Hi Art,
<I spoke to Peggy Miller this afternoon at IR. The registration
to sell an additional 3 million shares relates to the sale in
June which is discussed in the most recent release. This is not
an additional 3 million shares. >
Well, remember the following entry from my message #23?
===== from message # 23
The form S-3 was filed on 7/9 for the following amount:
---- from form S-3
Title of Shares Amount to be Proposed Maximum Proposed Maximum
to be Registered Registered (1) Offering Aggregate
Price Per Share Offering
(2) Price (2)
Common Stock 2,641,279 $0.765 $2,020,578.40
----
Note that the amount of shares increased from 1,744,186 (10-K) to
2,641,279 (S-3) and to 2.9 million (today's news).
======
The S-3 filed on August 4 is for 4 million shares and is for
a completely different price. Here are the details from 8/4
version of S-3:
----- from 8/4 version S-3
Title of Shares Amount to be Proposed Maximum Proposed Maximum
to be Registered Registered (1) Offering Aggregate
Price Per Share Offering
(2) Price (2)
Common Stock 4,385,467 $0.7528 $3,301,510.40
-----
Art, this is clearly a new filing with SEC! It may be classified
as an amendment to the July release of S-3 but if Peggy really
thinks this is one of previously reported items, well she is
grossly uninformed at best.
Last year I made fatal mistake of placing all of my retirement
fund into 2 high risk stocks. One was BJCT and the other was
a small chip maker called Telcom (TLCM@NASDAQ). When TLCM fell
below $4 in November I received a margin call (since I draw
living expenses the account went into margin last year).
At that time TLCM showed no future while BJCT still was waiting
for FDA approval to start the Shering contract; I sold all of
TLCM and converted all funds to BJCT.
As luck would have it I sold TLCM at the bottom while BJCT,
incredibly, still was not at its bottom. Since then TLCM has more
than recovered and is currently trading at around $14.
I made a very tough decision last week to come out of retirement
and also to make more emotionally correct investments. My analysis
indicates that I have been too optimistic on BJCT and it has cost
me my nestegg. I expect to be working as a management consultant
and mostly out of BJCT by September.
I still hope best for you and BJCT.
NI |
