At some point I would hope that the selling of millions of shares would stop.
I don't know if it's warrant conversion, Brookline, Battelle, an insider, dilution, or all of the above, but AMIC can't survive too much longer at this rate. Hopefully next week we see a slowing down of shares on the bid, Sub-penny, believe it or not, is a lot different than 2 ct. per share. In other words, an induced coma (at $.02) is better than being on life support at $.004.
If selling levels off, I might even buy a couple more shares. In listening to Jim's speech the other day, he did allude to the fact that others were interested in the RadioGel technology. From an investment standpoint, you have to ask yourself is it worth $.004 to another company, or ten times as much at, for example, $.04. That alone is something to consider if AMIC doesn't have the funding to satisfy the FDA's questions and needs a partner. MDLAND~
Look at the terms on those convertibles in the 10q. If you had those terms you would not lose money unless you took the price per share down 50% or so before you finished selling in my opinion. Selling begets more selling and some guys like you and me, or Brookline as you mention, sell too and you get to .004 a share. Someone was buying it all too, probably someone who really read those 10q and was waiting for just the event we had. Or they got a "hint" from a convertible holder or someone else.....
Moto, for just a laugh, what is the market cap for this company just on a hope with fingers crossed when they resubmit for FDA approval? My opinion is $7.5 million and I GUESS $.021 for a share price. Kinda tricky not knowing the issued share count so I am guessing 340 million shares issued......;-)
Not long ago ADMD had a higher market cap I believe and were farther from the finish than they are now.
Also, there should be significant pressure on the share price too coming off of .004.
Seattle, What makes you think an FDA re submittal is coming soon? I have been told by someone who talked to the CEO that they are still 30 to 60 days away. The good news was that they now have the funds needed to complete the testing the FDA wanted.
SS, it's hard to say what the market cap. would be, because there are so many factors to consider. It's fun to speculate though.
Selling was relatively light on Friday (August, 29th), but what I would look for first is a pattern of fewer shares on the sell side and less volume over the course of a few days before my ears perked up. Of course that doesn't necessarily mean anything, but as you mentioned, the pressure would be on the pps to rise.
Re-filing by AMIC to me would mean that AMIC has all of it's ducks in a row and that they were giving it their last and best shot. After-all, why re-file if you haven't met the prerequisites? Didn't they learn their lesson last time? We have to realize too that AMIC has the distinct advantage of being an 'insider', so to speak. You and I have to wait until September 30th, and then weeks after that, to know exactly what the financials and key statistics are. Other than 8K filings, we are in the dark. Again, my guess is that AMIC will file at the most opportune time possible. Ideally, when all questions have been answered, warrant selling is at a minimum and they can put together the best possible, positive press release. With the criticism that AMIC faced after the first filing debacle, I doubt that they approach a re-filing half heartedly. A denial by the FDA this time would be devastating and mean they would have to sign with a partner or perhaps be bought for a relatively small amount, to recoup some of their loses. Remember, you and I paid around $.02 a share, Cadwell didn't.
My guess on price after re-filing and 8K release would be, $.03 within a few days, even with up to 300mil. shares O/S. MDLAND~