Heres my guess. It was bought in his fund because of technical reasons. This has tanked, his fund probably buys small amounts of things that have tanked because once in a while they pop.
As far as the politics, yeah it is too bad that the liberal media got involved and tarnished the reputation of strong moral (snicker) Republicans like McDonnell and JW. I agree. Sorry cant say that with a straight face.
The way I see it, they could have another 180 days for compliance after this 180 days expires in October.
They must meet the market cap requirement, which is currently $35M AND the have a plan to regain compliance (eg reverse split). Certainly cutting it close with the $35M market cap. Not sure if they can use the other form of compliance under Shareholder equity or not - that only requires $2.5M. Most recent balance sheet showed they had $6.9m in Shareholder Equity (Assets- liabilities).
They were notified on 4/30 of their deficiency notice.
My guess, if they are compliant under current market cap terms, they will file for 180 day extension. If they meet it, they will likely have a plan for a reverse split, assuming of course they wish to remain on Nasdaq.
Should be known by mid November.
Straight from the Nasdaq site under FAQ. for Compliance.
If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, NASDAQ will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.
Thereafter, if such a company does not regain compliance with the bid price requirement a second 180-day compliance period may be available. A company listed on The NASDAQ Capital Market may be eligible for an additional 180-day compliance period if it meets the market value of publicly held shares requirement for continued listing, all other initial inclusion requirements for the Capital Market, except for the bid price requirement, and provides written notice that it intends to regain compliance with the bid price requirement during the second 180-day compliance period, by effecting a reverse stock split if necessary.
Great for those that need aboc. Likely bad for the company. Puts the company at risk with the feds again. Do they really want to rock the boat with the FDA with potential of sales occurring across state lines? Can they police that, and is it their responsibility to do so?
Plus if their intent is really just to service the state of FL, does it make sense from a financial standpoint to fire up the manufacturing and advertising campaign for such a small market? Abloc was unprofitable when there were US and beyond, how could it be a profitable venture across a much smaller market? Certainly again, not without drastic cuts in expenses and salaries. They certainly dont need more of a financial drain.
Not likely IMO. Again a shame for those that need it. But since this is all just conjecture, perhaps someone can contact IR or ask questions at the shareholder meeting to see if this is viable before people run with it because it was written on a yahoo board. Why not get the facts instead of living in fantasy, as usual.
Boy to be a fly on the wall during the shareholder meeting this year. Whew.
Completely agree. There is no comeback except the paper tiger. Right now the tiger is growling "Partners". Partners??? Who is going to give them more than cent one when they KNOW the company has financial issues AND is years away from phase 2 data?? And if they did, it would be a bum deal. Ive heard a lot about IP lately, what IP? Yes they have limited study data and an inflammation patent, but no patent on specific disease as of yet. Oh by the way, JW owns the patent and we know how well that has worked out.
Now on salaries, I admit, if i were the new staff, I would want a pay day too to clean up the mess from the previous group. At least they are earning it. Still I agree, there is no way RCPI can afford the new mgt paycheck.
JW and Perito walk with many many millions after 10 years of utter failure is the true crime.
Again that level of entitlement would make a welfare queen blush, but apparently not a red blooded conservative.
One good thing, the price is near a near term trend support line going back to beginning of year. Perhaps theres a bounce. There is still the longer term trendline which now sits at about 9 cents. Not out of the question either.
of course none of this will reverse the long term trend on its own. That will take a long time, IMO.
Izof doesnt give investment advice about an investment on an investment board. Yeah makes my head spin too.
Except of course when he does give investment advice. Like he did on the private board. I had stated after the tobacco failure that I thought the stock price was at grave risk. He disagreed believed the drop was over. i believe this was well north of $2 a share. And before someone says so what, thats old news I will offer that there are a lot of posts from Drum from around 2008 lately. Really Helpful.
Good thing I was booted from the private board with shame. Im sure no longs could have benefited and save thousands or tens of thousands from a reasonably objective but descending opinion. I mean its not like the stock tanked or anything. But hey Im sure there have since been a lot of big words used, fun techie talk about abine, a WHOLE LOT of exciting fantasy speculation that never came true, and yes a blaming and bashing of the shorts that solved absolutely nothing.
Ah well. I tried.
agree on the loss of abloc thats a shame.
However comparing a flight that puts in danger the safety of two pilots to a drug that puts the safety of thousands of consumers is hardly a valid comparison.
