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IntelGenx Announces Analyst Coverage Initiated by Singular Research
Saint Laurent, Quebec--(Newsfile Corp. - April 16, 2015) - IntelGenx Technologies Corp. (TSXV: IGX) (OTCQX: IGXT) (the "Company" or "IntelGenx") today announced that Singular Research has initiated analyst coverage on IntelGenx.
A copy of the research report may be obtained directly from the analyst at Singular Research by contacting Greg Eisen, CFA, on 626-405-0242 or at research@singularresearch.com.
All reports on IntelGenx prepared by analysts represent the views of such analysts and are not necessarily those of IntelGenx. IntelGenx is not responsible for the content, accuracy or timelines provided by analysts.
About IntelGenx:
IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx' development pipeline includes products for the treatment of indications such as severe depression, hypertension, erectile dysfunction, migraine, insomnia, CNS indications, idiopathic pulmonary fibrosis, oncology and pain, as well as animal health products. More information is available about the company at www.intelgenx.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release and the OTCQX has neither approved nor disapproved the contents of this press release.
http://www.intelgenx.com/investors/pressreleases/2015/2015-04-16.html
2016 is what was said in the conference call...
I have marked your word, just as you wished...
That might give Intelgenx a good move today! That deserved to be a sticky... Thanks!
Wrong again ofspring! It's not coming off the greys... Sorry :)
I don't think there is much activity from retail traders really... It's just broker/dealers tossing the shares back and forth, and probably Zolotas trying to keep it from falling back under 1¢ but it's a losing battle!
I wrote to the OTC Markets and copied FINRA and the SEC explaining why $NEWL should not get a listing. I simply gave them some links to show them that $NEWL has done nothing buy lie to and deceive shareholders for a very long time. I know they are very aware of everything that has come out lately, and I am sure they are following the Transasia lawsuit against $NEWL, but I want to make absolutely sure! I truly believe $NEWL will be staying on the grey market...
I work for a living and am up at 3:00am... About to head out!
ofspring, you do understand forward looking statements right? I have highlighted the key words!
ABOUT OUR COMPANY
NewLead Holdings Ltd. is an international, vertically integrated shipping, logistics and commodity company providing ideal solutions for worldwide seaborne transportation of dry bulk commodities and petroleum products through owned and managed vessels.
NewLead executes an accretive fleet growth strategy to expand its fleet from 10 vessels to a stable, modernized diversified fleet of 30 vessels.
NewLead is a Securities and Exchange Commission (“SEC”) reporting Foreign Private Issuer in compliance with applicable SEC rules and regulations and current in its SEC reporting, utilizing U.S. Generally Accepted Accounting Principles’ financial reporting standards.
NewLead’s common stock trades on the Over-the-Counter (OTC) under the symbol “NEWL”.
NewLead controls a fleet of ten vessels, including five dry-bulk and five tanker vessels and manages one third party tanker vessel.
NewLead provides in-house technical and commercial management through its two in-house management companies, Newlead Bulkers S.A. and Newlead Shipping S.A., which manage dry bulk and tanker vessels, respectively.
NewLead focuses on capturing the appropriate market opportunity to begin excavation of coal and become a coal trader offering ideal logistics solutions through washing, blending and crashing, storing and transporting the coal.
NewLead intends to become an integrated commodity, logistics and shipping company.
Have you not been paying attention? There is NO transparency! $NEWL is full of lies and deceiving of shareholders...
Go here https://www.google.com/#q=Newlead%2BTransasia&newwindow=1&safe=off&tbm=nws and click on the link that says "Allegations from Nasdaq shine new light on NewLead delisting"
LOL... That must make them worth a gazillion dollars! Enjoy it :)
There is that key word again, IF. If you had bought... It's nice to dream, isn't it?
Some people made money, if they were quick! The majority lost long before it even fell to $0.007 or $0.0065 which is the lowest it went. It will go back to sub penny, but it's not based on my comments. I don't control how $NEWL trades, and my comments don't move this stock, just as others comments here don't, but I do try to prevent others from losing their hard earned accounts to this garbage!
And yet more $NEWL news from yesterday involving the Cyprus scandal!
http://cyprus-mail.com/?p=48098
Zolotas needs to go to prison!
