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UPDATED PHAR Q&A...A MUST READ, should help answer a lot of questions!!



Bucks4Buckeyes  

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Saturday, January 14, 2012 7:19:29 PM
Re: None

Post # of 21979 
NEW Q&A FOR PHAR

The Following Statements have been made and answered so far. We will be more than happy to continue to help all readers on this board.

INCORRECT STATEMENTS REGARDING PHAR ANSWERED:


STATEMENT REGARDING CLINICAL STUDIES
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70211755
Quote:
EarnestDD
Thursday, December 22, 2011 3:56:14 PM
Re: oh not again post# 19923 Post #19928 of 21913

WRONG ... Clinical studies are still required to get FDA approval to sell any product.

ANSWER:

http://fdadrugcompliance.com/resources/otc/
Quote:
Over-the-counter (OTC) Monograph process
Over-the-counter drugs are defined as drugs that are safe and effective for use by the general public without a prescription. There are more than 80 classes (therapeutic categories) of OTC drugs, ranging from acne drug products to weight control drug products. As with prescription drugs, CDER oversees OTC drugs to ensure that they are properly labeled and that their benefits outweigh their risks.
FDA has been evaluating the ingredients and labeling of these products as part of "The OTC Drug Review Program." The goal of this program is to establish OTC drug monographs for each class of products.
OTC drug monographs are a kind of "recipe book" covering acceptable ingredients, doses, formulations, and labeling. Monographs will continually be updated adding additional ingredients and labeling as needed. Products conforming to a monograph may be marketed without further FDA clearance, while those that do not, must undergo separate review and approval through the "New Drug Approval System."
FDA's review of OTC drugs is primarily handled by CDER's Office of Nonprescription Drug Products. However, scientists and regulators throughout CDER, the Office of General Counsel, and other Centers within FDA are routinely asked to assist in this massive effort. There is also an advisory committee, "The Nonprescription Drug Advisory Committee," which meets regularly to assist the agency in evaluating issues surrounding these products.
Additional information regarding the OTC Monograph Review process can be found at the following URL:
• www.fda.gov/Drugs/DevelopmentApprovalProcess/SmallBusinessAssistance/ucm052786.htm

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758
Quote:
H. The need for any government approval of principal products or services and the status of any requested government approvals.
The FDA has approved AQUAPRIN™ for commercialization scale production.


STATEMENT REGARDING HOWARD PHYKITT & REVERSE SPLIT
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70215219
Quote:
EarnestDD
Thursday, December 22, 2011 5:59:27 PM
Re: Snizzle post# 19937 Post #19940 of 21913

Reverse Split last year ... 2,500:1.

What a great CEO!! NOT!!

ANSWER:



http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=46305
Quote:
Pharmstar Pharmaceuticals, Inc., a Delaware corporation, (formerly known as Big Star Media Group, Inc.) (Pink Sheets: BMGI) (the “Company”) executed a stock purchase agreement to acquire 93.5% of Pharmstar Pharmaceuticals, Inc., a private Nevada corporation, on March 11, 2011.

The Company has amended its corporate charter to effect the name change from Big Star Media Group, Inc. to Pharmstar Pharmaceuticals, Inc., and is in the process of effecting the name change with FINRA. The Company expects to have a new ticker symbol assigned by FINRA within 2 to 4 weeks.

All former officers and directors have been replaced; Mr. Howard Phykitt is now Chairman of the Board of Directors and is the Company’s Chief Executive Officer.


STATEMENT REGARDING PPS PREDICTION
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70371675
Quote:
EarnestDD
Thursday, December 29, 2011 4:00:03 PM
Re: None Post #20466 of 21913

Triple Zero's on PHAR next week??

Seems so.

ANSWER:

PHAR did not trade below .002




STATEMENT REGARDING INSOLVENCY
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70371745
Quote:
EarnestDD
Thursday, December 29, 2011 4:01:14 PM
Re: Common Cents post# 20454 Post # of 21913

How about INSOLVENT and NO Funding???

ANSWER:

http://www.investopedia.com/terms/i/insolvency.asp#axzz1jSz87o00
Quote:
Definition of 'Insolvency'
When an individual or organization can no longer meet its financial obligations with its lender or lenders as debts become due. Insolvency can lead to insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts.

