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One piece of "good" news:
Long term liabilities dropped from $6,680,872 to $881,948. That's because those long term liabilities are the value of the outstanding warrants, and those warrants are now nearly worthless.
The annual report is for June 30, 2018 so we have to do a lot of speculating about what's happened in the past 3 1/2 months to get the current situation. What we know for sure is that total current assets on June 30, 2018 were less than half of what they were one year before. We know for certain that NNVC will not exist on June 30, 2019 unless it gets major new refinancing. If that comes it will certainly be on terms devastating to existing shareholders.
The bull market on NNVC is still on. I won't declare it over until we see 3 closes in a row below 0.30.
Yes, but I assume that most of that $881,298 in current liabilities was realized as actual expenses the next quarter, and so counts towards the $2.5 million per quarter that is being spent. Expenses have been higher lately because of paying for two CEO's at once and higher legal expenses. At least the Dr. Seymour drain ends in 2 1/2 months.
Don't you want to invest in a company that pays the costs of developing new drugs + 30% and then has to enter into year long negotiations to get a license to market the drugs it paid to develop?
There's probably little they can say that is true but won't drive the price down. Hence the silence.
It looks more like $2.5 million per quarter to me, not $3 million. But when all is said and done that only changes the day of destruction by a month or two. NNVC's options are bankruptcy or massive dilution. Either way, it makes no sense for anyone to buy now.
There are now two stark possibilities for NNVC:
1. Bankruptcy within 6 months.
2. A horridly dilutive refinancing. Don't be shocked to see a giant new offering of 300 million shares at 15 cents a share. And even that is possible only if NNVC finds an investor with deep pockets who believes the technology can actually be brought to market.
Okay, that's lower than I thought. They probably have closer to $5 million in the kitty now.
It must be depressing to own over 10 million shares of this stock.
If NNVC has been spending at the same rate as in the previous quarterly report it should stay solvent for at least another 6 months. It isn't going belly up in 2 months.
Ye Gods, Rentec's Mad Bot has purchased another 356,000 shares. It's time they shut it down.
I you look at their recent quarterly statements NNVC should have about $6 million in cash now. They're spending about $2.5 million per quarter. And yes, I was using NNVC's own rather generous valuation of their Shelton plant.
It's impressive that this stock stays above 30 cents. There's still a lot of optimism out there. I figure fair value (cash - promised payments to CEOs, current and former) + value of plant might give this stock a value as high as 20 cents a share. I can't see why anybody is paying more than that.
Good summary. Still no lead candidate, still no tox, still no license for the 'cide NNVC has paid to develop.
You are right. I should have assumed they'd be at least two weeks late.
Hey, it's pi day for NNVC!
From a disgruntled poster on the bull's board:
I remember the halcyon days when the price was 0.30 pre-split and that was regarded as abysmally low. Then the reverse split and the listing on AMEX was announced and the price spiked up to nearly $2 pre-split. NNVC isn't going to pull another rabbit like that out of a hat.
Let me add that it was damn unfair of NNVC to delay the release of their annual report. I was of course counting on it when I picked Oct 1 for my strangle date.
It looks like the roaring bull market in NNVC shares is over. arvitar is out of the running on the current strangle contest. I'll be out if the stock price doesn't tank hard within the next week or two.
I think this was solely due to the issuance of some warrants, with is something valueless microcaps do all the time.
I think that was it. It may not be typical accountant stuff but one would think that this sort of thing would lie within the domain of expertise for a Chief Financial Officer. Especially one who has little else to do but cut checks to Theracour.
Remember how a while back there was some sort of financial irregularity NNVC had to sort out (I don't recall the details) and they had to hire some real accountants to fix the mess? It was apparently being beyond the capacity of Meeta Vyas to do so.
Every few months NNVC releases the same PR. Sometimes the name of the disease and its 'cide changes, but nothing else. This has been going on for years.
Well, that's one theory. But another explanation for the AllExcell/Theracour/NNVC arrangement is that Dr. Diwan does believe 'cides can be made to work, but wants complete control and ownership of the IP while getting suckers (I mean investors) to pay for developing it. For him the best bet might be to let NNVC go under, acquire the Shelton facility at bankruptcy prices, and do the remaining development privately. Oh, and thanks, Don Pat, for paying for this.
I think they could get funding on terms that would make Don Pat cry. Whoever puts up funding would want a big share of NNVC, a tight leash on NNVC management (forcing a merger with Theracour and AllExcel would be a likely condition), and wouldn't care how badly he screws existing shareholders.
Still holding above 0.40. It's a bull market, folks.
The problem is that raising funds now will be on terms that crush existing stockholders. You could easily see the price go down to a dime after the refinancing. But if they don't raise funds now they may never get to a point where they can convince people that 'cides are real. NNVC is in a box and the walls are closing in.
At this point I don't think it matters whether nanoviricides work in a clinical setting. NNVC will run out of money before they can prove that.
What distinguishes "atomic water" from water? After all, water is the usual result of oxidizing hydrogen.
What is HOH and how does it differ from H2O?
Has anybody visited the Shelton facility lately? I wonder how many cars are parked there on workdays.
For the next few months NNVC will be paying for two CEOs. And getting the value of none.
Yes, somehow I suspect NNVC was unable to attract the very best in corporate leadership within the biopharmaceutical industry.
I'm not ready to throw away the best theory we have for explaining atomic spectra and chemistry (quantum mechanics). I was crazy enough to put money into NNVC, I'm not crazy enough to bet on BLP.
NNVC is rallying! 43 cents! Whoever imagined we see this lofty price again?
The latest 10-Q for the period ending March 31 shows just under $11 million in cash and spending at about $2.5 million per quarter. So I expect to see about $6 million in cash in the end of September filing. They can last until April at the current rate of spending, and maybe a couple more months after that if they cut the spending enough. So I figure 9 months is the upper bound on how long before it's lights out for NNVC, although it could happen in 7 months.
The people on the bull's board obsess about us because we keep being proven right. How can one guy with a dozen aliases make so many accurate predictions?
Until the end of this year NNVC will be paying for two CEOs, neither of whom has a clue about how to rescue this sinking ship.