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You are not the moron. It is indeed $94.00.
The float is 100% at 205M. GC just said so.
The authorized is at 250M.
The board of Infusion 51a deemed his interest in Vivacitas that he exchanged for those shares to be worth $1,284,497.
So he used $1,284,497 worth of Vivacitas shares to buy them. At the closing price at the time - around $0.04 a share.
You are full of it.
You think a public company director is going to risk his career and future by violating Reg FD and disclosing this information to you - and only you?
Puh-lease.
Hi Joe.
Just wondering if you are still an owner and following AMBS.
Any thoughts?
Your last post seems to conflict with this prior post. Can't seem to make up your mind.
You will only know for sure when they file a definitive proxy with the SEC. So far, all they have filed is the preliminary one.
So no definitive dates have been set yet.
If this were true, there would be almost no Series E outstanding.
False.
You talk a lot for someone who knows nothing. Go read the agreement with Lincoln Park. The stock must trade over $1.
This if from the 10K.
Lincoln Park Capital
In March 2014, we entered into an agreement with Lincoln Park Capital Fund LLC (“LPC”) for an equity financing agreement. LPC is obligated to purchase up to $20.0 million of the Company’s common stock from time to time over a 30 month period, in amounts up to $0.5 million per sale as directed by the Company and subject to certain requirements, restrictions and limitations. There are no upper limits to the price LPC may pay to purchase our common stock and the purchase price is based on prevailing market prices of our stock at the time of sales without any fixed discount, We control the timing and amount of any sales to LPC In addition, we may direct LPC to purchase additional amounts as accelerated purchases the closing price of our stock is not below certain threshold price. We filed a registration statement with the SEC covering the shares issuable to LPC. As of December 31, 2015, we had approximately $17.3 million available to us under the agreement.
The stock is trading around $0.06 and the minimum threshold price is now $1. Again, go read the documents before you post the wrong information.
The minimum price was $0.04 a share. After the split, it adjusted to $1.
AMBS shares must be trading above $1 for them to have the right to require Lincoln Park to purchase shares.
So the agreement is meaningless until that happens.
He never saw that the CEO would switch to ESS???
ESS is Rubenfeld's baby, not Gerald's. Rubenfeld was on the board of Regenicin. He is the one pushing ESS.
Management knows how many shares of preferred each of them have left. And the assumption is that each of them hold zero (O) shares of common. (Because they sell every last one they receive.)
Where did I defend Gerald for using them?
Yes, over 95%.
Lots of blame to go around but almost all of it lands right at Gerald's feet.
You are arguing with me when I am not arguing with you.
Just clarifying facts because of all the false hype over Snyder and this Yippy lawsuit that was thrown out (except for Sason's claims against them).
I am not defending Magna.
I am clarifying the facts. All claims against them were thrown out in the Yippy litigation by the judge on Monday.
Snyder lost utterly and completely. The only role he has left is defending Granville against Sason's claims against him.
Not wrong.
They made 3 - count them 3 - counterclaims. The judge threw out 1 and 3 and Granville/Snyder withdrew 2.
They have no claims left.
Read his answer and counterclaim. He only made 3 claims - all thrown out.
There is A LOT of misinformation on this board and other boards about the litigation involving Magna and Hanover. They are not in big, big trouble.
To be precise, Magna and Hanover were not sued by Snyder. Sason and two others sued Granville (Yippy CEO) and Granville hired Snyder to defend him.
Upon being sued, Granville had Snyder file counterclaims against Sason, the two others, Magna, Hanover and Linda Black.
All of those counterclaims were dismissed by the judge on Monday. The only claims proceedings are the original ones filed by Sason against Granville.
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=ggNK56pN2ACJu8HWQwfJSA==&system=prod
Not only are they not in big, big trouble, they are in no trouble.
I don't think people are missing the mark. This is the lawyer who represents the CEO of Yippy against Magna and who is considering a class action against them.
I'm sure SRFF will not respond at all to the letter. Or they will simply write back that AMBS waived the conflict.
As for this lawyer's request that SRFF make any representation on behalf of Magna as it relates to these AMBS deals, it would be entirely inappropriate and unethical for them to do so as Magna is represented by Robinson Brog in its transactions with AMBS.
The only firm that can provide an assurance to this lawyer regarding Magna's shorting activities in regards to AMBS is Robinson Brog.
It is amateur hour for this lawyer to even ask that question of SRFF.
The conflicts sucks, but I'm sure GC waived it. AMBS is fully in bed with SRFF and Magna.
TopKnotch,
Your post is technically accurate but wildly misleading.
Delafield Investments Limited, Dominion Capital, LLC, Dustin Johns and Infusion International LLC are still bound by the Leak Out Agreement which covers all of the Series E shares they hold. The Leak Out goes through April 30, 2016.
So the fact that Series E can start converting is not that big a deal because all the big holders are contractually limited re: how much they convert and sell.
In other words, no big deal.
OS was 30M the last time they disclosed.
He just keeps spewing the wrong info by including stock options at a valuation of around $7.
Per SEC filings - his salary in 2014 was $170,625 and a bonus of $50K. He also received a lot of options that are now worthless.
Delafied is controlled by Josh Sason and Magna. Delafield = Magna.
Yes, Aegis brought Magna to AMBS.
Yes, but only if all the Series E holders do so. Common holders are absolutely meaningless.
That other company didn't get a voucher.
Anyway, there are multiple vouchers - not just one.
Lastly, you don't get a voucher until product approval anyway. So don't expect one soon.
What we are waiting for in the near term is the FDA's decision on rare pediatric disease designation.
