-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Hay! Bond how did the meeting go waiting to hear Ive been a long for a long time got in and holding since may. always read you guys post nightly Thanks.
They did not get all 5 billion shares they only increased the a/s to 3.5 billion.
They did say that in 2 years the revenues were exsepcted to be in the billions. All is moving ahead as planned.
Folks I think this will be a long term play.
I personally have made the decision to have some shares tucked away for 2 or more years. That is what I am getting out of this it could change anytime but as fir now that is what I am doing
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
Is the increase to 3.5 immediatly on the open market and if so on what date??
or is the difference between the current outstanding of I think about 1.9 and the 3.5 the shares they wnat to use to as staff incentives?
Posts: 551 | From: FL | Registered: Apr 2006
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I think they are holding them for staff ATM, but could use them for other things if they need the $$ in the future. But I believe they said they were not gonna dilute, as of yet...
Posts: 723 | From: MotorCity | Registered: Jun 2006
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The extra shares are there to attract personel and for emergency.
The fact is the if they are there it most likely be considered by investores as dilution IMHO and that will be for a time a negative on the pps
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
Anger will not come close to encompassing what I will feel if they dilute.
All we have heard for months from Burg is "non-dilutive loans." They got the first one. If they dilute, this company has no concern whatsoever about the shareholders. They have time and again proven that their goal is to get the drug out. Great. That's what we all want, but you can't do it at the shareholder expense.
posted
I know that this post is old hat but it does state there reason for the increase in the a/s and the management approved less than they could have to help with investor concerns nad I hope they are telling the truth
Press Release Source: Xechem International, Inc.
Xechem Announces Results of Annual Stockholder's Meeting Tuesday October 24, 12:19 pm ET
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Xechem International, Inc. (OTC BB: XKEM - News) announced today the results of its Annual Stockholder Meeting, held earlier today at the company's offices in New Brunswick, New Jersey. Proxies representing a majority of the shares voted at the Annual Meeting were cast in favor of management and its policies and actions since the previous annual meeting, including the resolutions brought before the shareholders for a vote. ADVERTISEMENT
Xechem's Chairman and CEO, Dr. Ramesh Pandey, updated shareholders on developments at the company, with emphasis on the strides made by its subsidiary, Xechem Pharmaceuticals Nigeria, Ltd., in commercializing NICOSAN(TM), its Natural Herbal Drug for the prophylactic management of Sickle Cell Disease (SCD). Included in Dr. Pandey's presentation were slides showing the progress made in the construction of the new state-of-the-art commercial scale production facility which will adhere to the cGMP standards at its premises in Abuja, Nigeria, presently slated for completion by mid to late 2007. Dr. Pandey also recounted for those in attendance the extraordinary transformation that has occurred since 2002, when Xechem was developing the drug with borrowed equipment in temporary lab space. Now, he said, Xechem has built a modern, cGLP standard pilot facility from the ground up that rivals any in Nigeria and is currently producing and selling limited quantities of the drug at the highest standards. According to Dr. Pandey, "When you consider how far we have come with the limited resources available to us, including receiving approval from Nigerian drug regulators in July of this year and our success in bringing the drug to market, I am very pleased with what we have accomplished in a relatively short period of time. To be sure, much work still lies ahead, but I am optimistic that our progress will continue to accelerate and I look forward to delivering rewards to our shareholders."
At the meeting, the current slate of directors, Dr. Pandey of Highland Park, New Jersey, Mr. Stephen Burg, of Fairfield, California and Dr. Adesoji Adelaja of Okemos, Michigan, were all re-elected by wide margins to the board of the company. Other resolutions passed by shareholders included the ratification of the company's selection of Moore Stephens P.C. as its auditors, the adoption of a Stock Option Award Plan authorizing the grant of options to purchase 150 million shares of the company's common stock, and an approval to an amendment to the company's certificate of incorporation to increase the number of authorized shares of common stock from 1,950,000,000 to 5,000,000,000.
