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Just noticed that ENZN just recently updated its website. Now mentions:
Enzon Pharmaceuticals, Inc. is positioned as a public company acquisition vehicle, where it can become an acquisition platform and more fully utilize its net operating loss carryforwards and enhance stockholder value.
Also this new guy on BOD:
Jordan Bleznick
Mr. Bleznick has been a director of our Company since August 2020. Since September 2002, Mr. Bleznick has been the Vice President/Taxes of Starfire Holding Corporation, a privately-held holding company of Carl C. Icahn. He has been the Chief Tax Counsel for various affiliates of Mr. Icahn since April 2002. From March 2000 through March 2002, Mr. Bleznick was a partner in the New York City office of the law firm of DLA Piper, formerly known as Piper Rudnick, LLP. From March 1984 until February 2000, he was an associate and then a partner at the New York City law firm of Gordon Altman Weitzen Shalov and Wein. Mr. Bleznick received a B.A. in Economics from the University of Cincinnati in 1976, a J.D. from The Ohio State University College of Law in 1979 and a L.L.M. in Taxation from the New York University School of Law in 1980. Mr. Bleznick’s qualifications to serve as a director of our Company include his expertise in tax law and his involvement with other public companies owned by Carl C. Icahn and affiliated entities.
I noticed that too. I own some SESN as well. I think Vicineum will get approved. It will be nice when ENZN gets some of the royalties from it.
Lots of potential here. Shareholder meeting in a couple weeks. Wonder if anything comes out of that.
ENZN... I think you picked a good time to buy. They have earnings and shareholder meeting in a couple weeks. Maybe something comes out of that? The volume has been really good the last two days. Much higher than normal.
$ENZN This is it...something is in the works IMO. Moving higher on higher than usual volume
Nice! How many shares do you own now? If nothing happens you should consider taking it over. I’m sure you could make a deal with the guy that took over ownership to buy his shares. I tried to take over a company once and it costs about $25k to get the filings up to date. Not bad if you own a ton of shares.
ENZN will be the hottest buy out there soon IMO. Nice move up the last two days on huge volume for the stock.
With Icahn buying nearly all the preferred shares, we really don’t have anything to worry about. So much potential.
Even my MYRX stock has been buying shares of ENZN lol.
I’m surprised more people aren’t talking about it yet. It might be better than most SPAC’s out there IMO due to NOL’s and Icahn owning nearly half the OS.
Our day is coming soon.....I hope!
Oh nice! Thank you for the link! I saved the board. Dang, if my MYRX ever made a move like some of those then I would retire for sure lol
I have no idea. I’ve been holding ENZN for awhile now. I have made more off the dividends than I paid for the stock so all my shares are free plus a little cash left over.
Something will definitely happen I just don’t know when. I’m hoping sooner than later now that they have the cash to seek and buy a profitable company. Seems like Icahn would let other private companies know about ENZN since he has so much invested in it. That along with its NOL’s makes me think it’s one of the best shells out there.
But who knows how long everything will take.
Lol. Hopefully one day I will have luck with these shells that I have a decent amount of money in. It’s a bummer watching all the other pennies running while the ones I own aren’t doing as well lol
Wish I knew what the next big stock is going to be! You guys seem to be doing pretty good over here!
I agree. The thing I like is that Carl Icahn bought almost all of the preferred stock. It also can not be converted to common stock. Makes me wonder what his plan is.
Seems like ENZN is better than a SPAC in a way since it has $100 million in NOL’s along with the $48 million in cash it has.
Speaking of shells being SPACs....You should check out ENZN. They recently did a offering to raise over $40 million to eventually buy another company. Carl Icahn bought most of them and now owns about half the OS.
No one really talking about it that I know of. It only has a $13+ market cap even though it has over $40 million in cash now. Seems way undervalued. You should browse through the recent filings.
