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Thanks for the advice.
I am pro NEOM. I own NEOM. No ties to the alleged.
success622 - Your note I think may not be accurate. Hedge funds want to make money. With the warrants received from NEOM they buy below what you and I buy at and then sell much higher, 200 million shares higher in NEOM's case.
Thanks for the clarification. What this means is Cornell has sold @2oo million shares. I would say that has kept the price down. With average volume @2 million shares a day that is about 100 trading days worth of sells. Also, on Cornell's website NEOM is not listed as part of their portfolio. Does that mean they have execised all of their warrants?
In the filing this is one of the notes.
2) Cornell Capital Partners LP holds a warrant to purchase up to 50,000,000 shares of NeoMedia common stock at an exercise price of $0.20 per share. However, the warrant contains a provision that Yorkville may not own more than 9.9% of the outstanding shares of NeoMedia. Beneficial ownership is therefore limited to 9.9% of NeoMedia's outstanding shares. The address of the referenced shareholder is 101 Hudson Street, Suite 3606, Jersey City, NJ, 07302.
Is Yorkville Cornell Capital?
PVC
Check out page 18 of the just released S-3,A. It details the sales and deal with Cornell. It is disturbing to me that they have such control.
They may not own it now but according to the 10Q
During the years ended December 31, 2004 and 2003, we sold 112,743,417 and
98,933,244 shares, respectively, of our common stock to Cornell under the
Standby Equity Distribution Agreement and Equity Line of Credit.
Okay so according to the last 10Q we had 305,327,410 June 30, 2004. Then we go forward a year to June 30, 2005 we have 448,777,048 shares in circulation and that is a good thing? Also Cornell owns over 200 million shares. Is this a good thing?
Alwaysright,
I appreciate your comments and the manner in which they were delivered. I hope this stock does well for all of us.
The reason I started my comparison in August was that was when I bought GOOG. I did not make that clear.
Cheers
Lenshawn - Thanks for the "key" to investing. And yes I can read. Have you read this from the 10Q?
During the six months ended June 30, 2005 and 2004, NeoMedia's net loss
totaled $3,519,000 and $4,053,000, respectively. As of June 30, 2005, NeoMedia
had accumulated losses from operations of $86,896,000, had a working capital
deficit of $3,418,000, and $7,075,000 in cash balances.
Also:
There can be no assurances that the market for NeoMedia's stock will
support the sale of sufficient shares of NeoMedia's common stock to raise
sufficient capital to sustain operations for such a period, or that actual
revenue will meet management's expectations. If necessary funds are not
available, NeoMedia's business and operations would be materially adversely
affected and in such event, NeoMedia would attempt to reduce costs and adjust
its business plan.
I loved the chart alwaysright. My chart with GOOG started the first trading day of August, 2005. Each of my shares has made me $100. The same NEOM timetable has made exactly zero. It is the difference between potential and reality. NEOM needs to get some revenue flowing. Instead of challenging me we should be challenging management.
What brought me here? The same as you and everyone else here on the board. Information, leads to information, thoughts concerning this company, etc. With OTCBB stocks information is scarce. This is a big world and the more involved with coming up with information the better decisions one can make. I have followed this company for two years and still there is no revenue. Maybe this is the next Google as Bodreaux implies but execution of the right plan is important. MANY companies don't make it. They lose sight of what is necessary and what their priorities should be along with other factors.
A better question Lenshawn is why am I posting. I am posting because there seems to be no differing opinions on this board. I am not bashing anyone, or this stock actually. I want the companies I own to make money. That is why I own them so they can appreciate and therefore make me money. I am just offering an opinion that seems to differ with the majority on the board. When will there be revenue? It bothers me management does not tell us.
Google's first quarterly results as a public company was nearly 806 million dollars. How long before NEOM makes that much?
Yes this is interesting. Alsmost everything that has been discussed on this board the last year plus has been interesting. But again I ask where is the revenue? Word registry has been launched. Who has lined up to use it? Where is the revenue? Earning are what stocks/companies need to survive and thrive. Sorry if I ask the hard question that people may not want to discuss. Where is the revenue? I do not see it.
Why was my message removed from the board? I ask where is the revenue from this company?
