You hit the nail on the head! There are too many investors who if they don't get a payoff in a month they throw a fit and declare a company a pump and dump scam. And many have no ability to calmly wait out a loss, which in a development stage company is almost always a given for at least awhile. I don't think these type of investors make much money. Which is their problem. They make it all of our problems (or at least announce) by whining and moaning on the boards asking other investors to calm their fears. But I don't think its a now versus the old-days thing. Its just back in the day there were no message boards onto which they could copiously and anonymously whine.
I believe Nasrat said he expects to make a decision about whether they will go with a partnership or not by year's end. He has not ruled out going it alone if the partners wants more than he feels a partnership is worth. But that doesn't take anything way from your observations about Elite's momentum. We are having to wait longer for the market to recognize the potential, but as long as the tests keeping coming back positive we will get there.
Here is your spike, but your a short sided day trader if you get out. Your absolutely right that Nasrat doesn't care right now that the stock is priced lower than it should be. He doesn't care because he is not interested, or needs to sell any shares right now. Even said he wouldn't be selling them to LPC at this price, and that is no problem because he doesn't need their money in the next few months. If he achieves what he says he will in the next few months the stock will increase. It doesn't matter that it is not rising now, But your post indicates you are uncomfortable sitting on a stock that is not increasing, and only increasing in price. That really limits your ability to trade successfully. But good luck to you, maybe you are very good at knowing that a stock is going to rise in value within a month or two. I have always had to sit on them for a few years.
I went back and read the companies 3 year business plan, and this increase in shares was to be expected. They described needing 5 to 10 million to roll out their brachytherapy products and noted that they would be increasing share count to fund the first 6 months of this process. So technically I can see how they don't 'have' to explain the increase share count now. But if they had put some sort of explanation in the SEC filing (which I have seen other companies do) it would put to rest the concern that the shares will not be used to kick off the brachytherapy business and and instead will be used to survive waiting on FDA approval (as the former would mean they wouldn't be issued until after approval when the stock's value has improved). From the business plan PR....
"The Company anticipates funding the initial six months of its requirements for brachytherapy, sales agency activities and potentially the acquisition of a controlling interest in the German company through the sale of equity or equity-linked securities. In support of these efforts, the Company has reached an agreement in principle with the Company's largest creditors to convert most of their debt into equity concurrent with the Company's receipt of funds on pricing comparable to that obtained in any such financings."
The only thing that wasn't here yesterday was your ID. About half my posts on this board are to refute the $4.00 as an estimate that has been in place since Elite was in the mid dollar range in the mid 2000s. Go away, we don't need your kind anymore than we need the Billy and mgeegle's. Elite's pps can grow on the actual accomplishments and solid plans for the future. Your BS and lies make it more difficult for investors to decide whether this is a good investment or a flash in the pan.
They indicate they are still evaluating there options and trying to figure out if trials are an option. I think if they had submitted a de novo petition requesting FDA to make a risk-based classification determination for the device under section 513(a)(1) of the FD&C Act they would of legally had to say that in the 10-Q. I would love to know why they didn't at it seemed a good fit. But I don't see them answering that. They did manage to trade shares for consulting services in Feb. and Mar. which means they convinced someone they had a chance. But no consulting services since. So if they are weighing their options I'm not sure how they are doing it. A flood of stock at a penny or hundreds of pennies a share is not going to go very far.
But frankly I think the company is toast :(
Post on full of poop site that is such a joke. I'm positive on ELTP, but not on ridiculous lies. We don't need a fake pumper campaign. It will happen on its own the right way.
The company did put out a PR saying they were increasing their manufacturing due to increased demand. That decision was not made by gitty engineers, but the number of orders they were getting. Unless the bottom fell out, it looks like that PR has getting some market share back written all over it.
Of course its the norm, they are a investment firm that is what they do. Identify start ups with good ideas and high chance of success and help them with capital in return for shares.
where do you get 6 billion? Hoovers lists Battelle Memorial (which is the component of Battelle that invested in ADMD) as having revenue of $4,795.967 and income of $-7.305.
I think they were selling for a few days, but stopped (hence volume plummeted and price went up today). My guess ADMD needs x dollars to address a short term need. I think Battelle would of been informed and agreed to buy most of the shares at 0.495 cents to over their needs. Otherwise they wouldn't of bought in at the price they did, or bought in at all for that matter. If you look into the company they make money off intellectual rights, not stock. It's like the government bailing out the auto companies by buying stock, not at all normal, but hopefully ADMD will have its own turn around.
