PharmaCyte Biotech Inc (PMCB)

[Hotelier51]

From efoodsafety to Nuvilex to Pharmacyte. A history of Red Flags.

Former efoodsafety Director Ralph Baughman. SEC court deposition:

Quote:A: you ever heard of Ralph Baughman?
Q: No.
A: Well, Ralph Baughman was a penny stock promoter in Salt Lake.. He was ... the wife, April Baughman, who I was with for eight years. We have a son.Well, he always used to tell me his pictures were bettE~r than mine. And he was talking about his stock. And he would set up stock things purposefully, fraudulently, to rip-off. And that's just all. That was it. There wasn't any... I'm going to do a service here. If there was any service, it was just a promise to get the money.Example. He went over to San Francisco ... between San Francisco and Sacramento area over there, and sold telephone books, local telephone books. Got a bunch of salesmen and collected the money. Promised ads. Took the.
money and left town. Now, Ralph did some time in jail over this. They caught him on some of the stuff. But anyway, that's Ralph Baughman. That was the ... I knew him just off and on. I talked to him. But I never really understood what he was doing. But I knew that every single bit of stock that he had was bogus. I saw him at different times, put deals together-and rip off people and have it go down. I saw Dale Baker do it. He did it to me. I saw John Worthen do it. I saw every single one of these guys."


From:

Quote:SECURITIES AND EXCHANGE COMMISSION
In the Matter:
File No. HO-3198
ITEX CORPORATION
Witness: MICHAEL RICHARD WHIPPLE
PAGES: 1 through 232
PLACE: Fort Worth, Texas
DATE: September 4, 1997


Connection:

Quote:Ralph Baughman International Fumigators, Inc. P.O. Box 263550 Houston, TX 77207-3550

September 24, 2004

Board of Directors
eFoodSafety, Inc.
1370 St. George Circle
Prescott, AZ 86301

To the Board of Directors:

I, Ralph Baughman, Director hereby inform the Board of Directors of eFoodSafety, Inc. that as of this date I resign from the Board effective immediately.

I wish everyone the best of luck in their future endeavors.

Very truly yours,



Quote:SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933

EFOODSAFETY, INC.
(Exact name of registrant as specified in its charter)

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated:

Dated: August 11, 2004 /s/ Patricia Ross-Gruden
Patricia Ross-Gruden, President, Treasurer and Director
Dated: August 11, 2004
/s/ Clarence W. Karney
Clarence W. Karney, Chief Executive
Officer, Secretary and Director
Dated: August 11, 2004
/s/ Scott McFee
Scott McFee, Vice-President Operations and Director
Dated: August 11, 2004
/s/ Richard Speidell
Richard Speidell, Chief Operating Officer and Director
Dated: August 11, 2004
/s/ Robert Bowker
Robert Bowker, President of Knock-out Technologies and
Director
Dated: August 11, 2004
/s/ William R. Nelson
William R. Nelson,
Vice President Research & Development and Director
Dated: August 11, 2004
/s/ Ralph Baughman
Ralph Baughman, Director


Clarence Karney, founder of the original company, formed the Pump n Dump Produce Safety after a tragic breakup with efoodsafety:

Quote:"Clarence William Karney,former CEO and chairman of the board of Produce Safety&SecurityInternational,has made tracks.He stole a car,and abandoned his wife,(one of two )and is supposedly in the fresno ,california area with his other wife,after he cleaned out the one in Texas,the man is a fraud,conman and compulsive liar.The texas wife is looking for her car,he stole from her,a Mercury Marquis 2006,lic.plate # BDR 387 , anyone have any information let me know,the man needs to be behind bars,permanently."


