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Feb. 27, 2008
Copyright © Las Vegas Review-Journal
Agency sues former exec
By JOHN G. EDWARDS
REVIEW-JOURNAL
The Securities and Exchange Commission late Monday filed a lawsuit accusing Chester "Chet" Howard of Las Vegas, former chief executive officer and acting chief financial officer of AXM Pharma, of falsely reporting company sales and profits.
Attempts to reach Howard for comment failed.
AXM Pharma of Diamond Bar, Calif., is a publicly traded drug company that sold products to Hong Kong, other cities in China, and Taiwan.
The commission's lawsuit said AXM reported $3.2 million in revenue for the quarter ending June 30, 2005, but said most of the sum was for Sunkist-licensed vitamins and vitamin supplements before payment was assured and before some products were delivered.
Actual revenues were $329,000, according to the SEC. The company falsely reported $179,000 in profit but later restated results and recorded a $1.5 million loss.
The SEC made six claims against Howard including fraud, record-keeping violations, false statement to an accountant and aiding and abetting.
AXM Pharma shares, which trade on the Pink Sheets, fell 1 cent, or 15.4 percent, Tuesday to close at 8 cents.
Contact reporter John G. Edwards at jedwards@reviewjournal.com or (702) 383-0420.
Find this article at:
http://www.lvrj.com/business/16019452.html
Information Received on AXMP
Not sure what all this means though.
February 15, 2008
AXM Pharma Settles Improper Revenue Recognition Charges
The SEC imposed a Cease-and-Desist Order against AXM Pharma, Inc. (AXM). The Order finds that AXM fraudulently recognized approximately $2.8 million in revenues on a series of sales to a distributor in Asia for the quarter ended June 30, 2005, although the sales failed to meet several of the fundamental criteria for revenue recognition under Generally Accepted Accounting Principles. As a result, AXM reported revenues of over $3.2 million for the quarter, overstating its revenue by over 970 percent, and reported net income for the quarter of approximately $179,000, instead of a net loss of approximately $1.46 million.
AXM Pharma consented to the issuance of the Order without admitting or denying the Commission's findings.
http://lawprofessors.typepad.com/securities/2008/02/axm-pharma-sett.html
This is good news. If the stock starts moving up than they will have to cover. Heavy short is positive.
Is something starting to happen?
Moving up. ))))))
It is like aging.
.
.
.
.
.
http://www.greengeckofilms.com/waitinggame/The_waiting_game_logo.jpg
But at least with aging, you know the end result.'
I believe we have been here long enough to form a solid base.
Time to rise!
And Us? Up 18.2 percent with 3 hours to go. )))
Give it a little timem it will.
Just remember, this stock is not on a lot investors radar screen. Also, the ones waiting for it to take off are already loaded with shares, and have been for years.
It is time to start moving up ... hopefully.
:):):):)
http://www.kuan.cn/yellowpage/1/1/452329/
English, English, English Watch out for the period after Inc. and the commas.
""""""""""Beida Wei is a subsidiary of Beida Wei Ming Bio-Engineering Group Inc. Yuyuan Holding Company, is one of the major shareholders of Beida Wei Ming, which is a Shenzhen Stock Exchange (SSE 000408) listed company.""""""""
The company Beida Wei Ming is not a listed company, but because of the comma placements, Yuyuan is listed. Drop what is between the commas and it reads:
Yuyuan Holding Company, which is a Shenzhen Stock Exchange (SSE 000408) listed company.
Who knows what the hell Beida Wei Ming or its subsidiary really is? I do not.
Putting in Yuyuan Holding Company is puff. Why is it even in the release at all? Who knows, maybe the Bill Gates Foundation is also invested IN Beida Wei Ming? )))
The only good thing about this release is someone, hopefully someone, put up money to keep the doors open. That I am thankful for, for it Keeps Hope Alive. AMEN!
Off Topic
Today at 2PM XIDE has its conference call. This is another stock I am in at $7.11 after it fell back from over 10.00 inter day. Looking for it to go back there soon, but its held back at the moment waiting for the conference call. It seems like a solid company with a good future, and who does not need batteries? Don't know if you may have interest, but it is one worth taking a quick look at.
For AXMP, before we get a big move, looking at a few more months. JMO
There will be no dilution, conversion until the price is over $1.25 for this money. If it goes to $1.25 then at least I can smile a little bit.
The one thing I liked is that they are now going to get around to clearing up things with the SEC to get listed. The moment this stock gets listed, we are back in the dollars.
If they do as they say, we should get more news and SEC info in the future.
Anyway, what is one to do after all these years ... bail.... hell no, no way. I ride it to the grave or to riches. One thing is probably certain, I will get my wish one way or the other.
