They work for us and have failed. I don't remember having any bosses that worried about being tactful if I lost 95% of their money. Tell her to give them hell, I would love to see that

From my point of view there is no good choice here (even if ANI is good to us the deal is based on crummy valuation and some fishy CVR stuff). Whatever we get, we'll never know how the other one would have turned out - so I don't see this as a right/wrong (correct/incorrect) type of thing. As they say, pick your poison.

Based on how I feel about BPAX and that I might want to sue them after the deal, I'm voting NO.

I hope ANI kicks butt and we all make millions. If that makes me wrong, I don't want to be right.

double post sorry

That would depend on what the provision was (and I still don't like the valuation).

I will not however, under ANY circumstances being voting for "golden parachutes" for these incompetent jackasses.

Nice try. My post wasn't about market caps or reverse splits. It was calling you out for posting statements like "cooperativity with us in the future". I've said it before... At best this type of statement is drivel and at worst you are preying on peoples hope. As a matter of fact, you also tried fear (of shorts) in the same post. Hope and fear are tools of liars and drivers of fools. Which one are you?

I have history on my side when I say I trust NO deal Simes brokers, what do you have?

Be weary of those that are telling you what you want to hear.

To put it yet another way, if you would rather take your chances with new company because of whatever reason - be they facts, guesses, feelings, whatever... just say that. When you start saying things like if we give them what they want they will be good to us in the future - you have to be called out on it.

It is simply stunning how naive some people are. "cooperativity with us in the future". Have you lost your mind? Where did you find this guarantee? You might suspect me of being short, but I suspect you of having sustained serious head trauma if you really believe that.

Very interesting. Much appreciated.

Sure. As long as there's some CVRs in it for me. They are oh so valuable.

I answered that question in the post you replied to. Sigh.

Do you have any interest in a timeshare?

Pretty funny when "VictimOfSimes" starts calling others shorts/bashers.

Do I need to drag out all of your posts about how you don't trust Simes, think he should be in jail etc? That was you, right?

How is it that you suddenly think this deal is a good one? Because it gets rid of Simes? I agree with you that is a postive but since he's one of the architects of the deal I am very, very suspicious of it. I'm surprised as one of his "victims" you aren't.

Man I wish I had some oceanfront property to sell.

Ah come on. You will never be succesful without positive thiking. Things will be so much better soon! So, so, so much better. We're going to follow a plan proposed by someone who screwed all of us repeatadly but he promises that this time he won't! We just have to give them all a few million more to pull out and let us up and then it will be great!

They have given me no *reason* to believe this merger will result in a better situation for me. Nor have they given me a *reason* to believe that their priority is my situation (as it should be).

IMHO a vote of yes (at this point) would clearly be an emotional decision (hope/fear) since they simply have given us too few answers to choose it rationally. This leaves a vote of no (at this point) as the only rational decision at this time.

There is a world of difference between revenge/spite and refusing blind trust to a criminal - even if you express emotion in online message boards.

Like you said: vote yes or no. And like you said: revenge/spite is dumb. What you didn't say is: don't be a punk to fear and a fool to hope.

Thanks for taking the time to post.

Six hundred grand is a lot less to Simes and his buddies than what I lost is to me. Boo boo he can't buy another Bentley.

Funny thing is - if what he's saying is true then he's also saying that they are a bunch of incompetent d-bags. Which is what I've been saying. I never expected he and i to agree on this.

If they were anything other than scumbags in way over their heads they would all take no salary until they righted the ship. The ship however, has NEVER been their concern.

F the golden parachutes.

"Trust me, I don't get mad I just get even and I am certain it won't be hard to get others to help get even. "

You are correct sir.

Sorry, poorly stated.

I included "Mad Money" in my suggestion which I believe is part of or runs/owns "The Street" where Adam F. works.

I included "thestreet" in my suggestion. I believe Adam F. works for Cramer.

Wow that's a lot of information - Looks great to me.

I hope it grabs peoples attention. We're all so used to dismissing emails off-hand. I wish I knew someone in that world so I could contact them directly about this.

Here's a few ideas:

Jim Cramer: MadMoney@cnbc.com

CNN news tips (form): http://www.cnn.com/feedback/tips/newstips.html

Fox news tips: foxnewstips@foxnews.com

PBS news hour story ideas (form and fax): http://www.pbs.org/newshour/extra/contactus_student.html

Wall street Journal executive editor: raju.narisetti@wsj.com

I get that. I have no problem with trading. I have a problem with what is being traded - in this case is something that is more and more appearing to be a criminal enterprise. And when the underlying security is a cicrus (like BPAX) it makes manipulating the price of the security that much easier for those that already have a HUGE advantage over the average person.

