Django of Securities Fraud
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Some reading on Cancer.im and Viratech the Software Company that developed the www.cancer.im Social Knowledge Wiki.
1. The Journey That Became Cancer.im https://www.linkedin.com/pulse/journey-became-cancerim-chris-ryan
2. The Importance of Being Proactive https://www.linkedin.com/pulse/cancer-importance-being-proactive-chris-ryan
3. Cancer.im Social Network Roadmap Released https://www.linkedin.com/pulse/cancerim-social-network-roadmap-released-chris-ryan
4. Cancer.im Releases its Rest API - https://www.linkedin.com/pulse/cancerim-releases-its-api-chris-ryan
5. Cancer.im announces the Dr. Michael Nelson will join its Medical Advisory Board - https://www.linkedin.com/pulse/cancerim-inc-announces-dr-michael-nelson-join-its-medical-chris-ryan
6. Founder of Wellness.com, Donald L McGeee MD PHD ABEM FAAFP Joins Cancer.im, Inc. Medical Advisory Board https://www.linkedin.com/pulse/founder-wellnesscom-donald-l-mcgee-md-phd-abem-faafp-joins-chris-ryan
7. Viratech Delivers First Social Knowledge Wiki to Cancer.im https://www.linkedin.com/pulse/viratech-delivers-first-social-knowledge-wiki-cancerim-chris-ryan
8. How Do We Cure Cancer - Part 1 - The Real Problem With Health Insurance https://www.linkedin.com/pulse/how-do-we-cure-cancer-part-1-real-problem-health-insurance-ryan
9. The Importance of Open Source Cancer Research - https://www.linkedin.com/pulse/importance-open-source-cancer-research-chris-ryan
How Do We Cure Cancer - Part 1 - The Real Problem with Health Insurance
by Chris Ryan https://www.linkedin.com/in/cancer
https://www.linkedin.com/pulse/how-do-we-cure-cancer-part-1-real-problem-health-insurance-ryan
A wise Jewish Rabbi once pointed out what seems on reflection to be stunningly obvious: “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other.” Yet for years public health insurance companies have convinced Americans that Jesus was simply wrong. You can have your cake and eat it, too. You can have it both ways. And yes, Virginia, you can deliver quality, affordable health care to the consumer while generating a profit for your shareholders.
The American health insurance industry may well have accomplished one of the greatest triumphs of rhetoric over common sense in recorded history. They have successfully convinced the public, and perhaps even themselves, that not even the people’s own government cares about their health as much as they do. At the same time, they express openly in the strongest terms their commitment to deliver increasing value to their shareholders. [1]They believe – and want America to believe – that they can serve two masters, and do so with integrity.But the reality of this impossible task is finally catching up with the industry. One of the tools public insurance companies use to hide the depth of their corporate split personality crumbled under the weight of a significant Supreme Court ruling several years ago. [2] Now the Securities and Exchange Commission (SEC) rules created by the Sarbanes-Oxley Act of 2002 are forcing insurance companies to lay their cards on the table, as it were, and openly admit what common sense should have made obvious: they have been attempting for years to serve two masters. Like Archie in the classic comic book series, they must now choose between Veronica and Betty. The days of “playing the field” are coming to an end. The wife is about to meet the mistress.
The Fiduciary Duty of an Insurance Company
The trouble for health insurance companies begins with the very essence of what it means to offer “insurance.” When most people think of a business, they picture in their mind a company offering a good or service who, if they are innovative enough and committed enough, will outsell their competition. Such a company cannot rest on their past accomplishment in a capitalistic system, however. There is always another company that may be building a better product, or offering a better service for less, who may ultimately put them out of business. Such a system thrives on competition, encourages innovation, and offers good choices to the consuming public.
It is tempting to view insurance as just another good or service to be provided in the marketplace. Do insurance companies really need their own special set of rules under which they must conduct business? Why not allow insurance companies to freely compete under the same rules that apply to, say, lawnmower manufacturers? Competition between lawnmower manufacturers gives the consumer more choices and in theory encourages the manufacture of better lawnmowers; would not competition between insurance providers give consumers the same variety of choices and encourage better protection for the insured?
The analogy is flawed, however, because there is a fundamental difference between lawnmowers and insurance. The difference becomes most apparent when you consider what happens when something goes wrong with the lawnmower. Suppose you bring it home, and within days discover the engine is faulty, that the wheels fall off continually, or that the blade is about as sharp as the edge of a 2 by 4. What remedies can you pursue? You can return the machine to the store and demand a refund, or an exchange on another machine. Either way, you are out no more money than you were before you made the purchase. You may have lost some time and suffered some aggravation, but little else.What happens, however, if you find that you have purchased faulty insurance? What if the insurance company, for example, is not willing to fulfill the terms of the policy you purchased? You may have lost your automobile, your house, or be facing an expensive surgical procedure. You do not have the option of returning your insurance policy for a “refund.” You have done more than given them a check for $200 in return for the promise, with a little effort on your part, of a mowed lawn. You have entrusted the insurance company with money up front so that, if the unfortunate should happen, they will be there to back you up.
This is why insurance companies, under both common law and, in many cases, the law of the land, have to play by different rules than other businesses. Like banks, insurance companies are said to have a “fiduciary duty” to their clients. Fiduciary comes from the Latin word fides, which translates as “trust.” Those who have purchased insurance from a company have placed much more trust in that company’s promises than they would have to place in a lawnmower manufacturer. Insurance companies therefore fall under a category of businesses known as fiduciaries; they have a special trust relationship with their clients, who have entrusted them with property in return for future protection. The Random House Dictionary defines a fiduciary as “A person to whom property or power is entrusted for the benefit of another.” [ii] Webster’s Third New Dictionary explains that a fiduciary’s good conscience “requires one to act at all times for the sole benefit and interests of another with loyalty to those interests.” [iii]
The insured have done more than “purchase a service” from an insurance company. They have in fact given that company a certain power over them. An insurance policy is not a contract. Both parties to a contract are seeking their mutual benefit. Fiduciary relations, on the other hand, are designed “not to satisfy both parties' needs, but only those of the entrustor.” [iv] In other words, the entrustor or insured is made promises by the insurance company, but not the other way around. It may seem that the premium payments that the insurance company receives from the one it is insuring is the “tit for tat” of the arrangement. But in actual fact, on closer examination, the relationship between insured and insurer is seen to be inherently unequal.
The insured, or entrustor, pays money upfront to a company with only a promise of aid in the future under specific circumstances in return. The insured are not just giving the insurance company money; they are vesting them with power. The amount of power depends on the extent which the insured, or entrustor, can leave their insurance company, retrieve their property, and choose another policy. [v] In the end, it is the entrustor or the insured that always stand to lose more in their relationship with the insurance company than the other way around. [vi]
Because of the fiduciary duties insurance companies owe their clients, they have always been the subject of special legal regulation. Those who adhere openly to these regulations, while they may find their freedom to conduct business limited, gain a reputation for honesty and trustworthiness.[vii] Unlike lawnmowers, where cost and quality may be the chief selling points, honesty and trustworthiness are what keeps insurance companies in business. Lose these in the eyes of the public, and your business could evaporate.
If all this is true of insurance companies in general, is it true of health insurance companies in particular? Do health insurance companies have, and do they recognize, a fiduciary duty to those they insure? Health insurance companies fit the definition of a fiduciary in three ways; by the way they practice and operate, by the way they portray themselves, and by the fact that the courts have concluded that they are. [viii] There is no getting around the fact that health insurance companies owe their policyholders “a high duty of care.” [ix] In Hartford Accident & Indemnity Co. vs. Michigan Mutual Insurance Co., the courts ruled that:
It is well established that, as between an insurer and its assured, a fiduciary relationship does exist, requiring utmost good faith by the carrier in its dealings with its insured. In defending a claim, an insurer is obligated to act with undivided loyalty; it may not place its own interests above those of its assured. [x]
Enter the Mistress
But health insurance companies are not only beholden to their policyholders. There is a mistress in the background to whom health insurance companies also claim loyalty: their stockholders, and their bottom line. Of course many health insurance companies would suggest that the relationship is more akin to bigamy. Can a company not practice “big love?” Can it not be possible that the health insurance industry has found the secret to being able to serve two masters equitably?
First of all, there is no ignoring the fact that most insurance companies do in fact have a fiduciary duty to their shareholders. Under law, all officers of a corporation have two duties – a duty of care, and a duty of loyalty – to uphold. The duty of care refers to the officers’ responsibility not to act negligently in the performance of their duties. The duty of loyalty requires that they place the interests of the corporation – and its shareholders – above their own interests. [xi] Any officer that without thought for the corporation’s future or out of interest only for him or herself drove the business into bankruptcy would be guilty of breaching both their duty of care and their duty of loyalty.
But a corporation’s duty toward its stockholders may not be nearly as strong as an insurance company’s duties toward its policyholders. There are many examples in law of corporations overriding the concerns and desires of their stockholders – and their stock prices – to pursue more important aims for the corporation. Consider just a few examples.
First, it is in no way out of the ordinary for directors of a company to make decisions that unambiguously favor those to whom money is owed, but negatively impact stock prices. When a corporation files for bankruptcy, for example, the value of equity in the business is almost immediately destroyed, to the benefit of creditors. [xii]In this case, the duty owed the shareholders is overridden in favor of those who hold the corporation’s debt.Second, “in a recapitalization, the board can, by creating a shell corporation with a new financial structure and then merging the old firm into the shell, eliminate a particular class of stock.” [xiii] This in no way benefits the stockholders, but can benefit the firm itself.
A third case in point is the case of Shlensky vs. Wrigley, having to do with the installation of lights at Chicago’s Wrigley field to permit the playing of night games. The plaintiff argued that by not installing lights (which at this point existed at every other major ballpark), the value of the Chicago Cubs baseball team was not being maximized. Those on the board of the company who defended the inaction admitted that their decision not to install lights probably hurt stock prices. They based their decision to keep the park dark on the preferences of Wrigley’s majority owner, who believed fervently that baseball was a daytime game. The board was not in the least bothered by the fact that their decision to leave Wrigley in the dark did not maximize stock value. [xiv]
In light of these and other examples, defending the notion that directors owe their duty solely to shareholders seems harder to defend today. [xv] Shareholders, in other words, are a fickle mistress. Yet many health insurance companies seem to be more devoted to this mistress than those to whom they are legally “married,” their policyholders. Note, too, that all of these examples are of regular businesses. Insurance companies, as has been pointed out, must operate differently. Their policyholders are more than mere “customers” or “clients.” They are entrustors to whom a fiduciary duty is owed.
