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Sabby loaned them the money to keep the lights on now its time to pay them by issuing 5+ million shares for sabby to sell on open market.. it's happened many times before!
Maybe getting closer to a break in trend because everyone on social media and financial posts think this company is pure trash and/or a sophisticated stock scam!
When you borrow money to stay alive (convertible debentures) and have no means to pay your debt obligations you issue shares (dilute) to meet your obligations. This cycle of borrow, dilute and RS has been done over and over again by this company. The question is why? The main men (as noted) of this ticker are Sabby, Silvestre and Hislop..they obviously don't need to be associated with this company but it keeps on rolling. Will it ever show investors any value??
Raul Silvestre and Dennis Gluck both grads of prestigious Pepperdine Law school have reputation for corporate transactions, mergers and acquisitions. Lets think they can put their experience to good use with RBSH and move this ticker along.
Most of us (including myself) have been led to believe that at some point in time all the patents, mipsagargin and RT-Ar001 were going to generate some value and therefor investors to move this forward. No value has materialized and Sabby has kept this company alive with loans that ate up shares and drove the PPS down causing RS after RS. Now we have a new sheriff in town RBSH.. lets see if it can generate value somewhere before they dilute the shares and run the PPS into the dirt. (they have 990,000,000 shares to work with).
They posted thru and adjusted 8-K/A that it was going to happen 20 trading days from Oct 12. That would bring the new ticker RBSH to start trading 11/9 or 11/10 .. will have to see if that happens!
Its very possible that RBSH starts dumping mega shares on the market driving the PPS down into the dirt.. it has happened before. We will have to see what the next few months brings. Maybe something different???
The GNSZ/NSPX/NSPXD ticker symbol will end next week and the new RBSH will be the ticker for Rebus Holdings Inc. RBSH will be the parent of Inspyr Therapeutics and control all the company's activities. The entire strategy of this transaction has yet to be explained by Silvestre etal but maybe the reasons behind this new direction will come to light soon!
The crime started before the RS. Increasing the AS to 1 billion shares then issuing and diluting the OS by many hundreds of million shares for the sole purpose of paying off Sabby convertible debt set up the RS. Went from 150 mil OS to 716 mil OS with no increase in company valuation.
After being dormant for awhile, mipsagargin getting updates regularly on PubChem??
We've been here a long time.. anything can happen with this stock. It is a totally new ball game with Rebus controlling all IP, patents and research documents. A up list to QB and a sale or partner for Mipsagargin may be in the cards.. give it some time.. Rebus is only 2 weeks old.
New owners 0f Inspyr Rebus Holdings Inc (Silvestre etal) have taken total control of the company. Hard to believe a couple of Hi Profile Corporate attorneys are going to sit on their hands and watch their new baby flounder. They will do what's best for their bottom line for sure!
Bye Bye NSPX.. can't say it has been a rewarding experience. Will stick around to see what develops with Rebus Holdings Inc. and see if the promised update on RT-AR001 ever develops. Maybe Silvetre etal can manage to get some valuation out of the new ticker.
If you believe anything in the 8-K, the NSPX days are numbered and a new deal and ticker is on the way. Rebus Holdings (never heard of them) will be parent of the new merged company and presumably calling the shots. Maybe Just Maybe the Zabby loan shark exercise is coming to an end and Rebus can find some legitimate investors to move this company forward. All remains to be seen.
It's all about valuation.. regardless of RS.. worldwide patents.. orphan status until 2034 for mipsagargin and when RT-AR001 gets go ahead from FDA it's a 100 million dollar stock at least. Rebus Holdings knows this and will be lining up investors!
Crazy day for NSPX.. whats your take on events as they were presented by Silvestre? Seems like Rebus holdings is an english company which would fit in with Colin Hislop.. anyway out of blue comes this merger!
Just a few notes: Not to defend anything this company does it has basically been an atm for Sabby. The past RS all came with AS maxed out unable to meet convertible responsibilities, there is still 400 million shares to issue now. It's hard to believe anything coming in filings but it is stated this RS is to uplist to OTCQB and a update concerning IND is forthcoming. A 200-1 wipes everyone shares out including Ridgeway and Silvestre and Sabby cayman island funds. We will have to see what happens moving forward.
I'll be positive.. the RS final number is 20 equals 1.. that leaves approximately 30 million issued and 970 million yet to be issued. A pps of .04 and market cap of 1.2 million. As promised in previous fillings a update on the IND for RT-AR001 will bring additional investment as NSPX gets uplisted to OTCQB. The answers will come soon.
Does it mean anything??? As per PubChem mipsagargin modified on 8/28/21 then again on 9/5/2021..who or what or why is behind studying mipsagargin? Nothing in NSPX filings has mentioned mipsagargin lately!
