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Rooney's sentence includes watching the POSC stock chart everyday ... all day. He must alert the authorities if the price changes.
As far as I know, there are two animals in nature that flock:
birds and sheep. The last time I checked I had no wings.
On another note ... Any comments on the share buying by
Cecil O'Brate. He now owns ~25% of Positron.
I don't see this as a misprint. It's an indication of where the stock price will be if Positron doesn't sell something (anything) soon. The Board's moronic belief that a reverse split would make Positron's stock and business suddenly appear more viable to large investors is laughable. Only significant, predictable, profitable, growing sales of radiopharmaceuticals will generate interest in this stock.
I agree that a buyout is highly probable once Positron emerges as a major player in the PET market. Hopefully the M&A market is initially a little slow to recognize Positron's future value. Another point to consider is the share price. Once isotope revenues are consistently reported, adding financing for the cyclotron, your guess is as good as mine as to where the penny stock traders can take price levels. Once this stock takes off, I doubt that the momentum traders will be paying much attention to the number of outstanding shares or market cap. The stock market loves to chase stocks to euphoric levels.
Investing in this company has always revolved around its product pipeline (primarily isotopes). Regardless of Positron's slow and painful execution of its plan, their product lineup (if all comes to fruition) will be impressive within a growing PET market. They reported sales of radiopharmaceuticals in Q3 2014 (although it was only $5000 in value), and hopefully this is just the beginning.
Once Positron begins consistently reporting isotope revenues and cyclotron financing is secured, its market cap will be in the billions. If the market can value any joker with matching socks that comes up with a new "APP" at 20+ billion USD, I'm positive that Positron will be worth at least a few billion.
Reverse Split Rejected by SEC and FINRA.
Unless I have misunderstood this partial article, Positron has been denied its request for a reverse split.
Positron Loses SEC Appeal Over FINRA Daily List Ruling
By Benjamin Horney
Law360, New York (February 06, 2015, 5:26 PM ET) -- The U.S. Securities and Exchange Commission on Friday upheld a Financial Industry Regulatory Authority decision to not process and publicly announce a reverse stock split and other corporate moves made by Positron Corp., saying the company's former CEO had been the subject of a regulatory action alleging securities law violations.
The SEC upheld FINRA's decision to not process and display on its daily list the molecular imaging company's reverse stock split and the change of its corporate headquarters from Texas to Delaware. FINRA had opted not...
http://www.law360.com/articles/619355/positron-loses-sec-appeal-over-finra-daily-list-ruling
I agree with your analogy of going down with the ship. This investment is about taking a risk with the products that Positron will supposedly sell, and throwing in the towel at this point will not have a financial impact ... I considered the risk of loss when I began to invest in this penny stock.
Having worked in a variety of industries ranging from automotive to pharmaceuticals, I learned very early that the people running corporations are inherently corrupt and incompetent. Most of these clowns advance to management positions through dumb luck or nepotism. Greed drives these corporations forward and supersedes safety and product quality. Needless to say, I do not expect any corporation to respect its shareholders. The success of this investment is reliant on nothing but a lot of luck (as most are) because Positron management has proven to be very ineffective at execution.
Good luck to all shareholders!!!
Those of us that hold Positron shares have already accepted the risks. Life will not end if Positron fails to deliver.
But ... if they do deliver, there will be many shareholders with a very large financial gain (life changing in some cases). I know one thing is certain ... those that don't hold any shares are terrified at the prospect of missing out on a possible financial windfall. You have to decide if the potential reward is worth the risk.
Although I respect Patrick's vision, Positron's execution of its business plan has been less than impressive. I am speculating ... but I still believe that Patrick's reputation was severely damaged by the SEC investigation, and this has caused Positron's business partners/customers to distance themselves. Patrick may have been forced out by the Board of Directors. At this point, new leadership will be a positive for this company. We all know the growth rate projections of the nuclear medicine market ... Why has Positron still not sold any Sr-82? Is Positron's entire future reliant on one customer (Jubilant)?
Great post Robert.
In addition ... One major method of lowering exponentially increasing healthcare costs is the early detection and management of diseases. It is much less expensive to detect disease in its early stages through imaging than paying for long-term treatments. Not to mention that it obviously improves quality of life.