Having Your Cake and Eating It Too
“But,” health insurance companies sometimes insist, “improving our bottom line benefits both shareholders and policyholders. By reducing the cost of health care we can both improve our bottom line and lower the cost of insurance to our policyholders. Everyone wins!”
On its face, this seems like a reasonable point. No one can argue that the cost of health care, apart from insurance, is increasing exponentially. The chief reason for this increase in cost is the increase in technological innovations that have made treatment for a disease vastly more effective – and expensive – than they were in the past.
The modern health insurance industry was born in the 1930s, during the Great Depression. The first health maintenance organization may well have been the managed care set up by Henry Kaiser, the industrialist, at the site of the Grand Coulee Dam in Washington State. Kaiser made arrangements with physicians to provide health care for the workers at the dam, which was located in a very remote area far from other treatment facilities. [xvi] The first indemnity insurance plan, called Blue Cross, was started in Baylor Texas in 1929.[xvii] The Baylor University Hospital offered to provide up to 21 days of hospital care for any teacher who could pay the six dollars a year in premiums for the plan. [3]
The first fee for service (FFS) plans which followed the Blue Cross (hospital services insurance) and Blue Shield (physician services insurance) model were usually organized and run by hospitals and physicians themselves. Because payments were made relative to the number of services provided, FFS plans tended to encourage over-prescription of medical services. Doctors ordered too many tests and procedures, which in turn drove up costs. A ‘do-everything’ mentality, regardless of outcome or quality of care, thrived. [xviii]
The steady increase in the number of tests and treatments available, especially through the 1960s and 1970s, further increased the cost of health care. Few individuals could pay for the high tech care now available to them without insurance. But at the same time, the probability that any given patient would need the new and expensive treatments was low enough that insurance costs remained low for a time. [xix]
In addition to increases in the cost of treatment options, there are two other reasons for an increase in the cost of health care which, in truth, have nothing to do with actions on behalf of insurance companies. The first is the demographics of the United States; as the population ages, and the percentage of the overall population over 65 grows, the cost of overall health care increases correspondingly. The second has to do with an increase in lifestyle and environmental diseases. The rate of obesity in the United States continues to increase, owing to a more sedentary lifestyle (less exercise) and more processed foods that lead to increased weight. [xx] Diseases associated with unhealthy living and eating such as diabetes need to be treated over a long period of time, and so in turn lead to a significant increase in treatment costs. [xxi]
Having said all that, it might seem that the increase in health insurance costs is beyond the control of health insurance companies. They are simply victims of circumstance. Yet too often health insurance companies, because they choose to serve their shareholders rather than their policyholders, make a bad situation worse rather than better. In addition to the increased cost of technology, the aging of the population, and lifestyle and environmental diseases, there are three other causes for the rise of health insurance costs. Not surprisingly these all are all connected directly with the profit motive of insurance companies, and not at all with improvements in health care. They are an increase in charges for the same services, providing new but unneeded services simply to gain market share, and striving to identify more and more services as medical, rather than societal, issues. [xxii]
This last deserves some explanation. Take, for example, obesity. The health effects of obesity can be lifelong, and result in a long stream of medical management costs. The issue is at heart a societal problem, and one that could be tackled through prevention initiatives. The cost savings that could result from helping just one person remain fit are significant. Yet the insurance industry often draws political and financial support away from such initiatives. Furthermore, the tendency to “medicalize” certain social problems also serves to increase health care costs for everyone. [xxiii] Not only do health insurance companies not help control these costs, in some cases they can play a significant role in increasing them.
What’s Good for the Mistress…
Health insurance companies still want to convince the public that they can manage their duty to their shareholders without effecting patient care, and that they are in fact a force for good when it comes to quality of treatment and increasing health outcomes. If they manage patient care properly and reduce costs, will that not help bring down insurance costs for everyone? Is not some amount of “rationing of care” necessary to keep costs under control? [4]
This may be true, if the motive for the rationing was purely to benefit the policyholder. The rationing could then even be construed as the insurance company upholding its fiduciary duty to the insured. In fact most health insurance companies, when explaining the rationale behind rationing care, usually couch it in terms of “reducing unnecessary care” and “improving quality of care.” [xxiv]
If that is the case, then why has there been such subterfuge when it comes to the insured pressing insurance companies with claims that they have breached their fiduciary duty? In other words, why have so many health insurance companies hidden behind one federal statute in particular to protect themselves from claims they have breached their duties?
That particular law is the 1974 Employee Retirement Income Security Act, also known as ERISA. The law was passed to set “minimum standards for most voluntarily established pension and health plans in private industry [and] to provide protection for individuals in these plans.” [xxv] It was a successor to the 1973 Health Maintenance Organization Act. One of the key features of that act was to recognize cost containment measures as an acceptable and appropriate part of health insurance. [xxvi] Like many laws, both the MCO Act and ERISA were enacted to serve a laudable purpose: to provide for uniform standards for health insurance plans across the nation. But in so doing, ERISA also made it impossible for states to accomplish one of their primary purposes, the regulation of the insurance industry, including health insurance. Because of ERISA, health insurance companies were able to claim they were exempt from state insurance regulations. [5]
Even worse, courts interpreted ERISA as making many health insurance plans exempt from litigation. In other words, the insured now found they had few, if any, means of addressing grievances against their health insurance companies. The end result was an increasing shift in duty within insurance companies away from care of the policyholder to the considerations of the stockholder. One legal writer has pointed out that:
…as the courts recognized ERISA preemption of both state tort lawsuits and state regulation dealing with MCO control of medical decisionmaking, ERISA MCOs became more ruthless in their cost cutting and less concerned about the quality of care. [xxvii]
One example involved a case in Lancaster involving an 11 year old child suffering from headaches. The child’s parents had health insurance with the Kaiser Foundation Health Plan, a plan operated under ERISA. This particular plan provided a financial incentive to primary care physicians to not refer patients to a specialist. Over the course of five years the child was treated for headaches but without any diagnostic tests actually performed. No neurologist ever evaluated the symptoms. Finally, after five years, the parents insisted on a neurological exam, at which it was revealed that 40% of the child’s brain had been replaced by a tumor. When the parents attempts to sue the HMO, the court claimed there was no breach of fiduciary duty on the part of the insurance company. They rejected the parents claim, stating that: "there is no remedy against an ERISA plan using an improper incentive plan or even hiding the incentive plan from its patients." [xxviii]
If health insurance companies are simply trying to improve service to their customers, and the constant evasion of regulation by hiding behind ERISA is simply a misunderstanding, how do the insurance companies explain their rescission of policies? Rescission is a process whereby insurance companies purposefully seek out policy holders whose policies can be “dropped.” These policyholders are, of course, those whose medical expenses are usually growing and who have become a liability to the profit of the company. The justification for the rescission is usually found in a patient’s having neglected to disclose some previous illness, but could also be something as trivial as a form that went unsigned, or even a misreported weight or height. In June of 2009 executives of three major health insurance companies were asked by a congressman whether they would “commit…that your company will never rescind another policy unless there was intentional fraudulent misrepresentation in their application.” All three answered with an emphatic, “no.”
If health insurance companies are only trying to improve service to their policyholders when they engage in cost cutting measures, how can it be that the quality of service provided by these insurers continues to drop? Already a decade ago, a study published in the Journal of the American Medical Association reported on the quality of care provided in investor-owned health maintenance organizations vs. not-for-profit HMOs. Their conclusion was that:
Investor-owned HMOs…are associated with reduced quality of care. Although total costs are similar in investor-owned and not-for-profit plans, the latter spend more on patient care. [xxix]
They were not alone in their assessment that the stockholder tends to win out over the policyholder in for-profit health insurance plans. Two other studies showed that for-profit hospitals, for example, end up charging more for treatment, and have higher mortality rates among their patients. One possible reason given for the higher mortality rates at the for-profit hospitals was “limitations of care that adversely affect patient outcomes.”[xxx] In explaining possible reasons for the higher costs, the researchers said that:
The likely explanation is the necessity to generate revenues to satisfy investors, a requirement absent in private not-for-profit hospitals. Private for-profit hospitals are also burdened with a 6% absolute increase in the proportion of hospital spending devoted to administration as compared with private not-for-profit hospitals. Further, executive bonus incentives are over 20% higher at private for-profit than at private not-for-profit hospitals. [xxxi]
The End of the Affair
Despite their many protestations, it would seem that health insurance companies have clearly chosen which master they will serve, and that master is not the policyholder. In trying to conceal this fact from policyholders, they have ended up also doing a disservice to their stockholders. Perhaps more than a disservice: health insurance companies are now running dangerously close to the line of illegality, and may in fact have crossed it outright. Bigamy is, after all, illegal in this country. The current state of case law and SEC rules has now made “corporate bigamy” equally illicit.
First, the ability of insurance companies to hide behind ERISA came to an end with the 2000 Supreme Court case Pegram vs. Herdich. While the court decided in this case for the health insurance company, the decision greatly reduced the immunity of health insurance companies from litigation. In short, the Supreme Court decided that “an ERISA MCO is protected from liability when making a pure eligibility decision, but not in the case of a pure medical treatment decision or a mixed eligibility-medical decision.” [xxxii] According to the decision rendered by the justices, a health insurance plan is within its rights to deny coverage to a patient if – and only if – the policy explicitly states that such coverage is not included in the plan. But in every other circumstance where coverage is denied, the denial of care could be considered a breach of fiduciary duty, for which the company can now be held liable. This was, if you will, a kiss between mistress and master caught on camera.
