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Yep, that's part of a compound quote. Why does the second part of the quote keep getting omitted? :/
The first part is structured in support of the second part. If A Then B. We have A. Thus B. = If we see .02's and RSI declines any more and there's not a rally, Then "lookout below" ie the RSI is near a negative threshold that indicates we'll likely see further decline.
We could argue about this all day. It's not a constructive debate. Some people use charts and some don't. I've seen that debate a lot in the pinks!
Believing something doesn't mean that is true. Missing the barn and reading things into announcements that arent that are HALLMARKS in the pinks sheets.
That's looking very possible!
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Here's a great starter tutorial on RSI,
https://www.investopedia.com/terms/r/rsi.asp
Also, I'm not sure who you're quoting. My quote was:
If we see .02's this week, this may reach breakdown on weekly RSI, which hasn't happened since January 2016 - April 2017. Hopefully there's a rally, but if not, lookout below.
Wednesday:
If we see .02's this week, this may reach breakdown on weekly RSI, which hasn't happened since January 2016 - April 2017. Hopefully there's a rally, but if not, lookout below. source
has any shareholder ever posted that ENZC is going to fall significantly because the RSI looked bad? I don't even have to look, the answer is no.
Outstanding post, God_Father. Interesting theories.
I've had some buy orders placed above ask that filled at lower prices. As a buyer, I thought my broker was cutting me a break! I didn't consider what would happen if brokers didn't marry buy and sell orders right down the middle.
I've also twice had sell orders slightly below bid that didn't fill, or only partially filled. (In a hurry to cash out before a cliff drop.) Kinda strange to just watch it sitting there when volume is happening and people are trading higher than my sell. Switching to market sell instantly got me the bid (yay for me).
The Sept 7 2022 date could indeed be arbitrary and not indicative of recent conversion activity. An unlikely-but-possible scenario is ENZC used its own bank of shares to pay Livingston instead of increasing O/S. At any rate it's clear O/S hasn't moved much this year so there isn't more than 32.5 M shares of new dilution.
As Dyno stated very well in his post, and as others here have expressed, ENZC has its share of missed marks that surely play into the sell pressure we see currently. Other OTC tickers may have similar chart patterns, but many of those companies are in depressed industries, aren't disruptors, are known diluters, have a ton of toxic debt, etc. ENZC of all pinks is in a hot sector and has the partnerships, tech, and vision to go places - it's hard to see it as a victim of bad market trends/manipulation.
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Good question. I'll have to keep digging but I don't know if we can know.
The O/S has only increased about 32.5 Million this year so far.
Livingston could have kept shares for a rainy day since they're allowed to hold 9.99% of O/S unless there's some settlement clause saying they have to sell them all.
As Jeff pointed out, they'd have to file a 13D if they owned more than 5% of a voting class of shares.
Livingston Asset Management held no position in ENZC shares at December 1, 2020. The shares from the 3(a)(10) and fee note transferred from Livingston Asset Management to the general public at prices presumably below .0145 by open market sales. No Dilution has occurred since October 15, 2020, when the total issued reached 2,797,935,953.
As of March 31, 2020, 447,859,000 shares have been converted.
Disclosure Statement June 30, 2022 Page 7
As of September 7, 2022, all 563,000,000 from the settlement agreement have been converted.
Quarterly Report for Period 06.30.2022 Page 7
Oh gotcha! Yeah I'm not sure.
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If anyone had proof then we'd all be rich at the next pop. ;) It's a theory, just like all the other theories about why people are selling and where the shares are coming from.
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9.99%, and I assume they'd be in hot water were it reported they held more since I think the terms are part of a court settlement.
I'm currently running with the interpretation that Livingston can hold up to approx 283 Million ENZC shares at any given time. (Keep in mind this number is tied to O/S which has increased over time.)
They would have to sell below that total to be able to finish any remaining conversions, which would refill their supply. We know the conversions are completed as of September 7, 2022 but if there were any recent conversions or shares left over in Livingston's portfolio, possibly the selling is not.