I'm with you on that. The exception being if they actually answered all questions to our satisfaction and appropriately valued the assets. However, based on what JTFM has uncovered... I don't see this happening outside of court and/or after a failed merger that we vote NO to.

Jeff. Not sure why all the volume now on no news. I tend to agree with the others about it - most likely a walk it up trap to dump shares on new victims err investors.

Imagine if any of us ran our businesses like these scumbags. Think If you did things like misplacing 30 million you would be a would be golden parachute millionaire? Hell no, you would be in jail. Funny how their honest mistakes (accounting mistakes, leaking results by canceling conference appearances, accepting flawed trial designs, letting Tang in the chicken coop) all seem to have kept us right on the road to this "best option" for shareholders junction...

JTFM. Thanks so much. Hope I can at least buy you a drink someday. Glad you're on our side.

Glad to hear you are in. I understand your need to honor professional courtesy. I just hope that the the SEC, FBI, whoever finds a case that can and/or is worth (to them) pursuing. If they don't then we have only given the theives more time to obfuscate and confuse what they've done here.

For instance... Here's what the SEC does for us little guys:

"Lou Pai, chief executive of Enron Energy Services (March 1997 – May 2001)

Pai is the founder and chairman of Element Markets, a renewable energy company that is now home to several former Enron senior employees.

He had resigned from Enron six months before it filed for bankruptcy. Pai cashed out almost $300m in Enron stock in May 2001– just before the company’s collapse.

In July 2008 he agreed with the SEC to pay $31.5m in fines and disgorged profits, including $6m previously forfeited for the benefit of Enron shareholders. The SEC alleged that Pai sold Enron stock in May and June 2001 on the basis of material, non-public information concerning Enron. Pai simultaneously settled with the SEC without admitting or denying the allegations.
"

http://www.efinancialnews.com/story/2011-12-01/enron-ten-years-on-where-they-are-now

Thanks.

JTFM, JEFF, Everyone.

Perhaps someone with decent writing and investigative skills could go and sign-up to become a contributor on seeking alpha (or the like) and write an article on this? A provacative title and some of the DD from this board in that article might get the attention of the SEC and would definately get the attention of BPAX and ANI BODs.

Seems like the media might be a good way to light a fire here.

Just a thought.

Thanks. A lot of food for thought here. I anxiously await seeing who really owns ANI as well. I hope they don't have some further way of obfuscating this.

Perhaps I can put aside being pissed at management and approach it like Jeff is talking about - that if we could get real answers to some important questions then a "yes" is not out of the realm of possibility. I'm just so tired of being left in the dark. Why cloud things unless you have something to hide?

However, I would still say that when the "facts" are finally revealed, we have to be careful - the oldest con in the book is to admit the little lie so you can distract from the big one. And this just feels like there is a big one somewhere.

JTFM. I 100% agree that BPAX asssets are being undervalued.

So the question is what do we do? If we vote "no" to merger then what? Can we survive another year? Will we get beaten down in the next year like we did in the last? Are we opening ourselves up to a hostile takeover?

If we vote "yes" well, that's not a pretty option either as I agree that BPAX assets are essentially being given away. Do we really need this merger now? Are things really so bad that we have to give it all away to survive?

I personally lean toward vote "no" based mostly on my gut (a lot of emotion there I admit). I feel like we are being held hostage by the people who created the mess to begin with. I would rather not let them off the hook. They got us into the mess and they can get us out. No quietly exiting when nobody is watching for them. They fix it, or we all go down in flames.

You and I usually don't see eye to eye but I always appreciate your thoughts and I would appreciate them on this if you are so inclined.

Thanks.

Spunky. You are forgetting one critical point. It's not about track record. There is no way that we can learn anything from the past, ever. What does matter, is "the opportunities that could be from where were headed". Forget the constant failures of the past. Why should be learn from them? We have the bright and sunny future with our new bunch of thieving liars to dream about.

Nut. FYI if I am one of the unamed "bashers" - I have alread stated (several times) on this board that the merger may very well be the only viable option the company has at this point (although for different reasons than you would use):

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80901772

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80919397

Oh ya, one other thing: When you say things like: "all they can talk about is the current stock price i.e where we've come from" I have to ask myself - Is he seriously suggesting that people should ignore the track record of this company? You see, you might call me an idiot, however I know very well that you are not an idiot... and knowing that makes the answer (and your motives) pretty clear. Doesn't it?

If the product pipeline is staying with bpax and it is not being assigned appropriate VALUE then it is a dilution.