Then came the Sarbanes-Oxley Act of 2002, which forced the Securities and Exchange Commission to enact many new reporting rules for corporations. One of these rules, seemingly innocuous, states that the financial disclosures of any public company should:
…provide investors with insight into the overall magnitude of a registrant's off-balance sheet activities, the specific material impact of the arrangements on a registrant and the circumstances that could cause material contingent obligations or liabilities to come to fruition.[xxxiii]
What does this mean? First of all, because of Pegram vs. Herdich, all health insurance companies can be held liable for breach of duty if their denial of care stems from a medical or mixed medical and eligibility decision. The possibility of lawsuits because of a breach of care is now a contingent liability that must be accounted for in a health insurance company’s filings with the SEC. Insurance companies must report to their stockholders as well as to the SEC their duty to their policyholders, and what that might mean for the company’s bottom line. Investors will be reminded that a health insurance company is no mere widget manufacturer: they are in a business where they owe a “high duty of care” to their clients, and have a fiduciary, and not merely a contractual, obligation to them. The affair is out of the bag, and both spouse and mistress will now meet out in the open for the first time.
This should lead stockholders and other interested parties to ask the obvious question: is this contingent liability being disclosed by health insurance companies? Are they setting aside funds off their balance sheets for the possibility of failed law suits? Are these companies realizing that policyholders may, at long last, get their day in court? A close perusal of the audited statements submitted by these insurance companies to the SEC, however, will find no such disclosures. Should this be so surprising? No husband, confronted by his wife with evidence that he’s had a dalliance with someone else, will readily admit to the fact. He’ll do his best to hide the truth for as long as possible. The husband of the scorned wife knows that if the she discovers the full extent of his unfaithfulness, he stands to lose much: a messy divorce proceeding where the wife can demonstrate she is not at fault can lead to hefty alimony payments, the loss of property and investments, and more. The situation is similar for the officers of health insurance companies. Their compensation packages are tied directly to their company’s profitability. [6] Their company’s profitability is, in turn, tied to keeping the true nature of the conflict in their fiduciary duties hidden.
The fact that this information is not disclosed by health companies in their SEC filings could lead to serious legal ramifications. Non-disclosure of information is serious enough. But material omission of information and conspiracy to conceal that information is quite another. This would place health insurance companies not only in jeopardy of lawsuits from their policyholders, but in danger of legal action for fraud. [7]
[1] Consider as one example Aetna, one of the nation’s leading health insurance providers. First, from their Second Quarter 2009 results: “Our second quarter results do not meet our expectations or the standards we have established over several years of strong operational execution and financial performance,” said Ronald A. Williams, chairman and CEO… “Aetna has a sound strategy. We have built a diverse portfolio of high-performing businesses; our brand continues to resonate in our key markets; and we have a sound business model. We are confident that we can achieve our goal of long-term profitable growth.” (http://www.aetna.com/news/newsReleases/2009/pr_2ndquarter2009_earnings.html, last accessed August 24, 2009). Second, contrast these last remarks with their mission statement: “Aetna is dedicated to helping people achieve health and financial security by providing easy access to safe, cost-effective, high-quality health care and protecting their finances against health-related risks… At Aetna, we put the people who use our services at the center of everything we do.” (http://www.aetna.com/about/aetna /ms/, last accessed August 24, 2009). Aetna wants both shareholders and the insured to believe they are at the center of what they do.
[2] Pegram vs. Herdich (98-1949) 530 U.S. 211 (2000).
[3] About $75 in today’s dollars, measured against the consumer price index. (http://www.measuringworth.com/uscompare, last accessed August 24, 2009)
[4] Most Americans live in dread of the idea of “rationed care,” which seems like such an un-American concept. The truth is that care is already rationed.
[5] ERISA applies to all employee pension and health plans established in the private sector (other than churches), including those established by employee groups like unions. ERISA does not apply to plans administered by federal, state, or local governments.
[6] In 2004, Aetna reported that the total compensation package for their CEO in 2001 was a little over $3.5 million. By 2008, total compensation for the position of CEO had grown to over $24 million, an almost seven fold increase in only seven years (information taken from Aetna’s Financial Proxy Statements).
. The Gospel of Matthew 6:24, English Standard Version.
[ii] fiduciary. Dictionary.com. Dictionary.com Unabridged (v 1.1). Random House, Inc. http://dictionary.reference.com/browse/fiduciary (accessed: August 20, 2009).
[iii] Webster’s Third New International Dictionary of the English Language Unabridged 845 (1986).
[iv] fiduciary duties. The New Palgrave Dictionary of Economics and the Law. Tamar Frankel, Vol.2, p.127-128
[v] fiduciary duties. The New Palgrave Dictionary of Economics and the Law. Tamar Frankel, Vol.2, p.127-128
[vi] fiduciary duties. The New Palgrave Dictionary of Economics and the Law. Tamar Frankel, Vol.2, p.127-128
[vii] fiduciary duties. The New Palgrave Dictionary of Economics and the Law. Tamar Frankel, Vol.2, p.127-128
[viii] AKO Policyholder Advisor
[ix] AKO Policyholder Advisor
[x] fiduciary. Dictionary.com. Dictionary.com Unabridged (v 1.1). Random House, Inc. http://dictionary.reference.com/browse/fiduciary (accessed: August 20, 2009).
[xi] Stanford Law Review, March 1, 2008 Foundations of Shareholder Fiduciary Duties.
[xii] Baird, Douglas G. and Henderson, M. Todd. 2007. Other People’s Money. John M. Olin Law and Economics Working Paper No. 359, the Law School of the University of Chicago.
[xiii] Baird, Douglas G. and Henderson, M. Todd. 2007. Other People’s Money. John M. Olin Law and Economics Working Paper No. 359, the Law School of the University of Chicago.
[xiv] Baird, Douglas G. and Henderson, M. Todd. 2007. Other People’s Money. John M. Olin Law and Economics Working Paper No. 359, the Law School of the University of Chicago.
[xv] Baird, Douglas G. and Henderson, M. Todd. 2007. Other People’s Money. John M. Olin Law and Economics Working Paper No. 359, the Law School of the University of Chicago.
[xvi] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xvii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xviii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xix] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xx] http://www.cdc.gov/obesity/data/trends.html, last accessed August 24, 2009.
[xxi] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxiii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxiv] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxv] http://www.dol.gov/dol/topic/health-plans/erisa.htm accessed August 21, 2009
[xxvi] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxvii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxviii] McLean, Thomas R. and Edward P. Richards. 2001. Managed Care Liability for Breach of Fiduciary Duty after Pegram v. Herdrich: The End of ERISA Preemption for State Law Liability for Medical Care Decision Making. University of Florida Law Review.
[xxix] Himmelstein, David, et. al. 1999. Quality of Care in Investor-Owned vs. Not-for-Proft HMOs. Journal of the American Medical Association.
[xxx] Deveraux, P.J. et al. 2002. A systematic review and meta-analysis of studies comparing mortality rates of private for-profit and private not-for-profit hospitals. Canadian Medical Association Journal
[xxxi] Deveraux, P.J. et al. 2004. Payments for care at private for-profit and private not-for-profit hospitals: a systematic review and meta-analysis. Canadian Medical Association Journal.
[xxxii] McLean, Thomas R. and Edward P. Richards. 2004. Health Care’s ‘Thirty Years War:’ The Origins and Dissolution of Managed Care. NYU Annual Survey of American Law.
[xxxiii] Sarbanes-Oxley (2002), Section 401(a)-3.III.c.: Disclosure About Off-Balance Sheet Arrangements.
The Cancer.im Volunteer Moderators of The Viratech's Best Practices Taxonomy System-
https://www.cancer.im/newswires-view/1/1742/the-moderators-of-best-practices-taxonomy
The volunteer moderators of the Cancer.im Foundation's Best Practices Taxonomy. A 16 part modular adaption of the EORTC QLQ C30 Quality of Life Index consisting of:
1.Being Proactive - https://www.cancer.im/profile/beingproactive
2.Find Resources - https://www.cancer.im/profile/findresources
3.Organize Resources - https://www.cancer.im/profile/organizeresources
4.Organize Priorities-https://www.cancer.im/profile/Organizepriorities
5.Organize Medical Records - https://www.cancer.im/profile/OrganizeMedicalRecords
6.Organize Finances - https://www.cancer.im/profile/OrganizeFinanaces
7.Research Disease - https://www.cancer.im/profile/ResearchDisease
8.Research Therapies - https://www.cancer.im/profile/ResearchTherapies
9.Research Hospital - https://www.cancer.im/profile/ResearchHospitals
10.Research Doctors - https://www.cancer.im/profile/ResearchDoctors
11.Activity - https://www.cancer.im/profile/Activity
12.Nutrition - https://www.cancer.im/profile/Nutrition
13.Prepare for Treatment - https://www.cancer.im/profile/PrepareforTreatment
14.Develop a Strategy - https://www.cancer.im/profile/DevelopaStrategy
15.Share Wisdom - https://www.cancer.im/profile/ShareWisdom
16. Participate in Research - https://www.cancer.im/profile/create
Cancer.im Individual Cancer Reports
Bone Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=1010&page=&tag=&start_date=&end_date=&category=1010&subcategory=0&subsubcategory=0&categoryname=bone-cancer&subcategoryname=0&subsubcategoryname=0
Brain Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&subcategory_id=0&page=&tag=&start_date=&end_date=&category=1028&subcategory=0&subsubcategory=0&categoryname=brain-cancer&subcategoryname=0&subsubcategoryname=0
Breast Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1037&subcategory=0&subsubcategory=0&categoryname=breast-cancer&subcategoryname=0&subsubcategoryname=0
Endocrine Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1052&subcategory=0&subsubcategory=0&categoryname=endocrine-cancer&subcategoryname=0&subsubcategoryname=0
Gastrointestinal Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1061&subcategory=0&subsubcategory=0&categoryname=gastrointestinal-cancer&subcategoryname=0&subsubcategoryname=0
Genotourinary Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1082&subcategory=0&subsubcategory=0&categoryname=genitourinary-cancer&subcategoryname=0&subsubcategoryname=0
Head and Neck Cancer - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1111&subcategory=0&subsubcategory=0&categoryname=head-and-neck-cancer&subcategoryname=0&subsubcategoryname=0
Leukemia - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1124&subcategory=0&subsubcategory=0&categoryname=leukemia&subcategoryname=0&subsubcategoryname=0
Lung Cancer https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1131&subcategory=0&subsubcategory=0&categoryname=lung-cancer&subcategoryname=0&subsubcategoryname=0
Lymphoma - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1139&subcategory=0&subsubcategory=0&categoryname=lymphoma&subcategoryname=0&subsubcategoryname=0
Melanoma - https://www.cancer.im/documents/browse?profile_type=&search=&orderby=document_id&show=1&documentType=0&category_id=0&page=&tag=&start_date=&end_date=&category=1158&subcategory=0&subsubcategory=0&categoryname=melanoma&subcategoryname=0&subsubcategoryname=0
Why isn't there a cure to cancer ?
https://www.cancer.im/newswires-view/1/1885/why-isn-t-there-a-cure-for-cancer
Transfer Agent WILL CONFIRM all outstanding common stock, preferred stock.
