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Freedom60 article placed on a Chinese website......
This week an informational/promotional type of article about the Freedom60 pump appeared on the 54MD website. 54MD, as best as I can figure out, is a China-based site focused on health issues. It is basically an online health business to serve Chinese people (online health information, access to an extensive array of health/medical products, sort of a virtual family doctor, etc.). It appears about 95+% of the visitors to this site are from mainland China.
I found this to be somewhat intriguing, since I have rarely seen RMS Medical Products or the Freedom60 pump mentioned on Asian websites. Although I'm not certain of this, it appears to me that the placement of this particular article was initiated by REPR, which would be rather interesting, IMO.......
Syringe Infusion System Operates Electronics-Free
A syringe infusion system provides a breakthrough in infusion pump technology by using the principle of dynamic equilibrium to optimize drug flow without expensive electronics, or for that matter, wall current or batteries.
The Freedom60 Syringe Infusion System consists of a reusable pump and special rate-controlled tubing sets. The pump utilizes a constant force spring mechanism to apply pressure onto a standard 60 cc syringe. The pump is designed to deliver fluid volumes from 1 to 60 cc. The constant force of the spring mechanism and the special rate-controlled tubing sets ensures an accurate delivery rate and consistent flow profile, while multiple fixed flow sets provide a range of delivery time and rates.
The Freedom60 Syringe Infusion System may be used for continuous or intermittent infusions, subcutaneous and intravenous with most peripheral, midline, and central intravenous catheters, including peripherally inserted central catheters. The Syringe Infusion System is intended for intravenous, intra-arterial, subcutaneous, and epidural administrations requiring controlled, continuous delivery infusion rates. The system may also be used for continuous infusion of local anesthetics into a postoperative site for pain management. In addition to pain control, major uses for the device include subcutaneous immune globulin; antibiotics, including vancomycin; chemotherapeutics; desferal; and others. The syringe, however, it is contraindicated for the delivery of whole blood, critical or life sustaining medications, or for the infusion of insulin.
The Freedom60 System allows the patient to be ambulatory, and can be used in various healthcare settings. The system does not require maintenance or calibration, nor are adjustments to infusions or restarts needed. It is reusable, and its comparatively low-acquisition cost with a lifetime of over 4,000 infusions makes it ideal for many environments.
The dynamic equilibrium inherent in the design of the Freedom60 syringe infusion system automatically balances infusion flow to the patients absorption, resulting in the fastest infusion rates with the least of complications. In contrast to pumps where infusion continues to a high, preset pressure, with the potential to create tissue damage or patient discomfort, the Freedom60 allows the infusion to continue, dynamically adjusting the pressure downward. The system eliminates concerns over bolus infusion, overflow, overdose, and runaway conditions. The Freedom60 cannot create an overpressure condition beyond 96.5 kPa; it provides constant safe pressure at 93 kPa, which tends to prevent clots, and holds full pressure during and after an infusion, preventing backflow.
The Freedom60 Syringe Infusion System is manufactured by RMS Medical Products (Chester, NY, USA). The company has been granted ISO 13485 certification for its manufacturing facility in Chester. The ISO certification underscores our existing commitment to quality, performance, and safety, said Andrew I. Sealfon, president of RMS. It also reflects our commitment to efficiently serving the needs of our customers, he added.
http://www.54md.com/news/n1/131666.html
REPR is advertising for assemblers again.....
REPR placed an advertisement last week for assembly positions.....
RMS Medical Products is an innovative company needing to fill key assembly, positions. We are a leading manufacturer of medical products that are designed to save or improve the quality of life.Our modern facility is located in (Chester NY) a small town in the Hudson Valley. We offer flexable hours and a great working environment, which is based on openess, trust and mutual accountability. If you would like to be considered for a team member position, apply in person or fax your resume. No prior assembly experience necessary but good dexterity skills are required.
Company Name: REPRO-MED SYSTEMS INC.
Location: Chester
Available: Immediately. Full Time. 1st and 2nd shifts.
Posted: 4/28/09
http://regionalhelpwanted.com/search/detail.cfm?SN=1&ID=21444675
Business redirection....intriguing, albeit somewhat confusing/puzzling.....
Today's press release gives a glimpse of a rather unusual business redirection strategy that the CEO appears to be putting in place. There is a part of this strategy that is equally intriguing and confusing/puzzling.
