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"You're certainly one to talk...."
I'm not sure what your point is. While I am indeed moderator of the Natural Nano iHub message board, and I am universally acknowledged as doing a stand-up job in that important role, I'm not a great supporter of that stock, and certainly have never expressed any optimism about its prospects.
How could I? It was set up by the same crowd as Biophan, has common ownership and indeed common directors - Biophan's well-paid but under-performing CEO John Lanzafame is also a Director of NNAN- and is supported by the same somewhat excitable crew as support Biophan, for no sensible reason that I can determine (unless they have some undeclared motive for their advocacy of these two extremely disappointing companies).
"At least Biophan looks poised to recover from its bottom...lol."
Frankly I doubt either Biophan or Natural Nano will do any such thing, apart from the periodic pump-n-dumps which get smaller and less durable as time goes on.
Why would you think BIPH would recover given that it proposed to MegaDilute by over 200% and no longer even publishes its target date for Myotech CSS approval?
"Goldengoph, we may have to wait a little for the kaboom. It is only a matter of time and I believe a short time. Just my opinion."
And it's just my opinion that the only kaboom, apart from the odd manufactured mini-pump 'n dump, will be the sound of Biophan imploding as it sinks into bankruptcy once its "management", owners (such as TI, Biomed and other Weiner-associated vehicles)and other known associates have stripped all the cash and other assets worth having from the poor shareholders who've been gulled into holding these shares, and even into voting into allowing the "management" to issue another 550 million shares.
That's just my opinion, but at least my opinion has the merit of being underpinned by both the pps and the previous track record of BIPH's well-paid but underperforming "management".
Unlike the opinions of the "Biophan will make us all rich dead soon" school of thought, which seems to be underpinned by nothing more than wild optimism coupled with an inability to learn from experience.
Or maybe in the immortal words of Upton Sinclair:
"It is very difficult to get someone to believe something when his salary depends on his not believing it"
Whatever.
But, look! Here's some good news:
"Biophan Announces Acceleration of Commercialization of MYO-VAD™ Cardiac Assist Device
December 08, 200x 07:14 AM US Eastern Timezone
Company details plans for utilization of funds to be invested in MYOTECH under acquisition agreement.
ROCHESTER, N.Y.--(BUSINESS WIRE)--Dec. 8, 2005--Biophan Technologies, Inc. (OTCBB: BIPH; FWB: BTN), a developer of next-generation biomedical technology, today announced the acceleration of the commercialization program of the MYO-VAD following the recently announced agreement for its acquisition and investment in MYOTECH, LLC.
MYOTECH will ...... step up the development of the first generation MYO-VAD, a device designed to quickly restore cardiac output in patients suffering from many forms of heart failure."
Sad thing is, this "good news" is from 2005. And the Myotech CSS device? Still at least two years away from commercialization, just as it ever was. Not even in human studies yet, in fact. Or discussed with FDA.
Kaboom, indeed.
New all time low today.
Even though as moderator of this fine message board, I should dearly love to be relaying positive news about the subject of discussion here, Natural Nano Inc, it is with no surprise but with a certain sadness that I report that the stock has hit a new all-time low today of just one cent.
Additionally, with the impending MegaDilution and accompanying reverse split that Natural Nano's crack management team have announced (and approved, all by themselves) I have to report that I think it unlikely the situation will improve any in the near term future.
Or at all, in fact.
All of which leads me to wonder if the adherents of this, er, remarkable stock have always been entirely honest with us. I refer, of course, to previous moderators of this very message board and the one man NNAN fan club over at the IV MB for Natural Nano.
Do they just have it completely wrong, or is there a more sinister motivation behind their constant attempts to recruit folk to the long-suffering ranks of the NNAN shareholder and consequently to wreak financial havoc on anyone unfortunate enought to fall for their sophistry?
I think we should be told.
"If anyone believes in BIPH and is upset about the dilution, then buy more shares, cost averging down. That is, of course, if you want to put more money into the stock. At 1.5 cents or less, I'm sure someone could add enough shares to cost average down and take a nice position for the future."
If past form is anything to go by, then there are a number of Biophan "longs" who would be delighted to sell you some of their shares. Just don't expect them to acknowledge their philanthropy publically - in the past when they've sold their shares (also known as "rotating out of their core holdings") they've continued to encourage others to buy.
Kinda selfless guys that are typical of the BIPH long, I guess.
"Trying to figure another way to turn things around will increase the cash burn, as well as encourage more financing, spiraling BIPH into near certain death. This type of strategy is more risky than dilution."
Orwell's Winston Smith would be familiar with this logic:
"WAR IS PEACE"
"FREEDOM IS SLAVERY"
"IGNORANCE IS STRENGTH"
"NON-DILUTION IS WORSE THAN MEGADILUTION"
Truth is, Biophan doesn't need any extra shares to out-license the Myotech CSS device, and nobody looking to acquire rights to that technology wants Biophan shares. They just want a financially stable partner they can trust.
Partners that have the potential to issue nearly three times their entire float overnight to whatever toxic finance crew offers them enough money to pay salaries for another two or three years don't really fall into that category, I'm afraid.
As for Biophan needing the shares to "pay" for another acquisition, frankly that shouldn't be considered in their business model (if they actually have one). They need to demonstrate they can deliver on the technology to which they already own rights.