Viratech has no overhang, nor any toxic financing - Confirm with Transfer Agent and filings - please post your findings.
Viratech's Transfer Agent (SEC REGISTERED) is
Standard Registrar and Transfer Co., Inc.
12528 South 1840 East
Draper, UT 84020
(801)571-8844
Common Stock Share Issuance since 10/26/15
Due your own due diligence, and please use this board to confirm or refute.
From Annual report on OTC https://www.otcmarkets.com/stock/VIRA/profile
Outstanding common shares 12/31/16 754,243,750 (+100,000) shares
Outstanding common shares 10/26/15 754,143,750
From a Previous 10/26/2015
Due Diligence Index Part 1 - Provenance of Company and Stock Issuance.
Three things everyone needs to know about stock issuance.
What is the difference between Authorized, Issued and Float of a Company:
1. Authorized Shares = What the Company can issue; (i.e 2,000,000,000 Common + 20,000,000 Preferred);
2. Issued Shares = What the company has issued (i.e. 754,143,750 Common shares and 3,500,000 Preferred);
3. Float = What is in electronic form (DTC) (i.e. 85,456,061 +-).
Do your homework, NOTHING REPLACES DUE DILIGENCE and RESEARCH
Here is a good place to start:
http://www.otcmarkets.com/stock/VIRA/filings
How Many Shares Have Been Issued in the last 21 Months
Here is the provenance of the float that I have been able to obtain from reading the filings and information posted on this board. (do your own confirmation).
Common Stock Outstanding: 754,143,750 (as of 6/30/2015) Restricted Common Stock: 668,687,689(as of 6/30/2015)
FLOAT: 85,456,061
How many additional shares has the company issued since 9/13/13
Since Period Ending 9/30/13 480,000 New common shares have been issued and 21,957,689 additional shares have come into the float (total float 85,456,061).
How I figured this out
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=116784
Common Stock Outstanding: 753,663,750
Restricted Common Stock: 646,730,000
Issued common stock difference from 9/30/13 to 6/30/15: (21 Months)
Additional Common Stock Issued 480,000 shares (754,143,750 - 753,663,750);
Additional shares added to Float 21,957,689 shares (668687689 -646730000)
Further Due Diligence
A. Quarterly Report For Period Ending 6/30/11 filed August 25, 2011 http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=58924
"...NOTE 6 SUBSEQUENT EVENTS
On July 16, 2011, Imperia approved the acquisition of acquiring Viratech, Inc., a corporation which holds the exclusive license to market proprietary and patented cancer diagnostic and treatment protocols, including the unified cancer theory, which is a multi-disciplinary oncological approach to identify the physiological mechanism of action for all cancers, the stage zero cancer protocol, an intellectual property pool consisting of best method practices of dealing with and managing individual cancer patients, and an early detection diagnostic system. In connection with the acquisition, Imperia has changed its name to Viratech Corp. and is effecting a 1-100 reverse common stock split..."
B. Quarterly Report For Period Ending 9/30/11 filed December 3, 2011
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=66774
"...Item 2 shares outstanding.
As of September 30, 2011, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized.Currently, there are 861,956,493 shares of common stock outstanding and no shares of Preferred stock outstanding..."
C. Annual Report For Period Ending 12/31/11 filed April 9, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=77552
"...As of that date, there are 1,956,493 shares in the public float, and approximately 158 shareholders of record.
Item 6 The number of shares or total amount of the securities outstanding for each class of securities authorized. The Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value. Currently there are 861,956,493 shares issued and outstanding with 1,965,493 in the trading float.
The Company’s authorized Preferred Class A Shares consists of 5,000,000 shares $0.0001 par value with a conversion rate of 100,000 common shares
for each Preferred Class A share. Currently there are 10 Preferred Class A shares issued and outstanding.
The Company’s authorized Preferred Class B Shares consist of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for
every Preferred Class B Share. Currently, there are 3,500,000 Preferred Class B shares issued and outstanding.The Company has of record approximately 158 shareholders of record..."
D. Quarterly Report For Period Ending 3/31/12 filed May 3, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=80225
"...Item 2 shares outstanding.
As of March 31, 2012, the Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value
. Currently there are 861,956,493 shares issued and outstanding with 1,965,493 in the trading float.
The Company’s authorized Preferred Class B Shares Consists of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for each Preferred Class A share. Currently there are 4,100,000 Preferred Class B shares issued and outstanding. There are currently authorized 100,000 authorized Preferred Class A Shares, $0.0001 par value with a conversion rate of 100,000 to one. The Company has of record approximately 158 shareholders of record..."
E. Quarterly Report For Period Ending 6/30/12 filed November 2, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=93671
"...Item 2. Shares Outstanding. As of June 30, 2012, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,
000,000 preferred shares par value $.0001 authorized. Currently, there are 861,956,493 shares of common stock outstanding and no shares of Preferred stock outstanding. As of that date, there are 1,956,493 shares in the public float, and approximately 158 shareholders of record..."
F. Quarterly Report For Period Ending 9/30/12 filed November 29, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=95658
"...Item 2.Shares Outstanding. As of September 30, 2012, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized. Currently, there are 724,980,550 shares of common stock outstanding and no shares of Preferred stock outstanding. As of that date, there were
19,726,558 shares in the public float, and approximately 155 shareholders of record..."
G. Annual Report For Period Ending 12/31/12 filed March 28, 2013
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=101684
"...Item 6 The number of shares or total amount of the securities outstanding for each class of securities authorized. The Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value and 20,000,000 shares of preferred stock.
Currently there are 726,830,550 shares issued and outstanding, of which 646,730,000 shares are subject to lockup agreements, with 46,976,558 in the trading float, of which 41,500,000 shares are subject to lockup agreements. The Company’s authorized Preferred Class A Shares consists of 5,000,000 shares $0.0001 par value with a conversion rate of 100,000 common shares for each Preferred Class A share. Currently there are 10 Preferred Class A shares issued and outstanding.
The Company’s authorized Preferred Class B Shares consist of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for every Preferred Class B Share. Currently, there are 3,882,500 Preferred Class B shares issued and outstanding. The Company has of record approximately 179 shareholders..."
H. Quarterly Report For Period Ending 3/31/12 filed May 15, 2013
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=104752
"...Item 2.Shares Outstanding.As of March 31, 2013,
there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized. Currently, there are 751,989,550 shares of common stock outstanding, of which 646,730,000 shares are subject to lockup agreements and 3,882,500 shares of Preferred stock outstanding. As of that date, there were 38,976,558 shares in the public float, of which 41,500,000 shares are subject to lockup agreements, and approximately 155 shareholders of record..."
I. Quarterly Report For Period Ending 9/30/13 filed February 28, 2014
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=116784
"...Total shares outstanding: 753,663,750 shares of common stock outstanding, of which 646,730,000 shares are subject to lockup agreements and 3,882,500 shares of Preferred stock outstanding as of September 30, 2013.."
From Quarterly report filed May 17, 2017
https://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=172388
3) Security Information
Trading Symbol: VIRA
Common Stock Outstanding: 754,243,750 (as of 3/31/2017) Restricted Common Stock: 668,787,689(as of
3/31/2017) Preferred Stock Outstanding: 3,882,500 (as of 3/31/2017) CUSIP Number: 927647 107
Par or Stated Value: Common-$.0001 and Preferred stock-$0.0001
Total shares authorized: Common – Two billion (2,000,000,000) shares. Preferred – Twenty million
(20,000,000) shares designated to two classes as of 3/31/2017
Total shares outstanding: 758,126,250 as of 3/31/2017
Transfer Agent:
Standard Registrar and Transfer Co. 12528 S. 1840 E.
Draper UT 84020
801-571-8844
Registered Under Exchange Act: Yes
Regulatory Authority: Security Exchange Commission (SEC)
Check out www.cancer.im
Here is an explanation of Viratech/Cancer.im Missouri S&T P-Scan Technology
http://www.ozarksfirst.com/news/new-screening-process-called-p-scan-detects-breast-cancer
Missouri S&T technique to detect breast cancer moving from lab to commercialization
Cancer screening could soon be as simple as giving a urine sample using a patented device developed by a Missouri University of Science and Technology researcher. This week, Wyoming-based Cancer.im Inc., a Viratech Corp. company (Symbol: VIRA) and social network for cancer patients, survivors and caretakers, announced an agreement with Missouri S&T to commercialize the device.
The device, known as a “P-scan,” is a rapid, point-of-care test for early screening of cancer that noninvasively monitors levels of pteridine biomarkers in urine. Its creator, Dr. Yinfa Ma, Curators’ Teaching Professor of chemistry at Missouri S&T, says the device is being developed to diagnose breast cancer – and determine its severity – with the hope that it may replace or supplement the mammogram. The researchers believe the diversity of these biomarkers means they also have applications in detecting other cancers.
“The mammogram is not perfect,” Ma says. “Many early cancers cannot be detected by the mammogram, while other benign tumors are falsely detected. The P-Scan technology will help alleviate this problem by using molecular biomarkers in a detection method that can be easily integrated into a routine physical screening. A patient donates urine and 10 minutes later she has a result. This will be an amazing diagnostic tool.”
The P-scan works by passing the urine through a small capillary and detecting the fluorescence given off by the pteridine biomarkers. The advantage of this technique is that it delivers excellent sensitivity without the need for costly instrumentation. The P-Scan can detect over 70 unique compounds in urine, many of which Ma believes may also be indicators of specific cancers, which he hopes to study in future clinical trials.
