NORCROSS, Ga.--(BUSINESS WIRE)-- Guided Therapeutics, Inc. (OTCBB: GTHP) (OTCQB: GTHP) today announced the pricing of a public offering and the entry into definitive agreements with purchasers for the sale of approximately 16.8 million shares of its common stock, and warrants to purchase shares of its common stock, for gross proceeds to the Company (including non-cash extinguishment of debt) of approximately $3.8 million. The shares and warrants are being offered at a combined price of $0.225 per share. Each warrant will be exercisable for five years to purchase one half of a share of the Company's common stock at an exercise price of $0.225 per share.
The Company expects to use the cash proceeds to continue to seek FDA approval for LuViva, to repay certain bridge loans, and to support general working capital and operations. However, the Company will retain broad discretion over the use of the net proceeds and may use the money for other corporate purposes.
Olympus Securities, LLC is the sole placement agent for the offering, which is expected to close on or about December 1, 2014, subject to the satisfaction of customary closing conditions.
"man crush..." That's funny. No such crush here... Glanced at the other board, saw the familiar names. Didn't read much... As far as large orders, they won't mean much to the bottom line near term as we learned for the first time on the last CC that they are making $0 on device sales. I was blind-sided by that one, if Faupel ever said that I missed it. I think that's a ridiculous model for this kind of company. We need FDA approval and a partner right on the heels of that... Did you ever ask Cartwright what kind of feedback he's gotten from the board lately? From people like Imhoff who have staked a lot here?
Big Eddie, so that's where you and Seabiscuit have been hiding out. Don't find time to read a lot of message boards. As far as GTHP these days... As one of my teenage nephews likes to say, "I'm not feeling it" with GTHP lately. Not feeling anything good, anyway. I get the feeling we're about to get flushed with this offering and they're going to let a bottom feeding hedge in the door to boot. I bet the Turkish distributor is feeling shafted at this point with the .307 they paid. Cartwright is a good speaker but everything always takes longer than his original publicly stated timelines. The wait for this financing has been the worst. Hopefully - soon - he'll learn to stop throwing dates around when he really has no idea whether or not he can keep them. Good luck!
If this is Platinum they're getting in bed with, well, lookout below. At this point there are probably a lot of people just waiting for FDA approval to dump... Last 7 trading days:
Uh oh. I added some this morning also. I hope this turns out to be a case of great minds thinking alike and not a case of a dumb herd of cattle heading down the chute together. Good luck.
Sales: $262,000 or $22,000 less than their estimate from two days ago.
Interesting note re: Magna notes:
On November 6, 2014, Magna agreed to refrain from converting any portion of the Convertible Notes or selling any shares of the Company’s common stock until after November 21, 2014, in exchange for an acceleration of the scheduled increase in the conversion discount on the Initial Convertible Note from December 19, 2014 to November 21, 2014.
DMRJ owns the longs. Who do you think smashed the share price after QPL?
Recent Sales of Unregistered Securities
In April 2014 and September 2014, DMRJ converted $116,000 and $212,000, respectively, of the accrued interest owed by us under a promissory note into 1,450,000 and 2,650,000 shares, respectively, of our common stock, at an adjusted conversion price of $0.08 per share. The issuance of these securities to DMRJ is exempt from registration under the Securities Act of 1933, as amended, pursuant to an exemption provided by Section 3(a)(9) and/or Section 4(2) of the Securities Act.
Those weren't open market purchases.
Explanation of Responses:
1. Acquired from the Issuer in lieu of cash compensation for board and committee service during 3Q 2014.
Read up on Uri Landseman also, he was the Platinum front man who used to appear on CNBC (and later Fox Business) touting their stocks. It was on CNBC that he first spouted the ridiculous line that there was a $550 million market for LS and he thought a bidding war for the company would happen between Cardinal and a rival upon approval. CNBC must have caught on to them as you never see him on touting individual stocks anymore and is only on rarely giving his opinion on general market direction. IMO, he's just an a@@hat carnival barker in a nice suit.
If you want to see a pattern the last couple days like NAVB, run a two-day, one-minute chart on IMSC. It's another stock that Platinum, through it's subsidiary DMRJ, is heavily involved in. IMSC received a (up to) $162 million IDIQ contract with the TSA this week but relentless 100-200 share trades have kept the stock under $1.40 and trading sideways. Then go back to September and look at the chart after IMSC received TSA approval for their 220 device. The share price was attacked the same way it is being attacked now. Bottom line, you can't view any stock Platinum is involved in as a long term investment, view them only as trading stocks. GL.
Same action that happened after TSA spproval, someone working hard to keep a lid on the share price with 200 share, "trades." Open, transparent, fair markets. Right.
"On October 23, 2014 and May 21, 2014, our President and CEO, Gene Cartwright, advanced us $30,000 and $100,000, respectively, in cash for 5% simple interest notes, and on August 4, 2014, Mr. Cartwright advanced us $200,000 in cash for a 6% simple interest note. On October 24, 2014, October 7, 2014 and August 26, 2014, our Senior Vice President of Engineering, Richard Fowler, advanced us $6,100, $20,000 and $75,000, respectively, in cash for 6% simple interest notes. On October 7, 2014, our Director of Marketing advanced us $10,000 in cash for a 6% simple interest note."
"On November 3, 2014, Richard Blumberg, one of our stockholders, advanced us $100,000 in cash for a note for $106,500 in aggregate principal and interest due November 30, 2014."
Earnings: "For the three months ended September 30, 2014, we expect revenues will be approximately $284,000 and net loss to be approximately $2,972,000. "
Samuels continues to sell. From today's filing:
Between October 14, 2014 and October 30, 2014, the reporting persons have sold 424,050 shares of the Issuer’s Common Stock. All of this stock came from holdings of Dr. Samuels.
Jen, you brought back another old fave, gthp10bagger. And I see zerorisk is spamming other boards again. You're a busy girl, I'll let you go. Have a nice day.
Jen, you brought back punta! When will you start using gthp10bagger and zerorisk again? Have a nice day.
Not turning bullish after latest LS approval.
Aegis Capital affirms Navidea Biopharma (AMEX: NAVB) at Hold with a price target of $2 following FDA approval of Lymphoseek's NDA for the drug to be used in lymphatic mapping in solid tumors.
Analyst Ram Selvaraju commented, While this is a significant regulatory milestone for the company and could permit Navidea to access a market of up to 1.2mm solid tumor patients, we remain neutral pending further demonstration of Lymphoseek commercial traction, to the point at which the product's revenues begin to exceed our expectations.
Our valuation methodology provides for a contribution of only $1.30 per share in value from Lymphoseek. Therefore while we believe that there is room for upside from the current share price, we feel that the risk/reward profile of the firm at this stage needs to improve before we can be more bullish on the name. The pipeline also needs to progress before we can have greater confidence in its value.
Trader who posts his picks on iHub. Google "ihub $heffs-$tation" and it should come up. You'll get a kick out of the circa 1997 spinning/blinking animations.
Of course he was shown the door. After listening to some of his presentations, the last one where he sarcastically asked if anyone cared to leave a resume for his job, he deserved to go.
Google "Chembio Diagnostics Enters the Fray" for complete article.
Chembio Diagnostics, as the name suggests, makes rapid-response diagnostic tests. Its focus is on syphilis and HIV, but whispers have been floating around that it's working on a rapid-response Ebola test for use in the field and/or in emergency rooms where speed of treatment is crucial.