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Bull! Obviously there are other factors compounding the downtrend, and many sellers are cashing out for different reasons.
That doesn't invalidate Livingston possibly adding to the mess. It's right there in the filing.
It has nothing due to the decline
It's good DD. As is reminding the board that 447 million were converted before March 2020.
He even said this:
Looks like our old friend Livingston still had some out there and when they are done they will stop.
Good DD, thanks!
At no time may Livingston beneficially own more than 9.99% of the Company’s outstanding common stock.
As of September 7, 2022, all 563,000,000 from the settlement agreement have been converted.
Good point!
Also updated that post with some new info at the end. (Livingston conversions.)
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I think the NDAs are less preventing news and it's more that the company doesn't have good news to share. Remember before the NDAs, we'd have radio silence for weeks, and sometimes that meant ENZC had encountered some setback they didn't want to tell us about. (Lonza, centrifuges, Savov, IPF Immune being a few examples.)
Even under NDA, ENZC could always give us generalized updates, like they did in the latest filing where they talked about business activities with partners without delving into specifics or dropping names.
The latest filing shows the company with only around $515k in cash midyear. The cash burn looked to be at least a couple hundred per quarter, sometimes more. They've got Samsung production, IPF production, ITV-1 production, patent applications and auditing all happening all at once, and there's bound to be some ongoing expenses. If they haven't secured additional funding, cashflow issues could really slow this down. (This is speculation since we don't have any further info. I don't totally buy that cashflow is the only issue here, but it's still something to note.)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169913543
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169914341
EDIT: I just saw this post from Timing101 that shows a recent Livingston share conversion. If ENZC knows a big shares dump is ongoing it would behoove them to hold their news until that's finished to keep shareholder benefit from getting swallowed up by Livingston's selling pressure.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170054001
At no time may Livingston beneficially own more than 9.99% of the Company’s
outstanding common stock.
As of September 7, 2022, all 563,000,000 from the settlement agreement have been converted.
You called it - just dipped into the .02's and in my time zone it's still before lunch.
Unfortunately, that long legged doji candle from last week is looking like trend continuation as we seem to be entering breakdown on the weekly. There's still time for it to reverse since the week isn't over - but without a major catalyst, bears currently have all the momentum.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170008672
Intraweek weekly. Dashed pink and light blue are bollinger bands, dark blue is 200 week moving average.
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I believe this refers to the PCT Written Opinion.
Click the top tab "ISR/WOSA/A17(2)(a) " and then the second subtab called "Written Opinion of the International Searching Authority in XML" for either patent and have a look. In particular, scrolling to the bottom of the page reveals a list of Cotropia's and Chandra's claims that don't meet the PCT requirements for various reasons.
This doesn't mean the rejected material is unpatentable nor that they can't rectify inadequate claims with the patent office in the months after filing - but neither patent application was accepted on its face. So far no patent has been granted.
This is, however, the PCT process - and as I understand it, there's typically some back-and-forth to correct drawings, tighten up the wording of claims, etc.
Covid:
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022178216&_cid=P20-L8J9UQ-57138-1
HIV:
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022197882&_cid=P20-L8J9UQ-57138-1
Open the claims in a second tab and flip back and forth to compare. For the Covid patent, this rejection is a bit concerning:
Claims 1, 4, 6-7 are not novel and do not comply with the requirements of Article 33(2) PCT. The peptide and antibodies binding to the peptide are disclosed eg. in D1 (see Table 1b) and or D2 (see peptide Nr. 183).
To best of my knowledge, these are facts-about-IPF-immune:
ENZC announced IPF production and sale in north America in November 2021.
ENZC confirmed IPF was coming in March to multiple online retailers, and described an extensive marketing campaign.
"We have partnered with NPI [for sales, marketing, logistics, regulatory compliance]. We will be launching IPF Immune across multiple big and small retail chains, online platforms, in March 2022. Our production has been completed in Europe, and we are ready with our marketing campaigns. [We] will be launching a website dedicated to IPF Immune [where users can find testimonials, reviews, and buy IPF directly from the website]. The plan is also to go forward with TV Commercials and reaching out to the community as such."
