Recent

% | $
Quotes you view appear here for quick access.

OCATA THERAPEUTICS, INC. Message Board

freddyaophelps 509 posts  |  Last Activity: 1 hour 57 minutes ago Member since: Apr 18, 2013
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    It's like a bad dream for them

    by freddyaophelps Aug 17, 2016 12:33 PM
    freddyaophelps freddyaophelps Aug 17, 2016 3:31 PM Flag

    A Tale of Two Stings: Amogear and CitySide
    Posted on July 16, 2015 by Brenda Hamilton, Securities and Going Public Lawyer
    Last year, the Securities and Exchange Commission and the U.S. Attorney for the District of Massachusetts charged against five individuals whose attempt to manipulate shares of Amogear Inc. was caught in an FBI undercover operation. The defendants, stock promoters Andrew J. Affa, Michael A. Affa, Mitchell H. Brown, Christopher R. Putnam, and Christopher G. Nix, were charged with conspiracy to commit securities fraud.
    The arrests and criminal charges were only the tip of the iceberg. The case began and was developed as a sting that started at least several years earlier and which involved the FBI’s use of dormant public companies. Court documents reflect that in order too facilitate the sting, the FBI took control of a Nevada custodianship shell which housed a dormant public company with the name Kitcher Resources, Inc., a purported mining company. While the government was quick to point out no investor lost funds as a result of the pump and dump of Amogear’s shares, the shareholders of Kitcher were harmed dramatically because their ownership interests were eliminated. Schemes using custodianship proceedings aren’t complicated and don’t involve gray areas.
    Nevada state court judges have expressed outrage at the same practice used by the custodian to obtain control of Kitcher Resources. Custodianship schemes first hit the microcap markets with the assistance of convicted felon and securities lawyer, Peter Berney. In one case involving Berney, a Nevada judge was so outraged by the custodianship scheme that he ordered the transcript of the hearing be delivered to federal authorities. The transcript of that proceeding can be read here. Pages 109-115, provide a nice summary of the scheme.
    As reflected in the transcript, the scheme is simple. Fraudsters seeking to create reverse merger inventory submit an application to a state court judge seeking to be appointed as a custodian of an inactive issuer claiming to act for the benefit of the corporation and its stockholders. After appointment, the custodian eliminates the stockholders they promised to protect by enacting illegal reverse stock splits and issuing shares to themselves or their accomplices. After this, the custodian and other participants sell the shell company and pocket the proceeds.
    According to the Amogear indictment, the FBI took control of Amogear at some point after the Nevada custodianship proceeding ended. Even after taking control of the public shell, no actions were taken to restore the ownership interests of the stockholders or provide them with the proceeds from the sale of public shell in exchange for their interests. In Amogear and other recent cases, the government takes no steps to remedy the harm caused to the victims of the scheme-the stockholders who were eliminated.
    The Corporate Hijacking – Fleecing the Stockholders
    Joseph Arcaro filed the original application for appointment of a custodian on April 11, 2011. Arcaro is an old hand at creating and peddling public shells; he’s in fact known in some circles as “The Shell King.” In his petition for custodianship of Kitcher, he stated that the purpose of the action was “to continue the business of the corporation for the benefit of the corporation and its stockholders.” Interestingly enough, in support of the motion to be appointed as custodian (a fiduciary), Arcaro failed to disclose that he would not continue the business of the company and instead would create a public shell company to sell for use in a reverse merger transaction. The creation of the shell company would require that the interests of the company’s legitimate shareholders be wiped out with reverse stock splits while issuing new shares to Arcaro and/or the final shell purchaser. What is also interesting is that in two of those five cases, the custodianship action was stopped when the companies’ transfer agents—who are encouraged by the SEC to act as “gatekeepers”—objected, declining to provide shareholder lists to Arcaro. As is true in all custodianship hijackings, Arcaro committed fraud to obtain control of the public shell as a custodian.
    The illegal Kitcher state court proceeding went without a hitch, and Arcaro was granted custodianship of the shell a little more than a month later, on May 24. Arcaro enacted a 1:40reverse split on June 13, 2011. He then lost no time finding a buyer for the shell. On October 14, he entered into a stock purchase agreement with Michael Ceccon, by the terms of which he sold 1 million shares of common stock to Ceccon. Three days later, Ceccon became the company’s sole officer and director, controlling the company with 57.14% ownership. A glaring omission in the filing is any account of Ceccon’s background. There’s a section for it, titled “Business Experience,” but all that’s noted below is “insert.”
    Ceccon, who is purportedly from Massachusetts, announced that he planned to turn Amogear into a martial arts apparel company. We know now that it did no business, and never planned to do any business.
    Arcaro’s custodianship was terminated on February 24, 2012. By that time, despite the fact that no disclosure was made to the Nevada court in the custodianship procceding, Amogear had already applied to FINRA for approval of a 1:500 reverse stock split that would reduce its outstanding shares from 1,750,005 to 3,512 shares of common stock! The split became effective on March 1, 2012. Needless to say, the investments of any old holders of the Kitcher shell were wiped out, or nearly so.
    Our understanding of what happened next depends on an interpretation of Amogear’s SEC filings, taken along with the SEC litigation and Department of Justice indictments related to the AMOG fraud. On June 24, 2014, the DOJ announced its criminal action against the Affa brothers, Putnam, and Brown. The SEC followed up with a civil lawsuit filed on 11 July. Months passed, and then on November 6, 2014, the agency brought seemingly unrelated litigation against California attorney Richard Weed, and Massachusetts residents Thomas Brazil and Coleman Flaherty III for their pump and dump manipulation of a company called CitySide Tickets, Inc. (CIST; now UBEX). In a surprise twist, on December 4 the DOJ announced the criminal indictment of Weed—but not Brazil or Flaherty—for securities fraud in connection not only with CitySide, but also with Amogear.
    Weed began the CitySide scam as early as 2006. The Nevada shell had been formed in 1993 as Petrex Corp, and thereafter underwent a dizzying number of mergers, reinstatements, and name changes. It went dormant between 2004 and 2006. In April of that year, it was reinstated, and its name changed to GFY Foods, Inc. According to the SEC, in February, Weed had become the beneficial owner of 45 percent of GFY’s float; his first act upon taking control was to terminate the company’s SEC registration. Upon reinstatement, he became its sole officer and director. No further explanation of how these changes came about is offered in the SEC’s complaint. The shell remained inactive until late 2009, when Brazil and Flaherty purchased a controlling interest in the company for $115,000. There followed a reverse merger with The UpTurn, Inc. UpTurn’s CEO was Jeffrey Eckman of Cambridge, Massachusetts, but he seems to have been meant to act as nothing more than a figurehead. He turned out to be one of the rare figureheads who make trouble.
