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"an illegal scheme by a group of predatory investors utilizing facially despicable methods"
And goes on to explain that, in addition to allegations involving violations of federal securities laws:
"this group of investors misled Plaintiff Fisher through an investment scheme designed to divest Plaintiff of all the economic rights and goodwillbe had built through his company over the course of the previous 22 years"
"the immediate financial motivation in taking a legitimate economic contributor is to turn it into an investment vehicle in which they will pump up the stock price, and then proceed to sell off the shares, without regard to the well being of the business."
"violating the Racketeer Influenced and Corrupt Organizations Act forengaging in a pattern of similar behavior against other companies."
"This lawsuit is remarkable, and I strongly encourage you read it. This case seems to have also been shuffled around so it's not clear what the ultimate resolution was for poor Daniel Fisher. Unsurprisingly, Biozone seems to have been a wipeout for original investors as the stock imploded -80.62% over the time frame below and was sued for"breach of fiduciary duty" after basically all of Biozone's important assets were transferred to another
Dr Chain is a brilliant scientist that has made serious contribution and will continue to do so,and his original financial backer has helped create many successful pharmaceutical companies.
Vio pharma deal with Intellect neuroscience was organized by Dr chain and his number one investor.
Other important agreements were made with GSK and PFF, thanks for these two hard working individuals.
I have a clue to the puzzle, I. Hope you can figure it out.
When the Vio pharma deal was done pr work was done by an associate of Eliat
,who got paid six digit figures,to help close friend not the company.
Pr man got paid and the Florida seller too, all of them close friends of Eliat.
In the process share values went down.
The sellers from Florida made huge profits at the expense of other shareholders.
In my opinion Eliat does not have what it takes to put big deals through, so for now we are stuck.
There are a lot of unknowns.
Huge sale orders from Florida is depressing share values.
Eliat can fool people once but not all the time.
Maize's should not have pushed out the scientist by organizing intrigue like an opportunist politician. Perhaps he learned that from Chris Christie.
Dr Chen played a key role in developing the science.
To sell or to market the science, Maize does not have the ability to explain like the scientist can. A law degree he has but his management skills are questionable.
He is trying to benefit himself and close associates at the expense of David and small common shareholders.
That might lead ???
In the end it is not about being brutal but about being fair.
Maize has fiduciary responsibility to inform how he earned those shares, since this is a public company.
I met the scientist and the CFO nine years ago. The scientist impressed me as an achiever. His commitment to help Alzheimer's victims gave me hope for future patients . Even though it was too late for my architect friend who died young.
I like to bet on long shot horses at the race tracks when the information is convincing.
I am waiting for a similar situation here. Congratulations for being clear headed now. Soon you will be able to figure out the big puzzle yourself.
"For one, the whole acquisition of Spiral Energy appears to be shrouded in mystery. As we mentioned already, when they first announced it, DROP said that with Spiral on board, they will be “expanding the operations”. Just a few days later, however, the former management team resigned and left the company in the hands of the people running the new subsidiary. Not surprisingly, people are now wondering whether they're invested in a biomedical or a renewable energy company and the whole uncertainty is apparently making them nervous.
Speaking of uncertainty, the press release about the reorganization mentioned a $1.6 million financing agreement but somehow, it failed to give us any details on how it will be completed."
On Eliot I think he is smart CFO good for reaching goals in the short run, but not a visionary in the long term sense.
I do not believe he is but even if true being brutal is not an asset but a liability.
He pushed the scientist out for selfish reasons not to serve shareholders interest .
As a consequence we already took a hit even me a small shareholder.
I will be watching like a hawk and relate secret plot they are engineering to the public, stay tuned!
"This was like taking candy for a baby (Old vs New controllers) and these guys are good at this game better then I care to admit. "
It remains to be seen!!!
The science behind it has been verified by leading researchers.Now on the R/S I am putting all the clues together to figure outt the puzzle. When I am done I would let you know.
"I recently established a position in BioZone Pharmaceuticals (BZNE.OB) based on the company's undervaluation, its patented QuSomes technology, and the fact that Opko (NYSE:OPK) and Dr. Phillip Frost have taken a 25% position in BioZone. (All of my Dr. Frost investments have provided large returns.) BioZone's strong patent portfolio, multibillion-dollar addressable markets, and current revenue stream, make it an ideal asymmetrical trade, with large upside potential, and limited downside risk."