IPF Immune will now be available on the U.S. market. The Company IPF Immune dedicated website is expected to premiere this or next week. And the Company expects the product to be available in both large and small retail outlets as well as accessible from the dedicated IPF Immune website.
Enzolytics, Inc. Reports Progress and Future Plans from 4/25/22
Enzolytics IPF Immune™ will be available in numerous sales outlets throughout the U.S. Delays in producing sufficient quantiles for the market are being addressed. These delays have provided time for increasing production capability to meet demand. The company’s market research has indicated significant demand for IPF Immune.
ITV-1 anti-HIV Therapeutic, 8/22/22
I think this part of my post is incorrect:
"traceability mostly ends once the shares are made Unrestricted."
The timer expired to edit it now.
Float as of 03/31/2022 has actually dropped a little, to 2,313,596,368; Restricted has dropped slightly to 443,789,585, and Outstanding has risen slightly to 2,830,435,953. So these numbers haven't changed significantly since December 2021.
Considering only 2022 numbers, ENZC is currently down 77% from its high of .16 in January.
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Some of these comparisons are apples and oranges.
KLXE is oil and gas, not biotech.
CMRA is biotech and new to NASDAQ as of May 20. There's often a price spike at uplisting.
SCOR is information and analytics, not biotech.
NMRK is real estate services, not biotech.
AGLE is biotech but looks to be struggling. Strong dilution, several FDA setbacks, & may be unprofitable for at least three more years.
A better comparison would be against OTC biotechs, and preferably those that develop products for immune modulation or treatments relating to immune disorders. Some of these have charts that somewhat align with ENZC's chart - for example, RGBP is down 95% and NWBO is down 72% since their respective 52 week highs. But these companies still have their own management, material events, technologies and financial situations which differ from ENZC's.
ENZC has only broadcasted good news, and shows zero new dilution on the books since its 52 week high. Without an uplist to QB/QX, they don't have an OTC requirement for timely disclosure of material events, which works against the company when shareholders discover setbacks like lawsuits, terminated partnerships or broken equipment after months of speculation and hype around information that later proves to be stale or incomplete. The company's continual failure to deliver its 2 year audit, and its recent shift toward more limited news / NDAs with all partners, further complicates this lack of transparency with investors and sets us up for further price decline if the company can't deliver on its hype.
No Dilution has occurred since October 15, 2020, when the total issued reached 2,797,935,953. Float has increased as shareholders who were issued original issuance of ENZC shares met the SEC requirements for removing the restrictive legends and obtained an opinion letter from a SEC approved attorney acceptable to the Transfer Agent representing the Company. With each increase in Float the total Restricted shares decreased in the same amount.
https://www.otcmarkets.com/otcapi/company/financial-report/323613/content
Total float at December 31, 2020 was 1,670,830,512.
With each increase in Float the total Restricted shares decreased in the same amount.
Date | Shares Outstanding | Float | Restricted Shares
12/31/20 | 2,797,935,953 | 1,670,830,512 | 1,127,105,441
03/31/21 | 2,797,935,953 | 1,880,313,464 | 917,622,489
06/30/21 | 2,797,935,953 | 2,141,602,954 | 656,332,999
09/30/21 | 2,797,935,953 | 2,288,596,368 | 509,339,585
12/31/21 | 2,797,935,953 | 2,346,646,388 | 451,289,565
All quotes from https://www.otcmarkets.com/otcapi/company/financial-report/323613/content
Cool. Probably a software issue or policy detail on their end.
Those special circumstances I was getting at include reverse splits. If brokers didn't delete GTCs and a R/S triggered a buy or sell, there'd be a discrepancy about whether the trader really meant to enact that exact trade. (ie The original order was for something else.) I do imagine most brokers would wait to delete GTC orders until the moment such a restructuring became effective, but whoknows.
