I can't access the I-Hub message board. It says:
" Server Error
404 - File or directory not found.
The resource you are looking for might have been removed, had its name changed, or is temporarily unavailable."
Anyone else experiencing this problem?
They set up phony consulting companies so they can pay out those enormous fees for doing practically nothing. Check out the connection between Robert Sand and Scott Sand. This is a common practice on the OTC. Also check out the connection between Norm Birmingham and FBEC. IMO, these stocks exists for only one reason, to enrich the insiders.
I doubt it. IMO, the problem with FBEC has been with the leadership. Sand came out the gate looking like someone who was serious about running a company and that is probably why the stock did fairly well under his watch. Things were looking good up until early September of last year. That is when all hell broke loose. Accusations starting flying from both parties....Jason and Adam( Wolf of Weed Street) accused Sand of fraud and vise versa. Once Adam and Jason took over it was never the same. Jason and Adam obviously got in over their heads and I think that is why Jason handed the reins over to Jeff Greene. Greene, unlike the previous CEO's, has experience running a company. I am surprise though that he hasn't updated us since his letter to the shareholders PR. They are extremely late with their 10k filing.
I became aware of FBEC about this time last year. Right away I noticed a ton of red flags with them, but decided to give them the benefit of the doubt. I didn't put much money in it( I never put much money in any OTC stock) so I am willing to wait it out. Unfortunately, FBEC is looking like all the other OTC stocks. They all look great at first, then the selling begins and it never ends.
Why haven't we heard anything from FBEC with regard to their 10k filing? They are extremely late with filing their 10k and yet certain people over at the I-Hub board (channeltrader and lasernat) keep pumping the stock? What a coincidence it is that those two people just happen to be moderators on that site, too. Coincidence? You make the call.
Was your order placed on their E-Bay site? The reason I ask, I noticed someone bought from their e-bay store about a month ago and there still hasn't been any feedback from that transaction. There has already been negative feedback on the e-bay site from a transaction back in December. The person complained of not receiving the product.
"On February 26, 2016, ArQule, Inc. (“ArQule”) entered into definitive securities purchase agreements with certain institutional and accredited investors to raise approximately $15.3 million in gross proceeds in a registered direct offering through the sale of 8,027,900 shares of common stock at an offering price of $1.90 per share. The purchase of each share of common stock includes an option to purchase approximately 0.4444 shares of common stock at an exercise price of $2.50 per share. The options will be exercisable immediately following the closing date and will expire 12 months after the public announcement by us of the outcome of the interim assessment of the METIV-HCC trial, subject to certain extensions.
ArQule estimates the net proceeds from the initial common stock offering will be approximately $15.2 million, after deducting estimated offering expenses. The offering is expected to close on or about March 2, 2016, subject to satisfaction of customary closing conditions. Should the options be exercised, ArQule estimates it will raise approximately an additional $8.9 million in net proceeds and issue an additional 3,567,956 shares of common stock.
The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-192796), which was declared effective by the United States Securities and Exchange Commission ("SEC") on December 23, 2013. The shares issuable upon exercise of the options will also be issued under the shelf registration.
The full text of the form of securities purchase agreement is attached hereto as Exhibit 1.1 and incorporated herein by reference.
A copy of the press release issued on February 29, 2016 announcing the offering is attached hereto as Exhibit 99.1 and incorporated herein by reference. "