Board Takes Action to Voluntarily Limit Company's Ability to Issue Shares Without Further Shareholder Action
Despite the approval by shareholders to increase the company's authorized share capital, Xechem's board of directors held a special meeting immediately following the conclusion of the Annual Meeting and passed a resolution restricting the ability of the company to issue more than 3.5 billion total shares without a further vote of the shareholders. According to Xechem's Chairman and CEO, Dr. Ramesh C. Pandey, "The resolution increasing the company's authorized share capital was never a reflection of any present intention by the Company to issue shares in the amount of the proposed increase, but rather was designed to give the company maximum flexibility to respond to ever-changing events and opportunities, and to provide a hedge against unforeseen and unanticipated circumstances. However, after listening to the concerns of our shareholders, the Board was persuaded to voluntarily limit the ability of the company to issue more than 3.5 billion shares without further authority from the shareholders. I believe that the Board's action in limiting the issuance of shares will allay shareholder concerns while still providing the company ample flexibility to respond to future circumstances."
About Xechem
Xechem International is a development stage biopharmaceutical company working on Sickle Cell Disease (SCD), antimalarials, antiviral (including AIDS), anticancer, antifungal and antibacterial products from natural sources, including microbial and marine organisms. Its primary focus is on the development of phyto-pharmaceuticals (Natural Herbal Drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (named HEMOXIN(TM) in the US and Europe) for the prophylactic management of Sickle Cell Disease (SCD). With the recent Nigerian regulatory approval of NICOSAN(TM), Xechem is now scaling-up the commercialization of the drug in Nigeria and making preparations for the pursuit of US FDA and European regulatory approval. In addition to NICOSAN(TM), Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University (VCU).
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward looking statements involve known and unknown risks and uncertainties.
Contact: Xechem International, Inc Stephen Burg, Director 707-425-8855
-------------------------------------------------------------------------------- Source: Xechem International, Inc.
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Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
If you have forgot this is a Q/A post with Dr. Pandey remember queastions 3,4,5 htey are all good and you can see how things are coming together now
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Xechem Chairman Responds to Shareholder Questions Regarding NICOSAN(TM) Progress and Sales Forecasts Wednesday August 16, 8:00 am ET
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Aug. 16, 2006--The Chairman of Xechem International, Inc. (OTC BB: XKEM - News), Dr. Ramesh C. Pandey, responded today to a number of questions posed by investors and others in the business community concerning the status of its operations in the aftermath of the approval of NICOSAN(TM), its sickle cell drug, by Nigerian regulators on July 3rd, 2006. Some of the questions posed to the company and answered by Dr. Pandey are the following: Status of Production Facility
Q1: Xechem has reported that its Sickle Cell Drug, NICOSAN(TM), is being produced in limited quantities at its pilot scale facility in Abuja, and that construction has now begun on its full scale facility at the same location. When do you expect the full scale facility to be completed and at what cost?
A1: We estimate that the construction of the new facility will be completed in approximately nine to twelve months, subject to timely receipt of the required funds, and the facility will be fully operational then. Our current estimate is that the total cost of the new facility, including the cost of the required machinery and equipment, will be approximately $12 to $15 million, of which over $5 million has already been invested by the Company.
Expected Sources of Funding
Q2: What are the sources of the expected funding to finance the capital expenditures?
A2: In the past several weeks, we received a loan from NEXIM Bank of Nigeria for 150 million Naira (USD $1.2 million). The bulk of those proceeds have been earmarked for the initial phase of construction, and that work has recently begun. NEXIM has been an extremely supportive lender that likes very much what Xechem is doing in Nigeria and has expressed a strong interest in investing significantly more money into Xechem's operations there. In fact, advanced discussions are now underway with NEXIM officials concerning a substantial new loan, the proceeds of which would be used primarily for constructing the buildings for the new commercial scale facility. We are also continuing to aggressively pursue an approximately $8 to $9 million loan through the U.S. Export-Import Bank Loan Guarantee Program.
Q3: Can you provide a report on the status of the Ex-Im loan and the likelihood that it will close in the near future?
A3: As with any significant commercial loan to a company at our stage of development, issues arise during the course of negotiation and due diligence that can affect the timing of any proposed transaction. This was especially true prior to July 2006, when we received regulatory approval from Nigeria's National Agency for Food and Drug Administration and Control (NAFDAC). That approval added quite a bit of credibility to our efforts, particularly in procuring the required local Nigerian bank guarantee, and has seemed to accelerate the pace of negotiations with the various parties involved with the Ex-Im guaranteed loan. Although certainly there are no assurances as to when or if this loan will close, I believe we have satisfied all of the statutory and other requirements for the transaction and my sense is that this loan has an excellent chance of being approved in the near future.
