Sorrento Therapeutics Inc (SRNE) Quote

Ariadinvestor is a despicable, desperate long, who has paid the ultimate sacrifice with this stock

Hey, how’s that portfolio? Dr Ji laughing all the way to the bank.

Run by….

Yes, all the companies the great Dr Ji are involved with are. This was a $20 stock with a cure for Covid during the pandemic.

Dude, the company is going thru bankruptcy. If you're in, all you can do is wait to see if it survives on the backend. If you're not, just walk on by.

IS THIS STOCK A SCAM OR WHAT??? I WANT THE TRUTH!!!

Where are those pumpers, c’mon we need that portfolio update. Anyone?

Same here! Ugh!

With the changeover from AMTD to Schwab Ive lost my SCLX? It now shows it as 808CNT018? Dr J again?

Hoping for the best

SS updated on 2May24. No change since last updated on 23Feb24.
AS 750,000,000; OS 551,281,154 (R 3,978,485/UR 547,302,669)

Expert market doesn't allow you to see seller or buyer quotes unless you are an institution or broker-dealer (expert). The everyday Joe trying to buy or sell won't see it.

BTW, on this website the stock is still showing up under SRNE (NASDAQ) and SRNE & SRNEQ (USOTC). The only one that has trade movement is the SRNE under USOTC.

Me too! But I don’t understand the Bid/Ask price and the current “buy” price.

I feel something coming

Any other Canadians on here?

Writing up a letter to the CRA - Canada Revenue Agency when sending in my taxes.
Regarding the distribution and valuation of the SCLX shares.

Please reply with the name of the brokers and how they classified the dividends and the value of the share price!

I know the Americans got it right, but some of the Canadian brokers thinks we should be paying taxes on something that we haven't received - SCLX shares!

I will start,

Scotia Itrade
Classification- Income fully taxable
Value of shares - $10.56 USD

I'm in discussions with my brokerage who won't change their stance on the SLXC dividends that we received.
To me it's like fraudulently reporting of income!
But Scotia couldn't care less,
All I can say is goodbye Itrade l had enough of this illogical thinking and in action!

lol. They typo'd it on the Daily List

Or someone typo'd it.

SRNEQ changed to SRNE. Emerged from Bankruptcy. Revised/Re-announced with correct symbol. All Sorrento Equity Interests shall remain effective and outstanding on the Effective Date and shall be owned and held by the same applicable Entity that held and/or owned such Sorrento Equity Interests immediately prior to the Effective Date.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

Bankruptcy court extends lock up period on SCILIX shares.
PALO ALTO, Calif. , March 27, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has extended the expiration of the restrictions on transfer of the shares of common stock of Scilex that were previously distributed by Sorrento Therapeutics , Inc. (OTC: SRNEQ, “Sorrento”), Scilex’s former controlling stockholder, to Sorrento’s stockholders as a dividend on January 19, 2023 (the “Dividend Stock”). Such lock-up period was previously set to expire on March 31, 2024 . On March 26, 2024 , the Court approved a motion to extend the lock-up period of the Dividend Stock to the earlier of (i) September 30, 2024 or (ii) the date on which Sorrento and its Official Committee of Unsecured Creditors agree in writing or on the record in Sorrento’s chapter 11 cases certain claims that may be asserted in potential litigation to avoid Sorrento’s distribution of Dividend Stock and to recover such Dividend Stock (the “Stock Clawback Claims”) should not be pursued, or on such date that the Court deems just and proper. The Court did not make any determination regarding the merits of the Stock Clawback Claims.

Do you know what wash trades and spoofing are and their purpose.

The Sorrento insiders do wash trades and spoofing to create a fake run so the insiders can dump more shares.

So it was nothing to get excited about.

Dr. Ji, exposed himself as a serial scammers years ago when he issued a press release about Sorrento having a "cure" for COVID.

"Report: The Trouble With Tiny Biotech's Coronavirus Cure Claim

ALLISON GATLIN 04:13 PM ET 05/15/2020

"Tiny biotech company Sorrento Therapeutics (SRNE) claimed Friday its experimental coronavirus treatment is a cure for Covid-19.

In preclinical testing of cells, Sorrento's antibody drug provided "100% inhibition" of SARS-CoV-2 — the new coronavirus that causes Covid-19 — within four days. Sorrento expects this antibody to be the first in a drug cocktail that would create a "protective shield" against infection."

On 05/15/2020 - shareholders should have known Sorrento was a scam.

IG

On Q stock the hierarchy of who gets paid is secured and unsecured creditors and the last in line is the Common Shareholders.

In most bankruptcy cases the common shareholders are impaired and the stock is canceled.

From a SEC warning about Q stocks.

"Regardless of the type of bankruptcy a company files under, any common stock in a bankrupt company is likely to be worthless. That is because the common stock (that is, “equity”) is the last in line to receive what’s available to be distributed in a bankruptcy proceeding."

"What are the risks of investing in a bankrupt company?

When a company files for reorganization under the federal bankruptcy laws, investors may be tempted to buy or hold the company’s common stock in anticipation that the company that emerges from bankruptcy will be profitable. The reality is that when companies emerge from bankruptcy, the “old” common stock of the company is usually worthless. In most instances, the company’s plan of reorganization will cancel the existing shares of common stock."

Proceed at your own peril.