Establishing a new operating business via a wholly-owned subsidiary while at the same time actively marketing the parent company as a shell is something I don't think I have ever seen before in shell investments I have watched or invested in. That is the part of the strategy that I find somewhat puzzling, since it is basically the exact opposite of what you would normally see in a shell scenario. Usually you see management trying to clean the shell of any unnecessary or unwanted subsidaries/assets/liabilities prior to engaging in a reverse merger. I started accumulating shares of another shell recently partly because the CEO disposed of a subsidiary, which I view as a positive step toward preparing the shell for a potential merger.
I am wondering if perhaps there may already be some type of very general understanding/agreement with some potential merger candidates. Unless the CEO is intending to reverse merge with some type of company that would have a direct interest in keeping the new software development subsidiary (for example another software or tech holding company), the establishment of a new subsidiary at this point would seem to be potentially counterproductive. If a potential merger candidate has no interest in this new subsidiary, it would need to be disposed of (either sold, spun off, etc.), which can require some time/resources and make things more complicated than they have to be.
The part of this strategy that does look somewhat intriguing is the possibility that this new software development business proves to be successful with no significant negative impact on the share structure or the general financial situation of CCKH. The CEO definitely gives the impression in the last two press releases that CCKH is currently well-positioned to succeed. In particular, the quote from the the March 4 PR is rather interesting......
Michael Klinicki, president of the company, stated, "Shareholder value was the driving force behind the purchase. We are committed to providing our shareholders with the very highest value for their investment and I think our record speaks for itself. Our company remains completely debt free, has no short or long-term liabilities, and has enough cash on hand for us to meet our business needs and redirect operations over the next year to obtain profitability."
http://ih.advfn.com/p.php?pid=nmona&cb=1241740785&article=36565973&symbol=NB%5ECCKH
OT: Zen lunatic420....OTIX.....
"I hope you're able to find another reverse merger like that monster Phillip Frost orthodontics company one you found (was it OTIX?)....in any case, it was painful to watch that 20-bagger unfold from the sidelines."
OTIX was a fantastic example of what can happen when you buy an attractive shell and get a little luck to go your way.
From what I recall, OTIX had roughly 3 million shares outstanding and something like 15 cents per share in cash. I purchased 5k shares at 17 cents. A little more than 3 months later billionaire Phillip Frost bought majority ownership of the shell to eventually move one of his pharma companies into. Just a few days after Frost purchased the shell I sold all my shares for around $3.75 per share. I walked away from that 3+ month, $850 investment with a net profit around $18,000.
DesertRat1...buy orders not being reflected.....
"I've even called ETrade about some of my orders not being reflected on the bid."
I finished accumulating the total position I wanted yesterday (49k at an average of 21.5 cents). The experience you have had regarding buy orders not being reflected is similar to what I experienced yesterday using Ameritrade. The bid showed up on my screen as 14 cents, so I put in a 15k buy order at 20 cents but that order never did get reflected in the bid/ask.
Increased my position.....
Picked up 18k at 21 cents on Tuesday. Currently holding a 38k position with a cost basis under 19 cents.
Ideally I would have preferred to accumulate this position around 10-15 cents, but I got the sense that it may be somewhat difficult to acquire any significant amount of shares at those prices. I have the philosophy that if you identify an attractive low-float shell like CCKH, and you consider the ask price to be relatively attractive, it often works to your advantage to try and acquire a decent-sized position at the ask if shares are available. After you get the bulk of your position established, you can try and pick up shares at the bid or lower. Nothing frustrates me more than when I go through the effort of identifying what I think is a good investment but I basically get left behind because I spend too much time trying to fish for lower prices.
The last two days that I have bought CCKH I have had orders at the ask (17 and 21 cents) go unfilled, so I am starting to get the feeling that the supply at these prices might be becoming a little more tighter. All things considered, CCKH looks like a pretty attractive shell around this 20 cent area. I don't want to identify the symbols, but of the lower share structure OTCBB shells (say in the under 5-10 million outstanding share level) there are probably only 1 or 2 shells that I would personally rank higher than CCKH.
CCKH...17 cents...attractive shell.....
Picked up some more shares of CCKH today. Following the share buyback/cancellation, CCKH has a pretty attractive share structure (2.3 million outstanding). I think the float (which is less than 900k shares) consists mostly of individual investors from an initial financing, and if I recall correctly I think their cost basis is around 10 cents per share. I currently own a roughly 20k position, purchased at 17 cents.
From an email exchange I had with the CEO, it is my understanding that CCKH intends to do what I refer to as a "full-scale reverse merger" (complete acquisition of a target company and complete management change). The language in the last press release (coupled with the status of the company's financial condition) suggests to me that he intends to complete a deal sometime this year (and perhaps relatively soon).