What Biophan needs to do is formulate a plan for developing the Myotech CSS device via human studies, discuss it with FDA, communicate to shareholders with timed milestones, and just "get her done".
It's not rocket science and it doesn't require MegaDilution.
Just honest capable management.
Question is, does Biophan have that, or is it going to continue impoverishing shareholders while enriching its "management" and their known associates, encouraged by some posters with frankly incomprehensible private agendas?
Good news for Biophan shareholders:
When it comes to deals in the biopharmaceutical/medical device space, there are only three things that really matter for a potential partner looking to in-license a product or technology.
These are:
1) Is the technology likely to work, and if so is there a profitable market for it?
2) How much will I have to pay, and how can I “de-risk” it by minimising up-front payments, and weighing more to down-stream payments?
3) Is my partner stable, and can I protect my investment if they go to the wall, or are not able to afford to develop the technology?
One of the last things I want as a potential partner is shares in the company licensing the product to me. This is because they are an inconvenience from an accounting point of view – they have to be valued and accounted for on the balance sheet each quarter for a public company – and besides, I’m not supposed to be a portfolio manager.
Therefore there is absolutely no necessity for Biophan to issue extra shares in order to make it easier to out-license the Myotech CSS technology. In fact, by diluting the number of shares outstanding and weakening the strength of the company, they make Biophan less attractive as a partner –see 3) above.
The only currency that matters in the Bio Business Development world is the mighty greenback. Biophan wants them, and any potential partner knows they have to pay them for access to any worthwhile product/technology. End of story.
Feel free, therefore, to abstain in the proxy vote where Biophan are spending $50,000 of your money asking turkeys to vote for Thanksgiving. If anything refusing to issue more shares will enhance the chances of finding a partner for Myotech CSS.
What would enhance the chances even further, and increase the value of the deal, is if Biophan were to conduct, or start to conduct, studies in humans with Myotech CSS. This would enhance the value of the asset, and (if successful, of course) help with the “de-risking” that any partner seeks.
No, to grant Biophan’s “management” the ability to issue another 550 million common shares is like giving an alcoholic a bottomless bottle of whiskey.
What Biophan needs is some tough love.
Just say no to MegaDilution and to rewards for failure, and demand performance against reasonable targets. It’s in their own interests, and it’s certainly in the interests of you as shareholders.
As for those who seek to enable the dependency and addiction of Biophan’s management to MegaDilution and toxic finance, as with those who facilitate the destructive behavior of an alcoholic, you have to question their motives.
I wonder what’s in it for them?
Why would they seek to harm the shareholders by encouraging destructive behaviour like MegaDilution when it’s entirely unnecessary?
"you know the company was prohibited by the collateralization agreement to buy out the Iroquois folks with Medtronic proceeds...yet you intentionally mislead...who do you represent and why?."
Leaving aside the insults, whose money was eventually used to pay off the "Iroquois folks"?
Was it or was it not the Medtronic money?
Rhetorical question.
It was the Medtronic money, of course. It just took a lot longer, and many millions of shares of dilution before it was employed to help the shareholders rather than be used to enrich Myotech and TI's private owners.
Have you no shame in implying otherwise?
I don't represent anybody in the sense you intend. For you to be unable to understand that leads me to ask if you are employed by someone for your relentlessly optimistic outlook on BIPH?
Bonnie resigned, eh? Better start thinking of the angle whereby that becomes good news. Cost savings, maybe?
"We already know that BIPH has to add shares to keep their company."
Why do they have to add shares?
Less than two years ago they pulled in $11 million by selling much of their IP portfolio to Medtronic. If they'd used that money then to pay off the "sewer rats", they'd have a float of less than 100 million shares, they could have easily started human studies on the Myotech CSS device, and they could have found a deep-pocketed partner to bank roll the final studies before registration if the $11 million hadn't been enough.
Instead of which, the cupboard is presumably bare (although they still had $6 million at the last 10 Q), the float is 250 million, the shares have plummeted in price, and the Myotech CSS device still hasn't entered controlled studies in humans in either the US or Europe.
Shareholders have gotten much poorer. Mr. Weiner, Mr. Lanzafame and their "sewer rat" buddies have gotten much richer.
I don't think it's unreasonable to suggest that there's something wrong with this picture, or to suggest that giving these guys an extra 550 million shares to play with isn't the greatest idea given their track records.
But that's just me - but I will keep saying it. Dang that wrteched First Amendment, eh?
"Sunspotter...
Your intent is to rabble rouse, confuse and obfuscate while stirring the flames of mistrust and ill will."
No, it isn't. My intent is partly to raise legitimate questions about the governance of this company, which I consider suspect, and to question the motives of some of its most ardent supporters. My other intentions are to encourage whistle-blowers to email me (and thanks to those of you that have), and to enjoy my forensic stock examination hobby.
"Posting as Voldemort your incessant venom and prestidigitation of facts and figures contributed to the ruination of five years of rapport and trust built upon 120,000 plus posts on Raging Bull...you hounded and harassed Terry Hallinan on RB until he moved to an obscure board on Investor Village."
