thanks alesto, and I do understand that right now the company has 55M shares, the moment that this company exercises all these 80M shares is the thing I am worried about...It will happen if we skyrocket like scheduled! no?
Alesto, I don't think we have 50M shares currently, I thought there were only 33M outstanding shares? Also, an increase to 80M shares from 33M would halve the share price to keep the current market cap. I understand it allows for significant funds for marketing ceplene but with adding some 20-50M shares to a float will kill any upward movement in the s/p! It will take very, very heavy buying to get this to $6 as that would be a $480M market cap, which is huge! currently, it will be only a $300M market cap at $10, which is reasonable! just some thoughts, future looks bright still as $1B market cap is not out of the picture, but again, that is like $12 s/p w/ 80M shares! It will take time to do so!
You haven't done your DD. The latest SEC filling(se below) clearly says that they want to increase the number of authorized shares from 50 million + 5 million=55 million shares to 75 million + 5 milion=80 million, +25 million shares.You have to differ between the amendment to increase the authorized shares and the actual shares on the market today, read below.
AMENDMENT OF THE CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK "On April 10, 2007, the Board approved the submission to the stockholders of an amendment to EpiCept�s Restated Certificate of Incorporation to increase the authorized common stock of EpiCept from 55,000,000 (consisting of (i) 50,000,000 shares of common stock of the Company, par value $0.0001 per share, and (ii) 5,000,000 shares of preferred stock of the Company, par value $0.0001 per share) to 80,000,000 (consisting of (i) 75,000,000 shares of common stock of the Company, par value $0.0001 per share, and (ii) 5,000,000 shares of preferred stock of the Company, par value $0.0001 per share)."
vkstudti! +25 million shares, (today 50+5=55 million shares)
I think it's interesting, because this means that they are preparing for a Ceplene approval this year and then they have two options either a license agreement or sell and market the product in EU by themselves. Epicept turned down 2 offers last year regarding licensing Ceplene and I think from a strategic point of view it's good to have these two options when you are in negotiations with a third party. I found this in the proxy statement (23 of April, www.epicept.com)
"The continued availability of shares of common stock provides EpiCept with the flexibility to take advantage of various opportunities as they arise. However, at the date of this proxy statement, EpiCept has no plans for a financing or other transaction that would result in the issuance of common stock authorized by this amendment."
I agree, no one understands we are not adding 80 million shares of common stock, we are increasing the shares to 80 million. Remember due to the fact that insiders and institutions own so much of our float we have only about 20 million shares trading right now. DNDN has about 100 million shares and they were over $21.00 again on Friday. Remember if we get volume in the next few weeks on our low float right now we could far surpass DNDN's share price.