Thanks for your insight as a cancer victim/survivor. I hope you recover fully from this terrible condition. I need to start placing filters to read anything of value on this board. Amidst the name calling and subjectivity, there is a lot of valuable information from some long timers here. Keep it coming....
Oh and why would a billionaire go around tooting his horn that he has $100K in a start up? I don't know how much he has but I am trying to make a point here. The whole company is only valued at $900K! Now, if his effort is rewarded with the BCI device becoming the next big thing or even just a money making fad, there will be reports on how smart he was to catch it in its infancy and make a quick killing - like we don't know that already. If it is a bust, he moves on with hardly a notice. Also, why bring awareness to others who might just swallow the company for a few millions by opening your mouth, especially is you are a big kahuna like Joe? It was in the company's interest to let its shareholders know about Joe, to bring legitimacy to the company. Don't be too worried about Joe (I am telling others as I know what your position is) - he usually does what he says and we will soon see whether it bears fruit or not.
I paid $9500 for 10MM shares. If that means I am mega rich, so be it. BTW, I have more than 20 x that in another stock. Anyway, coming back to Mr. Abrams. It is quite simple to check that fact online. Just Google "joe abrams mind solutions". Then go to the Bloomberg Businessweek link and look at the full profile of said Joseph W. Abrams. Of his 17 worldwide affiliations, here is one you might be interested in:
"He has been a Member of Board of Advisors at Mind Solutions, Inc. since May 15, 2014....."
Simple. Welcome to the age of the internet....
Reverse splitting to up list is considered a positive step in the eyes of investors. It only has a negative connotation if it is to keep a listing or to dilute the shareholders to oblivion. Institutions will join as shareholders and the company can raise money much more easily with no toxic side effects. It will probably be a 1:25 RS. Looking forward to it later this year.
Thanks for the wishes. Got my other 5MM at 0.0009 just now. Now, time to wait for the next cycle of events. Last one took it to 0.008. I think the next one will go to at least half of that (0.004) and up from there if they are able to get decent sales. It hasn't been dis-proven that Joe Abrams is not on their BOD or that they don't have enough funds to take this to market. They already mentioned no reverse split or dilution before commercialization.
The Company's total liabilities and shareholders' equity at September 30, 2014 is $33.5 million, the same as at June 30, 2014.
The Company's consolidated cash flow used in operations for the quarter ended September 30, 2014 was $2.8 million, as compared to cash used in operations of $4.7 million in Q1, Fiscal 2014. The average monthly burn rate, based on cash used in operations, was approximately $0.9 million, and approximately $0.6 million before changes in non-cash working capital. This compares to $1.6 million and $1.3 million respectively for the same quarter in Fiscal 2014.
Administration expenses for continuing operations were $1.2 million in the first quarter of Fiscal 2015, as compared to $1.3 million in the first quarter of Fiscal 2014. The decrease reflects the Company's cost reduction efforts of about $0.7 million that started in Fiscal 2014, offset by reclassification of certain administrative expenses previously directed to support other operations in the area of research that have now been discontinued. Property management expenses were $0.4 million in Q1, Fiscal 2015, as compared to nil in Q1, Fiscal 2014. Marketing and selling expenses were nil in the first quarter of Fiscal 2015, as compared to $0.2 million in Q1, Fiscal 2014.
"Shareholders will note a substantial drop in financial expenses in this quarter," said Mr. Brian Ford, Chief Financial Officer of Bioniche. "Such expenses reduced by 85% - from $2.5 million in Q1, Fiscal 2014 to $0.4 million in Q1, Fiscal 2015. Proceeds from the sale of the Company's Animal Health business unit in April, 2014 allowed the Company to repay $50.3 million of high-cost secured and unsecured debt by the end of Fiscal 2014, resulting in significantly reduced financial expenses in the first quarter of Fiscal 2015."
Patients with high risk recurrences after bacillus Calmette-Guérin failure have limited options. We performed an open label study to evaluate the efficacy and safety of intravesical MCNA in this setting.
Materials and Methods
Patients were treated intravesically with 8 mg MCNA weekly for 6 weeks followed by 3 weekly instillations at months 3, 6, 12, 18 and 24. Cystoscopy and cytology were performed every 3 months for 2 years with mandatory biopsy at 6 months and as clinically indicated thereafter. The primary efficacy end point was the disease-free survival rate at 1 year.
A total of 129 patients were enrolled in study, including 91 with carcinoma in situ with or without papillary disease and 38 with papillary only tumors. Most patients had high risk disease. A total of 107 cases were bacillus Calmette-Guérin refractory and 2 or more prior bacillus Calmette-Guérin induction courses had been given in 68. Median followup in all patients was 34.7 months. The overall disease-free survival rate was 25.0% at 1 year and 19.0% at 2 years. In patients with papillary only tumors the disease-free survival rate was 35.1% and 32.2% at 1 and 2 years, respectively. The median disease-free duration in the 30 responders was 32.7 months. The progression-free survival rate was 87.3%, 79.8% and 77.7% at 1, 2 and 3 years, respectively, with a progression event in 28 patients. MCNA was well tolerated and few adverse events led to treatment discontinuation.
