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Joe, can you help me out here with ADAT please? From the PR:
At closing, Authentidate issued 3,400,000 shares of common stock and warrants to purchase up to 3,400,000 additional shares of common stock to a select group of institutional and accredited investors. The warrants will be exercisable for a 90 day period beginning on the closing date at an exercise price of $1.00 per share.
Sooooo, the investors have the 3.4 million shares in their pockets at 1.00 PPS. They also have warrants to buy 3.4 million more at 1.00 per share. Let's say this hits 1.20 a share within the next 3 months.....and they exercise and dump for a 20% profit. The investors pocket $680,000 and still hold their original 3.4 million shares....
The article made this financing out to be extraordinarily generous terms for the company (even after they paid better than 10% to arrange it).
Would you concur, based on other warrant issues within this industry?
TIA
Indeed, that is one beautiful chart. Imagine what a bit of news would do for the length of that white candle!
Yup. As it stands, SPHE is lining up as my best candidate for pre-year end tax write off.
Well Ninja, given DR's batting average with lawsuits/claims, it's reasonable to think that La Jolla will have to be paid off as well.
In addition to the complete dubiousness of entering into an agreement where, essentially, default was inevitable from the time of signing, the damage done by La Jolla could run much deeper: a quick check of the CTGI chart on/around the end of Jan. 2009 shows the final throes of the death spiral that brought the CTGI share price to its .07 levels. While there was a "no-short" clause in the financing agreement with La Jolla, once La Jolla claimed that the agreement was breached, what was to stop them from doing what they do best: shorting this company to its knees. And without DR and friends buying tons of shares last spring at .08 or so, who knows where this could have ended up?
Conjecture? Yup, but you know how these predatory lenders work. They have no qualms about wringing every last cent from anyone who runs afoul of them, in any way legally possible.
But back to the end game with La Jolla: if they paid Allison 2 million shares to shed $380,697, with a tab of $402,629.28 (+ interest to date), La Jolla's looking at a similar number of shares or better to settle at today's PPS.
And for those here trying to assess a $$ value for CTGI/LTC, do the math based on the shares given to Allison.
Maybe what they know is that you can't squeeze blood from a turnip.
I have no evidence of a pending lawsuit. It would, however, be naive to think that La Jolla will not pursue this claim vigorously. Like Cornell, La Jolla's bread and butter is extorting large sums of $$ from companies that got in over their heads. They're very, very good at it.
This is the first month he can dump his 100k allotment.
That's a big call considering that there is one known lawsuit pending against CTGI from the La Jolla debacle....uh, debenture.
At 50 million OS, (more or less), the entire company including LTC and Carbon scrubbing, in theory, could be had for 12 million, more or less. Clearly DR won't accept that type of offer. He has a career's worth of time, aggravation and no small amount of $$ invested here.
IMO, there's no chance of CTGI bringing LTC to market alone. They lack the connections and the cash for such a massive rollout; hence a buyout of LTC is the best outcome for shareholders in the future. Also IMO, DR has done his dash with LTC- he found the technology and then he found the guy to get it through the FDA. I don't see any further rounds of FDA approvals, for organ suturing, etc, happening on DR's watch. All that remains is to make money from the technology. So what's the magic number that DR has in his mind for LTC? And how much compromise will it take for him to pull the trigger on a deal especially given the fact that he isn't as young a CEO as he was when this company started trying to convert farm waste to fuel 10+ years ago.
Hopefully with the lawsuits clearing up, a deal is imminent. Perhaps one of the conditions of a settlement for LTC is a clean rap sheet, ie, no outstanding legal actions against the company. On the other hand, if a deal was truly in the works and the $$ was substantial, why would CTGI issue shares instead of just paying off their legal debts with cash from all those proceeds?
PS: Unlike Greenblatt who DR took care of with his own shares, my reading of the Allison deal is that we're all diluted here by 2 million common shares.
Deathly quiet. Something has to give here soon, but as long as the A/S and OS stay the same on the next q, silence isn't all that bad.
How about now having management start working on shareholder value and taking action to shore up the price of this stock.
Lets see some correspondence from management concerning what their immediate and near term actions are going to be.