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758




STATEMENT REGARDING EMPLOYEES
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70575393
Quote:
EarnestDD
Thursday, January 05, 2012 7:39:03 PM
Re: crowbar24382 post# 20864 Post #20915 of 21914

What Three employees? Howard, a part time secretary and who else?

ANSWER:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758
Quote:
8. The number of total employees and number of full-time employees.
The Company currently has four full-time employees.


STATEMENTS REGARDING SHARE REDUCTION
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70620805
Quote:
EarnestDD
Friday, January 06, 2012 9:59:27 PM
Re: LeGoose post# 21062 Post #21066 of 21915

NOPE ... NO 10K yet.
Three months to file an amendment regarding a reduction in shares is Ridiculous.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70743122
Quote:
EarnestDD
Tuesday, January 10, 2012 10:39:02 PM
Re: Snizzle post# 21335 Post #21338 of 21934

Sure sure ... Howard just "Lost" the Filing Papers for the Authorized Amendment??

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70743044
Quote:
EarnestDD
Tuesday, January 10, 2012 10:35:20 PM
Re: Snizzle post# 21332 Post #21334 of 21934

Unless there is NO Amendment to decrease the PHAR Authorized because the Authorized is NOT going to be decreased.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70685397
Quote:
EarnestDD
Monday, January 09, 2012 3:49:01 PM
Re: Snizzle post# 21144 Post #21250 of 21934

I am building a summary of PHAR's False and Misleading Reporting for and SEC complaint.
- Bogus Accounting Assets
- Falsely reporting the Float
- Share reduction?

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70601670
Quote:
EarnestDD
Friday, January 06, 2012 12:45:10 PM
Re: LeGoose post# 20983 Post #20985 of 21936

It was the Outstanding that WAS to be reduced. No proof of that yet however.
Sometimes the Authorized is reduced as well, but I believe PHAR indicated only a reduction in the Outstanding.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70596919
Quote:
EarnestDD
Friday, January 06, 2012 11:27:26 AM
Re: Farmboynate post# 20942 Post #20936 of 21936

The announced buyback that doesn’t appear to have happened would be just one item that the SEC may be interested in.

ANSWER:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70770
Quote:
FOURTH.
(a) Authorized Capital. The total number of shares of all classes of stock which the Corporation shall have authority to issue 660,000,000 of which 650,000,000 shares, par value of $0.025 shall be designated as Common Stock (“Common Stock”) and 10,000,000 shares, par value of $0.00001 shall be designated as Preferred Stock (“Preferred Stock”).



STATEMENTS ON DELAY OF FILING ANNUAL REPORT
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70596840
Quote:
EarnestDD
Friday, January 06, 2012 11:26:04 AM
Re: Snizzle post# 20938 Post #20955 of 21934

WRONG…Howard signed and filed that Notification of Late Filing.
No one else to blame but PHAR.
OTC is only the service it was filed on.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70597314
Quote:
EarnestDD
Friday, January 06, 2012 11:33:49 AM
Re: Snizzle post# 20958 Post #20959 of 21934

WRONG AGAIN…Howard Signed and Filed the Notice of Late Filing.
HOWARD’S ERROR … NO one elses.
lol

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70603058
Quote:
Earnest DD
Friday, January 06, 2012 1:11:18 PM
Re: Snizzle post# 21001 Post #21003 of 21934

Interesting how the OTC website keeps changing on PHAR’s status, flipping between Current and No Information.
hmm

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70743120
Quote:
EarnestDD
Tuesday, January 10, 2012 10:39:00 PM
Re: Snizzle post# 21335 Post #21336 of 21934

Lots of Delays on PHAR .. NOTHING being accomplished.
Financials NOT filed by 1/6/12 as indicated on Howards NT filing either.

ANSWER:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758
PHAR Annual Report Filed on January 13, 2012 – within the 15 days allowed by OTC Markets for the late filing of an Annual Report.


STATEMENT ON OWNERSHIP OF BUILDING
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70783764
Quote:
EarnestDD
Wednesday, January 11, 2012 6:13:54 PM
Re: None Post #21461 of 21931

PHAR does not have ownership of their building.
What is taking Howard so long??
Seems that financing is NOT getting done.

ANSWER:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758
Quote:
Item X The nature and extent of the issuer’s facilities.
14
Pharmstar owns a research laboratory and small-scale production facility in Wilson NC.
The company plans to begin a scaled up production facility for retail distribution in the
near future.


