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Other American cannabis companies have grown A LOT over the last few years though.
Not a big deal at the moment. 5 more trading days at/above $1 and they will meet the requirement to continue listing on Nasdaq.
No. Stock is in the grey market which is basically death. Eventually, the ticker symbol will cease to exist. Years ago, the former leadership quietly moved the company's products to Terra Tech and left the NRTI shareholder holding the bag.
I'm not sure what, if any, legal options investors may have.
I'll warn you guys just as I warned others. One thing that puts a company in the SEC crosshairs is one that is delinquent in filing financials and has drastic positive price movements. Trade with caution here.
The suspension was not a surprise. SEC reporting companies can't just stop reporting. Maza just left shareholders out to dry.
Could see some added momentum when they finalize the Canna Farms deal. Supposed to be done in August.
...or not. Everything back to normal for my account. Ticker symbol didn't change.
Same problem with Etrade. We will have to wait for the name change to finalize.
Financiers from the last few months are unloading some of their positions.
First thing that needs to happen for any current shareholders is filing of the financials. This was an SEC-reporting company before they went dark. Every day that passes is a day closer to the SEC suspending the stock and it getting moved to the Grey Market.
You have to call your broker to unload the shares as worthless stock for your next tax return.
Better late than never.
I saw his name attached to a different company's PR, so I revisited this one. Saw the late financials. Someone may have to dig through the financials of other stocks he's affiliated with to make sure that they didn't obtain the rights to ILNS IP. That kind of backdoor deal does happen, esp when a company goes dark.
I will warn you guys, just as I warned those in another stock I used to follow before it was suspended.
ILNS is a company that files with the SEC. They haven't filed any financials since the middle of 2016. In order to stop filing with the SEC, they have to file with the SEC stating as much (I forget which form). Then, they can head to the Pink Sheets.
If you are unable to contact anyone from the company to find out when they will become current, then I'd be very concerned.
Failure to file with the SEC over the course of time will result in the SEC suspending the stock, where it will head to the Grey Sheets after 10 trading days. Over the long term, that is usually bad for anyone still holding a position with the company. It is difficult for companies to get off of the Grey Sheets, and can be a very lengthy process. You may want to contact your brokers for more information about stocks on the Grey Sheets.
Volume was pretty low with a lot of support at $1.04. The week is still looking OK after the gap up open at $1.10 on Tuesday morning. I'm still watching to see if the week ends between $1.04 and $1.08. Main thing I'm concerned with is the overall trend and volume.
Not just messageboards, everywhere basically. There's this thing called, "Google" that allows you to find this information for yourself. But OTC traders/investors are the "idiots".
Not really my personal definition. Terminology that I've noticed over the years of visiting messageboards, social media, etc. Read Sheff's intro.
I won't insult people by calling them an idiot. I see that as childish. Don't mistake my use of your nomenclature in quotes as me agreeing to the use of the word. I was being a little facetious. I will just say that not having a plan and being greedy is not wise regardless of where you put your money.
There are many traders mostly deal with OTC stocks and make a lot of money. Hell, Sheff has made a lot money in OTC sector in his early years. I'd say he's a pretty smart guy. I've seen major pharmaceutical companies partner with OTC companies. They see some of these OTC companies as engines for portfolio growth.
OTC stocks are just considered to be higher risk. I've seen stocks move from the OTC sector to the major exchanges because they had good management and a solid product/portfolio. They contain more scams than major exchanges, but that doesn't mean they are all scams. That type of generalization is like saying all stocks on major exchanges are safe and aren't scamming people.
Tiers matter to a degree. It is important to know if a company does report to the SEC or not, as NRTI investors have found out. Companies that report to the SEC do receive more attention from accredited investors and have the potential to receive less toxic financing. That is usually not the case with Pink Sheet stocks.
Your apples to oranges comparison of slots vs stocks really doesn't apply. I just gave you examples where understanding catalysts can be beneficial regardless of the exchange a stock is on. I'll go out on a limb and say most people wouldn't consider someone an "idiot" if they can walk away with substantial returns on a trade. If you can divorce emotion from your decisions and rely on analysis, then you should be able to make money regardless of the exchange.
Trading is short term. An actual investment is deemed more long term.
A lot of "idiots" made a lot of money from trading the weed stocks several years ago and the 2nd half of last year. The smart ones didn't invest in them.
A lot of "idiots" made a lot of money from trading bitcoin stocks several weeks ago. The smart ones didn't invest in them.
Pink sheet stocks are OTC, but OTC stocks aren't necessarily Pink Sheets. OTC stocks also include those that report to the SEC, are subject to more stringent reporting requirements, but are not on a major exchange. Pink sheets aren't subject to as many SEC requirements.
Charts can be very useful and it's true they aren't guaranteed. Having said that, I don't use them in a void of other information.
It's necessary to use multiple indicators. When talking about a trend, simply saying something is oversold according to RSI isn't sufficient indication that something will reverse. Same goes with overbought conditions. There are other things you have to look for in a trend reversal.
Also have to take into account fundamentals and potential catalysts.
--Several of those examples on that link reflected the recession. That was something that economists were warning about since 2007. BTW, we are due for another one in the coming years.
--If a stock is overvalued on hype with respect to its balance sheet, then a shareholder should realize that a correction will be on the horizon eventually.