You're right. it's already been 11 hours since the acquisition was PR'ed. WTF is taking Lisenby so long? LOL
The current PPS is a gift: people, try and look beyond the closing price today or tomorrow. Have a look at the charts of companies awaiting FDA 510 clearance for devices that are new to the US medical market. Check out the charts on NEPH, CTGI and plenty more companies as their FDA approval got closer. If you're at all concerned about the PPS, you need to change the lenses on your investing glasses. IMO, we'll see an FDA application no later than April 2010.
What we have is a CEO who recognizes amazing technology and has spent years, over 2 different companies, in its pursuit. He got the deal done in timely fashion and we now own the bioharp.
He can move now forward in the crafting of the business. Let the flippers take their 35% and hit the trail. I'm willing to wait the 1-2 years for retirement money here.
Rainmaker, what do you make of the NRI.TO PPS tank since FDA approval. I was in the stock back in July, and sold when the FDA didn't approve Pennsaid. The PPS fell and recovered fairly quickly. But this collapse after FDA approval? WTF? Are you holding/buying/adding at these levels?
at what price?
I can't get filled at .03 tried first for 100k than 50k but no shares to be had.
I appreciate your candid reply and DD on this board Sterling. I hope you're right about the reasons for the increase to 20 billion shares and I wish you all the best with your investment here. This company has many, many elements that I look for in an investment: beaten down share price, experienced and new CEO, unique patents and technology.
It would have taken a lot to get me to part with my shares. 20 billion, however, is more than enough to get the job done. I still like the story here: the numbers are a different question all together.
I'm no day trader, but I had to sell today: 20 billion is too big a number to put forth for a company that has made no substantial announcements to justify this rise in AS. I'd feel differently if the increase came on the heels of FDA news or something meaningful, but this is too hard to swallow.
There are a helluva lotta better ways to burn day traders and shorts than diluting your company by 20X.
And while we have no confirmation of the current OS, you'd have to think the original 1.5 billion are almost used up; hence the need to increase.....but to 20 billion???????
lol, about 9 months!
Excellent to read your PDMI post. I'm holding and adding at these levels.
I just want to add that while FDA device approvals don't require the same expense and data collection that drug approvals do, the 3 month approval time for devices is only a guideline. The actual time varies and can take over a year.
That said, the % of device applications that are eventually approved is staggering, so while approval times are longer in 2009, the approval we're waiting for will certainly occur IMO.
So all we're waiting on is 3rd party confirmation of P2O, which is happening as I write. This is excellent news:
When do you expect the third party validation to occur?
It is already before the scientists eyes.
You don't phone in the 3rd party assessor for a look-see unless you're very, very confident that the results will be the ones you want. If there were problems that required excessive tinkering with P2O on a large scale, I doubt the CC would have happened at this time.
'Question for John Bordynuik'.
Have you attempted to convert P to O using the new, bigger machine yet? If so, what were the results?
KS.V, KLSVF
Started a decent sized position in this up and coming silver explorer/producer. 137,045,474 million shares fully diluted. A tranche of warrants were just bumped up from .065 to .10 in the second year.
This is a Hughes Exploration company which has channeled between .05 and a dime, way under the radar in 2009.
If you like silver in 2010, this has much, much potential at this price.
http://www.klondikesilver.com/s/Home.asp
In here as of Friday for 66k shares. Happy to bump the ask.
BIEL, CTGI, IMGG, HDVY to name a few. And by the time their approvals and earnings roll in, you'll be paying dollars and not cents.
It's just that you said, "I'm told by...." .....and then you referred to DR in the next sentence...
So I thought I'd ask who did the telling....if anyone....especially if they were connected to the company... like a CEO for example......
But I will indeed make make of it what I will...especially as you won't make anything concrete of it yourself.
So did Don Robbins tell you that CCTI was being "heavily looked over by entities with money?" or words to that effect? And when did he share that information with you?
TIA
buy low sell high
Looks like no deal on the harp...yet. Looking at the trading action today, word must have leaked that the merger was off. This PR below is a bit confusing....is this a "merger" or a buyout? We're now waiting until at least the beginning of Dec, and the newly proposed merger/buyout looks imminently more complicated than a simple merger. It could be a good chance to pick up some cheapies in the coming month for the true believers.
