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The company's website is avanttechnologies.com not avant-ai.net
SoFi trades mostly in line with Nasdaq, so... as goes Nasdaq so goes SoFi. When you see the Nasdaq in the red during the premarket futures market, you can expect SoFi to be in the red as well. During trading hours, as the Nasdaq goes down, so too, does SoFi... as it recovers, almost always so too, will SoFi.
I have seen you post that there will be no reverse and that the SEC and FINRA have denied any more reverses for this stock... where are you getting this information? Is there a link that I am missing?
Do we have any timetable on when a conversion and R/S would actually happen if the judge rules in favor of that scenario?
Now, the question is are shorts going to cover. It's the end of the month, and we won't have a ruling for at least 2 weeks. This could be an expensive 2+ weeks for them.
I didn't hear her say "by July 14" ... I heard her say she didn't know when so don't call the court.
There will not be an opinion today or next week. It will be a written opinion that appears on the court's website at some point in the future.
The judge just said something along the lines of when we adjourn today... we'll continue to look for any objectors. Is this a hint that there won't be a decision today.
You didn't miss anything.
Based on the judge's questions so far, she appears to be leaning against the plaintiffs in my opinion. I do think the attorney for the plaintiffs has made some good arguments; however, I am not convinced she thinks they matter.
Do you know if there is a post here somewhere that explains what "could happen" in both scenarios... if the judge rules in favor of the conversion or if the judge rules in favor of the class action suit? Is there a way both AMC and APE shareholders can see green in the market?
Thoughts on today's tender offer news and Josh Silverman's quote, which makes it sound as if there is no decision coming anytime soon on the company's path forward?
It sounds like they're just going to use PharmaCyte as a money-raising platform while shrinking the shareholders and increasing their own ownership %, which could lead to them shutting down PharmaCyte and divvying up the windfall of cash among themselves.
https://finance.yahoo.com/news/pharmacyte-biotech-announces-cash-tender-123000334.html
Daniel Stuart Farb of Big Mill Pond Capital is the Board member who has the short put option.
Hedge Funds are not the friend of retail and never have been. They use retail to enrich themselves. Iroquois/Rich Abbe saw all that money and started salivating and then immediately came up with a plan to control it/steal it. Anyone who is here for the science is going to be disappointed because they will surely ditch CIAB.
As of the date of this report, since 2016, Iroquois Capital filed Schedule 13G ownership forms for 29 companies. The vast majority have since experienced significant decreases in their share prices, in some cases greater than 99%. The average annualized rate of return for these 29 companies is a horrific -22%. If two significant outliers are removed from the calculations, this statistic drops to -36%.
https://utopiacap.com/iroquois-capital-management-llc/
Here is a chart from the link above of 29 companies where Iroquois got involved and cratered all but 6 of the companies (and those 6 have all cratered since the date of the report. This is what Iroquois does to the companies they get involved with.
https://utopiacap.com/wp-content/uploads/2020/08/Iroquois-Index.png
I am just basing my thoughts off of Iroquois Capital and Joshua Silverman's history together at Iroquois and ever since Silverman "left" Iroquois to be the hedge funds inside man on Boards. They have destroyed many companies, including every company where Silverman is on the Board of Directors. They have a tendency to come into companies and merge something into it, change the name, ticker symbol and abandon what the company was doing beforehand. My guess is they merge failing companies that reside in Iroquois' portfolio and need cash. So, I expect the same for PMCB.
Behind Neurotrope, Clear And Overwhelming Links To Fraudsters
https://seekingalpha.com/instablog/6460311-unemon1/4985776-behind-neurotrope-clear-and-overwhelming-links-to-fraudsters?source=instablogs_title
"Various parties involved in Neurotrope are using multiple arrangements to drain much of the cash from Neurotrope IMMEDIATELY after capital raises. They are making millions of dollars without any need for any successful drug - EVER."
Neurotrope is now Synaptogenix where Joshua Silverman is the Chairman of the Board. The company has no money left and 2 failed clinical trials. Don't be surprised if PMCB, under the new Board, acquires this company.
The hedge fund that runs the company now is probably figuring out how to transfer the $85 million to their account, get rid of Cell in a Box, and aligning their plans to short the stock in order before they worry about a silly ole shareholder meeting.
PharmaCyte definitely came out ahead in this agreement. There is a standstill period that is a minimum of 2 years and could be longer.
