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Per the 9.11 p/r, BPAX is a shareholder in Cold Genesys...how much does BPAX own %wise??
http://www.businesswire.com/news/rxtimes/20120911005169/en/Cold-Genesys-Announces-Agreement-FDA-Special-Protocol
I think Bilirakis mite have just been wrong in his assertion that only one competitor is being considered. Why? In Garza's opening remarks to the hearing, he stated:
"Phase I testing for the Gen-3 acquisition, which was completed in June 2011, assessed the maturity and technical capability of the biodetection technology market against a robust set of system requirements. To accomplish this goal, Phase I included assay/characterization testing and field testing of candidate Gen-3 detectors. We are currently preparing to enter Phase II,
which will allow us to test a small number of production level units to ensure they meet performance standards. Once they do, the remainder of the Phase II acquisition will be a full and open competition, and vendors will be evaluated equally in accordance with the terms of the Request for Proposal (RFP)."
That to me directly contradicts Bilirakis' statement. What do you think?
Right, i thot i remember a bill like that was passed. Thing is tho this just prevents members of congress from trading under their own names i believe..ie. i wonder if they can still pass the info onto friends and family.
Rexcrissy: have you called Rep. Bilirakis' Washington office to find out the name of the one company?
In his questioning of Garza he didn't pose to him the question he asked in his intro! (" And how is it possible that the Department is down to only one single competitor, when we know without a doubt that many engineering and biotechnology companies are making biodetectors for the Department of Defense, and even for DHS itself? "). I tried calling Bilirakis'..called his local office..they referred me to his washington office as the staffers there would have info on it..but it doesn't work with google call (i also tried lungren's washington office..didn't work..i think they have blocked calls from google call down there)...i don't feel like calling on my mobile phone plan..not sure what the long distance costs would be.
Agreed. Thing is the situation of them being down to "one single competitor" per Rep. Bilirakis' comments, could change? If more scrutiny is given, perhaps DHS will consider more.
And if Bilirakis is correct in his assertion that it is just 1 company being considered (I would like to see this confirmed by another source)..why is DHS gonna even bother with RFP's?
Further in Bilirakis' questions i didn't hear him ask his intro question (" And how is it possible that the Department is down to only one single competitor, when we know without a doubt that many
engineering and biotechnology companies are making biodetectors for the Department of Defense, and even for DHS itself?") to Garza? That to me was a VERY key question, and he didn't even post it apparently.
Your reading of Garza? Garza whom? Link Please..update: i see what you're talking about..http://homeland.house.gov/hearing/joint-subcommittee-hearing-biowatch-present-and-future-meeting-mission-needs-effective
Dr. Alexander Garza, MD, MPH
Assistant Secretary for Health Affairs
Chief Medical Officer
U.S. Department of Homeland Security...
Also I would almost think it's not PSID that's the 1 competitor at this time that Rep. Bilirakis mentioned..why? because congress can trade on inside information (per the news stories that were out this year)..and wouldn't you think they would be buying up PSID stock en masse?
So why doesn't Ihub have the p/r from NAVB's CRL yesterday? I've been noticing that Ihub will just flat-out miss a small % of p/r's or sec filings. Completely unacceptable imo.
Yep, that is the case. iGlucose hasn't really launched yet apparently. Not sure why. Or maybe it has "launched", but they haven't been able to get any purchase-order contracts with any distributors yet.
Other than that, they have no other products for sale, besides M-Band units. And for it, if it is correct that the federal government considers PSID as one of the two front runners running for BioWatch Generation 3 contracts, then there are sales potentials here.
Also, it is just me, but i don't buy that the the BioWatch contracts will total $5b. How many units does the government want to buy? A calculation of the # of units desired X purchase price of unit, would indicate how much the government is looking to spend.
Why couldn't insiders buy shares if they wanted to? Don't tell me that they are in a blackout period, cause i think that is an false excuse (that they have have and have had plenty of opps to buy).
I agree with your posts more or less. I don't think Silverman is calling the shots tho. I think that Caragol wants to help out his bud Scott Silverman, and so is basically giving him Verichip for not much. And that Caragol wants to focus exclusive on the bio-testing sector
It's completely irrational tho as far as i can tell. A reverse split just changes the share price. It should have no effect on the valuation of the underlying company so far as i can tell per finance theory
a) i) Under the VeriTeQ Asset Purchase Agreement, the Company is to receive royalties in the amount of ten percent (10%) on all gross revenues arising out of or relating to VeriTeQ’s sale of products, whether by license or otherwise, specifically relating to the embedded biosensor intellectual property,
ii)
Minimum royalty requirements thereafter, and through the remaining life of any of the patents and patents pending, are as follows:
2013 - $400,000;
2014 - $800,000; and
2015 -through expiration of the patents (patents granted and pending) - $1,600,000.
b) the two companies decided on it
c) the executives of the company
d) not sure why it wasn't put before shareholders..re: what kind of businessman "gives away" value for free..what was given away for free by PSID?