“Cancer cells grow much faster than normal cells,” Ma explains. “So they release more waste into the urine and we begin to see a rise in certain metabolite levels.”
Ma’s studies suggest that two of these pteridine metabolites, “isoxanthopterin” and “xanthopterin” were present in elevated levels in the urine of women with newly diagnosed breast cancer. New clinical trials are under way at Missouri S&T to verify these findings and to test whether pteridine biomarkers can be used to detect other types of cancers.
“We will go cancer by cancer until we know,” Ma says.
The National Cancer Institute estimates that over 1.6 million people will be diagnosed with cancer this year. Nearly one in eight women will develop invasive breast cancer during her lifetime. Around 85 percent of women diagnosed with breast cancer have no family history of the disease.
“I am very excited about this project,” Ma says. “It will save lives. That’s my motivation.”
http://news.mst.edu/2016/02/st-technique-to-detect-breast-cancer-moving-from-lab-to-commercialization/
Cancer.im Announces Signed Agreement with the Missouri University of Science and Technology for a Clinical Breast Cancer Screening Technique
RENO, NV / ACCESSWIRE / February 1, 2016 / Cancer.im Inc. a Viratech Corp. company (OTC: VIRA) and social network for cancer patients, survivors and caretakers, announced today an agreement with Missouri University of Science and Technology (Missouri S&T) to commercialize a device that analyzes metabolic biomarkers present in urine for cancer screening applications.
The "P-scan" technology developed by Dr. Yinfa Ma and his research team at Missouri S&T is a rapid, point-of-care test for early screening of cancer that non-invasively monitors levels of pteridine biomarkers in urine. Its unique design delivers excellent sensitivity without the need for costly instrumentation. New technological modifications, such as improved interference filtering, are being used to further enhance device sensitivity and clinical accuracy.
New frontiers for health care
"The influential U.S. Preventive Services Task Force suggests waiting to start mammogram screening until age 50," says Dr. Kevin Buckman, M.D., Chief Medical Officer of Cancer.im Inc. and author of a best-selling book on breast cancer called Find and Stop Breast Cancer. "This is a real dilemma for women under 50 and for those who want a noninvasive means of breast cancer screening. Screening with molecular biomarkers may have advantages over expensive imaging technologies such as CT scans, x-rays, PET scans, mammograms, ultrasounds and other tests, since these metabolic biomarkers can better represent tumor biology. There is an urgent need to find new ways to detect breast cancer at all stages and to monitor cancer treatment following diagnosis. Pteridines present an exciting opportunity given the clinical research that is linking pteridine levels in urine to cancer."
The P-Scan device detects pteridines by measuring their fluorescence in urine, but can detect over 70 unique compounds. Some of these unknown compounds have also been shown to associate with presence of cancer. The technology has been deployed in several pilot clinical studies to evaluate the clinical performance of pteridine biomarkers in various cancers and especially breast cancer. Some of the more salient findings from these studies were that (1) Elevated pteridine levels were measured in invasive breast carcinomas; (2) Two pteridine biomarkers, xanthopterin and isoxanthopterin, provided superior performance in detecting invasive breast, and (3) Combining pteridine biomarkers with patient factors like age and previous history of breast cancer provide a new risk screening tool for clinicians that may be used to supplement or replace existing techniques like the mammogram. There are also preliminary findings that some pteridines correlate with cancer stage and may be used to detect early stage cancers that cannot be detected by conventional techniques. Further clinical studies are needed to obtain regulatory approval before the device can be used clinically.
About Cancer.im
Cancer.im Inc. is a purpose-driven corporation with a mission "To Change The Way People View and Manage Cancer." Cancer.im is a for-profit social network that supports a parallel and independently run non-profit.
On October 27, 2007, Dr. Nikolaou, on behalf of Fox Chase Medical Center, published a double blind placebo controlled study titled "Quality of Life (QOL) Supersedes the Classic Predictors of Survival in Locally Advanced Non-Small Cell Lung Cancer (NSCLC)." This study concluded that by raising a cancer patient's quality of life via the European Organization for Research and Treatment of Cancer (EORTC QLQ-C30 index), you could directly lower the incidence of morbidity in a cancer patient, regardless of treatment.
In 2008, Cancer.im CEO Chris Ryan with oncologist Dr. Mahesh Kanojia, Dr. Barkat Charania and Dr. Kevin Buckman adapted the above referenced study into a modular 15-part best practice navigation element and guide on teaching and assisting cancer patients in raising their quality of life.
In 2011 this adaption was published under the title "Method of Lowering a Cancer Patients' Morbidity Rate by Increasing Quality of Life of Patient, by Leveraging Cause Based Electronic Support Networks", and later renamed "The Robert Ryan Cancer Protocol" in honor of the cancer patient who inspired the study.
The Cancer.im Inc. vision is based on the Robert Ryan Cancer Protocol with a modular 15-part best practice guide on teaching and assisting cancer patients and their loved ones on the importance of Quality of Life and how to raise it when managing a diagnosis of cancer.
"Cancer.im is about empowering the cancer patients, caretakers and survivors of the network. It is an honor to serve this project, for it draws the best people who together through collaboration bring the best out of each other. The purpose of Cancer.im is to convert a cancer patient from hopeless to hopeful, while teaching their support network how to be helpful, while not being a hindrance," says Chris Ryan CEO Cancer.im Inc.
This year, nearly 1.6 million Americans will be diagnosed with cancer. Of that, 581,000 people are expected to die. Cancer accounts for 1 in every 4 deaths, second only to heart disease as the most common cause of death. The monetary cost seems irrelevant to the loss of life. Overall costs of cancer are projected to exceed $201 billion in 2013: $77 billion for direct medical costs (all health expenditures) as well as over $124 billion for the indirect mortality costs.
About Viratech Corp.
Viratech is a software company focusing on leveraging its proprietary social network platform in developing disruptor-based applications in the communication broadcasting, work flow management, crowdsourced labor and biotechnology fields.
About Missouri University of Science and Technology
Founded in 1870 as the University of Missouri School of Mines and Metallurgy, Missouri University of Science and Technology (Missouri S&T) is a research university of more than 8,900 students and part of the four-campus University of Missouri System. Located in Rolla, Missouri, Missouri S&T offers 97 degree programs in 39 areas of study and awards bachelor's, master's and Ph.D. degrees in engineering, the sciences, business and information technology, the humanities, and the liberal arts. For more information about Missouri S&T, visit www.mst.edu.
Forward-Looking Statements
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward-looking statements in this press release include statements regarding our belief about the market applications. The following important factors, among others, have affected and, in the future could affect, the our actual results: the effect of new branding and marketing initiatives, the integration of new leadership, the introduction and acceptance of new products, the levels and particular directions of research and product development by our customers, the impact of the growing number of producers of biotechnology research and diagnostics products and related price competition, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of our research and product development efforts and those of companies in which we have invested or with which we have formed strategic relationships. For additional information concerning such factors, see the section titled "Risk Factors" in our annual report and quarterly reports. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
Contact information:
Chris Ryan
CEO Cancer.im, Inc.
www.linkedin.com/in/cancer
Fred Schiemann
CEO Viratech, Corp.
Viratech, Corp.
(775) 372–(VIRA)
SOURCE: Cancer.im, Inc.
https://finance.yahoo.com/news/cancer-im-announces-signed-agreement-123000416.html
Viratech - Big News
Cancer.im Social Network to Offer Free Press Coverage to Every Cancer Charity & Cause
http://finance.yahoo.com/news/cancer-im-social-network-offer-132800334.html
Viratech - Big News
Cancer.im Social Network to Offer Free Press Coverage to Every Cancer Charity & Cause
http://finance.yahoo.com/news/cancer-im-social-network-offer-132800334.html
Cancer.im Social Network to Offer Free Press Coverage to Every Cancer Charity & Cause
http://finance.yahoo.com/news/cancer-im-social-network-offer-132800334.html
Viratech Quarterly Report 9/30/15
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=147402
Doe, besides Eade trying to sue you, what else did this guy do to you. You have been stalking a board for 4 years that you have 0 shares in.
An analogy would be not liking your new neighbor because the people who lived in the house previous were bad to you.
Facts:
1. EADE is not Viratech - He does not live here;
2. Company 4 years current;
3. No Reverse Stock Split under Viratech Ownership (4 years);
4. 480,000 shares issued in the last 21 months;
5. No IR and 2 press releases in 2 years.
Not trying to disrespect you, but it seems that you are using this message board as therapy. Your beef is with Eade, not Viratech.
Doe, your relationship with Eade predates the Viratech merger by 3+ years. It seems you also were involved in a lawsuit with Eade. Care to share with the board.
I mean you have this deal pegged, why don't you disclose why someone who has no shares in Viratech, is so bent on badmouthing it at every step.
FACTS - Will correct upon confirmation
No Ken Eade to be found, filings show he has been long gone (2+ years). The company is current in its filings (4 years) and has issued a total of 480,000 new shares in the last 21 months.
I see a different company, than the one that housed Imperia Entertainment (Eade's House) ie the predecessor company to Viratech.
Do your homework, NOTHING replaces research NOTHING. Please also independently verify the reseach links and quick facts, if I missed something or got something wrong please let me know.
Below, previous posts links I compiled. The sole purpose to give direction on where to start doing your due diligence. DO YOUR HOMEWORK:
1. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=117999024 ;
2. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118000867 ;
3. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118001060 ;
4. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118006512 ;
Quick Facts PLEASE VERIFY INDEPENDENTLY
A. Viratech was the result of a reverse merger, 10/2011;
B. Previous management of Viratech (Imperia Entertainment) is not associated with Viratech;
C. Viratech is current in its disclosure, and has been for the past 4 years (10/11);
D. Viratech is in the computer software space making social networks and disruptor based applications for the medical community, focusing on chronic disease management. (see www.cancer.im);
E In the last 2 years Viratech has added no debt to the balance sheet;
F In the last 2 years Viratech has issued an additional 480,000 commmon shares.
G. New CEO -CPA background
The predecessor company (Imperia Entertainment) became Viratech as the result of a merger, in the (Summer/Fall) 3rd Quarter of 2011.
Viratech has been in business for 4 years and current in their disclosures/filing ever since.(*1).
