Axim Biotechnologies Inc (QB) (AXIM) Quote

Blue you asked for my thoughts on Incannex

https://www.prnewswire.com/news-releases/incannex-to-acquire-apirx-pharmaceuticals-usa-llc-301509597.html

It was only a quick read and only a thumbnail opinion.

Appendix A of this Incannex Healthcare report shows most of the intellectual property is Preclinical or Phase-1. Verséa Health might be a good fit for Incannex, but it looks like a lot of work to bring products to market.

Verséa does have both short-term and long-term projects but they definitely seems to want FDA cleared products that can be sold through their growing national sales force. Price would be a factor for a deal to be successful.

AXIM is a great fit for Verséa. Already two FDA cleared products as a foundation. At least 2 more products in the Dry Eye pipeline. Many other patents.

However in my opinion, sales are not growing fast enough for AXIM to survive much longer. On the other hand AXIM Insiders control the company. I think a stock merger makes the most sense for both Verséa and for AXIM.

With a stock merger no cash or very little cash would be needed. Existing Insiders would keep their shares and hope for a better future. Retail would also keep their shares. Insider ownership would expand to include Verséa and Insiders remain in control of the combined company.

Verséa can hopefully bring in new investment to expand the business and get CLIA Waivers submitted and approved for the AXIM products.

Just a gut feeling. I'm guessing Mr Huemoeller would need to retire his salary and become a board member for a merger to happen. Catalina Valencia may also need to retire her salary for a deal to work.

New Customer from Omaha, Nebraska.

https://www.linkedin.com/posts/vers%C3%A9a-ophthalmics_tpoctitans-tpoc-osd-activity-7209163202037714945-XALW?utm_source=share&utm_medium=member_android

Totally agree.
I think Verséa Ophthalmics will be successful, but put the pom poms away because AXIM is destroying the retail investors. Nothing to cheer about right now.

Obviously the share price is in the toilet for the insiders as well. But at least they hopefully already know what the plans are for the next few quarters.

A Billion shares multiplied by half a penny is only $5 million. The AXIM market cap is way less than $5 million right now. A billion shares can't even fund AXIM for more than 2 quarters with the rate of spend seen in 2023.

1,000,000,000×0.005= $5 million.

My hands are cut to pieces trying to grad this falling knife. It's about time we get some inside help to hold this thing up. Done bottom fishing here.

I was hoping reading the lyrics to keeping the faith by Billy Joel would give me a sense of calm... So far that hasn't worked. Wishing I had some disposable cash right now to through at this stock and hope for the best but I'm tapped out for the moment. Here's hoping that AXIM follows through with second quarter submission.

Seems like something nasty is going on behind the curtains. Shareholders are in the dark and no revenues....

Have I mentioned how much John W. Huemoeller II "SUCKS" at watching over AXIM's share value?

Next week is another week with very little wifi for me. Good luck to all.

Its always a good sign when management shows such great interest in acquiring equity.

The AXIM stock price is still tanking hard even below 1 penny. Yes. That is correct.

The AXIM stock price has dropped maybe 75% over the last year when it was announced in July 2023 that AXIM was manufacturing and shipping their FDA cleared 510-K tests to paying customers.

Then FIVE MONTHS OF SILENCE.

The AXIM stock price has dropped maybe 50% over the last 5 months since sales and shipments started in December 2023 after Auer Precision was announced as contract manufacturer.


Why should I feel so positive right now?
Why create continuous posts about a Company bleeding cash that they are obviously borrowing from someone else? What is my point?

We are not able to see all of the positive developments happening right now with our merchandising partner Verséa Ophthalmics.

Think about it. Those three posts by Doctor Kyle Klute are from one doctor from one regional location near Omaha Nebraska. At least 3 other eye doctors are mentioned in the posts or made comments to the posts. Verséa Ophthalmics just completed a successful #TPOC implementation training in Omaha Nebraska. Omaha Nebraska is just one regional location where Verséa Ophthalmics has hired sales people.


Verséa Ophthalmics has announced #TPOCTITANS from many different regional locations across the USA. In my opinion, Verséa Ophthalmics has a serious backlog of customers waiting to be announced as #TPOCTITANS across maybe 10 or 15 regional locations. Right now we only see the announcements on LinkedIn. There are a lot more new customers waiting in line.