My posts were not venomous but they were direct and to the point. Unlike the posts of the other party you mention, who has stalked me ever since he took objection to my exposing the management of Viragen Inc as incompetent at best and crooks at worst, he has followed me around and told mistruths consistently. And, in common with all the other posters who have shown his confabulations and misrepresentations for what they are (erniewerner, Technicium and vinmantoo among many others)he has gone on to libel me, calling me a racist and worse without any evidence. Any comments I have made about the poster you reference have been supported by links and facts.
In any case I had no idea he was so sensitive. Given that 50% of his posts consist of nothing other than vitriol and abuse (the other 50% are groundless hype) I'm surprised he's not a little more robust.
Of course, the fact that he has been banned from RB, Yahoo and iHub may have more to do with his absence than my presence does.
"No doubt your agency agreement precludes any admission of complicity."
Don't have an agency, and I'm rather tired that you insist on repeating that libel when you know it to be untrue. In any event, being complicit in telling the truth was never a hanging offense where I come from.
If you and others such as tetrahedron find my questioning of Biophan's corporate governance and my posts so offensive, may I politely suggest you employ the "Ignore this Poster" option you will find if you click on my alias.
The good news is you can do the same thing on the RB, Yahoo! and IV MBs.
One click, and -hey presto!- it's as if I was never there.
Best regards,
sunspotter/voldemort.2001
""Ironically, the way Biophan's "management" have rigged this vote, a vote against the dilution only makes it more likely to happen by creating the necessary number of total votes cast." now that is interesting. could you
clarify?"
Bless your heart, palacian, happy to help.
The original proxy statement had the following information about the quorum:
"only proposal to be voted on at this Special Meeting that is a non-routine matter is the proposal to amend the Articles of Incorporation of the Company to increase the authorized number of shares of Common Stock to 800,000,000 shares. Thus, if you do not otherwise instruct your broker, the broker may turn in a proxy card expressly instructing that the broker is NOT voting on this non-routine matter. Broker non-votes are counted for the purpose of determining the presence or absence of a quorum but are not counted for determining the number of votes cast for or against a proposal."
Why is the quroum important? Because unless there's a quorum, then even though the vote is in favour of the MegaDilution (logically enough, given that many shares are held by the beneficiaries of BIPH's past toxic dilution)they can't go ahead and issue all those extra shares.
But even if you vote against, your votes go to swell the quorum, and once the quorum is large enough, they get the right to issue the extra shares.
The subsequent 10Q also refers to this:
"At a special shareholder’s meeting held on September 12, 2008, shareholders were asked to approve a proposal to amend the Company’s Articles of Incorporation to increase the number of authorized shares of common stock to 800,000,000. This proposal was adjourned until December 1, 2008 (subject for further adjournment by those attending the reconvened meeting) or such earlier date as the Company obtains sufficient votes to approve this proposal."
Interestingly, on the Yahoo! MB for BIPH, some posters have said that the telesales people have said they'll record their votes for them, even though they sold their shares long ago.
Seems pretty desperate to me, but then I guess BIPH are pretty desperate.
PS Is it only me who thinks it's pretty rich of BIPH's "management" to spend $50,000 of the shareholders' funds persuading turkeys to vote for Thanksgiving?
"Employees and agents of Morrow & Co., Inc. will solicit proxies, and will request beneficial owners of our Common Stock to instruct their banks, brokers, and other custodians, nominees and fiduciaries to deliver proxies, using the mail, telephone and other means of electronic communication. The fees and out-of-pocket expenses of Morrow & Co., Inc. are estimated to be approximately $50,000 and will be borne by the Company."
"The Company" - I think you'll find that's the shareholders. Who knows, maybe the payment will be in the form of some of those 550 million extra shares that they hope you'll authorize. That would probably classify as paying for results in BIPH-land.
"i enjoyed the read and strongly agreed with and endorse this line of reasoning:
"And, yes, it would be nice if BIPH gave some guidance. But they are tight-lipped. For numerous reasons, of course."
for very logical reasons imo."
I agree the reasons for the radio silence are indeed likely to be logical.
It could be that if they gave guidance about when the Mytoech CSS device would actually enter clinical trials (if at all), then everybody would wonder what the hold up was this time, and why they wanted to expand the float to 800 million shares (and were prepared to spend $50,000 through a telemarketing company to get the quorum) given that commercialization wasn't going to be until 2010 earliest.
Or it could be that they have no guidance to give other than that they're going to use those 550 million new shares to reward their "management" and their various known associates in BioMed and TI.
The one thing that isn't logical is that they would sit on good news, or even just a coherent strategy to look after long term shareholders' interests and not release it. The one thing that could save this company is a realistic transparent communication showing an action plan with timed and costed milestones.
The fact that they won't do that simple thing could only be construed as good news by the most avid consumers of Biophan-brand Kool-Aid.
To vote either way on the expanded share float is to ensure that it gets issued, BTW. They already have the majority, now they need the quorum. If you want to stop the proposed MegaDilution, don't vote your shares at all.
Ironically, the way Biophan's "management" have rigged this vote, a vote against the dilution only makes it more likely to happen by creating the necessary number of total votes cast.
Exercise your democratic right by not enabling these chaps to render your Biophan shareholding even less valuable.
Green Energy Resources (GRGR)is a scam, pure and simple, and Joe is a crook, pure and simple.
