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To encourage you, someone posted the following :
""I just got back from the ACT headquarters in Marlboro MA
Some of you know that I have been there in the past. I am pleased to announce that they have done very well with the new office and should be all moved in before the shareholders meeting. All new furniture fresh paint looking nice. They now rent the entire first floor. They have all new signage up, I feel better now after visiting the new location, there seems to be cause for the non PR or news coming from ACT. Looks like some big time manufacturing is ready to begin.""
Thought this would make you feel better.
"I would welcome a post that suggests what developments this year could help our share price and investment in this promising company."
"Thank you for your additional comments about Advanced Cell Technology, Inc and Gary Rabin. As we noted in our prior response, OIEA processes many complaints received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review.
Please note the SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will be unable to confirm whether an investigation exists or provide you with any updates on the status of your complaint or of any pending SEC investigation. Information on our policy is enclosed. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters."
Sincerely,
Special Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
Since I came on board investorshub, I was criticized for warning shareholders about Rabin the day he appointed himself as the CEO. I never trusted him and I wrote my opinion on the man. So much for that.
I have taken the decision to sell all our shares @ $0.062 even if we paid $0.197. And now, I am going after Rabin. I have written to the SEC and this is their response. You will understand why I have taken out my name.
" Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
We appreciate your informing us of your concerns regarding Advanced Cell Technology and Gary Rabin. The Office of Investor Education and Advocacy (OIEA) processes many complaints received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review.
The SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will be unable to confirm whether an investigation exists or provide you with any updates on the status of your complaint or of any pending SEC investigation. Information on our policy is enclosed. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters.
If you have any questions, please contact me.
Sincerely,
Steven G. Johnston
Special Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov "
May I suggest very politely to some of you to start complaining to the SEC before you lose everything. I am 70 years old, have been investing for a long time, and I have seen companies which were run by individuals like Rabin go down the drain. Stop dreaming !
I was extremely stunned to learn about Rocky's passing. I cannot write more beautiful words which were written on this board.
It is sad to need such a tragedy to bring back posters we all missed.
I wish to offer my most sincere condolences to Rocky's family.
An ACT active CEO would be like this :
"We note that Array BioPharma has entered into several collaborations with big companies and amassed a total of $577.9 million in research funding and upfront and milestone payments from collaboration partners from inception till Jun 30, 2012."
With potential that ACT has, where are the "collaboration partners" who would finance Dr. Lanza's R & D and multiple trials ? The answer is probably in a poker room .
Myles Edward H: Insider Trading and Stock Options
Stock options: Exercise, Award, Grant, Conversion
Transaction
& Date Reported
Date Exercisable
Expiration Company Symbol Insider
Relationship Shares
Traded Conversion
Price Shares
Ownership Filing
2013-06-27
Option Award 2013-07-01
4:19 pm N/A
2023-06-27 ADVANCED CELL TECHNOLOGY, INC. ACTC Myles Edward H
(CFO and EVP of Corp. Dev.) 14,000,000 $0.0778 14,000,000
(Direct) View
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To answer all your questions, the science is the reason.
You miss the most important point. There are multiple thousands of companies which trade all over the world. There are companies with hundreds of patents which are unsuccessful. There are companies with great chief executive officers which are successful because investors trust those specific individuals.
ACT's CEO has proven that he is "untrustworthy". First, with the toxic financing which was hidden to new investors such as my small investment company. Second, with his illusive search for a competent CEO after Caldwell's death. Third and most crooked, large insider trading which he did not report on time. I don't have to add more to these irregularities, I don't believe him and I don't trust him. We were conned in buying this stock and we will keep the shares until we can possibly get our investment back .
I am totally frustrated with the dreamers on this board who do not understand the importance of having a trustworthy CEO and management team.
Nothing wrong with the science, my friend . Investors don't only look at the product when investing . Investors also scrutinize management and this company has an "untrustworthy" CEO . Period . And I can write here that we made a bad investment not knowing what was hidden by the company at the time . As I wrote in the previous post, we invested in good faith . We are now stuck with the shares we paid too much for . ACT was and is responsible for malpractice and false representation towards its shareholders .
Just consider yourself lucky there were no additional lawsuits from bewildered and swindled shareholders.
We bought this stock before Caldwell's death in good faith and we inherited a poker player hedge fund mgr. as a CEO and then numerous lawsuits from toxic financing. Malpractice, false representation and a CEO hiding insider trading. A CEO putting on a show during conference calls and playing poker the rest of the time. A CEO extremely well remunerated and not performing to CEO standards. A CEO who has the BOD by the anatomical soft parts and who is draining the company to entertain his livelihood.
YOU ARE ALL DREAMING. Serious investors will stay away from a company with a CEO like Rabin. If a little investing company like mine does'nt trust Rabin, imagine how the bigger companies feel. Rabin is toxic and "untrustworthy".
Farviewhill,
You're my only ally on this board as you clearly understand the fundamentals of biotech companies. We both understand the value of Dr. Lanza and a few board members but we also both agree that we do not have the right CEO to bring ACT to its full potential.
