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xoxo...stock going to $2
If the authorized were 2B the outstanding would be 1.5B by now with debt holders converting and selling. Clearly it hasn’t gone through
If they authorized shares increased you’d see the dilution hitting daily like you did a few weeks ago. That’s not happening. And suddenly the authorized shares stopped 19k shy of 1B? Weird coincidence. Not
He rescinded it a month later. End of story
That’s from a month before they rescinded it. Yippie
Looks like authorized shares are maxed out!!!! Great news!
Nope. 1 B
exactly...he's still very much around and involved. thx
pulled up stakes and moved on???? um no. he's still chairman of the scientific advisory board
Only sub penny CV stock I know of with no dilution. .01-.02 coming
No. The increase was cancelled. 1B authorized shares are maxed out. No more dilution
he filed his intent to increase them to 2B but it didn't go into effect, so there is zero argument that it's 2B. It was clearly stated today that it hasn't taken place and he doesn't intend to. To your point that can change but currently its at 1B. Check w the TA as I did
neither has gone into effect, so until your scenario comes to fruition there is no dilution for the foreseeable future as the authorized shares are maxed out. I'm certain the next Covid PR will take us over a penny long before he has to go back and increase shares
Shares are maxed out. No increase in authorized and no reverse split means no more dilution. Next PR will send us to a penny
You said the other day they were increasing the authorized. Now they’re not. Pretty simple
They’re out of authorized shares so the “share selling scam” doesn’t exist at the moment. News takes us to .02+
run to .01-.02 coming next couple weeks
Going to $3+ end of March
Financing risk and delisting risk gone. Top line data late March
Turn on QVC!!!! Christy is on LIVE right now!!!!!
Dude. They’re pricing a financing tomorrow night. This will be $2 soon. Escape while you can
Offering happening this week. Going to .25
You’re a bit more sophisticated and make your own trading decisions, but I’m sure there are many retail investors (2/3 of the deal) that see a huge payday and will try and deposit their shares. And if I’m a broker at Alexander Capital I’m surely telling my clients to at least sell enough to take out my cost basis and ride free shares, if not half their positions. Brokers have mortgages to pay
no i'm referring to the June PIPE...call your broker...he'll tell you the same thing....today's effective notice registers the $6 june PIPE, if the company didn't file an S-1 then you're right it would be free trading in 6 months under Rule 144-straight from the deal docs
"Registration Rights: Issuer has agreed to prepare and file with the SEC, no later than the 45th calendar day following the Final Closing ("Filing Date"), a Registration Statement covering resale of the Common Stock purchased in this transaction and the common shares issuable upon exercise of the Warrants.
Issuer has further agreed to use its reasonable best efforts to cause such Registration Statement to be declared effective by the SEC no later than the EARLIER OF (i) the 120th calendar day following the Filing Date AND (ii) the 10th calendar day after the date that the Issuer is informed by the SEC that the Registration Statement will not be reviewed or is no longer subject to review and comments (such earlier date, the "Effectiveness Date").
If the Registration Statement is not filed by the Issuer with the SEC on or prior to the Filing Date, or the Registration Statement is not declared effective by the SEC on or prior to the Effectiveness Date, or the Investor(s) cannot make sales of securities under an effective Registration Statement for a number of days beyond a certain specified threshold, then for each "penalty period", the Issuer will pay liquidated damages until such registration-related issues are resolved (see Transaction Documents for penalty calculations).
Registration Statement Info:
Filing Date: 8/12/19
Filing Type: S-1
File Number: 333-233228
Effectiveness Date:"
.....I don't need to mislead anyone...not what I do
I think the stock could go to $40-$50 AFTER a financing when the company has a couple years cash and if they get fundamental biotech investors into the deal
my opinion
You know better than anyone that banking and research go hand in hand. And while Alexander Capital did an amazing job raising the company money they don’t write research. Banks typically don’t write research prior to a banking transaction, unless they’re likely to lead the next financing
Partnerships take 6 months minimum, too much lawyering even if someone wanted to do something near term. Could happen but very far out
$6 PIPE shares are now registered, unrestricted and freely tradable
https://www.sec.gov/Archives/edgar/data/1553643/999999999519002370/xslEFFECTX01/primary_doc.xml
If I had a stock cert in my desk drawer from that deal I'd get it deposited into my account as fast as possible and sell it. If I think it’s going to $50 then I can buy the stock back in the open market and I’m in full control of my shares. Because if it drops to $15 and I am sitting on a cert and I decide to try and deposit it, that process takes a week, by the time it gets deposited it could be $10
5 baggers on pipes are extremely rare
That’s what the hedge funds and family offices will do
How is it getting to $50 with its largest catalyst behind it and volume drying up?
