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The .10 conversion price on the new financing is intended to try to keep the share price where it is now before the major secondary offering is announced.
Whatever portion of the $1.4 million that is utilized will be more than likely paid back to the with cash from the new funding and not by converting shares at .10.
Why would they convert shares at .10 when the new secondary will probably involve shares purchased in the .07-.08 range or lower?
All imho.
Anyone who bought AMBS above .092 should send Gerald a note thanking him for "locking in" your loss.
Substantial dilution is on the way.
The light at the end of the tunnel is the dilution train about to run you over.
Cover? I never short stocks. I don't think it should be allowed except that a shareholder should be able to "short" the same number of shares that he actually owns.
If you want to pay .09 for a .04 stock then go ahead. It's your money.
Time will reveal all or at least a good portion of it.
I do feel bad for those individuals that recently paid substantially more than .09 for shares.
p.s. I'll post "I told you so" when the secondary is announced.
Every new patent improves the likelihood that Vascepa's New Chemical Entity (NCE) status will be granted for a period of five years.
Obviously it increases the value of the company as a takeover target.
I'm still expecting a buyout in the $22.00 range sooner than most shareholders expect it to happen.
"Big pharma" is expected to spend almost $60,000,000,000 this year on mergers and acquisitions.
Sorry about your upcoming losses. I know you expected the company would never dilute which wasn't realistic.
The "cover story" about the 1,000,000,000 shares being authorized to prevent a hostile takeover was a myth.
Take the .09 and don't look back.
Consider re-buying after the secondary is announced.
Penny stocks dilute to survive. It's the nature of the beast.
I don't expect they will ever convert at .10. The company will use funds from the $15,000,000 secondary to pay off the "bridge loan".
That's how it's done in penny stock land.
If you own this at more than .092 you're pretty much out of luck.
The bridge financing will give the company a little time to secure the $15,000,000 in financing that it had previously indicated it was seeking.
I'm thinking that the dilutive funding would be in the .06-.07 range with warrants issued for each share that converts at a higher price.
The news should drop this back to the .04 range.
GLTA
http://seekingalpha.com/article/1146231-stock-watch-thursday-31-january-2013?source=yahoo
Amarin's Rebound Potential Taking Shape With Dip Below Eight
Shares of Amarin Corporation (AMRN) dipped below the eight dollar mark on Wednesday, which means relatively little in the grand scheme of things, but could be a psychological level for the more squeamish investors who may have had stop loss orders set at that point. Investors have been nervous enough as shares slipped following Vascepa's approval last year,and it also didn't help that some popular financial media outlets railed the company during that time, too, when a buyout didn't take shape and the company decided to go-it-alone for the Vascepa launchy.
With eyes towards the future with due consideration to the potential of Vascepa, the current AMRN levels could turn into a nice rebound buy over the coming quarters, especially if the drop below eight incites additional selling. Amarin's current market cap gives little credence to the fact that many still consider Vascepa a potential billion-dollar blockbuster on an annual basis. It may take some time for the product to catch up to its potential on that scale, granted, but strong first year sales that approach even half that amount could spark an influx of new conviction and quickly have shares approaching previous highs.
Over the shorter term, and as mentioned previously, Vascepa's New Chemical Entity (NCE) status is key. A positive approval there will likely send shares over ten in a heartbeat, as it will confirm the product's extended protection on the open market, and could be the final piece to any buyout puzzle that may be in the works.
With the above-mentioned items in mind, AMRN's continued dip is setting up as an attractive buy, in my opinion, for those banking on potential. As I've mentioned before, this story reminds me of the trading action experienced by Human Genome Sciences before that company was swooped up by GlaxoSmithKline (GSK) when it was all said and done. As has been the case for some time now, one of the hotter stories to watch, especially as the stock drops on no negative news release.
Major dilution is on the way. $1.4 million will be the "bridge" financing until the company issues a secondary offering to raise the $15,000,000 as previously indicated.
This is headed back to .03.
1,000,000,000 shares is a lot of shares.
Penny stocks dilute. It's what they have to do to survive.
We all know it's going to be released soon.
Personally I'd like to see the company announce they've recovered at least $250,000 worth of gold.
That would put the "Gold Rush Alaska" miners to shame. Possibly "Gold Rush Arizona" might be next.