    Flaherty claimed he held convertible notes worth approximately $170,000; they would convert into 50 million shares of UpTurn stock. No such notes existed, so Weed suggested that backdated notes be created. He drafted ten of them, but unfortunately for the co-conspirators, Eckman refused to sign them. The SEC alleges that Weed then took the unsigned notes and forged Eckman’s signature to them. Weed then wrote opinions fraudulently claiming the debt was appropriately aged, and sent them to the company’s transfer agent, who delivered the 50 million shares of stock to Flaherty. By July, Eckman had resigned, and was replaced by Weed. Flaherty and Brazil went looking for a new private company to merge into UpTurn and manipulate.
    They found it in CitySide Tickets, Inc. Like UpTurn, it was located in Boston, and its owner, Mike DeAmicis, had approached Flaherty for financing. Flaherty and Brazil promised that a reverse merger could provide $250,000 for the company, and DeAmicis eagerly agreed to the deal. In December 2009, CitySide began to trade as CIST. More notes were converted into unrestricted shares. Several of them were held by Flaherty’s Trinity Alliance Ltd., Trinity International LLC, and 24-7 Media. Much of this stock was distributed to entities he and Brazil controlled, or planned to use in a pump and dump operation.
    Weed continued to write opinion letters for Flaherty’s conversions, fraudulently stating that Flaherty was not an affiliate of the issuer. Meanwhile, Flaherty and Brazil had engaged a company referred to in the SEC complaint only as “the Group” to promote CIST. As the pump began in February 2010, Flaherty sold stock through the entities he controlled, and Brazil sold through his own Boston Financial Partners. Toward the end of the month, Brazil and Flaherty attended a meeting to coordinate the promotion. Unaware that the meeting was being recorded, as the SEC says, “by federal law enforcement agents as part of an undercover investigation,” they chattered on about how they were funding the promo, and how they intended to abandon CitySide once it was over.
    The pump had petered out by the end of April. According to the SEC, Flaherty and Brazil collected about $3 million in ill-gotten gains. Weed had also profited, in payments for his legal work and also for his help with the pump and dump scheme. A few months later, in November 2010, the group took another shot at running the stock, which by then had a new name: Causeway Entertainment Company. The ticker remained the same. In early 2011, the shell became United Bullion Exchange, Inc. (UBEX). On March 2, 2015, the SEC suspended trading in UBEX, along with 128 other Pinks, most of them inactive for years.
    UBEX barely got off the ground, though Weed continued to write opinion letters making it possible for Brazil and Flaherty to convert notes and sell the resulting stock. By the summer of 2012, he was ready to write opinion letters for the fraudsters behind Amogear. Those fraudsters included Flaherty.
    Amogear Heats Up
    We know now, though only from a single line in the SEC’s complaint against Weed, Flaherty, and Brazil, that individuals involved in the CitySide fraud were targeted in an FBI sting. So far, Weed is the sole named defendant in the criminal case, but Flaherty and Brazil are identified as “co-conspirators” in the indictment. They may have been charged in sealed indictments; they may already have agreed to a plea bargain.
    Weed’s criminal case was filed as part of the action against the Amogear promoters. With the information we’ve so far been provided, it’s impossible to know whether the investigation of the CitySide promotion flowed seamlessly into the Amogear investigation, or whether the two became linked at some later stage, when it became clear that they shared some of the same players.
    Preparations for the AMOG pump and dump apparently began in early 2012, when the second reverse split of the company’s stock reduced the company’s issued and outstanding stock to a mere 3,512 shares, nearly all of them owned by Michael Ceccon, the new CEO. On March 12, a few days after the split became effective, 40 million new shares were issued. According to the SEC, the FBI got its foot in Amogear’s door through a confidential informant, referred to in the relative complaint as “the CI.” The CI, they say, had acquired the shell, and “subsequently acted in an undercover capacity in concert with special agents of the FBI.” The CI, therefore, seems to be Ceccon. Amogear’s 10-K for fiscal 2012 notes in its subsequent events section that the 40 million shares issued in the aftermath of the reverse split went to Ceccon “in exchange for services,” but the SEC tells a different story. Their investigation revealed that the certificate for those shares “had been issued in the name of an associate of the CI, but [by August 2012] had been delivered to the CI’s office by a transfer agent pursuant to the associate’s instructions.”
    The stock issuances didn’t stop there. On March 14, the company had settled a debt owned to its transfer agent in the principal amount of $1,700. The debt was held in the form of a convertible note that Holladay had sold to none other than Coleman Flaherty’s Trinity International. By the end of the month, AMOG had 42,223,512 shares of common issued and outstanding.
    Ceccon, his work apparently done, resigned all of his offices on March 27. He was replaced by Richard Brutti. Brutti has a more extensive public biography than Ceccon. He’s described in the 10-K for 2012 as an “independent management consultant” with 30 years’ experience, but is better known to penny stock traders as the founder and co-host of Mind Your Own Business The Radio Show, a program that often promoted cheap OTC issues.. He was also for a time CEO of VizStar, Inc. (now KPOC), and had just left that position when he took over at AMOG. During his tenure with VizStar, he pumped the stock vigorously. Brutti even “interviewed” promoter Geoffrey Eiten on his MYOB program about the company, without making it clear he was the CEO. Eiten went so far as to suggest that the lowly penny might be Warren Buffet’s next buyout candidate. Eiten was sued by the SEC in 2011; the action settled eventually, and Eiten received a large fine and a penny stock bar. Interestingly, it’s clear from Eiten’s disclaimers at his website and in his email alerts that he was in some way connected to Flaherty’s Trinity International, which he claimed to be his “publisher.”
    When Brutti took over, what happened to the 40 million shares the company said it paid Ceccon for his services? In the 2012 10-K, Ceccon is shown as the only greater-than-10-percent holder, with a 57.14% ownership and 40,003,333 shares. It could be argued that he stepped down as an officer and director because he wanted to be able to dispose of that stock. Had he still held those positions, he’d have been unable to sell more than the equivalent 1 percent of the shares outstanding each quarter. If he resigned, and then distributed the stock among nominee entities, each holding less than 9.99 percent, an attorney willing to write fraudulent opinions could say those entities were not affiliates, and were therefore free to sell as much as they wanted. That is, in fact, exactly what Weed had done for Flaherty and Brazil when they wished to dump their CitySite stock.
    In May 2013, when Amogear filed its 10-K for fiscal 2012, Ceccon’s beneficial ownership had not changed. Brutti was not listed as a beneficial owner, and there is no indication he received any salary for his work. None of that makes much sense, but in light of the current litigation and criminal prosecution, it’s likely the company filings are not entirely truthful.
