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which part?
You are right. Not a huge deal if it's a little late.
With all of the SEC rules/regulations, I'm not sure when they can officially log the Jeep revenue into their financials, so I've been conservatively guesstimating at least 2 months and hoping for the full 3 months. Since it is a milestone, I'm expecting a PR to precede the financials. The Jeep Store averaged $2+M in the 1st Quarter of the last 8 years, so my guess is that they can do a similar number in the 4th quarter.
The website was updated, under "Properties". 3 (Rusty Ridge, Deer Harbour, Hodderville) are listed in the pull down menu instead of 6. I think Handcamp and the 2 New Mexico properties have been removed. If you just click on the Properties tab, it takes you to a page that hasn't been updated (still has "BVIG" and no mention of Hodderville).
http://katexploration.com/index.php
Since Stead mentioned "milestones" in the Sept PR, it would be nice to see a significant update on Hodderville as well as some of the others.
Yep, that is why it goes to GM. Suspension lasts 10 trading days, hence it is moved to GM.
I've actually seen filings that were published on OTC Markets during the weekend. Most of the time they are filed before the date, if the company is trying to remain compliant. IMO, no reason for Stead to not publish them on time.
It's headed to the Grey Market. A securities lawyer explained why in her blog under "Post Trading Suspension Trading":
https://www.securitieslawyer101.com/2014/sec-trading-suspensions-101/
They should be due by the 28th or earlier.
OTC Markets says financials are due within 90 days of the end of the fiscal year.
Dec(31 days)+Jan(31 days)+Feb 28(28 days)=90 days
10-K should be due on 2/28, 90 days after end of fiscal year (11/30). Could come earlier than that since that date falls on a Sunday. Should include some revenue from the Jeep store.
Additional info about SEC suspensions from a securities lawyer (not to be confused with a SEC halt):
https://www.securitieslawyer101.com/2014/sec-trading-suspensions-101/
That's a risk you have to evaluate for your personal portfolio. For now, I'm just watching daily and evaluating from a trading standpoint. As I said before - the stock is tradable, but Kuni hasn't given me any indication from his history that this stock is a worthwhile hold.
One thing that I noticed is that the North Spring shareholders are a bit pissed b/c that company did a 1 for 8000 R/S last October as part of a restructuring plan to relist on a better exchange than the pinkies. I'm surprised that Kuni didn't try to do a R/S when he was (trying) to restructure PIHN.
I agree. Insiders increasing their positions is usually a good sign. Hopefully the quiet period ends soon.
To be fair, we don't know the terms in which the O/S was increased by 44M so we don't know the dollar amount. Not sure if it was just converted debt, shares essentially dumped, or went to a private investor. I was just wondering if a bulk of that 44M went to Frenkel.
Andy is still waiting on that "obscene offer".
http://www.gazette.net/stories/02082011/businew192334_32552.php
You forgot one...
4) Previous history with Andy w/respect to optimistic FDA clearance teases and seeing history starting to repeat itself.
Ahh, thanks.
I didn't bother to attempt to email them. I had done it enough (for my liking) from late 2014 and early 2015 trying to prod them to release public info.
How did you link the two companies?
I don't believe in such a random coincidence.
At this time, there is nothing to make me believe Kuni is going to achieve anything in mining exploration and (especially) production. IMO, stock may be tradable and not much more.
According to that filing, the O/S is around 896.4M. It was 852.3M on Aug 18.
FWIW - their website is active, and says it's under construction.
http://www.polaris-int.com/
FYI: Here is the PDF of the 2007 Admin Proceeding before the Securities Commissioner of Maryland
http://www.oag.state.md.us/Securities/Actions/2007/BioElectronicsCO_9_07.pdf
Reference: Maryland Securities Act
http://www.usinvestorlaw.com/state-securities-law/Maryland.php
If anything, FDA should've formally come out and said that CBD couldn't be an ingredient in dietary supplements back in early to mid 2014. They do move slowly at times.
Their reasoning for not wanting to have CBD labeled as both a drug and a dietary supplement makes sense. A company can't say or suggest in marketing that a dietary supplement is a cure or treatment for a disease. That is the main selling point. That makes it a drug.
Several companies took the initiative to conduct clinical trials with CBD and are still in the process of testing. They may have a better understanding on how FDA works than most of the others. Unfortunately, with their group of advisers, Inergetics wasn't one of them. James and Kras gambled twice now (Martha and Nulief) and lost.
A portable, PEMF device have been available in the US market for awhile now. The one I looked at has national coverage by private insurance and "is also eligible for Flex & HSA". Others may vary.
Pure speculation on my part, but I think the failure to file reports is something brewing that is SEC-related. The company had 3 consecutive notices of late filings last year on their 10-K and 10-Qs, plus they just stopped filing their reports. That had to raise some red flags at the SEC if some weren't raised already. As I've learned the last few days, the SEC is still paying attention to the financials of nanocap stocks.
Correct me if I'm wrong, but don't they have to file Form 15-12G (notice of suspension of duty to file reports) since they were an SEC reporting company? I don't see any filings in the last 5 months on the SEC website. I don't believe they can just stop filing without announcing it.
