Consistent with the message in my post, I would expect anyone who gives it a thumbs down would either be silent, or let me help you with a comeback, how about the following:
"you had is coming invested in a penny stock scam"
"any company who does a 1/125 reverse split is a scam"
"no response by the company means it's a fraud"
"pump and dump scam"
I might even add an interpretation to all these (at least how others see your posts):
"I'm going to take a jab at this company like a 7th grader might, because I really don't know anything. Maybe if I'll spread pump and dump fear following the lead of our head clown Pearson, it might enable me to profit if I short the stock or at least get in cheap and take a long position."
In looking back over the ADXS message board activity since the inaccurate and libelous Seeking Alpha article was published for no other reason than for Pearson (and his alleged accomplices in the orchestrated illegal effort) to profit on the backs of ADXS shareholders, it is encouraging to see how ADXS shareholders have come together to defend the company and attempt to hold the perpetrator(s) accountable for their illegal activity. In reading through all of the messages posted on this board over the last several days, one gets a sense of how committed and knowledgable ADXS shareholders are and how much we believe in the future of the company and support what ADXS management is doing. At the end of the day, our thesis reverts back to the science, which is well articulated by many on this board. By contrast, fly by nigh bashers and/or those associated with Pearson take jabs based on irrelevant or inaccurate information (reverse split, penny stock, Dream Team, etc.) None of these posters speak to the science or ADXS' clinical pipeline, because in reality they know nothing about the company. In the Seeking Alpha article, when Pearson did attempt to criticize the science/clinical developments, he made himself look at best like he's not the brightest guy to at worst a downright liar. Justice's rebuttal did an amazing job calling him to the carpet. Yet, has anyone stood up and argued against Justice's points? No, because they are unable to since what Justice wrote is well documented and the truth.
At the end of the day, we are significantly undervalued with great prospects (one of the reasons these #$%$ orchestrated a bear raid based on false information…so they could get in cheap as possible before a huge run up taking us to fair value, +$500 million market cap).
Pearson is no different than a common thief, but he's actually much worse because of the sophisticated deception he used attempting to deflect ownership of his criminal activity away from himself onto the company he attacked. He accused ADXS of essentially trying robbing shareholders, but that was exactly the aim of his entire orchestrated attack (to rob ADXS shareholders so that he and his alleged accomplices would personally profit).
Chinaman, thank you for standing up for ADXS shareholders against the defamatory Seeking Alpha article that constituted a violation of laws against securities manipulation.
To give you a brief synopsis, a guy named Richard Pearson wrote an libelous article in Seeking Alpha with gross distortions and inaccuracies to mislead retail investors into selling ADXS while he profiting from his short position (and allegedly he and those likely shady hedge funds took long positions in the stock after it came down). Many on this board have contacted law enforcement to start an investigation on Pearson. It's clear he broke securities manipulation law by "spreading false or misleading information about a company". See SEC definition below. You're right, retail investors got screwed as they would scared out of selling their shares while others benefitted from shorting the stock then turning around and taking a long position cheap once the stock sold off.
Manipulation is intentional conduct designed to deceive investors by controlling or artificially affecting the market for a security. Manipulation can involve a number of techniques to affect the supply of, or demand for, a stock. They include: spreading false or misleading information about a company; improperly limiting the number of publicly-available shares; or rigging quotes, prices or trades to create a false or deceptive picture of the demand for a security. Those who engage in manipulation are subject to various civil and criminal sanctions.
Well said, Scott. I agree, at the end of the day the science will prevail and we're significantly undervalued, heading up. In some ways, Pearson and his cohorts pulled off the perfect crimes, stealing shares from retail through distortions and misleading assertions, transferred into the hands of funds. I'd like to see him held accountable for breaking the law.
Justice, I don't know for certain when ADXS ended the relationship with Quality Stocks, but it appears it ended in November 2013. Google "Seeking Alpha ADXS instablog" and you will see all the PR releases from Quality Stocks and they stopped in November 2013. You may be able to contact ADXS directly for confirmation. Interestingly, ADXS did its reverse split in July 2013 at $4.88 and if you look at the stock price since then it didn't do much of anything until recently after the deals with Merck and Astra and big catalyst/institutional investor affirmation by way of the Adage stake. Quality Stocks had nothing to do with ADXS' recent appreciation, and Pearson knew as much, which is why he should be held accountable for violating securities manipulation law.
