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Still here -- just not as sanguine as I was a few months ago. That hasn't stopped me, though, from continuing to add a few thousand shares (or more) each week over the past several months...
After my conversation with Mr. Maza several months ago, I was much more encouraged than I am today. And, it sounds as if LV Cowboy received a similar telephone message from him more recently -- hope that it proves to be accurate and they are, indeed, filing the financials and lining up newe business.
The patience of Job is required with this stock -- along with a bit of Forrest Gump gullibility.
Best,
Jimmie
Hi Lenny Penny -- almost expected a post from you. Always seem to appear at the slightest hint of potential bad news...
Here is the information, from an earlier post, for anyone who would like to confirm the veracity of Mr. Maza's statments (from March 25th 2008 email) that the company is definitely "alive" and "We are working on getting up to date on all our financial filings."
Mr. Elliot Maza, the Chairman of Audit Committee, also serves in that capacity for two other companies:
www.intellectns.com
Auriga Laboratories, Inc.
You can email Mr. Maza at elliot.maza@intellectNS.com
Best,
Jimmie
Thanks -- I'll have to read up about that.
Interesting morning. Over 120,000 shares sold -- all at .06. Don't know if this is some sort of head fake or "bait" to get the share price up -- curious though.
I've never recommended another stock, but I will mention that I've been holding HDY for months and months. It has a really nice pop last week on some seismic data. I'm hoping that my patience will prove as wel founded with AXM Pharma.
Best,
Jimmie
I'm surprised that the share price has gone up (slightly) over the past few sessions. It looks as if someone bought 24K shares after the close on Friday. Considering you could have gotten all the shares you wanted for about .04 just 2 weeks ago -- this is also unusual.
LV Cowboy: I have an account with Charles Schwab and with Fidelity. They do NOT show any shares available to "sell short."
Do you know if you are able to get any shares for a "short sale" through your broker? (I'm trying to determine if recent activity is just people buying shares in order to "sell short.")
Thanks,
Jimmie
I understand your reluctance -- completely.
I've never "invested" in a "penny stock" before AXM Pharma became one. I do believe, however, that was largely due to the greed and dishonesty of the FORMER CEO, Mr. Chester Howard.
Unfortunately, those left behind in management, including new CEO Wang, have a lot of ground to make up as a result. Especially for long term investors in the company.
Still, unless the new factory is a total sham, it still appears that there is a strong possibility of turning things around -- and even of getting their manufacturing and sales to a profitable level -- eventually. I supose the question would be: when?
Goo luck to all. For now, I'm still "in."
Jimmie
LV Cowboy and El Capitan: I've made some great trades with Google and ISTA over the past month. I'm trying to decide if I should dig myself in deeper by adding to my AXMP position...
I believe that, even now, the CEO, Madame Wang, owns roughly 1/6 of the outstanding shares. What do you think is likely to happen over the next 6-12 months? Any chance for "real" news that might affect the stock?
Thanks.
Jimmie
Howdy LV Cowboy.
I was filled for 10,000 shares at .04 on Friday. Should I be happy -- or concerned?
Sadly, the share price hit as low as .035. I see from the chart that is the second time that has occurred... I know that a stock often "retests" its low. I'm just not sure that any of that applies when you are talking about a stock on the Pink Sheets which has extremely low volume and no real regulation.
Any thoughts on where we are headed. Is .02 just a few weeks away? Lower than that?
Curious to hear your opinion.
Jimmie
Amazing. Looks as if the share price will be .03 by next week.
Is anyone else here -- beside me -- foolish enough to purchase additional shares at this price?
Unfortunately, just got my tax refund and I still have faith that the company could, eventually, be successful.
LV Cowboy? DSD? Am I certifiable?
Jimmie
Earlier this week, I received a copy of an email sent from Elliot Maza, Chairman of Audit Committee for AXM Pharma.
It said:
1) The company is "very much alive"
2) "We are working on getting up to date on all our financial filings."
