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There is a lot of misinformation on this board. I recommend getting on the phone and starting your email engine in a quest for facts.
I am not suggesting it is all malicious or ill-favored, but it is wrong. Just be prepared to speak to people who know very little (or are willing to speak of) about the way anything beyond their desk works.
Pastry: Thanks. Trying to get an accurate picture of
A. What has happened
B. What will happen
C. What may happen
Been on the phone quite a bit today with FDA, FINRA, SEC, and Broker/Dealers
But those are not OTC market trades, right?
NBDR - is someone showing OTC quotes for them?
he just got caught lying that the SEC had not been in contact with him
This one is still under the radar, but looks good for continuation of COVID-19 pandemic waves around the world.
FDA Language on Approval - High Bar?
Most of the FDA approvals have this language:
I. Criteria for Issuance of Authorization I have concluded that the emergency use of your product meets the criteria for issuance of an authorization under Section 564(c) of the Act, because I have concluded that:
1. The SARS-CoV-2 can cause a serious or life-threatening disease or condition, including severe respiratory illness, to humans infected by this virus;
2. Based on the totality of scientific evidence available to FDA, it is reasonable to believe that your product may be effective in diagnosing COVID-19, and that the known and potential benefits of your product when used for diagnosing COVID-19, outweigh the known and potential risks of your product; and
3. There is no adequate, approved, and available alternative to the emergency use of your product.5
Any guesses to how much money this scam pump produced in offshore accounts.
Berman's sole contractor from South Korea, is run by hedge funds and investors
Your post just proved they are not regulators.
Yes. He was very clear about that.
What a reasonable person would infer from any PR is shown to be useless because brokers have no requirement that a client be "a reasonable person" before opening an account. It is an assumption that could fall on really hard times. Does any governmental agency have a "this must be clear to a reasonable person" requirement for public company press releases?
Anything said by anyone anywhere is open to misunderstanding, and, on your view, de facto misleading.
Do we have any sense of the reliability of this rumored statement?
EDMGUY, Thanks for sharing that.
So DECN would need to have had reasonable assumption of access to multilple facilities like yours (or multiple production lines) in order to create hundreds of millions of units per year. How many production facilities like yours would you estimate exist worldwide?
I think the confusion of "up to" was from SEC.
The action notice stated: "DECN’s sales forecasts for the COVID-19 test kit that up to 525 million test kits would be sold in the first year of production."
The point I raise very early was that Mr. Berman never said anywhere that anything WOULD be sold, all was projection and expectation, plus I told the SEC investigator then what many have since posted here: "up to" is used by thousands of companies daily with no repercussions. The statement as he made it and as they referenced it can be fulfilled by selling one test kit. They know that. That's why I (along with you and others) think there is much more here than meets the eye. BP has to be terribly nervous IF there DECN's claims are credible.
From PRs:
3/11 “We anticipate the sale of 420,000,000 kits in the first full year of commercial sale.”
3/16 – “We expect the vast majority of the 420 million test kits we plan to manufacture in the first year of production will be sold to individuals for self-testing."
3/17 “We are happy to inform all interested parties that we have raised our 12-month forecast to 525 million kits.”
His final clarification was on 4/23:
"While the FDA assesses how to move forward with this technology, the company is moving to work with a large health care products distributor who has already received requests for the GenViro! Swift kits. Outlets ranging from Fortune 50 corporations to professional sports leagues have shown strong interest. The company estimates it will be asked to produce 1 million "Swift Kits" per month through the end of the year just for the "back to work" markets, based on the rapidly building demand."
Notice: 1M/month = much reduced = adjusted
estimates
anticipate
expect
plan
forecast
The SEC will love it!
rather pumping the April 23 PR to juice the DECN share price
George Sharp Says It - It Happens!
@GeorgeASharp
"16 days after I filed my complaint about the $LITH scam, the SEC suspends the stock."
16 days after I filed my complaint about the $LITH scam, the SEC suspends the stock.https://t.co/niLXzBPHAR
— George Sharp - Advocate for truth in the OTC (@GeorgeASharp) April 10, 2020
Think Mr. Sharp may be drumming up some business with all of these called suspensions, like DECN?
"George and his team are offering consulting services to broker-dealers, securities depositories, market makers, investors, attorneys, and a select few publicly traded companies, to assist with:
Caveat Emptor Tag Removal"
among other things they offer . . .
http://www.clippercorporatepartners.com/p/service-to-public-companies.html
[quote} questions regarding the accuracy and adequacy of information [/quote]
Grammar and syntax matter to most of us. Your statement was inaccurate.
One of two things is true:
1) The SEC intentionally misleads people to think they are suspending (which in itself suggests 'temporary,' but which they know will cause a violation of listing rules, so it is not really temporary unless you then do X, Y, Z, A, B, . . .) due to questions that can be answered, but they really have already decided.
2) The SEC actually suspends a company's stock for questions, not reasons, about the things they list.
Can't have it both ways, unless you are a relativist.
Whatever happens tonight, I assure you that by tomorrow afternoon, I will know the difference, without fail.
The kids are right: truth = true "to you"
DECN will:
1. Prove it has a legit product and its claims about that product were legit and eventually recover to trade on OTC or uplist
OR
2. Not prove either, be delisted to greys and trade as all greys do
OR
3. Not prove either, be delisted to greys and die a slow, grey death
a company whose shares have been suspended for issuing misleading PRs
The SEC would not tell Bozo Berman who they want to sanction.
The Production Language Berman Used:
From PRs:
3/11 “We anticipate the sale of 420,000,000 kits in the first full year of commercial sale.”
3/16 – “We expect the vast majority of the 420 million test kits we plan to manufacture in the first year of production will be sold to individuals for self-testing."
