Fleeced. WHO do you think buys this stock when you pump out the PR nonsense about their treatments...? Who has money to buy -- the young or the old...???
Look, this company only exists on paper and rah rah promotions. A lot of noise about announcements. Criminally insane accounting obfuscation. All so insiders can DUMP stock they were essentially GIVEN to assist in this fraud.
Income statement: -Revenue of ZERO -SUPPOSED SG&A of 13.1 million -SUPPOSED Research of 6.1 million -SUPPOSED net loss of 24.7 million ... WHY "SUPPOSED"...?
Turn to the balance sheet: -Cash only 231 THOUSAND dollars -Fixed Assets only 35 HUNDRED dollars (two pc's and printer, eh?)
HOW is this possible???
Look at the Changes in Stockholders' Equity: -EVERYTHING is "funny money" -- aka STOCK for "expenses" -- like that "Research" -- NO CASH LAID OUT -- what are they giving Stock to study participants? The nurses? NO, IT'S ALL PHONY. -Stock for expenses. Stock for Licenses. Stock for Debt Service. Stock for Charity. STOCK STOCK STOCK. 12 million shares added to 47 million in 6 months -- OVER 25% INCREASE -Why?
The Statement of Cash Flows: -HERE WE SEE that the "Expenses" are all NON-CASH, only 81 THOUSAND in cash was spent on expenses -- still that's about ONE QUARTER of their total cash...!!! (There were two Promissory Notes -- see below -- totaling 449,000 -- completed, but where did that cash go? PAYMENTS TO OTHER NOTES!) -OBFUSCATION of the Cash Flow Statement by putting "Proceeds from sale of Warrants" and "Proceeds from sale of Stock" in the Financing area -- THOSE ARE SIMPLY OFFSETS OF ENTRIES IN THE OPERATING AREA of the statement -- THERE WAS NO CASH COMING IN, as can be plainly seen in the "Supplemental Disclosure" just below...!
EXCEPT FOR...:
3. Promissory Notes
In April 2013 the Company issued two short-term promissory notes to third party investors totaling $200,000. Under the terms of the notes, the Company was required to issue a total of 20,000 shares of restricted common stock to the note holders as loan origination fees. The notes matured 14 days from the date of issuance. Under the terms of the notes, if the loans were not repaid, the note holders would collectively receive 20,000 shares of restricted common stock on the maturity date and every 30 days thereafter that the notes remain unpaid. As of the date of this filing, the notes have not been repaid.
On March 11, 2013 the Company issued four short-term promissory notes to third party investors totaling $249,000. Under the terms of the notes, the Company was required to issue a total of 25,000 shares of restricted common stock to the note holders as loan origination fees. The notes matured on March 25, 2013. Under the terms of the notes, if the loans were not repaid, the note holders would collectively receive 25,000 shares of restricted common stock on the maturity date and every 30 days thereafter that the notes remain unpaid. As of the date of this filing, the notes have not been repaid
AHA!!! And these are just TWO of the six "notes" that keep any semblance of lawyers' fees, rent, postage, filing with the FDA, etc going.
Take the first one: TNIB BORROWS 200,000 DOLLARS FOR *TWO WEEKS* AND PAYS AN "ORIGINATION FEE" OF 20,000 SHARES OF STOCK...???
AND AFTER THE TWO WEEKS, STARTS PAYING 20,000 SHARES *PER MONTH* ON THE NOTE...???
Even at 2 bucks, that's 40,000 dollars "worth" of stock per month ... as interest on 200,000...???!!!
ANYONE who knows how to read Financials can see this is a SCAM. So shame on you all. Yeah, I know one retired person who owned this stock at 10 bucks -- THAT'S WHEN I LOOKED FOR SHORTS and couldn't find shares to borrow.
Since then this is just a PUBLIC SERVICE ANNOUNCEMENT.
One more thing: I respect the PRIVACY of my Oncologist friends -- and again, ask ANY Oncologist if you want the same answer -- as well as my friend who I got to dump this stock at 10. They don't need a bunch of ill-informed (on jargon, science and even financial aspects) Pumpers screaming at them.
So no, I won't name any names ... not unless you verify your real name and home address.
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