Company Officers
>
>Ms. Wang Wei Shi: CEO and Chairperson
>Chaoying ("Charles") Li, Esquire: Director
>Elliot M. Maza, J.D., CPA: Director, Chairman of Audit Committee
>Tracey O'Neill: Independent Director
>Baozhong Zhang: Director
Given the fact that the SEC has been sifting through this company for almost 2 years -- I would think it unwise to have a Director of the company make a public statment via email, i.e. that the company is alive, if ANY imminent collapse WAS likely.
The filing of the 8-K, if anything, would suggest that the officers of the company are doing their best to get things back on track and, hopefully, emerge as a viable and profitable company. Won't be tomorrow -- but working toward that goal.
We'll see.
Best,
Jimmie
LV Cowboy: My friend from CNN forwarded an email to me earlier tonight. He received a brief reply from Mr. Elliot Maza, the Chairman of Audit Committee.
Mr. Maza confirmed that the company is, indeed, still "alive" and that "we are working on getting up to date on all our filings." Direct quotes.
That alone makes me feel much better... I will hope that I continue to feel that way AFTER the financials and other business updates have been made public. Taken together with what you've been told today -- I think there is some reason to hold out hope for a turnaround.
Best,
Jimmie
LV Cowboy, A friend at CNN has done some digging for me:
Mr. Elliot Maza, the Chairman of Audit Committee, also serves in that capacity for two other companies.
www.intellectns.com/main.php
Auriga Laboratories, Inc.
You can email Mr. Maza at elliot.maza@intellectNS.com
My friend has called (and sent an email) asking Mr. Maza if he is STILL on the board for AXM Pharma. I'd encourage any other "longs" here to do the same.
Hope you've gotten some additional info from calling the number you mentioned.
Best,
Jimmie
LV Cowboy, I nearly fell out of my chair:
"I asked him about the Chinese web site being up for sale, and he didn't know anything about it. He just kept saying things were looking better at the company. Needless to say this isn't much and I don't know how much stock can be put in what Jay said. If I get a chance I will try calling this number tomorrow and see if a woman answers and try to get her name and see what she says is going on. Let's hope her name isn't Madamm Wang and she selling massages with a happy ending to pay the phone bill."
I'm ashamed to admit, but, my first response was to estimate the annual revenue possible from this scenario...
Thanks for your efforts.
Jimmie
Chinese Web site formerly used by AXM Pharma is "for sale"
Althought the U.S. web site is still "running" -- the 2 links for the Chinese web sites are not. Discouraging.
Thoughts LV Cowboy, El Capitan or Kodiak?
Are taps sounding?
Jimmie
DSD: Do you hear any singing? Yesterday we hit .04 again -- although closed at .055. Any feeling on what/where we are headed?
Also, LV Cowboy -- have you thrown in the towel?
Increasingly difficult to remain hopeful without any company information on developments.
Best,
Jimmie
DSD, LV Cowboy, El Capitan: What are you guys thinking?
I have to say that I'm REALLY concerned/puzzled by the lack of any press release regarding the end of the SEC investigation. You'd think that a company which has been under intense scrutiny for 2 years would WANT it known that, other than the former CEO Chet Howard being charged, the company was not implicated.
This should have been big news for them.
Coupled with the lack of any progress made in the last year -- I have to admit that I am feeling downbeat.
In this age of Google and Baidu, you'd think it would be fairly easy to get some information on what the heck is going on with their operations in China...
Taking a deep breath.
Jimmie
Results for the past 12 months?
Company Officers
Ms. Wang Wei Shi: CEO and Chairperson
Chaoying ("Charles") Li, Esquire: Director
Elliot M. Maza, J.D., CPA: Director, Chairman of Audit Committee
Tracey O'Neill: Independent Director
Baozhong Zhang: Director
Wonder when we will receive some indication of what the new Board has accomplished over the past year?
Jimmie
PhillyPA: You know the "current financial state" of the company. And, I wish you luck in convincing an attorney to go after the former CEO "Chet" Howard. You also seem to have quite an interest in lawsuits with several different companies, including PGSW and others...
