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Construction of the new facility is proceeding. A monthly update on construction progress and current photos could easily be posted on Xechem's website.
Likewise, it is likely that Nicosan production -- and the number of SCD patients taking Nicosan -- has increased since the second and third dryers were added. If so, a PR discussing this increase would certainly not be "fluff."
Xechem has been working on a distribution system. Negotiations continue with the Nigerian government for a prepurchase agreement. Why no updates on these matters?
Scott is not "too busy" to do these things; they are part of his job description. Why would management hire Scott as Director of Investor Relations, and then prevent him from doing his job?
Is managment intentionally trying to depress the pps? If so, why? To enable Nigerians to buy cheap XKEM shares (when they have had several months to buy on the cheap already)? Isn't it more likely that wealthy Nigerians will buy shares in Xechem Nigeria when they are available?
Or is the strategy to keep pps low so Blech's shares can be purchased by a third party as cheaply as possible? If this theory were correct, I would question managment's commitment to the retail investor.
I have no answers, just questions, and I can only conclude that something is happening about which I have no knowledge.
BDB
I too sent an email to Scott English this morning, and I too received a prompt response.
I agree that the lack of communication to shareholders is in no way Scott's fault, but is the result of orders from above.
I wonder how high "rewarding the patient investor" is on management's lists of priorities? Dr. Pandey talks a good game, but will he (can he) deliver?
The only positive spin I can put on management's lack of coummunication -- or any effort to promote the pps through real PR's -- is to invoke the theory that management wants to keep the price down to facilitate the buyout of Blech's remaining shares. If that is not true, what possible justification can there be for the abject failure of management to support the share price?
Since Scott was hired as Director of IR, the old excuse of "we're too busy" just won't wash.
BDB
Drifter: There are three weeks left in the second quarter, and, with the possible exception of the Blech tribe, it's hard to imagine that many XKEM longs are happy now.
If good things are indeed happening, the only way retail investors will discover them is by reading this board or doing their own DD. Notwithstanding the hiring of Scott English, Xechem's IR department remains on the MIA list.
So, will XKEM investors be happy during the third quarter? If so, why?
I do not anticipate a significant, sustained upward movement in the pps until:
(1) The new plant has been constructed, all equipment brought online, and the facilities have been approved by NAFDAC (or whatever agency has responsibility for approval);
(2) The Blech connection has unloaded substantially all of its bargain basement shares; and
(3) Revenue is actually increasing exponentially on a quarter by quarter basis.
And, my analysis assumes that the OS isn't significantly increased beyond its current hefty size (via, e.g., the grant of generous options to officers and key employees).
Over the past year I have recommended XKEM as an investment to various friends, several of whom purchased shares. My advice now would be to wait until early 2008 before making a major investment in XKEM, in order to see whether the anticipate milestones are achieved, and to better determine whether Dr. Pandey does in fact intend to reward the "patient" investor.
Because that, my friends, is really the bottom line. As the world turns today, it would be difficult for me to argue persuasively that Dr. P. -- or whoever is really calling the shots at Xechem -- places a high priority on the fate of the retail investor.
As one of the characters in Spinal Tap notes: "money talks and b******* walks." Well, Dr. Pandey (Mr. Burg, Mr. English, et al.), it's time for some serious talking.
BDB
light: Hope this situation is resolved in a positive way. Good luck! BDB
Normally, responding to investors calls and emails, and preparing PR's, are part of the job description. Hard to imagine that Scott is frustrated because investors want to be updated on significant developments.
I wonder if the source of his frustration is managment.
No thoroughbred wants to pull a plow.
BDB
I agree, LOCHUTE. Plus, it is common knowledge that completion of the new production facility -- and the corresponding ramp up in revenue -- are several months away.
BDB
Good article, mrcsn. Thank you. BDB
OT clrmng: I suggest that you add John Belushi to the party photo . . . next to the caption "FOOD FIGHT!!"
BDB
Pinkie's handle says it all. LOL.
Interesting, mrcsn. The factual allegations remind me of the story line in the movie The Constant Gardener.
BDB
And I'll give it a fifth! (That has a nice ring to it.) BDB
Thanks to lsd673, DDog, Raven, et al. for all of the quality research posted here today!
BDB
Same to you transam73wi, and thanks for all of your truly valuable contributions to this board.
Party on dudes and dudettes.
BDB
Good news, hinch! BDB
4tj: In my last conversation with Steve Burg, he expressly mentioned utilizing hospitals as a possible way to distribute Nicosan in Nigeria.
BDB
Excellent points, xyz1002. BDB
FIAT: Thanks for your kind thoughts. No new surprises here; rather, a condition I have been dealing with for 4-5 years, and seem to be handling pretty well.
As for Nicosan and the medical community, I think that the docs are due for a major learning experience. Nicosan is "outside of the box" in more than one respect, and may lead the way for other "non-traditional" drugs.
BDB
Today I had some medical tests performed, and, in the course of conversation with my nurse, learned that she has extensive experience with sickle cell patients in the US.
I gave her my executive summary version of the Xechem/Nicosan story, and she was very impressed. It was all news to her.
I have the feeling that Nicosan is still under the radar in the medical community (just as Xkem is in the investment world).
Hopefully, Mr. English will change all of that in the coming months.
BDB
Great post, transam. BDB
Excellent post xyz1002. I wholeheartedly agree with most of your recommendations. However, without more information, I could not endorse a 1:100 R/S.
BDB
Good work mpd68! Thank you. BDB
transam: Thank you for your research and analysis. BDB
Fair enough, Scott. Welcome aboard. eom
I wonder if Mr. English would like to be in clrmng's photo of the IHUB crew?
Mmmmmm, not.
BDB
I'm really more NEXT to you, than behind you. :}
Yep . . . that's my MO. :] eom
Hey clrmng, you missed me! I'm standing btween Razkyll and Tryz. :}
On the other hand, if my probation officer saw this picture . . . .
BDB
FIAT: Makes sense. I just hope that NAFDAC will accept a phase 3 study performed in another country. I assume that NAFDAC would have to approve the methodology of that study in advance.
I also wonder whether our license of Nicosan permits its manufacture outside of Nigeria.
It would certainly be nice to not be so dependent upon the whims of Nigerian politics.
Thanks again for your great work at the summit meeting.
BDB
If true, why then is Chassman's maiden (Chassman) name different from her brother's last name (English)?
BDB
Interesting analysis, mrcsn. BDB
FIAT: XKEM reminds me of a locomotive leaving the station, and SLOWLY building up speed.
I think tonight's meeting was very significant.
BDB
Thank you FIAT and DD for attending the meeting and sharing information with this board.
I think we may be at a turning point.
BDB
Fiat: you absolutely did the right thing in bringing it up.
Thank you.
BDB
DDareDDevil: Hang in there bud. Hope you're feeling better soon.
BDB
Excellent quesions, JoChef. EOM
Stevo: Thank you for all of your time and effort. BDB
Best of luck with your treatment, light. BDB
Good work, Lsd673. Thanks! BDB
Excellent post, xyz1002. You have asked the million (billion?) dollar question.
BDB
Foxwoodsfan: Thank you for your efforts in drafting the letter to the BOD. Management definitely needs a wake up call.
As for the timing of this letter, I suggest that the letter not be sent until mets has met with Dr. Pandy, and reported to the board regarding that meeting. This delay will enable the board to consider the information obtained by mets before the letter is finalized and sent.
BDB