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yep, bought some shares today . weekly candle looks good right now
Jeff Kiley new video #3 ... not only we have to vote down RS but e should not stop until Kman is removed
https://www.youtube.com/embed/RVRtUGxxW1o
No need for dilution, enough money til 2019 , breakeven expected in mid 2018.
just read:
https://finance.yahoo.com/news/edited-transcript-idxg-earnings-conference-222238069.html
As a former 15% owner of CytRx and as one of the two largest CytRx shareholders over most of the past five years, I ask you to please vote AGAINST the proposed Reverse Split.
Management and the board are presenting this as a last ditch effort to avoid delisting of CytRx from the NASDAQ exchange. But this proposal is a Trojan horse, which also gives Kriegsman enough shares to sell to drag the share price down to 11.5 cents from the current 52 cents. This is just based on the math that a 1:6 reverse split will reduce outstanding shares to 27,638,000, out of 125 million authorized as indicated in the proposal. Selling off the 97,362,000 unissued shares will drop the share price to 22.1% of the current price. This, of course, does not take crowd psychology and depletion of cash through excessive compensation packages into account. Both of these factors would be expected to have additional negative effects on share values.
You may all recall that the whole delisting threat was caused in the first place by Kriegsman’s three most recent reckless dilutions, which increased issued shares from 68 million to 233 million (including options and warrants). Each share offering was preceded by a statement by Kriegsman to the effect that “the Company has sufficient funding for the foreseeable future.” Shortly thereafter, offerings were made at a steep discount to the market price, which was like Kriegsman saying “I know you all think CytRx shares are worth X, but I say they are worth 20%, 30% or maybe almost 50% less than that.” Then he sold the shares at such discounts, and the institutions which bought them quickly sold many of these same shares at a profit. This scene has been replayed multiple times, but our CEO has apparently never realized (despite being told) that this means that the Company could have sold the same shares on the open market, and retained those profits, instead of handing them to favored institutional buyers.
We can’t risk giving bad management more shares to squander. Delisting is not the best situation, but not the worst, either. And there is an advantage. As StrongBio pointed out, companies listed on the Pink Sheets are protected from short sellers. Since CytRx is one of the most heavily shorted stocks on both major exchanges, we may see a benefit once shorting is a thing of the past, with the share price reflecting the opinions of shareholders, rather than of stock manipulators.
If and when my recently filed derivative lawsuit against management and the board is successful, CytRx will likely have more competent people at the helm. This will tend to drive the share price upward as shareholders become more confident that their interests will be respected, that rules and regulations will be rigorously observed and that valuable assets such as Aldoxorubicin will no longer be bargained away for pennies on the dollar. Under new management, a reverse split can be safely reconsidered.
Thank you for voting NO! Please spread the word.
Sincerely,
Dr. Scott Patterson
Read the full text here:
https://www.facebook.com/VeracityInvestorsGroup/
Lawsuit against Steven Kriegsman is filed, to remove him
here you can read the filing:
http://www.stevenkriegsman.com/
that´s why an intelligent shareholder will vote NO to RS
Agreed,like I said yesterday, I loaded today , hope you guys loaded too
CYTR has atrading pattern , play it to make money. just take a look.
https://www.tradingview.com/x/yq1o8M4f/
Some posters here don´t wanna understand. FACT is: Proxy filing for RS is mandatory for an succesful appeal. when extension granted they have 180 days to bring pps above $1 for ten days. CYTR will have an additional 180 days to implement reverse split as a LAST RESORT. They don´t have to do RS immediately !! It is a possibility that NEWS will bring pps above $1. Of course no one knows for sure. TEK you are good in presenting speculative thoughts and ideas but you should know the FACTS when you are talking about something.
yep, because this filing of proposal of an RS will lead to an extension period of 180 days. of course it will take time until all of the SHs understand the meaning of this filing and that it is a prerequisite to make an appeal. in this 180 days of extension alot of things can happen. NDA filing, presentation of their NEW LADR drug, milestonepayments ... BO or merger .... no one knows ... But word will spread and tell all that there will be no delisting
TEK You are DEAD WRONG PERIOD ! Proposal of RS is a prerequisite for an appeal. THIS IS FACT!!! Sorry but do better DD or I can´t take you for serious ! Study the following site, category: continued listing, sub category price, click: search and read the answer to question 5. Read and then you know you shouldn´t talk about things you don´t know !!
there you can read:
"If a company is unable to resolve its bid price deficiency during the applicable compliance period, Nasdaq Staff will issue a delisting letter. At that time, the company may request a hearing before a Hearing Panel, which will stay the delisting.
The company will have the opportunity to present its plan to regain compliance to the Panel. This plan of compliance should include implementation of a reverse stock split in the near term. In appropriate cases, and so long as a company commits to implementation of a reverse split within 180 days of the delisting notification, Panels may also consider other factors, such as the company's fundamental financial strengths and weaknesses, the overall market, the company's historical bid price, and impending disclosures, corporate actions and strategic business plans that the company believes may impact its bid price."
https://listingcenter.nasdaq.com/Material_Search.aspx?cid=14&mcd=LQ&sub_cid=83
AGREED
in these additional 180 days we likely will see milestonepayments or maybe even a merger/buyout from a SOON company
A proposal for a reverse split is MANDATORY for an appeal of NASDAQ delisting over price. If the appeal is granted, CYTR will have an additional 180 days to implement reverse split as a LAST RESORT.
loading up to full position Monday or Tuesday
Agreed, I have done my DD, in at average 0,57 now.
I am loading up too GLTY
on ST there was a rumor yesterday of a Nant-Bios 3.20 per share buyout plus 11:1 in stock , don´t know who posted it first
Obviously Seeking Alpha allows some of his authors to spread lies. Why ???
SA headline is:"CytRx out-licenses aldoxorubicin to NantCell in deal worth up to $356M"
In the press release we can read:"CytRx will receive up to $356 Million in a Strategic Investment and Milestones in Addition to Royalties"
The headline of SA is not the truth and therefore it is a lie.
congrats to your strategy Blue - are you planning to buy back and if at what level
I hope we´ll get our PR tomorrow morning and maybe SEC filing too ,
On ST strongbio is hinting that big shareholders might be renegotiating the deal for better conditions. maybe just a speculation, I don´t know if he really knows something.
17 mill warrants at 0,50 allowing the owners to short without risk. when they are exercised the selling pressure will fade imo.
Agreed. Long and Strong !
Thanks POKERSAM for your good work here.
The P&F chart for the $SPX still shows a target above 1900.
I think SPX will go above 1900 before a bigger correction will start in April or May . What do you think about this. Thanks.