On the 5th I posted "Norchi will be presenting at the Roth conference 3/12. Here is likely what he will say, as this was reported last night by a Stock Gumshoe member who claimed that he spoke with Norchi by phone and was told Arch plans to “refile” by June, 2018 and that they need to raise $$." I feel I should follow up on this by letting you know that shortly after he made that post there was enough turmoil in response to it, that he quit Stock Gumshoe. Therefore take what I reported as possibly his attempt to pump the stock so he could exit and not as a reliable report. Previously I posted here to warn that Arch was having difficulty getting their clearance, based on my discussions with key staff at the FDA and was met with a very cool reception.The stock was at about .70 at that point. When Norchi pulled the application, the stock dropped to .25 but recovered when Dr. KSS at Stock Gumshoe published his conversation with Norchi stating that it was an FDA timeline issue and that they had been given only one day to answer a question, and that N. needed more time. Actually, the true story according to Dr. Whitmore, who I spoke to about this, is that the FDA was telling Arch on that day that Arch had not fully addressed the FDA's concerns under discussion and gave them one more day to do so. There was not a new question asked at the last minute. It was either get a denial or pull the application. Now three months later, I realize that Arch may be on thin ice, both because of the need to raise capital and also because we do not know how MIT patent department is reacting to a possibly missed deadline, in their contract with Arch. Yes, I have also spoken with them. Multiple complex issues face the company at the moment. For one thing, remember that Norchi shifted the expectation from a hemostat to a wound dressing in the new application, but that being the case, this long delay is surprising, especially if he is pushing out to "likely by June." Unless you plan to swing trade the stock I would suggest staying away until there is positive news. Personally I would not retake a position with a fantasy of "maybe I'd miss something if I don't". The chart has been in a downtrend for sometime, so the best you could hope for is an oversold bounce. I think the .25 cent level it fell to when Norchi pulled the application is where we are headed and if that does not hold, lower. My personal opinion. Do your own DD.
