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Take caution.
SEC just suspended several OTC stocks b/c they were delinquent with their SEC filings for several years. From what I gathered, NRTI never filed to remove themselves from filing requirements under the SEC, so it does face a similar risk.
For years we were told on this forum that Andy said there was a deal in the works where he'd get tens of millions of dollars after FDA OTC clearance and there would be a massive share buyback.
It has only been several months since the clearance, so I'll give Andy the benefit of the doubt that things are still in the works. If there isn't some type of announcement by the end of the year, then I'd begin to wonder if I'm holding onto this stock.
Personally, I'm going to sit on the sidelines and watch this all play out. This has always been an FDA play to me, but the share structure and debt are what keeps me away.
Now that they have closed the offering, hopefully we see this stock regain the bullish momentum.
It's not. I was referrimg to the stock mentioned in a previous post.
Fundamentals eventually pull the weed stocks back down to reality.
They said in the earning conference call that there would be no reverse split in the immediate future unless a special set of circumstances warrant it (ie. a big financing opportunity).
After they release the data, all bets are off as far as dilution and R/S goes. They will need to raise addition capital eventually to finance additional research.
Probably no significant change. He received $400k from big pharma over the years and served on various board of directors.
No imminent plan for a reverse split either, if/when approved by shareholders.
Thanks for the update.
Here's an update on part of the Bloomberg article. It mentions an SEC lawsuit against Yossef Kahlon. The court ruled in favor of the SEC back in September.
https://www.sec.gov/spotlight/microcap/complaint-kahlon-2019-09-30.pdf
Basically, it took 2 years for the SEC file a complaint against Kahlon from the time he had violated the law. It took almost 4 years for the court to rule in favor. Might be a long wait if the SEC ever files a complaint against James and crew.
I wonder who is in charge of NRTI. Maybe Israelian is about to do something with this shell.
There were glaring conflicts of interest from James since he took over, and they led to NRTI losing the rights to their products and James' other company benefiting.
I know people like to point out the poor sales from some of the Inergetics products, but I don't think they understand the piss poor job by the management to market those products. If you look at the Surgex Sports Instagram and Facebook pages, they look like a fantasy sports page, and have little marketing for the actual products. Inergetics gambled and blew money on mid to low level celebs who did very little to promote their products, while the competition took a much more effective yeoman approach with good-looking amateur models to increase product awareness. Money Inergetics used for these "celebs", the launch of Nulief, and sponsoring a surfing competition would've been better spent doing promotion at the nearby Arnold Classic as well as using their social media platforms.
None of that stuff has been updated.
Kras and Eng moved (along with NRTI's health products) to Terra Tech's subsidary, Edible Garden. You have to google their LinkedIn pages for their updated positions. The DD on the backdoor dealings between Inergetics and Terra Tech has been laid out on this board the past couple of years.
Here is an update posted on the SEC website back on Sep 30, 2016:
https://www.sec.gov/spotlight/microcap/complaint-kahlon-2019-09-30.pdf
Regarding the SEC civil suit vs Yossef Kahlon et al:
https://www.sec.gov/litigation/complaints/2012/comp22452.pdf
Basically, the court ruled in favor of the SEC.
Here is an update posted on the SEC website back on Sep 30, 2016:
https://www.sec.gov/spotlight/microcap/complaint-kahlon-2019-09-30.pdf
Basically, the court ruled in favor of the SEC.
Now what?
You're right.
Unfortunately some of the folks in Washington don't feel that way.
U.S. Representative Jared Polis of Colorado says he has introduced a marijuana bill to Congress every year since 2013 to remove it from the Controlled Substances Act and leave it to the states to legalize it.
https://www.merryjane.com/news/will-congress-end-federal-marijuana-prohibition-in-2017
Elizabeth Warren has been in favor of legalizing marijuana to help curb opioid overdose deaths. She is also trying to free up banking options for the marijuana industry.
https://www.washingtonpost.com/news/wonk/wp/2016/02/13/why-elizabeth-warren-thinks-legalizing-marijuana-could-help-end-americas-opioid-addiction-crisis/?utm_term=.ddd0cb7b0b2d
http://www.denverpost.com/2017/01/01/us-sen-warren-seeks-to-pull-pot-shops-out-of-banking-limbo/
For some reason, Americans believe that focusing on who is President will solely end out-dated laws/beliefs. It starts with your Congressional representatives. Americans need to put pressure on Congress, or remove them from office. Otherwise, the entire industry will suffer.
This has been listed under PIHN for quite some time now.
What confidence do you have in Kuni to do anything in the mining world?
Who are his mining consultants? He needs experience experts to evaluate results and determine a strategy. They won't come cheap either. According to Tom Bruington (Exec VP Project Evaluation at Sandstorm Gold): out of 1000 mining prospects, only 1 becomes a profitable mine.
Why should he be fired? He's the spokesman for the admin. He is relaying the current attitude of the administration. Trump has been asked about his stance on marijuana since being elected, but he has resisted commenting on it.