As far as I can tell, the shell looks very clean and should be ready/positioned for a potential merger. Absent any unexpected/unattractive pre-merger changes to the share structure or financial condition (and, of course, depending on the exact structure/quality of the reverse merger), I think there should be some decent upside from this 10-20 cent area.
davidam...share price action.....
"I like the way the share price is holding up"
The stock looks pretty attractive to me in this 10-15 cent area, where it has been trading for about 2 months or so. I picked up some more shares this week at 12 cents (primarily for trading purposes). I am looking to get somewhere around a 3-4 bagger on those shares in the next few weeks/months.
With Vitro Biopharma's new website emerging from construction now, I am anticipating the company will probably begin increasing investor awareness of corporate activities/developments at VODG.
Vitro Biopharma website updated.....
The Vitro Biopharma website has started coming out of the "under construction" phase. I'm not entirely sure but I think the changes were done over the weekend (or very late last week). Some product/pricing information has been put up on the site.....
http://vitrobiopharma.com/
Maverick720...the significance of your background.....
"What puzzles me is how you keep trying to tie my being in compliance with what I do on this board. What does my involvement with Sarbanes Oxley or anything else in my job have to do with my own personal research, investing or sources of amusement?"
When the corporate compliance officer of a publicly-traded pharmaceutical company uses stock message boards to describe another biotech/pharma as being "a POS", "a scheme", a "bogus company", etc., it is something worth noting.
To paraphrase what I wrote over on the Investor Village board....
1) If I were the CEO of a biotech/pharma company and it was brought to my attention that my corporate compliance officer was using stock message boards to repeatedly bad-mouth another biotech/pharma as being a "bogus company", I probably would not be in a pleasant mood.
The fact that you love to throw around disparging remarks about VODG reflects poorly on your judgement. Common sense should tell you that maybe it is/was not in your best interest (both personally and professionally as an officer of a publicly-traded company). When you use the kind of language you did, accuse the company of being a scam or bogus, and accuse the participants in one of VODG's financings as being part of "a scheme", you run the risk of one day pushing the buttons of a company/person who doesn't take kindly to your remarks. And they may have the time/money/desire to make your (or your employer's) life just a little bit harder.
Part of the reason why your background is of significance is because you have chosen to make it so. You have definitively stated that VODG has nothing that any other company will want now or in the future. And you have reached this conclusion based on your vast knowledge/experience of the pharma industry. So, I see no reason why you should be "puzzled" when someone reminds everyone that you are a 20-year veteran of the pharma industry and a corporate compliance officer of a publicly-traded pharmaceutical company.
For example, on the morning of March 18, you made the following statement: "Gee... after yesterdays not so stellar news, I'm thinking they have a long way to go before that awful "E" disappears." You made that post 16+ hours after the VODGE symbol change appeared on the OTC Daily List and two minutes into the trading day when the symbol change had already taken place. So, I see no reason why it would bother you to remind everyone that you are the corporate compliance officer of a publicly-traded company, and have vast experience/knowledge of corporate filings.
Nor should it bother you when people point out that you like to talk out of both sides of your mouth. In your opinion it is ok for you to bad-mouth VODG because you are simply trying to "enlighten" people on what a bad investment VODG is. However, when you go over to the Investor Village message boards and someone tries to "enlighten" you on some stock you happen to like you become extremely upset and ask/plead/beg them to stop bashing the stock......
1) "There's an old saying that goes.. "if you want to catch fish, you have to go where the fish are."
With all of the turmoil and conflict happening all around Israel, think about how many potential opportunities there could be to get people into this trial. Is it possible that perhaps, in spite of your lowly opinion of management, someone woke up and sees a great opportunity to move this product forward?!
I've followed this board for some time and I continue to be amazed at how negative you continue to be. If you dont't think this is a good investment, sell and move on. Your consistently negative messages have gone way past the entertaining stage, now it is just sad. Seriously, let it go."
http://www1.investorvillage.com/smbd.asp?mb=9365&mn=330&pt=msg&mid=6945787
2) "Go away... you serve no purpose... we all see through what you want to do... Idiot!!!"
http://www1.investorvillage.com/smbd.asp?mb=9365&mn=248&pt=msg&mid=6507347
Maverick720...HDVY, for the record.....
"For the record, I've never owned HDVY but have been very entertained with HDVY based on one poster who pumps the HDVY story on another unrelated board that I do follow."
