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FDA taking a critical look at drugs developed and tested in China. Even though ONCY has partnered with Adlai Nortye and Adlai is conducting trials in China, it is with a product already approved here in the U.S. which was developed in North America. If the FDA rules against or slows down Chinese developed and tested drugs, this may be another reason for some big pharma to partner or buy out oncy. FDA has already worked with ONCY to develop registration parameters so that leg up may tempt a partnership/buyout sooner rather than later.
FDA Raises Concerns About China-Developed Drugs.
Agency could slow the plans of big Western drugmakers to sell Chinese-tested medicines in U.S.
“We have nothing against drugs being developed in China,” said Richard Pazdur, director of the FDA’s cancer-drugs division. “Our issue is, are those results generalizable to the U.S. population?”
Drug-industry executives and analysts say the apparent shift in tone could lead to delays or outright FDA rejections of efforts to bring a growing pipeline of the treatments to American patients.
The shift threatens to halt the plans of Western drugmakers, including Eli Lilly & Co. and Novartis AG NVS, who were eyeing billions of dollars in sales from bringing the Chinese medicines to the U.S. It could also raise a new source of tension between the two countries.
How is it this turd is still floating in the vortex of a flushed toilet?
hopefully not like the cannibal who passed his brother in the jungle
can you buy at zero?
so far, it's just been pooping big.
yeah, it's exhausting. to paraphrase the former occupant of public housing, really getting tired of winning.
can you imagine where we would be without the marketing campaign?
happy it's finally kicked in.
maybe we should be encouraged this was/is not another murine study.
yeah, and wednesday is hump day.
back up the truck, the marketing campaign kicked in.
amendment coming with ghs in which lfap will PAY ghs to take additional shares.
could it get any wurst?
it's really nothing that a 10,000/1 reverse split couldn't resolve
give em a break. they have been far too busy rolling out the marketing campaign, it's hard work getting this to break and hold a penny per share value.
how about "why is it so meager" and "what are they doing to get more"
that means only 4 (count em, 4!) creation units have been sold. that's based on the sec docs which stated the creation units would each contain about 25k shares and sell for $1 million each.
breaking a creation unit is what has created the individual stocks which are now selling under the ticker "lgbt".
we are some months into the etf launch, $40 million in aum is the breakeven point, and it is only 10% of the way to breakeven.
the "community" may have a collective $8 billion, but the community hasn't yet demonstrated any support for either the etf (lgbt) or lfap.
based on a creation unit price of $1 million for 25k shares, each share should be worth $40. lgbt has not come close to trading at that level.
WHY?
what happens when we find out aum at launch was $10 million or less?
break even is supposed to be $40 million and can't believe we are even close to that after these past few months.
yeah, gotta love the action the marketing campaign is bringing to this stock.
no, it's like the movie "constipated". it hasn't come out yet.
until the etf gets over (significantly) $40 million in aum, this stock will be drifting. any movement will not be based on fundamentals. investors like cash flow in a company and as of now lfap is a long way off.
in default for less than $4k doesn't paint a very strong picture.
hopefully the "movement" can be picked up and this can be treated in the meme stock category.
otherwise, flipping in the range up to $0.10 is where the action will be for some time to come, bro.
yes, that seems to be the problem.
yes, it's launched. that's why we are doing so well. imagine where we would be without it.
that is one steaming pile of sh!t.
"Management has evaluated all activity up to August 16, 2021 and concluded that no subsequent events have occurred that would require recognition in these financial statements or disclosure in the notes to these financial statements other than the following:"
that blurb seems to indicate the etf has not reached breakeven or else a "subsequent event" would have been the anticipation of receipt of the percentage fee from the procure etf.
lot of outstanding liabilities and defaults.
doesn't seem to indicate a likelihood of any type of "run" in the near future.
anybody else have any takes on the 10Q?
can lfap attract crypto purchases?
Cryptocurrencies have become an investment craze, the stuff of memes, tweets and subreddits as celebrities, athletes and billionaires tout their favorites and pour money into the digital currencies. They are created and traded over a decentralized computer network and have a particular appeal to younger investors.
But the digital assets are more popular with some groups of investors than others, according to data from Harris Poll given exclusively to USA TODAY. While only 11% of white Americans report owning cryptos, 23% of Black Americans and 17% of Hispanic Americans own such assets, according to two surveys of 2,010, and 2,003 U.S. adults in June and July.
?Awareness of crypto is also much higher among people of color. Half of Black Americans, half of Asian Americans and 49% of Hispanic Americans say they are familiar with it, versus 37% of white Americans.
And people of color aren’t the only marginalized groups with a strong interest in decentralized currencies. One-quarter of LGTBQ Americans own crypto compared with only 13% of the general public.
Marginalized communities tend to worry they will lose money because they've experienced bias and unfair treatment, says Yosef Bonaparte, associate professor of finance and the director of external affairs in finance at the University of Colorado Denver.
But for groups that have experienced discrimination, currencies that are freely exchanged and not backed by a single government appear more equitable, experts say.