If the PRs don't give it away (and they do) the criminal nature of those he employed to hype his mythical business for him does.
Of course, if Joe should take exception to my words, which would be libellous if not true, he's welcome to send a subpoena to voldemort.2001@yahoo.com, where I promise it would get my full attention.
But I'm not holding my breath.
Now that's what I call toxic:
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0000863895-08-000058
"CPA Klaus E.T. Siebert hopefully is looking after the interest of us minority shareholders."
You minority shareholders no longer have an interest in this company, if indeed you ever did:
"The Notes are secured on a pari-passu basis with the Company’s existing indebtedness to the Lenders (the “Existing Debt”) and (i) senior to all other current and future indebtedness of the Company, (ii) secured by all of the assets of the Company and each of its subsidiaries and (iii) unconditionally guaranteed by all subsidiaries of the Company."
I'm surprised that any CPA doesn't recognize his or her fiduciary duty to recommend winding up a company when it becomes clear that it will never become profitable and that it is already technically bankrupt.
The end result of such negligence (to interpret it charitably) is that minority shareholders such as yourself will inevitably lose your entire investment.
While NNAN's Officers can scarcely seek to protect themselves in the way that their lenders, Platinum Advisers LLC, have sought to do:
"4.4. Waiver of Right to Trial by Jury. BORROWERS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE AND WAIVE ANY RIGHT TO BRING A COUNTERCLAIM AGAINST THE HOLDER IN ANY ACTION TO ENFORCE THIS NOTE. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR HOLDER TO ACCEPT THIS NOTE."
I doubt there'll be much in the way of assets left to disgorge once Platinum, TI and all the rest have had their share.
Shame really, but no one can say they weren't warned.
BTW, as usual any private email concerning NNAN governance gratefully received at voldemort.2001@yahoo.com. Thanks particularly to my chum on the West Coast.
Klonopin today:
"i'm not at all concerned, i was hopeful they would get approval to increase for needed shares as they will definately need the shares. i expected this further down the road, but am actually very happy they are pushing to get this done......just thinking ahead"
Klonopin on 9/24:
"Posted by: Klonopin2mg2000
Date: Wednesday, September 24, 2008 9:17:40 AM
In reply to: Zoro who wrote msg# 3351
Post #3354 of 4394
hiyah zoro5304,
take a look at the chart as well, this ones due for a big bounce even w/o this huge news. eliminating this financing means NO DILUTION...[my emphasis]
this one will move up for a good while, pick a few up while you can. news"
Nice thing about the Internet is that folk leave a trace behind them.
Wonder why people have to keep changing their story to fit what suits them on the day, even when they've said the opposite in the past?
"OK Spot, perhaps we can get it right together."
Fair point.
My figure of 357% was right when compared to the float when the proposal to authorize 800 million shares was first made.
As you point out, the float at 10/10 was actually 243 million, which makes the dilution versus that number 229%.
However, for the prior quarter, the equivalent figure was 174 million.
In other words in the space of three months Biophan diluted their shareholders by 40%. That's an annualized rate of 174% (and before someone says , no, it's 160%, do the math properly).
And they didn't move the development plans for Myotech forward by one inch during that time, as far as one can glean from their somewhat minimal last 10 Q.
Why would anybody trust them to do better with the next 555 million shares than they have with all the previous dilutions they've issued?
Let's fact it, the only people who've made money on Biophan are a collection of Officers past and present, their "sewer rat" buddies, a selction of paid touts and pumpers and a few day traders with an exquisite sense of timing (and good luck to them as long as they tell the truth).
The one group who have lost, and lost big time, are the group that people are constantly being invited to join by the Biophan adherents on this MB, that of the long-term holders of Biophan's increasingly worthless shares.
And I think there's something wrong with that.
Personally I don't think it's unreasonable to ask Biophan's management to share their undoubted wealth with its long-holding and long-suffering shareholders.
Michael Weiner bought both a new mansion and a new yacht with what was originally your money.
John Lanzafame has a large six figure salary and a six figure bonus courtesy of you guys. And what, you should ask yourselves, has he ever done to deserve either of those things?
After all, you were once the owners of this company before they mismanaged it and marginalized you all via toxic financing, preferred shares and constant dilution.
I thought Capitalism was about rewarding and encouraging success, not about incentivizing people who redistributed your wealth to their personal pocketbooks while leaving you high and dry?
"a 550mm share increase in Authorized is a 220% increase not 357%"
What I referred to was proposed dilution of 357%. Let me show you how that works:
The current float of Biophan shares is 175 million shares (actually 174,871,171 weighted, but let's talk round numbers here).
The proposed "Authorized" is 800 million shares.
800/175 = 4.57 or 457%.
Subtract 100% for the original shares that are not part of the increase, and you will perhaps now be able to understand that the number of shares that Biophan are asking shareholders for represents dilution of 357% versus the current float.
Let me know if you don't get that and need further explanation.
"If you gotta be wrong you could at least get it right. Right?"
Yeah, like I said before, if you're going to be wrong, try not to be LOUD wrong or abusive wrong. Right?
Interesting that you should (incorrectly) upbraid me on my math while ignoring the fact that MBD, Ogclip, palacian, Ogclip and cyberbubba, among others, were just plain wrong when they said that the 800 million authorized share request would be abandoned.