Q4: Do you believe the government of Nigeria may step up and agree to provide financial support to Xechem in one form or another?
A4: In my judgment, the government of Nigeria has an incentive to offer financial support to Xechem for at least three important reasons. First, we have licensed our product from Nigeria's National Institute for Pharmaceutical Research and Development (NIPRD), which stands to benefit directly from our financial success through the gross royalty they will receive from the sale of our product. Second, there is no place in the world where NICOSAN(TM) is more desperately needed than Nigeria and I believe that the government has a strong incentive on humanitarian grounds to help insure that the drug reaches as many of its citizens as can be accomplished. And third, Nigeria is working very hard to improve its image internationally and to promote corporate investment, especially by American companies. The government of Nigeria knows that Xechem is being closely watched by investors and others in the business community who want to see if an American company like Xechem can be truly successful in Nigeria. For all of these reasons, I believe that the government of Nigeria would consider offering Xechem substantial financial support in one form or another under the right circumstances .
Q5: Has Xechem already approached the Nigerian government about the possibility of providing Xechem some form of financial accommodation?
A5: As with many aspects of the development of our business, until our drug was formally approved by the regulators in Nigeria, it was impossible to have meaningful dialogue concerning possible governmental support for Xechem in whatever form. Now that the drug has been approved, those doors have been opening, in some case widely, and that has been the case concerning possible governmental support. While I cannot speak to the details of those discussions or comment on the possible timing or likelihood of working directly with the government to support our operations financially, I can say that we are having high level conversations with government officials concerning a possible pre-purchase of large scale quantities of our product for distribution by the government in the country's national hospitals.
Current and Projected Sales Activity
Q6: Turning to the drug itself, have sales of the product begun and, if so, how is the drug being distributed?
A6: We have begun sales of the product on a limited basis in Abuja. Because we are producing pilot scale quantities which are insufficient to meet the expected demand for the product, we have strictly limited distribution of the drug so that, at present, it can only be acquired at Xechem Nigeria's headquarters at Sheda Science and Technology Complex (SHESTCO), Abuja. Soon, we expect to open three to four satellite offices in Abuja. These measures will last until the full scale facility is completed when we will turn to more traditional avenues of marketing and distribution throughout Nigeria and beyond. Keep in mind that once on the medicine, a patient must continue taking it on a daily basis without interruption in order for the drug to be effective. One of our big concerns is making sure that once a patient begins taking the medicine, that person will have uninterrupted access to the drug going forward.
Q7: How many patients do you expect to serve before the completion of the full-scale facility?
A7: Based on the quantities of the finished product now on hand and our current small-scale production capability, we project that we will be able to meet the needs of approximately 20,000 patients per month on an annualized basis pending completion of the full-scale facility.
Q8: What is the current price for the drug and what sales volume do you forecast for this initial period prior to full-scale production?
A8: We are currently charging 3000 Naira (USD $23) per month for adult patients and 2400 Naira (USD $18.50) per month for children. If we meet our target of supplying 20,000 patients per month on average during the first year, this will result in annual sales of approximately $5 million during this period of limited production capability. That number could be significantly higher if, as we expect, we are successful in achieving some incremental increase in capacity between now and the time the full-scale facility is completed.
Q9: Once the expanded production facility is completed, what do you feel is the market potential for this drug?
A9: There are approximately 4 million people in Nigeria alone afflicted with Sickle Cell Disease, of whom we believe upwards of 50% live in urban or quasi-urban areas where average income levels are believed to be sufficiently high to absorb the retail cost of the product. Realistically, we believe we should be able to penetrate more than half of that segment of the market over a five year period, which would result in estimated annual revenues to Xechem Nigeria of approximately $200 million at today's prices. And that is for Nigeria alone. Needless to say, down the road, we expect to generate additional revenues from sales of the product throughout Africa, not to mention India and the Middle East and, of course, Europe and the United States. Also, these figures do not take into account additional sales that may be possible to poorer segments of Nigerian society as part of a pre-purchase or other support program with the government of Nigeria.
Q10: Can you speak to the substantial decline in the price of Xechem stock that has occurred since the launch?