“There has been a long history of discrimination in investments,'' says John Gerzema, CEO of the Harris Poll. "And that could be why we have seen a wide demography of interest and inclusivity in crypto – because it’s new, open and seemingly has fewer barriers to entry.”
don't see any comparison of NAV to market price in the fact sheet. NAV is something an ETF calculates on a daily basis. why not show it?
also didn't see any direct reference to lfap.
what's the relationship between the $3.6 million of net assets to AUM?
the top 30 holdings only account for just over 50% of the weighted holdings. what makes up the rest? cash waiting to be deployed or cash used to launch the etf?
wonder why an 8k wasn't filed, this seems significant enough to have done so.
unlike blackrock, vanguard or state street all of which have multiple etf's from which to choose if a "client" wanted to include any one of them in their 401k options, as of now lgbt only had ONE etf and that provides NO choice for clients.
until procure is able to launch a number of etfs, i don't see any "client" rushing to include lgbt as a standalone option for their employees.
reinforcing my concern, not one mention of lfap in the cut/paste you posted.
going to the link for additional information (pal etfs), again no reference to lfap.
the only obtuse reference to lfap is the reference to the "Fund Sponsor" being "LGBTQ Loyalty Holdings, Inc." with no direct reference to the underlying stock symbol lfap.
if the regulators nix that type of direct reference in ads, how is one (other than the choir here) supposed to stumble across lfap as the future recipient of cash flow from the lgbt etf?
that's been my issue. while the etf may or may not get some really good press, unlike sh!t, it is not flowing downhill to lfap.
my post commented on the start of the first and second quarters, don't believe it had anything to do with bullishness on the stock.
since their fiscal year ends on october 31, their fiscal first quarter would run from november 1 through january 31 and their fiscal second quarter would run from february 1 through april 30.
it's been almost 3 months since the etf launched. seems we should know the current aum, regardless of when the marketing campaign starts. geez!
lgbt's volume in not the issue. it seems we need to know the AUM for the ETF.
as i've stated before, if the "creation units" consisted of 25,000 shares and each creation unit sold for around $1 million, the value of each of those 25,000 shares should be around $40/share.
the shares being traded as lgbt are individual shares from a creation unit and those shares have NEVER approached $40/share since trading began.
why is that?
getting ready to sell those 220 million shares certainly suggests the etf is no where near break even. THAT's what is keeping lfap's share price down.
everyone on this board understands that, but preaching to the choir is not going to get it done.
not as "share heavy" as some on this board (have 1 million shares), so my hope is that bobby will get his act together and the share price will go up.
before any significant $ flow to lfap, i would expect (if one is so inclined) that there will be many trading opportunities in the $0.10 to $0.20 range before we see any significant move upwards of $0.25 and beyond and for that upward move to hold.
despite all of the hype from some, can't see any of the multi-million share holders not to do some "cashing in" in that 10 to 20 cent range and hope for a retrace to load up again. I would expect there will be some sort of pump and dump around the upcoming "sale" of the 220 million shares which were recently registered and for which lfap is waiting approval.
bobby's tweet which was posted on the board today did in fact reference lfap. however, i just don't buy into a marketing campaign which promotes lgbt having any immediate impact on lfap's stock price.
would be wonderful if this were to become some meme stock and trade irrationally for awhile. maybe marketing could help that along if there were direct references to lfap and those direct references had some convincing information relating to income for lfap which might be realized in the near term. if stocks typically trade on some multiple of cash flow then lfap is in the toilet for some type imo.
lfap is kind of like a biotech stock waiting for an fda approval to get their product to market. typically that process goes through a phase I, phase II, and phase III trial process to prove their product. at best, lfap is in a phase I stage waiting for a proof of concept. a long way to go before product approval i would think.
then there will be those who might fear missing out if they were to sell and not be able to get back in because they don't want to chase a rising stock.
however, if you believe the multi-etf plan which is being espoused, it would seem silly to miss a trade over a tenth of a cent or a penny a share (trying to snipe a bottom) IF you believe there will be a waterflow of $ coming to lfap some time in the future. the way this single ETF was rolled out, my guess is that it would be many many months/years before there are multiple ETF's from which LFAP will benefit.
for me, despite all of the hype around bobby, i certainly think he has not managed this rollout very well.
for the snowflakes who melt when a little sun is shown on those things, one has to wonder.
i don't believe i ever made the contention lfap shouldn't promote the ETF.
i merely pointed out the distinction between lfap and lgbt, one which you don't seem to appreciate or understand.
You might want to consider that the ETF, which trades as LGBT is an ETF launched by Procure ETF Trust I.
That is a different company than LGBTQ Loyalty Holdings, Inc. which trades as LFAP.
IF Bobby is waiting for the S-1 registration to be approved in order to utilize funds associated with that stock (the 220 million), that has NOTHING to do with LGBT.
So, it's possible the ETF (i.e. LGBT and potential other ETFs at some time in the future) might have some type of marketing launch in the next few days, but that ETF (LGBT) is NOT LFAP.
LOL, the S-1 was submitted on July 22 and while an initial review with a request for comments to the filer may be done in around 30 days, the SEC typically takes 90-150 days to approve a registration filing.
So in actuality, the process is NOT NOW finished. Even at the low end of the approval process, LFAP could be over two months away from the S-1 being approved.
They may or may not get some type of interim ok to expend funds for marketing but that would appear to be outside the normal approval process.
he's just now figuring out he needed regulatory approval for his marketing budget for a campaign which was to be launched at the beginning of the months and will be lucky to make it by mid-month?
depressing that organizing a one-car parade is this much of a challenge.
yes, and a stopped watch is right twice a day.
received on july 22 and sec goal is to respond within 4 weeks.
if company needed that money to initiate its marketing campaign then they really F...ED UP with their timing.
another buying opportunity - we're saving so much $ we may go broke buying this.