Intravesical MCNA achieved significant activity in patients at high risk with nonmuscle invasive bladder cancer in whom bacillus Calmette-Guérin treatment failed, especially those with papillary only tumors and those with bacillus Calmette-Guérin relapse. A durable response was seen, particularly in patients with a response at 1 year. MCNA offers an option for patients who are not candidates for or who refuse cystectomy.
jess, you are within your rights to share your views like anyone else here. Why do you think this company is a scam? Could you provide any evidence? I'd like to hear that side although I am long. Want to make an informed decision before I invest a lot more. It looks like you are simply #$%$ with the spamming and not the company per se? On the other hand, there is a lot of public information that this company has a promising treatment in Ph III and is getting ready for FDA submission. They also have not diluted shareholders to oblivion like so many other OTC stocks.
As promised, I am starting to pick up at 0.001. Put in a 5MM share order today and it filled in small lots of 100K each time, before the ASK moved up. Got 3.6MM shares so far. Will get 10MM shares to bring my average down to 0.0014. It should test 0.003-4 once the devices go on sale. Also will be nice to test it out if they actually do follow through on their promise to gift these to their shareholders. I am not optimistic about wild sales volumes but it could be a fad for a year since it is so different from anything that is out there. The key is to have some exciting games. Nobody wants to be exploding a dumpster with their mind - LOL!
I am assuming that means short more? Please be my guest. And get your buddies to do so as well. More the merrier - LOL!
I don't think so. It has been a controlled rise, which does not portray a significant short covering period. In fact, the gains for 2015 were wiped out yesterday and there might have been some additional shorting. I also think NTC bought before market close . If NTC takes its total position to around 16MM shares (+/- 1 MM), then my theory holds water. I am not concerned with the gyrations anymore since we have major support from a billionaire, healthcare hedge fund. It is just a matter of when and not if, that we get a short squeeze to $10 this year.
Yes, I noticed that in the Nov news release. The recent increase in volume is nice to see but I am not sure if it is the start of the slow run to the BLA submission or the result of the recent message board spamming (through which I came on board!). There seems to be some decent amount of shares for sale at the 20 cent level as I got my 50K shares almost immediately yesterday. I was expecting a 2 day fill period with such a low daily volume. It could breakout suddenly one fine day once the supply is gone. I will keep nibbling once every week to build a nice position here by March...
Thanks. Maybe this will be the next big Canadian company to take the US market by storm (like Blackberry and Nortel did during the dotcom boom). OK, not to that level, but a 20-40 bagger in 1-2 years is nothing to sneeze at. I'll start researching more and providing my own DD as I increase my position here.
2 MM shares were covered over the last 2 weeks of 2014. Those were the shrewd fellas. But still 34.5MM shares shorted.
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
12/31/2014 34,671,454 2,716,740 12.762154
12/15/2014 36,575,404 1,781,566 20.529918
Let's look at the float situation. Float is 87MM shares. If institutions are holding ~70MM shares (from 9/30/14) and the insiders are holding 11MM shares (from Yahoo Finance), that leaves only 6MM shares to be traded on the market. If NTC removed 2.5MM shares from that pool since 9/30/14, that leaves only 3.5MM shares available for the shorts to cover on any particular trading day. I think that is NTC's target - to buy out the remaining 3.5MM shares. With the institutions locked and loaded, the shorts will have nowhere to turn when the good news breaks (M&A, partnership, great earnings etc.) and will be begging for mercy as the MMs release the ASK to wherever the institutions want it to go before they sell.
12,282,100+ 217,900 = 12,500,000 and not 37,039,570. It's a clear mistake. However, that number will be increasing this week as well.
I usually don't follow up on spams on other boards but thanks to whomever. Read the seeking alpha article, the earning reports, management actions and feel safe enough to start with a 50K share purchase today. Will add as I do more DD over the next month.
pmt, though I didn't agree on the buyout scenario before, the non-stop buying by NTC is pointing in that direction. I think they are trying to exhaust the free float and once it is all locked up, start their activism - that could include ousting the CEO and officially putting the company up for sale. Quite plausible scenario. I doubt there is already an offer on the table because the price would have already doubled by now on a leak.
Go to trade station, find whatever shares you can find and short more of this baby. Or naked short if you can't find any. It is going up for no reason. The long term downtrend has not broken yet and your short from 30 (perfect timing guys!) is well in the money. . Please hang around till Christmas this year too. You have some amazing gifts waiting for you.
NTC also owns 2MM shares of TEVA (almost $120MM in value). Perhaps they are trying to "consolidate" their portfolio, if you know what I mean. Looks like they are buying shares today as well with over 200K shares traded in 15 min. I hope the shorts overstay their welcome. I really do :). They are our friends. We should encourage them to short more through trade station - LOL!