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I'm not their lawyer(s). I don't know. Different lawyers interpret this differently. I know Matt has said many times that mngt. windows have been very narrow. But I'm still buying...if that is any solace.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
A fact of which he is aware.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
They "chill" first, ask questions later.
And if you "google" it, you will find numerous companies who were chilled but don't know the reason.
This seems to be standard operating procedure...and frustrating when you are trying to do the right thing.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Cayman is where you register to do business in China.
Very normal occurrence.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
He can't. The financial quarterly numbers are coming in. There are very brief windows when he can buy (lawyers decide) and now is not the time.
I buy also. My issue is a little different. But I try to be very careful not to buy when we have information for a news release that has not yet been issued.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Holter: We can speculate, guess surmise and think that most be it. But we don't know. We simply do not know.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
All Corcell affiliates store in Las Vegas. Argentina franchises store at biocells, European store at stellacure
CCMEX has their own storage facility in mexico. No need to speculate on the future since it isn't here yet.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
This is what the Company submitted, believed, signed to, with significant penalties if not true, and stands by. What else can I say?
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
This is what CBAI had to say about the "chill" in its SEC filing:
In March 2011, the Company, through outside counsel, had a conversation with the DTC during which a number of items were discussed, though no reasons were given for the DTC’s “chill” of the Company’s stock. Among the issues discussed were: whether an investor in the Company was a registered broker dealer under the
Securities and Exchange Act of 1934, and if not, whether it needed to be; the details regarding the “free up” from restriction of shares issued to an investor; and whether an investor could be construed to be a “Control Person” under the 33 Act. The Company does not believe the DTC considered the Company to be in violation under any of the foregoing circumstances at the time of the conversation, only that the DTC wanted to discuss the issues with the Company. In response to and as a follow up to the discussion, the Company provided a letter, along with accompanying materials in April 2011 in an effort to alleviate any of the DTC’s potential concerns, though again, no reasons for the “chill” were actually cited by the DTC during the discussion.
Within the past 45 days, the Company has had additional discussions with the DTC and its outside counsel regarding the “chill.” The DTC requested that some additional information be added to an opinion that was submitted by the Company to the DTC in June 2011. The additional information included: an itemization of the dates share issuances were made by the Company to holders during a timeframe from January 2009 through September 2010; a statement that no “additional consideration” was paid at the time of conversion under any warrants or convertible notes during this timeframe; a statement that the share issuances at issue were made by the Company to the holders, and not to the holders from a third party; and information indicating that none of the holders has owned more than 9.99% of the Company’s outstanding stock at any given time. The Company does not believe the DTC was under the impression the Company was in violation under any of these scenarios, but merely that the DTC wanted this information stated in the aforementioned opinion. The Company had previously given much of this information to the DTC in some format or another. The Company submitted this information, in and/or along with an opinion of outside counsel provided by the Company to the DTC on August 16, 2011, and then again on September 2, 2011, at the DTC’s request.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
No cop out.
This is from CBAI's filings. Again, this makes clear we do not know the specific reason DTC did what it did.
In March 2011, the Company, through outside counsel, had a conversation with the DTC during which a number of items were discussed, though no reasons were given for the DTC’s “chill” of the Company’s stock. Among the issues discussed were: whether an investor in the Company was a registered broker dealer under the
Securities and Exchange Act of 1934, and if not, whether it needed to be; the details regarding the “free up” from restriction of shares issued to an investor; and whether an investor could be construed to be a “Control Person” under the 33 Act. The Company does not believe the DTC considered the Company to be in violation under any of the foregoing circumstances at the time of the conversation, only that the DTC wanted to discuss the issues with the Company. In response to and as a follow up to the discussion, the Company provided a letter, along with accompanying materials in April 2011 in an effort to alleviate any of the DTC’s potential concerns, though again, no reasons for the “chill” were actually cited by the DTC during the discussion.