1) I find it somewhat interesting that you (a highly-skilled, corporate compliance officer for a pharma company) basically dismiss/distance your interest in HDVY by stating that you were merely "entertained" by a poster who pumped the stock. For the record, you were very pleased with HDVY and its prospects, as noted in this message you made in response to someone who had some very positive things to say about the stock......
"I agree with your summary and am very encouraged as well.
Are you familiar with a company by the name of Virtual Scopics (VSCP)? Do you think they could be a good customer for HDVY's "tool kit". If so, how do we get this potential lead to the good folks at HDVY?"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=22340144
2) I also find it somewhat interesting that you (a highly-skilled, corporate compliance officer for a pharma company) claim to have never owned HDVY, which directly contradicts your own past statement.....
"Just curious, what made you decide to sell HDVY? I have a very small position in it and was thinking of adding more but after reading that the moderator of the HDVY board over on IHub bailed out, and now reading that you're out, I think that I've made a bad decision. Thanks again for your insights."
http://www1.investorvillage.com/smbd.asp?mb=6640&mn=101&pt=msg&mid=2112307
NEOL...R&D stage pharma.....
Picked up a position in NEOL yesterday at 11.5 cents. There was a small amount of insider buying in the 4-7 cent area. A lot of these beaten down biotech/pharmas can have some pretty nice bounces. With a share count under 30 million and hints of positive news items coming, my hunch is that NEOL will see a pop into at least the 20s at some point in the next few months......
"In January 2009, we made the difficult decision to voluntarily delist our shares from the NASDAQ and deregister our common stock. The cost savings we will realize as a result of this choice will provide additional resources for our team to further develop the promising drug candidates within our portfolio; a task that we believe is in the best interest of our long-term shareholders. Although we are realistic about the challenging economic environment, we are encouraged by the preliminary data we are receiving from our trials and are hopeful to communicate the achievement of several new milestones to our stakeholders throughout the year."
http://investor.neopharm.com/releasedetail.cfm?ReleaseID=368777
REPR....price decline.....
It is kind of interesting to note that this past couple days of higher volume is somewhat similiar to what occurred exactly one year ago when the stock churned around 9-10 cents on relatively massive volume.
There could be any number of reasons for the decline. As was mentioned previously it could simply be a person needing to raise cash for personal reasons (taxes, health problems, new opportunities in other stocks, etc). All it takes in the microcap world is one dedicated seller with a good-sized position and you can get a pretty good decline started in a stock. Selling begets more selling.
It is always possible someone could be nervous about any changes that might occur regarding the Medicare policy that allows "exclusive" reimbursement for the Freedom60 pump. I don't know whether the revised policy has already been implemented or when it is expected to go into effect, but my understanding is that other infusion pumps (primarily CADD) will be permitted reimbursement comparable to what Freedom60 receives. I don't know to what extent the current policy has benefited Freedom60 in penetrating the market, but I think REPR's pump should still maintain a cost/performance advantage over the competition.
See items 7 and 8.....
http://www.ngsmedicare.com/ngsmedicare/dmemac/EducationandSupport/ToolsandMaterials/pdf/RegionBCouncilQuestionNov08.pdf
I still think the mention of the Freedom60 pump in ParinGenix's patent application is rather interesting. If nothing else, I think it acknowledges growing awareness/exposure of the Freedom60 brand in the medical industry......
http://www1.investorvillage.com/smbd.asp?mb=9059&mn=12&pt=msg&mid=6883170
DPRI...shareholder vote approved the asset sale......
"The company has not disclosed the outcome of the shareholder vote that was scheduled for last week (Thursday, March 26), but the fact that DPRI filed an 8-k today for the change in fiscal year is an encouraging sign, IMO."
The 10K filing yesterday discloses that the shareholders did approve the proposed asset sale. So there should be a fairly decent chance the business sale/transfer will officially be completed at some point, and the European venture capital group will take ownership control of a clean DPRI shell.
Following management's cancellation of some of their shares and the sale of some of their shares to the venture capital group, the total outstanding share count will be under 14 million, float will be under 7 million, and no debt/liabilities. I've accumulated a position in the 2-3 cent range.