No, it doesn't mean that "they are free of charge". PSID already owns them, and is simply exempting them from this transfer deal. Therefore PSID has gotten nothing free here, nor is it gona get anything free thru this deal.
Regarding your statement that 'Part of the deal was merely to reduce payments from 12k to 5k a month - which is a good deal, considering liabilities have been further reduced.', i think that is wrong..ie. that it is not a good deal (ie. for PSID)...it's VeriTeq that was paying that money to PSID. So it's less money spent for VeriTeq..and less income received for PSID.
Oh, you're right, I get the gist of it now.
a) "On August 28, 2012, the Company entered into an Asset Purchase Agreement with VeriTeQ (the “VeriTeQ Asset Purchase Agreement”), whereby VeriTeQ purchased all of the intellectual property, including patents and patents pending, related to the Company’s embedded biosensor portfolio of intellectual property. "
b) "Simultaneously with the VeriTeQ Asset Purchase Agreement, the Company entered into a License Agreement (the “License Agreement") with VeriTeQ granting the Company an exclusive, perpetual, transferable, worldwide and royalty-free license to the Patent and patents pending that are a component of the GlucoChip in the fields of blood glucose monitoring and diabetes management."
So basically i understand part a) means that the company sold the "embedded biosensor portfolio". Then b) was to exempt the GlucoChip from that.
You screwed up in your post. In the 2nd part you list PSID twice ie. "PSID gives" and "PSID gets").
Silverman is not on the board of directors at all!
http://www.positiveidcorp.com/board.html
Here's the details on the Verichip sale..was acquired by Scott Silvmerman's company Veriteq:
"On January 11, 2012, we contributed certain assets and liabilities related to the VeriChip business, as well as all of our assets and liabilities relating to our Health Link business, which is a patient-controlled, online repository to store personal health information, to our wholly-owned subsidiary PositiveID Animal Health (“Animal Health”). We ceased actively marketing the VeriChip business in January 2008 and the Health Link business in September 2010.
On January 11, 2012, VeriTeQ Acquisition Corporation (“VeriTeQ”), which is owned and controlled by Scott R. Silverman, our former chairman and chief executive officer, purchased all of the outstanding capital stock of Animal Health in exchange for a secured promissory note in the amount of $200,000 and 4 million shares of common stock of VeriTeQ representing a 10% ownership interest. In connection with the sale, we entered into the License Agreement with VeriTeQ dated January 11, 2012 which grants VeriTeQ a license to utilize our bio-sensor implantable RFID device that is protected under United States Patent No. 7,125,382, “Embedded Bio Sensor System,” for the purpose of designing and constructing, using, selling and offering to sell products or services related to the VeriChip business, but excluding the GlucoChip or any product or application involving blood glucose detection or diabetes management. We will receive royalties in the amount of ten percent on all gross revenues arising out of or relating to VeriTeQ’s sale of products, whether by license or otherwise, specifically relating to the patent, and a royalty of twenty percent on gross revenues that are generated under the Development and Supply Agreement between us and Medical Components, Inc., (“Medcomp”) dated April 2, 2009. Our right to the Medcomp royalty payments will terminate three years following written clearance by the United States Food and Drug Administration of the Medcomp product that incorporates the VeriChip product."
http://ih.advfn.com/p.php?pid=nmona&article=51798456
I think they sold the verichip rights to some other company in the last year and half. Don't remember which company that was
411guy: It shud be either a) iGlucose sales or b) a contract for M-Band
bull_investor: why did you quote it to make it sound like i think PSID is a scam lol? I think it's a real company..i don't think it's easy to get FDA 510k approval two times (verichip + iGlucose)..
Yes zero revenue on most of their products. I think m-band has made some. iGlucose hasn't launched yet. And easy check and glucochip are still in developement.
I don't know much of anything about those other companies whose symbols you listed. What happened to them? What was their line of business?
I don't think inferences that because they filed, PSID is a scam or something. PSID has actual lines of business. M-Band, DragonFly, iGlucose, Easy Check, Glucochip.
Yeah, that's a very good point imo. Mr. Silverman's selling could account for a lot of the price decline. I hadn't realized that till now (and I had just found out yesterday that Mr. Silverman sold shares post 3.29). That's a lot of supply to fight the demand.
As of his most recent form 4, filed on 3.30, he held 34,973,263 direct shares and 2,785,008 indirect ones. And per the 7.19 form 13d/a he owned 23,773,263 direct shares and 2,785,008 indirect ones.
So that's a drop in his ownership of of 11.2m shares in that time period.