Also bear in mind in 1903 when the Wright brothers flew, women still couldnt vote. Perhaps we should regress? Now that we have an FDA overseeing our drugs and a stringent policy to improve, we are safer. We have learned from our mistakes, its called progress. Did you know that Pfizer experimented on children in Africa in the 1990s to skirt the FDA, and children died as a result? Thats just a sample of power without check. Perhaps we should allow the good and moral corporations to do as they wish to our citizens without federal rules and restrictions. Im sure there would be no problems in the name of greed.
The fact that you said you "gotta go call my broker" tells me a lot.
It means either you are investing like its 1979 OR you are full of it. And what good is a new PR firm for GODS SAKE??? How is that going to help the cash position or speed up trial data, which cant be done. Geez. Cant make this up.
Um, yeah remember its not RCPI selling on ebay. its people who already bought from abloc from RCPI. In other words RCPI revenue is already on the books from the stuff on ebay and they wont capitalize on the price increase.
Explain how this is good news? Serious question, just trying to see what Im not seeing. The way I see it abloc is off the shelves, maybe for good but certainly seems likely for 2014. this means no revenue while they develop. Who knows perhaps they can sell in EU. Ironic since EU was always trying to get the product delivered there, now is the US consumer scrounging.
key statement from the PR. seems to indicate end of year.
"The NDIN submission came in response to a previously issued FDA letter to the Company, which indicated that an NDIN was required before the Company's supplements could be marketed. In August 2014, the Company voluntarily suspended CigRx and Anatabloc sales, as the Company conducts an internal review and analysis of its supplement business, which is expected to be complete by year end 2014."
ALSO key was that Europe is at least 4 months away from FILING for an NDA. Then of course it takes time for approval of the NDA. This before they can even begin the trial. Again, i do believe time table here is WAY off for many. All the while they will also be paying high salaries again to current management, as well as paying off JW to likely a few million. Where will that money come from??? Unless JW wishes to dig deep.
8.companies with this kind of IP sell at 5 to 10 times RCPI' price
9. If RCPI were to be unsuccessful in raising funds to finance its research, it would be forced to put it's IP on the block and we would have a 5 - to 10 bagger, and probably within a year to 18 months.
This is how a pumper hooks you. Sprinkles in a bit of truth (the early points) and then hits you with the pump - specifically points 8 and 9 and 10. this makes the whole thing seem legit and puts a target in your mind. Geez, maybe I could make 5 to 10 times my money quickly.
To start I would would LOVE an example of #8. You have obviously done your research to know for a fact that there are companies out there trading at 5 to 10 times RCPI that are under similar circumstances (yet to start a phase 1 trial, large salaries to be paid soon, under investigation)
So since you have done your analysis, why dont you share the companies and further drive home your point? Toss them out and we can analyze to see if its apples to apples.
Anyone see the article on our old buddy Marty? Worse than JW really. No wonder he slammed him so much - saw himself reflected back at him.
What a Pr1ck.
Google "The Most Unconscionable Drug Price Hike I Have Yet Seen
Email This Entry"
"That link mentions part of Shkreli's business plan as "acquiring the rights to obsolete remedies Shkreli says can be put to new and lucrative purposes", and by gosh, that's certainly accurate. Retrophin is increasing the price of Thiola from $1.50 per pill to over $30 per pill. Because they can - they stated when they bought the drug that their first move would be to raise the price. New dosages are formulations are also mentioned, but the first thing is to jack the price up as high as it can be jacked. Note that patients take several pills per day. Shkreli is probably chortling at those Mission Pharmacal hicks who didn't realize what a gold mine they were sitting on."
"So thank you, Martin Shkreli. You've accelerated the progress of the giant hammer that's coming down on on all of us over drug pricing, and helped drag the reputation of the pharmaceutical industry even further into the swamp. But what the hell do you care, right? You're going to be raking in the cash. The only thing I can say about Shkreli and Retrophin is that they make the rest of the industry look good in comparison. Some comparison."
Of course if you subscribe to a cyclic multiverse theory, its possible that what preceded the big bang was an infinite cycle of big bangs.
True but remember, the Donald is not an elected official. However it is debatable who had more of an impact on peoples lives, the Donald or McDonnell. A debate as to whether or not money or politicians truly dictate our laws and way of life.
But yes, both game the system. One just hides inside a corporate shell.
Did you know that Neanderthals were actually reasonably smart. One of the theories of their "demise", however, is that they were not particularly adaptable to change.
Same as many investors, it seems.
Demise is a loose term since their DNA is contained within us.