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If I had an infinite amount of $$$ to risk...I would keep averaging down on this thing ...but knowing that this was sub-penny not that long ago makes me apprehensive to do any more of that while PPS is in penny land territory
They ignored the patent as if that was never announced previously...bad PR. They should have at least provided an update on the progress within what the NDAs ,etc could allow
You and me both
Hope you're right...dying to dump this shtt
Or some fool with his money..
Been hearing this since July
Surprised this stock hasn't gone below $.002 yet
He's funding Budcars expansion with SGMD equity placements. The Budcars CEO essentially admitted that saying...and parphrasing...the SGMD partnership has been great because of their deep pockets
Had the news been..."we've synthesized the compounds we designed and prelim in vitro testing shows they are behaving as designed greatly in inhibiting virus growth" "We're also diligently working to secure our patent on this exciting new technology that can potentially treat many Coronaviruses"
Perhaps the effect would have been more
I'll take .05 at this point
My comment is that this stock is likely going nowhere (endless short runs followed by selloffs) until they announce the patent and more importantly..some deal with a big pharma company that can give them the capital to exploit it. They have no real operations..it's only the value of their IP that keeps traders interested.
That's because the news wasn't that significant..basically saying...yeah we made the compound that we designed by computer....whoopee!
CEO's strategy is clear...fund Budcars growth with SGMD dilutive funding come hell or high water..no matter what that does to SGMD PPS.
We can only hope that we can get 70% ownership and begin reporting revenues and profits from Budcars in the near future and he completes opening the LA Hubs by the next 10K (end of Sept)
Agreed. This is just announcing they synthesized what they designed by computer..not much to it really. They state they still how it will behave with the virus
Patent is needed to protect their IP (molecule design)
What they are doing now if I understood the PR correctly...is testing the molecules to see how effective they are in stopping the virus from replicating (testing in vitro I assume)
When the patent is announced as approved they should also state how they plan to monetize that asset if they want the stock to really pop.
They should already be having convos with big pharma partners to set up funding needed to take this through drug stages..if that's announced as well..we could see $1 range or more.
However, time is of the essence here...there's a race for vaccine development and once one or more vaccines are available, therapeutics will have lesser value
The CEO said they would be offering substantially above market price...but that was weeks ago and then followed monstorous dilution that killed the PPS from $.06 to where it is today flatlined
Budcars using SGMD (and its shareholders) as its piggybank for expansion
Hope this works out in the end
It's a nice PR...but this means only that they synthesized what they designed on the computer..to begin testing how effective this is..still a long way from paydirt.
They need to secure the patent and then monetize that with some big pharma player...that's their way up and out of penny land
Is there a real market for shorting OTCs like this one...I don't know. I always thought shorting is more for NYSE/NASDQ type...not OTCs
Liability for an outright lie that can be easily proven in court to be that...is too great for any sane OTC operator to take. This company announced they had applied...not forecasted they would or said they might..they said they did..big difference
Exaggeration, rosy outlooks beyond reality..yes. Outright lies about a material event such as a patent application would be the stuff of class action law suits..so not sure they would go down that path.
You're accusing the company of fabricating a material lie...pretty serious acusation
They're in the development phase of a potential drug..so how are they going to fund this going forward? They don't seem to have much in operations. They need a big pharma partner (buyout, merger) with deep pockets..hoping that's what happens when the patent is announced..that will drive the price to $1+
I'm long...so no worries here
Yeah...I guess you're right. Can't ask for too much.
The news is good but nowhere near earthshattering...it sounds like they are experimenting to develop the drug as opposed to imminently ready to market or even go to trials. We may be lookin at a much longer timeframe here before this hits anywhere near $1. Also, what happened to the talk about Gelcaps, etc...sounds like they were getting ahead of themselves
Hoping it pops before X-mas then.
Not interested anymore in the longer term here..got better places to put my money than with this greedy CEO
This CEO is transparent..but not honest or interested in preserving shareholder value. Why the delay in closing the 30% in Budcars? That alone would send this stock past $.01.
The iron was hot for therapeutics this weekend...but nothing from SBFM
Awaiting patiently for the next shoe to drop.
I believe the "it's a matter of time" mantra..but it's getting old already
Nice but until we own 70% of that company...won't impact topline
Yes...that's the strategy that the CEO laid out...let's hope he sticks to it.
Why hasn't that happened already? Dilution funding has been more than sufficient over the last few months to buy the extra 30%.
Seems to me it's unethical for SGMD to provide a capital engine with their shares for another company (Budcars) they don't own outright.
You and the other Chan Pumpers on this board are tiresome already
Day after day with posting the same shtt.
They awarded the CEO with 500,000 shares in July for the COVID work he did.
Must be pretty sure that it will lead to something
That's probably the best answer I've gotten thus far why they could be keeping silent thus far. Hope you're right
The race is mostly about the vaccine. Their patent is for a therapeutic so they compete with others in that space...not aware of what's going on with competing therapeutics ...but the longer they delay they could be looking at lesser value as more come on the market
This co mgmt is tight lipped about the patent progress...not sure why
Be happy to sell my shares if it ever gets close to this #