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You need to relax a little bit. Greg has only been CEO for a few years. It takes a little time to generate restated financials. Among other things, it involves multiplying outstanding receivables by a number (in this case, 0.0000000) that represents the percentage of outstanding receivables that is actually recoverable.
Multiplying two numbers together may not seem that difficult, but you have to remember that one of the numbers ("outstanding receivables") is quite large.
Proof positive is that someone bought/sold 2 million shares!!!
I wonder how many shares of Bear Stearns were bought the day it declared bankruptcy?
I'm pretty sure the only reason that PXYN shares are being bought is because people with inside information about the greatness of PXYN's financial state are illegally scooping up cheapies based upon that inside information.
After all, what other explanation could there POSSIBLY be?
There's obviously no way that it could be the perpetrators of this scam moving shares back and forth between multiple accounts in order to get gullible fools to say "millions of shares traded, there's life in the old girl yet!!!".
PXYN to da MOOOOONNNNNN!!!!!
I expect those updated financials to be released very soon, possibly this afternoon. I think it normally takes around two years, so any day now.
Because it proved to be nothing the LAST dozen or so (two dozen? 50") times you made similar "hmmm, I wonder who's buying if this company is as bad as the intelligent posters on this board say it is?" posts?
Actually, when I see it in writing like this, it makes sense to me also...
Thanks for sharing your DD. It's especially credible given your DD has previously revealed that:
1) TPS was "created to take PAWS public"; 2) The $200M contract with NHS was totally legit; 3) P4D would generate $200M in WC business; 4) PPO business would take PXYN to the next level; 5) PXYN was in negotiations to purchase several pharmacies years ago; 6) New products would take PXYN to the next level; 7) TPS was an ideal partner; 8) P4D was an ideal partner; 9) Ed Kurtz would take PXYN to the next level; 10) Greg Sundem would take PXYN to the next level; 11) Insurance companies were NOT going to stop paying insane amounts of money for compounding medications; 12) PXYN is a viable company; 13) PXYN will never trade below .03.
MACD flattened at EOW. I will be watching for MACD to start curving north, and that would be my buy signal if I wasn't already loaded to the teeth in this monster!
"Monster"???? ROTFLMAO!!!!
Congratulations on a fine effort! That's $1.50 well-earned!!
MM's are clearly OUT OF SHARES and our little gem is now POISED TO RUN HARD!!!
Congratulations, my fellow longs - looks like we were right all along!!!!!
I'll check back in two days and see whether we are just trading above .005 or if we make it all the way back to penny land.
Well, I forget to check back in on Friday. And, in fairness to PXYN, it did close Friday at .004 and a LOT of shares did trade hands well above the .003 that PXYN was at when I made the above post.
But THREE days later it's back to .0023.
As everyone with half a brain knew it would be
I know one poster said he/she took advantage of the spike to get out. I hope others did as well.
Yes, I am sure that when "the filings" hit formally confirming massive debt, virtually non-existent sales, and restatement of previous financials...
PXYN will return to the gaudy price levels it was at the LAST time it released filings falsely trumpeting tens of millions of dollars in non-existent sales and millions of dollars in non-existent profits.
Let's see, when was that date?
Oh yeah...2015 Q3 was filed on 16-Nov-2015. Has it REALLY been ALMOST A YEAR since PXYN last released "the filings"????
I have been monitoring the parking lot closely for several weeks now and I confirm that PXYN is still a viable and in fact booming business, albeit one with odd "traffic" patterns - patterns that I suspect reflect a transformed and likely MUCH MORE PROFITABLE business model.
In order to be as inconspicuous as possible, I park in front of the Subway store NEXT TO PXYN rather than in front of PXYN's office itself.
I can confirm that there is a LOT of in-and-out traffic that consistently increases DRAMATICALLY in the 11:00 - 1:00 and 5:00 - 7:00 periods. During these four hours, a LOT of cars can be observed coming into the parking lot. Individuals typically leave their cars empty-handed, then return a short time later clutching a bag - and frequently sipping from a drink container.
This STRONGLY suggests to me that PXYN 3.0 has now "eliminated the middle man" and is selling directly to consumers of its highly-regarded compounded medications. The bags these people are holding presumably contain PXYN products that have been PAID IN FULL AT TIME OF PURCHASE VIA CASH OR CREDIT CARD or BILLED TO INSURANCE COMPANIES THAT PROVIDE PROMPT PAYMENT at GENEROUS REIMBURSEMENT LEVELS. The drinks people are holding suggests that PXYN is using innovative marketing techniques - e.g., "buy two or more tubes of PXYN compounding pain medication and receive a FREE DRINK!".
