From their 10-Q filed yesterday - - "General and administrative expenses increased by $625,863 in the three months ended June 30, 2014 to $2,966,569 (THEY HAVE 4 EMPLOYEES!!!) up from $2,340,706 for the three months ended June 30, 2013."
I sold awhile back and lost big time, but at least I sold over $2. Call me a short, basher, whatever, but I am just a regular working guy who believed the lies, and got burned.
Their "statements" are just rehetoric. Anyone can say they are "implementing a plan" and "planning to initiate Phase III". It will never happen. There is no viable product, Moffitt Center or not. This was a scam through and through, and they are cashing in on it at almost $3,000,000 per quarter.
Sentiment: Strong Sell
These four guys that "run" the company....and you can add their shill from Las Vegas to that group.....are done. People, please stop with the buyout #$%$......that would have happened long ago if they had anything real to sell.... there will be no phase 3, that I am sure of. Get rid of this junk stock/company.
Dave...for the past 4+ years PVCT has only needed to accomplish one of two things to demonstrate true forward progress.....start a PIII trial in melanoma, and find a partner. To date they have failed miserably at both, but to their credit...they still draw over priced salaries
The four person company outsources a lot of their work. These companies charge fees, some are paid in cash others in stock or warrants. Even for large companies, compensation and benefits are just one expense category (this includes benefits and employment taxes). For PVCT, extra fees for the quarter include NYSE listing and significant travel expenses. The individual salaries are $500k per year per employee.
If you want one barometer of a stock, look at insider transactions. Employees have been buying stock big time, and have never sold a share. One actually exercised options at a price above the price it was trading at! I have never seen that. That only confirms they believe it is a good investment. They could be wrong, but if anyone knows more than the market, they do.