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No questions taken on the CC, that's a first.
Cash focus now focused on hemp and cannabis now.
Response from IR about my inquiry into the inspection and path forward.
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Thank you for your interest in our VLN cigarettes with 95% less nicotine.
Earlier this year, the FDA did complete its inspection of our facility and processes and left us with an initial explanation of their findings. We expect to receive a more detailed report sometime later. At this point, we remain focused on the overall review process for our MRTP and PMT applications; providing the FDA with any additional information as it is requested. The guidance from the FDA on reviewing these applications is 180 days on the PMT and 360 days on the MRTP. That said, since 2011, FDA has only granted two PMT authorizations and zero MRTP authorizations. However, we continue to think that our applications could be processed quickly (by FDA standards) as they are relatively simple (IQUOS was very complex in contrast). In addition, our application gives the FDA exactly what it is looking for on a broader scale – a very low nicotine content cigarette.
Best regards,
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Sounds like they may have had some questions from the FDA, follow-up, and expecting a review.
All in all, seems rather positive.
The CEO just resigned for family reasons, will continue in an advisory role. COO taking over.
I also recieved an email from investor relations that I will post later from and inquiry that I had.
After reading into this more and gaining a better understanding, this seems quite good. Initially I thought IPIX was on the hook for further trial costs, I no longer believe that is the case. If they are not than this is substantially better than I initially thought.
What are peoples thoughts on this? I have to be honest, to me it seems rather small. I am quite disappointed.
Edit: Is it $24 million upfront or total? Upfront would be fine, total is bad.
I believe it was submitted near the end of December. It will be more waiting but this is an important step and shows progress.
XXII just send out some good supportive info that can be used to help along the MRTP application. Hopefully the FDA does not take the full 12 months to review the application. I'm hoping that by Ocrober it is completed.
Haven't been keeping up to date on the this forum. Hope the excitement is increasing every month cause if approved that is mega news.
Too expensive and over regulated is my assumption. Slowest trials in the world at a steep price.
I still wonder what happened to 'TheProgressive'. He brought me here years and years ago, he always had sound statements and input.
The only way I will ever get my money back on this is if they announce a meaningful partnership. My cost basis is $1.07. A long, long way to go.
I do believe that management has greatly mislead investors on several issues over the years. Pretty upset about that. Too much hype from an inexperienced CEO.
I am hopeful that Brilacidin works out for the company, and us. However, if I had more money to invest today, it would not be in IPIX. You don't invest based on hopeful thinking. A lesson well learnt from this gamble.
Market at the time was around $0.011, so yes it was a premium to the current market price. It was a private placement of which they received $75,000 cash, not a market issuance. I don't know what the funds where used for as it was not stated. It could be simply general operating / administrative costs as you assume.
They were sold at a premium. Holloman owns over 55% of shares.
Link to the HENC financial report, published 15-Mar-2019.
Of interest and last thing I saw:
On 15-Feb-2019 they sold 3,750,000 shares ($75,000) at $0.02 to a wholly owned subsidiary of Holloman Corporation.
https://backend.otcmarkets.com/otcapi/company/financial-report/213591/content
Plans to drill for the guy who buys. Henc woukd have nothing left with a full divestment.
Unless I'm wrong, full divestment means they are looking for a full buyer, not a partner.
Well, that's that then. Kind of disappointing. Not sure how that will work, would shareholders get funds from it or would it all just go to pay back the loans from Holloman. Time will tell.
Next week is the 120 day mark. Do we think we will get any kind of update soon after, or did the oil drop impact the decision? I wonder.
"I guarantee we cannot do business in Canada with anyone..even a competitor..because we acquired all Aurora's U.S. rights. And they can't operate here."
I don't believe this to be completely accurate, or maybe a bit misleading. I doubt Aurora would buy a company that limits it from doing business in the USA in the future. A few patents maybe.
Anyone listening to the call? I'm in class and can't, not sure if it is archived after either.
What ticker is that company using now? Hard to keep track, signs of a bad company.
I don't have an account but could see that PEL 444 and 112 are listed on their site.
https://www.petrodip.com/listing/cooper-eromanga-basin-western-flank-fairway-oil-exploration/
I think is is pretty far from the 'same company'. Holloman Corp is a Billion dollar company with international operations. Some of the executive team is the same, but its more of a subsidiary than the same company.
You are correct. The three small trials initiated by XXII prior to the MRTP submission were influenced by the FDA. I believe it was even mentioned in the last earnings call.
I think that the share price is still low enough that buying shares is actually the better overall play, especially if you are considering short term contracts. There is a ton of potential for appreciation in the near term, but you just never know. The liquidity is not there right now either.
If I was to buy options against my gut, I would look at fairly valued leaps.
That said, the January 2019 Calls could potentially make you a lot of money if everything executes well with the MRPT submission and the FDA.
I doubt that XXII will have much to do with any liquid CBD with coke. Aurora is fully capable of doing it themselves. The only upside for us is that we own some ACB shares via that acquisition right?
Strong move this morning. I heard on BNN that there was hemp and CBD news in the US, never saw the specifics.
The link that was posted shows that PEL 444 has been sidelined for another year. Nothing will be done this year I believe. Expires in 2022 now.
The link that was posted shows that PEL 444 has been sidelined for another year. Nothing will be done this year I believe. Expires in 2022 now.
I don't see how JUUL impacts XXII plans or the company in general.
If the FDA fails to impliment a VLN mandate, XXII was all about the MRTP to begin with. Most investors here were in before the FDA even mentioned the potential VLN mandate. That is gravy if it happens, but if not the MRTP will still likely be approved and worth a significant amount.
Just my thoughs.
They are still conducting at least one of the short trials. They said it will be filed before the close of the year.
MRTP to be filed by year end, according to CC. Less than five months away. Not sure how long the review process takes. Anyone with facts care to comment?
If on the conference call tonight I hear Henry mention the lawyer shaking his head not to say something again, even though probably true and proper, I'm going to be pissssssssed. Think it has been three in a row around the same topic.
Hope it's a good call as always besides that darn lawyer! Haha.
The trust, no. A completely uneducated opinion or pure falsehood rhetoric, yes.
Statement from FDA Commissioner Scott Gottlieb, M.D., on new steps the agency is taking to support the development of novel nicotine replacement drug therapies to help smokers quit cigarettes.
https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm615740.htm?utm_campaign=08032018_Statement_FDA%20statement%20on%20developing%20new%20nicotine%20replacement%20drug%20therapies&utm_medium=email&utm_source=Eloqua
Two points, both loosely related but I don't know for sure. First would be, I believe the FDA was given authority to act with freedom that other departments have not been. Second, I would argue (loosely) again, that the FERC did that earlier this year to MLPs (although drawn back yesterday), it was tax related I believe though.
My absolute guess is a run to .75 or .80 into the close tomorrow. Fridays seems to be good for a strong close lately. And we broke the .60 resistance already.
http://www.cbc.ca/news/canada/nova-scotia/halifax-area-smoking-ban-panned-by-local-business-1.4752093
... and it begins! :) My city.
To be clear, I did not say HENC management are scammers, I said that IMO TGC management are snakes.
They don't personally need the money, probably for just business fees. They are key stakeholders in Holloman.
The problem is with the other company that is full of snakes (imo), not this company.
I'm not expecting until near the deadline, and I blame TGC, or whatever they call themselves now, for all the issues.
Short Interest (Shares Short)
12,344,500
Short Percent of Float
12.43 %
http://shortsqueeze.com/?symbol=XXII