Should I allow myself to feel this positive?

In my opinion, we are literally just one or two quarters away from very explosive growth in sales and revenue.

In the previous post I shared a link from Verséa Health that stated Verséa Ophthalmics "Hosted a successful T-POC Implementation training in Omaha Nebraska".

In this post I want to string together three posts over the last 2 months by a new customer Doctor Kyle Klute, who to date still has not been announced as a #TPOCTITAN by Verséa Ophthalmics. That announcement should be coming soon. Notice the above training was in Omaha Nebraska. At least 2 of the 4 eye doctors mentioned in these posts are based out of Omaha Nebraska. It will be interesting to watch if Verséa Ophthalmics adds more of these regional #TPOC Implementation training courses across the country. This is another way to better utilize existing resources to add more locations within a compressed amount of time.

First post by Dr Klute from 2 months ago has a picture of the AXIM tests branded by Verséa Ophthalmics. (TWO MONTHS AGO!!!) Verséa Ophthalmics has a serious backlog of new customers waiting to be announced as #TPOCTITANS (This is great news. Demand for the AXIM tests is strong.)

https://www.linkedin.com/posts/kyledkluteod_optometry-optometry-optometrists-activity-7182089642018578432-SGx6?utm_source=share&utm_medium=member_android

Second post mentions Verséa Ophthalmics and the post references a peer reviewed article from August 2023 that I believe was a first attempt by Verséa Ophthalmics to lay the groundwork for CLIA waiver approvals. However in my opinion this attempt may have been nullified by AXIMs failures to manufacture the tests within their lab. (NOTE: This was 5 months prior to Auer Precision being announced as the contract manufacturer in December 2023.)

https://www.linkedin.com/posts/kyledkluteod_dryeye-optometry-eyecare-activity-7183116415497895937-S66r?utm_source=share&utm_medium=member_android


The third post is from 1 month ago and calls out thanks to Kerry Robbers and Rahim Hirji for getting them trained and running. In the comments another eye doctor mentions she is taking the CLIA lab director certification course so her office can implement the Verséa Ophthalmics testing platform.


https://www.linkedin.com/posts/kyledkluteod_optometrists-dryeye-eyecare-activity-7193277260458594304-UOAG?utm_source=share&utm_medium=member_android

I my opinion. AXIM would already be bankrupt if not for deep pockets from insiders and MJNA and Verséa.

The AXIM (Sapphire Biotech) science team have produced some very unique and marketable quantitative Point-of-Care Diagnostic tests.

Verséa Ophthalmics is lead by a very knowledgeable Eye Doctor who also has founded three prior Diagnostic companies. Verséa Ophthalmics is building a team of very qualified professionals. Verséa Health is apparently investing very heavily into the success of the Ophthalmics division.

People should read the last few quarterly reports and make up their own mind about investing in AXIM. If Verséa Ophthalmics helps AXIM with CLIA Waivers comparison studies and documentation to the FDA AXIM can be cash-flow positive sooner.

The only reason I increased my position recently
is a gut feeling that there could be some type of merger between AXIM and Verséa Ophthalmics.
Maybe that is wishful thinking on my part.

Good luck.

Tex do you think the true worth of AXIM and its portfolio of present and future tests, IP, and patents is very under valued by this sub penny share price?

Verséa Ophthalmics is mentioned in this Verséa Health LinkedIn post.

Verséa Ophthalmics:
"Hosted a successful T-POC Implementation training in Omaha Nebraska".

This is good news. Hopefully the backlog of new customers starts to come online faster.


https://www.linkedin.com/posts/verseaholdings_verseahealth-healthcareinnovation-activity-7204857792128544768-ATjw?utm_source=share&utm_medium=member_android

That was a disappoint when this happened. I use to buy the gum and seemed to have interesting approaches.

I would think it might be related to CLIA waiver. Maybe they need ISO certification before they can obtain the CLIA. Just a thought

No, i don't think ISO-9001 Certification is directly related to AXIM.


