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Have you ever received a response when you emailed?
I believe that is part of the tax code. You would have to look at the guidance in that particular section of the code that all has to do with transfer of ownership.
Agreed. For some reason it just hasn’t garnered the attention that some of these others have. I think you may be in AFFY and ENZN as I know you have mentioned those before as they all have the same connection. Those have both had very nice runs recently. I should have taken some of what I put into MYRX and spread it between the three. I just liked this one the best. Still trying to understand the long term play with the MYRX purchase of ENZN shares, but it looks like that was a good buy right now.
Anyone have details on what the royalty structure for ENZN would look like if this received approval?
Check out their recent filings and you will see it there.
Just trying to figure out the benefit to linking the two essentially. Other than the royalties, they are both just NOL shells. Any ideas what benefit there would be in tying the two together? I guess I just don’t see the plan there. For example, if ENZN were to acquire someone or be acquired what good would that do MYRX other than the appreciation of shares they own of ENZN? Is there a way they could combine these entities into one and keep all NOL’s?
Any thoughts on what the plan may be? Both are NOL plays, correct? I realize ENZN has other potential with royalties and possible additional future royalties depending upon an ongoing trial. I believe he is involved with both MYRX and ENZN. Just not sure what this might mean if anything.
Don’t understand the way this trades.
What is interesting is the increased activity on this board. Where did all these folks come from? If it is in response to the SA article then it is likely the same reason volume has slowed.
My thoughts exactly. Please don’t go it alone!
No, 1.1 million is the last balance sheet cash number. They have 150 million in NOLs.
Verrrrryyy patient! Lol
The spread and bid ask jumping on this thing are crazy!
Running up and on increased volume. Would love to get news.
Getting interesting. Wonder if it is just renewed interest from article or something is in the works.
Noticed this was your first post on IHub. Just curious what brought you to MYRX?
Look back at some of the SA articles or posts here on value estimates. Low end would be .30 and on up from there. Most recent article had $1 valuation. It could go much higher depending upon the merging company.
Yeah, I just hope that isn’t the only reason for the recent increase.I don’t know if the website refresh makes me feel better or worse. If it means we are still looking with no prospects after five years then it could be quite a bit longer. Do you recall what average price Couchman is in at?
That likely explains the jump - SA article. Completely agree with his assessment which is obviously why I am in and continue to hold.
Getting interesting.
Looks like some pre-market volume today.
Wow! What is going on? Not going to get my hopes up. Should have bought some down in the .008 range. Would have been much better off flipping this over the years. I still think it has tons of potential. I was just in a shell that jumped 600% on RM news and it is 1/100th as attractive as this one.
That comment makes me think of Synergy. I got out early and did okay but lesson learned. On this one my main concern is a partnership. I am not interested in a go it alone strategy.
Ugh. Quite a discount. Maybe this helps put a floor in for us.
That is around 5% more of the company by those numbers so it is material. That said, I am more concerned with the long term plan (e.g., partnership).
Expectations of this likely were keeping a cap in the price. Hopefully this gets them through approval.
I think for preservation of the NOLs there is a cap on percentage ownership. Don’t quote me but seem to recall it is around 5% which would be around 2 million shares. He might not be able to buy more without exceeding the cap they installed.
Selling down here is unbelievable. Something like a 290k market cap at this price.
Fair enough and I have similar thoughts. I would point to WMIH which was a similar but much larger NOL shell started same year and they just recently got a deal done. That said, they were much larger so should theoretically have been easier to get a deal done with MYRX. He has 3.5 million shares so I still say he has a vested interest to do something - not worth much at current price. I have been in and am currently in another shell with not near as much going for it (No NOLs) trading at significantly higher market caps. But I guess it all comes down to who has it and whether they will get a deal done m.
Edit: My 3-4 times estimate was based on an incorrect share count. So at 35 million O/S and 8 million NOL valuation would be .23 a share which is 23 times current value.
Okay so let’s say there is no cash left. Still undervalued shell, correct? $150 million NOL - can’t remember what that equates to in other transactions but let’s just use a 21% corporate tax rate that would be $31.5 million. Now you wouldn’t expect to get all of that but if you got only 25% in an RM then that alone is 3-4 times current price. That doesn’t account for getting a clean shell or any other items such as possibility of cash left.
Always open to other thoughts and love to hear some others opinions. So what are your thought on it Paullee?
Please let me know if you hear anything. 500k at this price isn’t much dollar wise but it is from a outstanding shares perspective. Extremely tempting at .01 - would have to go back and run the numbers with this below cash and NOLs even at a discounted value to get a reasonable target. Why someone wants out after all this time is perplexing. It is tax loss season so that could explain but you would think if you held after the distribution you would continue holding. Hard to know though.
We are going on three years since the passage of three years from 2013 for the NOLs, correct? Just can’t figure out if they are working on something and when that might materialize. I guess I just expected it to trade sideways until that point so the selling pressure is unexpected.
No. Will try at some point although not sure what good it will do. Have you spoken with them lately?
I can’t believe we are looking at a penny ask! This has just been sad lately. No buying pressure when you would think with the balance sheet and NOLs this I a steal at these levels. Sure makes you wonder. I mean cash liquidation with no NOLs is over .03 by my calculations. But after 5 years maybe folks giving up? Not sure.
Hey Aqua, do you have contact information? Would love to reach out to confirm he is still working on trying to monetize this shell (cash and NOL’s).
I never thought I would see this thing so low. Bid at .007! Geez. Cash value alone this could be liquidated over .03 and that is just liquidation. Factor in the value of the tax carry forward and it is substantially more. I just don’t know what to make of it. JMO
Been a long time. Need to look back at Golf Trust and some other deals he had to see how long it took to materialize. Don’t remember as it has been a long time since I looked at the timeline for those.
Grabbed some more down here today. Not sure why at this point lol
I am hoping they still will. Grabbed some more today. Safety readout any day now I believe. Perhaps any potential acquirer or even partner is waiting for that last hurdle to be cleared?
Safety readout is any day now, correct? Price action is terrible considering what is on the horizon. Grabbing some more down here but nervously.
Someone keeps bid jumping me but maybe I should be glad with the small fills of 200 shares.
What does the timeline look like for an update on NEO versus current cash burn?