Was the question in this post was ever satisfactorily answered????
Lighthouse Friday, 07/24/15 01:32:30 PM Re: namtae post# 37880 Post # of 59397
Lol... So when Q2 shows net profits of $3-5 million or more cause we know it's projected to be over $18,000,000 for the year.... Will you still be preaching scam??? Oops... 9143 sq ft, over 100 employees soon, multiple lab shifts working to handle sales demand.... Please explain to all how this is a scam??? Oops...lol
This stock has lost over 99% of its value since it traded at $0.24. And it DID trade at $0.24 - sorry, but changing the name of the company and its ticker symbol doesn't make it a different company. If you formerly had shares of PAWS, you now have shares of PXYN (assuming you were foolish enough to hold). 'Nuff said about THAT.
It recently fired its CEO.
It's management can't pay itself.
It has no cash and some unknown (but very, very large) amount of debt.
It's original WC marketing partner (TPS) and its CEO (Garbino) are being sued by the government. Garbino was a PXYN board member.
It's subsequent WC marketing partner (PFD) is no longer a partner because PXYN could not pay it.
It's PPO marketing partner (NHS) is no longer a partner because PXYN could not pay it. The contract with NHS, which suggested that NHS would generate $250M+ in annual PPO revenue, was obviously a sham - and of course was subsequently proven to be a sham.
As far as we know, PXYN has no sales partner and is generating no revenue.
No one on this board had ever heard of the new CEO before he became the new CEO.
The new CEO promised that updated financials would be released months ago and that the company would be much more forthcoming with shareholders. Updated financials have NOT been released and the company's ONLY communication with shareholders has been to tout the pending release of updated financials and its commitment to open communication with shareholders.
I agree with you that, given all this information, PXYN is obviously a screaming buy. I am just wondering if our reasons for BELIEVING it is a screaming buy are the same. Here's are my reasons:
1) The share price is still above "the trips".
2) Volume isn't zero.
These are my reasons for believing that PXYN is a compelling value at these prices. Are yours the same? I'm guessing they ARE, my brother man! And I HOPE they are, because that would make me feel even MORE confident about my substantial investment in PXYN!!
I was wrong when in this post (dated June 7, 2016) I suggested that PXYN's price would rise and tried to fire up the troops:
Ask creeping up now...
People desperate to buy cheap shares of PXYN will have no choice but to ASK-SLAP as no one is willing to part with any precious PXYN shares at these ridiculously low levels.
Back up the truck, it looks like we've bottomed and are ready to EXPLODE higher!!
Pete, please post a chart.
Couch, please provide an RSI update.
Drugdoctor, please supply us with your estimate for the true value of PXYN shares based upon the most recent information available.
Lighthouse, please provide updates on PXYN's plans to introduce new products, obtain new sales partners, and acquire other pharmacies.
Neophyte, please provide an inspiring "I think PXYN will rise sharply, if not this week then next week for sure. We shall see." post.
$$$$ PXYN STRONG $$$$
$$$$ PXYN - ALL GAIN, NO PAIN $$$$
$$$$ PXYN - TPS WAS CREATED TO TAKE PXYN PUBLIC $$$$
Market is speculative. Once the skeletons in the closet are removed and out in the open. New hopes of progression and perspective of PXYN on the "up and up" will transpire considering that this new CEO seems to be communicative (aka bringing hype and MOMO back to the stock). May not be long-term up for longs to regain their losses but will offer at least a bounce. Long term rise can happen if they are able to secure a lot of PPO revenue. Which has been accomplished in the past, but gains were cut due to the old CEO's stupid marketing partnership deal he struck.
The market is speculative, and it is certainly possible / common for OTC stocks to be grossly overvalued. So on the surface of it, arguing that PXYN's share price might spike because the price of many OTC stocks spike is not necessarily irrational. But in PXYN's case, it just ain't gonna happen.
OTC companies that are grossly overvalued are usually grossly overvalued for a combination of reasons, including but not limited to: Investor stupidity (certainly present here), manipulation (not really present here), gaudy / misleading sales figures (formerly present here), a great "story" (formerly present here), and a lack of transparency into the companies revenue and finances (not really present here, and that's the problem).
At this point, rational people KNOW that PXYN's sales figures were phonier than a two-dollar bill. You don't do $200M in sales selling product that cost $10M or so - AT MOST!! - to produce and yet be unable to pay your bills, or your own management. YOU JUST DON'T.