They maxed out the 150,000,000 share last yr then raised the a/s to 1,000,000,000. The addition shares were not used for attracting investment but from jan-jun issued 350,000,000 shares to pay down $2,000,000 of convertibles. Maybe the RS will be modest (20 or 30 for 1) not completely wiping out all and some news comes out concerning the drugs and something can be salvaged!
The next RS is in motion and will be with the shareholders on or before 10/5. The reason for the RS has always been the same in the filing documents.. sub penny share price does not attract professionals and the higher price per share will attract investors. Total BS. The new batch of available shares have always been issued to take care of convertible debentures always diluting the shares and driving the PPS into the dirt. This time they are touting the higher share price may result in up listing to OTCQB therefore investment in the company.. Read the reason for the RS. More BS???
Silvestre knows all about this ticker and where it may go. He's been involved in all things as general consul since 2008. Don't understand why with 400,000,000 shares to still be issued news does not come out to run the issued shares to the max and then RS like 20 to 1 leaving 50,000,000 shares with 950,000,000 yet to be issued.
Don't really know what was modified. Just glad to see that mipsagargin is still alive. In 2018 Ex CEO Lowe pulled the plug on anything to do with the drug and put it in deep freeze!
The NIH data base on drug information PubChem modified on 8/28/2021 the drug information on PubChem CID #24772106 Mipsagargin. This was the first modification since the drug entered it's data base on 5/5/2008. ????
Not a lot of love shown to our new CEO down 35% in a week (or maybe his plan?) he does own convertibles!
Multiple patents all over the world...patent on cancer drug completed phII with orphan status until 2034...upcoming IND application on novel adenosine based immunotherapy drug.. market cap 2.7 million ... go figure!!
I also was surprised that after trading so long in the 006's that it broke down. Remains to be seen if lows at .005 will hold. The 10-Q was lacking any positive news on the situation of the application and standing of the IND (sounds like they are still in the preparation mode and no actual IND application has been submitted). This was noted in previous filings that an update would come in 2nd half of 2021 but it was not in this filing. Sabby, Hislop and now Silvestre all have significate reasons (multimillion shares) so positive activity in NSPX may happen going forward but for now its just wait and see!
No Z in an earlier filing.. but the note that after march 31, 2021 both directors were offered options on stock at a price one day prior to the notification of FDA approving Clinical trials for RT-AR001 was somewhat optimistic that the IND may be approved going forward.
As of now only two (2) individuals with direct association with NSPX both directors. Their compensation agreements state the terms.
On March 1, 2021, we entered into a settlement and release agreement with Claire Thom, one of our independent directors for the settlement of past due director fees and the mutual release of all claims. Pursuant to the agreement, Dr. Thom agreed to waive $204,500 in outstanding director fees in exchange for the following: (i) the payment of $40,000 (of which $20,000 was paid in November 2020 and $20,000 in February 2021) and (ii) immediately prior to the announcement that the Company has received approval from the FDA to commence its first Phase 1 clinical trial after March 1, 2021, a common stock purchase option with a Black Scholes’ value of $40,000, having an exercise price equal to the closing price on the day preceding the announcement, and a term of 10 years. We also agreed to amend our non-employee director compensation policy such that on April 1, 2021 each director will be entitled to receive a quarterly Board fee of $5,000 in cash.
? On March 1, 2021, we entered into a settlement and release agreement with Scott Ogilvie, one of our independent directors for the settlement of all past due director fees and the mutual release of all claims. Pursuant to the agreement, Mr. Ogilvie agreed to waive $231,167 in outstanding director fees in exchange for the following: (i) the payment of $60,000 (of which $30,000 was paid in November 2020 and $30,000 in February 2021) and (ii) immediately prior to the announcement that the Company has received approval from the FDA to commence its first Phase 1 clinical trial after March 1, 2021, a common stock purchase option with a Black Scholes’ value of $40,000, having an exercise price equal to the closing price on the day preceding the announcement, and a term of 10 years. We also agreed to amend our non-employee director compensation policy such that on April 1, 2021 each director will be entitled to receive a quarterly Board fee of $5,000 in cash.
Wonder how search for new CEO is coming along .. maybe hard to find someone to take on this assignment or is the search just some BS and NSPX has no intention of hiring anyone just yet or at all. Not many will work for nothing as Cain supposedly did for a few years.
On July 26, 2019, the Company appointed Michael Cain to serve as the interim chief executive officer, chief financial officer, president, and as a member of the Board. Mr. Cain will serve on an interim basis as principal executive and financial officer on an at-will basis. The Company is not a party to any employment agreement or contract related to Mr. Cain’s employment and he will not receive any compensation at this time.
