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White.... you assessment is "Spot On".
Sure, after a 1 for 250 R/S. This is what cash strapped penny stocks do to survive who do not have any revenues (sales).
RVVTF has 356 million in O/S and only 2.5M in cash. They are going to need cash. Everyone knows that MF and his insider buddies will never freeze their compensation packages in order to cut the cash burn rate. Diluting to raise cash at these low PPS levels will not cut it. And I doubt MF will take on new fresh debt to pay the bills. FDA success would have bailed them out with a higher PPS to dilute. So unfortunately I predict a nasty R/S in the near future. It is what it is. JMHO
I don't believe RLFFD is the correct symbol anymore. Should be RLFTF. I'll PM IHUB
I'm not bashing, but their most recent 8K also announces that they plan on doing a boat load more dilution. Which will surely put downward pressure on the PPS. What puzzles me is they roughly have 2x their debt is cash (per Yahoo Finaince). So why not use the cash to pay off the debt. There is clearly some sort of cashflow problem. Here is an excerpt from the recent 8K......
On June 22, 2023, Virgin Galactic Holdings, Inc. (the “Company”) entered into a distribution agency agreement (the “Distribution Agency Agreement”) with Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC (each, an “Agent” and collectively, the “Agents”) providing for the offer and sale of up to $400,000,000 of shares of the Company’s common stock, par value $0.0001 per share, from time to time by the Company through the Agents, acting as the Company’s sales agents, or directly to one or more of the Agents, acting as principal.
How long is long though. Here is Barron's view. They predict that it will take 7 years before this company will break even.. That's a long time to wait, and lot of things can happen between now and then.
----------Barron's
The problem is that analysts don’t project positive free cash flow until near the end of the decade when annual sales are projected to be north of $700 million. Sales in 2023 are expected to be about $11 million.
Could be a short squeeze, unless it becomes a very short flight.
Looks like you may be right. I found this on Space.com They claim to broadcast it on their site.
https://www.space.com/virgin-galactic-first-commercial-mission-importance
I found this....
Events will begin at 11 a.m. EDT (1600 GMT, or 9 a.m. local time in New Mexico) on June 29. The mission will launch from New Mexico's Spaceport America, where Virgin Galactic hosts a commercial hub.
The media always sensationalizes things.
Virgin Galactic stock surging today after announcing that its first commercial spaceflight will take off tomorrow
https://finance.yahoo.com/video/virgin-galactic-stock-rises-ahead-154708879.html
A three-man crew from Italy is set on Thursday
Virgin Galactic set to launch its first commercial rocket plane spaceflight
https://finance.yahoo.com/news/virgin-galactic-set-launch-first-142354325.html
I'm surprised that GEM went along with the R/S strategy. No NASDAQ uplisting in sight. Most reverse splits use that lame excuse to keep the SH at aby, and then never deliver. We'll see what happens here.
Unfortunately, once they do one R/S....it's very easy to do another, and another. So if the pps drifts down to a buck (from dilution) I predict another R/S.
Some very powerful good news is needed to resurrect this dog. ACER has a $1M cash infusion now, so maybe they will get the show on the road with generating revenues soon.
Acer Therapeutics Receives $1 Million Capital Infusion from Chief Executive Officer and Founder
https://finance.yahoo.com/news/acer-therapeutics-receives-1-million-123000673.html
Acer Therapeutics Receives $1 Million Capital Infusion from Chief Executive Officer and Founder
This should be good for RLFTF.
https://finance.yahoo.com/news/acer-therapeutics-receives-1-million-123000673.html
4 Hot Penny Stocks Making Waves : ALKM, FBCD, RMHI, RLFTF June 23, 2023
https://www.drpjournal.com/4-hot-penny-stocks-making-waves-alkm-stgz-fbcd-rmhi/
Affirmative!
It's about time!!! Their compensation packages should be frozen until they can start to generate sales of some sort. Their priorities are all backwards. RAM should be fired and replaced with someone who understands how to balance sales and marketing with R&D.
