Legal costs going forward may be vastly underestimated. My sources tell me there is a good case against both the former CEO and the company.
Everything signed and dated the DAY BEFORE his resignation. Copy of filing available on ihub.
Frank Reynolds Corp.
Bingo. One step ahead of the game. Probably done a matter of days before he resigned.
Frank Reynolds Corp, listed at his home address in Salem NH was filed as a new corporation two months ago, file number 696928. Hmmm....used car dealer or another business to launder his ill-gotten gains in selling NVIV stock before the collapse?
there is no comparative analysis published in the peer reviewed scientific literature of the second or third trials.
I for one wish I had listened to misinformathrope for the two months prior to CEO resigning. He knew the entire playbook for the shorts thesis that was published on the day the news hit. Foolish to think the hit piece wouldn't see a perfect opportunity like that sooner or later.
Frank Reynolds name is on those patents too, yet he is no longer with InVivo. What if Langer quits the board of directors next? Now how would those patent rights be divided if the company were hypothetically to sell their patents? Serious answers only, no pumps or bashes. Back up what you say.
Time, time, time
I never really noticed when Frank lied to me
Sometimes it's amazing just how blind an investor can be
If I weren't busy pumpin'
I might have seen it comin'
That's life, if you open up your eyes
You'll find profits won't come for a decade
Time, time, time
One buffoon displayed efficacy as a scofflaw, but the baboon with scaffold didnt walk.
None of these issues have been forgotten. That's one of the reasons investors aren't taking any interest. The other is that the company has a new timeline to eternity - commercialization coming to a theater near you in 2020.
There are no other published comparative studies. Ask yourself WHY?
B.S. Your going off the deep end of pumperville, Miker. You used to be very practical-minded and objective.
I'll tell you why -- Frank does not get a hall pass for failing to inform investors that the scaffold implants would be staggered, that they would not start until 1Q 2014, and that the FDA would require a followup PMA study.
He had to have known those facts before he resigned and the failure to release material information and meanwhile leave the original timelines on InVivo's website, with different assumptions, is in fact, fraudulent misrepresentation of their business condition.
I'll tell you why he had to have known those facts before he resigned. The interim CEO didn't just show up based on a late day phone call when Frank resigned. It takes a while to select an interim CEO, leading from the screening step, initial contact, to finally accepting the job and coming into the office to formally take the helm.
Now, how could the new CEO have all of the knowledge of the scaffold timeline delay details at his fingertips on DAY TWO of his new job. Certainly the company had ferreted out and documented these facts before the new CEO ever started work at InVivo. Therefore, the OLD CEO ...aka Franky the Weasel... already knew perfectly well of these material facts BEFORE he resigned.
I rest my case. Frank .... AND INVIVO....SHOULD BE SUED.
IMO Luque is Lucky he hasn't been forced to resign because he told investors everything was fine just 2 or 3 days before the uplisting postponement was announced and again when the CEO resigned he said the same thing. He had to have known about uplisting postponement and also about Scaffold timeline reset, yet he told investors things were on track. The whole company should be sued and I am flabbergasted why no law firms have shown up to do the honors.
The whole divorce thing as an excuse for his 10b-5 plan is an unsubstantiated rumor. There isn't one iota of evidence presented on this board or on the internet as far as I could find. Check it out for yourself. Add that to Frank's mile long list of lies...lying to the judge when he fabricated a U of Penn document, lying about scaffold timeline, lying about having been paralyzed in a car accident. The list just goes on.
