Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks for the update! 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.
Here's the weekly chart (intraweek since the latest candle is still in progress). I added a callout to show the latest candle close up. It's actually fully outside the bollinger band and using the band as a springboard to continue downward. RSI is a chilly 31 and MACD has a strengthening reflection downward, for five ticks, instead of crossing to the upside. There was also a death cross with the 20 period moving average (light blue) crossing the 200 (dark blue) as can be seen in the callout just before this sharp downtrend. All of these are bearish technical indicators - though charts are hit and miss in the wild wild OTC.
Saving grace is this is happening on low volume. Volume before price, & if we get a catalyst or rally the falling PPS could easily get routed by new money.
.
I don't know if we can know. There is a list of investors in a filing here:
https://www.otcmarkets.com/otcapi/company/financial-report/323613/content
And we know this from the same filing:
I see sometime recently the Restricted shares on OTC markets moved from 451,289,585 to 443,789,585, meaning 7,500,000 shares got unrestricted. Maybe these were being sold off in this latest downtrend.
.
This looks about to plunge to .03
.
I don't have notes on Australia. The rest looks accurate!
Timestamps from the interview vid here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167635836
.
Here's hoping. In all the prior bounces, weekly RSI had an effective floor of about 35. It's currently 32.5 on my chart which is new territory - and precariously close to a breakdown.
Edit: added the chart and noted some other interesting things. Possible falling wedge with profit targets near .07, .15 and .20 if this reverses. Red arrow shows weekly RSI lowest in recent memory. MACD is really close to crossing but currently reflecting down (I can't zoom close enough to show it on this chart timeline but the latest five ticks are bright red and getting taller ie current trend is strong)
Pink dashed and light blue lines are bollinger bands, dark blue is 200 week MA.
Weekly (intraweek):
Justice? What are you talking about? XD
Sucks this ticker has so many red days. But they gotta deliver.
.
Well, I cited some links, so now you have your answer.
No problem!
.
So the statement phrased as a question had no basis in reality, then? lol
Of course a question can be backed up with links? That's what makes a question informed, yes? Anyway, here are a couple of links that do provide a basis in something cite-able?
So, there aren't any links backing that up? Good to know?
Can you show proof of this statement, with links to references of this information?
Twist Bioscience trades as TWST on Nasdaq. Its expected 2022 revenue is about $200 Million (source). About 500 employees in 2020.
Yep, it's the right move to apply for international patents through PCT. A patent in Europe is reciprocal in the USA and elsewhere. (156 countries.)
Nifty map here. https://www.wipo.int/pct/en/pct_contracting_states.html
If it's as flexible as you say, what do you think of their explanation behind the NDAs?
No, it only means they need to file and win a patent first - to secure their claim - before publicly using or selling an invention. As soon as they win that patent they're free and clear to monetize their invention.
They also have several patent applications in the works, which likely won't all win approval at the same time. So rather than a tsunami, hopefully we'll see a steady stream of good news in the upcoming months & years.
First, baby steps. Let's see them patent, use, and sell ONE product! If they can do that at all, they can repeat that.
.
I don't think we're in disagreement on most of this, the PRs read like bad legalese (specific words to sound like one thing but mean another) when paired with the lack of performance.
ENZC is at ECRM this week doing exactly what they did in ECRM in March, and they and their star marketing firm couldn't sell a single bottle of IPF due to overwhelming demand.
ITV-1 will be "introduced" in Africa in early April, except it still isn't. And it maybe isn't even funded.
EMA Phase 1 is Africa as far as I know. "First in human" trials are part of phase 1. Voluntary human trials at two unnamed African hospitals is how it will be "introduced".
The audit and regularly occurring yield signs are red flags.
We're not omniscient and it's possible the management trying to spin their weaknesses is the problem here, not the tech. ENZC will need A-games from both if they want to succeed.
Reputation is very important. Doing things in order is important. Communicating about it is important. Realistically, how fast do you think a five person biotech with this many moving parts can move? Is it realistic to not expect missteps and setbacks along the way?
