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Well, I took a looked at the latest SEC filing, and indeed IPIX is BANKRUPT...i.e. assets of $4.4 million and liabilities of $8.6 million. Cash on hand is down to only $748,000. And it looks like everyone at IPIX is working without pay as millions of back pay is owed.
So what would someone pay for a BANKRUPT company? Who knows, but I doubt very much.
I'm still trying to figure out how I ever invested any money in this stock. It was a fling from the beginning, but one where I obviously didn't do proper due diligence. Instead I listened to some seemingly knowledgeable people here. Live and learn.
IPIX is indeed a very sad story....not only for the many people here that lost a LOT of money on this stock, but for the drugs that might have been.
I just wonder if IPIX's drugs are caught in Phase 2 drug purgatory, i.e. the cost of a Phase 3 drug trial is greater than the potential drug profits, given the limited time left on their drug patents. I've read there are many promising drugs in this state. A change in the patent law to allow exclusive sales for a minimum time, even if the patent has expired, is being proposed. But don't hold your breath.
As for the supposed term sheet, and potential partner, it seems any potential partner has IPIX over the barrel. The longer they wait, the cheaper the company becomes. They are certainly waiting.
I hope no one seriously hurt their finances on this stock. It was a good fling. It seemed that IPIX had some very promising drugs. But alas that appears to be up in smoke. I've walked away with a loss that stings, but fortunately nothing that has significantly hurt me.
Finally, I hope all those who touted this stock over the years seriously consider the consequences of their actions, and why their recommendations turned out so tragically wrong.
Regards,
Michael
George,
You might think that IPIX compounds are worth billions, but the market thinks otherwise....the market values the whole company at only $26 million.
So you must think the market is wrong.
Nevertheless why would any potential partner pay more than a few million for any compound since the whole company is for sale today for just $26 million?
I hope you only had money you were prepared to lose invested in IPIX.
It seems to me that the logical course of action for any acquirer/partner is to let IPIX go bankrupt and then pick up the pieces at much lower cost. I think potential partners have recognized for several years that IPIX was on the ropes regarding funding, and realized that waiting for IPIX bankruptcy was the most cost effective course of action. I wish I had tumbled to this strategy earlier. :(
There has been lots of HOPE surrounding this stock, but the truth is that about 3.5 years ago the price was over $4/share...now it is less than 40 cents a share. I would call that a WIPEOUT! A DOG! A DISASTER!
Thus based on the past, I would hesitate to encourage anyone to buy this stock.
IPIX has been one of hardest stocks for me to own....in spite of all the positive trial data, according to my records, IPIX is down 26% this year, down 40% last year, down 13% in 2016 and down 70% in 2015. Yikes! The only way I can stay sane is consider my investment a total loss, which it may very well be. Oh well....nothing ventured, nothing gained.
Regarding Leo's warning, at least one person that specializes in shorting stock has shown up on the CTIX Board. :)
I get six Google hits when I click on the link...not zero!
Schwab rounded me up.... surprised me.
I'm not happy the way this was done either.... really no warning to shareholders re the split today. Boom and it is done. And then they price the new shares significantly below the previous market price. And now boom, a 35% decrease in share price. :(
No, no.... price will not change tomorrow due to the reverse split.
At some announced date in the future, your existing shares will be retired and you will be issued new shares in the ration of 1 new per 3.5 old.
Your brokerage account on that date will look something like:
-3500 NNVC old
+1000 NNVC new
You do not do anything to make this happen. It will happen automatically overnight.
I believe this should be taken as positive news. Many more investors are likely to buy NNVC if listed on a major exchange. I predict Nasdaq BTW.
Regards,
Michael
"Last day to sell to take a tax loss with a chance to get back in before January."
Although no one knows for sure, my bet is that this recent downturn is indeed tax loss selling overwhelming the buyers. Tax loss selling always happens at this time of year with stocks that are down for the year.
Regards,
Michael
I was not overly impressed with this board's responses to my question on rabies and eye virus.... so I wrote Dr Seymour... and he responded within a hour or so [below]. WOW!
I guess you just have to ask the right person! :)
Regards,
Michael
-------------------------------------------------------
We determined that the markets for dengue, HIV, herpes (skin and eye) and influenza were each much larger than rabies
Also, there is something called a priority review voucher (information on the http://fda.gov website) that carries a significant payment upon approval of dengue (up to $300M). Also, for dengue, there are no therapeutic equivalents making the time to approval much, much faster.
The eye work continues but in a secondary position to the others I mentioned above
Also, after the experience with H1N1, it's now clear that we can expect a much more serious pandemic in the next 2-4 years and none of the existing drugs are effective against very ill patients
We have the only drug candidate that appears to be effective against all strains of influenza A
Hope that this explanation clears up some of the confusion
Sincerely,
EUGENE SEYMOUR, MD, MPH
Chief Executive Officer
NANOVIRICIDES, INC
Nanotechnology-based targeted anti-viral therapeutics
http://www.nanoviricides.com
eugene@nanoviricides.com
310-486-5677
Hi,
I'm a long term holder of NNVC. Unfortunately I don't follow this board as close as maybe I should, and thus lose track of NNVC progress. There is a lot of knowledge on this board so maybe someone here can help me catch up.
