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R2 Can you clarify Lorraines email address. Cheers Clem
HI R2r I have emailed jenene and will also now contact Lorraine and tell het im in the same predicament as you. I will keep you informed Cheers Clem
TD Direct sorted my shares out in 3 hours. That's after telling me I couldn't trade them for 2 years, just teeeted them and then it got sorted
r2r - good for you for putting the skates under these people. They happily take outrageous fees for trading obscure markets but will do nothing to help customers unless pressured. Someone has been dragging their feet it seems. II is putting the blame on the US registrar but why weren't these documents sent years ago?
Where it's overkill I don't know however II are annoying me, I now have... Justin Romanowski - Vice President - Jenene Thomas Communications, LLC Lorraine @ Financial Conduct Authority Both are looking into this for me and will advise on the best way for me to proceed (or at least confirm that II aren't mucking me around!).
Once XBIO has a profit making outlook we will suddenly be tradeable.
TDdirect are going to be II soon so thanks for chasing them as I am likely in the same boat.
They have advised that we have now sent documents to the US registrar to get these shares transferred into our International Custodians name. Once this has been completed we should hopefully be able to trade the shares. Currently we are unable to transfer these to a Paper Shares. However this option would not suit, as the paper shares have not been able to be traded since 2006. Neither are we able to transfer these to another broker at this time. Please be assured, that we are doing everything possible to expedite the process, but it could take a further 2 months before these shares can be traded.
I went to a really emotional wedding last week. Even the cake was in tiers.
Update having spoken to their (II's) customer services again, they have said.... "The US Registrar will not transfer the shares from the PNK market to NASDAQ so we are unable to trade them" Essentially they have said their is nothing they can do to either allow me to trade these shares (should I want to) or transfer them to another broker who can (which I really do want to).....
Clem, I am in exactly the same position and am at a loss as to what my next steps are. My holding with II shows that XBIO is still listed on the PNK market. I rang the other week and got almost exactly the same response, "still awaiting the Medallion Guarantee and until that is sorted there is little we can do". What worries me most is that I have a very similar message from 2 years ago that said exactly the same thing and again didn't provide timescales.
So now, especially for our long-term shareholders, I’d like to provide an update on our polysialylated EPO project ErepoXen, being developed for the treatment of anemia in chronic kidney disease. After completing three patient cohorts of our Phase 2 clinical trial and following our November fundraise, we decided to focus our efforts where we believe we can best add value. And that is on our lead internal candidate XBIO-101, which will be reviewed later in this call and about which we are really excited. The ErepoXen project was always intended to be an out license opportunity, and we feel we have sufficient data with our three completed cohorts to attract the partner if there is a partner to be found. We have shown that our technology works. We see a dose response that corrects hemoglobin levels with extended half-life in CKD patients, which is exactly what we set out to demonstrate. Meanwhile, our strategic partners and shareholders Pharmsynthez and Serum Institute of India continued to pursue development in their markets. And if they are successful, we get our royalties from their sales. Now, I’ll turn to PolyXen and our collaboration with Shire on SHP656 or polysialylated Factor VIII. Shire continues to advance this important project, which is completing its Phase 1/2 study. We expect top-line data from Shire Q2 of this year. Scott and the Xenetic team have done an amazing job with this partnership, which started with Baxter and then migrated to Baxalta and now Shire. One of the reasons, we are all so excited about this opportunity is that we really believe we have the right product for the right market with the right partner at the right time. Our agreement with Shire covers a series of novel polysialylated blood coagulation factors, including SHP656 that utilize our PolyXen delivery system. Shire is the market leader in the category with well over $3 billion in sales and the market is substantial. By the time SHP656 is launched, the global hemophilia market should exceed $10 billion. In addition to being a great strategic partner, Shire is also a significant investor in Xenetic having invested $13 million to-date. I already mentioned that Shire is completing a Phase 1/2 trial and the data readout is expected in Q2. If the trial is successful, we expect Shire to move into a Phase 3 trial this calendar year, at which point we believe there will be much more visibility into this projects and its potential impact on Xenetic from our existing shareholders as well as prospective investors. And this is one of the main reasons that this year could be transformational for Xenetic.
As of December 31, 2016, Xenetic had $4 million in cash and cash equivalents; this is excluding the Shire milestone payment. So, we have capital to hit on our Q2 clinical and license inflection points including the Phase 2a data readout from Shire. Now, the NASDAQ listing enables us access to a whole pool of capital that we did not have previously. And this is from groups of investors called fundamental investors that are the real drivers of shareholder value in the biotech world. This is important since in all likelihood, we will be seeking to access the capital markets over the course of this year. Now, the three headed execution strategy on creating shareholder value is being opportunistic in evaluating strategic financing options; potential licensing revenue from existing shareholder relationships; and leverage the positive data to execute more PolyXen like partnerships for our drug delivery platform technology. Now, the business model is quite simply, leverage off of the platform technology to seek or leverage non-dilutive capital to execute further and Serum Institute of India like deals. So, Shire and Serum Institute of India like deals is what we seek further from our platform technology. And this is to fund our proprietary oncology pursuits, our therapeutic developments with the end goal of leading to a market launch on the oncology programs. So that’s the main business strategy for the Company.