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The weekly chart closed with a weak red candle to answer last week's stronger red. This week's candle is known as a Long-Legged Doji and generally signals market indecision. It occurs near a strong support line at .0375 which can be shown by the weekly candle low on 12/21/2020. In this case it occurs following a strong downtrend, which may signal a pause in the downtrend for consolidation as the tall wicks suggest neither bears and bulls could maintain control.
Chart below.
In Japanese, "doji" (??? ??) means "the same thing," a reference to the rarity of having the open and close price for a security be exactly the same.
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Is a Doji Bullish or Bearish? A doji formation generally can be interpreted as a sign of indecision, meaning neither bulls nor bears can successfully take over.
https://www.investopedia.com/terms/d/doji.asp
A long-legged doji signals indecision about the future direction of the underlying security's price. Long-legged dojis may also mark the start of a consolidation period, where the price forms one or more long-legged dojis before moving into a tighter pattern or breaking out to form a new trend.
Long-legged doji candles are deemed to be most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a trend reversal may occur. This is because equilibrium or indecision means that the price is no longer pushing in the direction it once was. Sentiment may be changing.
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The pattern can be found across any time frame but has greater significance on longer-term charts as more participants contribute to its formation.
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Market Structure: The long-legged doji is more likely to give a valid signal if it appears near a major support or resistance level. For example, if the price is rising and then forms a long-legged doji near a major resistance level, this may increase the chances of the price experiencing a decline if the price drops below the long-legged doji low.
https://www.investopedia.com/terms/l/long-legged-doji.asp
Huh, very interesting if brand new ones got deleted. Do some googling on the special circumstances for automatic deletion of GTC orders.
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Probably a fluke or miscounted the days. Curious if others had the same issue as there are a few scenarios where GTC orders would be automatically canceled.
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I can't permalink to the written opinion, but I can link to the page with its tab:
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022197882
From here, click "Written Opinion of the International Searching Authority in XML". The whole page seems to contain rejections and justification for rejections. In particular the "Box No. VIII Certain observations on the international application" contains a lot of terse rejections.
I imagine there's a process they may be able to submit corrections. The opinion letter was completed back on June 23 so maybe ENZC is working on it.
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Fantastic DD, thanks for sharing.
The cytotoxicity is indeed a big deal. Remdesivir and chemo have some awful side effects and it's frustrating to wait through the developmental processes when IPF may be able to save lives. Hard to see why Pharma isn't all over this - and folks have been saying that for a long time.
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Yeah, website is coming and going. (Mostly going, currently!)
Thanks for the link, I'll read through it soon.
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Excellent! Btw is anyone having trouble getting to enzolytics.com? The website has been down on all my devices & networks for several weeks now. Every once in awhile I get through and the page loads very slowly. Right now I'd like to peek at company news, but the connection times out. :/
https://enzolytics.com/company-news/
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Right on, thanks! Some people say they've tried Enzoimmune Active and claim it's worked well for them.
As I understand it, it has an immune-stimulating effect. So even if its American equivalent is FDA approved for sale as a nutritional supplement, at a minimum I hope there's a warning label for people with things like Autoimmune disorders. (This detail matters to me due to autoimmune issues in my immediate family.) If it works as intended, it may actually have a hazardous effect for certain demographics.
That PDF I linked at the end of the prior post includes justifications like this:
4.1 Determination of the No-Observed-Adverse-Effect-Level (NOAEL) or Lowest-Observed Adverse Effect Level (LOAEL)
We have no information on NOAEL or LOAEL
4.2 Determination of safety factor
General recognition of safety through experience based on common use and a substantial history of consumption for food use by a significant number of consumers.
4.3 Determination of the Acceptable Daily Intake (ADI)
No acceptable daily intake has been determined.
Good post! Balance and diversification is very important (both in life and investing). Traders of all types here and there's room for many to profit if they're patient and manage their risk. Thanks for your insights!
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Where did you get yours? Is it Enzoimmune Active or Enzolytics IPF Immune? Similar naming but two different products.
