Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks much, Monty, for your reply!
You said:
If whomever buys Xechem International's assets wants to pursue legal action to get Xechem back, there could be a reconnection. Our plan, if we ended up getting XN and XI, was to do that reconnection, but obviously our plans weren't successful, unfortunately...
If whomever buys Xechem assets decides to reconnect, would XN or XI be interested at all?
Take that scenario one step further, how would that affect the shareholders?
Hopefully the resumption of production is good enough reason for buying this shell company for distribution and marketing. Afterall, XeChem is international.
There are people still working relentlessly trying to turn things around.
There are people who have been trying so hard to convince others that this is the end.
There are people who still want to buy shares regardless of this doom and gloom.
There are people who still believe that this is not the end but just another phase Xechem has to go through.
I beleieve that every person is free to believe what is righteous and hopeful.
Lochute, I am with you as always
Paup,
Interesting scenario!
Lochute,
It's only his figure of speech, I guess. I admire your faith in XeChem, as always.
Could this moribund company be XeChem yet to be turned around and put "back on its sound footing"???
Orya, who was speaking while hosting the Finance Correspondents Association of Nigeria (FICAN) in Abuja on Wednesday, said the company manufacturing the drug folded up early last year due to financial crisis and would be resuscitated within the next three months.
He added: “We know the market is there. Apart from trying to get a drug that will stop Nigerians from dying every day, it will produce the required cash flow for us to bail out ourselves, bail out other banks and even bring the moribund company back on its sound footing. We are sure that within the next three weeks, we will commence the special production.
Any chance of credit committee led restructure /share conversion at this stage of Chapter 7?
Thanks for your clarification. For a while it appeared that there was substantial trading activity.
Do you hold any shares?
For every share bought there is one share sold. Why would anyone buy any shares if they are worthless? It should be all asks and no bids in theory, shouldn't it?
SETTING THE STAGE FOR THE CONVERSION OF SHARES IN APRIL AS PER COURT ORDER??? IN THE DOCKET, IT SAID EITHER CHAPTER 7 OR CONVERSION IN APRIL...
THOUGHTS?
Does anyone know how many shares the old guards of XKEM still own?
If the government comes on board with bail out and partnership with XeChem Nigeria to produce Niprisan, it may not be such a bad idea. For one thing, our license to produce may be regained. The banks at least will be less likely to be bothered with endless lawsuits, especially the one against NIPRD to give the license to another company. The government can regulate how the debt will be restructured so that the banks will get paid up ONLY if production is well on its way. Therefore, derailing the production line will not be helpful to any party. Of course, the government needs to be reassured that there is light at the end of the tunnel once the international stage for Nicosan becomes national pride for Nigerian and US investors.
Monty,
Thanks so much for your elaborate explanation. As always, your hard work is greatly appreciated.
It appears that one possible solution could be of two folds. NIPRD Board may have to override the management to breathe life into XeChem Nigeria again. The banks have to realize that there is better chance for recovering their money if Niprisan is to be produced and marketed worldwide in a large scale. It means that paying down the debt is NOT their first priority but they will have the repayment once production is up and running. Once they are good to go, we may stand a good chance of moving forward together for ONE common goal. I have just come to grip with the complexity of getting all parties involved on the same page for them to realize that going forward together may be a better alternative than endless law suits and court battles to solve these multi-dimensional problems. Better still, I hope NIPRD board can work out some sort of compromise with the management to function as a team. I can understand why you have been "banging on your head" over these sorts of things.
Merry Christmas and Best Wishes to Everyone!
Larry
Two persons looking out the window, one sees stars the other sees mud. You're entitled to your view, for sure.
If everyone can sell some stocks when it pops and pitch in to help XKEM to turn around, NIPRD will have the faith to believe that we are very serious supporters for long term growth. Every dollar counts. Action speaks louder than words.
Again, many thanks to you Monty for being so dedicated to this project. I am looking forward to seeing you taking charge of production soon.
God Bless!
Larry
If profit is the chief motive, can Nicosan be brought to the attention of Onyebuchi Chukwu so that he can have a generous cut of the profit once the production takes off. I don't think it would hurt to have both treatments going: one being phamaceutical and the other being herbal in origin, unless he has signed an agreement to reject Nicosan due to the conflict of interest with Astra Zeneca. Could he be informed properly about the benefits to his people and to his administration in a more profit-oriented approach? I think government support will make a big difference, just like a lot of business run in China or other developing countries.
Let me see if I get this right. By design, it means 5-HMF holder will attempt to profit from it while the court hearings go on and on. It has been in the plan designed from the day Swift came in.
Nicosan designation as an orphan drug is still valid so marketing it outside the US is acceptable. But inside the USA, it needs orphan drug approval to be marketed as a drug.
In the meantime, in the US and Europe, Nicosan can legally be sold as a supplement or herbal remedy for the alleviation of SCD symptoms, much like Cold-FX as a cold remedy for influenza and common cold, right?
If only we can get the production of Nicosan up and running again, I think the big picture may change. The battle of XeChem in the court can still go on for years while the company turns around and emerges from bankruptcy. What are the creditors up to?