Actions tend to speak louder than words. Trump's appointed members signal that they will be resistant towards recreational MJ. He's keeping Chuck Rosenberg as head of DEA. He just got Sessions appointed as AG. We all know their stances on MJ.
MJ proponents will have to hope that Epidiolex gains FDA approval, b/c that torpedoes the whole schedule 1 listing for MJ. That approval may be a double-edged sword for CBD distribution companies though.
The recent proposed bill in Congress still faces many political hurdles.
I'm expecting plenty of legal battles between states and the Fed over this subject in the coming months/years.
He has said that he doesn't like to promote OTC/penny stocks on his show.
I can see the passive-aggressive posts now...
After all this time, I'm not saying they should continue to hide any information.
Usually companies wait to announce good news during trading hours of the next trading day (or minutes/hours just before trading) not after trading hours on the weekend.
I think they should have waited to post the news on Facebook until Monday. Should have been a coordinated event with FB, Twitter, and a PR before the opening bell.
We probably won't see any tweets until Monday.
It's important to note that Stan Garnett and this marijuana policy group within the NDAA doesn't actually work for the Trump Administration. They have formed to figure out a policy regarding marijuana and seek to submit recommendations for the Trump administration, according to the Director of Policy and Governmnet Affairs at NDAA. They have said that there is no guarantee that the Administration even looks at it and takes it into consideration.
https://arizonamedicalmarijuanaclinic.com/is-this-da-group-really-advising-trump-on-cannabis/
Trump also decided to keep Chuck Rosenberg as DEA chief. That is not good news for marijuana proponents.
https://www.merryjane.com/news/chuck-rosenberg-will-stay-on-as-head-of-the-dea
Congrats to BIEL for finally getting OTC clearance.
I guess this proves that FDA isn't being swayed by big pharma and is looking at the argument and data presented.
Now we see if all of the investor speculation over the last handful of years comes to fruition (PPS price levels, share buyback, buyout, etc).
Seeing who Trump has appointed, I think the status quo will remain (at best). Rosenberg will remain the head of the DEA indefinitely. We all know about Sessions' stance, and he will likely get confirmed soon.
It's worth noting that Russia's Health Ministry said some negative things about marijuana a couple of years ago.
AMMJ and several others seem to be consolidating at the moment. I'm keeping an eye on them for the next couple of months.
Gonna need heaving buying volume to break through the resistance levels. It keeps bumping its head against the 50 DMA.
I follow about 1.5 dozen of the more popular MJ stocks. Most have a bearish trend over the past several weeks. Few have bucked that trend, but may be losing steam.
I'm sitting on the sidelines for awhile until I see some type of reversal. I don't know of any upcoming (known) catalysts for the American MJ stocks.
Float and O/S have been updated as of 1/18/17:
Outstanding Shares: 50,674,319
Float: 25,601,351
http://www.otcmarkets.com/stock/AMMJ/profile
It is a fake screencap. Read the replies under the tweet.
You're giving way too much credit to Actipatch in FDA deciding to change the classifcation for all SWT devices. If it was due to Actipatch, then FDA would've reclassified the devices a long, long time ago.
FDA decided to reclassify non-thermal shortwave devices because:
a) They were not life-sustaining, hence they are not Class III devices.
b) The heat-related safety issues listed in the original proposed rule did not apply.
c) The special controls listed in the Final Rule could provide reasonable means of satisfying any concerns. The advisory panel of doctors and scientists for the reclassification meeting several years ago felt comfortable about this which gave FDA the green light to proceed.
Of course I (figuratively) opened my big mouth.
I'm not liking what I'm seeing from the charts on several MJ stocks I'm watching, AMMJ being one of them. If support here doesn't hold, may see more of the 70's.
The article matters and (hence) is relevant because while certain messageboard posters reiterate that FDA clearance will happen soon, or has happened, that may not be the case as we are only getting 1 side of the discussion (ie. from the company). We didn't know why FDA wasn't granting clearance before the reclassification process until BIEL finally came out at told everyone that FDA wasn't buying BIEL's thermal mechanism of action argument, which BIEL apparently (finally) agreed with in the fall of 2015.
I do agree that FDA should be more transparent, but may not be permitted to do so at this time. They will tell you that they are not permitted to do so since the exchanges are confidential. From what I have gathered since I have followed BIEL over the past 9+ years, that hasn't changed. I think FDA should disclose CRLs or NSE letters after 10 business days (arbitrary number) of issuance to force companies to be more transparent.
Public rarely knows full reason FDA rejects new drugs
http://www.reuters.com/article/us-drug-approvals-fda-letters-idUSKBN0OW2NX20150616
Came across an interesting read from an "editorially independent blog from the publishers of Science Translational Medicine". Talks about the situation with drug manufacturers, but can also apply to medical device companies. It cites how the public gets one side of the argument when it comes to a company's interaction with FDA - often how the company sees things which may not be 100% accurate.
Not yet.