Go figure, eh?
I've got literally dozens more posts like this from the usual suspects new and old:
"Posted by: makingbiigdough
Date: Wednesday, September 24, 2008 10:16:38 AM
In reply to: Tommy_Buckeye who wrote msg# 3372
Post # of 4394
Tommy there will be NO MORE ADDITIONAL SHARES!!! Also imp to NOTE. Sewer Rats started selling their 17MM shares on Monday! Don't be fooled probably less than 10MM left to dispose of at today's open. Also for ALL NEWBIES first matter to address is to put SUNSPOTTER on IGNORE!
You will find the board a more pleasant place to get informed info! Also to answer Ogclips post. YES MOST SHARES HERE ARE IN LONGS HANDS!!!! Which i am pround to be one of. Good Luck to ALL newbies here! This NEWS is LONG AWAITED!!! Once again GREAT JOB John/management! See ya in the .30's+ levels REAL SOON imo! No more posts from me, good luck to all! MBD"
Makes you wonder, really. Why would anyone encourage anyone to put the one contrarian view available on this message board on Ignore? You might disagree with me, but why would someone want you not to read my posts at all, and not to be able to make your own minds up knowing that there are at least two points of view?
Especially when on the matter of the full dilution to 800 million shares, as in just about everything else, I turned out to be right.
Seems odd, really. Or is that just me?
357% MegaDilution.
Remember how many of you told me I was wrong, and now that they had new sewer rat buddies, they wouldn't be going for the full 800 million shares?
Turns out you were wrong, and I was right.
Which is fine, because it's been consistently that way for the past three years.
It's just that if I were you, I'd be a bit less shrill about it. It's one thing to be wrong, or to disagree.
It's quite another to be so LOUD wrong, or to be so abusive at the same time as being wrong. Makes some of you look disingenuous or foolish, really.
Anyway, given that they've previously raised many millions of dollars under the pretext of developing the Myotech CSS device for the past several years, but Biophan have yet to announce any kind of concrete clinical study plan, or even to discuss plans with FDA, I think you'd be kinda foolish to allow them to let them dilute your shareholding even further.
After all, they should have at least $3 million of that Medtronic money left - should keep them going for a while, surely?
Unless of course, they've given that money to the private owners of Myotech? You know, those nice folks at Biomed and all the others.
Let's hope that whoever wins today makes sure the SEC is given the resources to deal with particularly egregious penny stock fraud schemes and those who promote them.
wshaw14, I suggest you read my post again. I commented that the $300,000 odd that Dr. M walked away with is a large percentage of Biophan's ready cash.
That's completely true, as is everything else I've written about Biophan.
The innuendos only come from one side in this debate.
Palacian et al, I knpow who the co-inventors of the Myotech CSS device are, back in the mists of time. What makes you so sure that they are one and the same as the owners of Myotech? I think you'll find, if you do some DD for once, that there are other parties who also own Myotech.
Sorry for all yourt losses, but it's your own responsibility, not mine. Try to keep it civil.
TIA.
"Significant expense reduction here......
FINAL COMPENSATION $ 327,600.00"
Actually I'd say Dr. MacDonald has done rather well.
He's just walked off with more than 10% of the cash that Biophan had on its books before it distributed a rather large chunk of it to the mysterious private owners of Biophan (if you can read, Dr. Tet, perhaps you can tell us what the agreement calls for in the event of dissolution?).
The alternative would be to hang around and wait for BIPH to file for bankruptcy, in which case he'd have got nothing.
It's standard practise for end-stage companies that have almost done siphoning off shareholders' assets into private hands to mop up the last few dollars by deploying golden parachutes.
Expect to see some more creative siphoning in the next few days.
BTW, I've never owned Biophan, never been short on it, and never told a lie about it. I just study stocks like Biophan, Viragen, Aptheon, Intrepid Energy, Natural Nano, FASC, Atlas Mining and all the rest.
"Why would anyone be selling way down here...looks supcicious!"
Because they realize that Biophan has just disbursed the two or three million bucks they had left on the balnace sheet to the mysterious private owners of Myotech, perhaps?
Or because they realize that Biophan has no intention of developing the Myotech CSS device and commercializing it at all?
Or because after four years of holding form over $3 to one cent they've finally realized the truth and capitulated?
Or maybe they view Biophan's new day-trader fan club as a contrarian indicator, especially realizing that however much these chaps say they like Biophan they're not actually buying in any quantity?
Perhaps they think that the aforesaid daytraders who all allegedly backed up the truck between 1.5 and 2 cents are going to dump just as soon as they show a profit, if such a happy day should ever come?
Who can tell?
All as I know is there are plenty of good reasons as to:
"Why would anyone be selling way down here".
"Actually, I consider this a very bullish development."
I hope you won't hold it against me if I point out to anyone who is tempted to share your optimism that you also hold shares in Biophan and Natural Nano, and that at one time you presumably must also have been bullish about those two stocks also.
Just tell me you didn't "invest" in FASC also, please.
A more "bullish development" would be if ALMI were to publish their long-awaited assessment of whether or not Dragon Mine (and indeed the other mines they own) actually contain any mineral resources, or in fact Jake was not just a financial fraudster but also made up everything else.