I see that now NNVC is targeting flu and dengue fever. However, a few years back I recall excitement about NNVC's treatment for rabies and an eye virus. The idea was that these two treatments would not require as extensive human testing.
Can someone here tell me what happened to the previously planned NNVC therapies for rabies and eye virus.
Thanks much,
Michael
"you that it is very rare for the market to get it wrong.."
This is true in general when a company has real revenues and profits over several years. However, NNVC has none of this. The stock price currently is nothing more than a guess by those few people brave enough to invest.
Nevertheless, assuming Diwan and Seymore, and the various conferences where they are always speaking, are correct...I think the market has this stock very wrong...way too low.
Regards,
Michael
"so they cut there losses and move on..."
Plus don't forget that this is tax loss selling season! Assuming the stock is flat for 31 days, it makes a lot of sense to sell now and buy back in 31 days. I suspect that we'll see no price appreciation till all the tax loss selling is done.
Regards,
Michael
"Trying to justify TURNING DOWN money is irrational and stupid."
Money is never just given away.... depends on the terms of deal whether it was irrational.
Regards,
Michael
Linda,
You wrote: "I've gotten used to the sloppy science in NNVC tests, don't worry."
This is a pretty damning comment re the NNVC scientists. Can you back it from from any scientific basis? I doubt that you can since the NNVC scientists keep getting invited to speak at conference after conference.
I've asked you before to stop posting false and misleading comments. I'm asking you again to please stop.
Michael
Linda,
Your post is clearly disingenuous.
It's fine if you want to challenge, but out-and-out fabrication wastes everyone's time here. Please stop posting such misleading comments.
Regards,
Michael
Janet,
You are exactly right...stocks can go to zero! I had a hot bio-tech company, listed on the NASDAQ, that went to zero overnight in the 80's. Likewise, I had a generic drug maker [Able Labs] than went to zero in 2005. In both cases the firm was being run by crooks.
But I've also made a lot of money in these small companies.
Hopefully everyone here is limiting their investment in NNVC to less than 5% of their portfolio. I think we have the possibility of a winner her, but you never know.
Regards,
Michael
Janet,
You are exactly right...stocks can go to zero! I had a hot bio-tech company, listed on the NASDAQ, that went to zero overnight in the 80's. Likewise, I had a generic drug maker [Able Labs] than went to zero in 2005. In both cases the firm was being run by crooks.
But I've also made a lot of money in these small companies.
Hopefully everyone here is limiting their investment in NNVC to less than 5% of their portfolio. I think we have the possibility of a winner her, but you never know.
Regards,
Michael
Dr... thanks again for your calm reasoned replies to Linda. They are great. You have a lot of patience.
For those upset with Linda's posts, I would suggest that they not be for two reasons: 1) We all all learn something from your responses, and 2) in the long run she will have absolutely no effect on the stock price.
Regards,
Michael
As the scientific evidence mounts up, the future risk is reduced, and thus the share price will go up [i.e. those future discounted earnings will be discounted by less].
Money will have to come from selling shares or borrowing cash. I think current management has been outstanding in trying to get the company going with very little of either.
Regards,
Michael
Actually the share price for a stock is the discounted value of all future profits back to the present time; using an appropriate discount rate to measure the risk.
But that's kinda complicated for most people. An easier rule of thumb is to take the yearly earnings per share times the growth rate of those earnings times 1.5. For example if NNVC was earning $1/share and their earnings were growing 20%/year then the share price would be $1 x 20 x 1.5= $30/share.
Regards,
Michael
PS- although there have been some complaints that NNVC doesn't fully promote the stock price via PRs, I personally am very happy with the current focus on scientific results. The stock will fly or sink depending on real results, not PRs.
Maybe Linda scores a small point on "is" vs. "will be"...but I think most people would look at the Nanovericides press relese as CONFIRMING the Dr Feelgood's post.
As for the reason for the price drop...who knows, but I suspect tax loss selling is part of it. Although it is certainly strange that three new bashers have shown up recently.
Regards,
Michael
re: "So you're one of those lilly-livered weak hands who dumped this precious gem at the first or second sign of trouble. Real men don't sell--they average down ..."
Funny! Nice use of irony to make your point.
Well, I'll admit I was wrong on buying USSE. :) It's inconceivable that I would be right on every stock. If I were, I would not be here but flying my private jet somewhere.
Nevertheless, I hope the nice folks here do not let their losses spiral out of control.