It at least shows that the FDA does not want to hinder the approval of devices that are improved over currently available devices.
UPDATE 2-FDA proposes program to speed approval of medical devices
Esha Dey and Susan Kelly
Tuesday, 22 Apr 2014 | 4:06 PM ET
April 22 (Reuters) - The U.S. Food and Drug Administration on Tuesday proposed speeding up medical device approvals for patients who have no other treatment options through a new program focused on earlier and more frequent interactions between companies and FDA staff.
The Expedited Access Premarket Approval Application program is a response to criticisms by policymakers, patient groups and industry that the FDA process for approving medical devices is inefficient and slow, delaying patients' access to new, helpful products.
The program is not a new pathway to market, the agency said, but rather a change in approach aimed at reducing the time it takes to develop a product and get it to market.
It is similar to a new FDA program intended to expedite development of certain cancer drugs in the clinical trial stage, Morningstar analyst Debbie Wang said.
"This is yet another aspect of how FDA is trying to work in a more coordinated fashion so they can reduce the number of false starts and situations of reinventing the wheel, and to help put some priority on which therapies are going to affect the most patients with the greatest need," Wang said.
A device can be eligible for the program if it features breakthrough technology with significant benefits over existing products.
In recent years, review times dragged out as the FDA faced a rising number of new product applications. Recent increases in the user fees paid by industry to fund FDA work could be providing more wiggle room for the agency to devote manpower to improving the application process, Wang said.
I agree, yesterday I think the 6 mil shares were new dilution. Not worth much now. I think the two grande the CEO bought was an intention attempt to give some positive sign before the dilution began to try to survive the wait with the FDA. It has potential, but it is in a very tight spot now. My investment has always been a win big or lose everything so I'm not sweating it now. But I'm also not buying more, I have the amount invested that I'm willing to lose. For new investors it's still all or nothing, you just get more shares per dollar if it is a win.
The choice he has if he thinks it is failing is to stop putting money into it. Him using $10,000 of his personal money to buy common shares is not going to do anything for the company if they don't get FDA approval. The only reason he would do that is if he felt it was a good investment. He already has and runs a successful profitable company. If ADMD were going no where he cut his losses and focus on that company. If your looking for dumb try a mirror as an insider willing to buy more common shares not protected from bankruptcy any more then the ones I own is definitely a vote of confidence.
Is contained in statement that "AMIC is engaged in discussions with the FDA through the Pre-Submission process, including an in person meeting". That statement confirms the meeting with FDA that the poster earlier said was announced in the meeting to increase shares, but the interesting new information is "Pre-Submission process". That gives us a hint of the timeline until ADMD might, and I repeat might be updating us (because they might not like what they hear and keep it to themselves). The PR doesn't say that they are going to meet with the FDA in the future or have already. But at the point they do the FDA is supposed to get back to them in 75 to 90 days with feedback. BTW, do be in the Pre-Submission process ADMD had to submit a request to use the Pre-Submission process so they have decided on a path of figuring out a path. Also, one of the many situations for which the FDA recommends using the Pre-Sub process is "When preparing a submission for a new device that does not clearly fall within an established regulatory pathway".
So lets start guessing time frames. I am guessing 4 months until Pre-Sub process feed back is obtained (because reading between the lines I don't think they have met yet), then 3 to 9 months for ADMD to do stuff with feedback from FDA (perhaps create new submission, conduct animal animal tests, or human tests), then resubmit and wait (3 months) and then allow for the the usual delays by throwing in 2 more months. That makes it 9 to 15 months until approval. But thats assuming we don't go full PMA. If that happens toss in another year(s) and many millions of dollars. Time to stop watching this closely.
I noticed in the proxy announcement that 9% of the common shares are owned by "Brookline", or a total of 12million. Does anyone know if this a institutional investor that hopped in since the last quarterly announcement (hence no listed as institutional owner). Unless someone name change (like Madonna) it certainly isn't a individual investor. I googled the name, and there are a few investment companies with that in their name, the most applicable looking like one out or Birmingham Al. It will be interesting to see if institutional investor listing includes them in the next quarterly report. I also noticed the number of share holders is still about 200. Sad since they gave the Kevin S. guy 7 million to get more people interested. Seems like that got the company a couple dozen new investors.
I am actually worried about admds ability to wait out the FDA, but you guys seem terrified of their success. Try to get control of you emotions before you post and focus on coming across intelligent, calm and mature. Reading these is like having to listen to a performance so bad that the audience is embarrassed for the person. Your accusations are as ridiculous as the recent post touting isorays scientific superiority.