A10: There are many theories on that, and it's probably best for me not to address them directly. What I do feel comfortable in saying is that we have something very special going on in Nigeria right now and have unquestionably accomplished a great deal in getting to this point in spite of the many obstacles in our path. I am confident that as we secure one or more traditional bank type financings and move forward in the implementation of our business plan, things will change markedly for Xechem and its shareholders. My message to our shareholders is this: the patient investor will be rewarded as we progress toward full scale production of this historical drug.
About NICOSAN(TM)
NICOSAN(TM) is an anti-sickling drug developed by Nigerian scientists at the National Institute for Pharmaceutical Research and Development (NIPRD). In clinical studies conducted under NIPRD's auspices, the drug has shown to substantially reduce the degree of sickling of the red blood cells of those afflicted with the disease. While not a cure, the clinical trials have confirmed that the large majority of patients taking NICOSAN(TM) no longer experience sickle cell "crises" while on the medication, and even among those whose crises are not eliminated, the number and severity of the crises are substantially reduced.
About Xechem
Xechem International is a development stage biopharmaceutical company working on anticancer, antiviral (including AIDS), antifungal, antimalarial and antibacterial products from natural sources, including microbial and marine organisms. Its focus is on the development of phyto-pharmaceuticals (natural herbal drugs) and other proprietary technologies, including those used in the treatment of orphan diseases. Xechem's mission is to bring relief to the millions of people who suffer from these diseases. Its recent focus and resources have been directed primarily toward the development and launch of NICOSAN(TM) (to be marketed as HEMOXIN(TM) in the US and Europe). With the Nigerian regulatory approval now in hand, Xechem will now turn to the commercialization of the drug in Nigeria and the pursuit of US FDA and European regulatory approval. In addition to NICOSAN(TM), Xechem is also working on another sickle cell compound, 5-HMF, which it has licensed from Virginia Commonwealth University.
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties.
Contact: Xechem International, Inc. Stephen Burg, 707-425-8855
-------------------------------------------------------------------------------- Source: Xechem International, Inc.
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Posts: 6008 | From: phoenix az | Registered: Mar 2005
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Item 3.02 Unregistered Sales of Equity Securities. On October 24, 2006, Xechem International, Inc. reached agreement with Marjorie Chassman ("Chassman") regarding a bridge loan financing, whereby Chassman agrees to loan $500,000 to Xechem, of which approximately $360,000 has been funded. The note has been negotiated to convert into shares of our common stock at $0.03 per share (approximately 16,666,667 shares, excluding interest). The note bears interest at 8% and is due May 31, 2008. Xechem may prepay the note any time within six months of receipt of the $500,000, during which six month prepayment period, Chassman agrees not to convert the note. As additional consideration for infusion of the capital and if Xechem does not repay the loan within six months of receipt of the full $500,000, Xechem will issue Chassman an additional 8,333,333 warrants, exercisable at $0.04 per share for a period of 5 years. In addition, Chassman has agreed to extend the due date on all existing notes held by the Company to May 31, 2008. The loan has not been documented at this time. Upon documentation, it will be filed as an exhibit.
The Company relied upon the exemption from registration available under Section 4(2) of the Securities Act of 1933, as amended. Chassman is an accredited investor and had access to information about Xechem.
Posts: 598 | Registered: Jan 2004
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Did anyone think XKEM wouldn't hook them up? The well will never be dry.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
gimme a D !!! gimme an I !!! gimme an L !!! gimme an L !!! gimme a U !!! gimme a T !!! gimme an I !!! gimme an O !!! gimme an N !!!
that spells Piece of Sh!T!!!!!!!!!!!!!! yeah... go pieces of Sh!t !!!! :-)
good luck. this play is way 1982.
i put out a CHUNK of DD on this POS before it became the true POS that it is today. please view previous posts of mine regarding xkem (either on allstocks and/or ihub) for a full viewing on the scam that these people have their fingers on. good luck, honestly... hope and only want people to make money all the time.