Regards,
Michael
Although I no longer own USSE [selling in Dec '06] I keep stopping back here now and then. Right from the first I found this stock kinda interesting....both the pumpers and the bashers are each firmly committed to their views, which are far far far apart. There is no middle ground here.
I'll have to say this, folks who believe in JR really believe, in spite of the ever falling stock price and all that has happened.
In any event, I hate to see anyone lose money unnecessarily so I wish the longs good luck. My only advice is for each person to set a limit on their losses. One can only take so much pain. Tax loss selling season is coming up so don't miss it -- for the true believers they can always buy back in after 31 days.
Regards,
Michael
PS - one point I think a lot of posts miss is that the question is not whether JR's process works [maybe it does and maybe it doesn't]...the key question is whether his company can make any money at it. He's not the only one in this business.
As you know, NNVC is a very small start-up with no revenues or profits, making it impossible for Wall Street to quantitatively value the stock. Any investment is currently subject to the whims of the OTC marketplace.
Thus I don't put any expectation on any SHORT term price movement...may go up/may go down...no one knows. For example, as you point out, the up-listing did not have the anticipated effect on the share price.
Nevertheless I believe NNVC has great promise LONGER term. I think it's best to not to expect anything from the stock price near term.....but hope for significant gain longer term.
Regards,
Michael
Linda,
I agree, it's good to have you here. Most of us are long the stock so having at least one person short the stock is great.
While I don't always agree with most of your posts, I do agree that "there is many a slip between cup and lip."
Hopefully everyone here realizes NNVC is a high risk investment [and thus potentially high reward.]
Regards,
Michael
Dr... I certainly enjoy your posts, thanks!
However, I think we all know that the scenario you post is the optimistic scenario [I hope you are right!]. And as you have posted in the past, there is also a pessimistic scenario investors should also consider..e.g. the nanoparticles cause some unforeseen harm to humans. If people want to post the pessimistic scenario [in a civil manner!] I'm all for it.
Regards,
Michael
I just checked on my Schwab StreetSmart Pro... no bid/ask, although it appears it can be traded electronically.
Regards,
Michael
"And it cannot be a coincidence that elements popped up on this board to aggressively distort the truth and attempt to slam this stock EXACTLY at the time of the uplisting, when trading in this stock was significantly disrupted due to the MM issue. I'm wondering if there are groups who specifically have this as their profit strategy -- to target companies at the point of uplisting and attempt to manipulate the share price and benefit from the confusion."
Exactly! In fact, I think it can be generally assumed that the element of which you speak is part of an attempt to manipulate the stock price.
One thing I have learned in many years of investing in the market is that if there is a way to manipulate a stock to earn a profit then it WILL be done. Market shenanigans are a guaranteed part of investing.
Regards,
Michael
FYI, no bid/ask shown on Schwab's StreetSmartPro trading platform..... however, latest trade was at $0.99... :)
Regards,
Michael
Thanks for the tip... I've asked for linda6511 to be removed from this message board.
Regards,
Michael
Hi,
Can someone here get linda6511 removed from this board? We had a good board before he/she showed up. Responding to her comments is wasting everyone's time.
I think we all know that linda6511 is a paid basher -- paid to drive the price down and make money for someone.
Thanks,
Michael
Wechoose,
I'm taking mikeyo at his word, i.e. that he had reliable inside information and he traded based on that information. As such, he just confessed to a crime, pink-sheet or not.
The funny thing is that mikeyo was concerned with passing on inside information, which is not a crime. However, it's a good thing he didn't pass on what he knew as he would make anyone that traded on that information a criminal.
Bottom line, if you have inside information please keep it to yourself!
Regards,
Michael
Exactly.... Mikeyo has already broken the law by trading on insider information. Bottom line, insider information should be avoided like the plague since it ties ones hands.
Regards,
Michael
"perfect storm"....
I wasn't going to say anything about not believing in this chart reading stuff, but today's drop made my point for me. :)
My belief, based on personal experience and numerous academic studies, is that there is NO information about the future in a chart of the past.
Regards,
Michael
Westeffer...
"and then bailed over $2.00 ave."
THANKS A LOT WESTEFFER! I am one of the fools who bought this stock on your recommendation at about $2.00. I probably got your shares!
Lesson learned... if westeffer if touting then he's selling!
Regards,
Michael
In regard to intellectual property...
I am concerned about USSE's intellectual property... i.e. do they really own it? We've all read in the papers recently what happens to a company that doesn't, i.e. Vonage.
It is reported that patents on the process are pending, but that's not the same thing as an issued patent. Riveria doesn't seem to be a chemist and doesn't emphasize this issue...a cause for some concern. Plus if the process is indeed extremely valuable it will be thoroughly challenged in court.
Bottom line... Riveria may have a great discovery, but unless he owns the patents, it means little.
Regards,
Michael
[Full disclosure: I had owned the stock but sold due to lack of real sales.]