They actually have to do multiple studies to prove both safety and efficacy. That company has to go through the FDA drug approval process to prove safety and efficacy of the drug.
http://www.fda.gov/ForPatients/Approvals/Drugs/ucm405382.htm
In the case of the company that was named by the FDA in the warning letters (not going to say b/c it could be considered offtopic), they applied for "orphan drug" status for the treatment of a rare disease where adequate drugs for treatment have not been developed. A rare disease generally affects less than 200,000 people. Awhile ago, Congress passed the Orphan Drug Act which basically was created to push for the development of drugs for rare diseases. If a company is granted orphan drug status, and is first to gain approval for treatment for a rare disease, it gains "exclusive" rights and FDA may not approve another drug for treatment of that specific disease for 7 years.
More info on exclusivity and the different types.
http://www.fda.gov/downloads/Drugs/DevelopmentApprovalProcess/SmallBusinessAssistance/UCM447307.pdf
Orphan Drug Act
http://www.fda.gov/ForIndustry/DevelopingProductsforRareDiseasesConditions/HowtoapplyforOrphanProductDesignation/ucm364750.htm
FDA just issued a handful of warning letters to marketers of CBD products as dietary supplements. They aren't willing to classify CBD as both a new drug and a dietary supplement ingredient.
As it was speculated by some last year, this may be a key reason why Inergetics dropped Nulief.
Their inability to file financials on time may be a whole other matter.
Key paragraph:
You can access the document here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=120358643
This is why there has been selling the last couple of days.
We won't know what the penalties for all involved in the filing until sometime within this year when there is a ruling. It is all speculation otherwise. The penalty could be as little as a fine and a more formal final warning, or it could be as severe as the SEC barring some of those individuals listed in the filing from taking part in a publicly-traded stock in the future.
The SEC could suspend the trading of BIEL at any time if it finds that the company is continuing to violate any securities laws from now on. That is bad for all involved, including current shareholders. There won't be an additional warning. This case is the warning. The filing shows that BIEL is in the crosshairs of the SEC. The way that BIEL avoids such an act is if they make sure they don't violate any securities laws in the future.
If you want to hold onto your shares (or buy more) and think BIEL will be OK in the future, that certainly is your right. However, you should realize that it becomes even more risky with this filing.
Certainly your right to do so, and it's the risk you're willing to take.
The fact that this may now be the 3rd instance in the last 9+ years where they tried to find away around the law, only to get caught, makes me think I'll sit this one out and just watch things unfold whether it's good or bad for long term investors.
IMO, no.
Fines could be owed.
I assume most of parties named in the litigation would like continue to operate in some fashion. SEC could make it harder or impossible for a given amount of time. SEC could bar Andy from interacting with any other publicly-traded companies in the future too (such as a consultant).
If he gets suspended/barred from interacting with penny stocks before an FDA decision, that makes things interesting and possibly bad for BIEL retail investors.
I'm now curious on whether or not the 2015 financials will be filed on time at the end of March. If not, then the speculation begins.
I'm not saying it has to be at 2B, it just has to be substantially higher than the fully diluted O/S. I'm not sure why he left it that high.
SEC specifically addresses these topics on pages 3 and 4 of their investor bulletin.
https://www.sec.gov/investor/alerts/tradingsuspensions.pdf
Yes - you, seven up, and others may be right this time (in this subject matter).
Keep in mind that if the Whelans are making any transactions from here on out in which the SEC questions, the SEC can and will suspend the stock at any time they wish now that they've (essentially) given notice. The company will have to tread lightly from here on out.
In the interest of not misleading and being fair - those who said a suspension can occur with the individuals involved may be correct.
If you can find an example where I am wrong, I welcome the info.
I don't know the severity of the penalties this time around. I think it's interesting that SEC cited the 2007 settlement with Maryland where the company agreed to a permanent cease and desist along with a minor fine. That could be seen as their warning. The upcoming ruling may come down with harsher penalties.
As someone else said in an earlier post, penny stocks are risky. Having an SEC cloud makes them riskier. Those who wish to continue holding/buying the stock should know the additional risks involved and make better-informed decisions with their own money.
They have an earnings call on Thursday at 9AM EST. Maybe someone will call in with a question about updating the status during the Q&A portion at the end.
Shire would have to gain the majority of shareholder approval or perform a hostile takeover. I like to believe that Maza has ensured himself the majority vote. A massively high A/S is insurance against a hostile takeover b/c they could heavily dilute the stock to drop everyone's position percentage and effectively kill that attempt. I've seen a much bigger company lay that threat out there.
What you are referring to is known as a penny stock bar:
I'm just trying to make sure people know the difference b/c if they look up the wrong term, they will not have the right info. Some seem to believe that if BIEL is suspended, it's no big deal. That is not the case at all. I don't know if the stock will or won't be, I just know it is an option that SEC wants to consider.
I was watching this stock to see if it finally got FDA clearance, and now I'm also watching to see how the SEC situation plays out.
There seems to be confusion with terminology.
Trade halts can last for hours. When the halt expires, then the stock trades "normally" on whatever exchange it is on.
https://www.sec.gov/answers/tradinghalt.htm
SEC trade suspensions can last for 10 days. Because a stock goes 4 days without public quotations during a 10 day suspension, it is moved the Grey Market.
https://www.sec.gov/answers/tradingsuspension.htm
http://www.otcmarkets.com/learn/otc101-faq
https://www.securitieslawyer101.com/2014/sec-trading-suspensions-101/
Some of those weed plays were legit businesses, who reported to the SEC, and had revenue. The one I was following was suspended because of, "questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions".
You should read the OTC Market's info on the area of suspensions (not to be confused with halts by some others on this message board):
No, I meant suspended. A handful of marijuana PS/OTC stocks were suspended by SEC in 2014. They resumed trading on the Grey Market.