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My profit went from $12,000 to $1200.
Here's what I think. Chassman selling all her shares since the high and creating a panic sell-off.
On June 15, 2006, Xechem International, Inc. reached final agreement with Marjorie Chassman ("Chassman") regarding a bridge loan financing, whereby Chassman agrees to loan $1,025,000 to Xechem, in two tranches, one in the amount of $500,000 and the other in the amount of $525,000. The first tranche of $500,000 was infused on Friday, June 9, 2006. The second tranche of $525,000 is due by Friday, June 23, 2006. The note has been negotiated to convert into shares of our common stock at $0.015 per share (approximately 66,666,667 shares, excluding interest). The note bears interest at 8% and is due May 31, 2008. As additional consideration for infusion of the capital, Xechem will issue Chassman 66,666,667 warrants, exercisable at $0.02 per share for a period of 5 years. In addition, Chassman has agreed to extend the due date on all existing notes held by the Company to May 31, 2008. The loan has not been documented at this time. Upon documentation, it will be filed as an exhibit.
Over the period from June 2, 2006 through June 5, 2006, Chassman infused $200,000 into Xechem. On June 15, 2006, the parties reached final agreement as to the terms: the note will be issued to Chassman in the amount of $200,000, it will bear interest at 8% and is due May 31, 2008. The note is convertible into shares of our common stock at $0.01 per share (20,000,000 shares, excluding interest). The loan has not been documented at this time. Upon documentation, it will be filed as an exhibit.
Over the period from February 22, 2006 through May 10, 2006, Chassman infused $780,000 into Xechem, as reflected in Xechem's annual and quarterly reports. On June 15, 2006, the parties reached final agreement as to the terms:
the note will be issued to Chassman in the amount of $780,000, it will bear interest at 8% and is due May 31, 2008. The note is convertible into shares of our common stock at $0.005 per share (approximately 156,000,000 shares, excluding interest). The loan has not been documented at this time. Upon documentation, it will be filed as an exhibit.
SHAKERZZZ lost $20,000 on Wednesday on paper? I'd kill myself. I sure hope this stock goes up once my order is filled at .029.
GWIKLEY, you have me confused with another PENNY. I'm a guy, not a girl and I've never kissed BIGDADDY's azz.
When you are not rich and see 2.2 million in front of you, you take it.
BIGDADDY had 20 mil. shares. That was worth $2,200,000 @ the high of .11. Now that 20 mil. shares is worth $660,000. That is a difference of $1,540,000.
Don't you think a guy who is not rich would have sold somewhere around .10 at least to protect that money? Don't you think that guy would be pissed to miss out on $1.5 mil.?
I'm not buying into him owning 20 mil. shares. The boards are full of people saying whatever they want.
Glad I lowered my buy to .029 from .034.
Changed my buy to .029 from .034.
XKEM needs a drug to stop the bleeding!
I'm buying back in at .034. That's where I started last time.
Used to live on the delta in Oakley, CA. Nice.
Posted by: pennyplayingfool
In reply to: None Date:7/6/2006 11:27:24 AM
Post #of 24201
Hate to admit it but we're headed back to the .03's again.
B4 I go, did XKEM ever release a picture of this "plant"? Maybe it is a mud and straw hut or a bombed out old wharehouse.
That's the final straw. I'm starving and gonna go eat
Funny, when we were going up it was a "to da moon" board and all positive. Now it's a "bashers" vs. "longs" board.
Notice I didn't say bashers vs. pumpers. Hard to be a pumper here.
Gotta try a Chicago dog!
Frankfurt down 23%.
I sold at the open.
This stock's had it until a new PR.
Oops...Frankfurt.
Tanking in Franfurt, down here, when does it end? I forgot what the color green looks like.
Make that $4700 to $16800 to $6400 now.
I went from $4700 to $16800 to $6800. I gotta learn to pull the trigger!
Didn't know XKEM borrowed money from a little old lady to keep going and gave her a zillion shares.
I should have sold at .12 or did a little more DD. Got caught up in the hype.
Going back to the .03's where I bought if no REAL PR.
Could that Chassman chick been selling since .12? Or does she have to hold for a certain period?
MAD...I've been right all day long!
We won't run until a another PR is issued with some projections.
MM's aren't the problem. The company stiffed us with a PR that stated everything we already know.
Guess it's time to put this one away and forget about it for a while.
Looks like I was right. Not enough of a PR to do much. We are going to be lucky to stay green.
What time did it close in our time?
What are they thinking in Frankfurt? Down 5%:
http://finance.yahoo.com/q?s=XEM.F
PR wasn't big enough. I see us slowly going back down until a PR stating numbers comes out.
I wouldn't doubt that down the road XKEM makes an alliance with another drug company.
Is this the PR? I hoped for more:
"Xechem International, Inc.'s (OTCBB: XKEM) subsidiary, Xechem Pharmaceuticals Nigeria, just announced the successful launch of its new Sickle Cell drug, NICOSAN(TM), at a ceremony held on July 6th at Xechem Park, SHESTCO Complex, Abuja, Nigeria. The launching ceremony that was presided over by Nigeria's President, Chief Olusegun Obasanjo, was broadcasted live throughout Nigeria. Days earlier, the drug was approved by Nigeria's drug and regulatory authority, the National Agency for Food and Drug Administration and Control (NAFDAC).
Xechem has obtained the exclusive worldwide rights to manufacture, market and sell NICOSAN(TM) under a licensing agreement with Nigeria's National Institute for Pharmaceutical Research and Development (NIPRD), a federal governmental agency whose scientists are credited with developing the drug."
Where's that PR, guys?
I hope they checked for PR errors and release it Tuesday. I need an "up day". I've had it with seeing red.
I'm gonna be watching to see if BRIK's PR comes out tomorrow. After all, he called twice, right?
Looks like I was right on the money this morning. Typical penny stock action.
I think the fact that XKEM had its launch without a company PR stating how it went hurt us. We need a PR.