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Yes..thapsigargin (the active ingredient in mipsagargin) is a beast when it comes to killing cancer cells in solid tumors. 10x stronger than conventional chemo. The extraction process (45 steps) from the plant Thapsia garganica has been expensive and limited. However, Phyton (developer of blockbuster drug TAXOL from Pacific Yew tree) has solved that problem and when patents are issued for the thapsigargin production process the cost and limit problems will be history.
The must be paid liabilities you mention are real but the debenture liabilities will be extended by Sabby (they won't put NSPX in default). The derivative liability will most likely expire worthless like most have done. The accounts payable can be negotiated and the ones that must be paid sabby will pay like they did in December and add some more to debt. So I'm saying the actual must be paid liabilities is somewhere between 500K and 1Mil.
Sabby will do what sabby does extend the default dates for and get additional debentures for payment. They are not thru collecting share proceeds quite yet. I agree that a cash influx is needed to get out from under the debentures but will it come in time or come at all. The fix is simple NSPX needs to stand tall and get some cash some way some how. They have drug platforms, patents, agreements but as of last filing only 23,000 in cash. Not good!
May be a little early to bury NSPX but you are correct on how little support the company has for the stock and the disregard it has for the shareholders. The stock has returned to pre ovid-19 hype price and the RS would never even happened with out that 2 month move. A sad episode for many for sure.
Yes it took a little longer than anticipated but got there never the less. Left some pain in the move but nothing has changed since February. The down side was that the move ate up all the shares and precipitated a RS. A few things on horizon..first quarter 10-Q..Debentures mature July 16..and the overhang of the RS. Stock is resilient so we'll see what happens. EOM
Yes Sabby has a butt load of cheap shares! About time they ran this up to a couple dollars a share and put some serious cash in Hal’s pocket!
Cost of assets fully amortized as of Dec 19. See note 5! EOM
There is always a chance that events will turn in our favor. The most important thing at the moment is for NSPX to generate some cash some way some how. Not by issuing additional debt or by selling millions of shares at subpennies to pay off debt. NSPX must get out from under SABBY. Sabby will suck up every dollar available. The Ridgeway deal has done nothing but bio deals happen quickly and happen every day.
It's been a mess for many.. most of the information concerning the company was released in the 10K. The recent posts over the last few months have told the whole story about the company over and over again. The only thing that may be new is a company called MedicNova had a PR stating they may use mipsagargin as a combination drug in a patent application. NSPX may go into the cold case file unless the company steps up. Most of the hype for a virus play and the posters who spewed it are gone or will be soon.
Agreed.. back to the not so good old days prior virus.. low volume, low price movement, no news. All dressed up and no where to go! Waiting for NSPX to come thru with something large!
The RS on Oct 1, 2019 reasons were to raise stock price and have enough shares to meet debenture obligations. Sound familiar. Didn't quite work out as planned!
Copy and paste from last RS. Same BS about raising stock price to be more attractive to brokers. After last RS PPS almost immediately went to subpennies.
Makes no sense.. even if they RS the max and had another 149 + million shares to issue at the price they would get would not be able to pay off their accounts payable let alone other debts. RS out there just to appease SEC. What is needed is a major influx of cash and not from debt financing and need it soon.
I agree that nothing substantial will develop until/when/if the company releases positive news concerning the drug platforms. The reality of a proposed RS will certainly be a dark cloud hanging over the stock. The debentures that are out there mature on July 16 so the reality of NSPX going further in debt to extend those is possible. Fighting an uphill battle for sure but some believe this can change in an instant. Events happen to Bios every day..why not NSPX?
The price levels that this stock trades means very little. Traders may have interest in price fluctuations on daily price movements from peaks to dips. However, this is a all or nothing deal. There are many that hold millions of shares of this stock and won't sell because of the cancer play and the reward that would bring. It could be a dud but also could explode.