    While a quick reading of the documents suggests that Ceccon was the CI who was so useful to the authorities, that would be a misidentification. The SEC says that in August 2012, the “CI held in his office the physical stock certificate for 40,000,000 restricted shares of Amogear stock.” They add that the certificate was in the name of an associate of the CI. The CI also “held a convertible promissory note through a company he owned and controlled which was converted into 17,000,000 purportedly unrestricted shares of Amogear stock between March 19, 2012 and October 29, 2013.” It thus appears that the CI was not Ceccon, who by August 2012 was no longer an officer of the company, and so would not have held that very large certificate “in his office.”
    The SEC makes clear that by August 2012 the CI was on board. In the summer of 2012, he’d begun laying plans for a stock promotion, and had talked to Nix, Putnam, and others about the proposed campaign. He knew Nix and Putnam because he’d worked with them in the past.
    The Amogear Promotion
    At the end of August, Nix and Putnam went to Boston to discuss the upcoming pump and dump with the CI. An undercover FBI agent was present at their meeting, which was secretly recorded. The group discussed technical aspects of their project, and solemnly agreed to purchase burner phones in the hope of avoiding detection by the authorities.
    A few months later, implementation of the plan was delayed when one of the participants decided to withdraw. Discussions were not resumed until the fall of 2013, when the CI and Putnam once again spoke. The CI had by then involved another individual and his associates. He explained in a later call to Putnam and Nix that they’d receive stock for their trouble and, if all went well, would be able to sell it for a very healthy profit. The Affa brothers also flew to Boston, where they met with the CI and the FBI undercover agent.
    During September 2013, the agent received a promotion: he replaced Brutti as CEO of the company. His appointment was never officially announced, and, since AMOG conveniently stopped filing with the SEC in the month he took over, Edgar offers no information about him. In a single surviving press release from February 2014, he’s called “recently appointed CEO John Kennedy.” While that’s most certainly not his real name, it’s a perfect moniker for an FBI agent, and, of course, for the leader of a Boston-based company. One thing is certain: he wasn’t Ceccon, and he wasn’t Brutti.
    Around the same time—August through November 2013—Coleman Flaherty reentered the picture. According to the Weed indictment, he’d been cooperating with the FBI since 2012, and in March of that year he’d purchased the $1,700 debt in the name of his Trinity International. He contacted Weed and informed him that by virtue of that note he controlled Amogear. He did in fact own all but a few shares of the public float. That would be the stock sold into the market once the pump began.
    So far, so good. But this is where the official accounts—that offered by the SEC in its complaint against the Amogear promoters, and that offered by the DOJ in its indictment of Weed—differ in important ways.
    According to the DOJ, Flaherty asked Weed for help assigning the debt to three entities controlled by him: Chateau Properties Ltd., Backwoods Ventures Inc., and Partners Consultants Inc. That was a necessary step, because had the stock not been divided, Flaherty, as a greater-than-10-percent owner, would not have been able to sell all of it. Weed provided three fraudulent opinions, and on October 29, 2013, AMOG’s transfer agent issued free trading stock to the three entities. The DOJ sustains that the opinions were fraudulent precisely because Weed knew that the three nominee companies were controlled by Flaherty.
    But the SEC says that was not the case: “[T]he CI assigned the convertible promissory note held by the CI’s company to three foreign entities that Mike Affa designated: Backwoods Ventures, Inc., Partners Consultants Inc., and Chateau Properties Limited.” The transfer agent cut three certs, each for about 4.9 million shares of free trading stock. The certificates were sent to Titan International Securities in Belize for deposit.
    One thing is evident: Coleman Flaherty was the CI, and had been since he bought the $1,700 note in March 2012. Flaherty’s history with CitySide suggests he prefers not to serve as an officer or director of companies he controls. Given Trinity International’s connection to Geoffrey Eiten, and Eiten’s connection to Brutti, it’s possible Brutti and Flaherty were already acquainted, and Brutti was willing to serve as a front man in the Amogear scam.
    Once the stock was in the promoters’ accounts, the promotion was ready to go. There’d been no market for Amogear’s stock, so in January 2014, the Affas and their business partners arranged to create one, giving the appearance of activity by trading among themselves. On February 9 and 10, email blasts cooked up much earlier were sent out to subscribers of the promoters’ “tips” services. But the anticipated one-week initial promotion was not to be. On February 10, the SEC nipped it in the bud by suspending trading in Amogear’s stock, citing the email spam and potentially manipulative trading in the stock as the reason for the action.
    Lessons Learned
    The tawdry story of CitySite and Amogear offers several lessons, and raises more than a few questions. First, it illustrates once again that fraud is a predictable component of corporate hijackings using custodianship actions. The Kitcher shell, used in the Amogear scam, was provably hijacked. The CitySide shell, acquired by Richard Weed as GFY Foods, may have been hijacked. A glaring figure in the SEC’s highly publicized “Operation Shell Expel” is that it has failed to charge any of the custodianship hijackers despite that they are engaged in fraud.
    Another lesson is that while SEC filings at least leave an indelible record, they aren’t an infallible guide to the truth. CitySide was a Pink, Amogear an SEC registrant. Yet the filings of both are frequently mendacious and often incomplete. At no time between early 2012 and early 2014 were AMOG’s filings reviewed by the SEC’s Division of Corporation Finance. Had they been, a number of inconsistencies would no doubt have come to light. Perhaps this omission was deliberate despite the harm to stockholders, because scrutiny might have interfered with the sting.
    Similar sting operations were put in place with both CitySide and Amogear. Undercover FBI agents were introduced as participants in the planned pump and dump scheme. Yet in the case of CitySide, the pump and dump was allowed to proceed unhindered. Why? Simply because the authorities knew the perps would try it again, and decided to let them have another shot?
    We believe it would be fair to say that so far, the results obtained from these elaborate operations have been modest when weighed against the harm to stockholders of the public shell and fraud committed in the custodianship proceedings. Five promoters and one attorney were criminally charged. The promoters were hired to run a pump and dump scam; that’s what promoters generally do. Weed was an enabler, fronting for his clients and writing opinion letters. Both were working for bigger fish who, as things stand now, will apparently not be going to prison. Flaherty and Brazil made $3 million on the CitySide scheme. Weed collected $5000 a month as legal counsel, and a few thousand more for helping out with the promo. The Affas and their associates made nothing on the Amogear pump and dump, but Flaherty had promised them only about $250,000.
    Flaherty and Brazil, in this case, were the big fish. They’ve been sued by the SEC. In the Weed indictment, they’re referred to as “co-conspirators,” leaving open the possibility they’ve already agreed to guilty pleas. Despite the obvious illegal takeover of Amogear, the hijacker was not charged. But wouldn’t it be more efficient simply to go after these big fish to begin with, rather than hope they can be forced into cooperating with the Feds? Why not seek cooperation from the little guys, and send their employers and the corporate hijackers up the river without the benefit of “licenses to swindle” and reduced sentences?

