While I'm very bullish on ABPR some of the DD posted here is misleading and is based on their last filing on 6/30/2011 which indeed states correctly that the o/s was 230.1 MM and float was 35.6 MM shares. When they finally get their filings complete (which I expect will be as early as next week) the true numbers will come out. The float maybe as much as 10X as to what is being reported here.
Back in early 2010 I met Jerry at the synagogue I attend. We said the Mourner's Kaddish together (a Hebrew prayer praising G-d and said for eleven months following the death of a loved one. Jerry's father and my wife had recently passed. We became friends and when I learned that he was the CEO on a penny stock, I made an investment. All the while Jerry was telling me that great news was coming (it never came) he was diluting the piss out of the stock using convertible toxic dilution. I called the transfer agent on 11/11/2011 and found out that the o/s had increased to 467.6 MM shares (see post 7250). Jerry also told me, on more then one occasion, that he was planning a reverse. At the time, I was down about $15K.
Many of the investors in ABPR were friends and family talked him out of a reverse. So what has changed? A good friend of mine, and major investor in ABPR, has remained a friend with Jerry. He tells me that Jerry truly regrets the harm he did to the shareholders and with the help of some very experienced business professionals, plans on doing whatever he can to increase shareholder value. That means no more dilution and no reverse split.
Last summer and fall I decided to take a chance and average down with my ABPR position and this past Friday my position finally went positive for the first time ever. What I'm hearing, there will be several announcements over the next several months involving M&A activity that will increase shareholder value. I believe a sp of $0.04 - $0.08 is possible.
JERRY, All IS FORGIVEN, GO ABPR!!!
