Everybody read the just-released form 10-Q for the period ending April 30, 2017.
Turning off the lights and closing the door on this scam. Well, not exactly. They're ceasing operations for now in a "conventional" business sense, but of course they're still dreaming up ways to bilk unwary "investors" out of their money. At least they're acknowledging that their attempted "acquisitions" only made things worse. And they're admitting that the only reason that HEMA diagnostics agreed to be "acquired" was to gain access to Generex's ability to raise capital through issuance of shares. It's hard to see how these guys can still keep a straight face while mentioning that the shareholders deficiency is now $67 million and the accumulated deficit is $433 million. Amazing!
Update :) Stockjedi gave up the "professional trading " and he is making babies instead,endless and getting fat..( i wonder how much he lost on this and others) and Stephen Frazer aka tc2000chartreader still pumping this thing :) Rich Steffens is hiding still :)
Just sent an email to these crooks....didnt know it was going to delete itself on their contact email...I was going to copy and past it here for all to see. Should have copied it before hitting the send button...:-( Did fervently wish jail time for them all...Wishful thinking maybe, but I feel a little better for having sent it.
OK so I'm lost. Sorry for my ignorance, but hopefully someone can explain to me what happened. I bought 25,000 shares in 2014, and decided to sit on it for a few years. I'm not really an investor, so for 1K, I figured I can forget about it for a few years. Well, now I decided to look into it again... and am lost. The price of stock skyrocketed, but my shares dropped to 25 from 25,000. I feel like Rip Van Winkle now lol. What did I miss? Thanks
Latest Form 8-K shows the scam continuing.
What an interesting coincidence. Apparently Mr. Moscato and Mr. Salvo made "cash advances" to the company "to permit it to pay the initial $500,000 deposit to Emmaus Life Sciences, Inc." And how did the company choose to reimburse these two fine upstanding gentlemen for their immense loyalty, you may ask? They did it by issuing shares of the new Series I preferred stock sufficient to "retire the Company’s indebtedness to Messrs. Moscato and Salvo". This is the same Series I preferred that I spoke about in a previous post. It gives the holders a one-time special right as follows:
The Series I Preferred Stock, when issued, shall have a special one-time voting right. At the first meeting of the Company’s stockholders following the initial issuance of the Series I Preferred Stock, the Series I Preferred Stock shall be entitled to vote on (i) the election of individuals to serve as members of the Board of Directors, and (ii) any proposal to increase the authorized number of shares of the Company’s common stock. The Series I Preferred Stock, as a class, shall be entitled to cast a number of votes on such proposal equal to fifty percent (50%) of the total number of votes entitled to be cast at such meeting (determined as of the record date for such meeting) by all other outstanding shares of the Company’s capital stock.
So, if I understand this correctly, the company has given Messrs. Moscato and Salvo additional voting power to basically do whatever they want at the next shareholders meeting with no chance for other shareholders, (i.e. US!) to stop them. Wow! These guys are getting pretty good at this! Instead of selling the Series I preferred to an outsider they simply gave some of the Series I to themselves! So, of course they're going to re-elect themselves to the Board of Directors and then vote to increase the number of outstanding shares. At that point they will start selling these shares to enrich themselves and start the cycle (which has been going on for years) all over again. Amazing!! Can't wait for word of the next "acquisition". Maybe Google or Apple?
Looks like they cancel the whole thing,like always..no surprise here!! "The closing for the sale of Series I Preferred Stock was scheduled to take place on April 17,2017. The Purchaser failed to close that sale" " On April 12, 2017, Dr. Yutaka Niihara, Chairman and CEO of Emmaus, resigned from the Companys Board of Directors."
The whole thing starts all over again ,as it was expected,nothing changed :SPECIAL MEETING OF STOCKHOLDERS TO BE HELD JUNE 7, 2017 to vote to elect seven directors,to increase the authorized number of shares of common stock from 2,450,000 shares to 750,000,000 shares etc. This is a very simple criminal activity,running by with not very sophisticated people. No sign of a legit company ,any scientific research or serious business.Just creating shares from thin air and dumping open market .Well, should i vote with all my 5 shares left? :o))
Such a garbage company. I wonder why no class action suits were ever filed when they indicated that they had gov't approval to sell Oralyn in India? If they really did just get $115M in new financing, I want my 7k back. At least when I had 15,000 shares, there was always a hope they would run up to 10 cents, now my 15 shares aren't worth the effort i spent typing this.
The stock seems to be nothing but stock manipulation having people buy a bunch of shares only to constantly do reverse splits removing peoples shares then throw new shares on the market to sell only for the price to drop again of the shares causing even the old shares to drop price once again and repeat . Just a way to get more sucker investors to waste money on a stock that continues drops back down . As they continue to lose value for all old investors that have to watch as their shares go away as new ones are made and the price drops again after the reverse split .