Normally I wouldnt post an another thread, since it's not real DD, but considering Nuvilex Chairwoman sued Mr. Karney for embezzlement, THEN hired another convicted stock fraud to replace him as CEO...well it's just sort of mind numbingly funny and scary:

Quote:As previously announced, the Company had filed a complaint in the Superior Court of Riverside County, California on November 5, 2004 against Clarence W. Karney, a founder and former officer and director of the Company, and others, alleging breach of fiduciary duty, conversion and fraud. eFoodSafety, Inc. v. Karney,
et al. (Case No. INC 046894). The Company alleged that Karney misappropriated funds from the Company"


Now an interesting PR:

Quote:PRESCOTT, Ariz.--(BUSINESS WIRE)--Sept. 29, 2004
"The Board replaced Mr. Clarence W. Karney as Chairman and CEO with Mr. Taggatz. Mr. Karney will remain with the Company as a Director and a special advisor to Mr. Taggatz. The Board also removed Mr. Richard Speidell as Chief Operating Officer. Ms. Patricia Ross-Gruden resigned as President and was named Chief Operating Officer of Knock-Out Technologies"


Now Karney's Replacement Mark Taggatz:

Quote:February 19, 1993 | From Times Staff and Wire Reports
SEC Seeks to Close Century City Firm: The SEC charged Alliance Global Asset Management and its owners, Jack Nicholes D'Uva and Mark T. Taggatz, with securities laws violations. The complaint also named Nikko & Co. Ltd., another company owned by the same men that is unrelated to the Japanese investment firm with a similar name. The complaint, filed in U.S. District Court in Los Angeles, alleged that D'Uva and Taggatz, through a previous company called Prime Acquisition Group, sold at least $1.3 million in fraudulent limited partnership interests in non-existent mutual funds. Alliance and Nikko are similar operations, the complaint alleged. D'Uva said he was unaware of the complaint.


Quote:123StockAlerts is owned and operated by Global Marketing Media LLC. Global Marketing Media LLC was previously compensated seventeen thousand dollars for a two day marketing and promotional effort on NVLX by Cream Consulting Group, Inc. which has expired. Any compensation received by Global Marketing Media LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company."


From Forbes:

Quote:123StockAlerts is owned by Global Marketing Media, the same company that the Affa brothers allegedly hired to promote the shares of Amogear. According to the SEC, GMM is owned by Christopher Nix, who was named as a defendant in the SEC’s suit against the Affas.


Nuvilex's Director and President of MMJ Spent 4 Years Violating Securities Laws:

Quote:
1. Respondent, Timothy Mark Matula, doing business as Quantum Capital Advisors, has knowingly violated RCW 21.20.040, the investment adviser registration provision of the Securities Act, by operating as an investment adviser in Washington, as defined in RCW 21.20.005(6), while not registered as an
investment adviser with the Securities Division.
2.
The knowing violation of RCW 21.20.040 provides grounds, pursuant
to RCW 21.20.390 and RCW 21.20.395, for the entry of an order to cease and desist and the imposition of fines.
CONSENT ORDER
Based upon the foregoing and finding it in the public interest:
IT IS AGREED AND ORDERED, pursuant to RCW 21.20.390, that respondent, Timothy Mark Matula, shall cease and desist from operating as an investment adviser in Washington in any manner in
violation of RCW 21.20.040.


Nuvilex's Oh Wise CEO who had previously worked as EVP for ChinaTel, now VelaTel, which is basically a pump & dump Chinese Reverse Merger stock now worth $.0003 cents. Here's a nice summary of some timely dumping:

Quote:"CHTL has certainly treated its stock like an endless money supply. For example, regulatory filings show, CHTL issued more than 30 million shares of stock to consultants and contractors – causing its overhead costs to skyrocket -- during the first nine months of 2009 alone. Since then, those filings show, the company has issued millions of additional shares for similar consulting services.

With the stock blowing past $1 near the end of last year, CHTL insiders began to cash in some of their chips. Isidoro Gutierrez, identified in regulatory filings as CHTL’s chief administrative officer and uncle to two of the company’s top executives, sold at the highest prices – fetching up to $1.55 a share – around the time the stock hit its peak.