IG

Lemme guess, tax selling? Shorts? C’mon, humor me, show me the portfolio.

Judge Declines to Dismiss Sorrento Therapeutics Bankruptcy Case
Bankruptcy judge rules bank account and mailbox established by Sorrento’s lawyers days before chapter 11 filing provide a sufficient basis to keep case in Houston
By Alexander Gladstone
March 11, 2024 7:23 pm ET|WSJ PRO

A Texas bankruptcy judge denied the Justice Department’s motion seeking to dismiss or transfer the Sorrento Therapeutics chapter 11 case, ruling a bank account and mailbox the company’s lawyers established justified its bankruptcy petition in Houston days later.

This pig went from .04 to .099 in the last 90 seconds today..

https://twitter.com/sunnycorax/status/1759335054105252027

Ji knew exactly what was happening. Unfortunately he will get away with it.

Ji knew exactly what was happening. Unfortunately he will get away with it.

Looks like Dr Ji should either start looking to go back to his country or get ready for some good ‘OL jail time if trying to perform an SEC swindle…….

What are these clowns doing! Self-inflicting wounds.

Justice Department Says Sorrento Therapeutics Lawyers Falsified Texas Bankruptcy Filing
A U.S. trustee says the biopharmaceutical company falsely claimed its principal place of business was a mailbox location in a Houston suburb
By Alexander Gladstone
Feb. 20, 2024 3:07 pm ET
https://www.wsj.com/articles/justice-department-says-sorrento-therapeutics-lawyers-falsified-texas-bankruptcy-filing-a27c14e1

Sorrento faked venue in bankruptcy filing, Justice Department says
Feb. 21, 2024 12:34 PM ET
https://seekingalpha.com/news/4069747-sorrento-faked-venue-bankruptcy-filing-justice-department

The bankruptcy lawyers rented a mailbox in Scintilla's name, and hours later, the company filed a Chapter 11 bankruptcy petition that represented that the UPS Store was both its "principal place of business" and the location of its principal assets," Epstein wrote.

As a result, Scintilla's claims that it operated "a place of business or its principal assets within the Southern District of Texas" for the past 180 days or a majority of days within that period, were not correct, he argued, adding that Scintilla's filing also allowed Sorrento (OTC:SRNEQ) to proceed with its bankruptcy petition.

C7 is coming. We won’t get anything. It’s over and he is a crook.

I'll post the BOOB post below and make my comment short. The only question I have is... are we talking about the same guy?????
The 7% will quickly become 2-3 % as the Good Doctor dumps more stock into the market, takes big bonus and destroys the share price. Get this guy out of the CEO/COB business.

Go C7 and put it behind us. Here is the suggestion of one person:

"If JL gave us the choice to move ahead and liquidate Sorrento (CH7) or accept Dr. Ji's offer (7% of New co.) What would [sic] choose?
Here is how I think about it logically:
1) Ch7 would be fair for everyone including Dr. Ji, whatever Dr. Ji gets we get. we may not get much but at least Dr. Ji won't steal Sorrento for pennies and leave us behind.
2) Having a 7% stake of the New Co. In the longer term (5 years plus) as a private company may be worth something. Dr. Ji may be able to get one of our phase 3 products to the finish line.

Both are bitter choices but they maybe the only options left on the table unfortunately."

C7 is coming so I fear. Born in the USA living in the USSA. Get ready to use the new pronoun that solves the pronoun issue... Comrade, ???????.

Where’s all those pumpers? Been awful quiet since the “strategic bankruptcy” One of the biggest scams of 2023, and we let him get away with it.

FMV = $0.0000

We all were scammed with the great Dr. Ji’s lies. Remember they had the cure for Covid? It’s unfortunate he will continue to collect his multi million dollar salary. He should be in jail.
“Strategic bankruptcy”, many on this board fell for that. Scilex will be next.

Wow this thing just became the most volatile penny stock. So sad, high invested in SRNE during COVID and got shafted

Yes, we were all scammed by the great Dr. Ji. Unfortunately he will get away with it, and will duplicate his efforts with the unlucky shareholders of Scilex. He has no business being a CEO.

Not bashing but rather speaking the truth from a legitimate share holder!!!

Careful, if you bash the great Dr. on this board, you will be reprimanded.

Well looks like Dr Ji let the company go to Expert Market now!!!! Great freaking job!!!

He needs to be put in jail ASAP in my opinion for misleading investors!!!

I wonder when the great portfolio posts will come back.

Wonder when the SEC will start an investigation into what seemingly in my opinion looked like nefarious dealings by Dr Ji starting with his shorting of SCLX shares…..

Seems like “Shady Dr Ji” is letting this stock slip into “Expert Market” since the Grace Period notification was posted on the OTC on Friday for this ticker. What a shame.

Something shady is definately going on here

Disagree. I guess we will see no one knows.

Real bio techs can rebound. This POS and its leader are done. Time to ruin Scilex.

Yet trades at .16? Lol

RDHL had a nice run recently. Sorrento can pop too.
Biotechs are having a resurgence.

10$ stock all day! Let’s go! Haters gonna hate and criers going to cry!

Back to a nickel by EOY. More Ji fluff. Dress it up for a sale Doc. Maybe we get a quarter.

Needs actual news. The speculation hype will die out with the 3 day weekend.