XTend Medical Corporation (XMDC) Moves Forward on Merger With BioHarp Korea
SUN VALLEY, CA and SEOUL, KOREA -- (Marketwire) -- 11/18/09 -- XTend Medical, (PINKSHEETS: XMDC), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, today announced the company is in the final stages of completing the merger between XTend Medical Corporation and BioHarp, Korea.
The company issued the following statement: "We're proud to announce XTend has finished their meetings in Korea with BioHarp. While we originally intended to just merge operations, XTend feels it will be in the best interest to purchase the assets wherein the newly merged entity would own the BioHarp medical device in its entirety. This insures the company has sufficient assets for proper company valuation as we look to begin the process of moving to a higher exchange. As this will involve both securities and cash, it is imperative to properly investigate any tax implications or other fees that may have an affect on both companies to insure the company is following proper procedures for the regulatory agencies. We will consult with our corporate counsel and CPA to insure we protect the company and complete this with the proper documentation and approvals. Mr. Lee will be traveling to Los Angeles at the beginning of December to meet with us to discuss the operational aspects of the new entity as we move forward," stated Mr. Paul D. Lisenby, CEO of XTend Medical.
About XTend Medical
XTend Medical is a company that specializes in the manufacturing and distribution of the latest in telemedicine and telehealth solutions for the healthcare industry. Their dedication to insuring the products and services offered to healthcare organizations, third-world countries, and physician groups are at the forefront of medical technology. Their continued efforts in identifying global companies with true product potential in the healthcare industry puts them in an advantageous position to capitalize on a global basis. For further information, please contact them at info@bioharpunius.com.
The new website can be located at www.bioharpunius.com
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
CONTACT
info@bioharpunius.com
me too....2k at .0175....still waiting on the other 98k lol
the bid was .012 and the ask was .017
I ordered up 120000 more shares at the ask of .017 and wasn't filled.
Hopefully Lisenby's experience while with Hathaway will defuse any of the tough-knuckle tactics in the article you linked to.
He's been in on the deal before and it didn't happen for whatever reason, so he clearly knows the players involved as well as the value of the Bioharp.
IMO Lisenby will get the deal done because he, like us, knows there's plenty here to go around.
A non-event IMO. FDA approval, future device sales, a buy out or some reasonable financing are what will drive this company.
They trade for .002 a share. They have employees, an experienced CEO, products, and patents. Not much is needed here to lift this company into the pennies. Just a bit of positive news.
Not an ass at all....just frustrated like the rest of us. It's a bad time for micros- I'm taking hits across the board on anything trading under a dime.
Look, it's not that I don't appreciate your checking the website, but a plethora of jobs since June 2009, which really looked like a can't-miss indicator, hasn't really translated into any meaningful PPS appreciation.
I've emailed the company to ask if the jobs are fulltime/permanent positions of short term contracts. No reply. GIven the lack of PRs, I can't justify an increase in my position, even if I wanted to......
FWIW, I'll do as the company instructed and wait for the official filings. Til then, it's all conjecture....which is what got me into this mess in the first place, lol.
Glad you can see the humor in peoples' honest responses and questions about the company's situation these days. A lot of people here are far, far under water and might not share your capricious dismissal of valid concerns.
complainers see and know it...(and) will continue to bash CTGI and it's lack of revenues or whatever.
Are you serious? Do you actually equate questioning something as fundamental as revenue stream with bashing?
Your "cheap shares" diatribe is getting mighty stale as well, Lowman. Almost everyone who posts here is a long. Many of us have been here for years. We want the company to succeed. We also have legitimate questions and concerns....hence discussion boards.
DR made public the last form 4's. Nice. Good PR for the company. No BS CEO? So let's cut the BS and make public if Frank D and Richard A are still associated with LTC. I've emailed this request to DR. No reply. To my mind, this is a fundamental and crucial question. If CTGI doesn't currently have a board member with serious connections in the medical device community, the chances of success change radically IMO.
Back in 2006, I emailed CTUM many times and left many messages asking about the CO2 separator: was it actually working anywhere in the world on a commercial basis and if so where? At the time I often travelled to the Ukraine and Eastern Europe and would have been happy to pay a site visit to see the machine in action. Again, no reply.
I'm not fishing for insider information here. These questions are simple, direct and factual. They are basic DD for anyone who cares about the $$ they have invested. And you call this "bashing"? LOL
Lots of job ads, but are they for fulltime positions or are they for short term contracts?