In early February, however, a mysterious Mexican trust holding 4.8% of CHTL’s stock (just short of the 5% stake required for detailed disclosures) reported the most lucrative sales of all. Between Dec. 17 and Jan. 22, the trust sold more than 2 million shares of CHTL – at prices ranging up to $1.91 a share – and pocketed almost $3 million in proceeds in the process.

Kenneth Waggoner, CHTL’s outside legal counsel, executed some well-timed sales as well. On the same day thatCHTL announced that Excel had reduced its original funding commitment, for example, Waggoner sold 15,000 shares of stock at just under $1 a share. Two days after CHTL learned that Excel would be unable to make its first big payment – and three days before the company actually disclosed that news – Waggoner followed up with an even bigger sale by cashing in 40,000 shares as the stock headed below 70 cents a share."



Quote:San Diego County Superior Court
Lawsuit filed March 10, 2010-Case no. 37-2010-00087536-CU-EN-CTL
VRT Square LP v. China Tel Group, Mario Alvarez, Kenneth Waggoner, Ken Hobbs, et. al.
Complaint alleges causes of action for, among others, Fraudulent Conveyance, Fraud, Conspiracy Unjust Enrichment and Constructive Trust. Allegations state that a legitimate judgment was obtained by VRT Square against Mario Alvarez and his failed company, Greenleaf Home Loans. Complaint further alleges that after obtaining judgment, Mario Alvarez transferred essentially all his assets and all his stock in China Tel Group Inc. to various friends and family members.
This case can be viewed at the San Diego Superior Court website



From Forbes:

Quote:"The story line is that Gerova and dozens of satellite companies are secretly being manipulated as part of a bid to pump up share prices and dump them on unsuspecting investors—many of whom are effectively required to own Gerova because of its inclusion in the Russell 2000 and 3000 value indexes. Supposedly behind this complex fraud: graduates of Westmoore Capital. Westmoore is a $53 million Ponzi scheme that the SEC shut down in June."

Westmoore and Gerova have other connections. The now defunct Westmoore acquired a stake in China Tel Group Inc. (OTCBB: CHTL) on July 29, 2008. That same month Gerova entered into an agreement to acquire China Tel. The Gerova-China Tel deal was unwound three months later. China Tel’s chief executive, George Alvarez, served as a Director of Westmoore Holdings, Inc. until September 25, 2009."



Now Waggoner issuing shares to major China Tel Holder Westmoore Capital:

Quote:SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 0)*

China Tel Group, Inc.
(Name of Issuer)

Series A and Series B Common Stock
(Title of Class of Securities)

Kenneth L. Waggoner, 12526 High Bluff Drive, Suite 155, San Diego, California 92130, [phone]
(Name, Address and Telephone Number of Person‘s Authorized to Receive Notices and Communications)

Consists of (i) 6,750,000 Series B Shares held by Westmoore Investment L.P., of which Mr. Jennings is general partner; (ii) 2,250,000 Series B Shares held by Westmoore Capital Group Series A, LLC, of which Mr. Jennings is Manager; (iii) 2,036,363 Series B Shares held by Westmoore Management, LLC, of which Mr. Jennings is Chief Executive Officer; (iv) 1,900,000 Series B Shares held by Westmoore Capital Group Series B, LLC, of which Mr. Jennings is Manager; (v) 500,000 Series B Shares held by Westmoore Capital Group Series II, LLC, of which Mr. Jennings is Manager; and (vi) 250,000 Series B Shares held by YYZ Hol



Nuvilex Investor Relations Marlin Molinaro:

Quote:"The new medical reviews which appeared in recent issues of the publications Cancers and Molecular Pharmacology Fast Forward, described the approach, design, and methodology as encouraging, both with respect to safety and efficacy in the absence of typical adverse chemotherapeutic side effects. Nuvilex and SG Austria are currently on track to start these trials in 2012.

