quote:Originally posted by keithNJ: is it just me ,, why is it when you sell a stock 4 hours later it goes up 33% lol
I thought that I had convinced you Keith
I think that it will open at .03 just a small gap but I bet it runs big in the first hour or two
I got the AH quote from TDAMERITRADE, It doesn't usually do that but it was showing a increase in volume and the price went as low as .028 and then bounced back to .0294
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Well I don't like that they released more shares but I do like the reason that they did it. They are paying off cornell Capital and they are like the reaper to any penny. Getting rid of them will allow this company to grow much faster long term. As far as the amount of shares that they have out I think that it is right around 1.5 bilion shares if all notes are traded in for the purchase of shares at a price of .02.
1.5 bil max issued is not that bad for a penny like this... Last year it had almost 400mil shares of stock out and traded around .70. So about 4x more shares outstanding.
70/4= .175 (all else being the same)
This was hard to find and as we know sources are not always right so do your own DD and take this as opinion NOT fact.
Please correct me is you find other numbers here or are in contact with the company.
posted
Sure it could have a correction! It just deprnds what the big dogs that converted into common stock do. I have no idea where this is going but I think that the general idea is that it will test the gap down of 11 days ago.
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fair enough and the LOD went down to .024, Damn. I think that we will start the uptrend soon though and definetly be positive for the day
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IMNR - IMHO A very rare longer term hold on the OTC. This post encompasses my opinion and position in IMNR. Do your own DD as always.
The bad news: Company was co-founded by Jonas Salk in 1986 with the intent of boosting the immune response to fight the AIDS virus.In the last 20 years they have not produced any commercially marketable drugs nor have they successfully completed a phase III trial. It looked like they were close in 1999 but the phase III was discontinued due to flaws in the clinical trials. They lost alot of credibility with the FDA on that one. They were delisted from the NASDAQ in November 2005 and entered into toxic financing with Cornell to fund operations which of course kills the stock price even more.The company has been a perenial loser for 20 years.
Well, that sure paints a rosey picture.So why would anyone want to buy this stock especially now?
When considering holding a stock versus flipping one, I always follow the money. The company started a private placement funding plan in January 2006. They filed several SEC filings detailing plans to offer millions of dollars worth of shares with warrants executeable at .02 per share. Its amazing the share price stayed at .10 after the S-1 filing on April 11.Anyone who owned the stock at that point should have been smart enough to sell. The warrants are a solid .02 offering with no ratchet or antidilution clauses I can find like you would find with typical SEDA financing AKA Cornell type financing.To date investors have converted over $5,000,000 worth of warrants at .02/share.In June they are still converting hundreds of millions of shares at .02 even with the market price being slightly over .02. Thats alot of shares which adds to the market cap and overall dilution, but thats also alot of big money holding common shares at .02. Consider also that insiders are exercising options at .02 per share. Thats a big gamble on this company or is it they know something we don't?
What I have to say now draws a comparison to XKEM. Below is a copied section of page 32 from XKEMs 10QSB filing in May 2006 addressing conversions.
(4) In the period from January 1, 2006 through March 31, 2006, holders of Xechem debt converted Xechem debt (in the form of principal and interest) in the aggregate amount of $2,477,000 ($2,329,000 of which is principal and $148,000 of which is interest) into 507,475,000 shares of Xechem's common stock (exercised at conversion rates between $0.0025 - $0.0075 per share). Subsequently, in the period from April 1, 2006 through April 21, 2006, holders of Xechem debt converted Xechem debt (in the form of principal and interest) in the aggregate amount of $242,000 ($239,000 of which is principal and $3,000 of which is interest) into 76,793,430 shares of Xechem's common stock (exercised at conversion rates between $0.0025 - $0.0075 per share). The total conversions from January 1, 2006 through April 21, 2006 represented approximately 61% of Xechem's then issued and outstanding stock.