ISO-9001:
========
This link explains ISO-9001.
https://www.iso.org/standard/62085.html



ISO-13485:
=========
IF Verséa receives ISO-13485 Certification then that could be very significant to their Point-of-Care test strips business.

https://www.iso.org/iso-13485-medical-devices.html

The only reason I hold out some hope for an M&A between Verséa and AXIM is because Doctor Rob Sambursky was a consultant or advisor to AXIM for a number of months before he joined Verséa.

The AXIM and Sapphire management teams are getting older. Maybe the MJNA/AXIM teams are looking to Doctor Sambursky as a Superman figure to drop in and save the company. Maybe both companies???


TOTALLY DIFFERENT TREE LIMB
After a comment by SunnyDays I researched and noticed Verséa Health has had a CBD business.

If Doctor Sambursky is an Insider, could he and the Sean Fetcho team at Verséa talk their way into an M&A for the whole MJNA portfolio??

Obviously I am talking crazy now.

I honestly don't know.
My gut feeling is AXIM has too much potential to die in bankruptcy right here before the sales really get started. Literally we are probably just 2 or 3 quarters away from real growth.

So Tex with all of your M&A theories, are you feeling that IHXL is somewhere in the mix. Its been almost 2 years since they acquired the MMJ patents owned by Apirx that AXIM gave our former Hero as part of his severance package. Seems like a fit somewhere in the family with their small market cap. They are located near one of the involved business entities. Its hard for me to imagine the family letting all of that intellectual property drift into the sunset with an old company officer. Any thoughts?

https://www.prnewswire.com/news-releases/incannex-to-acquire-apirx-pharmaceuticals-usa-llc-301509597.html

Tex thank you so much for your due diligence and thoughts. Do you think this announcement by Versea effects AXIM?

Verséa Health announced ISO-9001 Certification via a LinkedIn post this morning.

https://www.linkedin.com/posts/verseaholdings_verseahealth-versea-iso9001-activity-7204421814029099008-QKZv?utm_source=share&utm_medium=member_android

This is an interesting development for Versea Health, but I do want to mention that Auer Precision also has ISO-13485 Certification for medical device manufacturing.


BTW. The recent AXIM Press release does NOT mention ISO-13485 Certification.

https://finance.yahoo.com/news/axim-biotechnologies-receives-medical-device-130000909.html

State of California Department of Public Heath Food and Drug Branch Issues the Company a License for Manufacturing of its Diagnostic Assays SAN DIEGO, CA - (Ne...

Furthermore Verséa Health has proven they have the technical resources to push the CLIA Waiver Applications through the FDA process. And to bring new products through the FDA 510k process.

I believe AXIM does not have anyone to create the comparison studies and compile the required documentation to satisfy the FDA process.

I'm going to repeat myself.

BOTTOM LINE:
AXIM and MJNA insiders have control over ALL the AXIM assets. Verséa Ophthalmics is building their business on the foundation of the exclusive marketing agreement for three of the AXIM Dry Eye Disease Tear based Point-of-Care tests.


MY OPINION:
Personally I have been a "big" buyer below a penny in the last month or two. This is not investment advice. Penny stocks can have a high level of volatility. There is a risk of losing everything invested in AXIM. Don't invest money needed for food or rent or happiness.


STANDING ON A LIMB OPINIONS:
If my analytical brain studies the two paragraphs above I arrive at the following conclusion.

First, AXIM is out of cash and possibly getting closer to running out of insider credit. AXIM & MJNA still control 100% of the AXIM assets. Someone with deep pockets allows the party to continue. When will the credit cards be cut in half?

Second, we know Verséa Ophthalmics has an exclusive merchandising agreement with AXIM for three AXIM tests, 2 of which are FDA cleared.

In my opinion, it makes a lot of sense for Verséa Ophthalmics to have more control over their own future. That would imply shared ownership over the assets controlled by a financially struggling AXIM. Based on nothing but opinion, I believe some form of merger is in progress behind the scenes. Possibly a stock for stock (no cash) merger that allows all parties to retain ownership but also allows Verséa Health shared ownership over the AXIM portfolio of products. In this scenario everyone wins including retail investors. Verséa Health can IPO the consolidation and raise needed money for the combined business.

Maybe farfetched. 100% opinion.
My theory is based on an analytical exercise focused on the needs and assets of the two companies joined by the marketing agreement. On paper it could work out for everyone if a merger can agree on the value of each business.