In the last 21 months Viratech has issued a total of 480,000 additional common shares. (*2).
Ken Eade, a previous large shareholder in the predecessor company (Imperia Entertainment) and a previous Securities Attorney for Viratech, was sanctioned by the Securities and Exchange Commission (SEC). This action was regarding his conduct in a transaction not having anything to do with Viratech.
See Administrative Proceeding #3-16219 https://www.sec.gov/litigation/admin/2014/34-73454.pdf
From the disclosures *3 none of the previous management of Imperia Entertainment are with Viratech. Further Ken Eade served as Viratech Securities Counsel up to 2012, but I don't see anything past this annual report filed by Viratech in December 2012. http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=101684.
Reference
*1 http://www.otcmarkets.com/stock/VIRA/filings
*2 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=117999024 (Please confirm numbers independently)
*3 http://www.otcmarkets.com/stock/VIRA/filings
IMO Replace Rumors with Research, there is a lot to read about this company. Good sites to start doing your homework include:
1. https://kindle.amazon.com/search/books?keywords=kevin+buckman&start=1
2. www.viratech.org
3. http://www.otcmarkets.com/stock/VIRA/quote
Due Diligence Index Part 3 News Released in the last 2 years
Due Diligence Link http://www.otcmarkets.com/stock/VIRA/news
1. August 25, 2015 : Viratech Announces Dr.Buckman as Chief Medical Officer
http://www.otcmarkets.com/stock/VIRA/news/Viratech-Announces-Dr-Buckman-as-Chief-Medical-Officer?id=113006&b=y
2. August 25, 2015 : Viratech Announces Fred Schiemann as CEO http://www.otcmarkets.com/stock/VIRA/news/Viratech-Announces-Fred-Schiemann-as-CEO?id=113005&b=y
Due Diligence Index Part 2 Trading and Estimated Dollar Volume (2 years)
Since 10/28/2013 to 10/26/2013
The total trading volume has been 79,286,431 shares
Estimated Total Dollar volume*1 has been $279,545
*1 Here is the 2 year trading chart that I got from http://www.otcmarkets.com/stock/VIRA/chart , which I then downloaded to an XLS sheet and took the (Close Price) multiplied by Daily trading Volume. This produced the EDV$ (Estimated Dollar Volume) a calculated field. The purpose of such is for due diligence purpose only. Do you own homework, nothing replaces research and facts.
Close Volume EDV$ (est)
10/28/2013 0.02 0 0
10/29/2013 0.02 0 0
10/30/2013 0.02 0 0
10/31/2013 0.02 0 0
11/1/2013 0.02 2650 53
11/4/2013 0.02 0 0
11/5/2013 0.019 4000 76
11/6/2013 0.019 0 0
11/7/2013 0.019 0 0
11/8/2013 0.019 7500 142.5
11/11/2013 0.019 0 0
11/12/2013 0.019 20751 394.269
11/13/2013 0.019 0 0
11/14/2013 0.019 0 0
11/15/2013 0.019 0 0
11/18/2013 0.019 23000 437
11/19/2013 0.012 90000 1080
11/20/2013 0.0127 9574 121.5898
11/21/2013 0.015 104600 1569
11/22/2013 0.015 0 0
11/25/2013 0.015 103496 1552.44
11/26/2013 0.015 0 0
11/27/2013 0.015 0 0
11/29/2013 0.0185 1000 18.5
12/2/2013 0.0185 92300 1707.55
12/3/2013 0.018 1800 32.4
12/4/2013 0.019 42400 805.6
12/5/2013 0.019 0 0
12/6/2013 0.0073 581176 4242.5848
12/9/2013 0.0073 0 0
12/10/2013 0.0073 0 0
12/11/2013 0.0073 0 0
12/12/2013 0.0099 40000 396
12/13/2013 0.006 200001 1200.006
12/16/2013 0.006 0 0
12/17/2013 0.006 0 0
12/18/2013 0.0088 1286100 11317.68
12/19/2013 0.0088 0 0
12/20/2013 0.0087 5000 43.5
12/23/2013 0.0087 0 0
12/24/2013 0.0087 0 0
12/26/2013 0.0087 0 0
12/27/2013 0.0087 0 0
12/30/2013 0.0087 0 0
12/31/2013 0.004 530200 2120.8
1/2/2014 0.004 0 0
1/3/2014 0.004 0 0
1/6/2014 0.004 640000 2560
1/7/2014 0.004 0 0
1/8/2014 0.004 0 0
1/9/2014 0.004 0 0
1/10/2014 0.004 0 0
1/13/2014 0.003 433400 1300.2
1/14/2014 0.004 135500 542
1/15/2014 0.004 0 0
1/16/2014 0.004 0 0
1/17/2014 0.004 0 0
1/21/2014 0.0025 1000 2.5
1/22/2014 0.0065 2000 13
1/23/2014 0.0065 10000 65
1/24/2014 0.0025 20000 50
1/27/2014 0.0025 0 0
1/28/2014 0.0025 0 0
1/29/2014 0.0025 0 0
1/30/2014 0.0025 36526 91.315
1/31/2014 0.0065 1020 6.63
2/3/2014 0.0068 10000 68
2/4/2014 0.0068 0 0
2/5/2014 0.0065 45000 292.5
2/6/2014 0.0025 160001 400.0025
2/7/2014 0.0065 123000 799.5
2/10/2014 0.007 894520 6261.64
2/11/2014 0.005 514999 2574.995
2/12/2014 0.005 0 0
2/13/2014 0.0025 400000 1000
2/14/2014 0.0025 0 0
2/18/2014 0.0025 0 0
2/19/2014 0.0025 0 0
2/20/2014 0.005 2000 10
2/21/2014 0.005 0 0
2/24/2014 0.005 0 0
2/25/2014 0.005 0 0
2/26/2014 0.005 2000 10
2/27/2014 0.005 0 0
2/28/2014 0.0025 1204999 3012.4975
3/3/2014 0.0025 0 0
3/4/2014 0.0025 0 0
3/5/2014 0.0025 0 0
3/6/2014 0.0025 0 0
3/7/2014 0.0025 0 0
3/10/2014 0.0105 3307999 34733.9895
3/11/2014 0.01 702788 7027.88
3/12/2014 0.01 42000 420
3/13/2014 0.01 98000 980
3/14/2014 0.01 376896 3768.96
3/17/2014 0.0098 50900 498.82
3/18/2014 0.0041 789000 3234.9
3/19/2014 0.0093 300150 2791.395
3/20/2014 0.007 54015 378.105
3/21/2014 0.007 0 0
3/24/2014 0.003 472100 1416.3
3/25/2014 0.003 0 0
3/26/2014 0.003 0 0
3/27/2014 0.003 0 0
3/28/2014 0.004 30095 120.38
3/31/2014 0.0068 7250 49.3
4/1/2014 0.0068 0 0
4/2/2014 0.0068 0 0
4/3/2014 0.005 314750 1573.75
4/4/2014 0.0067 40000 268
4/7/2014 0.006 40000 240
4/8/2014 0.006 0 0
4/9/2014 0.0068 28000 190.4
4/10/2014 0.0067 55401 371.1867
4/11/2014 0.0067 0 0
4/14/2014 0.006 100000 600
4/15/2014 0.004 945889 3783.556
4/16/2014 0.004 0 0
4/17/2014 0.005 34400 172
4/21/2014 0.005 0 0
4/22/2014 0.0048 20000 96
4/23/2014 0.0048 0 0
4/24/2014 0.0048 0 0
4/25/2014 0.0048 34401 165.1248
4/28/2014 0.0048 0 0
4/29/2014 0.0048 5000 24
4/30/2014 0.0048 10005 48.024
5/1/2014 0.0037 137000 506.9
5/2/2014 0.0037 0 0
5/5/2014 0.0037 0 0
5/6/2014 0.0037 0 0
5/7/2014 0.005 5700 28.5
5/8/2014 0.0045 56400 253.8
5/9/2014 0.0045 0 0
5/12/2014 0.0045 0 0
5/13/2014 0.0045 0 0
5/14/2014 0.0045 0 0
5/15/2014 0.0045 0 0
5/16/2014 0.0045 0 0
5/19/2014 0.0045 0 0
5/20/2014 0.0045 0 0
5/21/2014 0.0045 0 0
5/22/2014 0.0045 0 0
5/23/2014 0.0045 0 0
5/27/2014 0.0045 0 0
5/28/2014 0.0045 0 0
5/29/2014 0.0045 0 0
5/30/2014 0.0045 0 0
6/2/2014 0.0045 0 0
6/3/2014 0.0045 0 0
6/4/2014 0.0045 0 0
6/5/2014 0.0045 0 0
6/6/2014 0.0045 0 0
6/9/2014 0.0045 0 0
6/10/2014 0.0045 0 0
6/11/2014 0.0045 0 0
6/12/2014 0.0045 0 0
6/13/2014 0.0025 842550 2106.375
6/16/2014 0.0025 0 0
6/17/2014 0.0025 0 0
6/18/2014 0.0025 0 0
6/19/2014 0.0025 0 0
6/20/2014 0.0025 0 0
6/23/2014 0.0025 0 0
6/24/2014 0.0025 0 0
6/25/2014 0.0025 80000 200
6/26/2014 0.0055 845666 4651.163
6/27/2014 0.0055 100001 550.0055
6/30/2014 0.0055 2000 11
7/1/2014 0.006 32992 197.952
7/2/2014 0.006 12834 77.004
7/3/2014 0.0023 40000 92
7/7/2014 0.0023 0 0
7/8/2014 0.005 44017 220.085
7/9/2014 0.005 0 0
7/10/2014 0.0059 411200 2426.08
7/11/2014 0.0059 0 0
7/14/2014 0.0064 28549 182.7136
7/15/2014 0.0075 1677900 12584.25
7/16/2014 0.0068 102500 697
7/17/2014 0.008 30200 241.6
7/18/2014 0.008 67400 539.2
7/21/2014 0.007 15500 108.5
7/22/2014 0.007 7500 52.5
7/23/2014 0.007 0 0
7/24/2014 0.0054 57000 307.8
7/25/2014 0.0054 0 0
7/28/2014 0.0069 40900 282.21
7/29/2014 0.0065 611000 3971.5
7/30/2014 0.0065 0 0
7/31/2014 0.006 150000 900
8/1/2014 0.006 0 0
8/4/2014 0.006 0 0
8/5/2014 0.0086 224982 1934.8452
8/6/2014 0.0086 1000 8.6
8/7/2014 0.0086 0 0
8/8/2014 0.007 682054 4774.378
