Replies to post #23263 on Nexus Energy Services Inc (IBGR)

[Snizzle]

I agree! That would be the most logical and reasonable explanation for PHAR's current status! What the real issue is is, when is Howard going to file this attorney letter to regain current status?

[cheyenne1]

Hey Vladimirr,, your right ,that could indeed be the reason..

But IMO ,whats happened to PHAR has been a collection of things. This is just another thing that can hurt market reaction to PHAR at a time when its on the brink. Whats the excuse for letting it get to having to come up with a reason, is my frustration..

Whats going to happen im afraid is maybe Friday/Mon a late filing request made for first QTR.,after just doing a late filing request. As well, maybe Pittera can get letter filed as well shortly to correct OTC status. Just dont like legal counsel for DM handling this type thing for PHAR. Bad way to conduct a public company if your trying to raise capitol using same counsel. Being late now and not following needed requirments in a timely manner is just inexcusable when your not even producing product ,meaning the time frames allowed to complete these requirments should be sufficient.
Take care GLTU

[TheFinalCD]

"BEWARE" (PHAR) OTC Pink Limited Information


OTC Pink Limited Information
Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to meet OTC Markets' Guidelines for Providing Adequate Current Information. Companies in this category have limited financial information not older than six months available on the OTC Disclosure & News Service or have made a filing on the SEC's EDGAR system in the previous six months.






No Proof of Share Reduction!
just what the company claims in their Press Release, and last "UNAUDITED" financial statement!

No real Proof for the Public to verify on Pinksheets, and The Secretary of State(SOS)

Deleware *SOS* https://delecorp.delaware.gov/tin/controller



This Press Release below was dated Oct 17, 2011
http://ih.advfn.com/p.php?pid=nmona&article=49562427

The "rollback" means that the Company's Chairman and CEO, Howard Phykitt, has canceled and returned 535 million shares of his total holdings of the common stock of PharmStar Pharmaceuticals to the Company's treasury. He has accepted a series of warrants as follows:


Prior to the rollback, there were 998,879,352 issued and outstanding shares of common stock of the Company. As a result of the rollback, there are now 435,000,000 issued and outstanding shares of common stock of the Company, plus 15,000,000 set aside for the initial warrants, plus 55,000,000 shares set aside for future financings. This means that every shareholder of the Company now owns a greater percentage of the Company by a factor of approximately 2. The reduction of the total outstanding shares of the Company implies a greater share value for the holdings of the non-majority shareholders.

But that Roll Back never happen, was never properly updated on Pinksheets http://www.otcmarkets.com/stock/PHAR/company-info

Pinksheets until this day still shows the share structure before the claimed Roll Back!

PHAR Security Details
Share Structure
Market Value1 $2,299,274 a/o Feb 09, 2012
Shares Outstanding 999,684,352 a/o Sep 30, 2011
Float 92,000,050 a/o Sep 30, 2011
Authorized Shares 1,001,184,352 a/o Sep 30, 2011

Many shareholders wondered "what happened to the Roll Back", and why hasnt it been updated through the proper channels Pinksheets and Pharmstar's Secretary of State(SOS)



Then on Jan 13, 2012 the claimed again they did a rollback but this time it changed
http://www.otcmarkets.com/financialReportViewer?symbol=PHAR&id=70758


as you see below even the original rollback that was in the press release never happened, it was changed and 125,800,000 million shares went somewhere, but NOT back to the companies Treasury as claimed!

* 409,200,000 common shares returned to treasury from Howard Phykitt on 10/31/11

The "rollback" means that the Company's Chairman and CEO, Howard Phykitt, has canceled and returned 535 million shares of his total holdings of the common stock of PharmStar Pharmaceuticals to the Company's treasury


During the time that shareholders were waiting for proof of any such rollback, the companies CEO Howard Phykitt went and issued shares in a *504* placement, this too also came out in the last financial report

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70896571

Date 12/1/11

Nature: 504

Jurisdiction: North Carolina

Shares 4,819,277 @ .0031 for $15,000

Also their is 20,800,000 shares that could be used for dilution coming off restriction this month Feb, 2012 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70960555




No Transperancy on many lingering questions and issues!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70630904