  • freddyaophelps freddyaophelps Aug 17, 2016 3:23 PM Flag

    SECURITIES AND EXCHANGE COMMISSION
    Litigation Release No. 23575 / June 21, 2016
    Securities and Exchange Commission v. Hemp, Inc., et al., No. 2:16-cv-1413 (D. Nev. June 20, 2016)

    SEC Charges Issuer, its CEO, and His Associates with Engaging in a Fraudulent Scheme to Evade the Registration Provisions of Section 5 of the Securities Act of 1933

    The Securities and Exchange Commission on June 20, 2016, charged Las Vegas-based issuer Hemp, Inc.; its CEO, Bruce Perlowin; Bruce's friend, Barry Epling; Bruce's brother, Jed Perlowin; and certain other private companies with engaging in a long-running fraudulent scheme to evade the registration provisions of Section 5 of the Securities Act of 1933 in connection with securities issued by Hemp.

    According to the SEC's complaint, Bruce Perlowin and his co-defendants sold hundreds of millions of unregistered and purportedly unrestricted Hemp shares to public investors. The execution of this scheme involved, among other things, purported gifts and consulting agreements that do not appear to have been bona fide, the use of nominee companies, and fraudulent statements made to Commission-registered broker-dealers.

    The SEC's complaint charges Hemp, Inc., Bruce Perlowin, Epling, Jed Perlowin, and private companies owned by Epling or Jed Perlowin with violating the registration provisions of Section 5 of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks permanent injunctions, financial penalties, disgorgement of ill-gotten gains plus interest against all defendants, and officer-and-director bars against Bruce Perlowin and Epling.

    The SEC's investigation was conducted by James J. Thibodeau and supervised by Richard R. Best of the SEC's Salt Lake Regional Office. The SEC's litigation will be led by Amy J. Oliver

  • "The term hot desking is thought to be derived from a naval practice called hot racking, where sailors working on different shifts share the same bunks. When we (iHub) talk about hot desking in this blog, we're generally referring to co-working spaces...Hot Desking in Manchester could change your (social) life."

    "Services like printing and Wi-Fi are generally included in the price, which means you don’t have to worry about set up costs, or wait months for things to get installed. Along with free tea and coffee being commonplace in hot desking hubs, the amount of money you’ll end up saving is crazy. FYI – we often bring champagne to your desk on a Friday too, because we’re nice like that."

    iHub Corporate Office 13th floor, City Tower, Plaza,, Piccadilly Gardens, Manchester, United Kingdom M1 4BT
    Saturday 12AM–11:59PM
    Sunday Open 24 hours
    Monday Open 24 hours
    Tuesday Open 24 hours
    Wednesday Open 24 hours
    Thursday Open 24 hours
    Friday Open 24 hours

    The chimps boss must be an "all around good guy".

  • freddyaophelps freddyaophelps Aug 17, 2016 2:51 PM Flag

    Oncotarget. 2016 May 12. doi: 10.18632/oncotarget.9335. [Epub ahead of print]

    Smiley face for spooge being a real person that posts 20 hours a day, some thought you were just a computer program. Gotta love that hot desking eh chimp?

  • freddyaophelps freddyaophelps Aug 17, 2016 2:22 PM Flag

    “This will be a small trial that will move quickly with the end goal to provide the critical data necessary to forge a partnership with a large pharmaceutical company interested in co-developing Kevetrin as it makes progress toward possibly becoming the first p53-activating drug approved by the FDA.”

    See more at: http://cellceutix.com/cellceutix-prepares-phase-2a-ovarian-cancer-trial-of-kevetrin-a-novel-p53-modulating-drug-candidate-based-upon-phase-1-topline-data/#sthash.kfYwrShR.dpuf

  • Frink RE1, Peyton M1, Schiller JH2,3,4, Gazdar AF1,5,3, Shay JW3,6,7, Minna JD1,3,8,4.

    Author information

    1Hamon Center for Therapeutic Oncology Research, University of Texas Southwestern Medical Center, Dallas, TX, USA.
    2Inova Schar Cancer Institute, Falls Church, VA, USA.
    3Simmons Cancer Center, University of Texas Southwestern Medical Center, Dallas, TX, USA.
    4Department of Internal Medicine, University of Texas Southwestern Medical Center, Dallas, TX, USA.
    5Department of Pathology, University of Texas Southwestern Medical Center, Dallas, TX, USA.
    6Department of Cell Biology, University of Texas Southwestern Medical Center, Dallas, TX, USA.
    7Center for Excellence in Genomics Medicine Research, King Abdulaziz University, Jeddah, Saudi Arabia.
    8Department of Pharmacology, University of Texas Southwestern Medical Center, Dallas, TX, USA.

    Abstract

    Telomerase was evaluated as a therapeutic oncotarget by studying the efficacy of the telomerase inhibitor imetelstat in non-small cell lung cancer (NSCLC) cell lines to determine the range of response phenotypes and identify potential biomarkers of response. A panel of 63 NSCLC cell lines was studied for telomere length and imetelstat efficacy in inhibiting colony formation and no correlation was found with patient characteristics, tumor histology, and oncogenotypes. While there was no overall correlation between imetelstat efficacy with initial telomere length (ranging from 1.5 to 20 kb), the quartile of NSCLC lines with the shortest telomeres was more sensitive than the quartile with the longest telomeres. Continuous long-term treatment with imetelstat resulted in sustained telomerase inhibition, progressive telomere shortening and eventual growth inhibition in a telomere-length dependent manner. Cessation of imetelstat therapy before growth inhibition was followed by telomere regrowth. Likewise, in vivo imetelstat treatment caused tumor xenograft growth inhibition in a telomere-length dependent manner. We conclude from these preclinical studies of telomerase as an oncotarget tested by imetelstat response that imetelstat has efficacy across the entire oncogenotype spectrum of NSCLC, continuous therapy is necessary to prevent telomere regrowth, and short telomeres appears to be the best treatment biomarker.

    KEYWORDS:

    imetelstat; lung cancer; telomerase; telomerase inhibition; telomeres

    PMID: 27192120 DOI: 10.18632/oncotarget.9335

    [PubMed - as supplied by publisher] Free full text

  • Pump Stopper exposed, Shkreli and Greebel talking to the Feds, SEC makes short and distort manipulation a point of emphasis, Rosen facing upcoming sanctions hearing, Sullivan's intelligence regarding manipulation passed to State and Federal authorities, the Panama Papers exposed names behind the shells with Nevada and Wyoming investigating their huge number of pump and dump shells, Perlowin facing charges... It might be someone like Greebel or Shkreli that breaks this wide open or it could be a fringe player like the Milberg Weiss or Matt Brown cases. Regardless the heat is on...

    Smile face for the naked shorts caught in STEM...that's a good streeeeeeetching exercise.