Hope this limb doesn't break.
Not investment advice.

Verséa Ophthalmics is building their business on the foundation of the 2 FDA cleared 510K dry eye diagnostic tests owned by AXIM. The Verséa Ophthalmics marketing agreement is also based on the right to bring the AXIM MMP-9 test through the FDA process to potentially have 3 FDA cleared tests. I also believe the tear based Point-of-Care Parkinson Disease Diagnostic test is a great 4th test to add to the TPOC family of tests.

Yes, I do believe there is still growth potential with AXIM.

However the retail investor share price is getting burned to the ground right now. Today was an exception because of the volume. The fact still remains: There is not enough cash-flow to support the business yet.


BOTTOM LINE:
AXIM and MJNA insiders have control over ALL the AXIM assets. Verséa Ophthalmics is building their business on the foundation of the exclusive marketing agreement for the AXIM Dry Eye Disease Tear based Point-of-Care tests.


MY OPINION
Personally I have been a "big" buyer below a penny in the last month or two. This is not investment advice. Penny stocks can have a high level of volatility. There is a risk of losing everything invested in AXIM. Don't invest money needed for food or rent or happiness.

Texas - In lieu of the now below a penny share price, do believe AXIM will still be a great growth story as you said in an earlier post? I hope it’s being terribly under valued with its seemingly potent IP and 2 FDA approved tests

$53,000 in Q1 revenue. This is bare bones revenue and according to my original ballpark math, there was $45,000 in new start-up revenue and only about $8000 in re-order revenue.

This actually makes sense. It takes time to get staff trained on the new tests. It takes time to get staff focused on selling the new tests.


This is my original ballpark math

15×300×$10=$45,000 for initial start-ups in Q1.

One new location per week.
15 locations
300 initial tests ordered at startup.
AXIM gets $10 per test


Reorders per location per month may be between 50 and 150 tests. If we can estimate 100 tests per location per month it makes the math easier.

15×100×3×$10=$45,000.
15 locations
100 tests re-ordered each month.
3 months in a quarter.
AXIM gets $10 per test

Finally some good news!

Press release by AXIM.

https://finance.yahoo.com/news/axim-biotechnologies-receives-medical-device-130000909.html

State of California Department of Public Heath Food and Drug Branch Issues the Company a License for Manufacturing of its Diagnostic Assays SAN DIEGO, CA - (Ne...

Deferred Revenue.
$303,127 -
$250,148 =
$52,979 Revenue in Q1 2024


My wifi is not very good right now.
Maybe I will reply more next week.

Looks better with the derivative liability for insufficient shares zeroed out. I wonder why they left it in the previous release since the AS was already increased at that time. I'm grateful that I didn't have to wait until a minute to midnight for it. He released it after the close like the sister stock.

What kind of revenue do you think it would take for the share price to finally move and not just come back down? I’m surprised with the possession of 2 FDA Approved tests, all of the IP they have, and the beginning of real sales it’s 1 cent or below

Profit vs Revenue. An interesting accounting dilemma.

I revised my Q1 revenue-guess to include a 10% profit on the readers which are a one-time purchase at the beginning of start-up.

Readers cost about $2000
$2000 × 10% = $200

15 new customers in Q1
15 × 2 × $200 = $6000

If my math is correct,
AXIM sales in Q1 will be about $106,000.

Remember the readers are a one-time purchase.
If AXIM gains only 1 new customer per week then there are only 15 new customers in Q2. Assumption is each customer buys 2 readers.

My revised guess for sales in Q2 whould be about $6000 more for profit on readers in Q2.

$250,000 + $6000 = $256,000.

This is only a guess.
My assumptions are based only the number of TPOCTITANs announced by Verséa Ophthalmics on LinkedIn.
This is not investment advice.

But they do get whatever the profit is of the one time reader purchase. AXIM isn’t selling the reader for nothing

The readers are a 1-time purchase.
The test strips are the single-use recurring revenue that have to be purchased every month.

It sounded like the readers were for profit in the Feb 20 2024 press release when AXIM talked about them and the tests as a recurring revenue stream

Why does AXIM not get a piece of the $2000 reader that is part of their TPOC package?

