I’ve been following BioCorRx for awhile. I’m a new member to investorhub. I finally decided to create an account and post, so I’m no longer a “ghost follower” as the saying goes.
I noted in my due diligence, rather in-depth research of the company a few concerning things.
CEO Granier did not file a 8-K regarding the Letter of Intent (LOI) with VDM Biochemicals, which I read about the LOI via GlobalNewsWire. I’m not 100% certain, but I’m almost certain that that should have been filed with the SEC via a 8-K within (4) business days of October 1st. I noted that a “standard” press release was issued on October 9th, but that the “LOI” was October 1st.
I note through my research into SEC filings and from their previous filings they spend many thousand of dollars in SEC fees and also in attorney fees per each filing.
I also noted that an alarming amount of their prior years 10-Q and 10-K were filed late.
In 2002 Congress passed the Sarbanes-Oxley Act which protects investors within Publicly Traded Companies. It was an Act created by Congress after the dot com boom era, which caused investors in dot com startups and publicly traded companies trillions of dollars in losses.
I’m erring on the side of caution investing in this company considering they have shown in the past they don’t file SEC filings on a scheduled and orderly basis. Perhaps it’s due to “busy schedules” or executives “lack of knowledge” or perhaps lack of funding to pay SEC filing fees and attorney fees.
I suggest investors be cautious about any company that has issues filing SEC filings or that are “delinquent”.
I suggest investors also brush up on their knowledge concerning FINRA and the Securities Exchange Commision rules and regulations.
I hold no position in this stock. It came across my radar and I find it interesting, but the Bear thesis on this is stronger than the Bull thesis. The bull thesis is simply “opioid addiction is a major problem, we need a solution!” Bear thesis is “Company lacks financial funding, no update on possible Grants, SEC filing issues and or delinquent filings”.
My agenda isn’t to cause panic or fear into buying or selling of shares, it’s to promote awareness to companies that don’t ahear to rules and regulations. I will research this further and make an attempt to contact either by email or by phone the CFO about their SEC filings. I will update on the progression of my research into this company.
If anyone has any questions and would like to privately message me they can. Also I’ll check the website daily for any comments/concerns/responses.
-StockGurus1