I haven't ruled out that at some point there may be financing coming into the company from China.
Stranger things have happened.
Doubt if you'll get 1,000,000 shares at .015. You might be able to get them at .02-.022 in a day or two or over a number of days at .019.
News is coming soon.
I could be selling 300,000 a day now at .0185 but have decided to wait and see what the production figures reveal.
A better definition of a "long" is someone who is holding the stock at a loss currently.
The vast majority of individuals that bought this below .06 sold at a nice profit and moved on.
Hopefully you'll get a bounce before the dilutive funding is announced.
GLTA
p.s. I know how it feels to be underwater on a stock. I own BONZ at .02 and AMRN at $8.21
Site looks great.
http://www.vascepa.com
It's not difficult to explain when the share price has fallen almost 60% from its recent high on dropping volume and has trapped numerous longs holding millions of shares at a much higher price than the current one.
This will hit .05 before it ever sees .15 again.
All imho.
Virtually everyone who still owns shares is holding at a loss.
Or they weren't smart enough to sell above .17.
If I have to explain why this is true then you probably wouldn't comprehend my explanation.
I noticed you didn't say it would not go above .04. :)
I expect it will be above .04 at some point in the next two weeks.
p.s. Expect news out soon.
No news this week should drop it to .015 or lower by Friday.
What else it new?
I agree. The ship is about to sink. To get to the "eye" recent investors have lost almost 60%. Coming out the other side of the storm expect that to increase to 80%.
See you at .03 soon.
If you can get out at .09 and rebuy below .04 that would be the best move.
GLTA
Found this to be an excellent explanation of "NCE" from a Motley Fool article as it applies to Amarin:
What's NCE? Does it matter?
The new drug application, or NDA, process automatically involves the FDA's process for determining how long the drug should receive market exclusivity, a basic protection from generic competition. Five years of protection are awarded for a new chemical entity if the drug contains an active ingredient that has never been approved by the FDA either alone or in combination.
The FDA has dawdled with Vascepa's marketing exclusivity decision, perhaps because the administration is trying to find a way to allow the NCE status but is trapped in wording. Vascepa's active ingredient, an ethyl ester of eicosapentaenoic acid has never been approved on its own before, but it has appeared as a component in the active ingredients of Lovaza. There are arguments to be made on both sides as to whether the status will be granted.
The reason that NCE status isn't a huge issue is that Vascepa can attain exclusivity with or without NCE. The drug would still get the three years of exclusivity that's awarded to active ingredients that have been previously approved individually but appear in the new drug. There are various regulatory ways to stretch out those three years, including a six-month pediatric extension. Patents are also in place that will provide additional protections for Vascepa up to 2030, and Amarin is in the process of applying for more in order to shield the drug from generic competitors.
The NCE status consideration and patents are all fairly standard operations for a new drug preparing for market. That's not to say investors should ignore the NCE status completely. It is important, but for another reason: the potential to sweeten a buyout deal.
Buyout potential
Amarin's CEO Joseph Zakrzewski said last year that he'd agree to a buyout if the minimum offering was $30 per share. That's three times where Amarin is trading currently, but not unreasonable considering the Vascepa's potential.
The top name floated as a buyer is AstraZeneca, a company facing a patent cliff that will cause it to lose a group of drugs that accounted for 40% of last year's revenues. The drop-off doesn't happen until 2014, and that would give AstraZeneca time to acquire Amarin and benefit from Vascepa's market buildup. New CEO Pascal Soriot is going to need to take actions to prepare for that cliff and to recover from a dismal third quarter, which featured a 15% overall sales decline.
My price predictions were based on what seemed reasonable for a penny stock as compared to the "norm". Obviously the current management team has their own agenda which is not typical in regards to promoting the company to the market.
With penny gold mining stocks the old adage, "sell the sizzle and not the steak", typically applies.
Knowing the effort that the current management team has put into making the Tarantula site a profitable and legitimate gold mining operation I'm willing to give them the benefit of the doubt and wait to see if they are successful before I sell and move on.
I still think that the current limited mining site at Tarantula is a "test site" to determine if the total claim can be expanded and operated profitably.
