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Confirmed: LDS $12m financing delayed but not dead
See article published today...
https://equity.guru/2017/04/10/confirmed-lifestyle-delivery-systems-lds-c-12m-financing-delayed-but-not-dead/
Some notable quotes from article above:
Monthly volume picking up
Following table shows monthly volume on the Canadian side (where most of the volume is) through to April 7, 2017. This is indicating that the volume is picking up. February saw a spike in volume when the PP was announced and investors sold in the open market to buy the PP.
Expect this to lead to an increase in price shortly.
JB
Key reversal on Friday, April 7, 2017
Friday's low of C$0.35 on the Canadian side was made on a day with a bullish dragonfly doji candlestick indicating that traders realize that the price was sold down to unjustifiably low levels so they bid up the price and send it back up to where the stock opened, suggesting that demand is again starting to outweigh supply.
The price has gone sideways to down since early February when the C$0.50/sh PP was announced, but the financing is expected to close shortly and production star is expected at any time from the company which should be a very positive catalyst for the shares.
Look for this one to move up in the coming weeks from current levels.
JB
Don't agree with you FastFox
Don't confuse a delay in startup of operations with very careful execution of management's strategy to ensure they are in full compliance with recreational regulations that come into effect Jan 1, 2018.
This one has been quiet because they've been busy building out their facility in a way to ensure they are on the right side of the law. It's been slow to start but expect to see some news in the very short term.
JB
This was due to nervousness around PP taking so long
This is a US based cannabis play with a Canadian brokered financing. I expect to see the financing close this week. We should be seeing quite a bit of news flow once this occurs and the company is out of the quiet period.
JB
A reading of the tea leaves indicates....
.... that we will close the PP this week. We should be seeing quite a bit of news flow once this occurs and the company is out of the quiet period. Look for this to start building strength following Friday's bullish candlestick.
JB
Perhaps you could offer up your wisdom...
Why don't you call the IR guy and tell him about how to add in the markers into the NR to ensure other media pick these up automatically?
JB
Nice SO75, thanks for this...
As I understand, the push back is only done to accommodate the hospital's IRB approval. The company is sitting on its hands waiting for this to come in over the next 4 weeks (maybe sooner). Unfortunate, but this is aspect is out of their control. They need to wait for the IRB meetings and the board to review and approve the study. They can't commence the trial before that.
I understand that patients are being pre-screened/pre-registered for the study at this time so once the IRB is approved the trial will start immediately and with only a 10 patient study this should be done fairly quickly I would Imagin (pun intended).
The cancelled options are likely some consultants that received options as part of their compensation and their scope of work was reduced. Either way, it means less dilution so the exact reason is not that important (IMHO).
JB
Let me know if you need Guy's email...
JB
Unplug from this board to recharge AMG...
The board is likely burning you out. Take an iHub holiday for a week & recharge.
Regarding sending management an email to clarify the Clinical Trial - good idea. How about also reaching out to Guy LaTorre directly? I find him very open to speaking with investors and hearing concerns. I reach out to him every ~3 moths.
I agree with your comment that:
Not sure @FastFox
I understand management wants to ensure they are not offside on any regulations in the buildout of their premises in Adelanto.
The article below from C. Perry was just released today and has some interesting commentary:
https://equity.guru/2017/04/03/lifestyle-delivery-systems-lds-c-tooled-up-and-ready-to-swing/
~JB
Thought it was due April 7 ?
AMG, I thought the requirement for filing the monthly on the CSE was before trading commences on the fifth trading day.
JB
Impressive price action in BTH today, all things considering
Despite the early selloff, the price has come back nicely on good volume. It could be that those expecting a selloff on the free trade date held back purchasing the stock and when it dipped today they took advantage of the sale to buy in (while others wanting to buy even lower were unable to buy then stepped in to chase it back up).
The next few weeks of trading will be interesting.
JB
I stand by my previous post - despite not wanting this to be the case.