06:32 MSFT Microsoft will unveil Internet push - WSJ
The WSJ reports that Bill Gates, Microsoft's chmn and chief software architect, this week will address a critical challenge facing the co: making software that better suits the Internet. Microsoft is holding a briefing in San Francisco Tue, at which Mr. Gates and Microsoft CTO Ray Ozzie will discuss the co's response to the trend. Though officials wouldn't comment in advance of the event, people familiar with the co's plans are expecting the men to disclose new plans for combining programs such as Windows and Office with additional features and services that can be accessed over the Internet or corporate networks. The strategy could speed Microsoft's delivery of technical improvements, a sore point for customers waiting for major upgrades of important programs. They also could affect how Microsoft makes money; the co could charge subscription fees for software services, couple them with advertisements, or even give them away. "It's a big change in the Microsoft business," said Rob Helm, director of research at Directions on Microsoft.
Sorry if this was already posted (did not see it).
AXCLR846
What makes this a good entry point? I don't see the advantage to getting in now. The chart is steadily going down since the pop for the "record revenue" and positive earning announcement.
Futrcash -
As in Jean Claude Bonhomme?
Thanks futrcash.
Northrock.
How about some response...and not oops I did it again...
ON Pinksheets.com this is what is listed for BIGN:
Officers:
Gary Kelley, Pres., CEO & Dir.; Paul Smith, VP, Sec't. & Treas.; Rick DeRosa, Dir.
Northrock?
Good post zigbee, especially for newbies. I agree I don't think this will fall much more. Gas prices are moving up as we speak and that can only help this growth company. I also am accumulating share on dips. We need real revenue statement though not more projections and this will move quickly up.
Most people are waiting to see if this company can actualize their plan. It took them a while to get their gas and oil interests moving. Now people are waiting to see if their plan comes together and for the Refco fall out to subside(gas and oil prices need to move up too). I do think that the credit facility is great news for investors. No dilution and quicker expansion which means quicker revenue generation and the ability to pay back the loans: always a good thing.
I agree. This stock is in consolodation. It will be moving up with revenue announcement.
Here is more news:
Genentech Inc. signed a deal with a nonprofit foundation in Burlingame to study the use of its colorectal cancer drug Avastin as a treatment for brain cancer.
The Food and Drug Administration approved Avastin in February 2004 for colorectal cancer treatment. The drug interferes with angiogenesis, or the growth of blood vessels, in tumors. Genentech has been exploring its use for other types of cancer, including kidney, breast and ovarian.
This baby is a profit machine.
Huge News:
Herceptin ‘Simply Stunning’ For Breast Cancer
Jeremy Laurance
in London
Oct. 20. — In the sober world of medical journals, the choice of language is unprecedented. The first trials of the breast cancer drug, Herceptin, in women with early stage disease are “simply stunning,” the New England Journal of Medicine (NEJM) says today.
They reveal “a dramatic and perhaps permanent perturbation in the natural history of the disease, maybe even a cure.” The results are, it concludes, “revolutionary, not evolutionary” adding: “Our care of patients with HER II positive breast cancer must change today.”
Medical journals rarely speak of a cure for cancer. Women treated with Herceptin had a 46 per cent reduced risk of their breast cancer returning. The drug works on patients sensitive to the protein HER II, who number 8,000 to 10,000 in the UK, 20 to 25 per cent of those newly diagnosed with the disease.
The headline results were presented at a conference in Orlando, Florida, last May, when US specialists gave the researchers a standing ovation, and are published in full for the first time today. No drug, not even tamoxifen the gold standard in breast cancer for over 30 years, has shown such a significant reduction in risk in so short a time (one to two and a half years), the journal says.
Breast cancer charities were exultant yesterday. Dr Jeremy Hughes, chief executive of Breakthrouugh Breast Cancer said: “This is one of the biggest breakthroughs in breast cancer treatment. It is vital that this drug, which is set to save around 1000 women’s lives a year, is made available on the NHS without delay.”
The results helped boost sales for Roche, the Swiss based pharmaceutical company, which reported third quarter profits up 20 per cent yesterday. Roche also makes Tamiflu, the drug being stockpiled by countries around the globe as a defence against the threatened pandemic of avian flu.
The research on Herceptin triggered a worldwide demand for the drug even before it was licensed for early breast cancer (it is currently licensed only for advanced breast cancer that has spread to other organs). The trials reported in the NEJM involved 3,000 women in the US and 5,000 women in 39 other countries who were randomly allocated to treatment with Herceptin following chemotherapy.