Sooner or later, the market will recognize the increasing importance of imaging, and Positron's role in that market (if they deliver as expected).
I have no doubt that Positron's share price will quickly increase with a positive material announcement.
And I suppose you would like to buy my shares.
Those are the facts as I understand them. Despite the rough ride, I'm still holding my shares and speculate that this SEC noise will be resolved ... allowing Positron to finally move forward.
I suggest paying closer attention to Rooney's SEC case. He is in serious jeopardy of being barred as an officer/director and is facing disgorgement fines that he can't pay.
Secondly, there have been no Sr-82 revenues. The SEC case is a primary reason why no one will conduct any business with Positron. Rooney has zero credibility. Positron may be better off with new leadership ... If they can avoid bankruptcy.
That, in addition to Q1 Sr-82 revenues, would be a very good thing.
I don't think the r/s has received FINRA approval yet.
These new requirements should clean things up a little.
Thanks for posting.
Not expecting much from the 10k.
The Q1 10Q should be more interesting with, hopefully, SR-82 revenues.
I don't think anything will be announced before Feb-18 ... Rooney's next court date.
I would have preferred a major announcement prior to the R/S.
I'm guessing someone wants the share price to be at least $1 after the reverse split, and IMO major news will follow shortly thereafter.
If not followed by major news ... it's going to be ugly.
Seems odd that short sellers would have covered their positions on Friday with an imminent reverse split. Why cover if the stock should continue to drop after the reverse split?
Hopefully there is a positive catalyst in the very near future that triggers a short squeeze.
Wether or not the long-term holders sell on a retrace depends on the significance of the news. I doubt anyone will be too eager to sell if they announce financing or Sr-82 revenues.
I'm not sure either. Time will tell.
The court still has to decide if Rooney is prohibited from acting as officer/director.
Maybe he cut a deal with the SEC ... time will tell.
I don't believe anyone on this board is implying that Sr-82 is obsolete. The major point is that Positron has thus far failed to capitalize on this incredible opportunity ("to be the leader in PET"). Nobody knows or can predict the lifecycle of any product. There is always someone out there developing something better.
If Positron doesn't get their crap into gear, they will allow other opportunistic manufacturers to establish market share. The fact is we have no idea what is in the works ... there may be some other manufacturer getting ready to launch a new facility as we speak. The Sr-82 market is not holding its breath awaiting the launch of Positron products. They essentially have nothing new to offer ... hopefully just more of it.
And let's not forget the SEC problem that remains to be resolved.
Positron's execution of their plan has been disgraceful. At this rate their products will be obsolete by the time they are introduced to the market. Technology will always advance. It's human nature.
This is my favorite part from the filing:
Because of the current low price of the Company’s Common Stock, the Company’s credibility as a viable business enterprise is negatively impacted.
It should have read like this:
Because of the Company’s credibility as a viable business enterprise, the current price of the Company's common stock is negatively impacted.
Message to the Positron Board: Focus on generating profitable revenue and the company will be recognized as a viable business enterprise. The market will take care of your share price.
Positron's goal next year remains the same ... just sell something. Even the sale of a few Positron t-shirts would boost revenue at this point.
The next SEC hearing is still set for Dec-19-13 @ 9:30am. The SEC has assigned Daniel J. Hayes to the case. Based on some quick research, he seems very experienced in these matters. My guess is that Rooney is toast and Oliverio runs the show in the new year.
The next SEC hearing is still set for Dec-19-13 @ 9:30am. The SEC has assigned Daniel J. Hayes to the case. Based on some quick research, he seems very experienced in these matters. My guess is that Rooney is toast and Oliveiro runs the show in the new year.
They haven't officially announced a date yet.
Unfortunately perception is critical. It's unlikely that anyone in the business community will have a favorable opinion of Rooney and Positron until this SEC issue is resolved. The next hearing is set for Dec-19-13. This SEC cloud has had more of a negative impact on Positron than many of us are willing to accept.
I agree.
Two possible scenarios are:
1. Conroy failed miserably in trying to launch PosiRx.
2. Or PosiRx is not a reliable machine.
Both result in no sales.
What he's accomplished in previous positions includes the people and products he worked with. Just ask Ron Johnson (Apple) how he worked out at JC Penney.
