Replies to post #21434 on BioCurex, Inc.(fka BOCX)

[Kag]

The bocx, you posted: “While there is the issue of dilution, the ability of getting out of the hole (and being in the 50% that did not perish as a consequence of the crisis) might offset it and we might see the price going up...”

My comment: Who created the “hole” that BioCurex is in? Who is responsible for the unpaid Smithline loan with a lien on all of BioCurex’s assets? kag

[Kag]

The bocx posted: “If the company is in fact raising money and that is why the proxy is required, then voting against it would make the financing impossible, which would result in (a) Smithline taking over and (b) the company being disbanded.”

My comment: The SEC form PRE 14A filed last Friday states that BioCurex still has over 37 million remaining authorized shares that have not been issued or reserved for any other purpose. By any measure, that is a huge number of shares that are immediately available for meeting the needs mentioned in the filing. Yet, according to the filing, BioCurex management believes an additional 175 million authorized shares are now necessary. What is going on here? Is this a last-ditch attempt to save BioCurex? kag

[Kag]

The bocx, it is noted that you have used the word "crisis" to describe the situation that BioCurex is in. Your candor is commendable. kag

[Gold Seeker]

The bocx stated: "then the uncertainty of what Smithline will do and the concern related to the lack of money would be removed. With money, the company can continue its plan in China, the vet RECAF, etc."

If you are saying that new financing would eliminate the uncertainity of money issues, lets look at that some.

Moro has recently be able to get money at 5 cents. Moro has stated that he needs 3.4 million per year to operate and also pay Smithline the monthly installments.

To raise 3.4 million at 5 cents would take 60 million shares plus 60 million warrants for a total of 120 shares. That is just for the operation for one year and it would not pay off the Smithline loan. Moro would still owe over a million to Smithline and need a similar amount of funding for the following year.

Your assertion that this financing would eliminate the uncertainty of Smithline is absolutely false.


<<Biocurex anticipates that the capital requirements for the twelve months
ending September 30, 2009 will be as follows:

Research and Development - Therapeutics $ 450,000
Research and Development - Invitro diagnostics
(rapid tests, blood tests, histology tests) 700,000
Research and Development - Imagery 50,000
Payment of Outstanding Liabilities 80,000
General and Administrative Expenses 450,000
Marketing and Investor Communications 300,000
Payment of Principal on Convertible Notes 1,200,000
Payment of Interest on Convertible Notes 198,660
----------
Total: $3,428,660>>

[Gold Seeker]

Last Novemvber during a webcast on Agoracom, Moro stated that he would have revenue from China within 3 months and revenue from a semi exclusive licensee within a year. If Moro thinks Inverness is that close to revenue, then why is any large financing needed? Was Moro not telling the truth about revenue within a year? Has something else gone wrong?