A lot of new paper is becoming free trading this week with a cost base of C$0.075/sh (I am not worried about the warrants at current prices). Yes, I get the argument that a lot of the investors are the same ones that did the initial $0.25/sh PP, but I am not certain they all held their shares and many will have an incentive to sell. This is all on top of the fact that we are in a down trend. At a minimum this will provide an overhang for some time until those that want to bail are offered enough liquidity to do so. It will be difficult to see appreciable gains for a period of time as weak hands continue to dump shares *if* prices rise and continue to rise.
My bet is we will touch C$0.12/sh as I said in post #1361.
Despite all this, I continue to look through it and hold my shares because I do believe in technology in the long run.
JB
Good points AMG. Agree with you.
Gotta love this:
I bet that no one is hoping you are right more than me (and a few others).
JB
I believe you will do well ...
... with your investment. Good things on the horizon for April.
JB
Who's the hypocrite now?
I quoted your original message that referenced the "scope deal" and I didn't even reference the name in doing so. No offense but I think you started that thread today.
Having said that, I have shamelessly cross-promoted on BTH board some time ago a couple of times, but it was factual.
JB
P.S. I have great respect for your work on this and sister board. I was merely disagreeing with what you said with the quote I included in my prior post.
Scope deal is not a family/friends only shop
AMG you said:
* Correction *
He's not "making money off of friends and family".
He's making money for himself and friends and family. It's the retail investor that's footing the bill.
Hopefully the technology is further advanced over time and the share price will reflect it in time. But his ACB is at C$0.075 or less so he's already well ahead even now.
JB
You'll see anecdotal proof over the next 12 days
You'd see the same anecdotal proof looking at any company that has a PP about to become free trading where the current market price is 3x above the PP price.
I'll stick my neck out and say that we see C$0.12 before we see C$0.30, though I hope I am wrong.
JB
Of course its possible
Why wouldn't it be? You call up your broker with which you have restricted shares and you short the stock. You just have to make sure you have enough margin. Two weeks later your restricted shares become unrestricted and you are automatically covered. You are shorting to lock in your profit on the C$0.075 PP, not to torpedo the share price. The shorting is what causes the price to fall.
If anyone is looking for some cheap paper, you should probably put some bulky sizably Good Till Cancel orders a ways down like C$0.12 or lower and you may pick it up when one of the "friends and family" dump their entire position via market order after free trade date.
JB
I would if I could
But my position is too large to not have an impact on the market price in a weak price environment like we are in now. Besides I am too far in the red and I have time horizon so I am willing to wait longer just to break even.
I once was hopeful in the future of the company but after seeing what Kal did with the PP in late 2016 I lost hope. As I said before, I refuse to buy more to average down and will likely bail once I'm made whole or I lose everything (whichever comes first).
There is no way to know how many shares are short, not in real time.
JB
Just like clockwork... 12 days to go
Shorting of BTH shares that were acquired in last year's PP is underway. Those with cheap paper will cover their short positions in 2 weeks when the 4 month hold is and lock in ~160% profit. Those without margin capability will have to wait the 12 days to dump their shares and lose out on some of that profit.
Looks like support is at C$0.15, then C$0.125 and then at C$0.075. With the wall of 14.5M shares and 14.5M warrants that are about to become free trading and the daily average trading volume on this name, it's going to take some time to work through all that paper and this chart to turn around.
I'm still holding my shares (which are all underwater), but you would have to be nuts to step in and buy right now. Let's see if Kal uses this as another opportunity to run the shares down and do a PP for friends and family.
JB
Ignore the low volume trades ending in 33
I've seen these as well and I don't think they mean anything. My best guess on what these are relates to recalibration of prices between the Canadian and US OTC markets for the same security.
Sometimes there is volume in Canada and none in the US and this may take the price up/down by a few pennies. The latest traded US price then appears stale and out of whack given the spot FX rate and the latest Canadian price for the same security. To re-synchronize the two prices, the market maker does a trade on one of the exchanges for an odd lot like 233 shares on the exchange that has the stale price and this re-synchronizes the two quotes/last trades. This is a guess only, but I'm pretty sure that is what is happening.