The covid-19 roller coaster ride is over. The PPS is back to pre-virus levels. What was anticipated was riches but what was received is pain. Nothing has changed with the company. It has not said a word. All the hype came from individuals. It was, still is and will remain a clinical stage bio cancer play. Invest accordingly with where you think this stock is headed.
Nothing has changed with the company. The company has never issued a word other than what is in the filings. From DEC 4 2019 when it closed at .0105 until March 26, 2020 (the beginning of covid-19 hype) when in closed at .0109 the stock never closed above a penny. The low was.0015. The average volume was in 200K-400K range. Most of the investors who bought the stock after the last RS at the super low prices are still waiting like all others on news just like the new investors. The spike in price to .037 and the great increase in volume has hurt more than helped. No one should be surprised at the current price. The PPS is trading where it should be until the company can prove that all the DD that is out there is worth money. Once they prove that mipsagargin is a 100 mill drug and the L&C Adenosine drug platform is worth another 100 mill or any reasonable portion of that worth, the PPS will increase substantially. No one knows when or if that will happen. You can choose to be in the stock when it happens or think it won't happen and go else where with your money.
FLFLYERSFAN was correct as soon as the 10-K came out and notified everyone that the AS was maxed out the PRE 14c came out the next day notifying all that the board proposal for a RS was ratified by majority votes so NSPX could generate shares to take care of debenture liabilities.
SABBY (as ruthless as they are) is behind it all. The debentures carry mature dates that SABBY knows have no chance of being paid off in cash so NSPX needs shares to convert to eliminate the debenture liability. So the loans (debentures) can't be paid off in cash and can't convert to shares because there are no shares available because all the shares were bought in the covid-19 hype. So SABBY is glad to extend mature dates to eliminate DEFAULT on the debenture agreement for new addition debentures but the company never receives actually money for these debentures it's just a payoff to extend maturity dates. The SEC on the other hand frowns on company selling securities that can not be paid off by the terms of the agreements. NSPX has no way to pay off SABBY's loans because they have no cash and no shares of stock. They are in a box and the root cause is they have yet to prove that their stock is worth more than subpennies.
The next post will be DEF 14c and then the RS WILL happen anytime up to May 1 2021 unless some major development happens!
The ink is barely dry on the Pre 14c and the very first call to sell, sell sell heading to .005. Why stop there the bottom would be .0015. A great piece of insight to predict stocks go lower in downtrend and especially after news of pending RS.
Note on supply chain of drugs needed from 10-K
Our therapeutic compounds may not be able to be manufactured profitably on a large enough scale to support commercialization.
To date, prior to our curtailment of operations, our therapeutic compounds have only been manufactured at a scale which is adequate to supply our research activities and early-stage clinical trials. There can be no assurance that the procedures currently used to manufacture our therapeutic compounds will work at a scale which is adequate for commercial needs. In the event our therapeutic compounds cannot be manufactured in sufficient quantities for commercialization, our future prospects could be significantly impacted and our financial prospects would be materially harmed.
Phyton Biotech announced that it has achieved a major milestone in connection with the manufacture of thapsigargin, an inhibitor derived from the Thapsia plant that is the active agent for the investigational prodrug mipsagargin.
This notice was from a while back and the patent to produce the thapsigargin is still not issued by the US patent office.
Phyton produces drugs from plants. It's blockbuster drug is Paclitaxel (TAXOL). It's patent on TAXOL enabled the drug to be a world wide treatment for Breast Cancer.
Opinions and rumors feel that once the patent is granted for the commercialized production of thagsagargin there would be ample product to make sufficient doses of mipsagarin to proceed with PH III.
It's the opinion and rumor that no PH III clinical trial can proceed until Phyton gets the patent for the production of thapsagargin issued. The opinion is that no pharma company would spend the money on the drug until it was assured there would be enough product in the pipeline to sufficiently make the doses needed.
