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He actually posted on this forum about a year ago. That should have been the red flag to sell everything. Hopefully the trials end up with some positive results, however the bleeding in the meantime has been intolerable.
Did they pay for another pump and dump?
Last I saw Mike Withrow has a Vietnam address. I'm guessing that's a non-extradition country.
Why is this stock worth anything at this point?
2.05 bid...3.8 ask.
I guess that's the reason why you don't do the split without having positive news to back it up.
Is that what happened? I was under the impression it was a total scam...I didn't realize that there might actually be a real product that was basically stolen from the shareholders if that's what occurred.
I still have some shares that are eligible for capital gains that are priced at $.65 that I bought with the previous fraud company that never amounted to anything, although luckily I was able to sell enough shares above a dollar that I'm still well Ahead.
At least there appears to be a bit of a pulse, however feint.
This stock sure could use a split!
I just did very quick back-of-the-napkin math, and if one figures the annual myeloma market is $3.5 billion (26K patients per year x $130K per patient annually), which may be low, and speculates that OXIS can garner .005% of that market, it's still more than their current market cap. And of course, that's without using any P/E multipliers to value the company.
The only chance this company had was to have unaudited, unreleased financials. As soon as they released their numbers, and it was revealed they squandered in excess of $50M in management and consulting fees without closing on a single deal, they were forever banished to the dark side of the moon.
They won't, and based on the sickening amount if money this company has squandered on management and consulting fees (more than 10x the cost of either location to grow) there is ZERO reason to expect them to suddenly 1) have the money and 2) put it to good use.
They sure work quickly; it was only 75M a few days ago.
Abattis's Valuation Post-Allard
Presumably whenever the Judge gets around to ruling against the the government (and indirectly Licensed Producers) in the Allard et al case, Abattis's valuation will remain more or less unchanged, as they're not currently licensed, and hope appears lost on that front, right?
After all, we've heard no news of a larger safe, and without one navigating Health Canada's ever-changing path of regulatory roadblocks appears impossible in its politicized game of winners and losers. Speaking of lawsuits, there are rumors of a class action against Health Canada for mishandling the whole process, but as it seems likely patients will be able to grow their own medicine post-Allard, that issue may be moot.
The company's cap has lately been nesting around $6.3M, but it's hard to say what exactly that's based on. Clearly, the company has been wondering the same thing http://www.abattis.com/s/news.asp?ReportID=705379
Anticipated status as a licensed producer undeniably fueled last year's surge in PPS, although things have sufficiently tempered due to the various regulatory "hiccups" that I can't imagine anticipating becoming an LP provides much, if indeed any, of the current valuation.
So what's left?
On the surface, Phytalab appears to be the company's most tangible asset, regardless of how much revenue they're generating. Perhaps more important than its revenue potential is its data collection, which in turn can be used by iJuana, Northern Vine, and Biocell. Moreover, they have an existing network of clients in Washington who may be interested in using Biocubes...
Yes, Biocubes are still sitting in a warehouse somewhere in British Columbia, still being tested. And yet, tests to date have seemingly produced quite fruitful yields, and I believe this product has significant potential down the road. Keep and eye on http://biocubesystems.com and note the following: "Biocube plans to relocate the proprietary grow chamber to a i-502 location in Washington state in the near future and is preparing to sell grow systems that are ready for market. Biocube's goal in relation to this product remains to develop a superior sustainable growth chamber for use in the medical marijuana industry as well as produce markets."
Brazos Minshew was recently appointed Chief Science Officer, and recall the recent 5-year deal with Empirical Labs in Colorado. We know they're working on a bunch of new products with a wide aray of markets; hopefully whatever products are developed can generate some sort of ROI http://www.biocelllabs.com
Keep an eye on http://www.northernvine.ca to go live, as well.
All-in-all, I think there is reason to believe significant progress has been made and that the company has successfully managed to get away from reliance on becoming an LP.
They just appointed a new IR person, and Bill Flemming has only been CEO for less than 4 months...one can only imagine they plan to announce significant progress in one area or another BEFORE the Allard judge rules...after all, management continue to award themselves incentive options...
They couldn't close on one of the buildings, thus raising the PPS, and then dilute maybe 10% of the O/S to fund another closing? They chose to R/S and dilute BEFORE their first closing, after wasting more than $50M on obviously-bad advice last year? The way this played out appears to have been at best very amateur...and now the O/S is at least 50% higher.
Yes, the volume is a giveaway, but I don't buy the reasoning or the logic because the time to dilute is when a stock is rising, not after management voluntarily tanks it with a R/S! And they spent $56 million in consulting fees and on management last year! At the very least the CEO should be canned for not having closed on 2-3 properties with all of that money! It's hilarious Gary Johnson is associated with this joke of a company!
