Let's hope there's no delay in distribution in Sept in France and Spain and that XXII let's the investment community know about it, including the extent of the distribution and updates as appropriate.
this current message can be a starting point; we'll see if Ozark has any interest in posting here. Hope so.
Now if we had some news about what is triggering this upward move in the share price, we could share that info. Keep searching for clues and post if you find something of interest. :)
Simply type in the following and you should be back into the prior Message Board system. This is my first attempt at posting on the old system, as of today, 15 August 2016
Bridge: you raise a very interesting question here, whether or not Arun was fired by Rick Mengat (et al)? If so, is there an internal problem with management, perhaps treating its employees as disposable? The fluorescent technology, the Spy system is clearly a superior and valuable contribution to the medical field, especially for heart surgery. So what is their problem?
The information probably did not meet their criteria or somehow violated Yahoo policy. For the full post, see Zedster on today's postings, 29 June, on Investorshub. It is a synopsis and well worth the read.
management, instead asserting he merely was relaying information that China National Tobacco wanted someone else in charge of 22nd Century and offered suggestions on how to allay CNTC’s fears.
page 127 Henry Sicignano III was called to the stand.
To dispute the irreparable harm claim of Crede without the preliminary injunction Henry Sicignano III pointed out its historical ability to raise capital when necessary based on the strength of its assets. He stated believed by the end of this year or early next,
“We believe we'll be the first company in the world authorized by FDA to actually market our cigarettes as a modified-risk tobacco product,”
“We have a research license with British American tobacco that extends through October 2017. Any time before October 2017, BAT could pay us an additional $7 million”
“We believe the patents are worth more than $200 million,”
“We are in a due diligence phase of discussions with four pharma companies now exploring the rights to -- well, to essentially fund our phase three clinical trial and to make it a prescription drug,”
When asked about the options for financing the business after October of 2016, Mr. Henry Sicignano III responded:
THE WITNESS: “There are several. One, going on the pharmaceutical proposals, we're asking for $30 million. Approximately 24-and-a-half million would be for the phase three trials. About 5-and-a-half million would be for GNA expenses. So if we were to sign a deal in the next three months, that precludes a financing. BAT could pay us that $7 million at any point. It could be this week, this month, next month, anytime in the next between now and October 2017
THE COURT: And you're expecting that at some point between today and October of 2017 they will?
THE WITNESS: Yes.
Zedster Wednesday, 06/29/16 11:12:33 AM
Post # of 31770
Court rejected Crede’s motion for preliminary injunctive relief and preliminary declarative relief for 22nd Century to deliver 2,077,555 shares to Crede so the shares could be sold and the proceeds placed in escrow while suit between Crede and 22nd Century was resolved.
The Court went further and stated it believed “ I don't think I can say on this record that the plaintiff has demonstrated a likelihood of success on the merits,” suggesting the case against 22nd Century was on shaky grounds.
In his testimony, CEO Henry Sicignano III pointed up multiple value creators for the company including:
Modified risk approval by year end or early 2017.
Payments from BAT for the research license
Patents worth over $200 million.
Discussions with four strategic pharma companies to fund phase three clinical trials.
Seven or eight figure upfront payment from an Indian customer for purchase of raw tobacco leaf.
Crede v 22nd Century
In March 22nd Century repudiated the exchange right of the Tranche 1A warrants that would have allowed Crede to exchange its Tranche 1A warrants for a maximum of 5 million shares. 22nd Century maintains Crede violated an activities restriction provision of the securities purchase agreement between Crede and 22nd Century.
Crede filed frivolous suit against XXII on April 26, 2016 alleging:
Breach of Contract- Failure to Pursue China Joint Venture
Breach of Contract- Repudiation of SPA (Share purchase agreement)
Breach of Contract- Failure to Honor Tranche 1A Warrant Exchange Right
Tortious Interference with Contract
On May 19th Crede filed a “motion for preliminary injunctive relief and preliminary declarative relief directing defendant 22nd Century Group, Inc. (“22nd Century”) to deliver immediately 2,077,555 shares (which happened to be the EXACT short interest at that time…hmmm) of 22nd Century common stock to Crede”
A hearing on this injunction
Why would someone post at 10:36 this a.m. saying the share price was incomprehensibly down when in fact it had been up for the past half hour? Investors don't sweat the small stuff, minute by minute, but look to the big picture and post when it helps others.
FWIW, About two weeks back in another court hearing, Judge Katherine Polk Failla, who is hearing this case of Mimedx vs. Osiris, came across as a strong listener who is even handed and sharp. I saw those qualities in an earlier court case with a biomedical company attacked by a hedge fund. I think she was fair to both sides and saw right through the obfuscating tactics of the frivolous plaintiff.
cmtm, read the Vincenzo postings for the last 2 days; you will see references to the court hearing in which it documents that Peizer bad mouthed the company to the universe, according to the CEO of XXII. Read the 22 June posting re Peizer court hearing. It is spelled out there in 170 pages of court documentation.