The discovery that Herceptin only works in certain women demonstrates that breast cancer is not one but several diseases and marks a new era in cancer research. Instead of screening thousands of compounds to find one that works — the traditional mode of drug discovery — scientists are now designing drugs to target specific receptors identified as playing a role in cancer at the molecular level.
Smartire is in the right place. They need to watch cash flow, but Homeland security requirements, transportation department regs, and the need to cut costs in transpotation industry puts Smartire in the middle of it all. Their technology (little black box) will enable companies to save tons of money and be able to monitor equipment and people very effectively.
So did you load up restripe?
Which Monday?
Boom baby...here we go. Get on before the rides ends.
Approval letter received! Great news for all of us Insmed investors...
This is good news for us!
Form 8-K for INSMED INC
--------------------------------------------------------------------------------
15-Sep-2005
Sale of Equity
Item 3.02 Unregistered Sales of Equity Securities
Between August 19, 2005 and September 13, 2005, Insmed Incorporated received notices from holders of its 5.5% Convertible Notes due 2008 - 2010 electing to voluntarily convert $10,176,000 principal amount of Convertible Notes into 7,857,915 shares of common stock at the conversion rate of one share of common stock for each $1.295 in principal amount of the Convertible Notes.
The common stock issued upon the conversion of the Convertible Notes was issued in reliance upon the exemption from the registration requirement of the Securities Act of 1933, as amended, provided for in Section 3(a)(9) thereof and is currently registered for resale by the holders pursuant to Insmed's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on August 8, 2005 (the "Registration Statement").
Following the conversions described above, $24,824,000 principal amount of the Convertible Notes remained outstanding. In addition, because certain of the Convertible Notes were converted prior to the September 1, 2005 quarterly interest payment, the Company issued an additional 67,820 shares of common stock for the forfeited cash interest payment at a conversion price of $1.295. A summary of the terms of the Convertible Notes, including the conversion features and interest payments was previously provided the Registration Statement and Insmed's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 16, 2005 (the "Current Report"). The form of the Convertible Notes was filed with the Current Report. The Registration Statement, the Current Report and the form of Convertible Note are each incorporated herein by reference.
The latest press release about financing.
27-Jul-2005
Entry into Material Agreement, Termination of Material Agreement, Financia
Item 1.01 Entry into a Material Definitive Agreement
On June 23, 2005, we entered into a $160.0 million Standby Equity Distribution Agreement with Cornell Capital Partners, LP for the future issuance and purchase of shares of our common stock. This Standby Equity Distribution Agreement establishes what is sometimes termed an equity line of credit or an equity draw down facility and replaces our previous $30.0 million Standby Equity Distribution Agreement, which was terminated by the parties on June 23, 2005. Cornell Capital Partners is a private limited partnership whose business operations are conducted through its general partner, Yorkville Advisors, LLC.
In general, the draw down facility operates like this: Cornell Capital Partners committed to provide us up to $160.0 million as we request it over a 24-month period (or a five-year period if we file either an amendment to the then effective registration statement or a new registration statement is declared effective after the 24th and 48th month after June 23, 2005), in return for common stock that we will issue to Cornell Capital Partners. In addition, we engaged Newbridge Securities Corporation, a registered broker-dealer, to advise us in connection with the equity line of credit. For its services, Newbridge Securities Corporation received 75,188 of shares of our common stock. As of June 23, 2005, we have $160.0 million available under this facility. We may request an advance every seven trading days. The amount of each advance is subject to a maximum amount of $3.0 million every seven trading days. A closing will be held six trading days after such written notice at which time we will deliver shares of common stock and Cornell Capital Partners will pay the advance amount. For each share of common stock purchased under the equity line of credit, Cornell Capital Partners will pay 98% of the lowest closing bid price on the OTC Bulletin Board or other principal market on which our common stock is traded for the five days immediately following the notice date.
We have agreed to pay to Cornell Capital Partners a cash fee of $16.0 million in connection with the Standby Equity Distribution Agreement, and Cornell Capital Partners will retain 5% of each advance under the equity line of credit. The issuance of these shares is conditioned upon us registering these shares with the Securities and Exchange Commission. We may request advances under the equity line of credit once the underlying shares are registered with the Securities and Exchange Commission. We may continue to request advances until Cornell Capital Partners has advanced $160.0 million or two years (or 5 years if we file either an amendment to the then effective registration statement or a new registration statement is declared effective after the 24th and 48th month after June 23, 2005) after the effective date of the accompanying registration statement, whichever occurs first.
