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Absolutely going to zero
Mathematically they can not survive. They will restructure, issue new shares to secured creditors and old shareholders will be wiped out.
Did I miss anything?
Buy all you can at these prices.
Suckers rally. The unlock next month is a killer
Zoinks...this is still trading?
Insiders still crooks...one of the shakiest companies I've seen in years... they bury the details in their sec filings
Biermans scam history..must read!
http://weedactivist.com/2013/08/suck-my-med-men-how-hucksters-and-charlatans-are-taking-your-money/
OTC opened this investigation for a reason . There's probably a lot more skeletons that James Parker will talk about. Not looking good
They're losing West Hollywood flagship store,selling assets to treehouse reit scheme
Since then they've had construction costs over 12 million, payroll, executive compensation, purchase of loud seeds, other deals, operating expenses etc, etc they will 100% have to raise more cash...100%
Well, they haven't actually completed the building, they completed the structural but there is still a lot of work left. Then they will ask for inspections from the City. There will undoubtedly be a punch list of things that need to be changed or added to get final permits. Then they will be able to start under the terms of the various licenses. And this is if everything goes right. So we are looking at about 6 months to plant the first seed if all goes well.... And 4 months after that to harvest, again if it all goes well. My concern isn't the time frame, it's the cash burn....They absolutely will have to have another cash raise... at that point I will make the purchase decision
Well, they haven't actually completed the building, they completed the structural but there is still a lot of work left. Then they will ask for inspections from the City. There will undoubtedly be a punch list of things that need to be changed or added to get final permits. Then they will be able to start under the terms of the various licenses. And this is if everything goes right. So we are looking at about 6 months to plant the first seed if all goes well.... And 4 months after that to harvest, again if it all goes well. My concern isn't the time frame, it's the cash burn....They absolutely will have to have another cash raise... at that point I will make the purchase decision
Wait until after stock sale. set a buy in the .22 cent range...The stock sale to raise cash will drop the share price. It will late we 019 before they can start any real production
Did I miss anything?
Why would anyone buy out BICX and then spend 10 million more, minimum to try and gain few approval with no guarantees? They wouldn't. OPNT has a market cap of 40+ million, they own NARCAN and have several other pipeline drugs... Brady & co. Are com men.
Check out OPNT latest or release. Compare it to BICX. Do you think BICX will have a a similar time frame, need for studies and need for many, many millions of dollars? And why isnt BICX mgmt as upfront and honest as opnt mgmt? BICX seems to operate on vague pr releases and convoluted information
The price action was very interesting. IT might be a positive sign in that they are able to garner some interest with PR releases. That's sometimes a sign that a company is not completely abandoned by investors. The most important question at the moment is what restrictions were placed on the 1 million shares granted to CereCare? That bit of info was conspicuously missing from the 8k.
The pre-ind news was timed so they could dump their 1 million shares. They gave bicx $100,000 and made it back a week later by dumping shares to ignorant investors. They pull this same stunt every time they make those phony loan deals. The pre ind meeting is not news worthy.
Wow, they must have dumped their 1 million shares and recouped the 100k they gave bicx. Strange how the share price seems to spike whenever one of the money lenders want to dump their sweetheart stock shares.
100k deal is a joke. First of all bicx is granting CereCare stock and performance based payments. That isn't the way business works. If you're granting stock and cash payments in exchange for a cash payment up front, that's basically a loan. That is NOT a customer. Something is fed fishy here as usual. secondly, there is no second, the first thung is bad enough.
Look at Therakine website, it's a joke. Look at who owns Therakine website. BICX101 IS DEAD. Bicx needs 2.5 million just to file an IND application. TTNP has an implant that's FDA approved and they are having trouble with sales. Brady should be honest for once and give a real assessment of their current position, plans and hurdles.
The most relevant agency division I could find regarding nida and ind application process. Since bicx isn't a grantee they would be one of the other parties. Brady really should have given more info regarding this issue. But anyway here it is https://www.drugabuse.gov/about-nida/organization/divisions/division-pharmacotherapies-medical-consequences-drug-abuse-dpmcda/regulatory-affairs-branch
My post was taken directly from NIDA policy. Yes, Grady is giving the impression that the non disclosure is a big deal, that bicx has something the govt is interested in , etc. The fact is nida and nih routinely sign non disclosures in order to keep study participants info private, as my earlier post showed. Brady is a master at misleading investors.
Confidentiality agreement is meaningless.... it's a tool to protect study participants.
Revised April 2015
Certificates of Confidentiality are issued by the National Institutes of Health (NIH) to protect identifiable research information from forced disclosure. They allow the investigator and others who have access to research records to refuse to disclose identifying information on research participants in any civil, criminal, administrative, legislative, or other proceeding, whether at the federal, state, or local level. Certificates of Confidentiality may be granted for studies collecting information that if disclosed could have adverse consequences for subjects or damage their financial standing, employability, insurability, or reputation. By protecting researchers and institutions from being compelled to disclose information that would identify research subjects, Certificates of Confidentiality help achieve the research objectives and promote participation in studies by assuring confidentiality and privacy to participants.
10-q should be out within the next couple of weeks.
I figured the same thing. It should be the responsibility of the IR woman. This company could have a shot at being a much bigger company with a legit product but they really need to be upfront about the path they think they can take to achieve success.
How can a pr statement be released on Oct 5th that states "The pilot program is expected to start on October 4, 2017"???? Wouldn't you know if it started the day after it was supposed to start?