looks like yesterdays short squeeze is over for now
Up 50%. Great day longs
Kinda like Dick Fuld and the rest of the Lehman criminals...all should be in the pen
Shares ARE currently RESTRICTED, they're not registered. When S-1 goes effective then they're unrestricted. 144 isn't a "filing" it's a RULE, so things in fact have not changed since the mid 80's, the RULE's and FILINGS are still intact, even since my days of working w John Gutfreund
Shares can’t be registered AND restricted. They’re either registered and free trading or they’re restricted. Most pipes are restricted for 6 months then can be sold under Rule 144. In this case investors put a clause in the deal docs saying the company had to file an S-1 within 45 days which was done in August. Then it says the S-1 has to be effective in 120 days or there are liquidated damages. 120 days from June 20th is today/tomorrow. I’d expect to see a notice of effectiveness by Tuesday. Otherwise the company owes investors liquidated damages past 120 days to the tune of 1% a month for every month its not effective up to 6 months. So if someone invested $100k the company owes them $1000 if the shares aren’t registered in next couple days
More cash out the window
I’m assuming you’re referring to me. I’m “A” moderator not “thee” moderator. There are 6 mod slots on every board. 5 up for grabs. Feel free to grab one
Secondly, I don’t know much about AXSM, I’m familiar w VTGN. And I always liked RLMD science and when the stock was $1 years ago I thought it was very undervalued. Issue was they were broke and had a very difficult time raising money. Fast forward and after a couple of reverse splits and PIPE’s they have what I consider to be a very large market cap compared to where they are in the clinic. They still are 4-5 years and $100M away from any sort of approval. And while Phase II data was very encouraging Phase III is a whole new ballgame. As someone who has spent 25 years in the small cap space at small cap investment banks, I know that until they get several years of cash on the balance sheet, biotech focused hedge funds won’t invest.
Maybe the stock goes to $50 as others suggest in the next month, but highly unlikely. If it were going to $50 it would have last week. And with the June pipe going effective any day, the stock will likely see $8 before $30 again. Which means next round of financing will likely be in the single digits. After that maybe it goes to $30-$50 but their biggest near term catalyst just hit. I don’t see a major catalyst like that for another 2 years
I’ve been here a week and I’ve been right and he’s been wrong since then. As far as biotech investors, there are none currently invested here. All the investors from the last financing are listed and it’s a lot of retail and the usual deal accounts from institutions like Iroquois. New deal coming once the S-3 goes effective
Lol. I don’t know if you’re new to small cap stocks but when they need to raise cash twice a year, you sell on the data pops and buy back after they raise cash again. Unless you like round trippers
Actually ihub does it
Diluting for cash is necessary for the long run, for the short run it will crash this back to $6
agree, the SEC filings are crystal clear. S-1 filed to register restricted shares from $6 PIPE go effective any day. Company burns $3M a Q and just filed a shelf to raise even more money. SEC filings are indisputable and clear as day
The company burned $12.7M in 2018 ending June, That's over $3M a Q....they had $9M cash end of June....it's October, so cash is closer to $ $5.8M right now. Will end the year under $3M
Next financing and dilution is right around the corner
https://www.sec.gov/Archives/edgar/data/1553643/000121390019020604/f8k1019ex99-1_relmada.htm
Maybe after the next raise that's around the corner
New shelf filed for $200M (S-3) and S-1 filed to register the $6 PIPE from June...once that goes effective look out below
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001553643&owner=exclude&count=40&hidefilings=0
Like I thought. No sept raise and broke