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A tax write off.
That explains what is going on. Company's assets are being sold and then CADY will be closed. There will be nothing left for common holders except a tax write-off. I like the GPS systems but company didn't have viable revenue model. Hopefully a purchaser will know how to sell ads.
DATE CERTAIN M&A OF DIGITAL CADDIES INC.
Gerbsman Partners (http://www.gerbsmanpartners.com) has been retained by Venture Lending & Leasing VI, Inc. and Venture Lending & Leasing VII, Inc. (together “WTI”), the senior secured lender to Digital Caddies, Inc., (“Digital Caddies”) to solicit interest for the acquisition of all or substantially all of Digtial Caddies’s assets, including its Intellectual Property (“IP”), in whole or in part (collectively, the “Digital Caddies Assets”) http://www.digitalcaddies.net . Please be advised that the Digital Caddies Assets are being offered for sale pursuant to Section 9-610 of the Uniform Commercial Code. Purchasers of the Digital Caddies Assets will receive all of Digital Caddies’s right, title, and interest in the purchased portion of WTI’s collateral, which consists of substantially all of Digital Caddies assets, as provided in the Uniform Commercial Code.
The sale is being conducted with the cooperation of WTI and Digital Caddies. Digital Caddies has advised WTI that it will use its best efforts to make its employees available to assist purchasers with due diligence and assist with a prompt and efficient transition at mutually convenient time.
Very disappointing sales in Q1 - ESSI was doing $500k on its own. What happened to other sales?
Herzog is lawyer and liar. He knows how to stiff arm people and lie with impunity. Sohail's friends lost a bunch of money because of their fantastical stories.
Wait for it ---- a new offering to price soon. Seen this movie before. Look at the chart for two years.
Pink sheets are "caveat emptor".
How long before BGMO shares are expunged? As many of us figured out, Herzog was just a big fat liar and BGMO had no assets/revenues, just a CEO and CFO who spun fanciful tales of deals that could never happen. What an odd case. In most countries, Herzog and Parehk would be in jail.
Hasn't QASP gasped its last breath yet. Apparently not. Who remembers Mineseeker? Dean Bradley? Anyway, real opportunity with Massroots - MSRT unlike qasp the company that finds creative ways to move money from you to Canouse. Honestly, this is too funny.
How many users on are the platform? I like how stock is trading.
Who knows anything about the lead investor? A hedge fund run by Konrad Ackerman named Alpha Capital Anstalt AG in Liechtenstein bought all of the 2014 stock offerings based on SEC filings (13G) by company. By now AC should have 25% ownership or more. Who are they and what do they know? Could be smart money or just a conduit for fast placements.
Company forgot to have a shareholder meeting in 2014 and got wrist slapped. Not making that mistake again - they filed 2015 meeting already. I think the CEO and CFO are siblings. Stock price holding up well even through Mom (Carla) selling shares daily for cash. Could be over $1.00 if there wasn't so much insider selling. What happened to fund that bought all the shares - not mentioned in proxy as 5% holder?
Proxy filed Friday says Carla made 36 sales in 2014 that were not reported to SEC, a violation of reporting requirements. Stock price holding up well given steady insider selling.
"focused in the emerging markets" -- Is this good? Developed countries have a lot more money and interest in waste treatment. Many solar/wind/biomass companies have found the emerging markets opportunities to get jerked around without getting projects built.
What company you talking about -- Mangagas had big losses on almost no revenue.
What happened? Dropped like a stone yesterday.
No Christmas celebrations for Herzog and partners-in-crime, Sohail and Gary. They are forever on Santa's naughty list (and don't celebrate xmas anyways).
The Bergamo fraud persists here as a faint memory, despite lack of any corporate functioning, no filings, no communications, lapse of all registrations, abandonment of responsibility by officers/directors, failure to respond to court orders/judgments, etc. , and obviously, no assets or revenues.
Most of us figured out years ago that BGMO was a non-operating shell of burned out garment importer promoted endlessly by Herzog, Purdon and Parekh as somehow being gifted with massive investment from unidentified sources to make massive investments into firms like VSTA, Greensafe Demanufacturing, Suntrough, Pakistani coal plant, green coal mine in Indonesia, Indian solar projects, etc. Following BGMO has taught me about many versions of bank paper fraud -- fake Standby Letters of Credit, fake cash-backed deposits, fake deposit papers, fake banks issuing worthless guarantees and LOCs, fake high yield investing schemes, et al. Herzog was a clearing house for frauds. He and Sohail took the frauds to new level filing phony and highly misleading financial statements with OTC Markets.