There is also an opinion or rumor that the main reason for the PH III delay has nothing to do with the drug but with the supply of thapsagargin (the main ingredient in mipsagargin) that is needed to have ample doses of mipsagargin to conduct the phase.
The company was MedicNova that is using mipsagrgin in a patent application as a combination with their drug MN-166 (ibudilast). I was surprised in the 10-K that no mention of this was in the report. Maybe in the 10-Q coming up in june.
The latest study projects bringing a single drug thru PhI and PH III is 10-15 yrs and upward of 350 million dollars. Mipsagargin has stalled after PH II. There is no indication that there is anybody who is ready to advance the drug any further. If a know participant was ready to spend the money to advance the drug things would be different with this investment. That is not saying that there is no chance of it's development only there is none presently.
I'm not going to sell a share and I'll wait to see if the PPS drops like it did after the last RS and I'll probably buy some more! You are indeed right it's a gamble and my yrs have been one extended gamble.
Yes that will be the next postings about sell, sell, sell before your account is worthless as they load up on the super cheap shares with the anticipation of a run or the next hype. Remember for every seller there is a buyer.
I will agree with you on one thing and that is at the present time the entire drug platform that NSPX owns has shown no indication, evidence or concrete fact that it is worth anything but speculation. NSPX has failed to prove anything. If they had we would not be here at subpennies and talking about reverse splits. Reverse splits are a needed business tactic for different reasons.. not thievery or scams or avenues to steal money. They are a business decision to stay compliant with SEC regulations and/or stave off bankruptcy or to keep from getting delisted or to get listed. If the investors portfolio takes a hit .. so be it.. "caveat emptor"! As others have posted NSPX is broke and has no resources to pay its liabilities. Way too many cheap shares were sold.
The true scam that your post insinuates is not the company but the individuals who take basic facts about the company and explode them into visions of out of this world and unrealistic returns with the goal of selling off their positions to naive investors who think buying pennies is akin to winning the lottery.
The company has done nothing to entice the public to buy the stock. It was the anticipation of extraordinary returns that drove many into buying millions of shares of the stock maxing out the AS. All the pumps have come from individuals not NSPX. It is what it is.. a high speculation penny stock and it will do things that high spec penny stock do.
This notice is a carbon copy of the last RS. the Pre 14c came out 1/10/19..
the Def 14c came out 1/22/19.. the actual split took effect 10/01/19. Not that the last duration is any indication of the duration in the situation. The last RS was a 25 existing shares for 1 after also stating a possibility of 500 shares for 1.
NSPX had no choice but to either increase AS or RS..the RS will happen however the company is not going away so this is not the end of the story. This is a result of the hype about covid-19 that ate up millions on millions of shares. Very seldom do the investment gods let get rich quick events happen. Nothing about the company has changed so use the RS as an opportunity!
I'm sure you are not alone in that same thought. NSPX will make you earn your money!
Super low volume trades.. weaksters heading to exits afraid of R/S. Snowflakes!
That is the precise gamble that is on the table. NSPX can not or should not exist in limbo as it has since shut down of Feb 18. Time is approaching to as they say "fish or cut bait"!
You may have left one step out.. that is solid advancement of share price first!
New series E preferred stock has 500,000,000 votes. 5000 shares x 100,000 each. A little over kill if only 150,000,000 needed to rubber stamp a action by board.
Look for a major cash infusion by either partnership, license or buyout within next 3-6 months. Read between the lines. R/S authorized until Dec 2022.. doesn't seem they're in much of a hurry! What's with Series E preferred 5000 shares of 100,000 voting rites each (500,000,000). Looks like a spike in price per share a increase in AS and a R/S sometime in 2022 if needed.
Perfectly allowed move to delay by SEC. A blanket move so I'm sure many are doing the same thing. Need to file the 10-K that is due and see what's in that. People are on edge for news to be released so a continuation of quiet time may not go well with traders. Doesn't make any difference news will come when it is ready. Hold for big payoff.