Only a year after being registered and having an importation license issued. They are certainly pulling out all the stops on this one ............ Reminds me of the story of the sloth that was mugged by a group of snails. The police asked the sloth if he had seen who did it. He replied, "no, cos it all happened so fast"........ LOL
I'm hopeful that the company (JM/JG) will not want to make any CBD agreement with the SP at such a low levels due to magnitude of dilution involved. They surely would want at least 0.25 as originally planned. The owner of the 10.6mill buy order surely would be well P'd off if RPG decided to do that now.
I'm sure they were just trying their luck given the constant downward spiral, but with hardly any sellers, they are now having to buy directly form broker storage who wont be wanting to just give them away. Hopefully you are right about tomorrow. Maybe things are beginning to look up with the oncoming end of phase II in December and projected commencement of phase III in Q1 2020. We still have a product that will corner the market in the US. One just has to look at all the companies currently getting in on the ED circuit with gells, creams and you name it, but there are not that many developing any PE products which leaves only Fortacin (apart from some vibrating device which will only give "white finger"(look it up) or is that white dick....LOL) and one or two substandard OTC products.
The FDA gov website https://clinicaltrials.gov/ct2/show/NCT03578783 was updated on the 5th Sept. Now indicating phase II study finish date as 31st Dec 2019 in line with what was announced.
At least some progress even if it was just to switch on the PC and upload the new date...LOL
Thanks for posting. All very interesting indeed.
For an automatic T/O they would have to hold at least 30% of the stock, however. That doesn't mean it will be approved since, and correct me if I am wrong, but don't they then need a 75% majority vote for it to be passed? Unless JM/JG and their followers approve, which I am sure they wont (unless the T/O bid is probably in the region of 300 to 500 mill USD), surely there is no point in trying to pick up a couple of million here and there ?
I am sure you know a lot more about theses things than I do, so I could be just thinking and writing rubbish.... ;-)
If anyone is interested:
Appreciate your information regarding this and as myself and The.Italian had posted before, there does seem to be some jiggery pokery going on given, as you write, the number of 10, 20 and 30k sells which have slowly and consistently walked the price down, but as the The.Italian has noted. There cannot be many posters here who have access to the order book, myself included. Not that I suppose we couldn't get access via aastocks or some other web entity if we wanted too. Unfortunately, like probably many here, I am not interested in doing so just for this one share which I hold in HK.
Given what you write about ML being pulled up and fined n Korea for such practices, then surely a tap on our managements shoulder is needed. I would do this myself, but not having anything to back it up would make it a pointless exercise.
If I know anything, I post here since every investor has the right to know whatever information is available. As such I currently don't know any more than anyone else.
As to your speculation on why the SP has dropped (like a stone), I am afraid that although I would embrace anything like that rather than dilution, there are not enough shares willing to be sold at such a low price for them to be bought. Even the brokers who must have been mopping up the shares these last few weeks will def not be selling for less than what they bought at - meaning most larger sells outside of the cover for any buys must surely be more than 0.25, at least. They are only interested in making a profit.
Interestingly at about 15:50 the chart indicates that the SP dropped to 0.165HKD, but since there were no trades, someone must have slipped and fallen on the down "Red" button, promptly got up and pushed the "Green" button to bring it back up to finish at 0.167HKD. I cannot think of any other reason it moved........ 10K shares for the whole day.
I wonder if there will be an announcement this evening (b4 you ask. No other reason other than speculation).... :o)
Ahhhhh I C.
From what I remember there was one buy at 0.159HKD (or was that a sell ?)....... I wonder if the price has been dropped so fast to trigger stop losses and/or encourage some of the remaining overseas (UK) LTH's to sell up to fill the boots of the golden diggit.................. which didn't work. Most of those hardened LTH's that are left will either be saying goodbye to their investment or will eventually catch the gravy train....hopefully the latter .... LOL
Errrr, I am sure like most, no I didn't....... Was there really such a high volume buy yesterday. Are you sure you are not getting confused with another share.... :oO
Golden finger.....cough....... more like pork sausages...........With all the Golden Fingers that were flying around in the past, why didn't they get a golden boot n help vote JG out ?
Sorry, went for a run :-)
The only ones who gain are the brokers since they have no care if shareholders lose or gain (also in this case, JG gains as each month he trundles his wheelbarrow to the bank with his I'll gotten gains no matter what the company is worth). They are now buying most of the shares as people sell out. I no longer believe there are any majors holding shares otherwise something would have been done. They would have at least voted against reelection of JG, which they didn't. All the shares, apart from those held by management are held by pi's and traders. Its also interesting that Dr Mike only has a small holding even though the company and product were his babies. He was awarded an incentive of just over 1.6mill shares in old money (PLE) and as a retainer, but nothing since. Why doesn't he hold a more significant amount ? Just something to think about there. AIMHO ;-) anyway we are where we are because the brokers think there is very little value in what we have. EMA approval, 3 license agreements and soon to enter phase III all worth next to nothing.
Not wanting to throw a spanner in the works, but I am sure it was 40cents a share which is closer the the upper band. And this figure, from what I remember, was verified by POM in an email to JM, however. How such a large value can be placed on a listing god only knows. But as The.Italian has pointed out and I also have posted before, this value will only have value if there was indeed a TO and some accountants are involved. As to whether an SP truly reflects a companies worth is indeed another question. Many a company have been taken private (and I am in no way suggesting it would happen here) because it was felt the market did not give a true value. It all comes down to what someone is willing to pay for a share and the manipulation which brokers add. How does a share drop over 50% before opening when there are no trades ? Its mark down by brokers who think they can put a value on a company. How often do we see a huge drop on opening (and I am referring to other companies)) only for a share to bounce higher. Its a very fickle business driven by sentiment and very little to do with a companies true worth, which is only shown when a company is bought or sold. Its just what anyone is willing to pay or sell at. All in my humble opinion if course ;-)