On March 26, 2009, at a Special Meeting of Shareholders, the Company’s shareholders approved a Settlement Agreement and Asset Purchase Agreement, dated as of September 30, 2008 (the “Purchase Agreement”) pursuant to which the Company shall sell substantially all of the assets of the Company (except for $250,000) to Diversified Product Inspections, LLC, a Tennessee limited liability company (the “Buyer”) owned by John Van Zyll, Ann Furlong and Marvin Stacy (collectively, the “Management”), each of whom is a director, executive officer and shareholder of the Company. The Buyer will assume all of the Company’s liabilities as of the closing date of the Purchase Agreement. The assets of the Company to be sold include the real property owned by the Company which will be conveyed to the Buyer concurrently with the discharge of the existing mortgage on the real property (which mortgage will be assigned to and assumed by the Buyer on the closing date of the Purchase Agreement). The Buyer is paying for the assets by the Management’s cancelling all of their options and 6,459,877 of their shares of Common Stock.
Sofcon, Limited, EIG Venture Capital, Limited and EIG Capital Investments, Limited (collectively the “Plaintiffs’), who are the plaintiffs in a lawsuit against the Company and Management that will be settled pursuant to the Purchase Agreement, will purchase from the Management the remaining 3,000,000 shares of Common Stock held by the Management for $300. EIG Venture Capital, Limited will also receive $250,000 from the Company at the closing of the Purchase Agreement.
http://knobias.10kwizard.com/filing.php?param=&ipage=6238504&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=
Partnering forum presentation.....
"Furthermore, management has been invited to present at a partnering forum organized by a major pharmaceutical company who is known to partner with and acquire biotechnology firms. Such discussions may lead to additional capitalization of the Company."
My guess as to which forum is being referenced in the above statement from the company: The Rocky Mountain Life Science Investor Conference (September 17, 2009 in Denver, Colorado) would seem to be a semi-logical choice.
Among the noteworthy sponsors of the conference: 1) PhRMA (Pharmaceutical Research and Manufacturers of America), which is an organization that represents about 30 of the major research-based pharma companies. 2) Johnson and Johnson Development Corporation, which is the venture capital subsidiary of J&J.
If this is the forum, VODG would have an opportunity to make a 30-minute presentation, and this would be followed by a 30-minute breakout session.
http://www.rmlic.com/index.html
DPRI...potential shell.....
The company has not disclosed the outcome of the shareholder vote that was scheduled for last week (Thursday, March 26), but the fact that DPRI filed an 8-k today for the change in fiscal year is an encouraging sign, IMO. A change in fiscal year was one of the things that the proposed asset sale/transfer mandated if shareholders approved the deal. Some additional information.....
http://www1.investorvillage.com/smbd.asp?mb=9611&mn=11&pt=msg&mid=6538170
Some interesting statements in the quarterly filing.....
The 10-K filing the other day hinted about the possibility that something of significance might be happening near-term. Now, in the quarterly filing that came out today, there are these rather interesting statements......
The Company continues to pursue various activities to obtain additional capitalization, as described in the Company’s Annual Report on Form 10-K for the fiscal year ended 2008. A current focus is the launch of various products to support stem cell and drug development activities by our customers. Some of these products were completed to a market-ready stage during the first quarter of 2009. Subsequently, additional progress has been made and the Company is now beginning to introduce its products to commercial markets. The Company has also raised additional capital through sales of its securities, as described in Note H, Subsequent Events. However, additional expansion of the product line and aggressive marketing both require additional capital and management is activity seeking additional investment into the Company. Furthermore, management has been invited to present at a partnering forum organized by a major pharmaceutical company who is known to partner with and acquire biotechnology firms. Such discussions may lead to additional capitalization of the Company.
http://knobias.10kwizard.com/filing.php?param=&ipage=6216520&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=
Correction to last post.....
$224,333 divided by 1,238,176 shares = .181 cents/shr
I misplaced the decimal point in the above post. Should read "18.1 cents/shr"
davidam...CEO's debt conversion......
"Looks like Dr. Musick also converted some of what was owed him into shares at 0.05."
The debt conversion was actually done at a price slightly above 18 cents.....
$224,333 divided by 1,238,176 shares = .181 cents/shr
The financing agreement VODG entered into in early 2008 required the CEO to undertake two phases of debt reorganization. The first phase has now been officially completed with the above mentioned transaction......
On July 29, 2008, the Company authorized the conversion of $224,333 in accrued salary and notes payable due to the Company’s President and Chief Executive Officer into an aggregate of 1,238,176 shares of common stock, $.05 par value (the "Common Stock" or "Shares"). The conversion was completed and the shares were issued on February 11, 2009.
I don't whether any debt reorganization modifications have been made to the original financing agreement, but if the terms remain in place the second phase of debt reorganization involves the CEO forgiving a substantial amount of debt owed to him and placing the remainder into a note convertible at $1 or higher......
http://www1.investorvillage.com/smbd.asp?mb=9611&mn=5&pt=msg&mid=5742764