I also have just over 1M shares of MYRX that recently bought a 1.4% stake in ENZN. The CEO of MYRX also is a major shareholder of ENZN along with his buddy Carl Icahn. I’m still trying to figure all this out lol
Are you in AFFY? Was just curious if you were the one that posted about it awhile ago on the yahoo board. Trying to figure why it’s up 10x on more that normal consistent volume.
They did. But I think it has ran too high. Hoping for $35 or less next week
SNAP - Anyone else buying next weeks $80 puts for .73?!
Have you been following this lately? AFFY must have something going on. No one is talking about it yet it holds around .20 with decent volume.
Couchman also owns MYRX which is valued 10x less with very little volume. Makes me wonder if AFFY will be utilized soon
It's strange because I can't seem to find anywhere besides Yahoo message board that is talking about AFFY. And even then there isn't much chatter there.
Wonder if there will be more interest in companies utilizing these NOL shells if Biden were to get elected and raise the corporate tax rate to 28%
I also bought MYRX below cash value. Couchman aquired his shares for .035 which was a discount at the time. I like that MYRX still has 10 years before the NOL's begin to expire
What do you suppose is up with Couchmans other shell stock AFFY? People keep piling money in the .20's
Hopefully MYRX will have a same market cap run. That would be about .50 or so for MYRX to have same market cap as AFFY.
AFFY also had an ownership change. Do you know what percent of their NOL's can be utilized due to this?
Can a shell stock turn into a SPAC under certain conditions?
Are you the one in AFFY on the Yahoo board?
Thank you for the informative post! It would be great if the new stimulus allows monetization of tax credits.
Sine MYRX has $3 million worth of them, that would essentially double the value of the stock to at least .10
Since MYRX owns 1.5% of ENZN, that would add nearly $240k to the value of MYRX.
This doesn't include the ENZN share value or the value of the $147 million of NOL's that MYRX has.
Seems like lots of potential here
Interesting. What would that mean for MYRX? I will have to see if I can find that article
$MYRX .0422 x .044 Tight spread. Will go one way or the other soon. Still wondering why MYRX is buying shares of ENZN. Icahn will most likely be utilizing that one
TDA showing pre market volume of 10k shares for MYRX. Never seen pre market volume before
Someone is definitely buying shares. It does make you wonder if someone knows something. I think we are close to having both shells utilized. The statute of limitations is up on both so they can't get sued for anything that happened in the past. They are both clean shells.
MYRX - .05 Article showing that MYRX could be valued at $30-$40 million (current market cap is $1 million)
It's an older article from when the PPS was .14 but it's a good read:
https://www.valueinvestorsclub.com/idea/MYREXIS_INC/2414750439#description
MYRX - Article showing that MYRX could be valued at $30-$40 million (current market cap is $1 million)
It's an older article from when the PPS was .14 but it's a good read:
https://www.valueinvestorsclub.com/idea/MYREXIS_INC/2414750439#description
MYRX - Article showing that MYRX could be valued at $30-$40 million (current market cap is $1 million)
It's an older article from when the PPS was .14 but it's a good read:
https://www.valueinvestorsclub.com/idea/MYREXIS_INC/2414750439#description
Couchman’s AFFY vs MYRX:
Couchman owns:
5% of AFFY
20% of MYRX
AFFY $17 million market cap
MYRX $1 million market cap
This year MRYX has been buying shares of ENZN and now owns 1.5% of that company so far.
To match AFFY market cap, MYRX would be trading at .60 from its current .04 PPS. Huge opportunity here!
Couchman’s AFFY vs MYRX:
Couchman owns:
5% of AFFY
20% of MYRX
AFFY $17 million market cap
MYRX $1 million market cap
This year MRYX has been buying shares of ENZN and now owns 1.5% of that company so far.
To match AFFY market cap, MYRX would be trading at .60 from its current .04 PPS. Huge opportunity here!
Couchman’s AFFY vs MYRX:
Couchman owns:
5% of AFFY
20% of MYRX
AFFY $17 million market cap
MYRX $1 million market cap
This year MRYX has been buying shares of ENZN and now owns 1.5% of that company so far.