[[Pursuant to the terms of the Cooperation Agreement, Iroquois also agreed to certain customary standstill provisions lasting from the date of the Cooperation Agreement through the date that is the later of (i) September 30, 2024 or (ii) the date on which neither of the Iroquois Appointees (nor their respective designated replacements) continues to serve on the Board (the date of the Cooperation Agreement through such later date, the “Standstill Period”).]]
Also, notice the language, "the date on which neither of the Iroquois Appointees..." Neither of the 2 and only 2.
Yes, lots of shorting. Every single share Iroquois had at $4+ in the two public offerings were sold off in the run up to $9.98 (even higher in AH trading) on 229,464,864 volume on August 18, 2021. That run triggered the warrants which they received, and then Iroquois and others proceeded to short it back down to $2 and less range. On the way up they made money, and on the way down they made money, and they collected shares from their warrants in the process. They then started using some of the money they made from selling and shorting PMCB to build a position and add to the shares they got from the warrants which today equals 6.7% of the O/S from $1.79 - $2.50. It's not that difficult to do.
There seems to be a disconnect that a hedge fund can't sell off its initial investment position if they have still have 6.7%. They can sell it off, make millions, and then buy it back using some of that money. The O/S is only 22 million-ish shares so it's not that difficult. That is about 1.4 million shares so it only costs a fraction of the millions they made selling on the way up to $9.98 and then shorting it back to $2 and below especially given they already had a starter position with the warrants they triggered on August 18, 2021.
That is just not correct. The press release, which had to be agreed on by Iroquois in a cooperation agreement, states that 2 Iroquois directors will join the board. Iroquois offered a full slate of 8 directors in one of its public releases, and Dan Farb, Dan Allen and Jack Stover weren't on it.
Do I think they want to get rid of KW, well, of course. But the cooperation agreement and the standstill period will decide how much they can do and for how long they must stand down.
Thanks for pointing out the obvious as we all know Iroquois is one of the company's largest shareholders. What is left out of this, however, is that Iroquois shorted the stock down to $2 along with several of their hedge fund friends AFTER Iroquois made millions by dumping all of the shares it received at $4+ as part of 2 public offerings when Iroquois and other hedge funds ran the price up on August 18, 2021, and triggered the warrants. They then got their warrants, shorted the stock, and began buying shares again from $1.79 to over $2 to amass a position large enough to threaten the company so that they can try to steal $80+ million.
Iroquois is VERY CAREFUL in its public statements not to say THEY lost any money because it would be a false statement that would have come back to haunt them during a proxy fight.
You included a line from one of their releases that makes my point. "Company's stock price trading almost 50% lower than the price at which our initial investment was made in August 2021, and at a significant discount to the cash on PharmaCyte's books." You notice they don't say WE lost 50% or that the price is almost 50% lower than the price of our investment; instead, they say our initial investment. They merely point out that the price, which they crushed by shorting it, is lower than the price at which their initial investment was made, which doesn't mean they still have those $4+ shares.
See Pete gets it. Yes, that is exactly right. With a seat at the table, Iroquois will know what is going on and know when to short. Go follow all of the company's Iroquois has gotten involved with and look at the price they first bought in at and then the price of the stock months and years later. Some of those companies are down 99%, including some they bought at $800+ and $400+ that are now barely $1.
I know it's easy to find so here it is. Here is the press release where Iroquois stated the company's stock price is trading 50% below cash value. Iroquois has never said THEY are down 50%. Iroquois shorted the stock to 50% below cash value, which is why the stock is trading 50% below its cash value. Hedge funds are not the friend of retail investors and Iroquois has proven that over and over and over, including right here at PMCB where they shorted the stock to below 50% of its cash value.
Iroquois has already made millions of dollars on PharmaCyte and its retail investors, so they are definitely not going to publicly state that they are down 50%.
https://finance.yahoo.com/news/iroquois-capital-commences-consent-solicitation-100000839.html
Iroquois has shares from its warrants and Iroquois has been buying in the $2 range since they shorted it down to $2. They have 0 shares left from the $4 or more public offering. This really isn't that difficult to understand. Iroquois is a hedge fund. Iroquois had over 7.2% in their July 28th press release. They are now down to 6.7%. Iroquois will short PharmaCyte as they have done with EVERY stock they get involved with without fail.
NO, Iroquois did not say THEY are losing 50% of the value. They said, the "Company now that it has been uplisted to Nasdaq and has over $80 million in cash on its books, while its stock price is trading under 50% of book value. However, what Iroquois left out of that press release is that THEY are the reason the price is trading under 50% of book value because Iroquois and their hedge fund friends shorted it there.
