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About a year ago CYDY acquired Prostagene. One company with no money buying another with no money.i thought this smelled much like the stuff that was done by the crook who ran RXII. I posted as much. Of course the cheerleaders bashed the heck out of me. You folks have to realize the modus operandi of many of these tiny companies, especially biotechs.
1- their management knows how hard it is to get a drug approved and to market.
2- the ceo's and board are generally overpaid.
3- in many cases, their goal is to just keep the gravy train going, month after month, year after year, while the shareholders take it on the chin. We should be happy they haven't ravaged us with a bunch of reverse splits.
Is that going on here? It may be. Time will tell. But to
Answer why many of us continue to hold, it's simple. At 26000 shares at 49 cents I don't have enough in this thing to ruin my life if it goes belly up. On the other hand, a decent run up to 2-5 bucks or better would be huge. So I hold. But I think this whole thing stinks, including the CEO and the board that recently gave this guy a raise, of all things.
For what it's worth, there's a number of bullish candlesticks showing up in the last trading week.
The way I see it, if we get thru tax loss selling season around thirty cents, that's a huge win for shareholders.
Yeah and it's a drug for schizophrenia, for goodness sakes!!
How many schizophrenics are even out there compared to HIV, the various cancers, NASH, graft vs host.
You gotta wonder what's going on here.
In mid June we broke the long term downtrend. The 1st pullback to .40 in July was essentially a test of that downtrend line. The second test of the .40 area
confirmed a double bottom. We now need to get above the recent high of .54
Everybody on this board, for the most part, raved about this guy Pestell. However, bringing him into the fold surely didn't move the share price, at least in the upwards direction. And somebody dropped the ball on the breast cancer trial. Not that im any big fan of NP either, guy seems like a used car salesman to me. But I'm holding at this point. For one thing, I know if I sell my shares it'll jump to 10 bucks the next day, and I can't live with that.
If my chart reading is correct, we should be ready for another move up. Reason- we broke above the 6 month downtrend line recently on good volume. Now falling back to that same trendline on light volume, a bull flag. Of course, I'm holding 25000 of these at .52, so I'm also cheering for the above to happen.
I hate to rain on anybody's parade here, but this move reminds me of the move RXII pulled a year or so ago. They supposedly had a 'promising' pipeline and a million patents, but no money of course. Out of nowhere, RXII, a company with no money, buys another little outfit, another company worth nothing with no money. Turns out the pipeline meds were all a total failure. Numerous reverse splits were done. They can't sell the worthless pipeline and now they're onto something
else with this new outfit they bought. Meanwhile, the CEO keeps pulling in more than half million a year. The shareholders got slaughtered of course. Seems to me many of these tiny drug outfits just wanna keep the gravy train rolling. They know how hard it is to get a drug to market. If we were as close as many of us thought, why do this deal? I hope I'm wrong. Sitting on just 10,000 at .58, but even a move to 5 bucks would allow me to pay my house off. 10 bucks and I retire early. But I'm very nervous at this point.
else with this new outfit they bought.
Shareholders have gotten slaughtered, to
say the least. The CEO keeps pulling in
more than a half million a year regardless. Many of these tiny outfits just want to keep the gravy train running, they know how hard it is to bring a drug to market.
One might wonder why you're even here. You are obviously smart enough to recognize this company as a scam, also smart enough to have sold your shares years ago to avoid losses. Why you keep such close track of this outfit and post incessantly about it is a bit of a mystery. You must have lots of free time I imagine.
What were the results? Did we peons get screwed again?
Not quite sure why you dont sell your shares, if you even own any, and be done with this company. I for one wouldnt be heartbroken if your clever wit was absent from this board
10,000 more shares for geert yesterday. Something may be happening.
28000 sh for geert now last month.
Are Frost and Opko also wasting their money trying to prop up the share price via retail investors? I dont think so. It is possible something good might actually come of this. I know it sounds crazy after all the dissappointments with this outfit, but something positive seems to be happening here.
Geert has bought 18000 sh in the last month. Not a huge amount, I know, but since he had'nt bought any in awhile, you have to wonder why all of a sudden he would buy some. If the company was headed down the crapper, you'd think he wouldn't be buying any.
Similarly, Dr. Frost did not get wealthy frittering away money on useless companies about to go under.
What does all this mean? I don't know. Just hoping for the best I suppose.
Well I'm feeling pretty good- my .915 buy order got filled, already about a nickel in the black. Not too shabby
I wouldn't wish a pullback on any on you longs, but I've got a buy order in at .915, just in case it pulls back to the 200 and 50 day ma's. we shall see
I was trying to add some in the low 80's in the past week or so, but just missed getting filled a couple times. Still a good trade, however.
Well I just sold my 88 cent shares for 1.09- I know there's probably more in it, but historically, when I get greedy it usually blows up in my face. Good luck all
Not a peep out of okaly the master chart reader today, what a shocker!
I love that great use of the word 'unctuous'- good stuff there MAM
Ino, I agree about the good news, this stock always sinks on good news. It's been just about cut in half since that 'wonderful' reverse split. On the other hand, I've heard this manipulation talk a million times, usually from disgruntled shareholders like us who are behind the 8-ball. So, how would the mm's manipulate this stock and for what reason?
This is the only stock in the world that sinks every time good news comes out...it's uncanny
I've been working around the cities for a few days now, happy to report the super America's seem to be doing a brisk business, although I myself prefer the holiday stores.
Dd, at what price have you been trying to buy? I've tried to get some at 3.50 with not much success.
Man, that reverse split really worked out well.