Xmas cheers to my friends, vigilant elves who make sure BGMO and its perpetrators aren't scamming others as they tried for years to limited success.
How is VSTA going to fund the Phase 2 study? Didn't they just terminate engagement of a specialist biotech investment banker and withdrew S-1 filing. That indicates they've been knocking on many doors of knowledgeable pharma investors and came out empty handed. Is Platinum the only funder now -- they don't have much favorable track record on their pharma investments, do they?
Of course, a new anti-depressant drug would be huge -- look at what Lexapro did for Forest Labs.
Withdrawal of Registration Statement on Form S-1
Ladies and Gentlemen,
Pursuant to Rule 477 promulgated under the Securities Act of 1933, as amended (the “Securities Act”), VistaGen Therapeutics, Inc. (the “Registrant”) hereby requests that the Securities and Exchange Commission (the “Commission”) consent to the withdrawal, effective as of the date hereof or at the earliest practicable date hereafter, of its Registration Statement on Form S-1 (File No. 333-195901), together with all exhibits and amendments thereto (collectively, the “Registration Statement”). The Registration Statement was originally filed with the Commission on May 12, 2014 and declared effective on August 7, 2014. The Registrant is submitting this request for withdrawal because on December 4, 2014, the Registrant terminated the engagement letter agreement, dated August 6, 2014, by and between the Registrant and Geller Biopharm, a division of Financial West Group (“Geller”), with respect to the Registrant’s engagement of Geller to consummate the registered public offering of its common stock and warrants contemplated by the Registration Statement.
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At least Shawn was trying to sell shares through a real broker, instead of making announcements about fake sale of stock an obvious bogus entity. So, when do they close down the company?
Why is this stock steadily falling -- seems to have decent story?
VSTA is stuck with lead-investor Platinum and, who is of little help in bio/pharma world, while Hurel with similar technology for stem cell assay attracts A-List investors:
Hurel Corporation Completes Investment from Johnston Associates, Inc.
Biotech investment veteran Robert F. Johnston joins Hurel investor group
NORTH BRUNSWICK, NJ -- SEPTEMBER 24, 2014
Hurel Corporation ("Hurel"), a world-leading provider of in vitro liver models and microfluidic assay platforms that improve the predictive reliability of pre-clinical drug development, today announced that Johnston Associates, Inc. of Princeton, New Jersey ("JAI") has become a participating investor in the Company's Series A-3 Preferred Stock financing. Hurel's lead private equity investor, Spring Mountain Capital, LP, of New York, led the A-3 round.
Organized in 1968 by Robert F. Johnston, JAI provides venture capital to early-stage companies in the biotechnology and healthcare fields. Mr. Johnston has founded such public companies as Sepracor, Cytogen (acquired by EUSA Pharma), I-STAT (acquired by Abbott), Genex, and Envirogen (sold to Shaw Environmental); and he was instrumental in the early formation of many private companies such as Immunicon (sold to J&J), Praelux (sold to Amersham/GE), and Targent (sold to Spectrum Pharmaceuticals). Mr. Johnston served as CEO of Cytogen from July 1988 to April 1989 and as CEO of Praelux (formerly SEQ) from November 1997 to January 1999. Additionally, he is a member of the Advisory Council of the department of molecular biology at Princeton University, and the Executive Committee of the Friends of the Institute for Advanced Study in Princeton, New Jersey.
VSTA shareholders have little to celebrate, as management keeps finding just enough cash each quarter to allow this comatose company to stay alive. Share price is surprisingly high given the mountain of debts to Platinum and payables. While not impossible, it's a pretty unlikely that some investor will rescue this company, that has found little to no commercial interest in its inventions.
At least Shawn put his own money plus time and reputation into this -- a sign of commitment (or that he should be committed). This was always a risky start-up trying to find use for stem cells in drug discovery. Many start-ups fail. Will this drag on a few more years or will they take this behind the barn and shoot it? Companies running on fumes don't have enough money for a decent burial. If Platinum was a VC it would have merged this into something else and moved on -- but they are a bunch of overpaid young money manipulators with a lot to learn about venture and business.