If I have:

$32,000,000 in my pocket (present value)
A post-dated check for $4,000,000,000 that I can cash next year.

What am I presently worth? Should I sell 53% of my check for 36 million and a promise I can keep 40 million + 47% when the check clears?

We invested in this company because we believed that they had product(s) that would be very valuable in the future. Now they are telling us they are worth nothing? Is ANI bringing products that have the same potential? If they are not, then it is dilution as we will own less than half of what we did before for less a tenth of what we are giving up.

If I understand correctly, the CVRs are meant to compensate for the "appropriate VALUE" I mentioned. SO, the issue is: Are the CVRs adequate compensation?

As I'm sure you know - I think you are right in complaining to the SEC or whoever. However, my experience with the SEC has been that they completely ignored my complaints. Compleletely. Period.

I think we are looking at a lawsuit and possible SEC action (if enough of us complain).

After I realized we were dealing with scumbag criminals I started to assume that legal action of some sort would be necassary here. I've just been holding and waiting for the rest of you to see the writing on the wall and get angry too.

I will hold and continue to hold - as I would rather lose every dime I've invested and am even willing to throw more away on a lawsuit to expose them as the thieves they are than let them have their way with me.

Get angry people. It's about time.

Agreed (those shares will not be touched in merger). We will get an R/S on merger (merger=dilution). Then the shelf shares will be sold later (or immediately if the market likes the merger); which equates to further dilution. Why only bang us once when they can get a twofer?

I agree. I filed and SEC complaint that day. It was leaked and we were left holding the bag. I have never seen anyone else on this board even mention it. Never heard back from the SEC either.

Thanks for reply. I said illegal but I should have said libelous. What have we got to lose at this point? Agreeing to hold back the safety data is exactly the same as agreeing to hold down the share price to make this crappy deal seem like a good option.

While you are correct that companies do this all the time; few of them have first been driven into the ground more than this one. They have destroyed almost all value for what's behind the curtain and now we're not allowed to see it? Not allowed to show it to the world and possibly get back a little of the hundreds of millions lost? Seems pretty damn fishy to me.

It's like having a lottery ticket that cost you ten bucks, has a 1 in ten chance of being worth a hundred bucks, but selling it for a penny without checking the number.

Nutsy, I'm confused by what it seems you are suggesting here...

Isn't being in collusion with another company in order to prevent catching "the attention of other interested parties" (which is another way of saying cause an increase in share price) the most unethical and illegal thing Biosante could be doing? They are after all responsible for our interests (and only our interests) and this action would clearly not be.

How could they intentionally hold back on a binary event in order to sell the company for pennies on the dollar when the stock price has taken a 95% loss? Are you really suggesting that is their plan?

If you are suggesting it is to prevent a hostile take-over, at the current share price, couldn't the company could open the coffers, buy enough stock on the open market to make a hostile take-over difficult to impossible, then sell shares after the upcoming amazing binary event?

What am I missing here? Perhaps I misunderstand what you're saying?

There's been a lot of disagreement on the board lately. In the spirit of the season I just want to remind everyone how lucky we are to own this awesome stock. Remember that if we still had all the money we pissed away on these jackasses some of us would have most likely spent it on fine women, fine wine and fine cigars; and what a sinful shame that would have been.

Happy Saturnalia, err I mean St. Nicholas Day, err I mean Winter Solstice, err I mean Christmas!

aargh.

JTFM, this post got me thinking and I must say that every day the goes by with no merger news, proxy info etc; it seems more and more likely that ANI was in fact "being used to shelter Biosante" as you (and perhaps others) have suggested.

Along those lines, it seem to me that this was a very clever strategy IF they have some amazing news that is to be released soon. If they don't and the merger is only a cover, the blood bath we've endured the last 11 months could look like a walk in the park.

On this I agree with you 100%. He will get the best deal possible. My point about the BOD is that I think they have well proven that when they claim they have the best deal possible what it really means is they are about to get the best deal possible and if we get "royally screwed" oh well. Remember they got the best deal possible with Tang too. That was really a good deal for us ehe? 4 gazzilion share at a loss on paper does not mean that he didn't make a ton of money (at our expense). None of them will lose much if anything on this and they will probably come out way ahead.

As much as I want the Abbvie thing to be true and the merger to be our best interest; I feel like I'm being sold a lifeboat full of cobras on a sinking ship.

JTFM,

So you're saying you trust the guy that in 13 years hasn't been able to return the BPAX shareholder anything and has helped piss away hundreds of millions? $60 high to $1.51 at present.

LOL. Seriously?

Every few weeks you post some weak "argument from authority" using the BOD. The BOD has failed. It's bizarre that you keep going back to this.