No in my opinion it will take a few quarters.

This is my ballpark math

15×300×$10=$45,000 for initial start-ups in Q1.

One new location per week.
15 locations
300 initial tests ordered at startup.
AXIM gets $10 per test


Reorders per location per month may be between 50 and 150 tests. If we can estimate 100 tests per location per month it makes the math easier.

15×100×3×10=$45,000.
15 locations
300 initial tests ordered at startup.
3 months in a quarter.
AXIM gets $10 per test


Excluded from sales is the cost of the readers because AXIM makes no money on the readers.

If my math is correct,
AXIM sales in Q1 will be about $100,000.
My guess sales in Q2 should be about $250,000.

Someone smarter then me could probably use Algebra or Geometry to predict future revenue growth.

Good luck.
Not investment advice.
These opinions are my own best guess with almost no communication from AXIM Management.

Texas Marv - Do you think we’ll see a solid step in the right direction, as far as gross revenue goes, with the first real sales push in the 1st quarter?

Yes. Let's see what happens over the next few weeks.

Building the customer base continues.. 👌

Two more customers announced!!


https://www.linkedin.com/posts/vers%C3%A9a-ophthalmics_tpoctitans-tpoc-osd-activity-7196841911779815424-J94Z?utm_source=share&utm_medium=member_android


Not investment advice.
Have a good day.

Sometimes even good ideas have an expiration date.

The reality is that AXIM stock price has lost 50% since sales started in December. Retail investors can't support the spend right now.

Could AXIM/MJNA have their credit cards cut in half before Verséa is able to roll this out to the whole country? If that happens, Verséa might be forced to buy the assets at fire-sale prices. However AXIM/MJNA have a controlling share of the company. Is that where AXIM is right now? I don't know.

Let's see what happens in the next few weeks.

Looks like some longs are already exiting...

https://bizfileonline.sos.ca.gov/search/business

Why is Verséa Health creating a stock corporation in the state of California?

Does this mean anything to AXIM and MJNA?

Versea Health, Inc., a Stock Corporation, is a business entity located in Tampa, FL. Officially filed on April 4, 2024, this corporation is recognized under the document number 6173732. Governed by the California Secretary of State, the corporation maintains an active filing status. Last Updated 5/8/2024 8:12:42 PM


I have no idea what any of this means. Link to website:


https://www.bizprofile.net/fl/tampa/versea-health-inc


A stock corporation governed by the state of California. Officially filed April 4th. Statement of information filed on April 19th. Document Number 6173732 was last updated 5/8/2024 8:12:42 PM

I found another website to search for corporations. I just searched on Verséa.

Verséa and Verséa Ophthalmics and other Verséa divisions are listed numerous times for multiple states.

https://opencorporates.com/companies

Don't know what it all means, but lots of activity in April and May 2024.

The entry from California is dated April 4th, 2024 and the details from the website in previous post are the following:

BTW, I'm going to search on the filing number 6173732 to see what turns up. Do we have something happening behind the scenes that will soon be reported in a press release???


VERSEA HEALTH, INC. is a California Stock Corporation - Out Of State - Stock filed on April 4, 2024. The company's filing status is listed as Active and its File Number is 6173732.

The Registered Agent on file for this company is Corporation Service Company Which Will Do Business IN California As Csc - Lawyers Incorporating Serv and is located at 2710 Gateway Oaks Drive Ste 150n, Sacramento, CA 95833. The company's principal address is 603 East Cass Street, Tampa, FL 33602 and its mailing address is 603 East Cass Street, Tampa, FL 33602.

The company has 3 contacts on record. The contacts are Jillian Berswick from Tampa FL, Robert Glashow from Tampa FL, and Sean Fetcho from Tampa FL.

Hey Blue, Another question here. What is the California website that keeps track of corporations there in California? Any information you can provide is appreciated.
Thanks.


This Bizapedia website seems to say that Sean Fetcho is associated with corporations in Florida. New York and California.

https://www.bizapedia.com/people/sean-fetcho.html

"These individuals collectively are associated with 11 companies in Clearwater FL, New York NY, Sacramento CA, Tallahassee FL, and Tampa FL."

I'm just trying to dig and find out what might be unique about Verséa and how that might relate to California and New York.