Notice the large amount of conversions before the run and at a much better discount than IMNR.
Personally I have been accumulating shares at .022, .0227, .0229 , and .03 with the vast majority of the 900K shares bought at the low end. No exit price in mind, but I think the bottom should be .02.
Bottom line: There's alot of money in at .02 and it looks like they are not being scared off by the current low price. Maybe I'll kick myself for not flipping this thing this morning and taking the profit, but I like this one better than anything I've seen in a long time. How often does the little guy get a chance at shares which are virtually the same price as the big guys are buying at. It will take patience, and I don't expect alot of price movement right away, but I have a feeling the big money doesn't like to lose as much as I do.
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Anyone want to guess what kind of day we'll have? With all the volume we've had in the last two days you think we'd be much higher. I guess it could be the day traders/flippers. We shall see in about 30 minutes. GLTA
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Item 3.02 Unregistered Sales of Equity Securities.
As previously reported, in 2006 we closed a private placement of secured convertible notes and warrants to accredited investors. The notes had an aggregate original principal amount of $8,000,000. The conversion price of the notes is $0.02 per share. The noteholders also received a total of 1,200,000,000 warrants to purchase our common stock at $0.02 per share.
On June 21, 2006 four noteholders exercised the first tranche of their warrants at $0.02 per share by paying the total exercise price of $352,500 for 17,625,000 shares of our common stock.
On June 23, 2006 one noteholder exercised the first tranche of its warrants at $0.02 per share by paying the total exercise price of $225,000 for 11,250,000 shares of our common stock.
On June 23, 2006, two noteholders converted $400,000 of outstanding principal balance plus accrued interest of $9,600.00 into 20,480,000 shares of common stock pursuant to the terms of their notes at $0.02 per share.
The 28,875,000 warrant exercise shares and the 20,480,000 note conversion shares and were issued to the accredited investor noteholders pursuant to the Securities Act Section 4(2) and Section 3(a)(9) registration exemptions, respectively.
As previously reported, our placement agent in the 2006 Private Placement, Spencer Trask Ventures, Inc. ("STVI") is entitled to receive $0.01 and an additional seven-year placement agent warrant for each five noteholder warrants which are exercised. The exercise price of the additional placement agent warrants will be at $0.02 per share. STVI, which is an affiliate of Kevin Kimberlin, who is a director and major stockholder of us, has allocated a portion of the additional placement agent warrants to various brokers and employees and its parent company. As a result of the exercise of 28,875,000 noteholder warrants as described above, STVI became entitled to $57,750 in cash and 5,775,000 additional placement agent warrants. These additional placement agent warrants will be issued to STVI and its assignees pursuant to the Securities Act Section 4(2) registration exemption.
After the June 23, 2006 note conversions, the aggregate outstanding principal balance of the notes is $6,707,500.
After the June 23, 2006 warrant exercise, the aggregate gross proceeds from the private placement warrant exercises is $5,421,375.
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Sold all of mine at .024 this morning. Was reading filings last night and found out that a reverse split was approved in the April 11 meeting. Changed my mind, didn't want to be in a stock with a looming RS.
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On April 11, 2006, we held a special meeting of stockholders, in which we obtained stockholder approval of an amendment to our Certificate of Incorporation authorizing an increase in the number of authorized shares of our common stock from 170,000,000 shares to 3,500,000,000 shares. On April 11, 2006, we filed the amendment to our Certificate of Incorporation increasing the number of authorized shares of common stock to 3,500,000,000. We also received stockholder approval to adopt a series of ten alternative amendments (only one of which would be implemented) to our Certificate of incorporation authorizing a reverse stock split in which all outstanding shares of our common stock would be combined at ratios ranging from 1-for-10 up to 1-for-100, with in each case the number of authorized shares of our common stock being decreased in the same ratio.
In many other filings they mention the increase in shares but this is the only one where the R/S is mentioned.
Have never had a positive experience from an R/S. stm
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