More $NEWL news yesterday on the Cyprus scandal as well! http://cyprus-mail.com/?p=48164
You're absolutely right, it's nothing new with $NEWL, but still, people keep holding out for hope that will never come!
I guess when you have lost over 90% of your investment, you figure it's a total loss anyway, so might as well just sit on it and try to rebuild your account...
Because it's all part of a con game to rob from $NEWL shareholders!
As part of the $6.2m court fight, TransAsia used a subpoena to obtain the June letter from Nasdaq, which was not made public until now, explaining why NewLead was to be delisted from the exchange.
In the letter, Nasdaq’s senior director for listing qualifications, Stanley Higgins, wrote that NewLead’s disclosure practice “harms current and prospective investors, depriving them of information required to make meaningful and informed investment decisions, and also impugns the integrity of the market to the detriment of all market participants”
It's such a shame that so many amateur traders live in denial...
$NEWL needs to be shut down, and I don't think it will be much longer!
The $10m in financing that they just did, I'm sure was to pay Transasia the $6.2m in the settlement, just as they did a while back. It's all in the article on what this scam company does! It's right there in black and white, but yet there is still denial by amateur traders!
"Nasdaq also focused on a $44.8m “balance sheet programme” that was touted in June 2014 as a way to help buy a handysize bulker and coal-mining assets. Instead, Higgins said it involved the issuance of shares to pay a court settlement in a lawsuit. “The subsequent supposed benefits set forth by the company publicly were illusory and false,” the Nasdaq official wrote."
You see, that's the problem with too many immature investors... They can read a article like that and still find something good in it that justifies their huge losses, even though there was nothing positive in that article at all!
LOL... We'll see come Monday after the news spreads this long weekend :)
You're wrong again ofspring, the market did not see it because it is not a common news source for Yahoo! It needs to be disseminated across social media sites, and I am working on that right now :)
$NEWL NEWS OUT!!! And it's a doosey :)
And in case anyone thinks it's old news, it's not! It's from today... https://www.google.com/#q=Newlead%2BTransasia&newwindow=1&safe=off&tbm=nws
http://www.tradewindsnews.com/weekly/357287/allegations-from-nasdaq-shine-new-light-on-newlead-delisting
Allegations from Nasdaq shine new light on NewLead delisting
Litigation against NewLead Holdings has revealed allegations by the Nasdaq stock exchange that the Michael Zolotas-led owner demonstrated a “disturbing pattern” of misstating facts to the investing public before it was delisted last year.
Filings in the New York Supreme Court reveal for the first time that the stock exchange delisted the company because of what it said were at least four “false and misleading” disclosures that allegedly overstated asset values, misrepresented a “balance sheet programme” and claimed that company was renting non-existent office space from a company controlled by Zolotas, NewLead’s chief executive.
The accusations by the New York exchange emerged as part of a lawsuit by TransAsia Commodities against NewLead over a failed coal sales deal. Lawyers for Serge Turko-lead TransAsia last week asked a judge to take the rare step of entering a judgment against the owner over alleged “undisputed untruthfulness” in the court case.
A NewLead spokeswoman declined to comment on the allegations because of the ongoing litigation with TransAsia.
“Each side has its own perception and understanding of how things are and it remains to be seen who the judge will agree with,” she said. “We are only pleased that we are now closer to the end of this dispute.”
New York Supreme Court Judge Charles Ramos has ordered the company’s Reed Smith lawyers to appear before him on Monday to explain why he should not enter the judgment against the company.
We are only pleased that we are now closer to the end of this dispute.
As part of the $6.2m court fight, TransAsia used a subpoena to obtain the June letter from Nasdaq, which was not made public until now, explaining why NewLead was to be delisted from the exchange.
In the letter, Nasdaq’s senior director for listing qualifications, Stanley Higgins, wrote that NewLead’s disclosure practice “harms current and prospective investors, depriving them of information required to make meaningful and informed investment decisions, and also impugns the integrity of the market to the detriment of all market participants”.
The allegedly misleading public disclosures included NewLead’s statement in its 2013 annual report that it was paying Zolotas’ Aurora Properties $42,000 to rent office space plus as much as $270,000 per year in administrative expenses. The payments were “nothing of the sort”, Higgins wrote.
