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I don't see them going private though because Nicosan belongs to the Nigerian Government and Nigerians have a right to own shares of XKEM Nigeria which is a subsidiary of XKEM International. The question is can a publicly held subsidiary be a part of a private entity?
rubco..you are right. If Basu sees value in XKEM, who are we to say otherwise? $1 is fair market value for XKEM especially if they are selling tons of NICOSAN.
Those who believe are still holding. As long as Basu is in control, all's well with NICOSAN. All's well with XKEM. IMO.
robopro...post Ramesh's phone number and I will do the leg work.
Dr. Pandey needs to tell his story. We should contact a Wall Street Journal reporter and have him contact Pandey. I think this is a better approach than calling a lawyer or the SEC. I don't think we're at that stage yet and hope we do not get there.
I've been through this scenario before with other stocks. Litigation seldom works for shareholders. Let's give them the benefit of the doubt. I think they are still in the process of familiarizing themselves with the business and working on the lawsuit at the same time. They are also in the process of finding a CEO for the company as well as preparing to file IND for Hemoxin and 5-HMF and maybe an IPO.
I am counting on Basu to turn this company around to his benefit and to the benefit of XKEM shareholders.
It won't surprise me if some of the money Chassman gave Pandey in exchange for shares were diverted into other activities as well. These have to be looked into also.
I agree with you. Pandey gave shareholders absolutely no value at all and did not make any efforts to create value. Just as soon as we hit $0.11, the massive conversions started non-stop and here we are below a penny. It's criminal.
hinch...why did SBSH's ask was for $1.98?
OMG..that would be nice.
light...anything is possible at this time. It is stated in the 8-k that the debenture holders i.e. Basu & Co. have the option to convert at the lowest pps below the rachet price of $0.0175. Dr. Swift also has options to convert at $0.001. These are the grounds that I think will cause this pps to fall even farther. It may not happen. But if it does, these are the reasons, imo, so it won't bother me at all.
No need to talk to the SEC it'll only make matters worse for us. If we go down some more, I would hope we'll have a huge reversal as well.
My opinion of course.
GLTY
Unfortunately, they will. We are not out of the woods yet.
A very good close indeed. Viva le pink sheet.
I am trying to keep a level head at this point and holding on to my ascertion that Swift may be trying to convert approx. 18 million shares at $0.001. We may see this in the near future with the way this pps is going down. Won't surprise or worry me. Hopefully this will mark the end of the downtrend.
XKEM is grossly undervalued. We'll move up when management decides to talk. I still have confidence in them. Instead of distrusting them and threatening litigation, we should offer our support and patience. Those who have access to Swift, Basu an Co. should let them know that retail shareholders are 100% behind them.
I think this is the route we should take so they can think of us and make decisions to help us. IMO
Yahoo is showing we'r up 852.3%. Would be nice though but the pps is $0.006. There must be an error.
Drift thanks. I am hanging on to the phrase ...not to say anything by their lawyers. Case close.
They are working behind closed doors. I am cofident now that all's well.
The person to call is Basu. He is responsible for this mess. So Mets if you have his cell number post it so we can all call him.
As it is now they are in violation of the Purchase Agreement as well as SEC rules and regulations. This blatant disregard for rules is what worries me.
I think we are witnessing an ugly fight between Dr. Pandey, Basu and those who object to what's happening. Chassman and Blech are part of it too. Until this problem is solved, we are not going anywhere. As long as Pandey and those loyal to him don't find a way of destroying this company, I think we'll bounce back.
For now, is it possible to call the company's Accountants and tell them to file an appeal? Looks like management has turned its back on us.
Okay. I got confused because there was no dollar sign.
I agree.
Fox, it's about 18 million shares not 17K.
When else is he going to convert his options if not now that he has the opportunity to drive the price down? He has to be paid somehow. This is one of the ways Dr. Pandey detroyed shareholder value. He had absolutely no idea what he was doing.
........Could the allocation of options given to Swift to purchase 17,908,914 of the company's common stock at $0.001 per share be behind this???? If so, we could see $0.001??? and then we're off??? In that case, all's well??
.....in April, 2007, Dr. Swift purchased $100,000 of Units and assisted Basu Capital in performance of advisory services with respect to the corresponding Securities Purchase Agreement, for which he was compensated with : (i) $56,400 in cash from the proceeds paid by the Company to Basu Capital; and (ii) an allocation of options to purchase up to 17,908,914 shares of the Company's common stock at $0.001 per share, expiring April 4, 2009, from the options allocated to Basu Capital in connection with the performance of its advisory services.