Enzoimmune Active (white label) can be bought from Rosetta Lifecare Bulgaria at https://enzoimmune.com/shop/ but that's the European distribution and not the Enzolytics IPF Immune product.
The US version is Enzolytics IPF Immune (black label), which was PR'ed in March & early April. Last I saw people are having trouble finding it in stock anywhere in the States, and as far as I know ENZC never sold a single bottle.
https://www.otcmarkets.com/stock/enzc/news/Enzolytics-IPF-ImmuneTM-an-Immune-Modulator-Is-Introduced-into-the-US-Market-This-Month?id=347251
If you bought Enzoimmune Active and not Enzolytics IPF Immune, that's probably where confusion is coming from in replies on these boards.
The FDA Approval NDI number led me to this. Thanks!
https://www.regulations.gov/document/FDA-2018-S-0023-0120
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I missed that! Yes it is.
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It may not even hold. There wasn't a catalyst other than this being oversold!
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What OMOLIVES said. Also, while it could be viewed that Foote is doing what he can to bolster shareholder value, it could alternatively be viewed as a lack of faith in his own company or his role within it, that he doesn't have a reason to keep inert shares for later.
Right now, the shares he's retiring are essentially worthless. They have a two year lock-up provision which prevents Foote from converting them at all until December 3, 2022. Then there's a selling limitation that would keep him from dumping them quickly if he did convert. So it seems like retiring the shares is mostly to create a PR event.
These shares have a lock-up provision that prevents the holders to convert into common stock for a period of one-year from the date of the merger of December 3, 2020,with the exception of those held by the CEO who has a two-year lock up provision. In addition, officers and directors that received these shares are subject to strict selling limitations, where the number of shares sold within the preceding three months cannot exceed the greater of: (a) 1% of the total outstanding common shares; and (b) the average weekly reported trading volume for the previous four weeks.
OTC Quarterly Report - HMBL 3-31-2022 page 47
Agreed. A flip might be too risky given that the chance of news from ENZC is iffy and the market seems to be cooling in general. This has been a very strong downtrend and expected support hasn't seemed to hold - the proverbial falling knife. Who except technical flippers will bring upward volume to ENZC when we're still in limbo on so many expected catalysts? All ENZC needs to do is deliver one, though, and things probably change for the better. GLTY/GLTA
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I don't think there's anything positive about the charts today, or did you notice something I missed? XD
Typically people fly by the daily and use the weekly for confirmation of longer trends since the weekly is like steering the titanic. Both the daily and weekly look very bad right now. It's significant that the weekly RSI is the lowest it's been since 2017 and it suggests there may be more trouble in store on the daily.
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Correct, he needs to convert the shares to common before they could be used to dilute. It makes for a good PR and it could have positive future effect, but it doesn't address ongoing dilution or the dilution talked about in Going Concern in the latest quarterly.
The Company plans to raise additional capital through the exercising of their warrants as well as through future debt and equity financings to carry out its business plan. Obtaining additional financing and the successful development of the Company’s segments including their new Blockchain Services group, ultimately, to profitable operations, are necessary for the Company to continue operations.
Exactly.
I don't see a ton of breakdowns on the weekly charts, but on most quicker timeframes there's usually a red candle that threatens, a weaker green that answers, and then the second red starts the real action.
On a weekly scale, that gives a lot of time for new catalysts to happen.
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Maybe you don't fly by RSI, but is this post about ENZC or the rest of us?
Good to see the discussions today, fun to read the different perspectives.
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I'm kind of expecting this'll rally and close near the daily bollinger midline at .043 to give us a green candle with a long bottom wick on the weekly and keep PPS inside the bollinger band so next week becomes a toss-up. Not certain enough for me to put any money on, especially with the bad news today from the Fed. But that daily RSI is crazy low and ENZC is in prolonged breakdown on Daily charts. Breakouts and breakdowns usually don't last too long before some kind of correction.
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Daily or weekly? Daily for me is 18.97
(The one point difference is probably due to us sampling intraday, after different trades)
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