The amount of capital available under the equity line of credit is not dependent on the price or volume of our common stock. Cornell Capital Partners may not own more than 9.9% of our outstanding common stock at any time. Because Cornell Capital Partners can repeatedly acquire and sell shares, this limitation does not limit the potential dilutive effect or the total number of shares that Cornell Capital Partners may receive under the equity line of credit.
We cannot predict the actual number of shares of common stock that will be issued pursuant to the equity line of credit, in part, because the purchase price of the shares will fluctuate based on prevailing market conditions and we have not determined the total amount of advances we intend to draw. Nonetheless, we can estimate the number of shares of our common stock that will be issued using certain assumptions. For example, we would need to issue 1,000,000,000 shares of common stock in order to raise the maximum amount under the equity line of credit at a net purchase price of $0.16.
In connection with the execution of the Standby Equity Distribution Agreement, on June 23, 2005, we entered into a Registration Rights Agreement with Cornell Capital Partners pursuant to which we agreed to prepare and file with the Securities and Exchange Commission a registration statement on Forms S-1, SB-2 or on such other form as is available under the Securities Act of 1933, as amended. We must cause such registration statement to be declared effective by the Securities and Exchange Commission prior to our first draw down on our new $160.0 million equity line of credit and the first sale to Cornell Capital Partners of our common stock pursuant to the Standby Equity Distribution Agreement.
On June 23, 2005, we also entered into a $30.0 million Securities Purchase Agreement with Cornell Capital Partners and Highgate House Funds, Ltd. pursuant to which we agreed to issue 10% convertible debentures and warrants to Cornell Capital Partners and Highgate House Funds. The $8.0 million convertible debenture issued to Cornell Capital Partners, the $2.0 million convertible debenture issued to Highgate House Funds and the warrants issued were amended and restated on July 21, 2005 to designate Cornell Capital Partners and Highgate House Funds, as applicable, as the trustee for LCC Global Limited, a corporation organized under the laws of Cyprus, under the respective convertible debentures and warrants. In accordance with the Securities Purchase Agreement, we issued, pursuant to Rule 506 of Regulation D under the Securities Act, for a purchase price of $30.0 million, (i) a 10% convertible debenture due June 23, 2008, with a principal balance of $20 million, to Cornell Capital Partners, as trustee for LCC Global Limited, (ii) a 10% convertible debenture due June 23, 2008, with a principal balance of $8 million, to Cornell Capital Partners, as trustee for LCC Global Limited and (iii) a 10% convertible debenture due June 23, 2008, with a principal balance of $2 million, to Highgate House Funds, as trustee for LCC Global Limited. The outstanding principal under the convertible debentures bears interest at the rate of 10% per annum, calculated on the basis of a 360-day year.
With respect to the $20.0 million convertible debenture issued to Cornell Capital Partners, principal will be due and payable in 32 equal installments. The installments of principal will be due and payable commencing on November 1, 2005, and subsequent installments will be due and payable on the first day of each calendar month thereafter until the outstanding principal balance is paid in full or the $20.0 million convertible debenture is converted in full. Interest on the outstanding principal balance will accrue as of June 23, 2005 and be due and payable monthly, in arrears, commencing on November 1,
2005, and will continue on the first day of each calendar month thereafter that any amounts of the convertible debenture remain payable. In lieu of making an interest payment in cash we may elect to make interest payments in shares of our . . .
Item 1.02. Termination of a Material Definitive Agreement.
See Item 1.01 above for information regarding the termination of our $30.0 million equity line of credit with Cornell Capital Partners and its replacement with our new $160.0 million equity line of credit.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
See Item 1.01 above with respect to our issuance of $30.0 million in 10% convertible debentures.
This thing should have gone up another 30% today. It was flat out manipulated. I watched all day long as they kept pushing it down. Once the accumulation is done this will pop nicely.
I emailed the company about the Stocklemon.com report. Here was there reply:
Janine Brannick <jbbrannick@sbcglobal.net> wrote:
No, the negative article was not correct and as soon as we can we will have a press release out to overcome what has happened to the stock.
My apologies for this as it was a horrible thing for someone to do to a company such as ours.