Farviewhill,
You're my only ally on this board as you clearly understand the fundamentals of biotech companies. We both understand the value of Dr. Lanza and a few board members but we also both agree that we do not have the right CEO to bring ACT to its full potential.
"This is a biomedical stock and everyone is aware there are risks. If you bought too high and did not mitigate your loss, then look in the mirror for the problem, but it is not ACTC."
How dare you write that ? Some of us bought ACT's shares (ACTC symbol) in good faith during the Caldwell era, not knowing about the toxic financing and not knowing ACT had not repaid the loans. The facts were hidden and we now all know what the consequences are. "Look in the mirror for the problem, but it is not ACTC" ? Unbelievable ! ACT, the Company, was guilty of malpractice and Rabin was there.
I have a problem with people who excuse dishonesty and malpractice in business.
Some of you claim that Caldwell had no choice in doing what he did. Let me remind you that Caldwell would have lost his 92,500,000 shares had he decided for Chapter 11 . And let me remind you also that RABIN WAS THERE during that time.
I purchased many shares during the Caldwell years and many more before his death. At the time, I wasn't aware of the toxic financing and had I known, I would have never invested in a dishonest company. A public company is considered dishonest when it hides financial matters to its shareholders.
Rabin parachuted himself as the temporary CEO and CFO with the intentions of searching for candidates. We all know that never happened. As he is piling the millions of dollars, some of us are still admiring what he does.
ACT, the Company, was guilty of malpractice when I bought my shares and nothing you write here will change that.
We had a decent porch. Then we all started feeding the bird. It will come back everyday until we stop feeding it . EOM .
Capt_Smith77,
"3. ACT'S MANAGEMENT
None of the managers have instilled any confidence other than exciting people with blogs and tweets, and over the years they've padded their bank accounts with lofty salaries and ridiculous payouts worth millions in stock. Not once has one of the managers or BOD bought shares on the open market, yet the freebie shares are often sold and sometimes at the worst moments possible; claims of tax purposes often given as a reason. While ACT'S management may seem like a strong base, their CSO, Dr Lanza has often slipped up his public communication and has been quite expensive for his work, IMO. As for the CEO, what exactly has he done, and why does he continue to claim that he feels the same pain as his investors from a PPS standpoint? All of his shares were given to him for free! This man has done absolutely nothing to improve shareholder value, and there's a trail of missed milestones and false hopes, including the Chinese JV debacle, the 1/80 reverse split and uplisting to a major exchange that never took place and the INDs that are always just about to be filed. On top of that, the CEO often seems critical of his investors. Clearly they're the reason for ACT's poor stock performance and not the bad decision making on behalf of management. "
I agree 100% but please, let's not offend the Guru lovers or some who post Lanza pictures on this board. This company has a sectarian group and it excuses the actions of a CEO who was very present during the Caldwell years. I bought shares during the Caldwell era and I write today that I would not have if I had known about the toxic financing. The company is guilty of malpractice so don't be surprised if your Gurus get sued by a well organized group of shareholders. Rabin has two months left to perform.
Yes you are and I am quite happy I have read you well. Now the difficult question: Did Caldwell die of a natural or a provoked heart attack ?
Maybe you should also read Paul Taylor's "Respect for Nature:A Theory of Environmental Ethics", Albert Schweitzer's "Reverence for Life" or Peter Singer's ethics of "Animal Liberation". Maybe Lanza is not the only Guru out there. EOM.
I am totally p...ed off with your comment. Before doing what I am doing now, I was involved in professional hockey. Let me write a little situation regarding a goaltender in the NHL. I cannot go into the details as I am sure you will understand. The father claimed that he owned the goaltender's house so the son had to sew his father to retain his house. So please...don't try to make me cry here.
Caldwell knew what he was doing and we don't have to pay for his crooked behaviour. I had no pity for Enron's CEO nor do I have any compassion for Bernard Madoff. Knowing what we know now, the Caldwell Estate must be seized until the courts decide of its outcome.
Time for fun...I remember someone asking for your PPS prediction and I thought it was refreshing and positive. So what is your realistic prediction ?
Stop writing ghost stories. You are the child of darkness on this board. I bought @ 0.197 so yes I am very disappointed. But I am more upset at people like you and little guys fighting for 1/10th of a cent. This is a great stock to own. Just give the science enough time to turn this undiscovered treasure into whatever you dream about.
Joking of course...would you consider selling "ALL" your shares today ?...LOL
" Buy on Dips and Sell on NEWs/Rumor"
How dare you write something like this ? And I thought the supposedly pure were all long . But don't worry, the moderators will delete my message and you will still be a hero to most here .
I am honest enough to admit I made a "rookie" mistake in thinking this stock would go up after 1:30 P.M. . I was wrong .
Alpha 611,
My personal opinion has nothing to do with "POSSIBLE RESULTS". I'm only looking at charts and they suggest ACTC will again go up today. EOM.