I think one of the most incriminate (smoking gun) in his article revealing malicious intention was his reference to ADXS' use of the Dream Team and reference to GALE. ADXS' used Quality Stocks for some PR a year before the recent stock appreciation and during the time Quality Stocks was used ADXS' stock was in the gutter so that promotion had no effect on the stock price. The bottom line is ADXS used Quality Stocks promotion in the past but it was completely unrelated to the recent stock appreciation. Pearson clearly was misleading and invoking fear by comparing ADXS to another company, GALE, that ended up being investigated for pumping the stock up through the Dream Team. ADXS use of promotion was no where near the time of the recent stock appreciation, and when ADXS did use promotion it did nothing to the stock, so Pearson purposely tried to deceive investors by making these false representations.
for your work with the DA office and SEC. Person should be held accountable for breaking the law. Below is a definition from the SEC website of securities manipulation. Specifically, Pearson in his slanderous SA article is guilty of "spreading false or misleading information about a company" and Justice's rebuttal does a great job proving it beyond a reasonable doubt.
"Manipulation is intentional conduct designed to deceive investors by controlling or artificially affecting the market for a security. Manipulation can involve a number of techniques to affect the supply of, or demand for, a stock. They include: spreading false or misleading information about a company; improperly limiting the number of publicly-available shares; or rigging quotes, prices or trades to create a false or deceptive picture of the demand for a security. Those who engage in manipulation are subject to various civil and criminal sanctions."
It's clear what Pearson did was illegal and obviously unethical. The question is is there enough evidence to convict. This rat should be in jail. I am on an email distribution from the SEC and every week I get at least one email on cases where they indict people/organizations for securities fraud. Manipulation of securities based on false information so that the perp profits is illegal.
No way Adage sold their shares. These guys are sophisticated long-term investors. ADXS is only around a $200 million market captain. They likely have their eyes on a valuation greater than $1 billion before they sell. Take a look at their Puma investment.
Great point, Donjay. This scam may represent the ultimate consolidation that takes us to a higher level beyond the recent high.
I think DOC's silence on this issue is a strong implicit statement that the accusations are not worthy of response because they are completely baseless. I could see ADXS briefly addressing the issue at the Feb 3 analyst days, but beyond that it is a non-issue. Think about it, does DOC really want to stoop to the level of a loser by giving any credence to his "scam"? For a guy who claims he is standing up for ADXS shareholders as victims, the reality is that ADXS shareholders uniformly acknowledge that Pearson is the one who is taking advantage of ADXS shareholders (not ADXS management).
Advaxis' shareholders have been through a lot over the last couple years. Pretty disgusting how blatantly deceptive and invalid Pearson's write-up was in a shameless attempt to line his own pockets at the expense of Advaxis shareholders (who he claims are the victims of paid promotions, misleading statements by the company, etc.). What a scam artist. In his Seeking Alpha bio, it says he picks a select number of stocks and does deep research on them (b.s. this guy is a common #$%$ using a venue that Yahoo last year recognized as illegitimate). What I find most ironic is that had Pearson had really done his due diligence on behalf of the common retail shareholder he insincerely acts like he is standing up for, he would have certainly come across the controversial RSU grab and means by which the company was able to push it through last Spring despite widespread shareholder opposition. No mention, yet the issues he writes about are completely irrelevant. The Dream Team promotion happened long before the recent stock appreciation, and ADXS likely stopped using them because it the promotion did nothing for the stock. Why didn't Pearson write about ADXS and the Dream Team promotion when ADXS utilized the firm back in 2013? Because the stock was in the gutter and Pearson couldn't have profited. Pearson also diminished Adage's investment saying they have $25 billion and their $17 million investment in ADXS says nothing, which frankly reflects Pearson's stupidity. Most wealthy investors I know got that way because they are incredibly discerning about where they allocate their money. To imply that two guys that run a successful investment shop who previously ran Harvard's U.S. equity portfolio are just throwing around $17 million without any conviction in the prospect of that investment is…well, it is as Pearson intended it to be, misleading. What's most disgusting is that at this point Pearson has probably profited from his short in ADXS and is now likely long the stock.
I think you're right. Beyond that, if Advaxis releases any material news between now and Feb 3 we could push past the recent high.
The warrants actually expire in October 2018 (not July). Below is from Advaxis' press release on October 16, 2013 when they issued the warrants.
"PRINCETON, N.J.-- Advaxis, Inc., (NASDAQ: ADXS, ADXSW), a leader in developing the next generation of immunotherapies for cancer and infectious diseases, today announced the pricing of its public offering of 5,750,000 shares of common stock, and warrants to purchase up to an aggregate of 2,875,000 shares of common stock, at an offering price of $4.00 per share and $0.01 per warrant. The warrants have a per share exercise price of $5.00, 125% of the public offering price of the common stock, are exercisable immediately, and expire five years from the date of issuance. Advaxis, Inc. has granted the representative of the underwriters a 45-day option to purchase up to 862,500 additional shares of common stock and/or warrants to purchase up to 431,250 additional shares from Advaxis, Inc. to cover over-allotments, if any. The shares and warrants of Advaxis, Inc. will begin trading on The NASDAQ Capital Market under the symbols ‘‘ADXS’’ and ‘‘ADXSW,’’ respectively on October 17, 2013."