CONTACT:

Investor Relations Contact:
Marmel Communications, LLC
Marlin Molinaro, 702-434-8692


_

Quote:Orlando, FL.(12/14/11) – Freedom Environmental Services, Inc. announced today that it has retained Marmel Communications, LLC to assist with its public and investor relations outreach programs.

Michael Borish, CEO of Freedom Environmental Services, Inc. stated, "We were impressed with Marmel’s expertise in the small-cap sector, the breadth and depth of their investor relations services"."

Marlin Molinaro, President of Marmel Communications LLC., commented, “It is unusual to find a microcap company that is executing..
*****


Quote:
SECURITIES AND EXCHANGE COMMISSION,
PLAINTIFF, v.
FREEDOM ENVIRONMENTAL SERVICES, INC., a Delaware Corporation,
MICHAEL BORISH,
and MICHAELCIARLONE,
SECOND CAUSE OF ACTION
FRAUD IN THE OFFER AND SALE OF SECURITIES
Violations of Section 17(a)(2) and (3) of the Securities Act [15 U.S.C. 77q(a)(2) and (3)1
(Freedom and Borish)
Case 6:12-cv-01415-JA-DAB Document 1 Filed 09/17/12



Quote:FINRA Report
MARLIN G. MOLINARO
Employing firm when
activities occurred which led
to the complaint:
Allegations:
PRENTICE SECURITIES, INC.
VIOLATIONS OF SECURITIES LAWS; BREACH OF FIDUCIARY DUTIES;
RECKLESSNESS, RULE VIOLATIONS; FALSE ADVERTISING; FRAUD;
BREACH OF CONTRACT

Quote:Date Notice/Process Served:
04/19/2002
Arbitration Pending?
No
Disposition:
Award
Disposition Date:
04/08/2004
Disposition Detail:
MOLINARO IS JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY TO
CLAIMANT THE SUM OF $425,000 IN COMPENSATORY DAMAGES; AND
JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY TO CLAIMANT THE
SUM OF $14,700 IN COMPENSATORY DAMAGES



Nuvilex Announces Favorable Results in 2011? But Wait. They've Admitted No Trials Done. SEC?

Quote:
Nuvilex, Inc. Announces Favorable Phase II Clinical Trial Results for Pancreatic Cancer
Wednesday - June 1, 2011
SCOTTSDALE, AZ -- Nuvilex, Inc. (PINK SHEETS: NVLX) announces the favorable results of a completed Phase II clinical trial carried out in Europe against pancreatic cancer. The treatment technology used in this trial was recently acquired by Nuvilex."

(ohhhh they were talking about that trial from 1999. Got it!)



Quote:SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 0)*

China Tel Group, Inc.
(Name of Issuer)

Series A and Series B Common Stock
(Title of Class of Securities)

Kenneth L. Waggoner, 12526 High Bluff Drive, Suite 155, San Diego, California 92130, [phone]
(Name, Address and Telephone Number of Person‘s Authorized to Receive Notices and Communications)


I, Jason Sugarman , a shareholder of China Tel Group, Inc., a Nevada corporation (“Corporation”), do hereby irrevocably appoint George Alvarez, to be my proxy agent, with full power of substitution, and to vote all of my shares of Series B common stock in the Corporation with respect to all matters submitted to the shareholders at all meetings of the shareholders, or any adjournments thereof, and in all consents to any actions taken without a meeting.



Quote:April 28, 2009|By Joseph Serna

Earlier this month, a Seattle-based firm, Freestone Capital Partners LP and its affiliates, won a judgment against MKA’s Chief Financial Officer Michael Abraham and fund manager Jason Sugarman.

MKA did not pay back the money it owed to Freestone, a judge ruled, and Abraham was ordered to pay back $26.3 million plus interest and Sugarman was ordered to pay back $5.97 million plus interest.

Several people contacted who said they were clients of MKA have reported investing money, and when they failed to see satisfactory, or any return, on their investments, failed to get their money back when they requested it.

The Gateses’ lawsuit alleged the company was operating a make-shift Ponzi scheme to stay afloat, taking on new investors to pay out returns for older ones.