"By Beth Winegarner
Law360, San Francisco (February 12, 2013, 7:54 PM ET) -- A California federal judge on Tuesday refused to toss a pharmaceutical company founder's $30 million lawsuit claiming BioZone Pharmaceuticals Inc.’s investors illegally stripped him of the company, saying the founder’s employment and stock-sale agreements with BioZone are too ambiguous to show the case could only be brought in New York court."
I have been watching Barry Honig for the last 5 years. He is the master of the pump and dump scheme. Barry doesn't care about anybody, just lines his pockets. I hope Elliot will meet his fiduciary responsibilities because as a shareholder I will hold him accountable. I have enough beef for the SEC. Just like his friend, I can be a whistle blower.
"Intellect Neurosciences has its origins in some of the earliest pioneering work that stimulated the development of the potential disease-modifying monoclonal antibodies that several global pharmaceutical companies have been testing as treatments for Alzheimer's disease"
I hope it is G kosher party! OR. (eliot+berry)>? = SEC
"While digging, my shovel hit a new investment.
Now, I will admit, it took quite a bit of filtering to narrow my investigation to a single company. Honig and his related investment vehicles are buying and selling various securities on a daily basis. His SEC record is extensive, to put it mildly, and sorting through the noise of his thousands of filings was no easy task. Perhaps (I laughingly thought in exhaustion), Honig hides his footprints on purpose, or perhaps it is simply standard practice to trade this often. Regardless, it took me a while to figure out where the majority of Honig was ultimately routing his money."
Go ILNS ! $$$
Brauser, honing = no moral or fair play back stabber!!! Eliot I have substantial investment !!!
Go ILNS $
The only "Scandal" was David Blach being put in prison ???
I put my hard $$$$$ - = ILNS !!! $$$
Go ILNS!!
StockdungU Saturday, 11/09/13 06:20:35 PM
Re: war eagle post# 59922
Post # of 84648
Tuffin in the deal so if FUSE defaults he walks away with all the assets of FUSE with the 60 day investment group.
The investment group has money for advertising and product. Tuffin remains running company.
Shareholders get shaft.
Thats the way I see it.
Tuffin should watch out to. Take a look at what they did to Daniel Fisher
BioZone Founder's $30M Suit Survives Forum Challenge
By Beth Winegarner 0
Law360, San Francisco (February 12, 2013, 7:54 PM ET) -- A California federal judge on Tuesday refused to toss a pharmaceutical company founder's $30 million lawsuit claiming BioZone Pharmaceuticals Inc.’s investors illegally stripped him of the company, saying the founder’s employment and stock-sale agreements with BioZone are too ambiguous to show the case could only be brought in New York court.
When BioZone Laboratories founder Daniel Fisher sold shares in his company to investors with Brauser Honig Frost Group, the parties entered a stock-sale agreement and an employment agreement that would provide Fisher with a job at the new BioZone Pharmaceuticals, according to court documents. Although both of those agreements contain forum-selection clauses, only one clearly requires cases against BioZone to be filed in New York, U.S. District Judge William Alsup ruled.
“These two agreements, when considered together, were ambiguous and it would be improper for this order to dismiss at this juncture,” Judge Alsup wrote. “Defendants, however, may renew their motions for … dismissal after discovery into the inclusion of the forum-selection clauses.”
BioZone intends to pursue that discovery and is confident that Judge Alsup will ultimately grant the motion, said Paul Sievers, attorney for BioZone Pharmaceuticals and for BioZone CEO Elliot Maza, investors Michael Brauser, Barry Honig and Phillip Frost, and two others named in the complaint.
However, Fisher's attorney, Darcy Paul, said he was pleased with Judge Alsup's ruling and didn't see how BioZone's next motion for dismissal on the forum-selection clause “would be different from what they propounded here.”
Fisher founded BioZone Laboratories in Pittsburg, Calif., 22 years ago; the company manufactured a variety of products, including liquid cough and cold medicines, acne medications and cosmetics, Darcy Paul said. In 2011, the investors approached Fisher about purchasing the company; after six months of negotiations, they agreed to buy all of Fisher's 6.6 million shares, 80 percent of which would be returned to him five days after the deal closed, and 20 percent of which would remain in escrow, according to his complaint.
Instead, none of Fisher's shares was returned to him, and he was never paid market value for them, the complaint said. The investors also never made good on an agreement to make Fisher an executive vice president of the company, it said.