AT this point, rational people KNOW that the products that PXYN produces are nothing more than glorified Bengay, and that these products may - OR MAY NOT - work better than Bengay. They also KNOW that PXYN's products are specifically formulated to maximum the amount that they can bill insurance companies and WC organizations, based upon billing rates provided by those insurance companies and WC organizations. They also KNOW that those insurance companies and WC organizations recognized that they were essentially being defrauded companies like PXYN and have taken the necessary steps to STOP being defrauded by companies like PXYN. That is why PXYN no longer has WC revenue, or PPO revenue, or any money. And why it has massive debts, and can't pay its management, and needs to - BUT WON'T - restate historical financial results.
PXYN's biggest problem is that it has released financial information, so intelligent investors KNOW that it is a "dead man walking". If PXYN had never released financial information, its stock price might very well be much higher know. After all, ignorance is bliss.
At this point the WORST think for PXYN longs would be for PXYN to get current with its filings. You may THINK PXYN can reveal that it has $20M in debts, $1.75 in cash, A/R worth $10.50 or so, and zero revenue, and that its stock price will rise by 500% or so because "the market is speculative, and the skeletons in the closet are removed and out in the open". But it won't. It will just, finally, bring the long-predicted and completely inevitable trips, with BK just around the corner.
Once they become current and communicative again this should see higher support. Pending that the lawsuits have settled in decent terms should loosen the selling pressure as well. The day the market found out that TPS quit and was suing PXYN dropped the price 50% on fears of over $70 million was to be paid to them.
If the settlement was any indication of what we've heard that loss should be marginal if any loss at all. The stock will have air to breath and be able to actually move up given good operations and cash flow from new management.
Regardless, once filing is current and management is transparent the stock should see some technical movement up IMO. Flip or hold, this stock has been repressed for a long time.
Oh, for gosh sakes.
Massive debt, massive losses, no money, no sales, management isn't getting paid.
But "once they become current and communicative again this should see higher support", and "selling pressure" should lessen.
IF they become current, their massive debt, massive losses, and lack of sales will simply become a matter of public record.
Why in the world do you think that will be GOOD for stockholders????????
Young aggressive man climbed the corporate ladder. Each job shows a trend in salary as well, the CFO job is a very prestigious role, usually paying 6 digits up to $500k as a rookie. I wouldn't knock his 1-2 year, too many jobs just yet. Seems this young man has a plan and he's following it.
Yeah, it's just too bad he's not actually getting PAID, let alone collecting a $500K salary....
During 2015, we generated a substantial working capital deficit. We are delaying the filing of our Form 10-K in order to finish reorganizing our operations in order to dramatically reduce our deficit. Prior to the release of the Annual Report, we have or will have:
Negotiated settlements with our vendors to reduce our marketing related debt by at least $5,000,000; Reduced inefficiencies in executive staff in order to massively reduce overhead, cutting more than $500,000 in annual payroll, and currently myself, our CFO/COO and our General Counsel/Secretary are deferring salaries until the company’s overall cash flow is improved; and Written down certain other assets, in order to eliminate any 2015 income tax liability.
I believe it would. And I think we will see those filings soon DD.
PXYN$$$$
ROTFLMAO!!!!
It would sort of depend on what was IN the filings, dontcha think?
And why exactly do you think you will see filings soon? Because you expected it would take the new CEO four months or so to start releasing them all along???
Let's be realistic here. Back when PXYN actually had sales, it sold what is essentially Bengay. The main differences between Bengay and PXYN's products were:
1) The active ingredients in PXYN products were prescription drugs. I suppose that since they WERE prescription drugs they could have been stronger and hence more effective than Bengay.
2) PXYN products were specifically formulated to contain as many prescription drugs as possible in order to massively overcharge insurers as much as possible.
For all practical purposes, PXYN has NO assets other than its A/R. No cash, no property, minimal equipment, no intellectual property, etc.
Restating financials is hence primarily a matter of marking down A/R to the appropriate level. The appropriate level is almost certainly really, really (REALLY, REALLY, REALLY!!!!) low. Hence the markdowns will be massive, resulting in PXYN showing massive losses in 2015 rather than profits.
Per previous filings we KNOW that PXYN has a lot of debt that it cannot repay. Marking down the value of A/R will presumably reduce those debts. No profit = no taxes, for example. And obviously if the collectible portion of historical A/R has heretofore been grossly overstated, the amounts that sales partners should receive for those referrals is grossly overstated as well. But it would likely require lawsuits to get their sales partners to acknowledge that. And what does it really matter? "No cash" is "not enough cash to pay debts", regardless of whether "debts" are $50M or "only" $10M.
And here's the thing: Restating financials is primarily a matter of marking down A/R to the appropriate level, and it shouldn't take very long to establish that level. So the fact that you are currently expecting to "see those filings soon" makes it very likely that you will NEVER see them - since you SHOULD have seen them MANY MONTHS AGO.
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