  • freddyaophelps by freddyaophelps Aug 17, 2016 12:33 PM Flag

    Pump Stopper exposed, Shkreli and Greebel talking to the Feds, SEC makes short and distort manipulation a point of emphasis, Rosen facing upcoming sanctions hearing, Sullivan's intelligence regarding manipulation passed to State and Federal authorities, the Panama Papers exposed names behind the shells with Nevada and Wyoming investigating their huge number of pump and dump shells, Perlowin facing charges... It might be someone like Greebel or Shkreli that breaks this wide open or it could be a fringe player like the Milberg Weiss or Matt Brown cases. Regardless the heat is on...

  • freddyaophelps freddyaophelps Aug 16, 2016 10:21 PM Flag

    59 million shares with only a 9 million float.

  • freddyaophelps freddyaophelps Aug 16, 2016 9:56 PM Flag

    Re: Who are the freakin' idiots red thumbing a helpful post like this.

    Unfortunately some have "tu" hit rock bottom before they will accept help.

  • Reply to

    MF now recruiting 75 locations

    by mangymutt Aug 16, 2016 5:09 PM
    freddyaophelps freddyaophelps Aug 16, 2016 9:45 PM Flag

    9 new locations added today

    "The SEC, of late, has turned its gaze to unfair and possibly illegal market manipulation by short sellers, particularly the naked variety. And this, the added attention, regardless whether you're Goldman Sachs doing it to Overstock (NASDAQ:OSTK), or an offshore cabal, as some claim, which likes to target emerging biotechnology stocks, like Cellceutix, or Ocata..."

    It's like a bad dream eh captain, your short and distort scheme is coming apart at the seams!

  • Reply to

    Who is an eligible whistleblower?

    by freddyaophelps Aug 2, 2016 10:21 AM
    freddyaophelps freddyaophelps Aug 16, 2016 9:39 PM Flag

    The whistle is blowing...Don't miss the train.

    Smiley face

  • freddyaophelps by freddyaophelps Aug 16, 2016 9:33 PM Flag

    I expect more and worse in your not so distant future.
    I know how you can change your luck:
    In order to qualify for an award under the whistleblower program, you must submit your information either through our online Tips, Complaints and Referrals questionnaire or by completing our hardcopy Form-TCR and mailing or faxing it to the SEC Office of the Whistleblower, 100 F Street NE, Mail Stop 5631, Washington, DC 20549, Fax (703) 813-9322. See Rule 21F-9.

  • Reply to

    Getting Caught Short

    by freddyaophelps Aug 16, 2016 8:46 PM
    freddyaophelps freddyaophelps Aug 16, 2016 8:54 PM Flag

    3 red thumbs in just 4 minutes?! I was just going to note the author but I'm betting the multi alias hot desker already knows.
    P.S. It was Do Diligence's Instablog

    Smiley face

  • freddyaophelps by freddyaophelps Aug 16, 2016 8:49 PM Flag

    Getting Caught Short: Signs Of A Changing Regulatory Environment? 8 comments
    Apr 7, 2016 11:39 AM | about stocks: CTIX
    Summary

    · Legitimate shorting of a stock serves a useful purpose in the market by establishing a more balanced valuation of a company's products and/or potential.
    · That said, the SEC seems to be paying more attention to intentionally manipulative "short and distort" tactics and not just "pump and dump" schemes.
    · Publicly-traded companies that feel they've been unfairly targeted (maligned) are starting to hit back, defending themselves by lawyering up and pursuing legal actions against bad actors.
    · Segments of the financial industry are attempting to level the investment playing field, for example, by requesting equal treatment in reporting disclosures between long and short positions.
    Introduction-Online Market Manipulation in the Regulatory Crosshairs

    Discussed in this article is the added scrutiny being applied by U.S. Securities and Exchange Commission (SEC) towards identifying possible illegal market manipulation by the posting of intentionally false and misleading content via online forums. Last year, the SEC posted on its website an Updated Investor Alert highlighting how "fraudsters" may "attempt to manipulate share prices" in this way.

    Source

    Also detailed below are certain actions that have been taken by targeted companies in order to protect their reputations and business models when attacked by what appear to be dubious "short and distort" schemes. Cases include: Cellceutix (OTCQB:CTIX); MagneGas (NASDAQ:MNGA); Ocata Therapeutics (NASDAQ:OCAT); and MecidiciNova (NASDAQ:MNOV).
    Whether long or short a stock, bull or bear, and regardless of industry or trading platform (exchange), one might be advised to keep tabs on how this changing regulatory situation continues to plays out.
    If not, arguably, one might have an investment blind spot as big as a sunspot.
    Taking the Long View of a Company-Fundamentally Optimistic

    It's fair to say many long-term investors, beyond those purely (and admirably) interested in a company's social or environmental impact, invest in a company because they want to see their stake appreciate based on the fundamentals. That the company is viable; that management is capable; that the products and services in development or already out in the marketplace are good ones-at least on par with, and maybe even can outperform, perhaps displace altogether, a majority of the competition. Sometimes one finds a preferred combination: a company that's contributing to the betterment of society in some way, and holds the potential to add more than a few shiny pennies to the piggy bank.
    Going Short in a Stock-Nakedly Pessimistic

    But as most investors know only too well, others lurk out there with a different set of motives and tactics toward realizing financial gains-yes, the people on other side of the equation. The infamous Shorts, or those wanting, well, betting, that a stock will drop. And the lower the price goes, the better for them but not for you, that is if you're long the stock. (Day traders, moving in and out of positions, are a different beast altogether.) And not that there is anything wrong with short-selling a stock, in most instances. Indeed, one can be both short and long a stock, often an effective hedging strategy. Where things tend to get tricky, and potentially sticky in a legal sense, is when the strategies deployed by those taking short positions can be called into question; to be more specific, when they may fail to comply with securities laws by engaging in intentional, and thus illegal, market manipulation.
    Mako Research Attacks Cellceutix-And Cellceutix Bites Back

    We recently wrote about the difficulties-in lost market capitalization, in lost shareholder confidence- Cellceutix faced following an August 2015 "hit piece" penned by Mako Research, whose public profile perhaps best says it all: "You should assume that Mako Research stands to profit in the event the issuer's stock declines." As noted in this earlier article, while Cellceutix's primary concern is to get the follow-on class action lawsuit filed by the Rosen Law firm tossed (exactly what happened in another Rosen action, in 2012, Wolfe et al v. AspenBio Pharma, Inc. et al., where the judge upheld an earlier district ruling, noting that stacking "inference upon inference" is insufficient legal grounds to stand on), the company has signaled it may choose to go after Mako for damages.
    (click to enlarge)

