Under "Legal Proceedings" there was the word "none." It is a required sections where an explanation belongs. I've been consistent in indicating that Leo is incompetent and that the stock price will go much higher if he were to step down and competent management could step in and run the organization with a real, experienced and independent Board. I've been writing the foregoing over and over in many different ways. But the message doesn't sink in.
My comment had to do with the fact that the place to say the lawsuit is meritless is in the SEC filing. Yet Leo indicated there are no legal proceedings pending. That is fraudulent. That sort of incompetence leads to more lawsuits, with merit or without (although we're not judges to pass on whether a lawsuit has merit or not).
So while we can evaluate the evidence in a particular suit and form an opinion, that opinion has no bearing on the outcome. But a lawsuit is material and Leo is under an obligation to disclose them in SEC filings. He failed to do so and that is illegal and is why, as an investor, I don't trust him.
I think I found a job for you Lee. Everyone is good a something and it's just a matter of figuring out what it is for each of us. So Lee I think you're new entrepreneurial role is to open up a website called "Excuses Unlimited." You can charge for making excuses for all of the incompetent people in the world, like Leo. You're post above is absurd because there were multiple press releases about the lawsuits from CTIX and shareholder letters, well before the 10K was filed. But it delusional postings floats your boat, then so be it. Might as well earn a living by making excuses.
What law suit? According to the 10K that was just filed there are no legal proceedings. Do you mean to say the SEC filing was fraudulent?
The 10K and proxy that just came are shocking reads. No matter how much potential the three drugs MIGHT have, we can count on Leo to F it up. Here are some examples:
1. There was a July 2015 end of phase 2 meeting with the FDA that was hyped in press releases. But the 10K mentions (not the PRs) that CTIX had 60 days to submit a pediatric study plan. Where was it. It should have been submitted two months ago.
2. There have been many hyped up press releases about those bad lawyers and Mako in cahoots. OK, I'm not going to defend the lawyers or Mako as I thought the report was bogus and posted why. But then why on page 35 for "Legal Proceedings" does it state "none?"
3. Leo is not an independent director. But his employment contract expired 11 months ago. This shows poor management and a bush league organization.
4. Lets look at Dr. Spektor, who is allegedly on the Board for his "broad industry exposure?" Yet his bio shows no industry experience.
Let's look at the Audit Committee of the Board. Where do the two docs have accounting experience? Where does the engineer Tobin have any accounting experience. No wonder this stock remains on the pinks, Leo doesn't have the Board to get off the pinks. He lied about his efforts or he's too ignorant to know he didn't fulfill basic Board requirements.
The 10K makes me ill that this kind of fraudulent company can continue to exist. But it will not exist for much longer unless Leo brings in some money or a partner. But potential partners do due diligence and that's why there's no discussion regarding potential partners in the 10K because Leo knows he runs a fraudulent company. So while the patent life of the three drug assets continue to tick away, Leo plays the fiddle while CTIX burns.
Jealous of Leo??? Seriously?? You smoking something legal in my state? Look at today's press release. Who starts sentences with "To wit?" Does Leo have elongated cellulosic material up his posterior? Despite all of the arm-flapping hype and hyperbole of the press release, nothing has changed. CTIX still needs a partner and needs to secure boat-loads of money to move the assets along the clinical trial process. We all know the Mako hit piece on CTIX was so absurd it did not pass the red-face test. Get over it Leo. Move on and do your job.
No these wounds were self-inflicted by Leo. Price is low because CTIX doesn't have the financial resources to further develop the drugs. And there's no partner.
And this is what I've been posting about for many months now. No matter how "promising" the drugs may be, if you cannot move them forward through clinical development (which costs money) the drugs are worthless. And this is why I keep harping on the same theme that Leo must go. The Street knows CTIX needs capital. And that is why the share price keeps getting slammed down. Leo needs to do his job and that is to fund drug clinical development. His job is not to issue stupid press releases because that destroyed Leo's and CTIX's credibility in the eyes of sophisticated investors (meaning not Lee or Fraz).