8/11/2014 0.007 0 0
8/12/2014 0.007 150000 1050
8/13/2014 0.0046 13881 63.8526
8/14/2014 0.0046 0 0
8/15/2014 0.0046 0 0
8/18/2014 0.0046 0 0
8/19/2014 0.0046 0 0
8/20/2014 0.0046 0 0
8/21/2014 0.0046 0 0
8/22/2014 0.0046 0 0
8/25/2014 0.0045 262 1.179
8/26/2014 0.0045 15102 67.959
8/27/2014 0.0045 0 0
8/28/2014 0.0045 0 0
8/29/2014 0.0045 0 0
9/2/2014 0.0045 0 0
9/3/2014 0.0045 0 0
9/4/2014 0.0045 0 0
9/5/2014 0.0045 0 0
9/8/2014 0.0045 0 0
9/9/2014 0.0045 0 0
9/10/2014 0.0027 163500 441.45
9/11/2014 0.0027 350000 945
9/12/2014 0.0055 20000 110
9/15/2014 0.0055 0 0
9/16/2014 0.0055 4250 23.375
9/17/2014 0.0055 0 0
9/18/2014 0.0026 350000 910
9/19/2014 0.0026 0 0
9/22/2014 0.0026 0 0
9/23/2014 0.0026 0 0
9/24/2014 0.0026 0 0
9/25/2014 0.0026 0 0
9/26/2014 0.0026 93852 244.0152
9/29/2014 0.0026 0 0
9/30/2014 0.0024 400500 961.2
10/1/2014 0.0024 0 0
10/2/2014 0.0024 0 0
10/3/2014 0.0024 0 0
10/6/2014 0.0027 370370 999.999
10/7/2014 0.0027 0 0
10/8/2014 0.0027 0 0
10/9/2014 0.0027 0 0
10/10/2014 0.0027 0 0
10/13/2014 0.0027 0 0
10/14/2014 0.0027 0 0
10/15/2014 0.0015 600000 900
10/16/2014 0.0015 0 0
10/17/2014 0.0015 0 0
10/20/2014 0.0019 20000 38
10/21/2014 0.0019 0 0
10/22/2014 0.0039 26666 103.9974
10/23/2014 0.0038 20000 76
10/24/2014 0.0038 0 0
10/27/2014 0.0038 0 0
10/28/2014 0.0038 0 0
10/29/2014 0.0038 0 0
10/30/2014 0.0038 0 0
10/31/2014 0.0038 0 0
11/3/2014 0.0038 0 0
11/4/2014 0.0037 409501 1515.1537
11/5/2014 0.0037 0 0
11/6/2014 0.0037 0 0
11/7/2014 0.0037 0 0
11/10/2014 0.0037 0 0
11/11/2014 0.0011 504833 555.3163
11/12/2014 0.0011 0 0
11/13/2014 0.0011 0 0
11/14/2014 0.0011 0 0
11/17/2014 0.0011 0 0
11/18/2014 0.0011 0 0
11/19/2014 0.0011 0 0
11/20/2014 0.0011 0 0
11/21/2014 0.0012 10000 12
11/24/2014 0.0012 0 0
11/25/2014 0.0012 0 0
11/26/2014 0.0011 300 0.33
11/28/2014 0.0011 0 0
12/1/2014 0.0011 0 0
12/2/2014 0.0011 0 0
12/3/2014 0.0011 0 0
12/4/2014 0.0011 30000 33
12/5/2014 0.0009 1796182 1616.5638
12/8/2014 0.0009 0 0
12/9/2014 0.0009 0 0
12/10/2014 0.0009 0 0
12/11/2014 0.0008 5000 4
12/12/2014 0.0012 174166 208.9992
12/15/2014 0.0012 0 0
12/16/2014 0.0008 4800 3.84
12/17/2014 0.0008 0 0
12/18/2014 0.0008 2000 1.6
12/19/2014 0.0008 0 0
12/22/2014 0.0008 250 0.2
12/23/2014 0.0008 0 0
12/24/2014 0.0008 0 0
12/26/2014 0.0075 3463455 25975.9125
12/29/2014 0.0075 60140 451.05
12/30/2014 0.0072 10004 72.0288
12/31/2014 0.004 383980 1535.92
1/2/2015 0.0055 15000 82.5
1/5/2015 0.0055 0 0
1/6/2015 0.0055 0 0
1/7/2015 0.0018 16000 28.8
1/8/2015 0.0018 0 0
1/9/2015 0.0018 0 0
1/12/2015 0.0018 0 0
1/13/2015 0.0016 550000 880
1/14/2015 0.0016 0 0
1/15/2015 0.0016 0 0
1/16/2015 0.0014 1184441 1658.2174
1/20/2015 0.0014 0 0
1/21/2015 0.0014 0 0
1/22/2015 0.0014 0 0
1/23/2015 0.0014 0 0
1/26/2015 0.0014 0 0
1/27/2015 0.0015 80000 120
1/28/2015 0.002 50000 100
1/29/2015 0.002 0 0
1/30/2015 0.002 0 0
2/2/2015 0.002 0 0
2/3/2015 0.0031 278237 862.5347
2/4/2015 0.0031 10000 31
2/5/2015 0.0031 0 0
2/6/2015 0.0031 30000 93
2/9/2015 0.0031 0 0
2/10/2015 0.0031 0 0
2/11/2015 0.0031 0 0
2/12/2015 0.0031 0 0
2/13/2015 0.0031 0 0
2/17/2015 0.0031 0 0
2/18/2015 0.002 400 0.8
2/19/2015 0.002 0 0
2/20/2015 0.002 0 0
2/23/2015 0.002 7400 14.8
2/24/2015 0.002 0 0
2/25/2015 0.002 0 0
2/26/2015 0.002 0 0
2/27/2015 0.0015 388322 582.483
3/2/2015 0.0015 0 0
3/3/2015 0.0015 0 0
3/4/2015 0.0015 0 0
3/5/2015 0.0015 0 0
3/6/2015 0.0044 212842 936.5048
3/9/2015 0.0055 31000 170.5
3/10/2015 0.0031 106250 329.375
3/11/2015 0.0031 0 0
3/12/2015 0.0031 0 0
3/13/2015 0.0031 0 0
3/16/2015 0.0031 0 0
3/17/2015 0.0031 0 0
3/18/2015 0.0031 0 0
3/19/2015 0.0031 0 0
3/20/2015 0.0045 355290 1598.805
3/23/2015 0.0045 0 0
3/24/2015 0.0045 100000 450
3/25/2015 0.0045 0 0
3/26/2015 0.0045 0 0
3/27/2015 0.0045 0 0
3/30/2015 0.004 10000 40
3/31/2015 0.004 0 0
4/1/2015 0.004 1000 4
4/2/2015 0.004 0 0
4/6/2015 0.004 0 0
4/7/2015 0.004 0 0
4/8/2015 0.004 0 0
4/9/2015 0.004 0 0
4/10/2015 0.004 0 0
4/13/2015 0.004 0 0
4/14/2015 0.004 0 0
4/15/2015 0.004 0 0
4/16/2015 0.004 0 0
4/17/2015 0.004 0 0
4/20/2015 0.004 0 0
4/21/2015 0.004 0 0
4/22/2015 0.004 0 0
4/23/2015 0.0035 20000 70
4/24/2015 0.0035 0 0
4/27/2015 0.0035 0 0
4/28/2015 0.0035 0 0
4/29/2015 0.0035 0 0
4/30/2015 0.0035 0 0
5/1/2015 0.0035 20000 70
5/4/2015 0.0035 0 0
5/5/2015 0.0035 0 0
5/6/2015 0.0035 0 0
5/7/2015 0.0035 0 0
5/8/2015 0.0035 0 0
5/11/2015 0.0035 0 0
5/12/2015 0.0035 0 0
5/13/2015 0.0035 0 0
5/14/2015 0.0035 30000 105
5/15/2015 0.0035 20000 70
5/18/2015 0.0035 0 0
5/19/2015 0.0035 0 0
5/20/2015 0.0035 0 0
5/21/2015 0.0031 100 0.31
5/22/2015 0.0031 0 0
5/26/2015 0.0031 0 0
5/27/2015 0.0031 0 0
5/28/2015 0.003 10700 32.1
5/29/2015 0.003 0 0
6/1/2015 0.003 0 0
6/2/2015 0.003 0 0
6/3/2015 0.003 0 0
6/4/2015 0.003 0 0
6/5/2015 0.003 0 0
6/8/2015 0.003 0 0
6/9/2015 0.003 0 0
6/10/2015 0.0044 50000 220
6/11/2015 0.0043 7000 30.1
6/12/2015 0.0043 0 0
6/15/2015 0.0043 0 0
6/16/2015 0.0043 0 0
6/17/2015 0.0043 0 0
6/18/2015 0.0035 686 2.401
6/19/2015 0.0043 154915 666.1345
6/22/2015 0.0043 0 0
6/23/2015 0.0043 0 0
6/24/2015 0.0043 0 0
6/25/2015 0.0043 0 0
6/26/2015 0.0043 0 0
6/29/2015 0.0043 0 0
6/30/2015 0.0043 0 0
7/1/2015 0.0043 0 0
7/2/2015 0.0043 0 0
7/6/2015 0.0043 0 0
7/7/2015 0.0043 0 0
7/8/2015 0.0043 0 0
7/9/2015 0.0043 0 0
7/10/2015 0.0043 0 0
7/13/2015 0.004 1000 4
7/14/2015 0.004 0 0
7/15/2015 0.004 0 0
7/16/2015 0.004 0 0
7/17/2015 0.004 0 0
7/20/2015 0.004 0 0
7/21/2015 0.0035 60000 210
7/22/2015 0.0035 0 0
7/23/2015 0.0035 0 0
7/24/2015 0.0035 0 0
7/27/2015 0.0035 0 0
7/28/2015 0.0035 0 0
7/29/2015 0.0035 0 0
7/30/2015 0.0035 0 0
7/31/2015 0.0035 0 0
8/3/2015 0.0035 0 0
8/4/2015 0.0035 0 0
8/5/2015 0.0035 0 0
8/6/2015 0.0035 0 0
8/7/2015 0.0035 0 0
8/10/2015 0.0035 0 0
8/11/2015 0.0035 0 0
8/12/2015 0.0035 0 0
8/13/2015 0.0035 0 0
8/14/2015 0.0035 0 0
8/17/2015 0.0035 0 0
8/18/2015 0.0035 0 0
8/19/2015 0.0035 1150 4.025
8/20/2015 0.0035 0 0
8/21/2015 0.0035 0 0
8/24/2015 0.0035 0 0
8/25/2015 0.0035 0 0
8/26/2015 0.0035 0 0
8/27/2015 0.0035 0 0
8/28/2015 0.0035 0 0
8/31/2015 0.0035 0 0
9/1/2015 0.0035 0 0
9/2/2015 0.003 120000 360
9/3/2015 0.003 0 0
9/4/2015 0.003 0 0
9/8/2015 0.003 0 0
9/9/2015 0.003 0 0
9/10/2015 0.003 0 0
9/11/2015 0.003 0 0
9/14/2015 0.003 0 0
9/15/2015 0.003 0 0
9/16/2015 0.003 0 0
9/17/2015 0.003 0 0
9/18/2015 0.003 0 0
9/21/2015 0.003 0 0
9/22/2015 0.003 0 0
9/23/2015 0.003 0 0
9/24/2015 0.003 0 0
9/25/2015 0.0022 10000 22
9/28/2015 0.002 9870297 19740.594
9/29/2015 0.0011 1744296 1918.7256
9/30/2015 0.0013 2908617 3781.2021
10/1/2015 0.0013 0 0
10/2/2015 0.0014 2411718 3376.4052
10/5/2015 0.0012 2240000 2688
10/6/2015 0.0014 2130000 2982
10/7/2015 0.0014 10000 14
10/8/2015 0.0014 0 0
10/9/2015 0.0015 625000 937.5
10/12/2015 0.0015 616400 924.6
10/13/2015 0.0014 1000 1.4
10/14/2015 0.0012 1959500 2351.4
10/15/2015 0.0015 10000 15
10/16/2015 0.0015 2041412 3062.118
10/19/2015 0.0013 2131819 2771.3647
10/20/2015 0.0015 3503129 5254.6935
10/21/2015 0.0025 3132000 7830
10/22/2015 0.0034 5284036 17965.7224
10/23/2015 0.0024 2968533 7124.4792
10/26/2015 0.0022 366550 806.41
Due Diligence Index Part 1 - Provenance of Company and Stock Issuance.
