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I will start by posting my first message on it earlier this mourning, as well as mention that is was discovered at 0.14, so when someday, maybe years from now, it trading in the 10 dollar range, they will know when we found it. Also, I am not an expert on fish or their drugs, however, grilled fish is my favirote dish.
IGNE, all buys lately, steady rise, as the 1Q earnings is coming out this Friday, a
developmant stage company who earlier this year they shipped their new product AstaXin -- a natural
source of astaxanthin pigment, this I heard could bring up to $100M dollars. In their last report, they
mention that they do not have cash, but they expect cash to come from sales of this new product, that is
bold; it means that they have a lot of orders lining up, in fact according to one of their releases they just
got $5,000,000.
Seems to be a lot of insider buying lately, from one of their reports:
"On February 9, 1998, the Reporting Person sold 79,500 shares of Common Stock in the open market for
an aggregate consideration of $5,366.00. On March 4, 1998, the Reporting Person purchased 20,000
shares of Common Stock in the open market for an aggregate consideration of $2,100.00. On March 9,
1998, the Reporting person purchased 40,000 shares of Common Stock in the open market for an
aggregate consideration of $4,400.00.
On March 31, 1998, the Reporting Person purchased 3,750,000 Units in the Rights Offering for an
aggregate consideration of $375,000. The Reporting Person paid the Company for the purchase of these
Units through the cancellation of the $375,000 in promissory notes received as part of the Bridge
financing."
Imagine this guy sold 79,500 at 0.0674969 a share on February 9, 1998, bought March 4, 1998 20,000
shares at 0.105 a share, bought 40,000 shares at 0.11 a share on March 9, 1998. He is an insider.
IGNE homepage is:
igene.com
it is a bargain at this point with a float of 1.9M shares,
One more thing, I will not know everything about this comapny, I called them once and they would not tell me anything. |
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