My above post does not refer to any faked monkey trials, to stay on topic it refers only to the timeline issues. The fact is that Frank spread disinformation on the timeline, that was the gist of the credibility referred to in my above post. Regarding the reluctance of IRB approvals, the truth is that severely injured ER patients all have a high potential degree of swelling and complex contusions and injuries to the surrounding structures, all of which contribute to severe inflammatory response. My point is that NONE of the monkeys were subjected to that type of injury, rather it was a very clean surgical hemisection. That fact alone makes surgery far more risky for a real ER patient than a laboratory animal. The IRB staff will probably include other surgeons who are cognizant of the potential for complications with surgery performed within the early window when inflammatory responses are at maximum. Also, regarding benefits versus risks, again to this date there is only ONE subject monkey with scaffold alone treatment arm whose results were published and compared to controls in a peer previewed journal. One patient doesn't equate to overwhelming evidence. The unpublished results are still be awaited by the medical community almost 3 years later after the hemisections were performed.
Here is my 2 cents since we are speculating:
Hydrogel FDA application - something is seriously wrong with this proposed pipeline that the company cannot even give an estimate after over one month since they announced they would reevaluate all timelines. On the heels of the resignation of a CEO who didn't meet any promises for two years running, that gives a finite and non-negligible risk that the actual product won't be developed for reasons not yet disclosed. It could be a 60% probability or just a 15% probability, but either way this scenario would tank the stock to 50 or 60 cents if it is revealed after all of the recently exposed disinformation on the scaffold (I still don't understand why they are not being sued).
Scaffold first patient enrollment....putting the cart before the horse IMO. There is a finite chance, just like with the hydrogel, of no hospital institutional review board approving the scaffold treatment BY ITSELF. It is quite risky surgery and it may not be approved unless in conjunction with a promising strain on human neural stem cells (hNSCs), as there should be a big benefit to make the risks worthwhile. That may be only a 30% chance or only a 10% chance, but it is not insignificant since it could translate to an additional two year delay until some adjunctive hNSC therapy gets the green light for simultaneous clinical testing. Again, a further two year delay on the scaffold trial start date would tank the stock to 50 cents or 60 cents.
Staggering intervals once the testing begins - IMO this will be longer than 3 months from one start to the next start, purely because all of the patient data over a 3 month span has to be summarized and presented to the FDA after the fact, then as we all know the FDA NEVER makes a snap decision, so in all likelihood they will review and study the data for at least 3 months. So right there patient staggering intervals are effectively 6 months apart. Maybe - not even likely - the last
3 patients are expedited
If you can't stay on topic, you are on IGGY.
I am who I am and my professional reputation is as solid as a rock.
Let's just leave it at that and keep this convo about NVIV.
I really don't want to have to start hitting the "FLAG - REPORT ABUSE" button.
Let's get personal, shall we?
Seriously, you can't sweep the hydrogel news delay under the rug any longer.
They promised FDA application would be submitted in September, while the new CEO promised to re-evaluate the timeline ONE MONTH AGO.
We are now a week and a half from September 30th. Go figure.
BTW I am working, part time. And I have submitted close to 100 job applications and had several interviews but no offers. So take that broom stick to where the sun doesn't shine, tinky
The hydrogel news delay has a stench about it that reminds me of hydrosmell.
After just ONE DAY on the job, InVivo's brand new interim CEO was amazingly prepared to issue a revised scaffold timeline in glorious detail about not just the start, but the staggered trial duration, and also the requirements of a followup PMA study as well.
He could be just as amazingly prepared to issue a PR about the timeline for hydrogel after having had almost ONE ENTIRE MONTH to look into the status of the project. Something doesn't smell good here! I think after he saw what the market thought of his first timeline announcement that he is afraid to be equally honest and forthcoming with further pipeline schedule delays. Maybe we will get the announcement on January 9, the day before his temporary position expires.
I was up $186K and am now down $112K on my basis costs, essentially because of overweighting NVIV in two accounts. One account was spared as I only had 50%, but the other account has lost all of the last 12 months of profits, where I had over 70% NVIV. Don't follow Envy_yo, as he has already disproven his thesis over the last 5 months. I won't go so far as to say he has "followers", as his tin foil cap is so far out there that almost nobody on the board thinks he has an ounce of common sense.