Algernon Pharmaceuticals Inc (AGNPF)

[Money $hot]

markna -

As I mentioned earlier, they press released $1M minimum raise needed as part of Nash acquisition, yet only could only do $500k and that was last summer so obviously having troubles raising the $

Please provide the link regarding a $1M capital raise.

Perhaps the "capital raise" was really a private placement only meant for an audience of one Kal Malhi? MD&A April 2019:

Financing

On October 23, 2018, the Company closed a private placement whereby it issued 2,083,334 units at a purchase price of $0.24 per unit for gross proceeds of $500,000. Each unit consists of one common share and one share purchase warrant entitling the holder to acquire one common share at a price of $0.50 for a period of two years from the closing of the private placement. In addition, 5,266 share purchase warrants were issued as Finders’ warrants. Each Finders’ warrant entitles the holder to purchase one share at a price of $0.50 per share until October 23, 2020.

Beyond a "capital raise" and/or private placement, the October 2018 "acquisition" of Nash Pharmaceuticals did happen - that's a fact! Merely 4 months since the acquisition "...Algernon could begin planning an additional phase II study for its fourth major global disease”, said Christopher J. Moreau, CEO of Algernon Pharmaceuticals.

>`>`>` Given the breakneck pace on display @ Algernon Pharmaceuticals in black and white, thus far money is not holding up progress >`>`>`


Breathtec Provides Nash Pharmaceuticals’ Plans for Next Year

VANCOUVER, British Columbia, Sept. 13, 2018

Excerpt:

Nash Business Model Overview

Nash Pharma’s business model is based on a drug repurposing strategy where previously approved drug candidates are identified and rapidly screened for use in new diseases. If the data generated from pre-clinical in vivo animal testing shows positive results, the drugs can be moved forward into Phase II clinical studies.

As a comparison, taking a new compound from the discovery stage though pre-clinical research and into human trials, can cost from $30M to >$50M per drug. Nash Pharma estimates that its costs will be closer to $2M per drug on average, to identify drug candidates, screen them and complete Phase IIA trials. This is a dramatic cost and risk reduction in comparison to the standard drug development pathway and can add as many as 8 years to the patent life of the drug.

Up to 50% of drugs, depending on the disease type, achieve positive data results in Phase II trials.

Shareholder Press Release

Excerpt:

VANCOUVER, British Columbia, Jan. 10, 2019 (GLOBE NEWSWIRE) -- Breathtec Biomedical Inc. (CSE: BTH) advises that Kulwant Malhi (the “Acquiror”), through a series of securities acquisition transactions in the share capital of Breathtec BioMedical Inc. (the “Issuer”), and immediately after these securities transactions, owns or controls directly and indirectly, an aggregate of 6,851,171 common shares (the “Shares”) of the Issuer, representing approximately 23.886% of the Issuer’s issued and outstanding Shares. The Acquiror acquired the Shares on the public market through the facilities of the Canadian Securities Exchange, by way of an offering by the Issuer and/or by way of a share exchange agreement (the share exchange as more particularly described in the Issuer’s October 22, 2018, October 9, 2018 and August 2, 2018 news releases). The Acquiror holds a total of 331,501 Shares directly, a total of 5,647,170 Shares held indirectly through BullRun Capital Inc., a private company over which the Acquiror has control and direction, and a total of 872,500 Shares held indirectly through Cannabix Breathalyzer Inc., a private company over which the Acquiror has control and direction.

The Acquiror also holds a total of 6,407,170 warrants (5,647,170 warrants held indirectly through BullRun Capital Inc. and 760,000 warrants held indirectly through Cannabix Breathalyzer Inc.), representing approximately 22.338% of the Issuer’s issued and outstanding Shares.

So here's my take moving forward >`>`>` What potentially stands in our way of a minimum of two Phase IIa clinical trials is an estimate of $4M. I will take the words as written in the plan as more accurate than anyone who posts on this message board. Also, I will concede that shell3 was correct in stating Kal Malhi basically owns/controls nearly 50% of Algernon. Half of which was "acquired" on the "public market." Kal bought back what he dumped/set ablaze/abandoned. So ask yourself this, why go through all that to only be stuck at the starting line for clinical trials? Kal has the cash himself to buy up the remaining shares. Will it come to that...who knows? What I do know is we still have the FAIMS device sitting somewhere waiting to do something. Maybe they will pawn it off like I've stated umpteen times. We still have plenty of time left in 2019 for the stock to catch fire and/or raise capital. It's my belief you continue worrying about a non issue at this point. Algernon simply has too many irons in the fire (lead compound results) to halt progress. My one faith in all of this now rests with Dr. Mark Williams and his 5 or more years of repurposed drugs research coming to fruition. True Longs (pre-reverse split) only have this first launch/one shot into clinical trials to come away with a win. Another reverse split will wipe out the longs. So it's tunnel vision for most of us. One step at a time. Let's get to launch for whatever 2 clinical trials their going to roll out and hope we get a hit on at least one. That's the best we can do here. You're either in or out. Make a decision and go with it.

Last reported $1M CAD and 29M shares left to make something happen!

GL2ALL

/////AMG