Of it is corrupt! They take bribes by way of the PDUFA fees. Unfortunately the government has enabled them to become corrupt.... all legal. Just unethical. That is our politicians at work! I'm sure that there are some political kickbacks in there buried somewhere.
Want proof. How about undercover operation on tape. Here is the link. Scroll to the bottom and watch Part 1 and Part 2. https://www.projectveritas.com/
No news. Just an imbalance in supply and demand.
Any idea what is causing the price spike today? I can't find any news on it.
not a clue. they stopped communicating matters of interest to the SH. I’ve always felt that the nasdaq talk was gibberish that penny stock ceo’s always say to appease SH before a devastating R/S. And they never shared with the SH their final analysis of the trial data that NRX was forced to give them. off the radar.
More dilution....The management salaries and bonus checks must be paid on the backs of the SH. Someday the fat cats will start doing their job and find a way to generate sales.
"..... Relief Therapeutics plans to use the net proceeds from the private placement for working capital and other general corporate purposes."
https://finance.yahoo.com/news/relief-therapeutics-holding-sa-announces-053000386.html
Here is the full items up for vote......... #8 looks like a R/S
I received the proxy to vote on this items TODAY.
https://www.sec.gov/Archives/edgar/data/1809616/000121390023042704/f6k0523ex99-1_universe.htm
This looks like a R/S in their proxy to be be voted on..... is it not ???
As ordinary resolutions, that: conditional upon the approval of the Board of Directors in its sole discretion, with effect as of the date the Board of Directors of the Company may determine: a. authorized, issued and outstanding shares of the Company (collectively, the "Shares") be consolidated by consolidating each 10 Shares of the Company, or such lesser whole share amount as the Board of Directors may determine in its sole discretion, such amount not to be less than 2, into 1 Share of the Company with such consolidated Shares having the same rights.
Acer Therapeutics Inc gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $9.67 https://www.investorsobserver.com/news/stock-update/healthcare-stocks-moving-wednesday-pbla-chek-acer-indp-namsw-nams-carm-zlab
In theory, this should help RLFFD. --- Acer Therapeutics Inc gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $9.67 https://www.investorsobserver.com/news/stock-update/healthcare-stocks-moving-wednesday-pbla-chek-acer-indp-namsw-nams-carm-zlab
I'm sorry for your losses. I feel your pain. I have transformed from bullish to neutral. I slowly made the switch when this CEO dragged his feet 'out of the gate' when he got the green light to start the FDA P3 trial. He had at least 6 months to prepare while waiting for the FDA signal. Once the green light came he was like ... Duhhh, what do I do next? It then took him months to get his feet off the ground. Then he posts a lot of garbage about the future of 'shrooms'.
IMO, there is a very high probability that the whole chase after EUA was smoke and mirrors in order to sustain a higher PPS for him to dilute into. Over time his shroom dreams fizzled so he became a little more interested in the FDA initiative, but it was too late. COVID is over, and his O/S is growing with no results to show the SH. It doesn't help matters that this CEO has ZERO communication skills.
I tell you how it is. Take it or leave it.
My expectations of penny stock CEO's is very, very minimal. 98% of them are driven by greed, and they will screw over the SH if it benefits them. It is what it is. Swing Trading is the only smart way to trade penny stocks trading below a dime. 98% of the time the CEO's "End" goals are never met. They lure in investors to chase a very low probability dream. They get rich, the common SH loses. This is what I've learned the hard way. I was only in RVVTF for the unlikely event they would win the EUA. Without that, I'm seeing the glass as half empty. JMHO
I've seen many of R/S happen with the o/s at 500m Of course they will use the old excuse that they need it to uplist to the NASDAQ. That's a worn out excuse. They all use it.
OK...nothing wrong with viewing the glass as half full if one is a stuck long. What other choice is there.