Within the past 45 days, the Company has had additional discussions with the DTC and its outside counsel regarding the “chill.” The DTC requested that some additional information be added to an opinion that was submitted by the Company to the DTC in June 2011. The additional information included: an itemization of the dates share issuances were made by the Company to holders during a timeframe from January 2009 through September 2010; a statement that no “additional consideration” was paid at the time of conversion under any warrants or convertible notes during this timeframe; a statement that the share issuances at issue were made by the Company to the holders, and not to the holders from a third party; and information indicating that none of the holders has owned more than 9.99% of the Company’s outstanding stock at any given time. The Company does not believe the DTC was under the impression the Company was in violation under any of these scenarios, but merely that the DTC wanted this information stated in the aforementioned opinion. The Company had previously given much of this information to the DTC in some format or another. The Company submitted this information, in and/or along with an opinion of outside counsel provided by the Company to the DTC on August 16, 2011, and then again on September 2, 2011, at the DTC’s request.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
The filings show areas DTC asked about and how we provided what they asked. The specific, exact reason why DTC chilled, we do not know, they would not tell us.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
No, they did everything the DTC asked of them, including extensive paperwork, they said in news releases. And they tried 50 times with formal calls to the DTC asking for a reason for the chill and the DTC never told them. It simply is DTC policy, the DTC is answerable only to the brokerage industry, and this experience, and numerous others found using Goggle, are similar to what CBAI went through in trying to elict why the DTC chilled the stock.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
That's why I posted a news release from another company whose legal team had made 50 calls, 50 documented calls, to the DTC and still did not know why it was chilled. It is the way the DTC does business.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
I understand. I'm a shareholder. I'm taking a huge shave and haircut also. Truly, I have dealt with hundreds of CEOs over the years. Some were successful, some not, and, in the micro cap sector these days, the job is even tougher. But I just believe that there is the rare right combination here of sector, international presence, and sound business plan. I know it has had its rocky moments. Few companies are lucky enough to avoid that. But I believe. And if that sounds pollyanish, so be it.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Couldn't agree more.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
We've given you our perspective on this.
There is not much more to say.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Interesting ideas. But we are in discussions with the DTC on the chill, a chill which has been detailed in SEC filings. Now is the time to resolve this. There is not much to say about the LOIs but what we have said: With the chill in place, money is more expensive and company will be cautious.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Asked and answered.
I could also blame a lousy stock market and a worse economy, but you know that already.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
The stock would trade in such slow motion that it would be futile.
Remember the on-line brokerages and discount brokerages would all again shut us down. Transfer agents tend to be 2-3 people outfits that couldn't handle significant volume.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
I agree that we are doing everything we can to get unchilled.
And I believe this company will survive and thrive.
Great sector, great international presence, young, aggressive, talented management.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Well, no.
We've talked with DTC experts and attorneys involved in the sector throughout.
The advice is and was: Sue the DTC, and your stock will shut down.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Yup: The DTC.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Well, no.
File suit against the DTC and everything stops.
Would that be wise?
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
The stock opened at $0.20 after the reverse and was soon $0.50 intra-day. Then the DTC refused to do its job and did not electronically move stock back to brokerages. It took up to eight weeks for some shareholders to be able to trade again on on-line brokerages and discount brokerages. Although not our fault, we took an enormous hit to our credibility and we need to restore that and will work hard to do so.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
If you take the DTC to court ALL stock activity will end. And the court case might take years. You want that?
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Booger Red: Most intelligent post I've read herein.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
CBAI sent this message today to shareholders:
We get occasional questions about our partnership in China. China Stem Cell, Ltd. now has both private customers and donated stem cells stored at its facility. The Company has already provided stem cells for a transplant operation and has contracts signed with hospitals in China. Because of the one child policy in that nation, and the reverence with which parents hold that one child, the Chinese appear to be storing stem cells at rates greater than in the U.S. and Europe.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
How do you figure?
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
But very true.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Have heard no change from CBAI.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
SEC to release.....
SEC
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Well, it's one of those situations where it doesn't matter if we are making "headway." We simply have to get unchilled. There has been dialogue, we've provided them everything and more, and we remain hopeful.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
We are understanding that the letters and correspondence we received and comment on are confidential until such time that the SEC decides to make them public...that is why they are never part of the filings.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
I better be or the mortgage won't get paid.
Paul Knopick
Was asked about today's amended 10Q filing.
It is because of an SEC inquiry about a note in the 10Q.
Not at all an unusual thing.
These are the new words.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
The business purpose of the transaction is to provide working capital as the Company continues to build its business model through both organic growth and accretive acquisitions. The Company is able to access liquidity and working capital as amounts are advanced under the "Secured & Collateralized Promissory Note"
issued by JMJ. As these amounts are advanced by JMJ, the note receivable from JMJ is reduced, and the note payable to JMJ is offset by the note receivable from JMJ balance, and the net payable is recorded on the books, in accordance with ASC 210-20-45.
No, not really.
Although what I get most often to my e-mail or voice mails are notes from people who don't know much about the market and who get scared away from a stock because of the "negative" postings.
Just trying to answer shareholder (and potential investor) inquiries.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Couldn't disagree more.
His life totally tied up with CBAI.
"Frozen" is a board position, and execs are asked to sit on other boards and philathropic boards.
Want something done right, ask a busy person.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
No Sir.
Not true.
We've even done news releases on successes.
Public storage is great, but you still have to hunt for a "match." With storage at CBAI, it is guaranteed.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
I'll relook at it. Sorry.
Sometimes I move too quickly.
Thanks for pointing out.
Paul Knopick
pknopick@eandecommunications.com
949.707.5365
Cop-out?
Do you realize how many questions about the "past" I answer day in, day out, including some already herein today.
Cop-out?
Paul Knopick
pknopick@eandecommunications.com
949.707.5365