Gnarlyman
5 months ago
This company is toast, sorry, they sold the lab according to the filing and only have the 2 officers as employees accumulating salary debt.
All the drugs they pimp haven’t changed. And they still haven’t completed the Phase 1 FDA Pre-IND submission. The can’t afford it.
From filing:
We are currently identifying potential contract research organizations and clinical trial centers to conduct the Phase I/II(a) human proof of concept study, which is estimated to cost $6,500,000. As of the date of this filing, however, the Company does not have sufficient funds to complete the Phase I/II(a) study.
Subject to the results from our Phase I trials, we plan to submit an IND to the FDA for RCC-33 with the clinical protocol for a Phase II double-blind placebo controlled clinical trial evaluating RCC-33 in patients with CRC at various dosing levels versus placebo. The outcomes from the planned Phase II human proof of concept trial will inform our decision regarding further steps in the clinical development of RCC-33.
surf1944
6 months ago
There has been no increase the O/S count for months, but I believe that may change soon, that was likely the note holder selling yesterday.
Market Cap Market Cap
342,225
04/04/2024
Authorized Shares
900,000,000
03/28/2024
Outstanding Shares
31,111,352
03/28/2024
Restricted
733,640
03/28/2024
Unrestricted
30,377,712
03/28/2024
Held at DTC
30,367,900
03/28/2024
Float
4,196,841
05/26/2023
Gnarlyman
7 months ago
We had this discussion before, 3i cannot hold more than 9.99% due to the blocker.
They only hold and file a 13 when they create enough shares in the O/S through their LOAN conversion dilution to the float.
So, 3i converts some to the open market then keep some to maintain their 9.99%. The rest covert to whoever will buy them over .01 for the most part. Usually its when the price organically starts to rise because they manufacture the subtle quiet period between cycles.
Either way, unless CNBX starts making money and plans to release info, the debt holder will maintain this YO-YO cycle, so just play it when able.
Based on remaining debt, 3i will convert probably 150-300M, just a guess. Could be less or more.
At least 3i hasn’t asked for another promissory note for failure to pay.