Federal authorities declined to comment on any possible investigation into the company.



Quote:Vienna (PRWEB) September 19, 2004

The Viennese biotech company, Austrianova, has just moved one step closer to a pivotal clinical trial for pancreatic cancer. The Company's novel, cell based orphan medicinal product, NovaCaps® received a positive decision from the European Medicines Evaluation Agency (EMEA) during protocol assistance for the design of the pivotal clinical study, ensuring that data generated by the trial will be suitable for market authorization. Â?We are very pleased with the outcome of the protocol assistance procedure. This represents a major step forward towards our goal of bringing a new therapy for pancreatic cancer to the markets said Brian Salmons, Managing Partner for Science and Technology, Austrianova.

The two armed phase III trial will be a randomised, multi-centre, international, open label clinical study evaluating the survival advantage for patients with inoperable pancreatic carcinoma pre-treated with encapsulated, cytochrome P450/2B1 expressing cells that locally convert ifosfamide into tumour toxic metabolites as compared to gemcitabine (Gemzar®), the current standard therapy.

The trial is scheduled to commence in the second half of 2005 with around 200 patients from a number of European clinical centres being involved. Currently, Austrianova is developing the worldwide first production of this novel advanced cell therapy medicinal product required for these trials and for future marketing activities. In the coming months, Austrianova will select multiple clinical centres throughout Europe for the trial. If the endpoints are achieved, market authorization may be a reality in 2008.




We All Know Nuvilex's Current IR Was Once Convicted of Stock Fraud. What About their Old One?

Hmmm, doesn't look good.

Quote:January 23, 2006 09:45 AM Eastern Standard Time
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Jan. 23, 2006--Patricia Ross-Gruden, President and CEO of eFoodSafety, Inc. (OTCBB:EFSF), announced today that eFoodSafety, Inc. has been selected by The KonLin Letter as the #1 Stock Pick for 2006. The KonLin Letter reiterates its "Strong Buy" recommendation of EFSF stock.

eFoodSafety, Inc.
by
Redwood Consultants, LLC
Jens Dalsgaard, 415-884-0348
****
(Now for some fun court documentation from around that time:)

On April 13, 2009, in northern California District Court, Location Based Technologies (LBAS.OB), filed suit against Jens Dalsgaard, Redwood Investment LLC, and others, under civil RICO laws. Under the Racketeer Influenced Criminal Organization act, individuals who are members of an enterprise that has committed any two of 35 crimes—27 federal crimes and 8 state crimes—within a 10-year period can be charged with racketeering. RICO also permits a private individual harmed by the actions of such an enterprise to file a civil suit; regardless of whether there is a criminal prosecution, and if successful, the individual can collect treble damages.

A similar suit, alleging fraud and breach of contract, was brought against Dalsgaard in September, 2008 by Sustainable Power Corporation. Again the dispute centered on transfer of unregistered shares to affiliated parties; the case was settled out of court April 24, 2009



Buddy of Director Tim Matula, from the Diamond Ranch Food Days...before that became the pump n dump Plandai.

Quote:"Updated June 17, 2014 at 12:38 pm

A Ridgefield man was sentenced Tuesday to a year in prison and three years of supervised released after being found guilty of evading payment of nearly $200,000 in federal taxes over a five-year period.

Louis Vucci, Jr., 45, pleaded ‘guilty’ in October to one count of tax evasion for failing to report more than $678,000 in income he received between 2005 and 2009 while president and CEO of Diamond Ranch Foods. According to court documents, Vucci underreported his income by between $95,000 and $187,000 for each of the five years.

The unreported money was made out in weekly $2,500 paychecks from Diamond Ranch Foods to Vucci’s spouse and deposited in her bank account. (Vucci’s wife did not work for Diamond Ranch Foods at the time.)

Also, in 2008 and 2009, Vucci had a customer pay him for purchases with blank checks, which he then completed and deposited into his personal bank account. Those checks totaled $26,236 in 2008 and $65,387 in 2009."