Also since Mr. Silverman is a 10% owner, i've contacted the IR at the company inquiring if they been in touch with Mr. Silverman at all (ie. as to why he has not filed the legally required form 4(s). It's my understanding that he's in violation of SEC law right now.
Yes per the s-1/a on 3.28.12 his shares are on the there to be registered with the SEC.
This is normal practice tho in a sense..pretty much every stockholder wants their their shares to be registered, so they can sell as they please. (ie. who wants the government restricting when they can sell their own property).
And my own prediction is that Silverman will not sell anymore shares in 2012 while the company is trading at a valuation of lower than say $8m. If he does sell any in that situation, I would not look upon that favorably at all and would look into selling my position.
Aaah, not gonna post much on here anymore? Dang, I hope you at least share the most pertinent you find. You've been pulling up stuff on Biowatch + RFP that nobody else has been...
Nope man, 10% ownership is calculated by the SEC with outstanding shares, not authorized shares.
Why do you say all or nothing tho? The current market cap is like $2.5m. The sales of iGlucose in fiscal year 2013 could be larger than this current market cap.
Additionally if they get nothing from Biowatch, the 5.16 p/r indicates they have also submitted/or are submitting bids totaling more than $16m across 6 government agencies.
For the sept 13 hearing, Lungren and Bilirakis will be there too:
http://homeland.house.gov/hearing/joint-subcommittee-hearing-biowatch-present-and-future-meeting-mission-needs-effective
Thanks Rexcrissy. I think you're doing some of the best DD here.
Dude he is still a 10% owner per the 2nd link you cited. It has him at 25.7%! 2.5x over 10%.
Regarding where the 11m went, i'll look into it sometime coming up.
Also, the most recent form 13d filed for Scott Silverman, on 7.19.12, has 24.0% ownership. http://ih.advfn.com/p.php?pid=nmona&article=53531255
OK, but posting my old post did not help me at all. I need the filing type of this apparent "Scott Silverman is going to sell his shares". At the moment i think it's complete b.s. There's been no form 4 for such. And i've seen no mention in any other filing. And i've looked at the majority of them over the year. And further no mention in the 10q's and 10k's which i've looked at i think fairly closely.
Well I don't have a lot of free time to look for that. Need to use it to make a buy decision potentially asap. What's the SEC form type at least??
Further I doubt this on the surface, that Scott Silverman would sell his position when the company is valued at $2m. If PositiveID's positioning for the Biowatch contracts is legitimate, then I don't think he would be that stupid. The risk-to-reward at these company valuations levels is pretty darn low I think.
Ok, i think i pulled the $15m figure from the article that Rexcrissy posted here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78741866, so it's not quite relevant...
One thing I think is wrong is that I don't think that DHS will be awarding any billion dollar contracts to Northrup Grumman or PositiveID. I can't remember where i saw it, and it mite be wrong, but I thot i read that the first contracts in the Generation 3 (if it gets the governmental funding) will be like $15M.
Did anybody else see this? Can anybody verify or disprove?
New convertible note issuance detailed in 10q..agreement reached on 8.14 for up to $400k. 100$k of it issued on 8.15. Convertible at 2c or 75% of the lowest closing price in the 25 trading
days prior to conversion. 2.77m warrants issued as well with $0.018 exercise price.
Which SEC filing is this please? can you link it? The s-1/a filed on 7.27 was for 34m shares exactly...but in the part on "selling security holder" it indicates that this 34m is for the July IronRidge financing.
So how low do you guys think the s.p. will go? With 169,346,089 shares o/s per the latest s-1/a (7.27), the current company value is $2.02 with the s.p. currently at $0.0120. That market cap is way too low imo for the speculative risk of them gaining a contract under Biowatch Gen-3.
I don't think the price being at 52 week low here of $0.0120 is the being driven by just the supply of the IronRidge financing. (2m share tranches. And a tranche can be sold for every 6m shares of volume the stock has.)
On this..a) I don't think the company wants to issue to many shares at this imo ridiculous market cap level..just enuf to scrape by b) the extra supply of 2m shares here and here can be easily offset by buyers c) If IronRidge is selling for $0.0120 here, i'm pretty positive that this would be a loss for them. So i don't think they are selling here..They only get a 10% discount.
what do you mean that it's 'not certain whether or not' the amendment will be part of the PMA?! If it's not part of the PMA, than what would it be part of? Can you throw me a bone hear. Thanks
Thanks for the DD in there Gary. Picked up a few things from it. Q on the cancer-cachexia results...when are they supposed to be out?!
I see from the company's site that it's in phase 2a right now (http://www.aezsinc.com/en/page.php?p=31&prod=26).
thanks
oh ya, my bad..that was a typo..i meant $10m