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Promo took place on 1/3/13, the first day the PPS dropped after recent rally. IMO Southridge is handling promo for BMSN (not uncommon in PIPES)and is now shorting the stock again. Which means it could fall to .0002, just like it did in Decemember, before the rally.
If by "bashers" you mean those of us that research a company, then I'm a "basher" and you will find that I made multiple posts during the run of 12/21-1/1, attempting to bring to light the negative aspects of the toxic financing and bad business decisions that have been made by Dr. Koos. IMO this run had no rational explanation, and while the irrational happens frequently, I prefer to take a rational view if one is available. This stock has been steadily driven into the ground since the involvement of Asher and Southridge. The same pattern appears in almost all other penny stocks in which these financiers are involved. Southridge and Steve Hicks are under active SEC investigation for similar dealings. IMO this stock is being shorted to benefit Southridge and Asher.
While the patent that BMSN holds shows great promise, it is unlikely that the business will be able to bring that potential to fruition. There may be another short run, but only after the stock has been driven to .0002; that's Southridge's MO. In the long run, BMSN ends up in the dumpster, with some other company maximizing their patent by virtue of having purchased it from BMSN in BK.
Having said that, I am impressed that BMSN was able to hold it's PPS (relatively), under the selling pressure to day. I hope there is another run, and soon.
This sounds like an opinion on what may happen. It certainly isn't the worst case - that would be BMSN goes to .0001, is de-listed or goes BK. Not saying you have no right to your opinion, just that it is your opinion, not an absolute.
I agree completely. "New eyes" should be completely open when making the decision to invest. But I don't think BMSN is all sunshine and roses. There are some significant finance structure problems that could potentially cause this to blow in the face of all that are still invested. IMO if you are playing the highs and lows trying to turn a short term profit, you may be successful if you can figure out what Southridge and Asher are doing. If you think this is a long-term, buy-me-a-house-in-the-Hamptons kind of investment, I think you'll be left holding the bag. GLTA
WE can't vote for a reverse split. The preferred shares that Koos holds provide more than 51% of shareholder votes.
No. What I'm saying is that some bad business decisions are going to tank this company. As an aside, I hate what Hicks does to small businesses - HemXellerate has real potential. I can only hope that if and when BK occurs, the patent is sold to company with a better business structure in place.
But since you brought up the team, there are an excellent group of clinicians that became associated with BMSN last year; unfortunately, it has all been for nought. IMO, if they had been allowed to progress on their preclinical work, an IND application would have been filed already and phase I trials would be starting.
If those things had happened, I could swallow a market cap of $20-30M for this company, which would lead to a PPS of about 0.02-0.03. Hence, the POSSIBILITY of a ride up (the public perceives that the company will become a $20-30M entity soon).
There has been no evidence, to date, that the team has been allowed to progress (probably due to no capital) and therefore, I feel there will be no IND or clinical trials.
Not "fully diluted." 2B A/S - dilution can continue to there for now, and further if more shares are authorized.
New 8-k. 1.1B O/S as of 12/31/12. There were 216M O/S on 6/30/12 when PPS was around 0.005.
May also be an ex-clearing transaction (i.e. one settled by buyer-seller outside of the clearing system).
This can and does happen to fulfill convertible debentures.
Interestingly, the settlement price of .0013 is the average of the 5 most recent closing prices; which is the formula used in the Asher CD notes taken on by BMSN.
I knew you wouldn't understand, and it's not worth the effort explaining. Good luck.
I've been nice to this point, much like you must be nice to a mentally handicapped child. Read section 2.2(a) - I seriously doubt that you will understand it.
I'm trying to help - accept it or don't. I have an MS in cellular and mollecular biology, a DDS and an MBA. I make a living doing this and have seen how Southridge dodges requirements and agreements by setting up offshore entities. If you acually believe that Southridge doesn't short their CD just because they "agreed" to it then you probably believe in Santa and the Tooth Fairy. Steve Hicks (look up who he is) is currently under SEC investigation and has 2 judgments against his companies for this very thing. Good luck.
Only goes to my previous point that the CEO's business decisions are questionable at best. Someone previously posted about the relative merits of the HemaXellerate patent, I don't argue that either. My concern is that the business entity that owns the patent does not have the acumen to execute financing that will allow the patent mature into a fruitful treatment. Best thing that could happen for HemaXellerate is BMSN going belly-up and the patent being purchased by a company that can run with it.
From 14C of 11/7/12:
The number of Shares sold to Southridge shall not exceed the number of such shares that, when aggregated with all other shares of common stock of the Company then beneficially owned by Southridge, would result in Southridge owning more than 9.99% of all of the Company's common stock then outstanding. Additionally, Southridge may not execute any short sales of the Company's common stock.
The Purchase Agreement shall terminate (i) on the date on which Southridge shall have purchased Shares pursuant to this Agreement for an aggregate Purchase Price of $20,000,000, or (ii) on the date occurring 24 months from the date on which the Agreement was executed and delivered by the Company and Southridge.
Under the terms of the Rights Agreement, the Company agreed to file a registration statement with the Securities and Exchange Commission within 90 days of the date on which the Purchase Agreement was executed and delivered by the Company and Southridge.
The registration statement shall be filed with respect to not less than the maximum allowable number of Shares issuable pursuant to a put notice to Southridge that has been exercised or may be exercised in accordance with the terms and conditions of the Purchase Agreement permissible under Rule 415, promulgated under the Securities Act of 1933.