Diamond Ranch Food, Inc. filed as a Domestic Corporation in the State of Nevada and is no longer active. This corporate entity was filed approximately four years ago on Tuesday, July 13, 2010 as recorded in documents filed with Nevada Secretary of State.
Key People

Louis Vucci served as the Director Louis's past corporate affiliations include Diamond Ranch, Ltd .

Philip Serlin was the Director of Diamond Ranch Food, Inc.. Philip's past corporate affiliations include Executive Seafood, Inc.

The Secretary of Diamond Ranch Food, Inc. was Tim Matula. Tim's past corporate affiliations include Executive Seafood, Inc.



Quote:LOS ANGELES--(BUSINESS WIRE)--Dec. 18, 2003--A class action lawsuit was filed in U.S. District Court for the District of Washington on behalf of purchasers (the "Class") of Topaz Group, Inc. ("Topaz" or the "Company") between March 21, 2002 and August 20, 2003, inclusive (the "Class Period").

Defendant Topaz is a vertically integrated manufacturer and seller of fine jewelry and gemstones. Topaz is traded on the American Stock Exchange under the ticker symbol TPZ (AMEX:TPZ).

Defendants include Topaz, Aphichart Fufuangvanich, George Pfeifer, Peter Brongers and Timothy Matula (the "Defendants"). The Complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5).

The Complaint alleges that Defendants issued a series of false and misleading financial statements which did not comply with generally accepted accounting principles. Specifically, Defendants incorrectly reported Topaz' financial position by, inter alia: overstating inventory, understating allowances for doubtful accounts and improperly recognizing revenue. As a result of defendants' conduct, plaintiff and Class members purchased Topaz shares at artificially inflated prices and were damaged thereby.



Quote:Mr. Timothy Matula is Head-Investor Relations at Plandai Biotechnology, Inc., a Director at Eat at Joe's Ltd., and President, Chief Executive Officer & Director at #$%$ Sciences, Inc. He is on the Board of Directors at Nuvilex, Inc., Eat at Joe's Ltd., and #$%$ Sciences, Inc.

"The common thread is Plandai Biotechnology, a tiny public company that says it is based in Seattle. Although Plandai has almost no revenue, its stock has ballooned tenfold since March, thanks to a publicity campaign declaring it will “transform how many diseases and conditions are treated” with its extracts from green tea leaves and fruits.

“Plandai is taking on the malaria parasite and winning,” says one PR piece. Others claim its preparations hold promise for everything from skin ailments to bad cholesterol to prostate cancer because of a proprietary technique that increases the “bioavailability” of green-tea compounds called catechins.

A London researcher hired by Plandai calls its malaria claims “misleading,” however. He says a good anti-malarial compound “would be a thousandfold more potent” than the Plandai material he tested, adding, “It is unlikely that green-tea extract from any source will have important anti-malarial activity.”

There are other red flags, as well.

The “corporate headquarters” Plandai lists in Seattle is really a rented mailbox in an out-of-the-way business center. Its chairman and CEO, Roger Duffield, used the same address a dozen years ago when resigning as the head of another penny-stock company.

Plandai also has some unusual business arrangements for a public company. According to SEC filings, it spent almost half of a $13?million South African government loan, its primary funding source, to buy unspecified equipment from a separate private firm run by Duffield."

Then there’s the guy with the SEC problem. Shane Traveller, the company’s



Quote:Nuvilex Now Has Access to $50 Million With New Banking Agreement

NEW YORK, NY--(Marketwired - Jun 2, 2014) - Nuvilex (OTCQB: NVLX) has become quite a busy biotechnology firm of late, and with the announcement of what is now a "two-pronged attack" on pancreatic cancer, the company will most certainly need more money to pull off its plans. Well, last week Nuvilex gained access to just that, a whole lot more money.