I don't understand (1) why certain shares were unlocked when they were, or (2) how the volume was so high on certain days when the majority of old shares appear to have not yet been converted. It makes no sense to dilute after a failed R/S attempt, if that's even possible...but then again these are the same guys who paid out almost $60M last year for nothing (which could've been used tangibly...like maybe to close on the current properties rather than delaying...) so who the heck knows what's going on. Luckily I don't own very many shares, so these shenanigans are rather amusing.
Same...how convenient this happened the day after it dropped 60%...ffs! Literally could've sold unscathed yesterday if whomever had processed the paperwork faster.
Everything they said makes a lot of sense; it's good to hear the new CEO's plans on how the various pieces will begin to work with one another. Considering Health Canada's complete mishandling of MMJ licenses, a realignment (of at least focus, if not divisions as well) and an update was long overdue.
Yes, random, untraceable numbers in my account. Hopefully someone "forgot" to cross an i or a t and this is all to prompt a short squeeze.
I still don't have access to my original shares from TD, just untradeable, unconverted numbers in my account. If there is news before that is corrected, and I'm not the only one with untradable shares in an environment with an already-diminished O/S due to the R/S...this could take off.
MBAY must've finished covering, or doing whatever he was doing.
MBAY is gone! And look what happens!
I only recently learned about this company, and I really like the story/potential...especially the (approx.) $95 million tax deductible they have going forward once they start to show a profit from the company's previous endeavors...which may or may not be currently factored into the PPS. I don't want to be left behind when the news hits, but after the crazy drop to the .02's the other day I also didn't want to not lock in any gains.
I hope I can get back in under .034 before news is announced...or under .03 would be even better.
That was nuts...had a sell in at .0365 for about 3 days now, after NOT selling when it ran up to .0374 the other day and dropped to .02+ (whatever it was)....saw it surging and changed my .0365 to .0395, which incidentally (luckily) appears like it may be the short-term top. Happy Friday!
1) It's not "some" dilution; it's an outrageous amount of dilution as compensation for what appears to be not-so-much work.
2) They've already blown through so much money, I don't see any reason to have confidence they'll spend money in the future more fruitfully.
Honestly, unless it was publicly known today was the last possible day they could close, and the company knew they weren't going to be able to close, there is no reason for them to announce a closing extension on Friday if they are on the cusp of closing Monday, which incidentally is the day the R/S is going into effect. If anything today's PR seems like a desperate, failed attempt to prevent the inevitable between yesterday's 10K and Monday's looming split.
During the year ended December 31, 2014, the Company:
i.
Issued 1,726,910 common shares for proceeds of $1,075,735 pursuant to private placements.
ii.
Issued 140,000 common shares valued at $197,400 to officers and employees and recorded stock compensation expense at the market value of shares at the date of issuance.
iii.
Issued 175,624 common shares to a shareholder pursuant to settlement of notes payable of $208,281 due to a shareholder.
iv.
Issued to various consultants 13,861,814 common shares valued at $26,591,126, as payment for consulting services. Shares were valued as of their respective issuance dates throughout the period.
v.
Issued 598,634 common shares valued at $1,361,561 as payment for legal services. Shares were valued as of their respective issuance dates throughout the period.
vi.
Issued 5,000,000 common shares valued at $14,750,000 as payment for management services. Shares were valued as of their respective issuance dates throughout the period.
Who the heck is Green Grow, LLC? They received 27,000,000 shares for unknown services rendered.
Green Grow, LLC
1919 N Woodruff
Mesa, AZ 85207
27,000,000
6.039%
To pay outrageous consulting fees or to actually pay for the deals? One can dream recent dilution is to fund deals, but they haven't sold enough shares in the past few days to pay for either of the would-be acquisitions, they don't have much in terms of assets, and I don't see how the timing of this R/S will help increase investor confidence.
I'm guessing they probably dumped quite a few shares on the 15th (33.9M vol.) and 16th (81.7M vol). I bought a few shares hoping for a bounce that never really happened, and perhaps needless to say when I saw the consulting fees in the 10K I wasn't happy.
LOL they thought a R/S was a good idea after the 10K debacle?
If not via appeal, it'll happen sooner or later...maybe Obama's swan song.
Si. No doubt they will ask for an interlocutory appeal, which should be interesting given the Circuit.
Presumably to avoid the disappointment of another missed deadline. But forgetting the nutraceutical product pipeline, how about finishing the website for BioCubes, which are just sitting in a warehouse waiting to be sold, collecting dust?
Interesting, hopefully everything will be up and running with respect to BioCell prior to their products hitting the market. But I am not holding my breath because BioCubes have been sitting in a warehouse for quite a while without have any viable means for them to reach an audience/customers.
L2 looks thin; maybe a rebound and a HOD close with a bit of buying volume.
After the gap open he never went higher than .0032 and it began to drop and consolidate. I thought after the gap filled he might move up, but there is still time left in the day.