Three things everyone needs to know about stock issuance.
What is the difference between Authorized, Issued and Float of a Company:
1. Authorized Shares = What the Company can issue; (i.e 2,000,000,000 Common + 20,000,000 Preferred);
2. Issued Shares = What the company has issued (i.e. 7554,143,750 Common shares and 3,500,000 Preferred);
3. Float = What is in electronic form (DTC) (i.e. 85,456,061 +-).
Do your homework, NOTHING REPLACES DUE DILIGENCE and RESEARCH
Here is a good place to start:
http://www.otcmarkets.com/stock/VIRA/filings
How Many Shares Have Been Issued in the last 21 Months
Here is the provenance of the float that I have been able to obtain from reading the filings and information posted on this board. (do your own confirmation).
Common Stock Outstanding: 754,143,750 (as of 6/30/2015) Restricted Common Stock: 668,687,689(as of 6/30/2015)
FLOAT: 85,456,061
How many additional shares has the company issued since 9/13/13
Since Period Ending 9/30/13 480,000 New common shares have been issued and 21,957,689 additional shares have come into the float (total float 85,456,061).
How I figured this out
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=116784
Common Stock Outstanding: 753,663,750
Restricted Common Stock: 646,730,000
Issued common stock difference from 9/30/13 to 6/30/15: (21 Months)
Additional Common Stock Issued 480,000 shares (754,143,750 - 753,663,750);
Additional shares added to Float 21,957,689 shares (668687689 -646730000)
Further Due Diligence
A. Quarterly Report For Period Ending 6/30/11 filed August 25, 2011 http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=58924
"...NOTE 6 SUBSEQUENT EVENTS
On July 16, 2011, Imperia approved the acquisition of acquiring Viratech, Inc., a corporation which holds the exclusive license to market proprietary and patented cancer diagnostic and treatment protocols, including the unified cancer theory, which is a multi-disciplinary oncological approach to identify the physiological mechanism of action for all cancers, the stage zero cancer protocol, an intellectual property pool consisting of best method practices of dealing with and managing individual cancer patients, and an early detection diagnostic system. In connection with the acquisition, Imperia has changed its name to Viratech Corp. and is effecting a 1-100 reverse common stock split..."
B. Quarterly Report For Period Ending 9/30/11 filed December 3, 2011
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=66774
"...Item 2 shares outstanding.
As of September 30, 2011, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized.Currently, there are 861,956,493 shares of common stock outstanding and no shares of Preferred stock outstanding..."
C. Annual Report For Period Ending 12/31/11 filed April 9, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=77552
"...As of that date, there are 1,956,493 shares in the public float, and approximately 158 shareholders of record.
Item 6 The number of shares or total amount of the securities outstanding for each class of securities authorized. The Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value. Currently there are 861,956,493 shares issued and outstanding with 1,965,493 in the trading float.
The Company’s authorized Preferred Class A Shares consists of 5,000,000 shares $0.0001 par value with a conversion rate of 100,000 common shares
for each Preferred Class A share. Currently there are 10 Preferred Class A shares issued and outstanding.
The Company’s authorized Preferred Class B Shares consist of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for
every Preferred Class B Share. Currently, there are 3,500,000 Preferred Class B shares issued and outstanding.The Company has of record approximately 158 shareholders of record..."
D. Quarterly Report For Period Ending 3/31/12 filed May 3, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=80225
"...Item 2 shares outstanding.
As of March 31, 2012, the Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value
. Currently there are 861,956,493 shares issued and outstanding with 1,965,493 in the trading float.
The Company’s authorized Preferred Class B Shares Consists of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for each Preferred Class A share. Currently there are 4,100,000 Preferred Class B shares issued and outstanding. There are currently authorized 100,000 authorized Preferred Class A Shares, $0.0001 par value with a conversion rate of 100,000 to one. The Company has of record approximately 158 shareholders of record..."
E. Quarterly Report For Period Ending 6/30/12 filed November 2, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=93671
"...Item 2. Shares Outstanding. As of June 30, 2012, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,
000,000 preferred shares par value $.0001 authorized. Currently, there are 861,956,493 shares of common stock outstanding and no shares of Preferred stock outstanding. As of that date, there are 1,956,493 shares in the public float, and approximately 158 shareholders of record..."
F. Quarterly Report For Period Ending 9/30/12 filed November 29, 2012
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=95658
"...Item 2.Shares Outstanding. As of September 30, 2012, there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized. Currently, there are 724,980,550 shares of common stock outstanding and no shares of Preferred stock outstanding. As of that date, there were
19,726,558 shares in the public float, and approximately 155 shareholders of record..."
G. Annual Report For Period Ending 12/31/12 filed March 28, 2013
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=101684
"...Item 6 The number of shares or total amount of the securities outstanding for each class of securities authorized. The Company’s authorized Common Equity Consists of 2,000,000,000 shares of common stock $0.0001 par value and 20,000,000 shares of preferred stock.
Currently there are 726,830,550 shares issued and outstanding, of which 646,730,000 shares are subject to lockup agreements, with 46,976,558 in the trading float, of which 41,500,000 shares are subject to lockup agreements. The Company’s authorized Preferred Class A Shares consists of 5,000,000 shares $0.0001 par value with a conversion rate of 100,000 common shares for each Preferred Class A share. Currently there are 10 Preferred Class A shares issued and outstanding.
The Company’s authorized Preferred Class B Shares consist of 5,000,000 shares $0.0001 par value with a conversion rate of 50 common shares for every Preferred Class B Share. Currently, there are 3,882,500 Preferred Class B shares issued and outstanding. The Company has of record approximately 179 shareholders..."
H. Quarterly Report For Period Ending 3/31/12 filed May 15, 2013
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=104752
"...Item 2.Shares Outstanding.As of March 31, 2013,
there are 2,000,000,000 commons shares par value $.0001 authorized and 20,000,000 preferred shares par value $.0001 authorized. Currently, there are 751,989,550 shares of common stock outstanding, of which 646,730,000 shares are subject to lockup agreements and 3,882,500 shares of Preferred stock outstanding. As of that date, there were 38,976,558 shares in the public float, of which 41,500,000 shares are subject to lockup agreements, and approximately 155 shareholders of record..."
I. Quarterly Report For Period Ending 9/30/13 filed February 28, 2014
http://www.otcmarkets.com/financialReportViewer?symbol=VIRA&id=116784
"...Total shares outstanding: 753,663,750 shares of common stock outstanding, of which 646,730,000 shares are subject to lockup agreements and 3,882,500 shares of Preferred stock outstanding as of September 30, 2013.."
After the market closed today, two press releases were issued by Viratech Corp.
1. Viratech Corp. Announces Fred Schiemann as its New CEO
http://newswire.net/newsroom/pr/00090071-viratechceo.html
2. Viratech Corp. Announces Dr. Kevin Buckman as New Chief Medical Officer
http://newswire.net/newsroom/pr/00090072-viratechcmo.html
I think doe and Ken Eade have a history well before viratech, care to share.
video on Viratech
Another cool video on VIratech
This week in Viratech
I like how they put the weekly news of what they are doing on video
Viratech Videos Explaining How to Use the Viratech Network. Kinda of technical, but gives you a good overview of what this system does
Viratech Model Explained in Video
This Week in Viratech 11/30
Understanding the Dynamic Embed Badge- One of Viratech's technologies in creating contextual engagement funnels
This week in Viratech Video
Cancer.im Video