put pressure on your current broker by saying you'll speak to the Financial Conduct Authority in London, under whose purvue I'd expect your broker to come - https://www.fca.org.uk/contact
Clem - That sounds ridiculous, they must be able to give you some idea of timescales. And why are your shares held hostage by this Fund Custodian? I'd demand some answers from whoever this is - most of us have not had these issues once we listed on NASDAQ. If getting tough with them doesn't work, I'd get in touch with the NASDAQ regulator in the US, and at the same time XBIO's PR/IR people - Jenene Thomas Communications, LLC. Jenene Thomas T: 908-996-0239
Hi I am trying to move my holding from III to Iweb and cant get the certs off them see message below. ear Mr Higham, Thank you for your secure message dated 6 April 2017. We have been advised that in relation to your transfer to iWeb, we are unable to transfer your holding in Xenetic Biosciences as it is currently held in the Residuals depot, which means we are unable to trade the stock, either on your account directly or by transferring to another broker. We are currently in discussions with our Fund Custodian to make this share available to trade, however this involves discussions for what is known for a Medallion Guarantee to be approved to allow trading to take place. Unfortunately at this time we are unable to provide a timescale for this process being completed. As such, we are unable to move your shares to iWeb at this time. I apologise for any inconvenience this may cause. Should you have any further enquiries, please do not hesitate to get in touch again. Our response time to secure message or email is usually 1 working day, although in times of high volumes we may take up to 5 working days. Yours sincerely Anyone know the name of the company that handles investor relations for XBIO in the Uk they appointed a company but I cant find the email they sent me Cheers Clem
cfh - seems to me the first thing you need to sort out is how many post-consolidation shares you own - is it 10,000, with a present value of in excess of $40,000, or 10,000 ÷ 33, with a value of ~$1300? Only you, by checking your records, can determine that. Or, if you have no records, your broker at the time you bought. Perhaps that is the place to start looking for advice what to do next. Are you certain your original broker cannot trade the shares, now they are NASDAQ listed?
I actually feel more relieved than disappointed.
I think I know what you mean.If my empire certificate stated 10,000 shares,then the reverse stock split(33:1) upon nasdaq listing would have massively reduced my holding.My apologies for misleading everyone.
I never recieved my purple bordered emipire certificate.However,a communication from the registrars who were dealing with the posting of the certificates stated I had 10,000 shares in Xenetic Biosciences Inc. So I assume my purple bordered empire certificate would have said 10,000 shares.Thanks
Lord, CFH - I guess it depends on WHICH consolidation you mean. If you have 10,000 on Nasdaq it means you had many many many more than that on AIM, and that, for a few days last October whilst still on OTC, your holding would have been worth a mind boggling amount! is 10,000 what your purple bordered empire certificate says?
Correction : I should have added that the chief financial officer at xenetic ignored all of my e-mails,thats why I dont think he will be particularly helpful.
I did not pay much attention to the conversion to the OTC transfer.I do remember being somewhat livid that faithfull UK LTH's (I have been in since the early lipoxen days) were being 'dumped' by xenetic.As I did not recieve my new share certificate,I did not know how many shares I owned.When I did finally check the OTC share price they were 38c. and I thought my holding was not worth a great deal.When I recieved the four legal documents from Empire Stock Transfer inc. I read through the forms and it all went over my head.This coupled with the fact that a number of the documents required witnessing and stamping with a notarial seal???? made me think it was not worth it.I then thought that there may be some form of corporate activity in the future that would lead to new certificates being issued,so I thought I would sit it out.When they announced they were listing on the nasdaq and at the same time undergoing a reverse stock split,I thought they would issue new certificates to reflect investors new holdings.They obviously did not.I have checked on the sp on the nasdaq every now and then and have recently noticed the sp in the dollars.I assumed that they were being traded in blocks of ten as are SUMMIT corp.So it was a combination of surprise and horror when you told me how much they were worth.Looking at the application documents again,I still think how I am going to supply the information they require or who is going to witness and sign them.I don't suppose yourself or somebody outthere knows of an alternative way of obtaining a new certificate.I thought of ringing the chief financial officer at xenetic myself and explaining my situation.However,as I have e-mailed him over 8 times during the past few months,I do not think he will be particularly helpful.Thank you.
cfh - are you seriously so nonchalent about your holding? At last night's close of over $4, if you have 10k shares after consolidation, they are worth $40,000 plus. So yes, get your holding transferred to a UK broker who will trade NASDAQ stocks (assuming you live in the UK).
After the move to the OTC, I never recieved my share certificate.I was told I would have to apply for a new one myself from Empire stock transfer in the USA.The process for obtaining a new certificate looked incredibly complicated so I kept putting it off.I only own 10,000. post consolidation shares,can anybody advise me as to whether it is worth applying for a new certificate and how much my holding is worth.Thanks