That particular geological assessment has been a long time in the making, and I can't think of many positive reasons why that should be.
"your calculations would be called the "per share value of cash on hand" which of course has very little to do with the intrinsic value of the company"
In the case of most companies I would agree with you. However in the case of Biophan, just about all of the non-cash value resides in the Myotech CSS device, which has yet to have a development program outlined.
Indeed Biophan have never had any discussion with FDA about this device in spite of literally years of promises that commercialization was 18-24 months away. It never was, of course, in the same way that tomorrow never comes.
Now Biophan have stopped pretending that Myotech CSS will be available in any time frame. That would worry me if I were a Biophan shareholder.
"I see no personal reward from being in a position to say "I told you so""
Neither do I, but if during my pastime of investigating likely stocks for collapse due to (ahem) maladministration, then I'm not cold-hearted enough to leave innocent bystanders to the mercy of those who would tell them it's raining while they urinate in their ear.
But that's just me, as I've said before. And I do find I get useful tips from investors by posting on boards like these. For example via private email I have been sent from sources which would surprise some readers here, a fairly extensive record of regulation FD-busting emails from one Michael Weiner.
voldemort2001
Looks like the momentum you chaps are trying to generate here is still going the wrong way:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32927615
With another 600 million or so Biophan shares on the way (according to BIPH's own very latest 10Q even if denied by Biophan's new but ardent admirers), and the removal of any indicative date for Myotech CSS commercialization, I can't say I'm surprised.
FTAO b9molecule,
As I've said before, I won't complain about posts that insult me if they have some redeeming content. The post I'm replying to doesn't, and indeed is factually entirely inaccurate:
"He is a paid/tireless hedgefund flunkie living in Germany!"
FWIW, I'm not an employee of a hedge fund or any other financial institution, I have no interest in Biophan of any sort, short or long, and I rather object to being called a flunkie.
Groundless optimism is a legitimate if wholly unsuccessful investment strategy. I doubt it should be passed off as the work of an investment oracle, however, especially as my predictions on BIPH are literally infinitely more accurate than MBDs.
TIA.
"Insiders would not be buying for the first time if they intend to dilute like you imagine."
It is so obvious what is going on here.I don't "imagine" they intend to dilute, I know it because they've said so.
They announce it themselves quite clearly in this document, which was issued after the discharge of their Iroquois toxic debt.
I don't see how the 10Q allows any other interpretation- perhaps you could show me where in the document it says otherwise?
Sambeaux is of course correct.
Anybody looking at a potential supplier will want to know that they are sufficiently financially stable to be able to stay in business in the medium to long term, in order to provide any after sales support required or to purchase new equipment, consistent with existing equipment.
You also want to know they're not going to fold when you've paid them for services or equipment that hasn't yet been delivered.
Companies that are dependent on diltuion to survive and who compensate their suppliers with increasingly worthless shares don't come up on the various screens as good credit risks. There's a whole service industry that performs such checks on potential suppliers or partners, and you can be reasonably sure that FASC doesn't warrant a triple A credit rating, and part of the reason for that is indeed the poor market capitalization, reflected in turn by the stock being priced at pennies.
"CFM and Accum/Dist. tells it all."
I rather doubt it, particularly on a penny stock which tends to be even more immune from the (alleged) predictive powers of TA than a regular stock.
I'd have thought given you and your day-trading colleagues previous track record of 100% failure in predicting not only the magnitude but even the direction of the pps of Biophan, you might want to be a little less categorical in your forward-looking statements.
Other reasons you might want to be a little cautious include three very salient facts from the last 10Q.
The first is a little like the Sherlock Holmes mystery of the dog that didn't bark in the night. For the first time since the acquisition of the Myotech CSS project, the 10Q didn't put forward a time scale for the commercialization of this device.
Now given that every time in the past the date they've given has been wrong (in that it's been too optimistic)you might understand this, but at least it was a yardstick against which they could be measured (and found wanting).
The absence of such an indication would worry me considerably if I were a Biophan shareholder.
Secondly, the 10Q gives no suggestion whatsoever that they will cancel the planned MegaDilution to 800 million shares. In fact it explicitly states that they intend to continuie soliciting a sufficiently large majority to allow that to happen. A number of our new day-trading friends have said that they believe this dilution would be cancelled. Are they concerned that it is still Biophan's stated intention to dilute by 357%?
Thirdly, I was intrigued by the full scale of the dilution that has occurred over recent months. Judging from the weighted average figure at the end of August, I suspect there are probably 200 million shares out there already.
Finally, it was no surprise to have confirmation of what I beleived ever since I started studying Biophan's filings a few years ago:
"As a result of the material weaknesses described above, our management concluded that as of February 29, 2008, we did not maintain effective internal control over financial reporting"
In other words, all of Biophan's previous filings were wrong. While this does not come as a shock to me, again if I were a shareholder I'd be upset to have been so egregiously misled.
And if I were a litigious shareholder, I'd be looking to punish those people who were responsible for misleading me, both within and outside of the company, including their paid agents and "consultants" on message boards such as these.
So I take it you're a Biophan holder too, with a NDP like that?
No doubt you own NNAN, too.
Are you beginning to see a pattern in what happens with your stocks at all?