Considering this CEO's slowwww track record, I just believe that it will be 2024 or 2025 before the results of a new trial will ever be disclosed to the SH. Over that time, a whole lot of things can happen (good, bad or ugly) behind the curtain with a penny stock like this. I used to be bullish with this. Now I'm neutral (at best). GLTY.
Reason for PPS crash... failure to meet FDA Phase 3 primary endpoint for MANTRA.
https://finance.yahoo.com/news/rain-oncology-announces-topline-results-120000095.html?.tsrc=rss
However, RAIN does have two other drugs in the pipeline, but unfortunately neither one are in Phase 3 trials.
Pipeline....
https://www.rainoncology.com/pipeline
Fundamentals (debt to equity, O/S, etc) are great, and I see no historical record of an R/S.
IMO RAIN is oversold, but the panic selling may not be complete. It should see a gradual (slow) recovery to the upside over time. But without positive news on the FDA front, I see these price levels as setting a new support level for quite some time.
JMHO
Why? Could be a falling knife.
What caused the price to crash in May?
I thought TSOI had more patents than that.
Giovanni...yes, and I've read somewhere that the FDA must recall 2,500+ (maybe this is a little high) drugs every year due to risks of injury. One may ask .... how does this happen? IMO, this happens because of PDUFA. The FDA receives $$$ (PDUFA fees) from every drug that is approved and sold on the market. This is a conflict of interest, and provides the FDA with an incentive to approve drugs that should have never been approved. These fees also result (IMO) in the FDA being biased towards the BPharmas that will generate the highest PFUFA fees....leaving the little biotech (ex: RVVTF, RLFFD, etc) out of the equation.
PDUFA fees came about so as to provide the FDA with $ resources to help expedite the approval of drugs (a good thing for consumers). But instead it's just provided a vehicle for corruption.
Congress should end PDUFA fees, thereby remove the incentive for corruption. IMO RVVTF is too small to generate a enough PDUFA fees to get the attention of the FDA. JMHO
rick...Unfortunately I have to agree with you. That PR clearly implied that a NEW trial is needed IF the FDA approves the new metric goals. They are back to "Base One" I'm afraid. This is several years away from final FDA approval on anything (at best).
With the O/S over 300M and climbing, I just don't see how the salaries and overall compensation plans can be sustained without an R/S in either 2023 or 2024. All bad news I'm afraid. I've seen this happen far too many times with penny stocks.
a little update from an analyst... I don't think they is anything too new her, but ... "develop a defined recruitment plan" - implies that they are back to Base one IMO.
https://www.proactiveinvestors.com/companies/news/1016408/revive-therapeutics-staying-the-course-on-phase-3-trial-of-bucillamine-in-covid-19-patients-after-meeting-with-fda-1016408.html
Significant Institutional Buying occurred 2022 (Qtr3 and Qtr4) and 2023 (Qtr1)
https://finance.yahoo.com/news/81-stake-microcloud-hologram-inc-121326008.html
.............excerpt
With a 81% stake, MicroCloud Hologram Inc. (NASDAQ:HOLO) insiders have a lot riding on the company
Simply Wall St
Sun, May 28, 2023 at 8:13 AM EDT·4 min read
Significant insider control over MicroCloud Hologram implies vested interests in company growth
A total of 5 investors have a majority stake in the company with 58% ownership
Ownership research, combined with past performance data can help provide a good understanding of opportunities in a stock
If you want to know who really controls MicroCloud Hologram Inc. (NASDAQ:HOLO), then you'll have to look at the makeup of its share registry. With 81% stake, individual insiders possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
With such a notable stake in the company, insiders would be highly incentivised to make value accretive decisions.
Johnny, what will you say to Tim after he receives his first FDA approval and the PPS spikes to $1 ?
Unfortunately the IRS only permits 3K write-off per year.
RVVTF has gotten hammered too. They thought they had a covid pill, but the FDA said... 'not so fast'. And there goes their PPS. It wasn't too long ago and they were sitting at 40 cents.