--A biostock with $5M in cash while being deep in clinical studies and a high quarterly burn rate is going to have an offering eventually which may drag down the price. BLRX is in a strong cash position for awhile, so this isn't a concern for me in the near term with the stock.
Better to trade most stocks instead of invest in them, esp in the case of biostocks because of the high risk potential that clinical studies do not meet expectations. There's a chance that BLRX's clinical studies do not meet expectations. That's where the buy on rumor, sell on news comes into effect.
I've found that the biggest hurdles for many investors are having a solid plan and not being too greedy. Plus, too many have an emotional attachment to these companies.
Watching for potential reversal in the making.
Saw good volume on Friday.
Needs to break $1.10 resistance (20 DMA) and close above.
Already have the golden cross.
http://stockcharts.com/h-sc/ui?s=BLRX&p=D&b=5&g=0&id=p48881240218
You can trade OTC and Pink Sheet stocks. Just don't invest in them because the odds are on not in the favor of retail investors.
The one I'm in is conducting several therapy trials with stem cells. They are going through the proper process in order to gain approval of their therapy. As is the case with another publicly traded company I was watching earlier in the summer. There could be more, but I haven't actively watched them all. Going through clinical trials to gain approval of medical treatment is the law. FDA wants to observe studies closely in a clinically controlled environment to obtain data on both safety and efficacy. The reasons for this go back decades ago.
I believe someone on this board cited the issues with MYOCELL over the years. I think people were labeling him a basher, but he was citing serious issues that FDA is concerned with.
FDA issues warning letters to both private and public companies. Those warning letter are published on the website as public record since there is potential for public harm.
Not at all. Other stem cell companies didn't tank with the news yesterday. Several of those companies are not big pharma either.
FDA will act on any facilities that are performing unapproved medical treatment. That is part of their job.
After the suspension is lifted, the stock will open on the Grey Market. NEVER a good thing. The stock will tank. The warning signs were there from the company and OTC Markets (skull and crossbones before suspension).
Good detailed explanation here:
https://www.securitieslawyer101.com/2014/sec-trading-suspensions-101/
You were right. 1.14 is support.
It's due for a slight pullback after nice bullish movement over the past couple of weeks.
No. It's done.
This is Michael James' final F-U to the NRTI shareholders.
Stocks that head to the Grey Market are pretty much finished. There are steps the management can take to get off of the Grey Market, but this stock is pretty much a shell, so don't get your hopes up. This is pretty much a tax write-off for anyone left holding the bag. Contact your brokers about closing your position.
I tried to warn you guys back in May. Companies that report to the SEC can't just stop reporting. They have to complete the appropriate filing to go back to the Pink Sheets.
I was surprised it ran the way it did. The technicals in addition to the fundamentals were raising warning signs on Monday afternoon. The run that started on Friday and carried into Monday was a chance for people to reduce losses or pick up small gains if they wanted to. I just watched from the sidelines because the drop came as expected, I just didn't know when on Tuesday it would begin.
I've been watching biostocks for the last 2 weeks and I've seen worse drops before earnings and Clay wasn't covering them. I see people try to make him a nice scapegoat on these boards, but there is usually more to the bearish activity than what some want to admit or realize.
There are potential catalysts for the remainder of 2017, and I expect better revenue numbers. However, they burned through $9.5M in cash the last 2 quarters and had $6M in cash as of 6/30/17. They said they are trying to cut spending, but I wouldn't be surprised if they needed to raise more capital in the near future. That wasn't pretty for the stock the last time (May).
The stock is down because they missed badly on 4Q17 earnings.
That wasn't a surprise because they gave a little bit of a warning when they announced the shipping hold the on the MicroCutter back in July.
Quarterly reports for this company are due within 45 days from the end of the quarter.
Ah, I see. Thanks.
I saw another site say 2H17. It has said that for several weeks/months now. I looked through PRs, presentations, and skimmed through recent financials and couldn't find anything.
I've seen several people say they expect a PR on the interim data by end of June. Are they speculating, or was it in a PR or financials?
I would think that if SEC was going to do it based upon the infractions listed in the claim, they would have done so already.
If management is actively engaging in shady activity with the company/stock, then all bets are off.
Not sure what that compensation was based on.
Full SEC claim is here: https://www.sec.gov/litigation/complaints/2017/comp23861.pdf
It's worth noting that Forbes had a March 2014 article (Inside the Pot Stock Bubble) raising some questions about Mona's past.
For the SEC to now charge him with fraud, a few years in the making, means they've been doing their homework. SEC usually ends up winning these cases. The question is what the resulting penalty will be.
SEC Claims Fraud by Michael Mona, Jr., CEO of CBD Seller CV Sciences, and Company
https://www.newcannabisventures.com/sec-files-fraud-charges-against-michael-mona-jr-ceo-of-cbd-seller-cv-sciences-and-company/
Q2 info is out within 45 days after Q2. It is still Q2.
Actually listing the companies would be considered "offtopic" here.
You can search Twitter: @SEC_Enforcement for their May 10th tweets and the filings made by the SEC.
I would anticipate one if they want to stay on the current exchange.
Since they are on a major exchange, they may have to perform a R/S in order to meet a minimum requirement for the stock price. I believe that the minimum price to be $1 for NYSE. Relying on news to push the price over $1 and stay over is difficult to do.
The exchange will send a warning to them stating that they are no longer in compliance, and they have a certain amount of time to comply (usually 6 months). Otherwise, their stock will be delisted and demoted to OTC.