Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
https://www.finra.org/arbitration-and-mediation/decision-award
30 days is the timeframe they have to pay if no motion to vacate is filed
Punitive damages, yes such responsibility can be blamed on Inventiv and that’s what the closing statement is for, CVM will have the ability to address this concern.
Closing arguments are still part of the record, so once the closing arguments are presented the record will close and the 30 business days countdown will begin.
Straight from the FINRA website:
https://www.finra.org/arbitration-and-mediation/decision-award
“Arbitration Award - Awards must be in writing, but arbitrators are not required to write opinions or provide explanations or reasons for their decision. The panel will issue an award within 30 business days from the date the record is closed.“
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=4178
“(c) In cases in which a hearing is held, the panel will generally close the record at the end of the last hearing session, unless the panel requests, or agrees to accept, additional submissions from any party. If so, the panel will inform the parties when the submissions are due and when the record will close.”
(Arb outcome)
Maybe Geert is holding off on some amazing P3 news, wouldn’t want to affect that outcome after so much work and $$$.... 4 weeks isn’t enough time, I hope I’m wrong.
4 years of documents will need review, looks like another extension to those warrants is coming,
Here you go.
Civil Action No. 15-6285 (PGS)(DEA)
Orphan Designation cubed!
CAO also unloads 42K shares valued at 2.5 million approx
https://www.google.com/amp/s/ledgergazette.com/2017/09/08/inc-research-holdings-inc-incr-cao-sells-2499400-67-in-stock.html/amp
Thank you for sharing!!!!
From your posts I'm sure you're short... so good luck with that,,,
One thing you have not seen is a hold removal and an average case finalize and both of those items will happen this year, this is not the same CelSci from 8 years back or 5 years back or 3 years back, you will regret not holding shares.
So many Q's:
But I will take these
Has an arbitrator(S) contacted a judge in the legal system?
I'm sure he has contacted the Judge of the Navigators vs PharmaNet case, In the letter from my post it confirms that he contacted the Plaintiffs legal team (Navigators insurance) to request removal of all records involving CelSci in their case.
Can *arb* ,Cel-Sci records be subpoenaed, can those documents become public ?
Navigators insurance will subpoena records from CelSci, its a given, the claims against PharmaNet(Inventiv) that CelSci is suing for, Navigators insurance will use to their benefit against PharmaNet(Inventiv) in their case, they are trying to claim that such actions made by PharmaNet(Inventiv) against CelSci were not covered by their policy and therefore Navigators insurance holds minimal responsibility over the money (claims) owed to CelSci.
Navigators insurance had documents allowing them to free some of the responsibility but the current Arbitrator requested Navigators insurance legal team to remove all documentation from their case.
And therefore Navigators vS PharmaNet is at a stand still, the judge ordered motion to stay given to PharmaNet. Meaning that as of now before any documents are presented of the exact claims which CelSci is suing for Navigators insurance somewhat liable.
And both Navigators and PharmaNet have agreed that a discovery timeframe (45 days) will be needed since the documents will be subpoenaed and presented to see what exact liabilities will belong to Navigators and which PharmaNet will have to cover.
The Arbitrator is on all in on the case, and now that the Navigators vs PharmaNet case is finalized, meaning nothing else can be done until a decision is given for the CelSci case, we're not more than 2 weeks away.
He was waiting for this to take place in order to finalize his case.
Over 150K shares traded between 1.93-1.94
Yes to all that....
But read the second letter from PharmaNets lawyer, the second quote, last sentence it mentions that both parties are requesting a 45 day timeframe for discovery be given.
Then read the 3rd Quote on my post 11876, which confirms that the motion to stay was granted on July 24th.
Read post#11877 then read post#11876, and tell me what you conclude from this.
Why is it toast? Arb is 2 weeks away tops? It's 50/50.
From the S-1
"By means of this prospectus, A number of persons are offering to sell up to:
Convertible Notes:
At the option of the note holders, the notes can be converted into shares of our common stock at a conversion rate of $2.29. (539,300 shares) of our common stock which are issuable upon the conversion of notes.
The purchasers of the convertible notes also received warrants (Series NN) which entitle the purchasers to acquire up to (539,300 shares) of our common stock. The warrants are exercisable at a price of $2.52 per share and expire on July 24, 2022.