But I heartily agree they have to stop acting like a pinkie if they want to be taken seriously.
.
The fact that they talked big and didn't follow through greatly muddies the waters. The habitual poor communication, sloppy and late filings, etc that set the bar before the NDAs doesn't help either. NDAs shouldn't prevent generalized news, Tom's pumping or Chandra's inspirational tweets.
Reputation is very important. To some investors, the NDAs may understandably be a red flag.
.
The reasoning given was that disclosing anything about ENZC's partners or operations could compromise their ability to secure future patents. That kind of implies the competition now has the capability to perform the same patent-able work. Less alarmingly, competition might notice details ENZC overlooked in its own material and attempt to patent those. Finally, if something becomes known or used in public it becomes harder to patent. So to me the NDAs make sense.
I was just lookin at that on the charts. The current support may hold around .0375 which is where the market rejected going lower leading up to the big 2021 run. If it falls through that level, the next established support line in recent history is .02
This is threatening breakdown on both the weekly and daily, and though RSI is low, it has historically gone lower. Should be an interesting next few weeks with or without news. With it this oversold, I agree that good news could send it.
Not shown below, there's a Head & Shoulders on the hourly which may take us briefly to .035.
Weekly chart:
Daily chart:
Legend: Pink dashes & light blue is bollinger bands, dark blue is 200 MA.
.
It's the August 22 news spoken by an AI.
https://enzolytics.com/company-news/
The website is erroring out and it doesn't load for me, but it's that PR word for word.
.
Saw on twitter, one of ENZC's international patents is published here:
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022178216&_cid=P20-L7WYNP-96293-1#detailMainForm:MyTabViewId:PCTDESCRIPTION
Pretty technical, but there's lots of information in there if you browse around with the tabs on top.
.
So why not just say "has a partner"?
Anyway, hopefully they do! :)
.
Identified a partner is different than working with a partner - this sounds like hopes/plans for the future rather than anything concrete. According to that news, a couple of veterinary mAbs are in production (i.e. research samples?) but they aren't tested or monetized yet.
It's been saying that since July,
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169479141
.
I'm not saying they want to screw commons, just that the Cash and cash equivalents trajectory is sharply downward, assuming the Q2 numbers are accurately given. If ENZC was truly at half a million cash in June, and doesn't cut normal expense categories in Q3 and Q4, it looks like they would need to secure more cash by approximately year's end to keep above zero.
We haven't seen the Q3 numbers yet so maybe they've already obtained the funding they need. One statement from the August 22 news made it sound like they hadn't.
Does this look like a cashflow issue?
September 30, 2021
Net income/(loss): (388,583)
Cash and cash equivalents: 1,583,154
https://www.otcmarkets.com/otcapi/company/financial-report/312797/content
December 31, 2021
Net income/(loss): ?
Cash and cash equivalents: 2,231,202
https://www.otcmarkets.com/otcapi/company/financial-report/327932/content
March 31, 2022
Net income/(loss): (844,593)
Cash and cash equivalents: 1,475,493
https://www.otcmarkets.com/otcapi/company/financial-report/334367/content
June 30, 2022
Net income/(loss): (224,198)
Cash and cash equivalents: 515,260
https://www.otcmarkets.com/otcapi/company/financial-report/346555/content
Note: there's a line on Page 3 which still doesn't explain the dip in cash since Q1:
Cash at beginning of period: 737,195
In general, it looks like recurring expenses in the following categories comprise most of the loss each quarter. R&D is the most variable category.
General and administrative
Salaries, wages and related costs
Research and development
Professional fees
If ENZC was down to half a mil in operating cash a whole quarter ago (June), and if they haven't found a financing partner, and if they don't have a revenue source, how do they raise more cash?
My thought is they would be forced to dilute, which would require a reverse split to give more O/S headroom and increase price per share. They've also raised money in the past by opening up new Preferred to sell to private investors. Thoughts?
.
If they were already issued in the past and it was discovered the OTC numbers were wrong, it's weird to me that the Q2 disclosure still shows the old total in the December 31, 2021 line on Page 1. To have both totals side by side, and not match, I believe requires an explanation.
