BioCurex, Inc.(fka BOCX)

[Gold Seeker]

mcd2dinga stated: "The Inverness milestone payment is due or must be notified of intent in the November/December time frame. This could still happen before the new shares are placed. If this works out in BOCX's favor, BOCX could raise the funds needed at a higher share price and not place all of the authorized shares."


If Inverness does not return RECAF by November 4th, they would be obligated to pay the minimum royalty. That would certainly relieve some doubts that Inverness was going to return the product. One note of caution. Abbott had passed the date to pay the 2008 minimum royalty but that was forgiven in the amended agreement and never paid.

The number of shares used to raise $6.6 million does indeed depend upon the discount to the current market price at the time of the public offering. The higher the price, of course the less dilution. What should concern you is the shorting of the stock back down to the 14 cent area of Smithlines note conversion price. If that continues, the discount to market could incur substantial dilution.