Still expecting a press release from the company at any time.
p.s. I noticed there's been a buy order on level 2 for several million shares at .015. Obviously someone wants to add a few more shares if the price drops.
Bought 312,000 at .084 today and sold them at .093.
Playing with a day trade.
No. I sold the other 2,700,000 at .04-.045 and bought these at .022 or less.
How else does one get a cost basis below zero?
It's similar to gambling when you're playing with the house's money. :)
Head fakes higher are good for creating false hopes and new shareholders soon to be holding at a loss.
Share price bounces less than a penny and the "pump party" is in full swing.
Unfortunately some recent buyers are still down almost 55% from the recent high.
1,000,000,000 shares is a lot of shares.
p.s. I wonder who bought today based on the Pfizer news? LOL!!!
Holding my 2,000,000 shares at least until the next press release and then I'll make a determination to buy additional shares or to sell my existing shares, or to maintain my current position.
What's another day, week, or month at this point in time.
Since he joined Reginicin I think the share price has dropped about 70%.
AMBS is down about 60% from its recent high. More downside ahead.
The next dilutive funding takes this to .03.
All imho.
Why? It appears that Reginicin only gave him 1,000,000 shares with an option for about another 880,000 shares.
Did you see his presentation at the One Med Forum?
He should have returned a good portion of whatever he was paid. His presentation was terrible.
I expected your response. I wouldn't want to know the truth either if it didn't support my position.
Dr. Rubinfeld has a track record of accepting compensation for his "advisory services".
That is a fact.
Why wouldn't he do the same with AMBS?
Free money for a few comments and an appearance or two.
I'd like that kind of "gig".
I'm thinking they sell 100,000,000 shares at .05 to raise $5,000,000 which would provide them operating capital for at least a year.
If that happens expect the share price to fall to the .03 range.
You may be on to something here.
Why don't you call Gerald and ask him if Dr. Rubinfeld was compensated by allowing him to purchase shares at a special price or direct payment?
I understand Gerald is very approachable.
I think Reginicin paid Dr. Rubinfeld 1,000,000 shares of company stock for a positive endorsement. I think he was also given an option to purchase another 880,000 shares.
Please post your findings.
No trading volume today? No one cares about this company.
Considering the company's track record I'm expecting a new C.E.O. soon.
I suspect that the current C.E.O. doesn't own cowboy boots or even a cowboy hat.
So much for "Gold Rush Arizona".
p.s. Someone just bought 45,000 shares at .019.
Aren't you looking forward to the annual report so that we might find out how much each of the company's "advisors" were compensated for their endorsements?
An earlier poster stated that the company had spent over $2,000,000 in "consulting fees" in the first nine months of 2012.
Has anyone contacted Gerald to find out how much Dr. Rubinfeld was paid for his expert opinion?
Just asking.
What time is today's dump? Millions and millions of shares now held at a loss with declining trading volume.
The smart ones have already sold and taken substantial profits. They may return after the extent of the expected dilutive financing is announced.
Should close near .07 today.
Anyone who thinks that the company authorized 1,000,000,000 shares as some type of prevention to an imagined hostile takeover isn't living in the reality of penny stock land.
p.s. Anyone here sitting in on the Pfizer meeting? LOL!!!
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How many individuals got burned on the last "pump"?
Once it breaks support at .07 the next support level is .038. Below that it's .013.
Consider taking some profits before it drops another 50%.
1,000,000,000 shares "is" a lot of shares.
GLTA
News next ______!!!! LOL!!!
Fill in the blank:
A) Week
B) Month
C) Quarter
D) Year
F) Presidential election if Hillary is elected President.
p.s. The "Mushroom Approach" is alive and well at Bonanza.
Any buys above .075 should fill tomorrow.
The trend is your friend.
p.s. .05 by the end of the week or with a dilution announcement.
Obviously the company wants control over the information flow to the market and to potential suitors.
I think the approach makes perfect sense.
I applaud them for doing so.
Let the shorts squirm a little.
The stock is substantially undervalued here.
All imho.
Buy today at .085. Sell tomorrow at .058.
A tax loss can be a good thing.
End of day dump ahead. Overdue for a 10,000,000 share dump.
Could see .05 today.
.038 by tomorrow.
p.s. Lock in some profits here.
All imho.