The new bylaws should be an interesting read. I'm on assignment is SoCal right now and may not get a chance to read them until this upcoming weekend, at the earliest as matters got intense around the upcoming holidays. My guess, seeing the paranoia of Leo, is that the new bylaws are written to make it more difficult to remove/vote out his sorry posterior from the company. This is often done with staggered Board member terms and rigged voting to entrench poor management. Have not read it yet, but this is my guess because the timing of the new bylaws seems to coincide with the upcoming vote.
Yes I know we learned this week that cured red meat is a cancer risk, but today's press release was not news. There's nothing new or material in it. It was just a long treatise, with excessive use of adverbs and adjectives, of Leo's Tarzan-like chest pounding. Given that press releases are charged according to length or a number of words, why was this treatise needed?
Accordingly, all we have is a very insecure Leo, who continues to show his poor management. We need a partner. Leo, not more hype and male bovine excrement. And real and experienced pharma partners do not respond to hyped-up, material-less press releases. Like the kid who cries "wolf" too often, when something material actually happens and Leo get's off his posterior and actually takes steps to get the B phase 3 trial going (it's been over a year Leo, which is excessive) then real news will get lost in all of the excessive verbiage of the hype. This is more evidence why Leo needs to be booted out.
Pretty soon it will be just a footnote in the history books. For a while, some paid social media shills were active on this board to hype up the stock. But it looks like the money is running out so the board is relatively quiet and the paid shills have gone silent. To quote Shakespeare, this is Much Ado About Nothing.
Let's see. Ties (bow or long) do not get worn. We keep one or two for when we have to travel to the repressed people on the east coast or for meetings in the EU. As for taxes, please check your geography. There are 3 states having Pacific coastlines. One has the highest state income taxes in the country. Another has no state income tax. And GO HAWKS!
Every company I've seen that makes decisions based on retail shareholder "perceptions" fails. If this is driving Leo, it is yet another reason why he needs to be booted out. What century are you living in Franz?
Let's set the record straight. Flying to Logan in December for the CTIX shareholder meeting is not in the cards. I'll vote my shares, but meeting that loser Leo is not the best use of my time. Prefer SoCal or Canadian skiing in BC in Dec. My average basis for my CTIX shares is around 1.50 so I'm currently in the red and angry at poor management (no surprises there). And Franz a tweed jacket on the west coast, seriously? Don't own one. You guys need to get out more and experience the world outside of the east coast.
Looking for financing, when it is essential for survival, is a place of weakness. That means Leo has no leverage and he's stuck with any terms crammed down his (and the shareholders) throats. A reverse split is immaterial because the market cap is the same. Not doing the reverse split when the share price was in the upper 3's and Leo finally got a couple of goons (with zero pharma management experience) to sit on the Board and be sitting ducks for shareholder lawsuits for breach of fiduciary duty, and not do a reverse split to get on NASDAQ when he had a chance is the epitome of stupid and one (of many) reasons why Leo needs to be replaced. We have found the problem here and the reason why the stock price is so low. And it is between Leo's ears. Sometimes I feel like Toto, pulling back the curtain.
Yes I'm long. The reasons are none of your business. I don't have to justify my actions to you. But if we (shareholders) can vote Leo's sorry posterior out of management and the Board, we have a chance for competent management. And with competent management comes a significantly higher stock price. So if you're long, you should be joining me.
Yes that is the link. Now press the "Find Prior Art" link on the top of the page. That's all I did. And it looks like the same stuff in the prior art that came up by pressing the link. This is basic, not the fancy platitudes of the Hope website. As for the rest of the platitudes in your post, copied from the City of Hope site, I guess they "Hope" there is something but the realities of patents is that an invention claim can be knocked out by prior art. Platitudes aside, that is basic.
I've been wondering what this is. So I did a patent search and found published WO2015031837. But this one seemed a bit strange because they're claiming anything that is an peptide bound to an oligo. That's a PNA or peptide nucleic acid, something that is very old. If you go to google patents and hit "prior art" for this patent applications, all kinds of things pop up, including US20070212337, that seems to knock out the City of Hope patent application. Did these guys do any due diligence as that was too easy?
The answer is that as long as Leo is in charge and driving the bus, shorts can sleep easy at night. Whether or not K will be a blockbuster drug, or not, is still too early to determine. I have no opinion one way or another.