JB
You are not overlooking anything.
People, don't panic when you see somebody dump shares via a market order which takes the price down. This is just weak hands or someone that gets tired of waiting or is forced to liquidate and raise cash and dumping their entire position in one swoop. Not sure why anyone would do this with a penny stock.
This company IP that is patent protected and is about to start human clinical trials with a technology that works. They just need to benchmark it to see how quick and effective it is. We will go through periods of low news flow because you can't put out a press release every week. Use the weakness to continue to accumulate.
I've said it before and I will say it again, this will be ~10x current prices in 12-18 months. If you know of better potential on a stock that has not yet moved, please let me know.
I encourage anyone to contact the company's IR person to get the full story and the roadmap. Their contact info is at the bottom of any company press release.
JB
Yup, someone got fed up and just dumped
Looks like Scotia dumped about 125K shares at the open and this was followed up by Scotia dumping 235K shares at about 1:19 pm EST. Not great to see the price being torpedoed by this attack, but I'd rather have that and have the shares in stronger hands with this low cost base.
Someone picked up a bargain and the party selling is going to be kicking themselves for ditching at C$0.10 and below.
~JB
Thanks for the link...
I actually find that the IME/XF monthly reports don't provide any additional information to shareholders, besides confirming the shares/warrant/option amounts that are included as part of the company overview on iHub.
I've mentioned this to management and suggested they add some color to monthly progress beyond just what is in their normal course press releases. The PR's are nice for an update to shareholders and the frequency of updates I am happy with, but I suspect that there is going to be periods of light activity to issue a PR on and these monthly reports give another opportunity to update the loyal investor on how things are progressing. Of course you can just call IR as well I suppose.
I am hopeful they will acknowledge this and start to put some more color into the monthly reports on the progress of clinical trials, number of registered participants, expected timeline to completion, etc.
JB
Private Placement of Convertible Notes Closed
March 3, 2017
Imagin Medical (the “Company”) announced today that it has closed the private placement announced on February 24, 2017 through the issuance of C$118,000 aggregate principal amount unsecured convertible notes (the “Notes”) at a price of $1,000 of principal amount per Note.
The Company’s president and two directors (the insiders) invested a total of $61,000 in this financing.
No Finder’s fees were paid in this financing. The Company will be making applicable filings with the CSE.
Proceeds from the placement will be used for general working capital purposes, including advancing the development of imaging solutions for the early detection of cancer through the use of endoscopes.
Breathtec Biomedical Provides Corporate Overview
Company provides update of events and outlook for near term opportunity
March 1, 2017
VANCOUVER, BC - Breathtec BioMedical, Inc. (CSE: BTH) (FRANKFURT: BTI) (OTCQB: BTHCF) (the "Company" or "Breathtec"), a medical diagnostics company focused on developing, in-licensing and commercializing proprietary, innovative and best-in-class breath analysis devices for the early detection of infectious and life threatening diseases wishes to address recent corporate events and to provide an update regarding its immediate outlook and future plans.
Breathtec's technology portfolio continues to move ahead with a number of ongoing activities and recent achievements as summarized below.
FAIMS Technology:
Breathtec continues to progress its flagship FAIMS technology with the recent completion of developmental testing of a V2 prototype design. The new design addressed a number of issues that have held back other companies in pursuit of a highly sensitive and truly portable hand held FAIMS device. Key features include the use of a novel and highly efficient non-radioactive ionization source as well as a new square wave generation system. Both components significantly improve the analytical performance over the V1 prototype, while simultaneously considerably reducing the size of the device. These new design features as well as refinements in the design of the miniaturized FAIMS cells and the miniaturization of all high voltage and low voltage electronic components has resulted in a truly unique device that will be the subject of new Intellectual Property for the Company.