I think we are in good hands with Shakar Basu. He used to be an analyst at Credit Suisse First Boston one of the top investment banks in the industry. I am confident that he'll do what's right becaused his reputation is riding on this. I also think we are fortunate to have him on board. Good things will happen eventually.
drift..the holders are the ones in control of the company. They don't want 8% if they can get 100++ return on their investments. They would rather convert at .01 this is a strategy used under the full ratchet clause that allows holders to convert at a discount. It protects them from suffering a loss if the pps goes down. It also gives them more shares.
Common shareholders are in a very precarious situation right now. Even if a CEO is found, BASU still has to exit. This is where we'll know what he really has in store for us. Hope and pray that's all we need to do.
bigd..I think it is referring to Nigeria's lawsuit against Pfizer.
However,the following sentence is quite interesting...In Nigeria wird gerade NICOSAN produziert in kleinen Mengen (aber nicht von Pfizer) ..... is quite interesting. We need a German to translate this.
drift...how do you know that? Are you Dr. P or SB in real life? There has not been any PR or SEC filings to that effect. I am just trying to make sense of what's happening.
It says Dr. P invested personal funds to acquire an approximately 25% interest in the lessor. This interest was pledged to the "Debenture holders" if they pay off Alembic in full.
IMO, this was accomplished. After paying off Alembic they had to move in order to liquidate Dr. P's 25% interest.
It does not appear so as stated in the 10KSP for 12/31/06. It's outlined under "Pandey Pledge Agreement".
I think Alembic has been paid in full as we speak. Pandey pledged his interest in the New Jersey office to Basu if Alembic is paid in full. IMO this is the reason why they vacated the old office so they can put it up for sale to cover the cost of paying off Alembic. ???????
light..if you try and understand what's going on, you wouldn't be so upset. Basu & Co. have temporary control of the company with only one objective in mind to make a profit and get out. They are not vyying for the best CEO of the year award so they really couldn't care less about shareholders' feelings.
They have invested money in the company so definitely they will do everything in their power to make it profitable. Without a doubt. IMO, there will be a buyout after the completion of the plant, the filing of IND for HEMOXIN and 5-HMF with the FDA and also after clearly difining the profitability of NICOSAN. Maybe by the end of '08?
Personally, I don't believe in CHARTS because there are just too many uncertainties in the market that make charting look like a bogus science.
We've heard this before from other posters. Just putting it in my own words.
Raven..thanks for your response to my post. I guess the underlining cause of priapisim in SCD patients and the general public is different so naturally there are different treatments for this condition.
I mean non-sufferers.
Raven...SCD sufferers including babies and women also suffer from priapism. Could NICOSAN be used to treat this condition in non-users?
Lochute..Thanks for the Video. It's incredibly uplifting. Can't stop listening. This should be our theme song and should be played at the end of the S/H meeting.
GO XKEM
Fiat, thanks for the reassurance. Hoping for a better week.
Have a good weekend.
'morning all. Food for thought. Since they are moving to Nigeria, are they still bound by SEC rules and regulations? Is the CEO going to be based here or Nigeria? If Nigeria, will their responsibility to us be bound by Nigerian law or US?
We are in a very precarious position right now and depend on the good will of those in charge. The market is huge. There is a lot of money at stake. How do we make sure they don't screw us?
Good news on the horizon up 14%!
U 2 Fox.
Fox...worldwide sales projection of Nicosan is about $2.5 billion over a length of time needed to obtain approval in the US, EU and other countries. Whether this can be achieved is yet to be seen and certainly a major task for Swift to undertake.
Nicosan being the only drug to treat SCD, full market penetration worldwide is possible with a good distribution strategy. IMO. This is a long term outlook and should not be taken as a fact. JMO.
Fox..I disagree with you. Here is why. Projected revenue of XKEM is about $2.5 billion. I doubt it very much that cost of operation including R&D and loan paybacks would come close to $1 billion. If it does we are looking at about $1.5 billion in net income! Divide that by outstanding shares (let's assume o/s of 3.5 billion) = ) 0.4286.
Let's factor in 12 times earnings = $5.14! This should get us to AMEX without r/s. $17.5 billion market cap is attainable with a market value of $2.5 billion. JMO.
fox, very well said. Good analysis. Question is why would it be necessary to have an r/s if the pps increases substantially? Thanks.
light...the 100 million per day volume is fast approaching. imo. It's SHOW TIME!
Once the dust settles, we'll have 100 million per day volume and an incredible ride up. IMO. Hope all's well though. As long as there were no significant cover-ups by Pandey that were exposed by Swift et al, we should be fine. Otherwise we are in for the long haul.