Yes, it can be said PharmaCyte won because they maintained control of the board with a 5-2 majority. That is a win. If the cooperation agreement says that Iroquois has agreed to a standstill of 1 year, then they can't do anything for 1 year.
And you do understand the meaning of "hedge" fund correct? They don't have an average price of $4 or more anymore. They sold all of those shares when they, along with other hedge funds from the public offering last year pushed the price up in August 2021--where they all made millions. And then Iroquois, along with other hedge funds got their warrants and shorted the price down into the $2 range. Iroquois is the reason the company's price dropped into the $2 range and all of their warrants are used as a HEDGE as they short in the future should the price ever go up.
Disagree. We will have to see the cooperation agreement to determine the standstill period and provisions. That will explain how long Iroquois will be forced to live with the current Board. Standstills are usually for 1 year, so KW has at least a year unless they've agreed to a shorter time period. Also, both sides in all negotiations say plenty of things that they may or may not mean to be the end result. Based on what was said, it is clear both sides were talking amicably prior to Iroquois throwing a temper tantrum, so I would say KW was perfectly okay with adding Iroquois' capital markets nominees.
Depending on what the agreement says, I would say PharmaCyte has to be very pleased with the outcome because they wanted capital markets experience and now they have 5 Directors with capital markets experience, including 3 of their own (Jack Stover, Dan Allen and Dan Farb), and they wanted to retain control of the board, which they did. Now, if the stock doesn't perform, KW can point to the capital markets people as the reason why since Iroquois made it more than clear that capital markets experience would be the savior of this company.
So, when Iroquois starts shorting the stock into oblivion like they have done with every single company they've gotten involved with (because hedge funds are NOT the friend of retail investors), their capital markets nominees will shoulder all of the blame. The only way PharmaCyte lost in this deal is if the standstill is less than 1 year.
Iroquois ended up with 2 Directors out of 7.
5 Directors are PharmaCyte's Nominated Directors
2 Directors are Iroquois' Nominated Directors
5 > 2
I would say PharmaCyte won.
Of course it can be changed. However, you said no official date had been given yet, and a date in an 8-K is official until it's changed.
According to this 8-K filed on June 7, the annual meeting is set for August 25th.
https://finance.yahoo.com/sec-filing/PMCB/0001683168-22-004190_1157075
KW has been dreadful as a CEO, at least until more recently, so the company needs to have a Board that will hold him accountable, but Rich Abbe, Joshua Silverman, and Iroquois are frauds, so as a retail investor, rooting for a hedge (vulture) fund to take over your biotech company might be the dumbest thing I have ever seen. Hedge funds use retail investors to get rich and they don't care about the science. And now they want you to sign the consent solicitation allowing a vulture fund to change the company's bylaws so they can take over and steal the money and short the stock to nothing.
If you know anything about Iroquois Capital, Rich Abbe, and Joshua Silverman, you will run for the hills if they get their way. Anyone who bought after the split better sell immediately if Iroquois/Abbe get a majority of the Board because they will send the price under a dollar. I see Rich Abbe constantly making comments about the price of the stock, but he leaves out that it was Iroquois and his buddies at Sabby, Intracoastal, and other institutions that shorted it to where it currently sits on August 19, 2021, AFTER they made millions by taking from retail investors as they ran the price up on August 18, 2021, and then cashing in their warrants which they hold as a hedge while they short the stock. Rich Abbe and Joshua Silverman are frauds who have a long-running scheme of taking over companies and taking all the money and then shorting the company into oblivion. They are attracted to PMCB because the company has $85 million cash, period. They couldn't care less about shareholders or shareholder value. They will abandon the science and likely find a way to take the $85M or use the money to buy up failing companies that help their portfolio in some way, and then leave the company to die as they short it to nothing.
https://utopiacap.com/iroquois-capital-management-llc/
https://seekingalpha.com/instablog/6460311-unemon1/4985776-behind-neurotrope-clear-and-overwhelming-links-to-fraudsters?source=instablogs_title
From above story: Just weeks after the BRNI bankruptcy filing, hedge fund manager Joshua Silverman supposedly left his fund Iroquois Capital to become Chairman of Neurotrope. Joshua Silverman and Iroquois are currently under SEC investigation for their role in an imploded stock promotion called MGT Capital which appears to be very similar to the Neurotrope promotion. Although Silverman says he left Iroquois, suddenly Neurotrope began using the same address as Iroquois.
Various parties involved in Neurotrope are using multiple arrangements to drain much of the cash from Neurotrope IMMEDIATELY after capital raises. They are making millions of dollars without any need for any successful drug - EVER.
