my dear friend, you are ignoring facts and common sense. Let's assume that Crede is scummy. They currently own from their filings more than 6 million shares, which my guess is only slightly more than you do. Why would they want to destroy the stock and the company? It hurts them economically. Instead of blindly being led down a path by a management team that has failed under ever possible standard to execute, perhaps you should dig a little deeper. The question I am asking is why if you were a good steward of shareholder's capital would you alienate your largest shareholder like this?
IMO from what I read on links from FINRA L.A.Times and many other reputable places , Terrin and his group and Crede are felons and crooks and believe if this EVEN gets to the courts XXII will be the winner . No doubt someone is up to no good in bringing the stock down, as it was addressed in today's press..My belief is they filed the lawsuit to create panic just like you are trying to do with your post..Look at what you wrote in your post about management. Why dont you post facts about Terrin ,Crede and his group not just your opinion about XXII management . There are delays sometimes and IMO this company is moving forward with great things ahead. I cant wait to hear more about the cannabis part of the business. Also I guess the FDA has invested in studies and other agencies that have written about XXII are false. Crede has such a bad rap they have only gotten two deals since XXII, that is why they are so desperate.IMO they have shorted or have others shorting against their stock. For those of you that what to SEE the facts about Crede IHub has them. The post number is on my post here title IHub. Yahoo doesn't allow links or I would post all the criminal links about Terrin and his group and Crede.
Has anybody actually thought about this lawsuit? This is not some tiny investor suing frivolously. This is the company's largest shareholder who currently owns 9.9% of the outstanding stock in the company, one where the management team has consistently deceived investors, made false promises and seen the stock decline to pennies even while they pay themselves handsomely. I don't know who is right here, but can't remember a company where the situation deteriorated so badly that the largest shareholder suing the company. This is not like activist situations where the Board and management have different views on the business. This is somebody who says they were defrauded by the company and still owns nearly 10% of it.
The first time i own XXII was years ago and went thru similar as with now with Sabby Capital shorting the stock, but I held on even though it can be hard and frustrating at times . Then the stock ran to 6 Bucks on a short squeeze and was well worth all the trying times. I am ready for round two now. Of course this IMO.
Pender, Sorry I did not initially post the sources for the GeoInvest analyses (saying, e.g., XXII was worth only .36, etc). I saw that most recent article several times, probably from the Investhub bulletin board where people post helpful data on XXII. The possible sources which led to my 19 April post was either Investhub or, the "news" which is posted daily on the Yahoo bulletin board. Like you, I kept digging this afternoon trying to come up with where I got the articles. No luck. It turns out GeoInvest has been shorting stocks and then bad mouthing them for quite some time. I had not heard of them before their attacks on XXII, but they have a well known history of that type of behavior.
Well IMO this is a non issue besides the pressure on the stock that could be shorts or some panic seller or both.XXII has to much going on and so undervalued here.
Pendernorman..I am not saying anything about either you are Vencenzo. His back story completely fills the void..neatly..from both the lawsuit and the company PR. That being said..and I certainly had difficulty expressing it..how and when will this get shut down if in fact it is a deliberate manipulation. I want more shares but will not pull the trigger until I am convinced that this is a non issue. As far as I am concerned this episode started right after the EOY report in March. Totally unexpected I must say.
I am not sure what you are saying about me. i saw the post from Vencnzo and could not find anything so I asked were he found it. I look and found this other post and asked again were he found it as I can not find anything about either. I am very bullish on XXII and agree with you someone it looks like someone is manipulating the stock.
Sentiment: Strong Buy
Vencenzo..your back story fits neatly into the company PR today. You showed up here in March. As well Pendernorman. This legal boondoggle is likely to take the PPS down more..what will stop this manipulation in the bud? Or is it as you say intentional manipulation ? When will the SEC step in if it is all about taking the price down..what will reverse it? I have been on a strong buy position but this manuever has moved me back a notch. Celeanese is a 10B MC company. I can't see them not knowing their customers potential.
that dope head joe...good riddance. whats' holding him back from jumping off niagara fall?
anyone has the right to short. nothing wrong with that. ok to lie for the cause too,,,just deal with the risks/consequences.
if this peizer guy was really once the right hand man of the captain of the industry, now with office in beijing, why is he so incompetent and cannot get a good deal? because he has zero credibility.
The agreement between XXII and Crede was made while Joe Pandolfino was the CEO of XXII, that was in September of 2014. A month later, XXII fired Joe. So yes, the Crede (owned soley byTerren Peizer) connection was made under Joe, the old regime. But there is another historical note worth mentioning. A few days ago, a hedge fund, GeoInvesting, released a report saying XXII was worth about .38 a share. That hedge fund is a specialist in shorting and then bad-mouthing a stock, and it has a track record of victimizing XXII's share price and share holders. Read the following excerpt from an earlier published Seeking Alpha article with GeoInvesting's beating up on Joe's error as a college student:
"Pandolfino was criticized in late August in a lengthy report posted on the Seeking Alpha website by a Pennsylvania-based hedge fund that will make a profit on its investment in 22nd Century if the share price declines. The hedge fund, GeoInvesting, noted that Pandolfino had agreed to a settlement with the Securities and Exchange Commission in 1992 on allegations that he fraudulently manipulated the price of two stocks by mailing anonymous letters urging people to buy shares in the companies."
The article concludes: "...22nd Century raised $10 million in late September by selling restricted stock to an entity controlled by investor Terren Peizer for $2.58 per share."
What is this historical connection: Both GeoInvesting and Peizer stand to gain if they can drive the share price of XXII lower. Both want (need?) to buy back XXII stock at a lower price, and for Peizer that would be in the form of exercising options, if he still owns the right to do so. Piezer's law suit against XXII and GeoInvesting's mud-slinging article showed up simultaneously. Hmmm.
would be interested on an update on your position with XXII...have you added/sold any over the last several months? Do you see buying opportunity? any talks with Henry?