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Sony Corporation Message Board

repo_man_one 10 posts  |  Last Activity: Jul 8, 2016 2:22 PM Member since: Sep 6, 2012
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  • After listening to the presentation yesterday, it has become clear that the dilution being created by the convertible note is a significant problem and cannot sustain itself as is.

    The current stock price is obviously being driven by expectations of future dilution driven by the existing terms of the convertible note, rather than scientific prospects.

    Yesterday, Dr. Mullan said that the monthly disbursements are being negotiated (or something to that effect), implying to me that monthly disbursements from the convertible note may have stopped until a new note agreement is reached.

    Given that Dr Mullan is currently in California this week meeting with potential new investors, I think there are couple possible outcomes.

    1) New note terms are negotiated that significantly reduces the dilution effect going forward.
    2) Dr Mullan finds new alternative financing that effectively replaces the working capital that the convertible note was intended to supply.

    Hopefully, if either option 1 or option 2 comes to fruition, Maxim will no longer be the sole placement agent after their 1 year contract expires.

  • The naked short selling in this stock is beyond belief.
    It is so obvious that a massive amount of counterfeited shares are being passed back and forth every day, constantly putting downward pressure on the stock, between a few unscrupulous Market Makers (and perhaps others in the background).

    For the past several days, there is all kinds of FUD and speculation about what the actual (legitimate) number of outstanding shares is.

    100 Million?
    150 Million?
    200 Million?

    Whatever it is, when you add in the illegitimate naked short shares, the volume is very large as evidenced by the number of shares being passed back and forth the past several days.

    If the CEO can manage to find alternative capital, as discussed in the May 5th Press release (“we are exploring a variety of capital options that we believe are potentially available to us”), then the unscrupulous Market Makers passing all of those illegitimate counterfeit shares back and forth may find themselves in a very uncomfortable position.

    It will be interesting to see if any new capital raise news comes out the upcoming conferences next week.

  • Reply to

    Is today the day they take us down?

    by arthd_00 Jun 2, 2016 12:21 PM
    repo_man_one repo_man_one Jun 2, 2016 12:47 PM Flag

    As many have noted, Maxim is constantly selling for the past few weeks.
    I think the expiration of their contract will be a significant event.
    My take is that Maxim (and others behind them) is trying to pressure Rock Creek into doing something.

  • Reply to

    My take on the Convertible Note

    by repo_man_one Jun 7, 2016 2:18 PM
    repo_man_one repo_man_one Jun 8, 2016 10:35 AM Flag

    Clearly, some quantity of shares are being converted due to the defective terms of the convertible note but WHO helped to create those defective terms? Maxim was the "managing underwriter" weren't they? Was Maxim involved in the creation of those terms? Was Maxim acting in good faith trying to help their client Rock Creek raise capital? Does Maxim benefit from the large trading volume that has been created due to these defective terms? I don't know the answer to these questions, but do you since you are maintaining "it isn't Maxim's fault"?

    And how many shares has Maxim been instructed by the company to sell and when were those instructions given?
    Does that align at all with the number of shares being traded?
    Does it align with 50M, 40M, 30M share trade days?
    Does it align with the actual shares outstanding?

    I don't know the answers, but I think you don't know either, do you?

  • repo_man_one by repo_man_one Jun 13, 2016 11:54 AM Flag

    of being Lead Managing Underwriter?
    I hope so

  • Reply to

    Maxim Contract set to Expire

    by repo_man_one Jun 2, 2016 11:28 AM
    repo_man_one repo_man_one Jun 2, 2016 5:08 PM Flag

    What does that have to do with Maxims contract set to expire?
    It's right there in the 10K if you want to go read it.

  • Reply to

    MAXM contract appears to still be going

    by arabiansprings Jun 20, 2016 9:42 AM
    repo_man_one repo_man_one Jun 20, 2016 10:04 AM Flag

    My understanding is the Maxim 1 year contract was related to Lead Managing Underwriter, book runner, and other things. It does not mean Maxim will stop being involved in trading. The contact expiration means RCPI would be free to seek other investment bank and financing options.

  • Reply to

    Blatant In Your Face Manipulation

    by repo_man_one Jun 3, 2016 1:07 PM
    repo_man_one repo_man_one Jun 3, 2016 2:44 PM Flag

    So genius, you say they issued these shares.
    How many shares would that be?
    What is the actual legitimate number of shares outstanding?

  • repo_man_one repo_man_one Jul 8, 2016 2:22 PM Flag

    Another way to look at this is if the $500K had been paid in shares using yesterday's closing price of .0117, that would have equated to 42.7M shares vs 16.8M shares.

    Since the 170M shares outstanding today (after this deal) includes the 16.8M shares, this means before yesterday there was approximately 153M shares outstanding.

    If the $500K had been paid using yesterdays closing share price, then the new share count today would have been about 196M shares instead of about 170M.

  • Reply to

    Here's an interesting story for the regulators

    by abi_lgm_2007 Jun 24, 2016 3:02 PM
    repo_man_one repo_man_one Jun 24, 2016 3:40 PM Flag

    The more stock naked shorted, the more they need to churn it to hide those shares from becoming fails to deliver.

33.25+0.13(+0.39%)Aug 24 4:02 PMEDT