Here is a chart from the link above of about 30 companies where Iroquois got involved and cratered all but 6 of the companies (and those 6 have all cratered since the date of the chart).
https://utopiacap.com/wp-content/uploads/2020/08/Iroquois-Index.png
And there is a great deal more out there about these charlatans. I'd rather stick with the devil we know and add capital markets experts who will work with the company and its shareholders and not just come in and steal the money and crush the company. I invested long time ago because of the science, so to see all of that work abandoned by Iroquois would not make me happy. The only shareholder value Iroquois brings is value to their portfolio by shorting stocks into oblivion and stealing all the company's cash, but it's a vulture fund so they are only doing what vulture funds do.
I show the float at 1,673,469,005 on OTC Markets. If that is accurate, that is certainly not a low float stock.
Great news ... ODD offers a lot of advantages. Looks like all the pieces are falling into place.
Thanks!!
Anyone know the company's cash on hand off the top of their head?
Today's PR by the company does a good job of clearing up the argument that "shorts" have been trying to use on message boards and in Seeking Alpha articles that the company is some sort of sham because of the nutraceuticals. The "shorts" seem to purposely leave out the biotech side of the house which as... we all know now... is the only side of the house that matters to $NVLX moving forward.
The company has made it clear with today's PR and by removing those products from the website... that it is strictly a biotech and only the cell encapsulation and medical marijuana need be discussed.
Any attempts in the future to try to make the nutraceuticals the focus and the logic behind an argument for shorts to try to capitalize on, can now be met with today's PR as a rebuttal to the nonsense.
I think the articles are as much educational as they are informative. I would say you're right that they are incessant, but with all the new investors taking a look and taking a position, I would say they're having an impact on getting $NVLX and its story exposure. I still see a lot of misinformation floating around out there, so the articles do a good job of keeping the complex story in perspective while others are trying to cloud the picture.
I also believe there is a method to the company's madness. Just registering the first patient in Phase 3 trials is a really big deal... and if they can do that, I think they will surpass what bigger biotechs and pharmaceuticals expected. Keeping the story out there keeps not only investors aware, but biotechs and pharmaceuticals aware as well, and I think it keeps the idea of cell encapsulation as a treatment at the forefront of a company that needs to improve its own treatments or to build biotech pipelines. Having your story out there and having it viral keeps your name on their tongues for future partnerships and potential buyouts.
So, keeping the story on the front page so to speak accomplishes both goals. 1. educates current and future investors, and 2. keeps biotechs and pharmaceuticals aware of the company and its technology. And, when they register that first patient, the story will be known by then... and they likely hope the price per share will be much more in line with the potential... bringing a much more attractive deal to the table for potential partners or buyouts which can only be good news for shareholders. IMO
I am not sure a company goes out and buys up assets if they are merely pumping and dumping. I mean the pumping, as you call it, has clearly worked and brought in a great many new investors to take a look at the company and take a position and the price per share has moved accordingly.
So with that working, why would you buy up oncology and diabetes assets... or better question why would you need to with a pump working so well? Most likely because they actually have a plan, and part of that plan is to build an audience of investors before the final piece of that plan falls into place. IMO.
I agree this is great news. Could be a big sign that Phase III trials are getting closer. There has been a lot of corporate movement lately. It's clear they've moved on from the nutraceuticals now and moved strictly toward the cell encapsulation based treatments and medical marijuana. $NVLX is solely a biotech now... so we can all put this nutraceutical talk to bed.
Today's News - http://www.marketwire.com/press-release/Nuvilex-Inc-Restructures-Corporate-Operations-to-Reflect-Biotechnology-Focus-OTCQB-NVLX-1823946.htm
How so? You can't take any article seriously that bags on the company and never even addresses what the company actually does today! When an article doesn't even bring up the cell encapsulation or the acquisition, then it's clear the article was written for a purpose or for someone (short). I can see why the guy has only 28 followers... he has no credibility.
I read that, and it's really too bad that he didn't do his homework. He never mentions the cell encapsulation or the acquisition. He doesn't make any mention whatsoever of the upcoming Phase 3 pancreatic trials.
I don't know how the company can be worth zero when it just purchased assets that it can turn around and sell. He clearly hasn't invested in biotechs before and has no concept of how they are valued. Biotechs... especially smaller biotechs are valued by the potential in their pipeline. So, I am sure if the company can get into Phase III trials, $NVLX is worth much more than .15, .16, .17 etc.
That Seeking Alpha article was nothing more than reading a post on this board of a short who hasn't done his homework.