    Source

    Cellceutix CEO Leo Ehrlich said: "Shorting stocks is a legitimate way of keeping checks and balances in the stock market. But what happened here was grossly illegal. ..." He later remarked: "What happened to Cellceutix can happen to any public company […]. We are taking a stand on this for our company and for the biotech/pharmaceutical industry in general […]." Attorney Michael Sullivan, representing Cellceutix, when asked if Cellceutix management would be satisfied with Rosen withdrawing the lawsuit, had this to say: "I don't think this company will be satisfied with just that." Sullivan, a few weeks later, in a letter sent to The Rosen Law Firm on Cellceutix's behalf, further hinted it had uncovered information ("communication" and "intelligence") that showed "a potential conspiracy to commit securities manipulation," and that it would be provided "to regulatory and enforcement levels as both the state and federal level."
    The Pump Stopper Attacks MagneGas-And MagneGas Lawyers Up

    Similar to Mako's attack on Cellceutix, The Pump Stopper posted a similarly specious article on December 21, 2015, which targeted Florida-based, MagneGas, a company producing hydrogen-based fuels to replace the use of acetylene.
    The Pump Stopper's opening line: "I believe MagneGas is an imploding paid stock promotion shell of insider enrichment and hype with immediate -92.90% downside risk."
    Like Cellceutix's CEO, Leo Ehrlich, the MagneGas CEO, Ermanno Santilli, immediately fought back, issuing the following statement on December 22, 2015:
    We were never contacted by the author prior to publication of the article, and considering this was posted anonymously, we believe the author, and possible affiliated parties, had a specific agenda in publishing this report. We can only surmise that this was a deliberate attempt to cause harm to the Company and its shareholders. Nevertheless, this is an exciting time in our company and we have been completely transparent, honest and accurate in our public reporting. We will not allow malicious and cowardly attacks like this to go unanswered.
    Two months ago, in mid-February, based on forensic IT work, MagneGas announced it believed it had uncloaked the true identities of The Pump Stopper.
    MagneGas Corporation will not tolerate these kind of false and misleading reports or blog posts from individuals colluding to obtain fraudulent gains off of the backs of our loyal shareholders. These bloggers believe they are anonymous, but what they don't understand is that no matter how hard they try to hide their actions, they leave a long trail of cyber evidence that can easily be obtained when working with the right government law enforcement agencies and forensic investigators. We will continue to work diligently to the greatest extent of the law to pursue those individuals trying to harm our shareholders. In the meantime, we will continue to focus on execution of our strategy to expand the sale of MagneGas2 to marquee customers, who would never even consider our product if it wasn't in their opinion the best on the market.

    Source

    Mako Research Attacks Ocata-And Ocata Gets Bought Out

    The shark (short) attack by Mako on Ocata Therapeutics, a Marlborough-Massachusetts-based company specializing in stem cell therapies for macular degeneration, arrived in two parts.
    The first article was published on August 19, 2015, running under the headline: "Ocata Therapeutics: Insider Enrichment, Failed Science, Long History Of Fraud Ties, 77% Downside."
    Some of its claims:·
    "Ocata's RPE stem cell therapy trials are dubious at best and research indicates are highly likely to cause tumors."
    "The company has accomplished little or nothing in over a decade as a public company except huge dilution and shareholder losses."
    "Throughout its life, Ocata has pursued desperate financings to keep the company afloat as insiders get rich."
    The second article, posted online on September 23, 2015, is full of similar hyperbole and fear-mongering: "Ocata: Dilution Imminent, SEC Investigation Potentially Underway, Office Appears Empty, Price Target $0.00."
    Some of its claims:
    "Ocata continues its pattern of science by press release & destroying shareholder value […]"
    "Past Ocata Therapeutics insiders have been accused of serious securities violations and fraud."
    "A visit to Ocata's office revealed an apparently empty office during business hours. Many calls to the company went unanswered. Is anyone home?" (hmmm… where have we read this line of attack before, about empty offices and unanswered phone calls? Anyone?)
    Well despite Mako's best writerly efforts to tarnish the company via "diatribe," Ocata got the last laugh… as in, laughing all the way to the bank. The company was eventually bought by Astellas Pharmaceuticals for $379 million or $8.50 per share… or an outcome not exactly in line with what Mako, months earlier-a self-described "professional investor and overall good guy" who makes "inferences and deductions through due diligence and analytical processes"-had to say. That Ocata's science was "an unviable pipedream" as conveyed in the first sentence of the first article that Mako wrote: "I believe shares of Ocata are worth nothing and provide extensive detail throughout this report to support that claim."
    (click to enlarge)

    Source

    Hmmm… How's that again?

    Mako Research/The Pump Stopper et al. Have Bigger Worries-The SEC

    The SEC, of late, has turned its gaze to unfair and possibly illegal market manipulation by short sellers, particularly the naked variety. And this, the added attention, regardless whether you're Goldman Sachs doing it to Overstock (NASDAQ:OSTK), or an offshore cabal, as some claim, which likes to target emerging biotechnology stocks, like Cellceutix, or Ocata, due inherent volatility tied to news-driven events. Even a priest-turned-hedge fund guy can get tangled up in the net when it is cast wide. (The role of Dark Pools and High Frequency Trading, further muddling up the market, not to mention the "capture" of regulators, are topics for another day.)
    On November 10, 2015, SEC Chairwoman Mary Jo White gave a 12-minute interview with Bloomberg News during which the topic was discussed at length. Her response to a question about the role of short sellers: "It's a complex sort of landscape, but it is an issue that has our intense attention. Short selling has a legitimate, positive purpose in the marketplace. That's very different, though, than if you manipulate by short selling."
    One wonders how the SEC might view Kerrisdale's Capital's literary takedown of Sage Therapeutics (NASDAQ:SAGE)?
    (click to enlarge)

    Source

    Lawyers for the NYSE Group, along with the National Investor Relations Institute (NIRI), also are chiming in, arguing that there is an unfair asymmetry (a double standard) in how long and short positions get reported. That hedge funds, for example, should be forced to disclose short positions more regularly, more transparently, just like they have to for long positions on Form 13(f)s.
    This petition letter makes for interesting reading.
    (click to enlarge)

    Source

    Mako Research Attacks MediciNova-Too Little Effect

    In the face of such regulatory pressure, a "short squeeze" of a different kind, one might think that the "short and distort" types might be running scared.
    And yet Mako Research, after having gone silent for the better part of the last six months, is back at it.
    On March 3, 2016, Mako posted another hit piece, this time targeting MecidiciNova. Unleashing a familiar-sounding opening line: "I believe MediciNova is a disastrous investment based on its long history of failed science, self-enrichment by insiders, perplexing related party transactions, and significant risk of going to zero […]."
    Again, what you see it what you should expect with Mako's "research"-the same modus operandi-verbal smears, scary words. Though perhaps the shtick is starting to wear thin, word getting out about what a Mako attack really means… nothing of substance, nothing of merit. Upon the Mako piece hitting, MediciNova's stock dropped 28 percent but largely recovered later that day, closing off only 2 percent.
    Shark Stew-A Sign of Things to Come?