.
On the Q1 disclosure,
Malone Bailey was originally auditing 2019 and 2020,
It might take that long,
Good catch, thanks!
Right on, edited my original post with a disclaimer.
I was under the impression from today's discussions that Malone Bailey is no longer the auditor listed on https://www.otcmarkets.com/stock/enzc/profile
The one listed there now is:
Changing auditors does suggest there's an issue with the data that's making the earlier firms unwilling to sign off. But ENZC has been saying the 'audit is proceeding without issues' all year in public messaging and SEC filings so there's a big disconnect.
Why would they want to replace Malone Bailey when the audit is 'being finalized'? At a minimum there'd be some time and cost for new auditors to familiarize themselves with ENZC's audit package -- if the new firm didn't have to start from scratch.
If time or quality is a concern, why switch to Gries & Associates which has under 10 employees and less than $5M revenue, instead of keeping Malone Bailey which has close to 200 employees and $21M revenue and is also in the IPA 300 top firms?
OR did ENZC actually finish the audit and has no continuing need for Malone Bailey's services?
EDIT: somebody said that ENZC has been working with Gries & Associates for over a year. I think I'm mistaken that they have changed auditors for their three-year audit, which Malone Bailey was previously handling. I'll leave the original post unedited above so readers can piece the conversation together.
If Malone Bailey is gone from the latest filing, does that mean the audit might be completed?
.
My TA agrees with your timeline for this,
Currently there's a Head & Shoulders pattern emerging which has a price target of about $.041 if it materializes and the bear trend continues. Markets are closed Monday so this may just trade sideways within a broader descending triangle since the high .04's seem to be holding as support.
GLTA
So yeah, apples and oranges.
ENZC isn't 'my' company. I agree their late financials are a bad look.
Alcoa has 12000+ employees, so it's comparing apples and oranges. But yeah, this long delay for financials that most likely didn't change significantly from the prior quarter is a bad look for ENZC.
Or maybe a lot did change? We'll have to wait and see.
.
Nice! Thanks for sharing. Here's some notes that may be relevant to these awards:
https://www.pharmaceutical-technology.com/awards/pharmaceutical-technology-excellence-awards-2021-submit-your-work-now/
https://www.pharmaceutical-technology.com/pharmaceutical-technology-excellence-awards-2021-guidelines/
These are for the 2021 awards, but it looks like companies submit their own case studies to be considered & included in the award lists. Pharmaceutical Technology also mentions "Some options only available in enhanced promotion packages" which suggests companies may be buying some of the exposure given. See the sales pitch in the first link in particular - if that's the case, it's a little different than Pharmaceutical Technology going out and discovering candidate companies themselves. Would be something to look into further.
Either way making the 2022 list seems like welcomed exposure for ENZC.
.
Yeah, agreed. I don't want to signal too bearish since we know there's a bunch of exciting potential in the pipeline that could materialize anytime. Can't rule out OTC heating back up in a few months either since it's all been getting pretty squished.
With ENZC, the company update and DD suggesting slower communication, multiple approaches to TA, and the trading history seem to agree that diminishing PPS is likely until the company can deliver in a big way. Something like the audit getting done or a clinical trial actually starting could go a long way to boosting investor confidence and slowing the descent.
If the MMs' goal is to move the market up or down to make money, and investors aren't biting at these price levels, it makes sense MMs will take the price lower to generate more activity. I don't know how it's affected other investors, but personally I've been reluctant to add any more when it looks like a very slow falling knife.
.
For whatever reason it's trading around the diagonal line that touches the tops of the tallest daily candles all the way back to September 2021. (ref) Like clockwork we approached end of day and it pulled back under.
I wonder if tomorrow we'll trade under, or if we'll see a run Tuesday/Wednesday that ends at the bollinger midline at .055. Decent chance of the latter if Wednesday is a short settlement date, so MMs can get the RSI reset. Trade carefully since this is nudged against the bottom band with a very tall wick.