May I politely suggest that you buy right now. If you don't, I hope you will be honest enough to remind us all around 1:30 P.M. that you should have. What I have just written is only a personal opinion and NOT a corporate suggestion.
"There's always a time to compensate the company builders. If ACTC truly has a game changing product, qualified management will come to your door."
Not if Rabin keeps them from coming to the door. I truly believe Rabin has his own agenda and he has proven that in the past. He will not let anyone come close to this gold mine and he will do whatever he has to do to become filthy rich. That's his only goal and IMHO, he does not care about the science, not one bit. The PPS can stay the way it is. The longer it takes, the more money he makes in the long run. Typical behaviour of a parachuted CEO, most specifically in Biotechs.
The only way to kick him out is to own over 1.2 billion shares or to convince Daniel Loeb to invest. I guarantee you that if Loeb ever invested in ACT, Rabin would be out in a few months.
With ACT's science and patents, anybody roaming the streets could convince medical centers to run trials especially if that given Company pays for them. So please...
I am very unhappy with the free-and-easy attitude and the lack of diplomatic aggressiveness as shown by management and most specifically by ACT's CEO. In fact, now that Pfizer is involved in finding medical solutions in competition with ACT, I am really upset with Rabin's slowness to push for more trials.
Unless Rabin performs to CEO standards, I will do whatever I must do to send him off permanently to his poker games.
"I find it amazing that we have a BOD who agreed to come on and major hospitals willing to participate in clinical trials."
Dear Louisa,
I know you are quite respected on this board so I will not describe you as hilarious as you have so candidly "called" me. With ACT's science, I find it hilarious myself that "major hospitals are willing to participate in clinical trials." Some people in society love Gurus, and I respect that.
I run a very small investment company and I do it in humility. For now, I cannot oust ACT's CEO as Daniel Loeb would do without hesitation. But I am writing officially that I will do whatever it takes to get rid of Rabin as the CEO of this Company. He is definitely not my choice for this position.
OUSTING THE CEO
ACT's officers have taken money from shareholders to live as celebrities. For a company with no revenue and very little medical activity, it is time we question the CEO on his daily activities.
If you think Gary Rabin deserves $1,350,000+/year just to show up at conference calls and to tell us that things are going well, you are blinded by ACT's possible success. Medically, even with all its patents, the Company has been too slow recruiting patients and there is no sign of aggressive action to start many more trials. ACT is stagnating.
You are all aware that Rabin was with the Company during the toxic financing and that he knew what would happen legally if the Company did not fulfill its commitments. You are also quite informed that Rabin elected himself as CEO and CFO.
It is time we all ask Rabin what he accomplishes on a daily basis.
"That product, developed in a collaboration between Pfizer Inc and scientists at University College London, consists of retina cells derived from hESCs, for treating age-related macular degeneration, an eye disease that causes sight loss and blindness."
Pfizer is a major pharmaceutical player with a lot of contacts. It does'nt matter what Doctor we have, our CEO is just a "Hollywoodian" type of individual who acts like a professional poker player. What exactly does our CEO accomplish on a daily basis to earn $1,350,000.00/year ? Management is draining the company. Furthermore, when you add the outrageous amounts of free shares they give themselves and then sell at a ridiculous period of the year, it is obvious Rabin and Lanza don't give a ... about the shareholders.
THIS HAS TO STOP...NOW !
Big difference is you don't stay in the same plane for 2-3 years.
Are you serious ? With income of over $1,000,000/year, do you seriously believe that management cares about the shareholders ? You are living in a fantasy world.
Great post ! You clearly understand the people who are running this company. Insane and immoral ! Most people here realize stemcells are the future and we all hope ACT will be a big player as it would all make us a little wealthier. But...how can you trust a company when the most important officers are selling important quantities of their free shares. What bothers me is the Guru lovers who think someone who earns $750,000.00 and more might need more to buy groceries and other goods. To take shareholders' money at a most troubled time for this company is unacceptable.
Medical question .
Retinitis pigmentosa. Does ACT have plans regarding this ?
You missed the message...totally. A journalist has the liberty to write what he wants and what he wrote was not what I would have liked to read.
Bottom line, regardless of people's love for a Guru, I only look at results. FACT : the stock is trading @ $0.07 .
I agree with you but I am not in the business of loving Gurus. I'm in this to make money and right now, the only people making money with ACT are Rabin and Lanza. I'm losing my shirt as I have bought the stock @ 0.197 in Dec. 2010, so give me a break with your worship of the "Good Doctor".
This "hot Stocked" paragraph written by Kaloyan Gadzhev does not help:
"The fact that the company is very far from profitable doesn't prevent it from paying its executives hefty sums. Gary Rabin, CEO of ACTC, got nearly $3.6 million in 2011. The Chief Scientific Office, Robert Lanza, M.D., got about $3.5 million. Approximately two-thirds of those amounts were in stock awards or stock options, which doesn't help the dilution issue."
If I can encourage you a little, the trade was @ .0797 !!!
As always, you are right.
4:01 after hours trading, someone just picked up 2,630,000 @ .0795 .