I'm pretty certain, however, that most of those here are hoping for the OPPOSITE of what you desire -- we would LIKE to see the company rebound from the poor management and dishonest (perhaps illegal) activity of the former CEO and CFO.
Good luck with your many class action and personal lawsuits.
For the rest of those here with a GENUINE interest in the success of AXM Pharma, good luck also.
Jimmie
PhillyPA should be pleased to hear that Mr. Howard will, at least, have to answer for his alleged illegal acts.
I'm very happy that the SEC did not choose to pursue any punitive action against THE COMPANY. I hope that, once the dust settles, this will allow them to focus on their core business.
With dozens of licensed products, established distribution outlets, a new state of the art factory and executives with DOZENS of years of sales experience, I still have to believe that they can make a huge success out a company that serves 1.3 billion people domestically!
We'll see if that (continued) faith is justified.
Best to all,
Jimmie
Again, I'm amazed there hasn't been any press release from the company stating that the investiation has been resolved.
Especially, since the decision was IN FAVOR of AXM Pharma! In fact, the last update from the company was about the new product sales figure -- nearly 4 months ago.
It is becoming increasingly difficult to remain hopeful about the long term prospects of the company -- without SOME sort of information.
Hopefully that will be forthcoming soon.
Jimmie
Decision made:
_________________________________________
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934 Release No. 57330 / February 14, 2008
ACCOUNTING AND AUDITING ENFORCEMENT Release No. 2784 / February 14, 2008
ADMINISTRATIVE PROCEEDING File No. 3-12955
In the Matter of : ORDER INSTITUTING CEASE-AND-: DESIST PROCEEDINGS, MAKING AXM PHARMA, INC. : FINDINGS, AND IMPOSING A : CEASE-AND-DESIST ORDER Respondent. : PURSUANT TO SECTION 21C OF
: THE SECURITIES EXCHANGE ACT
: OF 1934
:
:
:
I.
The Securities and Exchange Commission (“Commission”) deems it appropriate that cease-and-desist proceedings be, and hereby are, instituted pursuant to Section 21C of the Securities Exchange Act of 1934 (“Exchange Act”), against AXM Pharma, Inc. (“AXM” or “Respondent”).
II.
In anticipation of the institution of these proceedings Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934 (“Order”), as set forth below.
Curious. It is equally strange that there has been no dissemination of the outcome of the SEC investigation...
The ruling was, in fact, excellent news. Since the company was granted the relief it requested -- you would think that a press release or public notice would be circulated to inform everyone that AXM Pharma can now "get back to business."
Puzzling.
Jimmie
Good luck -- I hope you are successful. Think I may try for about half that amount of shares myself.
Best,
Jimmie
PS Would love to see sudden "wave" of buying -- 1+ million shares -- to catch whomever is stepping on the bid/ask with their financial pants down...
Can't hurt to wish.
Interesting. Despite the fact that the SEC investigation has been concluded -- with the specific rememdy sought by the compnay -- the stock is getting hammered.
It would seem that someone is trying to undercut any benefit fron the resolution of the SEC inquiry. For my part, I wish I were able to add a few thousand shares at the current price of .06.
Facts: The October press release announcing the first day sales of $375K for the new product. A full mangaement team in place, with an experienced accountant. A thriving economy and 1/5 of the worlds population as domestic customers -- when the heck is something positive going to happen with this company?
Thoughts, DSD or LV Cowboy or Kodiak?
Jimmie
The company, under new CEO, reported the improper revenue recognition THEMSELVES to the SEC:
"We reported this matter to the SEC which then decided to conduct an investigation to determine if we and others may have violated the reporting, anti-fraud, accounting and other provisions of the federal securities laws. The investigation is in a relatively early stage and we are not able to predict its outcome. We are fully cooperating with the SEC in this investigation."
The SEC has determined that no fine or further punitive action will be taken against the company ir the current management team.