Fisher is seeking triple damages on the more than $30 million in shares he says he lost in the deal, according to Darcy Paul. His lawsuit also accuses Brauser Honig Frost Group and its investors, many of whom became executives at BioZone Pharmaceuticals after the sale, of violating the Racketeer Influenced and Corrupt Organizations Act for engaging in a pattern of similar behavior against other companies.
“We describe [several] other suits against these defendants, either one or a group of them, in which a similar set of behaviors occurred,” Darcy Paul said. “This looks like a scheme.”
Fisher's lawsuit “looks only at one side of the story, which is not my clients' position,” Sievers said. “We have a different view of the facts.”
Daniel Fisher is represented by Darcy Paul of Paul Law Group PC.
BioZone Pharmaceuticals is represented by Paul Johnson Sievers of Manly & Stewart.
The case is Fisher v. BioZone Pharmaceuticals Inc. et al., case number 3:12-cv-03716, in the U.S. District Court for the Northern District of California.
--Editing by Jeremy Barker.
Friedreich's ataxia (also called FA or FRDA) is a rare inherited disease that causes nervous system damage and movement problems. It usually begins in childhood and leads to impaired muscle coordination (ataxia) that worsens over time.
"I made big big red letters to show you where this 120 million figure chatter came from. It was chatter/narration from the company about a prospective market. It's no different than what mining companies do (give the maximum yield numbers). "
"The Orphan Drug Designation program provides orphan status to drugs and biologics which are defined as those intended for the safe and effective treatment, diagnosis or prevention of rare diseases/disorders that affect fewer than 200,000 people in the U.S., or that affect more than 200,000 persons but "
200,000. = $10,000 per patient , per year = ????????
Pfizer to destroy the tiny biopharmeceutical company, Intellect, by withholding a milestone payment stipulated in an agreement with Intellect for the licensing of the patent for the compound ponzumab!!! $$$$$$$$$$
barry hard earn $$ ????. elliot let see !
NOW LET's TALK ABOUT DAMAGES!!! What comes to mind is there has been some corrosion of value with the dilution,
"huge losses. As far as one saying that I'm screaming the sky is falling...that is absolutely laughable...lol. A 1 for 50 RS, adding almost 600 million shares to the OS, squandering the upfront payment from Viopharma, and now a 1 for 250 RS on the horizon, has not let the sky just fall...it has let it crash..."
This is Eliot (mistake) !? and barry benefits !!!!!! ?
???????? ( 1 for 50 RS )
Go ILNS !!! $$$
I know Maza and have no reason to suspect that he would do anything but what's in the best interest of himself & ??????
Pfizer caught in deceiving the innovator,the financier of this gem and the various intelligent investors in ILNS. I have much respect for this board contributors.
I am following the ongoing act very closely. hope Elliot is supporting Shapiro without any different motive or agenda because eagle eyes are watching from every angle.
You know CDXC is confounded by David but there is a sad story in here. The two guys from (florida) have relation with Elliott; I hope it is kosher because I have invested in ILNS.
Go ILNS !!! $$$
Please keep on top of your contacts. Your information is solid. As I know both David and Isaac, I don't want to lose their confidence.
I researched what you wrote regarding the ongoing "tolerability trial of Bapineuzumab" being done in three European countries. I followed all the links and learned the buck stops with Pfizer. They are behind these trials. I plan to bring this to the attention of Shapiro before July 1. Nice find!
You are talking the best case scenario and of course we are all rooting for that. The way to impact the PPS for the public shareholder though, is to unite and have a voice in whether or not the percentage the public holds, be it 10 per cent or whatever, is diluted or not. If the best case scenario you speak of does indeed occur, it's not going to mean much for us if we are diluted. Where are the funds for the company coming from right now? And how are they being dispersed? Are they toxic for the public? We can't wait and possibly be victims; we need to be proactive.
I appreciate the tenacity you show in your efforts to help Intellect.
AstraZeneca is on a shopping spree. Shire is in negotiation to buy NPS for 5 billion dollars. Bristol Meyers is a contender. Also GSK. Even Pfizer. There has been a lot of interest in Intellect by the bigPharmas. What's scared them away is the "penny stock" stigma. With new management , I hope there will be changes which will make Intellect more attractive to bigPharmas. The coming 6 months will be very revealing. We will see how they are going to play their hand. We will see how much value they put on cap structute, promotion and continued R&D. With the right moves, Intellect will move.
Shaka, I respectively disagree. The capital structure of the company directly effects how the money is divided up. I know this all too well from experience.