The fact that the "managements" of your companies, plus their toxic finance friends are making out like bandits, whereas you have lost most of your original "investments" may give you a clue as to what that pattern might be.
Sunspotter (aka voldemort.2001)
No problem. At least it was on topic!
"not long before the .03s & .04s will be history...
not pumping...that's an honest opinion only.."
As it happens, I agree with you.
Within a year, whether or not there's a reverse split (and I strongly suspect there will be)anybody long on Biophan will look back with nostalgic longing to those heady days when the Biophan pps was as high as 3 or 4 cents, back in June 2008.
The reason I believe that?
The proposal to MegaDilute to 800 million shares is on the table, BIPH's new "business model" gives them the perfect excuse not to develop Myotech CSS themselves (not that they ever showed any signs of being serious about that anyway), and the remaining cash on the balance sheet is being siphoned off little by little to private vehicles such as BioMed, Myotech and TI, behind each of which lurks the toxic figure of Michael Weiner.
If you're still here in a year, let's check back and see who's right.
In the meantime, as you're "not pumping", perhaps you'd honor us by giving us the thinking behind your "honest opinion", beyond the vague feeling you've already expressed that things are moving in the right direction. TIA.
Naughty Dr. Fritsche!
Doesn't he know that he must declare a conflict of interest when he makes a nice bankable quote on HDC's PRs?
So when he says:
"The excellent results seen in Phase I, Phase II, and Phase III double-blinded clinical trials validate the scientific accuracy and robustness of the HDC gene-based molecular diagnostic test for prostate cancer,' stated Dr. Herbert Fritsche, Professor of Laboratory Medicine and Chief of the Clinical Chemistry Section at The University of Texas, M.D. Anderson Cancer Center in Houston, Texas. ``Physicians that are diagnosing and treating prostate cancer patients will be greatly assisted by the additional information that this new prostate cancer test will add to their decision making process."
He should add:
"I must declare a conflict of interest. I am both a member of HDC's Scientific Board
(Mission: "The Scientific Team works very closely with HDVY management to accomplish the goals set forth" - You betcha!)
and a major shareholder. My remarks need to be interpreted in that context."
I wonder if Senator Grassley or the appropriate folk at M. D. Anderson know how is using his position to further his personal interests?
Seems lots of folks connected with HDC don't understand conflicts of interest.
PS Some one should tell HDC's PR firm about the difeerence between possessive "its" and abbreviated "it's".
"it's Phase III" indeed. Schoolboy howler.
Announcement from the moderator:
As your new moderator, I can promise you an efficient board where the trains will run on time.
But remember, please: posts on topic, and backed by data and arguments.
Thanks in advance.
It's kind of eerily quiet on this MB after all the hoopla of the past days.
As I said before, I hope all that rah rah posting with pom poms didn't cost Biophan too much - after all, they really should be spending that money on the development of the Myotech CSS device, shouldn't they?
Any bets on whether or not they're going to cancel the MegaDilution to 800 million shares?
Kinda thought they might have said something about that by now, as I suspect it has a sugnificant bearing on the sentiment towards this company, and towards the value of its stock.
Still, if you think the true raison d'etre for this outfit is not to generate wealth for its shareholders, but rather to provide a vehicle to transfer private retail shareholders' money to private companies, you'd want the flexibility that 357% MegaDilution could provide.
After all, the funds that will doubless be transferred to Myotech's mysterious private owners and to BioMed need to be sourced from somewhere.
"If there are 115 machines sold at around $300,000 or so a machine
That would be very good news for shareholders imho :)"
And if there are no machines sold at any price, that would be pretty much the news shareholders have received for the past several years - promises of great things to come with a consistent failure to deliver anything that actually generates sustained value ;-0
While I can see why you might harbor the belief that all of Natural Nano's filings are a work of fiction, in this particular instance the contents of the filing will allow NNAN's "management", their toxic financiers and their associated arbitrageurs to milk the long-suffering shareholders for a few million more dollars.
Given this has been the modus operandum of all of Michael Weiner's public company set-ups (syphoning off private retail shareholders' money to his pockets and to the pockets of his known associates) I think we can accept this filing as being a true reflection of reality for once:
http://app.quotemedia.com/quotetools/showFiling.go?name=NATURALNANO%20,%20INC.:%20PRE%2014C,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D12%26ipage%3D5895318%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=on&type=HTML
In general, however, I would share your reluctance to believe anything Natural Nano publishes or says.
"Ogclip © Date: Monday, September 29, 2008 8:43:15 AM
In reply to: None Post # of 4038
Morning guys.. Lets rock this week."
How'd all that rocking go this week? I seem to remember many predictions of great pps appreciation for this week by just about all of our new daytrading buddies.
Still, it did distract from any meaningful discussion of the real issues around Biophan, which I guess was the main point of the whole exercise.
Hope it didn't cost too much - really Bophan should be spending that money on developing the Myotech CSS.
How scary is this??
"INFORMATION STATEMENT
ACTION BY THE CONSENT OF STOCKHOLDERS WITHOUT A MEETING
This information statement is furnished to all holders of Common Stock of the Company as of September 12, 2008, in connection with the proposed actions to be taken by the Company without a meeting pursuant to the written consent of the holder of a majority of the voting power of the Company:
1.