Again, except for PhillyPA, (and his prospective attorney) this matter is resolved.
Good luck to all longs,
Jimmie
Good news. For everyone, except maybe PhillyPA. As the SEC conducted an extensive 2 year investigation and chose NOT to pursue anything beyond the "cease and desist" reprimand, this would appear to end that chapter.
Hopefully, this will allow AXM Pharma to put the whole Sunkist debacle (due to the former, less than honest, CEO) behind them and, once again, concentrate their efforts on establishing and expanding the business under the new management team.
I'm glad that another obstacle on their path to (potential)profitablity and success has been removed.
(For what it is worth, I hope the former CEO and his confederates are held accountable in the civil courts.)
Jimmie
"(Sittin' on) the Dock of the Bay"
watching the tide roll away -- just wasting time.
January 2008 Short Interest:
AXM PHARMA INC (AXMP) OTC Type: Other-OTC
Short Interest for January 15 2008
Short Interest: 158,180
Percent Change: 3.07%
Average Daily Share Volume: 64,858
No real increase in shares sold "short"
Still no indication of what might happen next, either...
Jimmie
DSD: There is no reason to ascribe "meaning" -- good or bad -- to the lack of news. With all respect to Cheng, I don't think it portends anything positive or negative.
Until we get some information from the company, all of this is just supposition.
I was encouraged by the fact that Ms. Wang had "assembled" a new board (with 2 American directors -- one of whom was chairman of the finance committee), announced new distribution agreements and secured additional investment capital. For all of those "positives," however, there has been no discernable benefit.
It has been roughly 3 months since the last press release -- let's hope that some bona fide good news is forthcoming.
Best wishes,
Jimmie
I hope you are right about this, LV Cowboy:
"None of us knows what is happening with axmp, but once Madame Wang took her company back I expected that we would hear nothing untill she can announce a complete turn around. In China no news does not mean bad news, as long the company still exists there is hope. Good luck to all us longs."
The press release from last March said the company PROJECTED to earn approximately $12 Million in 2007. In August they announced a 2.4 Million financing package (part of which was to be used to help tranfer from the Pink Sheets to the OTC BB) and in October they announced a representation agreement that had sales of almost $375,000. on the first day. Sounds great.
But, given all of these "positives" had no real effect on the stock or its share prive, it is a bit hard to stay optomistic.
Like both of you, however, I am in this for the long haul. Just hope I don't run out of gas before we reach the finish line.
Best,
Jimmie
On a more serious note, when the company received the recent $2.6 Million financing package, part of that was to be used to move from the Pink Sheets to the OTC -- with more information and visibility, ostensibly.
I'm increasingly concerned that we have had no additional indication on what/where the company is in regards to that move. Or what, if any, progress has been made to establish themselves as a reliable manufacturer or distributor for other products...
Open request to the company to give us shareholders SOMETHING upon which to continue sticking with AXMP.
Other thoughts?
Jimmie
New product?
Is AXMP expanding into the medical device field? Because, this is starting to feel like Chinese Water Torture? ;-0
Jimmie
El Capitan: Can you push the bid/ask up to at least $2.00?
Here's hoping that you are correct -- and that 2008 will be "our" year.
Best,
Jimmie
LP: I couldn't agree with you more. Following this stock does, indeed, take more patience than most people have.
Since yours has run out, I hope that you are able to watch your grandchild grow or plant a garden or do just about anything that might help you get past this poor investment choice...
I, however, choose to continue to hope (perhaps foolishly) that Madame Wang and the others with a vested interest are, very slowly, making some incremental progress. We'll see, one way or another.
Again, best to all other longs,
Jimmie
China: 'The Best Place to Invest in the Next Five to 10 Years'
Friday December 28, 2:29 pm ET
ByKnowledge@Wharton, Special to TheStreet.com
The Carlyle Group, one of the world's largest private equity firms, has been in China for nearly a decade and has contributed to the fast-growing private equity industry in China. Why is private equity so important in China now? What are its major challenges? China Knowledge@Wharton recently interviewed David Rubenstein, co-founder and managing director of the Carlyle Group, which was established in 1987 and today manages more than $75 billion in 33 offices around the world.