The starts and stops have happened many times before. Sabby at work? Let's think there may be follow thru and buyers continue to drive stock up anticipating news on IND soon.
I know you didn't call it a scam but others have. By means of an October 2020 agreement Ridgeway Therapeutics (Dr. Colin Hislop CEO and President) took control of the company. He is a biotech veteran experienced in moving clinical stage drugs along. His day job is currently Senior V.P. at Eiger Biopharmaceuticals. Ridgeway had or has 65,000,000 million shares of NSPX. Hislop has incentive to make RT-AR001 a viable drug candidate. There may be more to come from NSPX.
To call NSPX a scam may be a little harsh. However, it definitely can be classified as a virtual company with no physical assets other than patents, Intellectual property, a rented office, a board of directors and at present time no CEO or way of communicating with anyone (like it is possible to find anyone) about the company. All company functions are out sourced. For years Sabby has financed all the cash expenditures from the company thru loans (convertible debentures) and have taken millions out of the company by converting debentures to stock and selling the stock on the OTC open market. Most of the actual INVESTORS in the company are penny stock traders looking to profit from advancement in stock PPS. Going forward, IF RT-AR001 gets the approval to start trials from the FDA that would give NSPX 2 sanctioned drugs (mipsagargin) in a cancer portfolio which may induce some investment or company sale. Other than Mipsagargin and RT-AR001 there has been no indication that other drugs are in the pipeline.
You are correct in that it's anyone's guess where this is headed. Nothing will surprise me. It may be there is no new CEO on the horizon and the director will sign anything that needs to be signed. It may be that IF it gets IND approval and is ready to start clinical trials some movement may develop. NSPX will not have the financial resources to take RT-AR001 into trials so financial backing or partnering would need to come into play. Right now it's in the sleepwalk mode but they have stipulated that updates would come in 2nd half of this year.
Haven't tried in a while but after leaving Genspera in 2016, Dionne was associated with two San Antonio based companies. Cdionne,inc a consulting company and Terrona, LLC another plant based cancer company. Both are dissolved. He has a lot of connections so he will show up again in some sort of Bio related position.
There hasn't been a CEO who believed in the drug platform and promoted the company since Craig Dionne left in 2016. Chris Lowe mismanaged the company and Michael Cain was a paper pusher. It would be nice to see a new experienced CEO with some interest in promoting the company but I wouldn't hold my breath. Ridgeway Therapeutics (Hislop) as per Oct agreement is controlling the company so a another figure head may be in order or no new hire at all.
The ticker has moved sideways for months. The mini-spike to .0110 on july 21 with heavy volume was caused by the 8-K that traders quickly realized it was nothing (A note that NSPX was borrowing more money and the figure head CEO was resigning). The pps quickly fell back to the .006-.008 range. The pending news on the RT-AR001 IND news may have put a floor on the pps. If a non-descript 8-K moves the pps to .011 how would a 8-K with some meat (like the FDA has approved the IND for RT-AR001 and NSPX is set to move onto clinical trials) move the ticker?
Why not add! The ticker has been in a tight trading range since May waiting and preparing for news on upcoming IND for RT-AR001. News on capable CEO and positive announcement on IND could send this ticker much higher. Market Cap of 3.5 million is peanuts..10X that could be first step higher!
From and interview with Alan Dukes 4/2015..
Some additional info on Dr Dionne and his confidence in Mipsagargin and his ability to transform cancer treatment.
This new drug treatment acts like a grenade because its toxic chemical is released from its wrapping only when it makes contact with a specific molecule in the blood vessels feeding tumors. Results from Phase II of this new drug treatment are showing promising results, GenSpera (www.genspera.com) is planning phase three testing for 2016, which could put mipsagargin on track for FDA approval for widespread use in 2018. "Cancer can't escape OUR drug. There is no way to get around it," Dionne says.
Dr. Craig Dionne is well on his way to be becoming the Steve Jobs of the bio tech world. In Alan Dukes new interview with Dr. Dionne he compares his accomplishments in cancer research, passion for finding a cure, and his creative innovative approach on par with other technological innovators –including Elon Musk, Jeff Bezos and Larry Page.
Many have listened to Dr Dionne only to be still waiting on mipsagargin.
Onclive.com has PH II trial results for the study of patients with advanced liver cancer not a cure but stabilized the tumor growth for extended time period.
The first-in-class prodrug, mipsagargin (G-202), showed promising antitumor activity and enabled patients with advanced sorafenib-refractory hepatocellular carcinoma to achieve disease stabilization.
https://www.onclive.com/view/mipsagargin-demonstrates-clinical-benefit-in-patients-with-advanced-hcc