3/17 “We are happy to inform all interested parties that we have raised our 12-month forecast to 525 million kits.”
His final clarification was on 4/23:
"While the FDA assesses how to move forward with this technology, the company is moving to work with a large health care products distributor who has already received requests for the GenViro! Swift kits. Outlets ranging from Fortune 50 corporations to professional sports leagues have shown strong interest. The company estimates it will be asked to produce 1 million "Swift Kits" per month through the end of the year just for the "back to work" markets, based on the rapidly building demand."
Notice: 1M/month = much reduced = adjusted
estimates
anticipate
expect
plan
forecast
NOWHERE does he use the word will
The ONLY question is: did they have or would they have manufacturing capability/access to back up those numbers?
Johnny, what you can be sure of is
that many things will be questioned, researched, and evidence sent in from many people over the next 9 business days regardless of what Berman says or does. It's not just the little people that were caught off guard here . . .
I don't know, but it seems the biggest fear here is the irrational assumption that all is lost due to the SEC temporary-10day-suspension-that-leads-to-grey-market-death. Nothing else seems to matter. If they CAN separate the two tests, will that overcome the suspension and grey-death? This grey-death is the fear of many here and abroad.
It is something to consider, but at this point Berman's response or lack thereof holds the key.
I suggest you file a Freedom of information Request
Johnny messaged me last week and told me that he use to work for a Market Maker. Hmmm...
Johnny, you know so much non-public information!
DECN had its chance to address questions, and it appears they did not do a good job according to the SEC
I will leak one thing. Berman was given a list of stock traders who the SEC is looking to formally sanction and asked to comment. I wonder who is on that list
Good. I hope Berman keeps his mouth shut and gets his brain in gear and reaches out to the right people so he can (if possible) demonstrate to all the rest of us what he has been proposing. I have made this clear to him as well. He can speak when he has something of substance to say that is fully supported by the right kinds of evidence (which he should have . . . ).
I think this suspension is not like many others on OTC due to one important reason: the rash of suspensions by the SEC related to one concern - COVID-related stocks. The SEC has its hands full and it's employees are just as liable as anyone else to make unintended or not fully researched mistakes when overwhelmed.
Explain to me why they needed to have a PR stating there will be a PR?
Never heard of a PR to announce an update?
Just three recent examples . . .
https://www.cnn.com/business/newsfeeds/prnewswire/202003250917PR_NEWS_USPR_____LN59468.html
https://finance.yahoo.com/news/annaly-capital-management-inc-announces-201500632.html
https://www.globenewswire.com/news-release/2020/02/10/1982393/0/en/Generex-Biotechnology-Announces-Corporate-Update-and-Investor-Conference-Call-Addressing-the-Coronavirus-Pandemic-with-Ii-Key-Peptide-Vaccines-Thursday-February-13-2020-at-11-00-AM.html
Johnny C knows what Finra is investigating? - how? By his own public admission Johnny knows
either that "Finra has been interested in Berman and one of his pals from the Platinum days for a while now"
OR that Finra has NOT "been interested in Berman and one of his pals from the Platinum days for a while now"
Because he said: "I know the answer"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155260362
OR did Johnny in his exuberance overstep what he really knows and make an exaggerated claim much like the one of which he accuses Mr. Berman?
SEC suspends for questions or reasons?
The SEC's own action states that their motivation in the suspension was "questions," which, unless you are unfamiliar with grammar and syntax, suggests "answers" are not yet given. Red and blues behind you . . . you stop . . . cop says, "I have questions" . . . you get out - get handcuffed - taken to jail -booked in jail for 10 days . . . without ever a chance to answer the questions . . . and then released, not to go home, but to go to Reform School, and the public entity that arrested you has no accountability . . . sound like America in 2020? The SEC did not say (nor do they ever say) "we discovered that . . .," which makes the entire process look very shady for any stock ever suspended. Now, it could be that "questions concerning" ends up being a language game where the words actually mean (to the SEC) something like: "we have discovered all we need to discover in order to suspend, but none of you will ever know if or what we discovered." In that case, all bets are off and the motivation lies shrouded in mystery.
Those of you who claim there has already been an investigation and the SEC has final results . . . where's the proof? Please don't embarrass yourself by saying "the suspension."
It is possible that those who bought based on the "quick test helps America get back to work - and we will have more virus attacks in the future so we will need these tests" idea were scammed. But I will need much more evidence than is currently being promulgated by the shorts/bears on this board and others elsewhere before I concede that. It remains true for me that even if this stock goes to grey market, that in itself is not evidence that it is a scam.
To what did the "perfected" language refer?
It seems Berman was referring to the impedance technology used in the diabetic strips.
When he said on 3/3 "We have the technology perfected which will take months off the development schedule he was referring to the impedance technology, which he clarified on 3/4: "What makes the testing for the Coronavirus possible, and the GenUltimate TBG special, is the company's Impedance measurement technology." Then, the careful reader would have noted that on 3/11 he came back and clarified further: "Because we perfected the Impedance technology in 2019 for our GenUltimate TBG glucose test strip and meter, we have shaved months off of the development time for the GenViro! device."
It all depends on whether you want to interpret words out of context or in the context in which they were originally written and read widely enough to be able to separate the two. Clearly the SEC, IF they suspended DECN based in part on the "perfected technology" language, did not read very widely nor interpret in context.
You can forecast and change as more evidence becomes available. See National Weather Service for protocols! LOL!
Twitter Guy George Sharp a bit TOO sharp?
And he is very open about his ability to accurately forecast which OTC companies are about to be suspended by the SEC . . . and he has been very accurate over the past few days . . . pay attention - if it's too good to be true . . .
All suspended companies heavily shorted before suspension?
I may dig into this later.