China Knowledge@Wharton: Many private equity firms have their eye on China. What are the opportunities and dangers there?
Rubenstein: We are very large investors in China. We operate in Shanghai and Beijing with very large teams, all of them PRC People's Republic of China natives. I think the single most exciting place to invest over the next five or 10 years is China, both in buyouts and in venture capital. Venture capital is already booming. Every major venture capital firm has a China strategy. We have a very good firm in China to do these kinds of transactions. Buyouts are more complicated in China because the government doesn't want large companies being sold to foreign interests. We own a lot of companies in China but we have minority stakes in those large companies. And they have done quite well.
It takes a long time to make the investments work. The rules are different from those in the United States. You have to understand that. You have to be very patient. I've told people, if you want to invest in China, which is a very good thing to do, be patient. Don't expect profits overnight. People in China don't wake up every morning and say, "How can I make American investors richer?" They don't do that. They want to build the best economy they can in China.
Let's hope so!!
Happy New Year,
Jimmie
Ditto. And, I suppose we'll all be working as "greeters" at Wal-Mart until we are 100 y/o as a result.
I agree with DSD, though. With the announcements of exclusive marketing and sales, financing and the plans to switch from the "Pink Sheets" it is disconcerting that none of this seems to be helping the company stabilize and, hopefully, begin to grow.
Best to all for a healthy and successful New Year...
Jimmie
LV Cowboy: Ten dollars?!! Good Lord. If we get back up to $2.50, I'll be tap dancing on the nearest table!
Sincerely hope we hit either of those targets...
Best,
Jimmie
Let's see. Maybe 5 months?
It has been about that long since your last histrionic post preciting an imminent huge reverse split. And, your promise that, back then, it would be your last post:
"solution: you probably already guessed it. can't bring myself to put it down, but 1 for 5, 1 for 8, maybe even as high as 1 for 10 likely. this will probably be the next event on her calender of activities, within the next month most likely. hate to bring it up, but that's what I see as the handwriting on the wall. for longs sake, hope I'm dead wrong. just passing through, will be my last post here. best wishes to all here."
Obviously, so far, both of those things have failed to occur.
Best,
Jimmie
Your motive, LP? I'm most curious about WHY you continue to make negative posts -- after repeatedly saying you would not...
I have to say it is (one) of the reasons I continue to acquire shares when they are below .07. Can't help but beleive there is an ulterior reason you continue to bray about the stock.
As always, we will see.
Best,
Jimmie
Incorrect:
AXM Pharma Enters Into Representation Agreement with Leading Pharmaceutical Company
Wednesday, October 03, 2007 08:47ET
CITY OF INDUSTRY, Calif., Oct 03, 2007 (BUSINESS WIRE) -- AXM Pharma (OTC: AXMP) announced today that it has entered into an exclusive representation agreement with Xian Jiahui Pharma Co., Ltd., a leading Chinese pharmaceutical manufacturer. Under this agreement, AXM Pharma will represent Xian Jiahui in the sale of new medicines, including its patent-pending Shen Kang injection/suppository. AXM sold approximately $375,000 worth of product in the first day of sales.
From this press release 2 months ago, we know they had sales of nearly 400K on the first day with this new product.
Problem is, we don't know WHAT ELSE or WHAT EFFECT that is having on their ability to gain traction with sales and generating recurring revenue. That, ultimately, determines the success OR failure of the company. For now, I'll give Madame Wang the benefit of the doubt and hopoe her 10+ years of experience will help to pull off a miracle.
Best,
Jimmie
Post from 4 days ago:
"Although the share price seems to be in stasis, unless there is some type of substanative news or company developments, the price will likely again start falling."
Too bad that seems to be exactly what is happening.
Jimmie