I can only wonder what delusions Shawn, the Board and especially Platinum have for them to keep pretending Bergamo Acquisition Corp and its sociopathic liar CEO Hillard Herzog are a bona fide source of capital. Every aspect of BGMO screams scam -- terms of investment way too good to be true, little to no due diligence, no experience whatsoever in pharma, shell company with no audits or identifiable business, management's long history of announcing investments and deals that never happen, association with penny stock artists, crooks and conmen, SEC injunction, grey market shares, etc. Shawn, Platinum and the Board have made asses of themselves with this folly.
One year after SEC slammed BGMO into grey market, shares are $0.0001 -- and still over valued. The passage of time has proven beyond doubt what many of us knew years ago -- BGMO is an outright scam run by a sociopathic habitual liar and his corrupt sidekick. It is rare to find people who go to such lengths to concoct false stories to misleading people, including their friends. They have failed in every possible way to act responsibly or fulfill their fiduciary and legal responsibilities. It's been entertaining and educational for the past few years, but time to bid adieu.
Bid / Ask spread is gaping. Lucky shareholder got real cash for practically worthless illiquid shares. Smart move. Market maker (or Platinum) vainly printed trades at the "Offer" to hide what real investors will pay. 25.5 cent bid is still a great price, given the lack of assets, revenues, cash plus growing mountain of debt and payables.
Why -- Dean didn't get his kickback. I remember the videos of SKN claiming to make bankers obsolete. Just one of the many colourful characters I learned about because of BGMO.
Where are they now:
Dustin Lewis is still auditing companies at LL Bradford despite aiding and abetting the BGMO Fraud.
Cases against Herzog's friend, Robert Fowler by Attorney General and SEC are winding their way through court after his arrrest in May 2013.
Gary Purdon has dropped from sight after getting fired as director of Vancouver penny stock and removed his Linkedin page claiming to be "Bergamo Investor".
Asif Ansari is CEO of Morgan Solar.
I can use some help on this. The cast of characters is long.
Peter Swire? Hal Wolfe? Mark Outi? Vivek Sinha and Shannon K. Newby of eSoft Informatics.
Any news of the dynamic duo - Hillard Herzog and Sohail Parekh?
What can a shareholder infer from this agreement by Platinum to convert Secured Notes in the event of Qualified Financing by August 31st? Is there any chance a QF occurs? Obviously, this is not a big concession from Platinum, since any new investor will recap the company and crush existing holders -- agreeing to convert to common would be just the first step of a negotiation. More plausibly, company will get taken over which would wipe out common. Not a chance BGMO magically appears with $36 mm they promised without doing a lick of due diligence, since BGMO was slammed into the ground by SEC a year ago and has gone silent (as in dead).
VSTA's value is the IP -- since there are no commercial operations or revenue. IP in stem cell assay have value to some players, but not huge, given changes in patent enforcement.
A few letters to SEC wizened them up. Dusty was quite the tool (surprised he is still working there) -- Herzog manipulated him to provide compilation and write that stupid letter "verifying" what was written in the NWI investment agreement -- which triggered the last hurrah of claims that an accountant had verified BGMO. These con artists worked hard to present "written papers" on their worthless scams, and even got store-front lawyer Seeberger to give opinion to OTC Markets despite gaping holes in BGMO's compliance (like unreported massive issuance to insiders, failure to maintain books and records, failure to hold shareholders meetings, failure to maintain corporate registration, etc.). Too bad Herzog wasn't able to use his skills in a constructive way.
Sorry for the painful lesson you got -- at least you called BGMO for what it is -- a scam, rather than trying to foist it onto someone else.
I too was fooled in 2009 briefly -- but became suspicious when I couldn't find anything on LondonWall and the terms they offered were not how real power plants are funded. I became more suspicious when the eSoft Infomatics closings didn't happen, but company gave no explanation, and the fairy-tale financing with no due diligence offered to Greensafe and Suntrough. By mid- 2010, when Herzog was in full-scale dumping through ICG, I concluded this was outright fraud and set myself to preventing others from being fooled. It's been a duty I've gladly borne -- bad people need to be stood up to, otherwise our markets will stop working. Too bad, this is just one small scam in a giant cesspool of penny stocks.
