Tim,
In this world of "Pump and Dump" and where the CSAs are a year or 2 behind the SEC in putting criminals in Jail, due diligence is absolutely essential to preserving wealth, let alone growing it.
it is clear that you are most suited for investment in the GE's & GM's of today, and not the future.
Thank you, yes I do own some Dow stocks. My investigation into Procyon came at the urging of "TheBeach" on the QLT thread - definitely not a GM or GE, definitely on the forefront of photodynamic therapy for the treatment of a variety of cancers (already approved), AgeRelated Macular Degeneration which will cause blindness in half the people over 50 (phase III trials complete next month) and a number of autoimmune diseases including arthritis and certain skin afflictions.
This company is well financed, producing solid revenues today, trades on both the NASDAQ and the TSE, and has several Phase III trials underway globally.
You may not be aware, but a lot of companies actually start small.
I'm very much aware that a lot of companies start small. I'm also aware that the vast majority cease to exist within a very few years. Of the survivors, most remain very small, others get taken out by competitors as they get into financial difficulties with the shareholders getting nothing or almost nothing. A very small number will actually grow into the GMs or the GEs or even the QLTs.
Procyon is a small company, this is the ground floor.
I sincerely hope that you don't discover that this building has many sub-basements on the way to 2cents a share or less, in an illiquid market where you can't find a buyer even at that price. Volume on the ASE isn't exactly setting world records lately.
I would suggest that you have not read many a penny stock prospectus, as the terminology that brings you such grave concern is known as boiler-plate, a very legal investment house CYA.
Give me the name of any TSE, NYSE, or NASDAQ stock that has IPO'd or offered a secondary that contains that boilerplate language. Any stock that states in bold print on the cover of its prospectus that this offering is only suitable for those willing to lose their entire investment should cause even the boldest speculator to think twice before leaping. I am not willing to lose my entire investment on a development stage company that, for the foreseeable future, is only going to further dilute my holdings or go out of business.
Please humor me whilst I enlighten you as to the two factors that bring investors to biotech companies: 1) Motivation for profit, but more importantly, 2) Social responsibility, the desire to assist in the funding of a company that is not only "producing something", but potentially rather saving somebody.
First, calling this a biotech company is a little premature. It's a development stage company presumably engaged in R&D. As I haven't done that due diligence, I can't even state with certainty that it has substantive R&D underway that has a reasonable probability of producing results that may lead to products within the next decade.
Profit motivation is fine, but insufficient to make money in the market. Everybody wants to make money, few do (in the sense of beating the major indices). Re social responsibility: A commendable goal which I do hope you attain. I will choose other companies and other options which I deem more likely to achieve the desired objective.
I wish I could live in your world where you feel that there are no diseases for the company's development products.
Your presumption about what I feel is absolutely wrong. I only pointed out that the company itself had not yet got to the stage where it (i.e. Procyon) was able to select a specific disease for which to target a treatment. If the Final Prospectus is wrong, incomplete or out of date, I would be happy to have somebody point me to a reliable source of more accurate or more current information.
Someday, you may not think that ANA's have no use when they are used to prolong the life of a loved one.
The emphasis is on "someday". ... and it may not be Procyon that benefits from this field of R&D.
Good luck my friend. Makes lots of money, but please don't get sick,
Thank you for your wishes, and I return to you all those same wishes that you have for me.
Regards,
Ian. |