Instead, NewLead later explained in a securities filing that it instead issued shares to Zolotas to reimburse him for travel and other expenses but the Nasdaq official said there was no explanation as to how “such a detailed false account” of payments appeared in the company’s public filings. NewLead explained in July that it did not rent any property in New York but called the mischaracterised prior disclosure “immaterial”.
Nasdaq also focused on a $44.8m “balance sheet programme” that was touted in June 2014 as a way to help buy a handysize bulker and coal-mining assets. Instead, Higgins said it involved the issuance of shares to pay a court settlement in a lawsuit. “The subsequent supposed benefits set forth by the company publicly were illusory and false,” the Nasdaq official wrote.
Also cited in the letter was a deal in which NewLead claimed that it received a capital contribution of $236m from NM Kandilis in the form of nickel wire, in exchange for a 36.8% share in the company, which TradeWinds has reported. When auditor PricewaterhouseCoopers hired Duff & Phelps to carry out a valuation analysis, the metal was shown to be worth between $4,000 and $4.1m, Nasdaq said. The deal fell through and NewLead later admitted that the nickel wire was overvalued.
And the stock exchange criticised the September 2013 claim by the owner that it signed deals to buy two coal mines and a coal wash plant for $68m. But Higgins wrote that there was only contract for one mine, with negotiations ongoing for the remaining assets, and the transactions totalled $42m. NewLead issued two corrected press releases.
Last year, NewLead told the US Securities and Exchange Commission (SEC) that the Nasdaq intended to delist it over false and misleading disclosures but did not give details.
The owner, whose over-the-counter (OTC) shares were worth just 1.6 US cents this week, said it decided to “voluntarily” delist before an upcoming hearing on the decision. The company has filed papers to move its listing to the OTC QB marketplace.
Meanwhile, TransAsia says its effort to seek a judgment at this stage in the case is extraordinary but warranted because of NewLead’s and its co-defendants’ alleged willingness to “manipulate facts and evidence”, for example, by allegedly submitting false affidavits and what TransAsia claims is a forged contract. The trader suing the shipowner, Zolotas, coal mining joint venture NewLead JMEG and its chief executive Jan Berkowitz on allegations that they agreed to sell coal that they did not have. The defendants have denied the charge.
“For [the] defendants, ‘facts’ are a fluid concept, depending on whether they are dealing with TransAsia, Nasdaq, creditors, the stock-buying public, or this court,” said the TransAsia’s Cozen O’Connor lawyers.
NewLead owns five bulkers and six (correction 5) tankers.
Sorry, but you're wrong ofspring...
I very seriously doubt that, but to each his own, as they say :)
People lost a long time ago here, wishing and hoping, until they lost everything to $NEWL. You see, I was right a long time ago, and nothing will ever change that, even if it goes to $5.00 now (without a reverse split). We know it never will because the company is, and always will be, a scam! So many people that held onto this think there will be a huge pop, but there never will be. It is NOT on the Nasdaq anymore. It's a grey sheet stock that might get a pink listing just to get quoted again, but that's it...
The company needs their shareholders for one thing, and one thing only! To pay for their ships and salaries... Believe me, no employee of $NEWL is hurting for money, they just take yours!
Everything is financed... They are in such deep debt that I don't believe they will ever recover! It's been destroyed as a stock...
There is that infamous word again, IF! They filed for QB last July, when it was over $0.30 and nothing ever happened... How long should people wait for something that may never happen? How many people have to lose their accounts to this scam called $NEWL?
I'm as real as they come! Real = Reality, and the reality is that $NEWL is a scam...
If you do your due diligence, you will have your answer...
Old news! And why would you want to bring up the fact that they added to their debt again? Debt that will be added to backs of shareholders, not Zolotas!
Maybe, and maybe not...
Yup, another fat finger!
Check it out!
Criminal investigators in Cyprus probing what occurred that led to the island’s financial collapse have been accused
of dragging their feet.
Eight months ago, the cabinet had ordered criminal investigators to acquire a super-server to aid them in collecting
the endless data from the ministries, state departments, financial institutions and political parties after it emerged
that investigators were being submerged in endless paper trails and boxes containing documents.
According to reports in Phileleftheros, investigators have been struggling to make ends meet in their two-year long
investigations because they do not possess the correct tools to comb through out-dated documents.