After being red for a good chunk of the day, several closed green and not just AMMJ.
Bit of a pullback on most of the sector. Still hugging the upper bollinger band which is a positive. I would've been more concerned if there was a 15+% pullback on most of the sector today after the bullish end to the year. Only one that I've been watching had a horrible day. May not have a better idea of the actual direction of the sector until several trading days from now. I'm watching for stocks closing below key support levels, or bouncing off of them.
FDA had the devices labeled as Class III diathermy for all other uses. BIEL tried to argue that the devices had a thermal mechanism of action. FDA was never convinced the MoA was thermal for Actipatch.
That's the same guy who said the DEA would reclassify marijuana to Schedule II on Aug 1.
http://www.smobserved.com/story/2016/06/18/news/us-govt-will-legalize-marijuana-on-august-1/1484.html
Keep an eye on $CTRV
PPS: $2.00
Mkt Cap: $ 119,889,750
O/S: 59,944,875
~Bollinger Bands are tight
Chart:
http://stockcharts.com/h-sc/ui?s=CTRV&p=D&b=5&g=0&id=p71510518867
~Expecting final data for CMX157 Head-to-Head Phase 2a Clinical Study in Hepatitis B Patients by end of 2016.
http://ir.contravir.com/2016-10-17-CMX157-Advances-Head-to-Head-Phase-2a-Clinical-Study-in-Hepatitis-B-Patients-with-Favorable-Recommendation-from-DSMB
http://ir.contravir.com/2016-10-13-CMX157-Demonstrates-99-Viral-Load-Reduction-in-Ongoing-Head-to-Head-Phase-2a-Clinical-Study-Vs-Viread-in-Hepatitis-B-Patients
~Interim data was very positive
http://ir.contravir.com/2016-10-13-CMX157-Demonstrates-99-Viral-Load-Reduction-in-Ongoing-Head-to-Head-Phase-2a-Clinical-Study-Vs-Viread-in-Hepatitis-B-Patients
Keep an eye on $CTRV
~Expecting final data for Head-to-Head Phase 2a Clinical Study in Hepatitis B Patients by end of 2016 for CMX157.
http://ir.contravir.com/2016-10-17-CMX157-Advances-Head-to-Head-Phase-2a-Clinical-Study-in-Hepatitis-B-Patients-with-Favorable-Recommendation-from-DSMB
http://ir.contravir.com/2016-10-13-CMX157-Demonstrates-99-Viral-Load-Reduction-in-Ongoing-Head-to-Head-Phase-2a-Clinical-Study-Vs-Viread-in-Hepatitis-B-Patients
~Interim data was very positive
http://ir.contravir.com/2016-10-13-CMX157-Demonstrates-99-Viral-Load-Reduction-in-Ongoing-Head-to-Head-Phase-2a-Clinical-Study-Vs-Viread-in-Hepatitis-B-Patients
Chart:
http://stockcharts.com/h-sc/ui?s=CTRV&p=D&b=5&g=0&id=p71510518867
Awhile back he said he didn't like the idea of shorting the MJ stocks b/c of their volatility and unpredictability. He's probably just flipping them up until election day.
Problem with FB is that some companies(not necessarily BIEL) will delete negative comments. A more neutral setting may give a better picture.
Any alternative forms of pain treatment will be competition for Actipatch, esp when the discussion shifts towards curbing opioid addiction. The aforementioned method has already gained traction in various states. I just don't want to go too deep into the details of other alternative treatment because it will then stray offtopic.
Ah, I see. Even then, that was a(pproximately) 4 year window at the cheaper pricing with substantial funds for marketing for 3 of those years.
Caerus Corp bought them out in Feb 2016, so we'll see how that changes things. It takes time to integrate things and they may or may not keep the human line going. The lack of sales will bring that price down, in addition to cost reduction measures.
$29 ActiPatch is a relative bargain, but I have the belief that cannabis products will end up being the primary alternative treatment for pain in the US, esp with more states legalizing it as time passes. Edibles will be an even cheaper alternative that will appeal to the senses.
DB's link is for the brace and 10 pods. I wonder why there is such a huge difference in pricing. Originally it was $250 back in 2011.
http://minnesota.cbslocal.com/2011/03/30/high-tech-knee-therapy-reduces-swelling-pain/
I doubt the 5 extra pods make up that $400+ difference. Plus, they got $2.4M in angel financing to promote the product the next year.
Basically (IMO) it becomes clearer as to why FDA was hesitant to categorize ActiPatch as an IMJ (Class II) deep heating device back in 2011. There were 3 devices (including Actiband) that had similar power outputs and were considered ILX devices. If all of BIEL's clinical study designs (at that time) were similar to what was cited in the Czyz report, then I can see why they wanted more data. Members of the advisory panel criticized aspects of that clinical trial design. According to Dr. Chiacchierini (who supports SWT), there were critical design flaws.
I'm curious as to what FDA's side of the current argument is w/ respect to BIEL seeking OTC clearance in addition to satisfying the special controls.