Did Shawn give up? No news or real information -- SEC reports and IR repeat old stuff. No cash, no assets, no revenue no identifiable commercial activity and huge debt/payables (I'm not making this up - check the last 10Q). No wonder share trading has gone from infrequent to practically never.
Certainly clear to me and you --- but the pitch was about the next deal or something about to happen. I have no idea what excuses they made about the 100% failure to deliver on every past deal and lack of any real corporate operation. HH was good has waiving around "signed documents". In some cases, the shares were sold way below current price --say 50% of market, giving the buyer lure of instant paper profits. There were red flags everywhere, but from what I see on American Greed, people are often willfully blind to the obvious.
Sohail sold private placements of common shares to Pakistanis in USA and abroad. Given that the company was a complete pack of lies and the cash was used to support Hillard and Sohail's lifestyles and travels, he's got some explaining to do. One person wondered why Sohail refused to travel to Pakistan. Conning your close friends into buying worthless stock could be the reason.
Herzog is an accomplished utterly amoral liar was always in sales mode and never took responsibility for anything he said (his word was worthless). I am not surprised naive people were suckered into this. Asif Ansari, Peter Swire, Shawn Singh and Rahi were fooled (of course it's easy to be "fooled" when you desperately need money and have no alternatives).
You tell'em brother. I'm amazed at how the cycle continues despite well documented past.
Private placement (PIPEs) shares often restricted (i.e., not registered) for a period of time. These shares were done at half the market price.
Info was posted a few years ago showing details on several issuances. The $150k was to Chicago investor and also there were large issuances of shares/options to Herzog, Parekh and their wives. I'll try digging up the details. All this is moot now, as BGMO is dead. Many people make bad investments. The crime is the unending false and misleading info dished out by Herzog, while failing to provide any meaningful info on the company and its real operations.
Some Pakistanis bought unregistered BGMO shares from the company, such as one fellow in Chicago. The shares were sold below market price, but couldn't be traded.
You've posted this before, but I don't believe it's authentic. Just another meaningless diversion from BGMO's collapse. due to gross negligence and willful misconduct of sociopathic liar Herzog. Shareholders of BGMO, especially Parekh's friends, got shafted by these conmen.
Amazing, U.S. pharmaceutical industry pumped more than $51 billion into research and development and not one sou went to VSTA -- what does that tell us?
Thanks Rahi -- Your experience with Herzog/Parekh is evidence of what awful businessmen and people they are. They treated you horridly - feeding you lies and disinformation, while using your vision to pump the BGMO shares. Your efforts to seek justice may have led to SEC actions that closed down the trading. Only 1,000 shares changed hands in June -- so for all intensive purposes, BGMO is over. A few of us still keep an eye on things, to make sure everyone knows how these conmen work.
Odd how VSTA shares hang out there day after day with 23 cent spread -- offer is +50% to bid. Can anyone report the level 2 info?
Shares trade by appointment -- days, weeks go by with little or no action. I am wondering how many individuals are still in this. The market valuation appears disconnected to underlying fundamentals, given the mounting pile of debts/payables, continuing losses, lack of apparent activity, no revenue, etc. Yet, Platinum keeps funding. Nice to have a rich patron, who doesn't want to mark down its position.
VSTA had an exciting technology and raised over $50 mm from various sources. Growing organ surrogates from stem cells was a worthwhile venture with potential. Unfortunately for VSTA, pharma found other ways to assay drug candidates that didn't require them to use VSTA's products, and VSTA wasn't skillful enough to find other business opportunities for IP. Over time, talent departed and opportunities dried up.
The last few years, VSTA has slipped into a walking dead vegetative state -- with Singh, Platinum and Singh's old fund too invested to quit. Singh is not telling shareholders how the company is addressing its situation -- just repeated the same old mantra. The board should be roundly criticized since its abrogating responsibility to all the shareholders by allowing Platinum and Singh to maintain a status quo.
While this is working out poorly for VSTA shareholders, to my knowledge the company does disclose enough to shareholders so they have information. Bad management and poor decisions aren't against the law.
On the other hand, BGMO was a fraud run by a sociopathic liar who unblinkingly foisted hugely false stories of investment, profits, financing deals to anyone who listened while Vancouver cronies dumped shares. The company knowingly filed financial statements invented out of thin air containing blatantly false and misleading information.