The amendment and restatement of the Articles of Incorporation to increase the number of authorized shares of the Company’s common stock, par $0.001 per share, from 300,000,000 shares to 5,000,000,000 shares.
2.
The amendment and restatement of the Articles of Incorporation to give the board of directors the power and authority, without a shareholder vote, to approve and implement forward and reverse splits of our common stock upon approval of a majority of the directors.
3.
The approval of the NaturalNano, Inc. 2008 Incentive Stock Plan (the “2008 Plan”) and the reservation of 800 million shares of the Company’s common stock for issuance under the 2008"
I make that proposed dilution by a factor of 16.7, or 1666%.
That's pretty impressive MegaDilution, even by the standards of one of Michael Weiner's personal wealth creating machines.
And the reverse split - always a winner.
A winner that is for the toxic financiers and arbitrageurs who seem to happily co-exist with the "management" of such companies, as they short the newly priced shares back to the level they were at before the R/S.
It really is about time the SEC did something about NNAN, BIPH and the other scams surrounding them.
For those of you untutored in daytrader lingo, a brief translation of the foregoing posts:
"We need this to go up, because we've bought at several stages between .009 cents and .019 cents. We thought that by appearing here en masse - or at least with lots of different IDs - we could generate some momo, convince a few long term BIPH holders that there was still hope, and get a suckers' rally underway (let's face it we know these folk are gullible otherwise they wouldn't be here in the first place).
However our confident predictions have proven (as is usually the case with such things) to be completely wrong.
Rather than admit we don't really have a clue what we're talikng about, however, we're going to bluff our way through this by talk of large buyers, insiders holding the price down intentionally, secret accumulation, market makers' manipulation and all the rest of the day-trading pseudo-technical jargon, in the hope we can finally get that suckers' rally on the go."
Unfortunately the facts rather militate against the pump and dump they're trying to generate.
Those facts being that Biophan is a company that staggers from crisis to crisis, that only resolved its "sewer rat" problem because not to do so became unsustainable in the face of logical arguments, still hasn't cancelled its intended 357% MegaDilution and has a bigger sewer rat than the previous guys still on its case (BioMed and MW).
And perhaps most significantly, Biophan has yet to outline a plausible development plan, complete with costs and milestones for its sole product candidate, Myotech CSS.
I'm guessing that's because there isn't such a plan, and indeed that such a plan may not be possible.
I'm afrad our daytrading chums may have to take their losses, lick their wounds and move on to their next momo P&D opportunity.
Better luck next time, guys! (But just a hint to the wise -try to keep the TA jargon and the excuses more credible.)
"clay was already an existing market via Atlas Mining...in terms of halloysite clay"
The twist being that it has now transpired that no halloysite clay was mined at Atlas's Dragon Mine, and that indeed it may not even exist:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6124845-866-27962&type=sect&TabIndex=2&companyid=69126&ppu=%252fdefault.aspx%253fcik%253d8328)
It's now clear that anyone out there who was an Atlas Mining shareholder has been sorely deceived.
Here's a few snippets from that Current Report filed on August 20:
"The Company is “uncertain . . . whether . . . commercially viable deposits or ‘reserves’ exist on any of our properties.”
In other words, after nine months of investigation they still don't know whether or not the much vaunted halloysite clay actually exists at the Dragon Mine or not. I think I know what the likely final answer is.
"The Special Committee has determined that Mr. Jacobson was primarily responsible for the securities law violations set forth above."
Translation: Jake's a crook.
"During the period beginning in 2002 and ending in early 2006, approximately 30 million shares of Common Stock were issued in violation of the federal securities laws, including the registration provisions of Section 5 of the Securities Act of 1933. The violations involved (a) misuse of SEC Registration Form S-8, a short form registration form for compensatory issuances to certain officers, directors, employees and consultants (approximately 16 million shares were issued under Form S-8), (b) transfer of 9.9 million shares to related parties and affiliates that were purportedly sold under a Company Registration Statement on SEC Registration Form SB-2 and subsequent resales without compliance with the plan of distribution contained in the Company’s SB-2, and (c) grants of at least 2.8 million shares purportedly made pursuant to the exemption from registration set forth in Section 4(2) of the Securities Act."
This was not a small scale fraud, or just an oversight. It was a multimillion dollar fraud.
Makes you wonder quite what the KDS sold to Atlas was used for, and why Atlas, Natural Nano and Atlas claimed sales and processing of a product that didn't exist.
"HTOG did the same thing.. Tons accumulated on the bid, and one day it started running, and ran for 1000%"
palacian doesn't like it when you spam stocks. He told me off for mentioning a stock (actually in an unfavorable light), and I was referring to a stock that actually had some links with Biophan, rather than some historical event with an utterly unrelated stock that you'd like people to think BIPH will copy.
Just as an FYI, for those keeping the score, the day traders who've graced us with their presence for the past three trading days are 1 for 3 in terms of direction, and 0 for 3 in terms of magnitude of the change. Hope not too many of them are stuck on the wrong side of a trade, but if I believe their stated intentions, then the majority of them are.
No wonder all the empirical evidence says that charts don't work for penny stocks, and that the majority of day traders make a loss.
PS:
Market manager manipulation
Tons of accumulation
The charts don't lie
are all the traders' equivalent of "the dog ate my homework".