Why dont we ask PHAR and Howard where is all the money?? Its well known among investors that Howard and pharmstar needed a total of $6M in funding, Phase I alone was $2.8M
many people assumed that either Howard had it or could get it...
There has been recent talk of some on this board that spoke to Pharmstar, and were told that Phase I funding was almost complete, and some even claimed completed!
Anyone can see that PHAR has only $1,021 cash on hand
So where is the $6M needed for Aquaprin?, or even the $2.8M for just Phase I....heck where is any of the money invested by anyone Pref "D" shares $157,000 or any money...
You mean to tell me that Pharmstar is broke?
You mean to tell me that after almost a whole year that Pharmstar only has about $1k
well if NOT, then where is all the money???
Where is all the money from all the shares sold that Taber, Dennis, and others had?
I dont see any in the financials, is somebody hiding it?
Where did ot go??????
ASSETS Current Assets Checking/Savings 10000 · BB&T Checking 521.73 10005 · Petty Cash 500.00 Total Checking/Savings 1,021.73 Accounts Receivable 11000 · Accounts Receivable 25.50 Total Accounts Receivable 25.50
Anyone can see from the EOY financials that there is only 157,000 Pref D shares in the market @$1/share= $157k?
COMMON STOCK 9/30/2011 1,001,184,352 999,684,352 92,000,050 1 1,528 PREF. STOCK, SERIES A 9/30/2011 5,000 100 - 1 1 PREF. STOCK, SERIES B 9/30/2011 500,000 - - - - PREF. STOCK, SERIES C 9/30/2011 2,500,000 - - - - PREF. STOCK, SERIES D 9/30/2011 3,000,000 157,000 -
where is all the money, where did it go why is there only $1,021 in Pharmstars account?
Can you see why they didnt pay QuickDraw007 Can you see why they didnt pay Ben Henderson Can you see why I had trouble getting some money they promised me
Now I can see in Black and White why Howard was so worried about losing the Building and being presented with the reality of either having to move into a smaller building or worse having to move out, put his stuff in storage and just go back to working out of his home!
For Howard and Pharmstar this is very sad!
For Shareholders this should be a HUGE RED FLAG and a HUGE EYE OPENER to the financial condition of Pharmstar as of this report!
Bottom line= According to Pharmstars own financials there is NO money for Aquaprin,and Pharmstar is practically broke!
If this is NOT true then so please show us where the money/funding is?
Because many thought that Howard was loaded, and that there was millions either saved, or received by investors! and that Pharmstar was well on its way in the funding stages!
FACT: thats is just NOT the case!
Corporate Funding and Direction Phase One Raise $2,800.000 million dollars, which will accomplish the following: Use of Proceeds (Phase One) 1. Complete construction of R&D laboratory and Pilot production facilities. 2. Provide laboratory and pilot production equipment. 3. Scale up to pilot production capacity. 4. Register Facility and products with the FDA 5. Validate processes & equipment. 6. Do 90 day stabilities to get 2 year dating. 7. Write “Standard Operating Procedures”. 8. Expand laboratory area to be able to develop follow on products and line extensions. 9. Establish the manufacture, marketing, and sale of AQUAPRIN in limited quantities with phase 1 funding. Thoroughly engage its professional marketing team to get AQUAPRIN into distribution channels and in to drugstore shelves, hospitals, nursing homes, and into the prescription drug markets and or make licensing and distribution agreements as soon as possible. 10. Continue to develop advanced formulations, improvements and line extensions 11. Complete development of the Insta-Prin Emergency administration technology. 12. Develop several line extension of AQUAPRIN , such as: AQUAPRIN Cough & Cold, AQUAPRIN Cold & Flu, AQUAPRIN Menstrual Pain. AQUAPRIN Migraine Pain. 13. Conduct clinical claim trials to make specific claims for the product. Phase Two Raise $3,600.000 million dollars, which will accomplish the following: Use of Proceeds (Phase Two) · Initiate full scale clinical studies in order to meet FDA and FTC requirements to make claims of “fastest acting, Safest, and most effective” analgesic on the market. • Make leasehold improvements to a physical plant. • Establish full-scale production capability with phase 2 funding. • Continue to develop advanced formulations, improvements and line extensions. • Thoroughly engage its professional marketing team to get AQUAPRIN into retail distribution channels and in to drugstore shelves, hospitals, nursing homes, and into the prescription markets and or make licensing and distribution agreements as soon as possible. • Complete development of the Insta-Prin emergency administration technology. • Develop several line extension of AQUAPRIN, such as: AQUAPRIN Cough & Cold, AQUAPRIN Cold & Flu, AQUAPRIN Menstrual Pain, AQUAPRIN Migraine Pain. • License distribution for European and Asian markets.
sorry folks dont vent at me, its all right there in the companies own financials!
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