NIPRD wouldn't want to be without Nicosan for too long so the license to produce will have to be assigned to either XeChem again or to another company. If it's another company, would it happen to be one conveniently having connection with 5-HMF?
Did you really think it would take over a year(s) for the court to finalize? I was under the impression that it would be just months.
Another way to look at it (but don't quote me) is this: Think of 0.0001 is your base price and any big volume change likely is to go up to double or more. At least a person has some control over it than betting on red or black at the roulette table in the casino. If it goes up to 0.0003 and you manage to sell it , you'd get your triple return. Betting on odd or even only gets you double, let alone the monkey wrench of zero and double zero. For every fantastic return you get, just set aside some money in your special account for XKEM in the future. Besides, it's more fun and rewarding to see a company like XeChem to resurrect itself for a good cause.
On the other hand, if you're already eager to support XKEM and don't want to wait, just contact Monty privately.
Sorry for the lack of clarification. I mean if you have bought a big quantity already at 0.0001, when you make a profit of doubling your return or better, don't spend it all but set aside some to help XKEM out. If you have not bought any, you chance of getting some at 0.0001 is still good when the volumes are high. At the end of the day, XKEM will stand a much better chance if everyone can pitch in to help out at the right timing. I mean everybody. You'll be surprised even $50 or $100 or more from A LOT OF US can make a HUGE difference! We've got to feed the golden goose for her to lay gold eggs.
A message for those who bought a big pile at 0.0001:
1. If you happened to have sold some of them for profit of 100%, 200% or more, please consider saving some of your money to support XKEM to help it turn around for good.
2. Every dollar you pitch in to help is going to pay huge dividends when XKEM takes off.
3. Don't forget that XKEM is like a little patient who needs the injection of funds to get healing and growth --- the critical funding will ensure faster return to good health. So, every dollar counts.
Thank you so much!
Hey Lochute,
Your undaunted faith in XKEM has been the cornerstone of the spirit of this board. It's sad to see that your posting is limited. That KEY means a lot not just to Monty but to a lot of people involved here who have been selflessly dedicated to XKEM for a good cause.
We're with you all the way, my friend!!!
Best regards,
Larry
Hey Lochute,
Your undaunted faith in XKEM has been the corning stone of the spirit of this board. It's sad to see that your posting is limited. That KEY means a lot not just to Monty but to a lot of people involved here who have been selflessly dedicated to XKEM for a good cause.
We're with you all the way, my friend!!!
Best regards,
Larry
Indeed Chilly, with the right kind of management dedicated to get Nicosan back to production, XKEM could be worth what a penny stock should be, just by virtue of its potential to generate revenue alone. XKEM may be beaten hard but not dead. It has been seriously exploited by wolves in sheep's skin. Enron, your favorite comparison, is initiated and spear-headed to cheat on investors from day one. That, in my view, is the biggest difference.
After the trial on Swift and his associates, I hope there is justice to be served.
Thanks for keeping up with the fight, Raven! Isn't what freedom of speech and expression is all about?
I certainly hope that Monty will soon turn another page for the viability of XeChem --- a company with true grit for success, given the chance to be managed by the right kind of people. Along with the SCA suffers in Nigeria, they deserve a second chance!
Best regards,
Larry
Many thanks, Elis!
Hopefully the judge will conclude it with a verdict so that justice is served.
Thanks for your clarification, again. If you ever change your mind please let us know. Meanwhile, many thanks for being contributing so much on behalf of the shareholders.
Fox, could I please have your email so that I can discuss this option privately?
Fox, would you be kind enough to be our leader to file action of antitrust as timing is of essence? Whatever Monty's plan of reorganization may be a separate entity anyway so one action may not interfere with the other. Am I correct in my reasoning? Is our attorney interested in taking this type of action?
Could some lawyer hired by us be interested to rescind Swift's consultant's fees and use it to finance the filing of this claim?
Saturday Night Fever's footworks would pale compared to Swift's tango! The difference is that the S/H are not applauding.
So Swift was the "deadlock specialist" also --- another major task added to his multi-task capability.
You may have a point there. A lot of the traditional Chinese herbal medicines are derived from herbal products started out as sun-dried plants and then processed by boiling in water to extract the ingredients. Herbs in the sun-dried condition keep their medicinal value for a long period of time. I am just wondering if those 4 herbal plants used for Nicosan can be sun-dried (and/or heat dried)and then shipped over to the good old USA by the container loads so that Nicosan pills be produced in the Coca-Cola way. That way, XKEM can have better control of the end products. This, of course, has to have the approval of the Nigerians. The scenario is that we can sell it as a supplement that works well for SCD.
Speaking of multi-tasking, Swift was the producer, the director , the actor and also the "consultant" collecting his hefty fees from Xkem. Meanwhile, the S/H helplessly watched this show to play it out without any voting rights even though it is a publicly traded company. Something is not right there.
Another main problem was that our CEO did not want the shareholders to know much about this by NOT having any S/H meetings, voting by proxy, disclosure, etc. It was a one-man show!