Lowman, read "La Jolla" for "Cornell" in the original post.
Allison Gordon result:
IV. CONCLUSION
For the foregoing reasons, it is hereby
ORDERED that Defendant Allison's Motion to Dismiss [Doc. # 32], which has been converted to a motion for summary judgment, is GRANTED. It is further
ORDERED that Defendant Allison's Motion for Partial Summary Judgment on Defendant's Counterclaim for Suit on Promissory Note and Brief in Support [Doc. # 37] is GRANTED. However, no payment on this judgment is due until all claims are fully and finally resolved by this Court. It is further
ORDERED that CSMG's request for attorneys' fees, which was contingent upon CSMG obtaining judgment in its favor on its breach of contract claim, is DENIED as moot.
SIGNED at Houston, Texas, this 30th day of September, 2008.
This case has been settled except for the $$ that CTGI will pay Gordon.
La Jolla claim:
Form 8-K for CSMG TECHNOLOGIES, INC.
5-Feb-2009
Triggering Events That Accelerate or Increase a Direct Financial Obligati Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
The Registrant ("CSMG") received on February 2, 2009 a certified letter dated January 28, 2009 from La Jolla Cove Investors, Inc. ("La Jolla") declaring an event of default with respect to a 6% Convertible Debenture dated November 17, 2008 in the principal amount of $1,500,000 that matures on November 30, 2011 ("First Convertible Debenture") issued under a Securities Purchase Agreement dated November 17, 2008. Under the Securities Purchase Agreement, La Jolla paid $125,000 to CSMG and issued a Secured Promissory Note (the "First Secured Note") in the amount of $1,375,000 dated November 17, 2008 that is due and payable on demand by CSMG at any time after November 30, 2011. La Jolla stated that an event of default had occurred under the Convertible Debenture following the entry of judgment against the Company and in favor of Banco Panamericano, Inc. in the amount of $726,491.41 on December 16, 2008 and the failure of CSMG to timely pay interest under the Debenture. La Jolla claims that it is entitled to $402,629.28 under the terms of the Debenture based upon acceleration of 118% of the principal of the Debenture together with all accrued and unpaid interest to the date of payment. CSMG is not aware of any other material obligations that it has that may arise, increase, be accelerated or become a direct financial obligation as a result of the above triggering event or the increase or acceleration of the Debenture to La Jolla.
This is a much uglier situation as La Jolla is a much fouler predator of small companies. Some here might claim that the amount owed is insignificant given the "billion dollar technologies" that CTGI has in its portfolio. I'd only point out that the company was in full possession of these technologies in late 2008 when, as some here also claimed, CTGI was in effect gagged by the Banco legal situation for close to a year.
Let's hope that DR addresses these legal situations openly and honestly and very soon, so that investors can know if the forward progress of the company will be hamstrung by them.
DR's history with the law has been less than stellar to put it mildly.
I wasn't thinking so much of Cornell here.... But since you asked, do you care to elaborate on La Jolla? Do you think DR will have to pay out a multi-million share settlement akin to Banco in this case as well?
Gordon Allison won his case with CTGI. (then CTUM), a case the company brought against him. And to date, there's been no announcement of a settlement of any kind.....
Not so much 1/2 full or half empty......just that the water in the glass is a bit stagnant, really since the PR last year, where the CE Mark was announced with the lawsuit news silently tucked in.
Had DR proven, at any point since the company began, the capacity to generate revenue, all the forward looking DD and 411 about share structure, inside buying, etc, would be moot.
But DD shows that CTGI has followed many different business ideas in the past 10 years which haven't panned out (the CO2 seperater and before) which have not generated a nickel. (And Low, you were just as zealous in your defense of DR and Chastang as you are of DR and LTC today)
We know DR has high hopes and good ideas. We know he's been buying lots of shares. We know there are outstanding lawsuits and obligations against the company (Gordon, Cornell) and we know that DR/CTGI haven't made any money to date.
Add it all up and you get the current PPS. How do you value a company like this?
I salute your unflinching faith Lowman, but I think many investors require something more tangible before risking their $$. Hopefully the day will soon come when we're discussing the merits of financing arrangements or production facilities instead of arguing over who believes more.