Quit distorting the truth.
Yes, that is correct.
At the end of January, AMBS signed a stock buyback agreement with Magna pursuant to which they agreed to buy back 496.031746 shares of Magna's 2,631.556 shares of Series H Preferred Stock at a price of $750,000.
The company knows at all times - down to the decimal place - how many shares they have left to convert and dump.
Complete and utter BS.
When they convert, they send a formal notice to AMBS and AMBS issues them shares. So GC knows exactly - down to the fraction of a share - how much they have left to convert and dump.
It is not just your opinion. It is just blatant falsehoods.
You say that GC paid $40K. PLEASE.
"Pursuant to an agreement between us and a non affiliate third party we were hired for a period beginning on 3/6/16 and ending on 3/7/16 to publicly disseminate information about (AMBS) including on the Website and other media including Facebook and Twitter. We are being paid $40,000 (CASH) for or were paid "ZERO" shares of unrestricted or restricted common shares."
Do you not understand what a non affiliate third party is???????
When they recently raised the $3M, they said that some would be used:
"for preparations towards the initiation of the Phase 2 clinical study of Engineered Skin Substitute (ESS) for the treatment of severe burns in collaboration with the US Army"
So it sounds like funding was part of the delay.
Lie? They are covered by this.
Forward-Looking Statements
Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are forward-looking statements. These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
I'm curious - was Friday's capital raise another bridge to a larger closing?
Or was $3M the previously referenced "larger closing"?
Amarantus BioScience Holdings, Inc. (OTCQX: AMBS), a biotechnology company developing products in Regenerative Medicine, Neurology and Orphan diseases, today announced the closing of a $3M investment from an institutional investor. Under the terms of the agreement, the investor will be issued $3.3M worth of Series H Convertible Preferred Stock (including 10% original issue discount) from the Company and five year warrants exercisable for 13,200,000 shares of common stock at $0.40 per share. It is expected that the net proceeds will be used to repurchase part of the Series H Preferred from the Company's two largest institutional investors, for preparations towards the initiation of the Phase 2 clinical study of Engineered Skin Substitute (ESS) for the treatment of severe burns in collaboration with the US Army, and for general working capital purposes. The largest holders of the Series H Convertible Preferred Stock agreed to certain trading restrictions as part of the transaction.
Chardan Capital Markets, LLC acted as sole placement agent for the transaction.
"This much needed capital infusion provides Amarantus with sufficient runway to judiciously accelerate the execution phase of the Company's business plan," said Gerald E. Commissiong, President & CEO of Amarantus. "Amarantus' groundbreaking ESS program represents a revolutionary technology allowing for the growth of full-thickness human skin. We believe this program will dramatically change the practice of medicine in severe burn care, and is grossly undervalued inside Amarantus. We are evaluating options to unlock the true value of this revolutionary program to the benefit of the Company and its diverse group of shareholders, and will be communicating with shareholders in this regard in the near future."
The securities described above are being offered pursuant to a shelf registration statement (File No. 333-203845), which was declared effective by the United States Securities and Exchange Commission ("SEC") on May 22, 2015. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov.
WARNING - Zeus is a liar with an agenda.
GC's salary is $225,000.
"Initially your annual Base Salary shall be $225,000 ($18,750 per month), (your “Base Salary”) which will be paid semi-monthly in accordance with the Company’s normal payroll procedures. Upon the Company’s “uplisting” to NASDAQ, your annual Base Salary will be immediately increased to $337,500, consistent with percentage increases across all of the Company’s other employment agreements."
No, but it was only a 15 min presentation.
And it was on the day that they announced ODD for Eltoprazine. So I think that was the FDA reference.
No need to be sorry. You are just wrong again.
Lonza bought the product for $460M.
It has just been bogged down in trial issues and litigation since then. Lonza believes in the product, they just don't want to take it through the FDA. They just want to manufacture it.
As always, facts are short on this board.
The $2.5M was the final payment.
Keep reading in that press release you quoted.
"Regenicin values The Asset Purchase Agreement transaction with Amarantus at $8.023 million, comprised of $3.075 million in cash, $3.0 million in Amarantus restricted stock, and payments and forgiveness of liabilities and notes totaling, $1.948 million."
The CEO of the MJFF has no problem being on a PD panel with GC next week. And he is a fan of Eltoprazine.
You missed the point of those purchase agreements.
In the recitals, they say how much Series H Magna still owns as of Jan 27 and how much Series E that Dominion still owns as of Jan 27.
You are way off.
You can use those numbers and calculate the number of shares that each convert into.
AMBS press release from October 1, 2015:
Eltoprazine
Amarantus will pause enrollment for its Phase 2b clinical study of Eltoprazine due to this internal prioritization of the ESS program into multiple indications. There is no pre-clinical, safety, or other activity concern about the use of Eltoprazine that was involved in this decision. Amarantus anticipates restarting enrollment in 2016 and will evaluate various options for Eltoprazine for the treatment of Parkinson's disease Levodopa Induced Dyskinesia (PD LID). Given the recent acceptance by the FDA of PD LID as an indication eligible for the ODD pathway, the Company believes it may be able to accelerate the commercialization pathway for Eltoprazine and will use this period of enrollment pause to explore this potential. Management will accelerate the preparation of clinical development programs for Eltoprazine in Alzheimer's aggression and adult ADHD, as well as renew initiatives to obtain non-dilutive funding to accelerate program development in PD LID.
No, I am worried that they are only buying back 18% of Magna's Series H and 8% of Dominion's Series E.
In other words, I am worried about the remaining 82% and 92%.