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That is the strangest release I've ever read. The subject was the acquisition of Projagg but what followed was a dissertation on the future of the real estate market. Give the facts then direct the reader to the company's website for additional information. Resources Unlimited, you reading this?
Excellent idea to have 20 people pay $6,300 apiece to learn the system and then have them source projects for you. The company should update the CUSIP in the latest quarterly report.
Mansonlamps, a question for you. If I come to this board looking for a possible investment and read your posts holding Danny and IR in a negative light, why would I invest? I am sincerely puzzled by the constant negativity.
I was not commenting on the contract but rather the possible reason for no widespread issuance. See message 12058. What I don't want to see is a release every time Danny has dinner.
IR firm suggests they would do more if able (waiting on 8-K)? I don't want to see puffery. When there is something of substance to report, then report it.
Have any details been given as to how the company makes money through the Projagg acquisition? Will participants pay a listing fee or do we receive commission on sales?
The ask has jumped up. A sign of something to come?
I took 5,000.
Company needs to update website on otcmarkets contact details.
Do you have a transfer agent for this company?
This release says nothing. They have to get better than that.
Company is traded Pink. Upgrade would be to OTCQB or OTCQX. These are still OTC Market.
Anybody have a transfer agent on this company?
Stalking Horse Bid
These bids only apply to Chapter 11 bankruptcy and would be initiated by the company hoping to maximize assets. RCPI has nothing of value. Dr. Mullan tried hawking the IP many times with no success. The company made clear they were open to Anatabloc being marketed outside the U.S. by any interested party. Again, no one showed interest. Jonnie Williams and Paul Perito are to blame for this fiasco.
PACER Account
Anyone wanting to follow the bankruptcy can create an account at pacer.gov. All filings will go through there. The case number is 16-12120. mctlp.com under the trustee tab will also have information when it becomes available.
RCP Development is a subsidiary company.
The Company is comprised of three entities, Rock Creek Pharmaceuticals, Inc. (f/k/a Star Scientific, Inc.), Star Tobacco, Inc. and RCP Development Inc. (f/k/a Rock Creek Pharmaceuticals, Inc.).
For a cash strapped company, the time and money spent on maintaining NASDAQ listing made no sense at all.
Form 3 was filed because he became an officer. There is no ownership of shares currently.
From the press release:
The Company also disclosed its dermatological development program in which dermal formulations of its lead compound are being developed for common chronic skin disorders such as psoriasis, eczema (e.g., atopic dermatitis) and rare or orphan skin disorders.
Chapman's contract ran through December. The company had to give six month's notice they would not renew. As it was a given he had to go, there was a savings of over $75,000 to do it now.
Nope.
During the three months ended March 31, 2015, we recognized $3.5 million gain on insurance proceeds related to settlement of litigation. We received such insurance proceeds in April 2015. We are using the proceeds to partially satisfy outstanding legal bills and indemnity payments relating to our class action and derivative litigation and other legal matters and to pay essential operating expenses, provided that, as described below, we do not believe that such proceeds (together with other capital resources) will support our operations beyond June 2015, and the insurance proceeds will not be sufficient to fund all outstanding legal fees and expenses relating to our litigation, which was $5.1 million as of March 31, 2015.
There's also an increase of 400k in insurance premiums.
Guardian Registrar & Transfer, Inc. and Holladay Stock Transfer are out of business.
Interstate Transfer Co. phone is not active and website no longer works. If anyone has info on them it would be appreciated.
Johnnie's Turn
On March 25, 2015, the Company received an email from an attorney representing Jonnie R. Williams, a former director of the Company and the Company’s former Chief Executive Officer, stating that Mr. Williams is contractually entitled to severance compensation. In such email, the attorney requested that the Company immediately contact the attorney to discuss such alleged severance entitlement. The Company did not contact the attorney, and the Company has not received any further communications from the attorney. Mr. Williams voluntarily resigned from the Company in August 2014, and the Company is not aware of any basis, whether under Mr. Williams’ prior employment agreement or otherwise, on which Mr. Williams would be contractually entitled to severance compensation. In the March 2015 email, Mr. Williams’ attorney did not identify any specific contractual provisions that would entitle Mr. Williams to severance compensation. There is no assurance that Mr. Williams or an attorney acting on behalf of him will not in the future seek to pursue some sort of contractual severance compensation claim in the future.
His photo is on the company's website under, hee, hee, "Leadership"
Chapman, Just Go Away
Our do nothing President has now decided he has claims against the company for breach of employment and discrimination? At least we now know he was behind the premature filing.
Scottrade refunded the fee in both my accounts. It costs nothing to ask.
The Company’s board of directors has authorized an independent inquiry into the premature IND clinical hold response filing in February 2015 and has placed Dr. Christopher Chapman on paid administrative leave pending the completion of that inquiry. However, as of the date of this Form 8-K, the Company has not concluded that Dr. Chapman or any other person has taken any improper action.
I called Scottrade and wasn't able to speak to my local office so I transferred to the National Office. The explanation given was DTC charged the $20 fee which was passed on. He tried to tell me the fee was because they had to send the certificates to DTC and receive back new ones. I told him DTC is book entry and just needs to adjust the positions. I'm not even sure RCPI is certificated. The rep said he would pass this along to the local office and see if a one time reimbusement could be made to my account.
Reorganization Fee?
Scottrade charged my account $20 labeled as this fee. Anyone else receive a charge?
26,507,136 for 27,859,043 against. Hopes he takes the hint.
Approval is for the range of 1:5 to 1:25. Actual rate to be determined by the BOD if necessary. The whole purpose was to satisfy NASDAQ. Anyone know if Chapman was at the meeting?
JW's had to have sold to be under 5% now. The last accounting was in the DEF 14A filing Oct 17,2014. He had 10,461,703 shares and 5.21% ownership. PV Partners LP is listed in the March 13, 2015 filing with 10,721,693 shares and 5.38% ownership.
The Gang that Couldn't Shoot Straight
McDonnell gone? Who cares. See his email, he wants forwarded all the compensation he "earned."
Chapman was/is still getting paid. He deferred the $75,000 raise he was scheduled to get last December. Still makes due on 300k. Two days before the ASM and it's revealed (Chapman and McDonnell, IMO), filed a response to the FDA without telling anyone else? It should be no mystery why any real company wants to work with these guys.
According to the latest 10-K he owned 17,486,210 shares or 8.5% of the company which made him the second largest holder.
Breathing Room
Message from NASDAQ. We have until September 21 to regain compliance.
A sign of progress then. I have been checking the website and never saw that the first study was fully enrolled. Updates from the company would be helpful as phone calls go to voicemail. Thanks for the clarification.
Clinical Trials Delayed (UK)
May 7th is the new start date. They couldn't find enough volunteers. Since there's no PR maybe the company will be good enough to inform the shareholders what's happening with the company in a month.
Johnnie's got the ecig business.
http://www.styleweekly.com/richmond/jonnie-williams-next-idea/Content?oid=2162335
Again, and for the last time, it is neither an assumption or an uninformed opinion. I quote form S-1: "From the introduction of Anatabloc® to the date of its discontinuance in the U.S. market, our revenues were derived almost exclusively from the sale of our anatabine based dietary supplement products and, more particularly, Anatabloc®." You will never see Anatabloc marketed in the U.S. by the company again.