"If i'm not mistaken, We will probably see another PR sometime tonight or early next week (MON,TUES). 8k's are usually followed up by significant news. IMO"
And how do you figure that? This is like the 10th 8K in the last several months and they did not release any new with any of them.
You people need to get a grip. What this 8K is about is the 5.2 BILLION shares they now have outstanding. It is a required warning to shareholders that significant things happened in the past few days that lead to many more shares being added to the outstanding. It is a warning you should heed.
I started following this company a few weeks ago after posters on another message board threw it out as a possible company to buy for another bio-tech company I own stock in. They are sitting on about $150MM and are looking for something to do with the money. We started looking at this as a possibility. I bought about 700K shares just in case. I have since sold my shares for a small profit. Reason? There is little value here. There are just too many shares outstanding right now, and your market cap is so low that anyone with $50MM to burn could buy you out easily. It is those stupid convertible shares that these bio-tech companies love so much that destroy most companies that fall for the trap.
Sorry to say it, but the old shareholders are losers here. The new money now owns just about 92% of the company. They will determine what happens. The old shareholders are just along for a ride without much say in where the ride is going.
Good luck. I'll check back after the R/S to see where the price falls out. If they do 1:100, as I suspect they will, then there will be 52MM outstanding at a price around $1. Post split it will drop 25-50%. If they have positive data, and a deal, that will be the time to buy.
Again, good luck.
AI