There will be no investors if Positron plans to dilute to that extent. My estimate assumes some dilution.
Positron would have to file for bankruptcy after the R/S to drive the stock down 95%. I just don't see this happening. The price may drop to the $0.35-$0.40 range, but confirmation of financing and expected revenues in Q1 2014 should boost the share price.
However ... it's all speculation.
Assuming you own shares ...
If you are half as intelligent as you perceive yourself to be, and you are a realist, and you clearly understand how the future unfolds, why the hell do you still own shares in Positron. The obvius answer is you believe there is money to be made here. Don't you?
I do understand and appreciate your point, but the latest PR was not what the market was looking for. It was more of the same with no mention of actual revenue. The PR that is most anticipated is the announcement of financing for the cyclotron, and consequently Positron's business plan. This would confirm actual dollars invested in Positron's future.
I still maintain that a R/S at the current price, resulting in a 40 cent stock, will not accomplish Positron's objective (as indicated in the R/S news release). They, including Covington, recognize that the share price must be worth dollars and not pennies for Positron to be taken seriously and the stock to be accessible to large investors.
Again ... I appreciate your comments.
I am guessing that Covington has found interested investors, and recommended the R/S as necessary before any deals are official.
Robert ... I appreciate your response, but I was simply stating that news can be released after the announcement of a reverse split (at the company's discretion and within the rule you stated).
Positron is attempting to make the share price more accessible to larger investors. Without actually increasing the fundamental value of this company (revenue growth), a R/S resulting in a share price of less than $5 will not be desirable to the big-money players. And big-money investors are what positron needs to maintain a stable and growing market cap. Without large investors supporting the stock after the R/S, I believe the price will plummet once again. When you factor in human greed and psychology, it is much more likely for the stock to jump from 0.004 to 0.05 than from 0.40 to $5 given the same news release.
SEC Definition of Penny Stocks
http://www.sec.gov/answers/penny.htm
The term "penny stock" generally refers to a security issued by a very small company that trades at less than $5 per share. Penny stocks generally are quoted over-the-counter, such as on the OTC Bulletin Board (which is a facility of FINRA) or OTC Link LLC (which is owned by OTC Markets Group, Inc., formerly known as Pink OTC Markets Inc.); penny stocks may, however, also trade on securities exchanges, including foreign securities exchanges. In addition, the definition of penny stock can include the securities of certain private companies with no active trading market.
Penny stocks may trade infrequently, which means that it may be difficult to sell penny stock shares once you own them. Moreover, because it may be difficult to find quotations for certain penny stocks, they may be difficult, or even impossible, to accurately price. For these, and other reasons, penny stocks are generally considered speculative investments. Consequently, investors in penny stocks should be prepared for the possibility that they may lose their whole investment (or an amount in excess of their investment if they purchased penny stocks on margin).
Because of the speculative nature of penny stocks, Congress prohibited broker-dealers from effecting transactions in penny stocks unless they comply with the requirements of Section 15(h) of the Securities Exchange Act of 1934 ("Exchange Act") and the rules thereunder. These SEC rules provide, among other things, that a broker-dealer must (1) approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction; (2) furnish the customer a disclosure document describing the risks of investing in penny stocks; (3) disclose to the customer the current market quotation, if any, for the penny stock; and (4) disclose to the customer the amount of compensation the firm and its broker will receive for the trade. In addition, after executing the sale, a broker-dealer must send to its customer monthly account statements showing the market value of each penny stock held in the customer's account.
There are no rules restricting/guiding the timing of news release. Penny stocks are the Wild West. Just be prepared to lose.
A reverse split now would result in a share price of $0.30. Serious investors couldn't even look at this if they wanted to at that price level, and the stock price would continue its' decline.
It is much more likely for the share price to hit $0.05 from current levels with the announcement of financing, than to climb to $5 from $0.30 with any series of news events. Positron's goal is to produce a share price that is attractive to serious investors.
The math is simple for Positron. If Patrick and the board want serious investors to take this company seriously, the share price will have to be at least $5 after the reverse split. This means the share price before the split must be at least $0.05. They will have to make some major announcements before the reverse split to move the share price. Anything less than $5 will again result in a plummeting share price after the split.