    That Mako has resurfaced, showing its fin above water, well, perhaps that wasn't the smart thing to do, given it has at least one Great White, in the form of ex-U.S. Attorney Michael Sullivan, on its tail, and perhaps another, in the form of the SEC's Mary Jo White… Who knows, and no matter how far offshore they may be lurking, but Mako and crew just might be on the SEC's (or other enforcement types) menu, making for some tasty sushi. At least that's what shareholders of companies like Cellceutix, MagneGas, Ocata and MediciNova hope: Mako getting served ("served" being the operative word) what many think it deserves, its "just" desserts the flavor of law-and-order.
    Chomp. Chomp.
    Disclosure: I am/we are long CTIX.

  • freddyaophelps by freddyaophelps Aug 16, 2016 8:46 PM Flag

    Getting Caught Short: Signs Of A Changing Regulatory Environment? 8 comments
    Apr 7, 2016 11:39 AM | about stocks: CTIX
    Summary

    · Legitimate shorting of a stock serves a useful purpose in the market by establishing a more balanced valuation of a company's products and/or potential.
    · That said, the SEC seems to be paying more attention to intentionally manipulative "short and distort" tactics and not just "pump and dump" schemes.
    · Publicly-traded companies that feel they've been unfairly targeted (maligned) are starting to hit back, defending themselves by lawyering up and pursuing legal actions against bad actors.
    · Segments of the financial industry are attempting to level the investment playing field, for example, by requesting equal treatment in reporting disclosures between long and short positions.
    Introduction-Online Market Manipulation in the Regulatory Crosshairs

    Discussed in this article is the added scrutiny being applied by U.S. Securities and Exchange Commission (SEC) towards identifying possible illegal market manipulation by the posting of intentionally false and misleading content via online forums. Last year, the SEC posted on its website an Updated Investor Alert highlighting how "fraudsters" may "attempt to manipulate share prices" in this way.

    Source

    Also detailed below are certain actions that have been taken by targeted companies in order to protect their reputations and business models when attacked by what appear to be dubious "short and distort" schemes. Cases include: Cellceutix (OTCQB:CTIX); MagneGas (NASDAQ:MNGA); Ocata Therapeutics (NASDAQ:OCAT); and MecidiciNova (NASDAQ:MNOV).
    Whether long or short a stock, bull or bear, and regardless of industry or trading platform (exchange), one might be advised to keep tabs on how this changing regulatory situation continues to plays out.
    If not, arguably, one might have an investment blind spot as big as a sunspot.
    Taking the Long View of a Company-Fundamentally Optimistic

    It's fair to say many long-term investors, beyond those purely (and admirably) interested in a company's social or environmental impact, invest in a company because they want to see their stake appreciate based on the fundamentals. That the company is viable; that management is capable; that the products and services in development or already out in the marketplace are good ones-at least on par with, and maybe even can outperform, perhaps displace altogether, a majority of the competition. Sometimes one finds a preferred combination: a company that's contributing to the betterment of society in some way, and holds the potential to add more than a few shiny pennies to the piggy bank.
    Going Short in a Stock-Nakedly Pessimistic

    But as most investors know only too well, others lurk out there with a different set of motives and tactics toward realizing financial gains-yes, the people on other side of the equation. The infamous Shorts, or those wanting, well, betting, that a stock will drop. And the lower the price goes, the better for them but not for you, that is if you're long the stock. (Day traders, moving in and out of positions, are a different beast altogether.) And not that there is anything wrong with short-selling a stock, in most instances. Indeed, one can be both short and long a stock, often an effective hedging strategy. Where things tend to get tricky, and potentially sticky in a legal sense, is when the strategies deployed by those taking short positions can be called into question; to be more specific, when they may fail to comply with securities laws by engaging in intentional, and thus illegal, market manipulation.
    Mako Research Attacks Cellceutix-And Cellceutix Bites Back

    We recently wrote about the difficulties-in lost market capitalization, in lost shareholder confidence- Cellceutix faced following an August 2015 "hit piece" penned by Mako Research, whose public profile perhaps best says it all: "You should assume that Mako Research stands to profit in the event the issuer's stock declines." As noted in this earlier article, while Cellceutix's primary concern is to get the follow-on class action lawsuit filed by the Rosen Law firm tossed (exactly what happened in another Rosen action, in 2012, Wolfe et al v. AspenBio Pharma, Inc. et al., where the judge upheld an earlier district ruling, noting that stacking "inference upon inference" is insufficient legal grounds to stand on), the company has signaled it may choose to go after Mako for damages.
    (click to enlarge)

    Source

    Cellceutix CEO Leo Ehrlich said: "Shorting stocks is a legitimate way of keeping checks and balances in the stock market. But what happened here was grossly illegal. ..." He later remarked: "What happened to Cellceutix can happen to any public company […]. We are taking a stand on this for our company and for the biotech/pharmaceutical industry in general […]." Attorney Michael Sullivan, representing Cellceutix, when asked if Cellceutix management would be satisfied with Rosen withdrawing the lawsuit, had this to say: "I don't think this company will be satisfied with just that." Sullivan, a few weeks later, in a letter sent to The Rosen Law Firm on Cellceutix's behalf, further hinted it had uncovered information ("communication" and "intelligence") that showed "a potential conspiracy to commit securities manipulation," and that it would be provided "to regulatory and enforcement levels as both the state and federal level."
    The Pump Stopper Attacks MagneGas-And MagneGas Lawyers Up

    Similar to Mako's attack on Cellceutix, The Pump Stopper posted a similarly specious article on December 21, 2015, which targeted Florida-based, MagneGas, a company producing hydrogen-based fuels to replace the use of acetylene.
    The Pump Stopper's opening line: "I believe MagneGas is an imploding paid stock promotion shell of insider enrichment and hype with immediate -92.90% downside risk."
    Like Cellceutix's CEO, Leo Ehrlich, the MagneGas CEO, Ermanno Santilli, immediately fought back, issuing the following statement on December 22, 2015:
    We were never contacted by the author prior to publication of the article, and considering this was posted anonymously, we believe the author, and possible affiliated parties, had a specific agenda in publishing this report. We can only surmise that this was a deliberate attempt to cause harm to the Company and its shareholders. Nevertheless, this is an exciting time in our company and we have been completely transparent, honest and accurate in our public reporting. We will not allow malicious and cowardly attacks like this to go unanswered.
    Two months ago, in mid-February, based on forensic IT work, MagneGas announced it believed it had uncloaked the true identities of The Pump Stopper.
    MagneGas Corporation will not tolerate these kind of false and misleading reports or blog posts from individuals colluding to obtain fraudulent gains off of the backs of our loyal shareholders. These bloggers believe they are anonymous, but what they don't understand is that no matter how hard they try to hide their actions, they leave a long trail of cyber evidence that can easily be obtained when working with the right government law enforcement agencies and forensic investigators. We will continue to work diligently to the greatest extent of the law to pursue those individuals trying to harm our shareholders. In the meantime, we will continue to focus on execution of our strategy to expand the sale of MagneGas2 to marquee customers, who would never even consider our product if it wasn't in their opinion the best on the market.