The 'reduced alcohol use' article is published in a reputable journal (Alcoholism) and used the same data as was published in the New England Journal of Medicine last year. So very solid data. One peculiarity is the finding re the reduced alcohol use article was published in March of 2016. Was there an embargo on publicizing it until 3 months later (June)? At least XXII's public relations department is attempting to spread the good news, including re today's second article and odd type of publicity published today re XXII being among prominent smoking reduction firms.
Your question Pender is exactly one of the points brought out by the defense attny, viz Peizer's argument was self-contradictory and makes absolutely no sense. By his own behavior, holding on to his 5.8 million shares and, as Peizer himself said, selling none of them, it is clear he held on because he wants to take over the company and, as Henry testified Peizer told him, Peizer wanted to become the chair of XXII.
The recent court doc reports Terren Peizer affirmed to the XXII CEO that he, TP, could decrease the share price of XXII stock at his will. He also told the CEO that soon an article would appear saying the company was on the brink of financial collapse. And guess what? Google today reported that for the first half of June the shorts increased their position by 200,000 shares:
"22nd Century Group Inc (XXII) Short Interest Up 6.0% in June
Posted by Scott Moore on Jun 24th, 2016
22nd Century Group logo 22nd Century Group Inc (NYSE:XXII) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,202,329 shares, a growth of 6.0% from the May 31st total of 2,077,910 shares. Based on an average trading volume of 313,320 shares, the days-to-cover ratio is presently 7.0 days. Approximately 4.0% of the shares of the company are short sold."
How did he know that? Does the SEC have any interest in nailing predators? Would he have to pay for such an article written by a short? Or is this part of a long standing agreement with hedge funds and paid shills who have no journalistic integrity, but who work together like alligators preying on children?
It had previously been publicly disclosed that XXII had been meeting with potential clients around the world for the sale and/or distribution of their tobacco products. During legal testimony in the 14 June hearing, in response to the false accusation XXII was on the brink of financial insolvency, Henry noted as a positive, that in two weeks he would be heading to India to meet with four large Indian tobacco companies, to explore the possible bulk sale of XXII proprietary tobacco. If such discussions were successful it could result in a 7 or 8 figure transaction, i.e. several million or 10+ million in sales.
1, FWIW, the JV partner agreed not to interfere with the workings of the company such as by contacting the members of the board. Yet, that is exactly what the JV partner did, repeatedly and even after when warned that he was thereby violating the terms of the agreement. He told the Chair to resign and advocated for his being appointed to that position... or else no China deal would ever take place.
2. Read #1
3. The judge asked that question, No knowledgeable corporation would ever attempt to work with Terren Peizer, IMO.
When seemingly caught having violated the terms of an agreement, what defense does TP adopt (TP is questioned about whether he shorted or encouraged others to short the stock; see p 105 to make your own judgment):
Q. Just so we're clear, under oath, you've never made any statements along those lines, suggesting to other shareholders --
A. (TP cuts off the questioner by interrupting) Little --
THE COURT: Let him ask his question.
Q. Just so we're clear, in the last six months or so
you have not made any statements to any other shareholders,
investment advisers, investment bankers that the stock should
be -- people should get out of the stock because the prices were
going down,yes or no?
A. I don't recall.
Q. Now you don't recall?
A. No, because . . .
Here's a sample of the obfuscation by TP, who is under oath, but lives in an alternate universe in which truth has no objective meaning except for subjective self-enhancement.and personal gain. See pp 90-91:
SOUTHERN DISTRICT REPORTERS, P.C.
(TP responds to the accusation he violated the terms of their agreement)
A. That was not my understanding.
Q. That's what it says, though, isn't it, sir?
A. I don't know. I don't think I'm qualified to ans
Q. That's what it says?
A. But I -- okay.
THE COURT: So the document says what it says. Thank
you. Please move on.
Q. 22nd Century in response to your e-mails, there were
communications with you asking you to stop such con
there, sir? You had conversations with Mr. Sicigna
you can't be doing this, or words to that effect, correct?
A. I don't understand the question.
Q. After you wrote these e-mails demanding that the
step down, demanding that there be changes in the board, you
had conversations with Mr. Sicignano, didn't you?
A. I might have, probably had conversations with Henry, but Idon't know what you're asking.
Q. Did Mr. Sicignano in those conversations to you tell you
that you can't be engaged in these activities?
A. No. Absolutely to the contrary.
A. Oh, contrary. We always talked about getting the
China JV on trend.
Q. That's not what I'm asking you about, sir. In the
conversations with --
A. No. He never -- I said, no, he never told . . .l
(it is a crime that XXII has to deal with what appears to be
unethical individuals; I wonder if TP had a painful childhood?)