Purchasing the server had been deemed essential but, so far, nothing has been bought.
The issue was brought in parliament on Thursday and once again prompted shouting matches between MPs of rival
parties Akel and Disy – who have themselves been implicated in malpractises during the disastrous handling of the
island’s economy in previous years.
Back in 2013, Cyprus launched a criminal investigation into what caused the financial collapse, after the beleaguered
island was forced to accept a multi-billion euro state bailout, in exchange for strict austerity measures.
Last year, it became widely reported that Disy and Akel received a total of €2million from Focus. Press reports last year
said €1.5 million was donated to Akel and €500,000 to Disy in 2007 and 2008.
Focus had also been reported as paying former Central Bank Governor Christodoulos Christodoulou €1 million in 2007,
two months after he stepped down. Christodoulou said the payment was an advance payment for ten years of consultancy
services. Christodoulou was last year sentenced to five months in jail for failing to pay taxes on the amount.
Focus Maritime Corporation is owned by Greek ship-owner Michalis Zolotas, said to be a close associate of former
Laiki strongman Andreas Vgenopoulos.
http://in-cyprus.com/still-no-breakthrough-in-meltdown-inquiry/
And yet more news released today about the crook Zolotas:
Focus slush funds raise fresh political storm:
By Constantinos Psillides March 27, 2015
DIKO leader Nicolas Papadopoulos stated yesterday that Focus Maritime Corporation – owned by Greek shipowner Michalis Zolotas, a close associate to former Laiki strongman Andreas Vgenopoulos – apparently donated money in 2008 to political parties AKEL and DISY so that then-presidential candidate Tassos Papadopoulos would not be elected.
In 2008, the late former president was up for re-election and facing AKEL candidate Demetris Christofias and DISY candidate Ioannis Kasoulides.
Daily Politis reported in April 2014 that €1.5m was contributed to AKEL and €500,000 to DISY – in late 2007 and early 2008.
President Nicos Anastasiades said that the matter will be thoroughly investigated and tasked Attorney-general Costas Clerides with launching a probe. The issue resurfaced on Tuesday after Clerides told the Cyprus News Agency that “the investigation is in its final stages.”
“There are a number of questions that should be answered and are addressed to specific individuals, namely messrs Christofias and Kasoulides. They are the ones that got the money, if the latest news reports are true,” said Papadopoulos, referring to a story published by Politis on Wednesday. The daily went into further detail regarding the money trail, claiming that AKEL and DISY leaders, Andros Kyprianou and Averof Neofytou, will be called in by the AG to be informed on the findings of the investigation.
The news report said Focus paid €500,000 directly to DISY in ten instalments of €50,000 in January and February of 2008, and almost €1.5m to AKEL – of which €1m was paid through offshore Abendale Management Corporation in two equal instalments in September 2007, and €450,000 in June 2008 through audit firm Kyprianides, Nicolaou & Partners. The firm had denied any wrongdoing, claiming that the money was paid for services rendered.
Politis claims that DISY first received the whole sum but returned €450,000, realising that it would raise suspicions. The report goes on to say that three weeks after, DISY proposed that the money be deposited in an account owned by a company called Rizokarpaso Shipping Ltd. and then to an account in the Marshall islands used to pay a travel agency in 2008 that was commissioned by DISY to make arrangements for students who wanted to return home for the elections.
“They need to answer why they accepted such a large donation from one of Vgenopoulos’ associates and why they tried to hide the money’s origin through such complex procedures. Who benefited from that money? In whose pockets did they end up,” asked Papadopoulos, demanding of the Attorney-general to wrap up the investigations as soon as possible.
Back in April, DISY admitted to receiving €50,000 from Focus, claiming that they returned the money.
Among other business connections, Zolotas participated in a €5.2bn capital increase in 2007 of MIG – Vgenopoulos’ investment group – partly using funds allegedly loaned to him by Marfin-Laiki and collateralised only by the MIG shares bought, a claim Vgenopoulos has repeatedly denied.
Focus was also reported as having paid former Central Bank Governor Christodoulos Christodoulou €1m in July 2007 – two months after he had stepped down as Governor. Christodoulou justified the payment as “consultancy services for ten years, paid in advance” and clarified that the account the funds were paid into was not his own but belonged to a company run by his daughter.