And this all started when I took their antibiotics and they worked. As a famous white haired investor, forgot the name, said ... try the products, if it is good, buy the stock. Well,
here we are.
Maybe, just Maybe, after soooooooooooooo long, we are going to start moving. Smiles to come. Patience is difficult but is Bliss and hopefully, $$$$$$$$$$$$$$$$
We are on a very slippery slope with nobody pulling us up.
Volume sucks, the price sucks, and the beat just keeps going on with no news.
Not good.
Much appreciated if you do that. The internet has nothing for AXM is releasing nothing. In the mean time, we drift like a in the sea. Sad!
Are we going back to .10 and start over? OUCH
Good luck Lenny
I have to stick with this ... hell or high water.
I know the day I jump will be the day something good happens. It has been too long a wait to say die now, but hopefully I do not regret the decision. Dead money, month after month, can get on one's nerves for sure.
Kodiak1
STRANGE
I just put in an order to buy 5,000 at .20 and it was filled at .19.
Not a good sign.
If I did not believe that we were going to take off someday, I would not be sitting on this one month after month, year after year now. Not sure that the long run will bring a strong company, but I do believe the day will come when we get that spike back up to 1.50 or so, and that will make the wait worth while. Those days it traded around .10 and even lower, about a half year ago, helped make the .20s more bearable and the future maybe brighter.
My opinion, to sell now would be the dumbest thing I could ever do and I know I would regret it some time in the future ... maybe a month ... maybe 6 months ... maybe a year or two ... nobody really knows at this time.
Good Luck .. let the dream continue
Not sure I want to see the numbers yet.
The numbers may just ruin my dream, like being woken up at the wrong time. )))))
It is sort of intriqing being on the dark side for a few years.
I believe most of the shares traded were buys. This would mean someone is buying, but then again I guess someone with provided company shares is selling. However, it is good that someone bought many shares at the ask, a positive. I also have the filling that with the new .com website they are building that we are getting close to moving up. HOPEFULLY
They did not run out of money.
The site is being refurbished.
http://www.networksolutions.com/domain-name-registration/domain-name-search-results.jsp
I wish the pest would multiply, at least up to $1.50.
Seems like activity is picking up for some reason the last couple days.
We do not even know if the factory is operating, but yet we plow are money into this secret company. Really strange, and I wonder if it is normal or we need to see a shrink. hmmmm
Looks like a little activity this Friday. I do not know if you remember, but back in 2004 and 2005, they had a habit of releasing news after close of business or late on Fridays. Maybe, just maybe, this is what the activity is about.
One thing this stock did, was to turn me into a long term investor ... but not planned. At least now I will save taxes on the big gains to come. They will be long term capital gains and not short term.
Everything has a bright side, but sometimes not planned.
One can only smile.
Just sitting and waiting with my 110,000 share -- getting use to the wait but some day I could use the few hundred grand.
TIME WILL TELL .... NO EMERGENCY AT THE MOMENT
It would be nice to get some news.
Did they refinance the factory as of April? What terms did they get? I would believe that this would be a major event, and requires a filing with the SEC. No refinancing, no factory, no company ... seems important to me.
I wonder how the preferred share holders feel. Coversion rate to common ... over $4. I wonder if they believe this will happen?
I wonder why the company they bought took shares valued at $1.25? Do they believe this to be the real value?
There is a lot to wonder about here, for sure.
I wonder why I am sitting on so many shares, and each day, wonder if I should buy more.
I just wonder: http://wonderofitall.com/
Do not throw in the towel, for it is not over and it will not be over. As I believe, we will see our 1.50 this year.
It makes little difference if it is .10, .15, .20 or .30, for it is at 1.50 that I will consider (think about) letting go of some shares.
THAT DAY WILL COME ... HOPEFULLY IN 2007
Some hefty buying also == from .15 bid to .18 ask, someone paid the .18 .... a buyer, not seller.
If you think about it ... who are the major share holders. Madam Wang has the big block of shares. It would make no sense for her to dilute for she would be the person most impacted. I do not believe they are diluting more than what is absolutely necessary to maintain the company.
What really impressed me was in mid 2006, the bond holders gave up the collateral on their loans. I believe these individuals are all part of the company (players) and friends of Madam Wang. They did it so that it would be easier to get bank financing.
Regarding bank financing ... I guess they got the refinancing for the building / factory, since it was due March 1, 2007. No announcement was made regarding terms for this financing. However, it is obvious that they received it or they would not be doing the other things that have been reported.
My opinion ... and I am holding 110,000 shares of this baby, is to sit back and wait ... 2007 or even 2008. Because it appears all debt and transactions keeping this one going are either insiders or friends of insiders, etc., therefore, they owe themselves. There are no outside creditors banging on the doors, only inside holders hitting there heads against the inside doors, trying to figure out the correct path to get it up and moving.