The Company will now begin the performance testing phase of the new V2 prototype in order to continue to characterize the analytical performance of the system in preparation for a pilot clinical study scheduled for the fall of 2017. These studies pave the way for a pivotal full clinical study of a selected disease state which we currently project will commence in early 2018. We have completed regulatory evaluations to determine the clinical and regulatory path to market for the FAIMS technology, and have established a clear path to market that is reasonable in both time and cost. A pre-submission meeting with the FDA will be scheduled in the upcoming months to verify our understanding of the regulatory and clinical testing requirements for commercialization of the technology.
In related news, the Company announced today that it has entered into an extension of its 2016 research agreement through 2017 with the Yost Research Group at the University of Florida Chemistry Department. The agreement provides continuity to the ongoing research central to Breathtec's FAIMS R&D program. The Company is very pleased to continue working closely with Dr. Yost and his team drawing from their deep knowledge and expertise in the field of FAIMS.
NaNose Technology:
The Company further reports on the continuing evaluation of the NaNose technology in a Company-sponsored clinical study which began early this year in the City of Surrey's Health &Technology District. The team reports progress of the study is slower than expected due to several technical challenges which have provided a significant new understanding of the technology, and are being addressed through the application of dedicated scientific and engineering efforts. We have also completed regulatory evaluations to determine the clinical and regulatory path to market for the NaNose technology, and have established a clear path to market.
Alongside this activity, Breathtec has also been expanding its team by engaging experienced consultants and are working hard at establishing Quality System and Design Control processes which will allow the Company to complete its tech platform development phase in preparation for regulatory submission and approvals for both the US and Canadian markets as well as Ex-US marketplaces.
Company CEO, Guy LaTorre comments, "We have the right technology and the right team to get to market and will be working diligently to accomplish this in an efficient and time sensitive manner. Our goals are ambitious and challenging but we feel confident that, with the ongoing support of our stakeholders, partners and shareholders alike, we will continue to make significant contributions to the field of breath analysis which will deliver value for patients, the medical community, and our investors."
ON BEHALF OF THE BOARD
"Guy LaTorre"
CEO & Director
Not sure... he is a technical chart analyst.
Clive looks for bullish chart patterns and recommends based on that. I have not seen his write-ups of IME/XF as I am not currently a subscriber (though I was in the past which is the reason I continue to monitor his web site).
From my experience he does not usually say buy as long as it stays below $x price. He typically publishes when the chart is looking to break out without specifying targets to sell at. This is just in my past experience with his research pieces.
JB
Another big endorsement from Clive Maund today
US volume picking up today as Clive Maund published another update on Imagin Medical on his site www.clivemaund.com this morning, February 28, 2017. Unfortunately you need a subscription to read it (which I do not have). You can scroll down on his web site to see his article titled "IMAGIN MEDICAL ..." under Tuesday, February 28, 2017 - but note that this will eventually fall off as other more recent articles are posted and push it off the splash page).
As I say I do not have a subscription so I cannot say what is contained in his endorsement/report. This is driving up US buying volume today. His last update was back on January 28, 2017. See my post on it here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128242479
JB
It's one of two things in my opinion.
Either the IRB is technically not approved despite the study being registered. I'm no expert and it is entirely possible that the study can be registered before the IRB is officially approved. This same thing happened with BTH/CF if you recall. The study was registered but the press release took a few weeks.
Another possibility is that the company is planning to put out a combined press release with other news that they are waiting on. For example, recall last week that the company announced a non-binding term sheet with Alumina Partners? Perhaps they are finalizing the definitive legal docs and plan to announce the IRB along with the signing of those docs.
In my opinion, the company has been quite forthright in news disclosure so I'm not concerned about the lack of news on the IRB or transparency in general. I would take this as an opportunity for anyone still looking to pick up cheap shares. I don't expect this will stay below C$0.10 for much longer once the news does get announced. That's just my opinion.
JB
I'm not sure what these are...