The Company is obligated to keep such registration statement effective until (i) three months after the last closing of a sale of Shares under the Purchase Agreement, (ii) the date when Southridge may sell all the Shares under Rule 144 without volume limitations, or (iii) the date Southridge no longer owns any of the Shares.
The Purchase Agreement requires the Company to reserve and keep available until the consummation of such Closing, free of preemptive rights sufficient shares of common stock for the purpose of enabling the Company to satisfy its obligation to issue the Shares.
I've been burned by Southridge in the past and watched the company of an associate tank because of a bad decision to acquire financing through Southridge and Asher. I will do anything I can to keep these predators from being successful. Take the advice for what it's worth - I just don't want to see "them" win, and they win by taking our $$.
You may choose to see it as helpful or not. Less than an hour's research on Edgar to see where the financing comes from, how it's structured and what the O/S is, then following through with research on who provided the financing and what they're past MO has been and you can then draw your own conclusions.
I hope your right, but I doubt it. Remember that Southridge has no vested interest in seeing the stock price climb - they haven't loaned $20M to BMSN; they rec'd cd and fees up front for providing the financing and BMSN can draw against the credit line when they need to. Southridge doesn't want them to draw against it unless the PPS is low (Southridge gets more shares this way). Look to any of the other Southridge victims: ENTB, ELAY, KNSC and a multitude of others. They utilize companies like SGI Group and Star City Capital to short the stock over time, starting just after the "IR" that ANYCO has acquired financing through them. This pumps the price, Southridge, et al, short and then cover with their cd or stock they acquire because the company has to come to them for money. THE STOCK THEY ACQUIRE IS SOLD AT A DISCOUNT TO SOME FORMULA ON CURRENT PRICE - they can't lose if the PPS goes down. As a matter of fact they ride they company into the ground, banking the loss of value as they go.
Another pump and dump "IR" website utilized by predatory financing companies like Southridge.
Correct - a convention of marketspeak.
Delay in filing 10K is because Koos doesn't want the public to know the real O/S.
That trade was a sell - Southridge again.
Look at http://otcshortreport.com/BMSN. Short volume for the past week is hovering between 85M and 105M shares. Look at the after hours trade (sale) on Monday of 4.4M @ .0015. The high trade volume is being driven by Southridge shorting this stock again. If the volume continues they will place increasing selling pressure on the PPS by continuing to sell short. They do this because they will be able to cover the short with nearly free shares from BMSN (dilution). Koos made a terrible business decision and anyone still in this stock will be left holding the bag before the end of Q1.
ENTB and BMSN both are victims of death spiral financing from Southridge. IMO the "merger" news will be a merger btw these 2 companies with a reverse split; ENTB will no longer trade on the open market and BMSN will be further diluted by the influx of shares in ENTB.
Do your DD. I believe almost nothing that Paris says, but A/S was raised twice since 6/12 adn is currently 2B. The company claimed 403,000,000 O/S as of 11/12. Since then several convertible debentures (including some of those for Asher and Southridge) have come due. Given the amounts of the debentures and the share prices on redemption dates it would be prudent to assume that another 200,000,000+ have been released. This doesn't include the ongoing ability of BMSN to draw against it's $20M equity line with Southridge. I'm not picking on you specifically, there is a lot of false information, that can be easily verified, being spread on this board. Many people seem to think that the CD equity line with Southridge is a good thing - it's not!! Southridge is a parasite company who's CEO is being investigated by the SEC for setting up fraudulent offshore accounts so that he may direct short selling of companies that Southridge has "invested" in. Southridge specializes in death spiral financing - go to their website, look at the companies they have listed as investments, then see what has happened to every one of those companies.
Nice try, but I'm not a "basher." I originally purchased this stock over 1 year ago, and have been in and out of it since. The past few days have been an unexpected nice little run - I made some $$ and am pulling out. You don't have to believe me, I'm just trying to help you not lose your entire investment. IMO this company will only exist as a shell by the end of Q2. Good luck.
All shorts have been covered on this stock. Southridge has a credit line arrangement with a bottomless floor on conversions - death spiral financing. Southridge and Asher are out of the game right now. With the loss of their massive selling pressure the stock is rising. But they also know that this stock has been hugely diluted - I would bet that we are now closing in on 1B shares issued. Look for Southridge and Asher to begin selling short again, and soon.
Besides the timing doesn't jive on their 11/19/12 announcement of IND and Clinical trials; they said they had HIRED Cascade Life Sciences for research, not that CLS had already been conducting research and that they would begin process for IND in Q4 with clinical trials in 2013-14. It takes a MINIMUM 6 mo to gather sufficient data for IND application and 6-9 mo for application process. If they just hired CLS in November, how will they apply for IND by the end of December? Besides, where will the money come from? The answer is Asher and Southridge, with another round of short selling and the final death spiral. JMO, but the smart money is on this thing tanking before the end of Q2 2013. The only way to profit on this one is to short it.
Was the volume alert that there would be none??!!
Could be the spelling? That happened to me the first time I searched and I discovered I had left the 'e' off the end of HemaXellerate!
Google HemaXellerate and you will get 300+ hits - all posts of the press release.
So, if I understand correctly, then I shouldn't buy now at .002, but instead should wait until the price goes up??? I truly hope you will let become one of your disciples b/c that kind of thinking is going to make me a lot of $$!!