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Things are slow, but I'm definitely pleased with the lack of profit-taking. A lot of shares were sold in the past week at .0061, and they could be sold for a nice profit at .0085, but everyone seems to be holding strong.
There should be a 10-Q next week. Any expectations?
Interesting day so far. Usually it starts out like this but by noon there have been some massive sales in the sixes out of the blue. But it seems to be holding based on normal bid/ask pressure today. Like what I see. May be coming out of this funk soon.
I think everything you said is fairly accurate, but you're leaving out some considerable risks. I'm a fellow long, but I'm not sure I'm quite as confident as you are.
1) By not being able to get anyone to make agreed payments, they force dilution to finance debt and potentially even more future dilution to remain a going concern. So even if the patents turn out to be worth a considerable amount, the share price might never reflect that. Which leads me to
2) Not enough proof yet that the patents are extremely valuable. While I'm certain that the intellectual property here is worth millions just based on future potential drug development, there's no evidence that it's worth billions, like you say, until clinical trials prove otherwise.
3) Other red flags. There are a couple of other red flags that have concerned me since I started following this stock. One of them is Dr. Chain's extremely high salary. Most CEO's of dev-phase companies make a decent living, but they tend to have a large percentage of their income as performance-based bonuses and stock options. If Dr. Chain believed that this company was sure to succeed, he'd be paying himself in stock and in bonuses for getting deals closed, not a huge salary that might take dilution to pay. The other red flag is the bullshit "news" that gets released sometimes that's just Dr. Chain sharing his opinions about the market and AD drug development. It's looks like a rookie attempt to make "something" happen with the stock when nothing has happened for a while.
Really? I never lose money watching the grass grow.
He was all that wise according to all the collective waiting ILNS shareholders have been doing.
Good or bad, I just wish something would happen.
It's some kind of mirage. I've been seeing similar numbers all week. I guarantee you that if you put in an order for 100k, it won't fill, even though it shows a million on the ask.
It's not real. I put in a bid for 150k shares this morning and even though it showed millions of shares on the ask, it only filled 35k before the price jumped.
So the outcome is that they are partially granting the seal order. All the documents will be public, but they will redact the dollar amounts.
The stipulation to adjourn was weeks ago.
Today's document is just the ruling on the seal order, and on the document it isn't checked that the motion was granted...they checked "other," but I have no idea what the court is asking PFE to do here.
The CFO does not have an obligation to explain every document filed in court to every shareholder who calls. That would be insane. Why don't you just wait and let someone on the board explain? It looks to me like the judge is requesting some sort of transcript before ruling on the seal order, though I'm not sure what he's requesting a transcript of. It may come at some cost though, and that cost falls on the "movent," which I believe is Pfizer, since they motioned to seal.
I was going to wait until someone who understand legalese better than myself could interpret, but here's what it says:
"Motion is decided on the record. Transcript to be So Ordered. Parties to submit transcript to the Court forthwith."
Then there's a handwritten note stating: "movent directed to order the transcript & bear the costs."
The check boxes at the bottom have "non-final disposition" checked. As well as "other" for the ruling on the motion.
So I think we need a translator.
New document filed in reference to the seal order motion in the PFE case.
And why are you expecting this news soon?
A little while ago Ameritrade was showing 45MM shares on the bid at .0065.
A quarter of a million dollars on the bid right now. Never seen money like that on ILNS.
Now it's 12.5MM at .0069, which is over $80K
11,000,000 shares on the bid. Wow.
Has anyone on the board followed other NY Supreme Court cases? If they met this morning, how quickly should we expect to hear a decision on the seal order motion?
It's crazy to see a company that is such a well-known and major player in the world of pharmaceutical R&D for multiple diseases have a market cap under a million dollars.
That's a good question. I'm hoping it's because the contract terms make an obvious case for ILNS.
Court appearance this morning in the Pfizer case. I think it's in reference to the seal order motion. Let's hope they don't get to seal so we can see some of the details of the contract terms.
You're right that they got a response saying they don't believe they owe the money--its WHY they got that response that we're disagreeing on. I don't think it's because Pfizer is trying to keep ILNS from having the 2MM to grow their business. I think it could be for a lot of different reasons, many that I've mentioned in prior posts, but I doubt it's that.
You talk about "the company" like it's a person with a single agenda. Have you ever worked for a big corporation before? It's thousands of people all with their own small areas of responsibility. A lot of them never ever communicate with each other, and they all have different budgets and costs and expenditures. Saying "Pfizer isn't paying Intellect what they owe them" might be factually correct, assuming Intellect wins the suit, but it certainly oversimplifies things to the point of being a pointless thing to say.
That's why they legal teams on both sides pointing it out, and they don't just ask you what you think and consider it settled. My point isn't that Pfizer didn't do anything wrong; my point is that it's so much more convoluted and complicated than you guys think, and you have no idea what you're talking about.
I'm none of those. I'm an investor in ILNS. I just don't believe in conspiracy theories from a bunch of uninformed people on a message board. I don't think Pfizer is a great company or anything, I just thing that all the stuff said about them on this board is stupid.
I doubt that ILNS even knows who to contact about this in the event that the people they drafted the deal with are non-responsive for some reason. I'd like to see you try to find the name and contact information for the person at Pfizer responsible for the AD R&D budget. Big companies are complex, stratified, and bureaucratic; managing a million contracts isn't as easy as you think.
I still think it's quite possible that Pfizer is simply reviewing all the information and trying to get their shit together to respond to the suit because something simply slipped through the cracks. Sure, it's possible that someone intentionally ignored their obligation and refused to pay up, but I really don't think there's any chance that's the most likely explanation.
Pfizer is a huge company. The tiny deal with Intellect was probably signed by middle management and went through a standard procurement process. They might not even have the same team in R&D that was initially involved. It's quite possible, even, that they didn't have any idea they owed someone money until they got sued.
There is so much talk on this board about how Pfizer is corrupt and trying to sabotage ILNS and intentionally breached the contract. There are A MILLION more likely explanations than that for what happened.
Opposition papers from Intellect on the motion to dismiss are due tomorrow.
Yeah, I get that it doesn't translate to a lot of money, but it's about what the average daily volume is for this stock. Meaning that we're unlikely to move anywhere above these levels without some significant news.
Yikes. Over 1,000,000 shares available at .011
Nope. Nothing's been filed since they agreed to adjourn until April 5.
Well, at least nobody's selling a bunch of shares today.
wow, haven't been following this for a couple of weeks. when did it become such a disaster?
Some fishy trades. 650 shares at the bid? Come on.
This sucks. I'd always assumed that when some volume came in it would raise the price, but there is an apparently endless amount of available shares at this level. I'm not sure why, though.
1,000,000 shares available at .0185?
Where are all these shares coming from?
Whoever happened to have an ask set at .135
You guys are crazy. This was obviously a mistake--no one would buy at ten times the ask on purpose. However, you're right that it brought some much-needed attention to the stock!