Quote:
NOTE 5 — COMMITMENTS AND CONTINGENCIES
Beginning April 2011 the Company entered into a six-month renewable lease-purchase agreement with S.T. Wooten Corporation for approximately 3.33 acre lot of real property in Wilson County, North Carolina located at 3914 Airport Blvd Wilson, NC 27893 for $6,500 monthly rent.
Notwithstanding, the monthly rent does not include payments toward utilities, real property taxes, alterations and improvements, maintenance and repairs, and the minimum $1,000,000 amount of liability insurance coverage requirement.




CORRECT STATEMENTS REGARDING PHAR CONFIRMED:


STATEMENT REGARDING PHAR BEING A START-UP
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70628424
Quote:
EarnestDD
Saturday, January 07, 2012 1:21:25 PM
Re: dnizzle6 post# 21087 Post #21092 of 21915

PHAR is not a startup in the classic sense ... it is a continuation.
First patents were filed over 10 years ago.

To call PHAR a startup is disingenuous

CONFIRMATION:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758
Quote:
The Company’s newly acquired pharmaceutical business is not a “start-up” operation. The
Company’s new management, since 1992, have performed, and continue performing all the
costly research, development and packaging engineering, product stability, shelf-life testing
and quality-control for AQUAPRIN.



STATEMENT REGARDING CFO NEEDING TO BE REMOVED
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70635807
Quote:
EarnestDD
Saturday, January 07, 2012 8:58:01 PM
Re: Common Cents post# 21147 Post #21153 of 21915

That is pretty blatantly incesstuous ... Waldman is a cancer to PHAR that should be removed.

CONFIRMATION:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70894878
Quote:
EarnestDD
Saturday, January 14, 2012 2:37:32 PM
Re: Ryoko post# 21910 Post #21911 of 21915

Waldman is no longer listed as the CFO and his name has been completely excluded from the 10K filing.



STATEMENT THAT FINANCIALS ARE UNAUDITED
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70890379
Quote:
EarnestDD
Saturday, January 14, 2012 10:51:20 AM
Re: surfguy post# 21888 Post #21889 of 21915

These annual financials are UNAUDITED.
No Opinion on them from any accounting firm.
Labrozzi NEVER opined on them.

so yeah ... not buying it until Howard delivers.

CONFIRMATION:

http://www.otcmarkets.com/otc-101/otc-market-tiers
Quote:
OTC Pink™ Current Information
Companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Markets Group Guidelines for Providing Adequate Current Information (pdf) are designated as OTC Pink Current Information. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk. This category includes shell or development stage companies with little or no operations as well as companies without audited financials and as such should be considered extremely speculative by investors.

http://www.otcmarkets.com/content/doc/DisclosureGuidelines.pdf
Quote:
Quarterly Reporting Obligations
In order to be considered as having adequate current information publicly available, issuers must publish Quarterly Updates to their disclosure statements through the OTC Disclosure and News Service, no later than 45 days after the end of each fiscal quarter. Quarterly Updates should contain responses to the following items, and should follow the format below.



STATEMENT ON SHARE REDUCTION
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70733818
Quote:
EarnestDD
Tuesday, January 10, 2012 4:18:26 PM
Re: Snizzle post# 21314 Post #21316 of 21934

PHAR said the Rollback was DONE ...
Quote:
________________________________________
PharmStar Outstanding Common Stock Reduced by 50%
October 12, 2012

PharmStar Pharmaceuticals, Inc., (PINKSHEETS: PHAR) (the "Company") today announced that its management and Board of Directors have directed a "rollback" of certain large blocks of shares of PharmStar Pharmaceuticals common stock held by management. This "rollback" was effective as of today.

CONFIRMATION:

http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70770
Quote:
FOURTH.
(a) Authorized Capital. The total number of shares of all classes of stock which the Corporation shall have authority to issue 660,000,000 of which 650,000,000 shares, par value of $0.025 shall be designated as Common Stock (“Common Stock”) and 10,000,000 shares, par value of $0.00001 shall be designated as Preferred Stock (“Preferred Stock”).

IN WITNESS WHEREOF, I have signed the Amended and Restated Certificate ofIncorporation this 14th day of October, 2011.
_____________________________
Howard Phykitt
Chief Executive Officer