I have zero fear of this company going under, ever filing bankruptcy. They are not milking new investors, but seem to be doing it all from within, so they have no advantage of filing, for they would only be filing against themselves, and that makes zero sense.
Time will tell if I am correct, but since I got into this company a few years back by using their product (antibiotic) sold in Iraq, it worked and on the label was AXM Pharma, so I looked it up and ended up buying. At the time (late 2004) it was a quick profit. Bought at 2.46 and sold at 3.20, but got in and out a few times later. But the last time, since the .30s and down to .11, I only bought, for that 2.46 or 3.20 will really look good again.
So as a famous investor once said: "Try the product, if it works well, buy the stock." I did just that.
Waiting for the benefits, which I believe are worth the wait, and I feel are coming pretty soon.
I guess when you watch the grass long enough .... you see a new blade sprout. ))) I still believe we will see a buck fifty in 2007. I remember the day it went from the high .30 to a buck sixty in one day. A couple years back. It will happen again.
Waiting
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001121781%252D07...
Just like watching grass grow. )))))))))))))
Maybe the departed were paid in shares and sold them for the cash. Just thinking of why someone would sell and this is the only logical answer I have. For what it is worth!
Sample batches of new freeze dried Albumin.
April 8th, 2007 by amsam
Bevacizumab and Paclitaxel Yield Promising Results in. Which was created by HGS using the Company. Iron oxide particles embedded in biocompatible polymers. And AFS cells that were coaxed to become liver cells expressed proteins including albumin. Patients can travel and receive dialysis at. More ways to find the latest on Albumin. Pfaff 7570a>!
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Once freeze dried our products will remain. Well we made it quite clear that National wouldn. Hector yomo?
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The team is currently testing the membranes to see how they stand up to regular wear and tear. Atom thick filter can withstand surprisingly high pressures and may be a key to better separation of blood proteins for dialysis patients. Re closing in on the quantum world and you never know what the properties are going to be. We think we can engineer these membranes to provide superior discrimination of proteins. The chemical communication between the helper and stem cells can continue as if the two sets of cells were in direct contact. Which is a chief problem with conventional filters. Primary initiatives is securing foster parents to take care of homeless animals in Shanghai until we can find these animals loving. The Chinese Academy of Agricultural Sciences will provide technical support and transfer new research achievements in nutraceuticals to China Yingxia. Can be substituted with minimal loss in taste and nutrition. Attorney?
Our pipeline of quality new products will be strengthened significantly. AXM Pharma Receives Diabetes Treatment Approval In China. When such compounds are produced in food crops grown outdoors. Pollination and seed mixing during commercial growing and seed production. Researchers projected there are least million Chinese people suffering from chronic kidney diseases at present. The Scottish National Blood Transfusion Service SNBTS. Especially given the desperate need for blood donors. Which is the only one of its kind in Scotland.
Used to help blood clot and fight infection. That could result in pharmacologically active proteins showing up in the food of unsuspecting consumers. Think they can enforce even the inadequate system that is in place. Ethanol Tariff Loophole Sparks a Boom in Caribbean. How can a product manufacturer get away with making a product appear healthier than it actually is. Half the fat of the traditional version of the food. Pay attention to where and how various kinds of sugar are included on the ingredients list. Second or third ingredient would certainly be less nutritious than one in which two or three types of grains are listed before the sugar. The Company also reiterated its plans to launch CAPHOSOL. Aeg!
Cytogen will recognize SOLTAMOX revenues in its consolidated statement of operations when the Company has sufficient information to estimate expected product returns.
General and administrative expenses for the quarters ended December. Generation radiolabeled antibody that is in Phase clinical development for prostate cancer. Million settlement from Advanced Magnetics during the first quarter of. The event will be archived and available for replay starting approximately one hour after the call and continuing for days thereafter. Generation radiolabeled antibody to treat prostate cancer. Adverse events and other safety information may be obtained in the U. Egg yolks are made up of mostly albumin. Cover your face with a layer of the mixture and let it dry for to minutes.
And then cool water to seal the pores and finish the treatment. Today announced financial results for the quarter and full. And substantially reduced our net cash burn through a combination of tight spending control. Now in Phase trials for the treatment of sleep disorders. And is currently receiving payments under the LOI. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Bowel.
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Our content is reviewed and accredited by the University of Pennsylvania School of Medicine.
The researchers acknowledged that the study was limited by the single determination of measures of endothelial markers and fasting glucose concentrations used to define pre
I feel bad
I paid .30 for my 10,000 buy. ((((
Still adding for there is no way this stock is not going back up to at least 1.50 in the next year. Would prefer the 2.50 to 3.50 range though.