-------------------- Cashing checks in two forms: Money and Reality
GLTA, The Phat Man Posts: 1236 | Registered: Apr 2006
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dollar... c'mon... you and i were in this POS from the beginning... don't you remember the huge (5 pages if you printed it out) writing that i put out on xkem and the entire Chassman Klan? i got tons of sh!t for it from all angles... everyone calling me a 'basher' and all that BS. in the end, and even 'til now with 'more improved dilution!' i still stand correct. dude, at least give me that much regarding foresight in total POS/dilution plays. i called that sh!t when xkem was sittting at .05 and on its way to .10 it eventually hit .10/.11 and left millions of bagholders after the fact. until ALL those bagholders have left, this play will never see .05 again unless the FDA gives approval or jesus comes to earth and says 'let there be nicosan'!
-------------------- Cashing checks in two forms: Money and Reality
GLTA, The Phat Man Posts: 1236 | Registered: Apr 2006
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quote:Originally posted by Redwinger: ROFLMAO, quote of the week, "jesus comes to earth and says 'let there be nicosan'!"
Or, if they get bought out, which still may be a possibility... no?
geez... thanks red... at least i'm getting some credit from a 'peanut gallery' kind of perspective. glad i'm at least given the 'quote of the week' on allstocks :-) thank you... thank you very much... i'll be here all week.
-------------------- Cashing checks in two forms: Money and Reality
GLTA, The Phat Man Posts: 1236 | Registered: Apr 2006
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quote:Originally posted by The Phat Man: dollar... c'mon... you and i were in this POS from the beginning... don't you remember the huge (5 pages if you printed it out) writing that i put out on xkem and the entire Chassman Klan? i got tons of sh!t for it from all angles... everyone calling me a 'basher' and all that BS. in the end, and even 'til now with 'more improved dilution!' i still stand correct. dude, at least give me that much regarding foresight in total POS/dilution plays. i called that sh!t when xkem was sittting at .05 and on its way to .10 it eventually hit .10/.11 and left millions of bagholders after the fact. until ALL those bagholders have left, this play will never see .05 again unless the FDA gives approval or jesus comes to earth and says 'let there be nicosan'!
i know that was a good call you did back then, and yes all the bagholder have left except me i guess, i don't see no sign of DILUTION yet, but if you say they are, probably is true.
Posts: 4112 | Registered: Jun 2006
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posted
Dollar, if the phat man says we are dead, then we are right? because everything he says is absolutely true....right?
Phat, all of the sudden you have gone from a valueable information sharer to downright annoying. Seems like that head of yours has gotten too big for your own good. I've seen your DD in the past and it was valueable. But now I see no DD , just disparaging comments. You aren't in XKEM are you? Then why are you here? Why are you on the FGFC thread? Do you have anything valueable to say other than your LMAOs? You used too, where did that man go?
posted
No we are not dead just nothing to say for a while we all know that the plan is in action and the big news now is the completion of the factory and how the orders will be handled.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
Also phase 3 is very important the final clinical studies that are taking place now.
remember we have a two year licsence to operate in nigeria. Until phase 3 is done . no problem if you doubt phase 3 results than you are smarter than all the Banks
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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Posted by: Lyteinvestor In reply to: None Date:11/6/2006 1:53:10 PM Post #of 62809
**SPOKE WITH BURG READ**
for what its worth, my friend/colleauge who also owns XKEM stock, just spoke with burg 1:45 est, in my office. Just got off the phone.
He stated five things of interest, which i heard.
1) as of today, they have not increased their O/S. remains at 1.4/1.5billion outstanding. My friend asked him "is that last O/S count and will it be different when the earnings are released soon?" Burg responded by saying "No, we are not issuing any shares. The current O/S is around 1.4/1.5billion shares"
2) there is no reason that the stock should be going down. "people call me everyday saying the stock is going down, the stock is going down"... "no reason for it".
3) Huge dilution is a lie. They have no intent to issue major amounts of shares. I repeat, Burg confirms current O/S = 1.4/1.5billion.
4) sales are just starting. they really havent begun yet. so their Q3 earnings will not be significant or anything. their sales are in their infancy.
5) factory will be up in 6 or so months he believes.
I was standing right by my friend as he called. Burg was very clear with these facts.
posted
TDWATERHOUSE not taking traded on XKEM just tried to buy internet or phone... Neg
Posts: 1101 | From: Georgia | Registered: Apr 2006
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posted
4) sales are just starting. they really havent begun yet. so their Q3 earnings will not be significant or anything. their sales are in their infancy.
Not good news. We need to show some profits (I think) to stay about .02 - .03
Posts: 551 | From: FL | Registered: Apr 2006
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