Did the IR woman ever answer the question about the IND Application fee? I believe she was on the road last week and referred someone to Google. She should have the answer by now. I would imagine if mgmt is so close to filing the application they would know how much they have to remit with the application.
Did you see how they just dumped 400k shares to the suckers?
What's going On here? They aren't even close to FDA Trials. They had a pre-ind scheduled for bicx101 and cancelled the meeting. They now have a pre-ind for bucx102 scheduled or so they claim. They had approx 850k in cash on June 30th, 2017. They burn about 275k a month, so they are probably close to running out of cash. Each IND application they file will cost 2.4 million for the IND application fee not including the cost of clinical trials ETC, ETC. They'll either have to sell a few hundred million shares of stock , borrow. They are masters of stall tactics imo. Read their 10q reports, especially the related party transactions and financing deals. We'll find out very soon how they intend to keep the lights on
Gl
You are wrong and I've explained why previously
I am not bashing. Bashing to me is posting unfounded negatives. I am fairly certain my questions and statements are grounded in facts and based on mgmt statements and filings. Any speculations I have are the result of viewing the information through the glasses reality and common business sense and through a "bs" filter.
BICX would save about $400,000 If they filed their IND before Oct 1, 2017. After that date the IND with clinicals,application fee increases by approx 400k. I would have thought someone in the company or one of their contacted aides in this process would have made it a priority to file before the 2018 increase. It is a substantial increase.
Isn't that the same woman who played those word games with you when she lied about mgmt not getting 2 salaries? The absolutely are getting salaries and billing as consultants through their corporations but she tried to mislead. Now she claims she doesnt know how much the application fee is and you can Google it? Excuse me, she has a cell phone, she could have googled it and then sent you an informed response.
V. Fee Schedule for FY 2018
The fee rates for FY 2018 are displayed in table 7:
Table 7—Fee Schedule for FY 2018
Fee category Fee rates for FY 2018
Application:
Requiring clinical data $2,421,495
Not requiring clinical data 1,210,748
Program 304,162
VI. Fee Payment Options and Procedures
A. Application Fees
The appropriate application fee established in the new fee schedule must be paid for any application subject to fees under PDUFA that is received on or after October 1, 2017. Payment must be made in U.S. currency by electronic check, check, bank draft, wire transfer, or U.S. postal money order payable to the order of the Food and Drug Administration. The preferred payment method is online using electronic check (Automated Clearing House (ACH) also known as eCheck) or credit card (Discover, VISA, MasterCard, American Express). Secure electronic payments can be submitted using the User Fees Payment Portal at https://userfees.fda.gov/?pay (Note: only full payments are accepted. No partial payments can be made online). Once you search for your invoice, select “Pay Now” to be redirected to Pay.gov. Payment by credit card is available for balances that are less than $25,000. If the balance exceeds this amount, only the ACH option is available. Payments must be made using U.S bank accounts as well as U.S. credit cards.
FDA has partnered with the U.S. Department of the Treasury to use Pay.gov, a web-based payment application, for online electronic payment. The Pay.gov feature is available on the FDA Web site after the user fee ID number is generated.
Please include the user fee identification (ID) number on your check, bank draft, or postal money order. Mail your payment to: Food and Drug Administration, P.O. Box 979107, St. Louis, MO 63197-9000. If a check, bank draft, or money order is to be sent by a courier that requests a street address, the courier should deliver your payment to: U.S. Bank, Attention: Government Lockbox 979107, 1005 Convention Plaza, St. Louis, MO 63101. (Note: This U.S. Bank address is for courier delivery only. If you have any questions concerning courier delivery contact the U.S. Bank at 314-418-4013. This telephone number is only for questions about courier delivery). Please make sure that the FDA post office box number (P.O. Box 979107) is written on the check, bank draft, or postal money order.
If paying by wire transfer, please reference your unique user fee ID number when completing your transfer. The originating financial institution may charge a wire transfer fee. Please Start Printed Page 43248ask your financial institution about the fee and add it to your payment to ensure that your fee is fully paid. The account information for wire transfers is as follows: U.S. Department of the Treasury, TREAS NYC, 33 Liberty St., New York, NY 10045, Acct. No.: 75060099, Routing No.: 021030004, SWIFT: FRNYUS33, Beneficiary: FDA, 8455 Colesville Rd., 14th Floor, Silver Spring, MD 20993-0002. If needed, FDA's tax identification number is 53-0196965.
He stated "they have the cash" but then says he's not sure about the application fee, you can find it online? How can he know if he has the cash if he doesn't know the application fee is almost 2.5 million $$$? Is that a joke?
2018 IND application fee = $2,421,495 and must be included with the submission of the application. That doesn't include the millions in other costs. A reputable mgmt team would discuss with shareholders the mgmt estimate of how much they believe they'll need for the process and how they plan on raising funds. Otherwise, one can only believe this is just another obvious stall tactic.
The PR release is total nonsense. Besides, didn't someone say a pre-ind is a waste of time?
We're working Supercalifragilisticexpialidociously..??
@stanggt, i said the easy money was already made on OPNT, I would not buy it now because im very certain that they brought in a new cfo who specializes in diluting stock to raise funds. However, after they complete a secondary offering sndvthe stock drops hard, you guys should consider starting a position, the rights to narcan will revert back in 2019ish and they have a real pipeline of drugs. Bicx will be in bad shape real soon.