No volume, not even their elite are trading it, did this company turn their back on the wrong people only too be protecting the big by traders(trade it short, trade it for their own profit). The part that strikes me odd as hard too believe is that the elites are not even or weren't strong enough to do what it took to move the stock and I believe it may be because they didn't want too and still don't, dual personalities so to speak... and for some reason they are under the spell probably thru information being fed too them all along as the company had been planning to axe the retail sharholders: which is a pure travesty in life and as malice as it gets. I think the elites are feeling sick about all this actually and its showing as this situation sets in on them and all the people who were ostracized by this group of people who call themselves an elite breakthrough company. With no leash they can and I believe they will continue too do just as they please screwing people till the day is long , I wonder if the elites they trapped knew about the rs 1000-too 1 shares????........The failure on the company wasn't the work of the shareholder, and their lucky they weren't in a suit for their concoctions they spewed still should be IMO now especially after taking their vicious wrath out on the retail shareholders which made even completely innocent people victims!!!!!! Generex made their own bed all along and they always wanted or said they deserved silk sheets but they sure made alot of noise as I would call it but never resulted in any truth more or less so how is a shareholder too blame for their bedding??????????!!!!!!!!!
You forgot to mention the DIRTY TOOL RS 1000-1 meat grinder they dropped on us. Strictly looks too me as their agenda is to process people and after they know there broke throw them away and get a new bunch all supported under the wall street platform. They need too be on a leash!!! Its how to handle them on the platform so they don't take advantage as its quite frequently observed, and most people don't see the half of it!!!!!!! It appears the monetary rulers think their are no boundries and that they can do to anyone what they please, break you throw you away makes no difference too them they believe the money they have created only belongs too them!!!! In this day and age I see no reason for people too put up with it, lifes in way to fragile a condition, besides many of the monetary harvestors just pile millions upon millions or billions upon billions for greed anyway!!!!!
LOTS OF BIG TALK FROM JOE MOSCATO & MARK FLETCHER...19 YEAR HISTORY OF FAILURE & NON-STOP PUMP JOB BOGUS PRS COSTING BAGHOLDERS UP TO A 99.9% LOSS FROM $24.88 PPS ON 9/06/00 ALL THE WAY DOWN TO JUST .002 PPS ON 1/03/17!!!!!!!!!!!!!!!!!!!!
THE JAPANESE GUY FROM EMMAUS LIFE SCIENCES WAS EVEN BRIEFED ON THE MYSTERY EVALUATOR THAT VALUED ANTIGEN EXPRESS AT $300 MILLION ON 1/04/11:
GOOGLE ANTIGEN EXPRESS...IT'S NOW LOCATED IN SOMEBODY'S HOUSE AT 33 REDWING ROAD, WELLESLEY HILLS, MA 02481!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Generex unveils strategic development plan, including Antigen Express spin-out
USA-based Generex Biotechnology (OTC Bulletin Board: GNBT) unveiled management's strategic development plan for the company's future growth at a press conferen
Christopher W Bunn
Why the run up today
Generex Announces $115M Convertible Preferred Stock Financing. Just reading this and the numbers they give for their financing is so funny. 11:30 on Friday and a total of 600 dollars of stock has traded.
01-31-13/10:00 a.m. ET (Adam Mosridge): I just wanted to ask the status of the spinout of Antigen Express. It’s been expected for the last year or so. Mark Fletcher: ..But as we explored funding mechanisms for the spinout and considered the key component of valuation, it became clear to us that if we permitted the clinical program for the vaccine to mature, we would be able to achieve a much higher valuation for the vaccine and for Antigen Express generally. The higher the valuation the greater the benefits of the spinout to Generex and its stockholders." But NOT $300 million,not more..but zero dollars!! And zero for the shaholders NOW!Make it worse,4 years later the total broke GNBT "buys" a worthless company for the same amount,close to $300 millions! Wow!
Today is a good day? No?
Is the New Generex is actually a tax haven? Not a research institute for sure.More like people claim they invest their money in companies (all of them worthless or not existing).Not far fetched idea ,after all the repeated securities fraud..What is next?They will "visit" shareholders?
Love those special "one-time" voting rights for the series I preferred stock.
Gives the holders a vote equal to 50% of all outstanding shares for voting on the question of increasing the number of authorized shares. And they promise to vote in favor of managements' proposal to increase. So, in a nutshell, between the reverse split and this "one-time" voting right, we, the old shareholders no longer have the ability to block anything that management and its cronies want to do. Of course we knew this was coming, but now it's official.
By the way, as a result of the R-S I'm now the proud owner of ONE SHARE of stock. It's like sitting at a table with a bunch of rich, high-stakes poker players and having one chip to bet with. The good news is that I'll be getting cash for my fractional share after the R-S so I could always use it to buy a scratch lottery ticket. Come to think of it, I stand a better chance of coming out ahead with the scratch ticket than with Generex. Is this a great company or what?!!!