SBFM has some proprietary pharmaceuticals that have zero value because they aren't marketable. The FDA is probably tired of hearing from the Doctor of Philosophy, Steve Slilaty who is not a medical doctor.
They've been pedaling this stuff for over a decade and bilked investors out of $100s of millions and yet they never advanced past injecting some rats.
Now they can't even do that. No more R&D money, they've finally run the well dry and NASDAQ is readying their boot for next month. Can't even get a loan. AEGIS is desperate and saying they are worth $2.60 a share with like a 40M O/S. It was 18M before they ran out of cash and have been dumping shares for the last several months to survive. They went as far as a $2M share buy back which took them 8 months to buy $36K worth which finally occured in the last 30 days. Now we know where those buys came from and why SBFM had to double their O/S. Crazy.
The SEC won't let the directors dump shares. Their S4s were denied repeatedly by them for AEGIS and Slilaty to the point the SEC told them not to send anymore, we won't even look at them.
Slilaty bought adva-27a for $60K after a French pharmaceutical abandoned it because it was a failure. He then had it valued at $1 billion dollars by MNP LLC of Canada, who basically said "Yeah, if this thing cures cancer, gets FDA approval and goes to market, sure. It's worth at least a bil." The great thing is these CPAs don't have to actually "audit" SBFM, it was a big scam. He then tweaked it slightly and said it cured Ebola, Covid-19 through Covid-30, and more using fluff PRs a loan sharks.
Steve pumped that to death until he got listed on NASDAQ and landed yet another epic failure for SBFM.
Nora is somehow producing generics which is great, but do a little digging on them. Their revenue was about $350K until SBFM overpaid and bought them for like $26M with a $5m payout to their CEO Malek.
Anyway. At least Nora acts like a real company. But have no idea if they are even able to produce their own generics. SBFM sells their own brand of generic vitamins that they buy from someone else, and were able to sell a few with their own branding on Amazon.
Sorry for the novel. This company is a scam. Nora has a chance imo. But it'll probably take years.
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