GO ILNS !!! $
I've been concerned about the funding of Intellect. David has been the funder and fundraiser for Intellect for the past 8 years. With him behind bars, who has replaced him in this role? Who is funding Maza's salary, the patent fees, etc.? How will Intellect continue to sustain itself? This should be a concern to all common shareholders because this could very much impact how much money will be dispersed to the public shareholders in the event of a sale to a bigPharma. I strongly believe we have to email Maza and put pressure on him to make sure he is on top of this. We need to make him aware that we are trusting him to meet his fiduciary responsibility and will not allow any dilution of the public's percentage as he secures money for the companies sustenance. I intend to write him and I encourage everybody to do the same.
I know AstraZannica is looking for a partner for their Alzheimer's pipeline. intellect would be a good fit. Hopefully this Pfizer fiasco will bring attention to Intellect. AstraZannica has had serious problems with Pfizer too.
Go ILNS !!! $
I am all for CereSpir and Intellect coming together. The shareholders don't have any say in that. I am sure the powers that be (at least on the side of Intelllect) will like that to happen. It's Chain who has to sign on. I hope we will hear good new regarding the deposition soon.
I just hope that with whatever funding Intelllect accepts, the percentage of shares that the public holds, will not get diluted. I don't know Maza and have no reason to suspect that he would do anything but what's in the best interest of the public. GO ILNS!!! $
Deals, Since you have offered access to funding to Maza, he has a fiduciary responsibility to every shareholder. I hope he will meet his ethical duty. How could it be that they don't need money. They were not able to publicize Pfizer's defeat in their order to dismiss; and other patent developments. Even the GSK.
Or maybe we should hire Sherlock Holmes.
The company has to save their money's to report on what's really meaningful. All announcements cost money and Intellect is not flowing in it. If you really know investors who want to help finance the company, now is the time. David was the one financing the company and he can not do it anymore. He was the one who financially enabled the mult-billion dollars patent portfolio. Unfortunately he can not sustain it. The patent fees, and patent lawyers, and filing fees continue to exist. Investors are needed and, indeed, a few have stepped up to sustain the company, and at a price. They will, no doubt, be entitled to large percentages of the company and David's holdings wil no doubt be diminished. I'm speaking from logic, and this has not been confirmed. If you want to participate, you need to act quickly. The window will no doubt be closing soon.
GSK Option and License Agreement - ANTISENILIN. On April 29, 2009, we entered into an Option Agreement (the “Agreement”) with Glaxo Group Limited (“GSK”) regarding an option to purchase a license under certain of Intellect’s patents and patent applications (the “Subject Patents”) related to antibodies and methods of treatment for Alzheimer’s disease.
Pursuant to the Agreement, we granted GSK an irrevocable option (the “Option”) to acquire a non-exclusive, royalty bearing license under the Subject Patents with the right to grant sublicenses, to develop, have developed, make, have made, use, offer to sell, sell, import and have imported Licensed Products in the Territory in the Field (as such terms are defined in the Agreement).
Upon exercise of the Option, GSK will pay us two million dollars ($2,000,000). In addition, upon the later of the (1) exercise of the Option, and (2) grant in the United States of a Licensed Patent with at least one Valid Claim that covers a Licensed Product incorporating a GSK Compound in the Territory in the Field (as such terms are defined in the Agreement), GSK will pay us an additional two million U.S. dollars (U.S. $2,000,000). An additional milestone payment will be made to us should GSK achieve certain thresholds for aggregate annual Net Sales for any Licensed Product in countries in which there are then existing one or more Valid Claims covering the Licensed Product.
Alzheimer's Research & Therapy 2014,
Modulation of beta-amyloid by a single dose of GSK933776 in patients with mild Alzheimer's disease: a Phase I study
ISSN Article type Submission date Acceptance date Publication date Article URL http://alzres.com/content/6/2/19
1758-9193
Research
13 December 2013
17 March 2014
9 April 2014
There are other factors that play a role in the equation. Talking with Chassman would be helpful. Maza is now the full time CEO and CFO. He has the ability to give you her contact information. Since you are doing good work for the company, he may be agreeable. If you are not successful, let me know.
Meyer Blech, father of David, was successful in the financial industry and served as a Rabbi. He was a US Army Chaplain during the Korean War, and served as a Chaplain in the VA for 25 years in NYC. Being Orthodox, he walked every Saturday to work. Since it is Memorial Day today, I wanted to take the time to honor him. Happy Memorial Day.