To match AFFY market cap, MYRX would be trading at .60 from its current .04 PPS. Huge opportunity here!
What's up with AFFY running? Is there a chat room somewhere where people are talking about it? Hopefully it's sibling MYRX is next.
I think MYRX has more potential than AFFY. Couchman owns 20% of MYRX and 5% of AFFY. MYRX has $147 million NOL's. AFFY has more but it had a previous ownership change so it's NOL's are limited.
AFFY market cap is $11.5 million while MYRX is only 1.2 million. MYRX is buying shares of ENZN stock and currently owns around 1.5% of ENZN.
I own 3% of MYRX myself with bids in at lower levels to buy more.
Wonder what level 2 looks like? I know MYRX has lots of bid support. I remember seeing a 500,000 bid at .018 a little while back. Would be nice to see .035 taken out as that looks like recent resistance level
I think MYRX could see a nice run. Couchman owns 20% of MYRX and only 5% of AFFY.
MYRX also has cash left which they have used some to recently buy shares of ENZN stock. I'm sure those share purchases have gotten the attention of Icahn. MYRX has $147 Million of NOL's
It's going to be very interesting how all this turns out. Couchman will most likely be appointed to the BOD which means he will be in close contact with Icahn. This bodes well for AFFY, MYRX, and ENZN. Maybe Icahn might take interest in Couchmans AFFY and MYRX since he owns several profitable business that could take advantage of the NOL's
That's awesome that you have 100k shares of ENZN. I think they will buy a profitable company with the rights offering proceeds. What is the advantage of doing the rights offering since it won't be tradeable? Is it only that they get 3% dividend?
I cant wait to see if MYRX gets involved with the offering or not since it owns about 1.5% of ENZN.
$MYRX .035. What do you think of Couchmans other shell $AFFY running to .18? Hopefully MYRX has a similar run. I own over 1 million shares of this.
Wonder what is going on with $AFFY? I hope $MYRX has a similar run. I own over 1M shares of that one. I think Couchman will utilize both of these shell stocks soon.
Found it. AFFY did have ownership change:
Affymax adopts tax benefit preservation plan Affymax announced that its board has adopted a Tax Benefit Preservation Plan, or Rights Plan, in an effort to preserve the value of its significant net operating loss carryforwards, or NOLs, in relation to the potential limitations under Section 382 of the Internal Revenue Code. The company had federal NOLs totaling approximately $481M at December 31, 2013, a substantial portion of which are limited due to a prior 'ownership change[color=red][/color]'. The company's use of the remaining NOLs could be substantially limited if the company experiences another 'ownership change'. In general, an ownership change occurs if there is a cumulative change in a company's ownership by '5% shareholders' that increases by more than 50 percentage points over the lowest percentage owned by such stockholders at any time during the prior three years on a rolling basis. The company noted that the Rights Plan is designed to serve the interests of all stockholders by helping to protect the company's ability to use its NOLs to offset future tax liabilities and is similar to plans adopted by other companies with significant tax attributes.
I think the news from ENZN is interesting. I've always thought Icahn will be the one that takes over ENZN. Now the company can use cash and issue shares to buy another profitable company to utilize the NOL's
It's actually a really good strategy. It could be one of Icahn's businesses going public too.
I'm hoping something happens AFFY and MYRX. Did we find out for sure if AFFY had a previous change in control? I think I read an article where it had. If that's the case then only a fraction of AFFY's can be used per Deleware law. I know for sure that MYRX has not has change of control so they can utilize 100% of its NOL's
I also find it interesting about MYRX buying over 660,000 shares of ENZN lately. Maybe that will catch Icahn's interest in utilizing MYRX shell too. Who knows for sure.
Sorry for the late reply. I have about 1 million shares of MYRX. I like it since it still has cash left to buy ENZN shares. I think it will get utilized eventually.