In an original funding agreement that was not favorable at all to the company's shareholders, Nuvilex had access to $27 million, but with a new at-the-market banking agreement with Chardan Capital, the company now has access up to $50,000,000 which is $23 million more than it had access to just one week ago.

This new at-the-market banking agreement with Chardan will give the Maryland biotech access up to $50,000,000, the opportunity to get out of a "not-so-friendly" deal with another firm, and it will help the company to preserve shareholder value by allowing it to control the deal.



Quote:
Nuvilex Announces $27 Million Funding Commitment With Institutional Investor to Advance Late Phase Clinical Trials

SILVER SPRING, Md., Feb. 20, 2014 (GLOBE NEWSWIRE) -- Nuvilex, Inc. (NVLX), an international biotechnology company providing cell and gene therapy solutions for the treatment of deadly diseases, announced today that it has entered into a stock purchase agreement with Lincoln Park Capital Fund, LLC (Lincoln Park), a Chicago-based institutional investor. Lincoln Park initially purchased 8 million shares of Nuvilex's common stock at $0.25 per share for $2 million and has committed to invest, at the sole option of Nuvilex, up to an additional $25 million of equity capital over the term of the purchase agreement. The proceeds from this investment will be used for Nuvilex's late-stage clinical trials in advanced inoperable pancreatic cancer, for research into the use of constituents of marijuana in the emerging medical marijuana arena and for general operating purposes.

Kenneth L. Waggoner, the CEO and President of Nuvilex, commented, "Our stock purchase agreement with Lincoln Park gives Nuvilex the flexibility to access capital over time at prevailing market prices and as our needs arise. The initial funding helps us to proceed with our planned late-stage pancreatic cancer clinical trials. The $2 million initial investment also reflects the commitment to Nuvilex and our live-cell encapsulation platform for developing treatments for cancer and diabetes."



SEC 10K

Quote:Cash at end of period $3,616,470



Quote:Expenses:
Sales and marketing 872,200
Compensation expense 13,609,995
Director fees 768,000 –
Legal & professional fees 1,487,668
General and administrative 2,241,279
Total operating expenses
18,979,142



Quote: The Company has a History of Losses from Operations which May Continue and which May Harm Our Ability to Obtain Financing and Continue Our Operations.

Our operations are subject to the risks and competition inherent in a company that moved from the development stage to an operating company. We may not generate sufficient revenues from operations to achieve or sustain profitability on a quarterly, annual or any other basis in the future. Our revenues and profits, if any, will depend upon various factors, including whether our existing products and services or any new products and services we develop will achieve any level of market acceptance. If we continue to incur losses, our accumulated deficit will continue to increase which might significantly impair our ability to obtain additional financing. As a result, our business, results of operations and financial condition would be significantly harmed, and we may be required to reduce or terminate our operations.


The Company is an Early Stage Company with the Generation of No Revenues.

The Company is an early stage, pre-revenue company. An investor cannot readily determine if the Company will become profitable. The Company is likely to continue to experience financial difficulties during this early revenue stage and beyond. The Company may be unable to operate profitably, even if it generates revenues. The Company may not obtain the necessary working capital to continue developing and marketing its products. Furthermore, the present products may not receive sufficient interest to generate revenues or achieve profitability.


The Company Needs Additional Capital to Continue its Business Plans.

The Company will need additional capital to continue its operations. There can be no assurance that the Company will generate revenues or obtain sufficient capital on acceptable terms, if at all. Failure to obtain such capital or generate such operating revenues would have an adverse impact on the Company's financial position, operations and ability to continue as a going concern. The Company's operating and capital requirements during the next fiscal year and thereafter will vary based on a number of factors, including the level of sales and marketing activities for its products. There can be no assurance that additional private or public financing, including debt or equity financing, will be available as needed or if available, on terms favorable to the Company. Additionally, any future equity financing may be dilutive to stockholders’ present ownership levels and such additional equity securities may have rights, preferences, or privileges that are senior to those of the Company's existing common stock.



Caveat Emptor.