You see this quite a bit on the OTC market. When they happen they are always way above market and they are low volume trade. I don't know how or why these happen. As best as I can figure it is someone trying to paint the tape (display a higher print to manipulate either closing price or the daily high). Maybe someone is willing to buy higher than market at low volume to fool one of the algorithms to try to generate a run. I really don't know... this is all speculation.
Maybe someone with more OTC experience can explain why this happens or what causes it.
I miswrote in my earlier post this past week. It looks like clinical trial officially starts March 1 - that's this Wednesday. Good things are coming! Way to go IME/XF
I heard from a reliable source that Alumina Partners chose to back IME at this time (versus waiting) because they were miffed that the company was still trading at current levels given they are starting human trials in the next month or so. This company is so under the radar it's not even funny. This is all good as far as I am concerned as it has given me numerous opportunities to nibble away at cheap shares. I expect to be 10x higher in 12 months time.
JB
Announcement a big vote of confidence by management & insiders
Recognizing that Alumina financing backstop will be in place shortly, management and insiders are essentially investing their own funds into IME on identical terms as Alumina except for extra dilution from the warrants that is in the Alumina term sheet.
This essentially conveys that that management/insiders KNOW that this is stock is going places. They are investing while the shares are cheap to lock in the cheap conversion price. Doing this will give them a slightly longer runway to defer doing a draw under the Alumina deal while the share price has a chance to start moving up, thereby leading to less dilution to existing shareholders once they do make a draw from Alumina (at a higher share price).
Any time you see management investing in the company they work at, it's good news.
You've gotta like this a lot.
JB
Looks like IRB is approved and study is registered
https://clinicaltrials.gov/ct2/show/NCT03058705
Based on this recently added clinical trial study, it looks like the IRB is either approved or almost approved and the study is registered. Start date is April 1, 2017 or about 1 month away. I doubt it will take until March 2018 to complete a 10 patient study.
Near Infrared Fluorescence Imaging for Bladder Cancer Detection
Sponsor: Edward Messing
Collaborator: Imagin Medical
Estimated Enrollment: 10
Anticipated Study Start Date: March 1, 2017
Estimated Study Completion Date: April 1, 2018
Estimated Primary Completion Date: March 1, 2018 (Final data collection date for primary outcome measure)
Fully agree with SO75
The financing has taking a considerable amount of risk off the table for IME - namely liquidity/funding risk.
Alumina Partners (http://www.aluminapartners.com/) clearly likes what IME is working toward and has stepped up to the plate to offer funding support. As I have said before, given the 2017 plans for development and 2018 commercial launch, this company could easily be worth 10x current levels in 12 months.
To Alumina, this is a no brainer. It means no further dilution to private placement raises and they get to partner with Imagin to take the technology across the finish line. Retail investors are fickle and impatient and get distracted by the latest fad sector. It is often difficult to get retail support behind a company like Imagin because it won't generate tons of news flow but when news does come out it will represent major milestones on the path to commercial launch in 2018.
Just look at a sample of investments in the Alumina portfolio below. Recognize any? The structure of the facility is specifically designed for IME to do small draws on the facility as funding is needed. The share price will continue to climb with IRB approval, human trials, FDA review, FDA approval, product miniaturization, commercial launch and Alumina will fund the progress at successively higher conversion prices, thereby minimizing dilution (versus if the full $8M was funded at the current price level).
One thing is for certain, there will no longer be a funding overhang on the stock from this point, so all news will generate new demand and drive the price higher.
JB
All valid points.
Let me add a few additional ones:
- Brief (5-6 patients) clinical study about to commence.
- FDA process starting H2/2017
- Commercial sales start mid-2018
- Top two urologists working on this (Ralph deVere White, Edward M. Messing) are renowned in urology field throughout the US
- Management has worked together in prior biotech startups that have commercialized technology and were acquired by multinationals
- The technology greatly streamlines and shortens urology exams
- Bladder cancer is 6th most common cancer in US and is THE most recurring form of cancer