Christodoulou was sentenced to five months in jail in 2014 for failing to pay taxes on the amount received from Focus, and released last month.
Both AKEL and DISY issued statements asking the Attorney-general to conclude the investigation as soon as possible, once again denying any wrongdoing.
http://cyprus-mail.com/2015/03/27/focus-slush-funds-raise-fresh-political-storm/
Here we go! More Zolotas "The Crook" news...
Zolotas probe inspires political reforms in Cyprus:
London: March 25, 2015. A federal investigation is nearing completion into alleged donations made to Cypriot political parties through Focus Maritime Corporation, controlled by chairman and CEO of NewLead Holdings, Michalis Zolotas.
“We have gathered a massive body of evidence that is being processed by investigators and experts. As a result of this, progress has been slow,” Cyprus’ attorney-general Costas Clerides told the Cyprus Mail.
Cyprus’ parliament is to vote on reforms to party financing laws before the summer recess, reports say. Politicians initially pledged to reform the financing system after the European Parliament elections of 2014, but law-making has been postponed repeatedly.
In late 2007 and early 2008, Focus allegedly donated €1.5m to AKEL and €500,000 to DISY, according to reports in the Cypriot press.
In 2007, Zolotas participated in raising $5.2bn in capital for MIG, an investment group headed by disgraced former Laiki Bank executive Andreas Vgenopoulos. Reports say Zolotas used funds loaned to him by Marfin-Laiki bank (as it was then known), collateralised by the MIG shares bought. Vgenopoulos has denied the claims.
Focus is also alleged to have paid €1m to Christodoulos Christodoulou, former governor of the Central Bank of Cyprus, in July 2007, two months after Christodoulou had stepped down as governor. Christodoulou justified the payment as “consultancy services for 10 years, paid in advance” and in 2014 served five months in prison for failing to pay tax on the amount received.
Zolotas is the vice-chairman, president and CEO of Focus Maritime. In 2009, Focus converted $217.3m of debt into equity in NewLead Holdings through an issue of convertible senior notes. The notes are due for conversion this year into 264,939,024 shares in NewLead’s common stock.
Focus Maritime is not the only company implicated the political financing scandal. A German company that won a contract to build a sewerage treatment plant in Cyprus is alleged to have given kickbacks to then mayor of Paphos, MP Fidias Sarikas.
http://splash247.com/zolotas-probe-inspires-political-reforms-in-cyprus/
Just as they always release a PR about when they are releasing 10Q's or 10K's, they always do a CC after releasing a 10K...
What is different, is that they also released a 8K announcing the 10K. What I found different, and I had to go back in the filings, is that their Investor Relations changed in a filing dated back on August 21, 2014 to the Cockrell Group...
I had to go back and check... You're right, they don't normally put out an 8K, it is usually just PR'ed. Not sure why that would make a difference, but we'll see...
Very strange that it was up over 14% simply because they announced what day they will be reporting annuals! Penny Stock Buzzers is doing a good job I guess...
The simplest of charts tells you it's been 25 days... And we don't even know if getting quoted is why it's back over 1¢!
Actually, it's a lot worse than that! Who ever is holding this above 1¢ should be prosecuted!
The financing may have saved Newlead as a company—it avoided bankruptcy and bought new tankers—but it ruined it as a stock. The company has been so thoroughly pillaged that if you’d bought $3 million of shares in March 2013, just before Magna invested, you’d be left with a dime. Adjusted for reverse splits, the shares trade for 20 billionths of a penny—$0.0000000002. Newlead did not respond to a request for comment.
http://www.bloomberg.com/news/articles/2015-03-12/josh-sason-made-millions-from-penny-stock-financing
LOL... That was good Janice! I seriously do not believe that $NEWL will get a QB listing, but then again, who cares?
They will still go below 1¢ eventually, so make sure you sell into the 3¢ pop if it goes to QB!
$NEWL has and always will be a scam company that rips it shareholders to shreds!
Janice, been a long time! They did find a sponsor a long time ago, but $NEWL wanted QB tier and they have to close above 1¢ for 30 consecutive days, but let's face it, $NEWL is not worthy of even a QB listing. I think they will go to pink, and if not, they will rot on the grey market...