    Source

    Mako Research Attacks Ocata-And Ocata Gets Bought Out

    The shark (short) attack by Mako on Ocata Therapeutics, a Marlborough-Massachusetts-based company specializing in stem cell therapies for macular degeneration, arrived in two parts.
    The first article was published on August 19, 2015, running under the headline: "Ocata Therapeutics: Insider Enrichment, Failed Science, Long History Of Fraud Ties, 77% Downside."
    Some of its claims:·
    "Ocata's RPE stem cell therapy trials are dubious at best and research indicates are highly likely to cause tumors."
    "The company has accomplished little or nothing in over a decade as a public company except huge dilution and shareholder losses."
    "Throughout its life, Ocata has pursued desperate financings to keep the company afloat as insiders get rich."
    The second article, posted online on September 23, 2015, is full of similar hyperbole and fear-mongering: "Ocata: Dilution Imminent, SEC Investigation Potentially Underway, Office Appears Empty, Price Target $0.00."
    Some of its claims:
    "Ocata continues its pattern of science by press release & destroying shareholder value […]"
    "Past Ocata Therapeutics insiders have been accused of serious securities violations and fraud."
    "A visit to Ocata's office revealed an apparently empty office during business hours. Many calls to the company went unanswered. Is anyone home?" (hmmm… where have we read this line of attack before, about empty offices and unanswered phone calls? Anyone?)
    Well despite Mako's best writerly efforts to tarnish the company via "diatribe," Ocata got the last laugh… as in, laughing all the way to the bank. The company was eventually bought by Astellas Pharmaceuticals for $379 million or $8.50 per share… or an outcome not exactly in line with what Mako, months earlier-a self-described "professional investor and overall good guy" who makes "inferences and deductions through due diligence and analytical processes"-had to say. That Ocata's science was "an unviable pipedream" as conveyed in the first sentence of the first article that Mako wrote: "I believe shares of Ocata are worth nothing and provide extensive detail throughout this report to support that claim."
    (click to enlarge)

    Source

    Hmmm… How's that again?

    Mako Research/The Pump Stopper et al. Have Bigger Worries-The SEC

    The SEC, of late, has turned its gaze to unfair and possibly illegal market manipulation by short sellers, particularly the naked variety. And this, the added attention, regardless whether you're Goldman Sachs doing it to Overstock (NASDAQ:OSTK), or an offshore cabal, as some claim, which likes to target emerging biotechnology stocks, like Cellceutix, or Ocata, due inherent volatility tied to news-driven events. Even a priest-turned-hedge fund guy can get tangled up in the net when it is cast wide. (The role of Dark Pools and High Frequency Trading, further muddling up the market, not to mention the "capture" of regulators, are topics for another day.)
    On November 10, 2015, SEC Chairwoman Mary Jo White gave a 12-minute interview with Bloomberg News during which the topic was discussed at length. Her response to a question about the role of short sellers: "It's a complex sort of landscape, but it is an issue that has our intense attention. Short selling has a legitimate, positive purpose in the marketplace. That's very different, though, than if you manipulate by short selling."
    One wonders how the SEC might view Kerrisdale's Capital's literary takedown of Sage Therapeutics (NASDAQ:SAGE)?
    (click to enlarge)

    Source

    Lawyers for the NYSE Group, along with the National Investor Relations Institute (NIRI), also are chiming in, arguing that there is an unfair asymmetry (a double standard) in how long and short positions get reported. That hedge funds, for example, should be forced to disclose short positions more regularly, more transparently, just like they have to for long positions on Form 13(f)s.
    This petition letter makes for interesting reading.
    (click to enlarge)

    Source

    Mako Research Attacks MediciNova-Too Little Effect

    In the face of such regulatory pressure, a "short squeeze" of a different kind, one might think that the "short and distort" types might be running scared.
    And yet Mako Research, after having gone silent for the better part of the last six months, is back at it.
    On March 3, 2016, Mako posted another hit piece, this time targeting MecidiciNova. Unleashing a familiar-sounding opening line: "I believe MediciNova is a disastrous investment based on its long history of failed science, self-enrichment by insiders, perplexing related party transactions, and significant risk of going to zero […]."
    Again, what you see it what you should expect with Mako's "research"-the same modus operandi-verbal smears, scary words. Though perhaps the shtick is starting to wear thin, word getting out about what a Mako attack really means… nothing of substance, nothing of merit. Upon the Mako piece hitting, MediciNova's stock dropped 28 percent but largely recovered later that day, closing off only 2 percent.
    Shark Stew-A Sign of Things to Come?

    That Mako has resurfaced, showing its fin above water, well, perhaps that wasn't the smart thing to do, given it has at least one Great White, in the form of ex-U.S. Attorney Michael Sullivan, on its tail, and perhaps another, in the form of the SEC's Mary Jo White… Who knows, and no matter how far offshore they may be lurking, but Mako and crew just might be on the SEC's (or other enforcement types) menu, making for some tasty sushi. At least that's what shareholders of companies like Cellceutix, MagneGas, Ocata and MediciNova hope: Mako getting served ("served" being the operative word) what many think it deserves, its "just" desserts the flavor of law-and-order.
    Chomp. Chomp.
    Disclosure: I am/we are long CTIX.
    Stocks: CTIX

  • Reply to

    Sullivan seeks sanctions

    by trustspecialist Aug 16, 2016 5:41 PM
    freddyaophelps freddyaophelps Aug 16, 2016 6:41 PM Flag

    This line from Sullivan's letter to Rosen makes one wonder what intel Sullivan has:

    "we anticipate providing this communication, as well as intelligence that we have uncovered showing a potential conspiracy to commit securities manipulation, to regulatory and enforcement officials at both the state and federal level."

    Don't forget the claim by Magnegas that they have uncovered the "identities" of Pump Stopper. Tu compound the short and distorts problems they will now have the SEC scrutinizing the trading in STEM. Bad days for the hot desking clan.

  • freddyaophelps freddyaophelps Aug 16, 2016 6:15 PM Flag

    Oh what a feeling...

    Smiley face

  • Reply to

    MF now recruiting 75 locations

    by mangymutt Aug 16, 2016 5:09 PM
    freddyaophelps freddyaophelps Aug 16, 2016 6:10 PM Flag

    Good news mangy, steady progress.

  • freddyaophelps freddyaophelps Aug 16, 2016 6:08 PM Flag

    They're walking it back down after hours.