Well, it's time for another secondary. What's different this time around? Market cap is not over $100 million, only a hair over $2 million. So no reverse split justified and no sizeable secondary is coming. If the market cap is only $2 million, who in the right mind would put $10 million in like in the past? So any secondary now under a million say is not going to last more than a quarter with a burn rate of $1 million a quarter. Any new secondary now the proceeds will be used to pay Mika's severance package. THIS THING IS DEAD! Even in Oz it is dead. Nothing left for people to be hoodwinked in to believing the story any more. The scarecrow is finally being eaten by crow! No more magic behind the curtain for Mika. The Great and Powerful Oz has "broken"! EQ
Well, they are burning through $1 million per quarter and have only $1 million left, so some type of financing has to be imminent. But, there has been some progress in the business. Yet, I would wait until there's more clarity on financing before buying the stock.
I can't believe Mika has waited this long to raise money. In the past he always was even up to a year ahead of when the money would be drained. Now they are within about 6 weeks of it. There was about $2 million as of 6/30/14 and with a drain rate of $1 million per quarter (and no sales in the foreseeable future) that would mean running out at 12/31/14. This is truly not Mika. Will be an interesting six weeks coming up. Something has to give pretty soon! Working on a deal to sell it? That's the only way he can continue to collect a paycheck from deep pockets if a secondary cannot raise the money. Preventing a possible sale resulting in this delay may be his severance package that he will insist goes with any sale. Hard to read between the lines here now. But it is highly unusual that a reverse spit on the share"holers" has not taken place ahead of a secondary by now to give more incentive for new share"holers" coming in. Should have happened by now. And the delisting threat has not even been announced yet. Things are moving very slow compared to the past. I think that suggest the well is dry and only fresh water comes in via a sale or some sort. Just a SWAG of mine. NO I WOULD NOT BUY IT HERE!!!!!! Not at any price! EQ
What makes it worse (or perhaps even explains why this happened) is that Mika is a CPA, and therefore should know EXACTLY what the financial status was/is at any time. He does know how to play the game and has been doing it for over a decade now. The real problem is several of us here knew this a long time ago, but nobody listened to us. Instead they chose to listen to him.
He has no credibility, yet somehow he convinces people to give him money. I have seen this before, but never more than a one act thing. This guy has been putting on a whole play for a decade with many acts and changes in characters, business purposes, you name it. I once described him as one notch above the devil because this guy is pure evil. But, even the devil can work miracles so what do I know. You want to put a very small portion of your portfolio with this guy, be my guest. He may finally hit the devil's jackpot!
But under no circumstances should you do what I did and put all your hard earned money with this guy. You will never see it again. I have long since recovered and done very well learning from this mistake. Now that I have a decent sized nest egg, I have refined my investment selection process. No medical companies, no technology companies, no thinly traded companies to name the big ones.
If you do not have nest egg and you want to roll the dice with this guy, go ahead. Just make sure you can afford to lose it. You buy when it's a dream and sell before it has to become reality. That is how you make money in the stock market. This thing has been a dream far too long to continue as such. It entered the reality stage many years ago and it has been downhill ever since. It needs to show profitability or you are wasting your time here and filling his pocket book. EQ
Management does not own any meaningful $ amount of CLRX shares, so they don't have enough "skin in the game" to care about the consequences of a highly-dilutive follow-on offering
Institutional ownership is basically non-existent, so there aren't any big shot there either to complain about and dictate management's direction
I never thought I would see this company sell shares in such a highly-dilutive manner at such a low prices, but now it looks entirely possible
from a financial vantage point, what an absolutely terribly managed company
they went swinging for the fences on a concept that admittedly may have merit, but with zero thought put into financial strategy in areas such as how to best manage short term cash flow, utilization of NOLs, etc,
As always, the retail shareholders end up holding the bag. what a shame.
Where is the reverse spit on the share"holers"? Did I miss it? It's coming! What are the odds? 15 to 1? Done that before, so how about 20 to 1? Or even 10 for 1/2 a share to make it look good and for those that have been through two already. That Mika always keeps you guessing when you pocket book is draining! What a leader! EQ
Right on time that new secondary is waiting in the weeds while this thing dies off into a delisting threat. Boy, I could not see that coming! As I said once before, the real question here is will Mika get one dime of his severance package? Everything else is scripted pretty much into a horror story. You can be part of the story. Just buy some shares and wait, listen and believe! EQ
What happened to that $10 target that quickly became a $7 target? What's the new target? Underground and to the moon through China? Next we will be hearing that Alibaba will be buying us. They need janitors. This place is good at cleaning, cleaning everybody out of their money! Should be a good fit that Mika will finally become successful at. If he's lucky, they will have all solar powered equipment that he is an expert in. A solar powered mop, where the sky is the limit for him to show the world what he is made of! As if they have not already seen it. Go Tegal! Nice eye popping chart now! Shoulders and a neck line, but no head! EQ
Mika should enter every one of those contests and he'd win every time! Could then leave this company and have his retirement plans intact without any need for the full blown FAT severance package. EQ
mika belongs in jail to lay in his own fe---ces... I remember when this was tvia I believe. tvia a couple years ago had $10 mill in cash... now ALL BURNT way... gone kaput... into mika and cohorts pockets. SEC needs to shut this scam down. $60,000 revenues ??? hahaha.. I think a small deli down the street had more in monthly sales than this scam had in 3 months
not really what?
Go to the NASDAQ site, enter CLRX, click on Search.
Scroll down and on the left hand side click SEC Filings.
Click on the S-1 form received 10/20/2014.
Get back with us on your findings.
Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement. 4,000,000 offered for sale