds of penny stocks trading on the OTC that are not labeled "Caveat Emptor", while accompanied by the skull & cross-bones symbol.
penny stocks trading on the OTC that are not labeled "Caveat Emptor"
the dumping of 53 million shares, without a commensurate return in value
Let's say 53M shares were dumped.
Let's say DECN was really working on a really fast diagnostic test for some affirmation in COVID-19
Let's say the stock price moved from around .02 on 3/3 to a high of .50 on 4/23
Let's say that that 25X move counts as "commensurate return in value"
Or let's say someone got in at .10 or even .25 - their shares had most assuredly increased in value, as the company was working its way through the labyrinth of regulation and rhetoric (which God help the FDA if Berman wrote his own application for the test kit - the rhetoric alone was probably responsible for much of the "continued conversation" - lol)
So, maybe the SEC will want to know why the big selloff almost simultaneously with the 4/23 PR, which, if people had been hoodwinked by earlier PRs would most-definitely continued the hoodwinking and would not have raised alarm bells. It is actually one of the better-worded PRs he released.