Warrants:
Between January 2017 and August 2017 we sold shares of our common stock to private investors in registered offerings. The investors in these financings, as well as the placement agent for these financings, also received warrants (Series GG through LL and Series OO) which collectively allow the holders to purchase up to (1,532,368 shares) of our common stock at prices between $2.52 and $3.59 per share. The warrants expire on various dates between January 2022 and December 2022.
Ergomed:
As of August 18, 2017 we were indebted to Ergomed, plc for services provided by Ergomed in connection with our Phase III clinical trials. On August 18, 2017 we issued Ergomed (480,000 shares) of our common stock in partial payment of the amount we owed Ergomed. Any proceeds received by Ergomed (less brokers’ fees, commissions or other transaction fees) from the sale of the shares will reduce the amount we owe Ergomed."
Why would the investors want to hold the ability to sell all these shares? We know from the prospectus that the notes and warrants have been converted to actual shares, and now can be sold. What benefit can come to them from doing this now? To be ready for the pop and hold those gains?
They get taxed on the price of the share at the time awarded.
Having gains on those shares or a loss its separate from the actual IRS bonus tax, that's a complete different scenario which we all face at the end of each year.
Your interpretation is way off man.
I'm referring to this which is straight in the statement of changes recently filed:
"Shares were sold to pay for the taxes owed on the incentive stock bonus shares recently received that were approved by the shareholders at the 2014 Annual Shareholder Meeting."
And I'm not saying that they will pay the IRS with shares, the way it works for bonuses issued by any employer to their employees it's a 25% of that bonus.
Example: if your employer issues you 60,000 shares valued at $1.00 a piece the IRS expects there cut which is $15,000, what the employee can do is pay out of pocket with money they have in their savings account or sell a portion of the shares given as a bonus and pay for that 25% which the IRS takes from any bonus issued to an employee by their employer.
The Arbitrator is holding back the results due to the arguments being made imo.
Cipriano owns 95,800 Derivatives of which 90,000 were awarded on July 27 2017. He sold shares actual shares. Jake was referring to the S-1.
Non-derivatives it seems. Derivatives he was awarded 90K+ on Aug 1st 2017.
https://www.lawinsider.com/contracts/5Kddyj9HBsHcgR3csjez8p/cel-sci-corporation/725363/2015-07-17
9. General Provision (explains in detail)
25% taxing on bonuses by the IRS, so a bonus of 60K shares would yield a 15K shares IRS cut
From the shareholders meeting June 9, 2017:
"During fiscal year 2014, CEL-SCI used a third party consultant to provide it with recommendations for strategic long term incentive compensation for certain key executives. The recommendation resulted in the formation of the 2014 Incentive Stock Bonus Plan that was voted on and passed by the shareholders at the annual meeting on July 22, 2014."
It's a bonus given to certain key executives like any other bonus you receive when employed the IRS demands their cut, so here you have those key executives selling their shares to cover the IRSs' cut.
Shares instead of Cash.... Go Ergomed!!!
Explanation of Responses:
(1) Shares were sold to pay for the taxes owed on the incentive stock bonus shares recently received that were approved by the shareholders at the 2014 Annual Shareholder Meeting.
Appreciate that,
It's obvious that the Navigators V. PharmaNet case is directly related to the Arb, but now that this case has come to a stand still, the Arbitrator can formulate his conclusion which must include in detail the money owed to Cel-Sci PER EACH CLAIM that is being made against the former CRO.
Nope, if you get your hands on it share.
http://jamanetwork.com/journals/jamaotolaryngology/fullarticle/483920
Phii MK
What may we expect for Phiii?
50-100 range.
Fund MK & new INDs.
No distribution.
Geert can't his hands are tied by the Arbitrator but think about the withdrawal of his request to the FDA it signals a positive outcome, he wouldn't throw his work away.
The Arb decision will come in 2-3 weeks tops... And it will spike interest in CVM that has never been seen, for the first time it will hold actual $$$ in the bank. Of course MK holds more potential $$$ than the Arb but the Arb will give us so much more than just one lump sum, it will allow the market to see the actual strength of the stock, it's never been done before and CelSci will be the first to defeat a CRO and the biggest in the industry. Validation for Geert and CelSci will be earned.
Two letters mailed back in May 2017
Quote is from a Letter that Plaintiffs Firm sent to Judge, dated May 23, 2017: