GetSeriousOK
16 hours ago
You present GIUL as a savvy legal expert who was wronged by Shenghou.
But how savvy is GIUL, considering that:
* GIUL signed that contract without reading it.
* GIUL initially sued Faupel and Blumberg for 10 counts, but the court threw out six of those before the case went to court.
* When the case went to court, the judge then threw out GIUL's conspiracy claims, leaving only three counts remaining.
https://masslawyersweekly.com/files/2024/03/09-024-24.pdf
I understand that this is common in law -- throw a bunch of spaghetti against a wall and see what sticks -- but getting seven out of 10 counts thrown out doesn't give me much confidence in GIUL.
And the trial changed from a jury trial to a Directed trial -- at whose request was that done, GIUL or Shenghou?
Regardless -- Guided Therapeutics is not a party to the case and so there are no claims in the case against Guided Therapeutics. I have no doubt that if GIUL loses the remaining three counts, GIUL will throw more spaghetti against the wall and bring more lawsuits, but this forum is a poor place to whine and complain about how poorly GIUL was treated and abused. A savvy legal expert would find a better way to air grievances.
Pacjd
17 hours ago
Faupel and Blumberg are being sue for deceiving plaintiff GIUL LLC: not telling the truth in the first place in a fund raising Securities transaction, telling half truths, making misrepresentations, not making material disclosures in raising funds, and engaging in unfair and deceptive practices. Blumberg an Attorney is accused of telling lies on the stand under oath amounting to Perjury - as Blumberg engaged in after-the-fact personal invention of the facts.
GIUL, LLC is suing because it was deceived by Faupel and Blumberg and it did not, because of their deception, know material facts when it made its loan to Shenghou, LLC, an entity Faupel and Blumberg managed/controlled and they both own investment interests in.
Giul, LLC is also of the opinion that Faupel lied in both his deposition and on the stand at trial, thus committed Perjury to avoid having a Judgment issued against him.
Should Giul, LLC prevail in its case, GIUL will have grounds to Sue Guided Therapeutics If defendants don't satisfy - pay Giul's Judgment against defendants. Giul LLC intends and is prepared to do exactly that.
Pacjd
3 days ago
RED FLAG GTHP DIRECTORS EFFECTIVELY WAIVED CONFLICT OF INTEREST PROVISIONS OF GTHP'S CODE OF ETHICS
THIS SOUNDS LIKE TURNING A BLIND EYE TO UNETHICAL - CONFLICT OF INTEREST BEHAVIOR BY FAUPEL AND BLUMBERG
What is MOST INTERESTING about GETS posting of 8k item is that in referencing the fee splitting agreement is: GTHP (disinterested Directors "effectively waived the conflict-of-interest provisions of the Company’s code of ethics." "On January 15, 2017, each of the disinterested directors on the Company’s Board of Directors, having considered the interests of Dr. Faupel and Mr. Blumberg and having approved the agreement, effectively waived the conflict-of-interest provisions of the Company’s code of ethics." THIS LOOKS LIKE A RED FLAG TO ME
I will again say that Shenghou LLC the original License Agreement Holder was a sham transaction, as Shenghou did not have the expertise to fulfill its obligation under the same, and perhaps it is a self directed dealing of GTHP assets - Splitting GTHP fees to insiders Faupel and Blumberg who are owners in Shenghou., LLC. and perhaps GTHP effectively waived its conflict of interests code to allow Faupel and Blumberg to receive compensation at the expense of the shareholders of GTHP, without having to disclose this as compensation to these two insiders at GTHP. I would call this turning a blind eye.
myjog
6 days ago
GTHP can find a different subcontractor in China -- that's what SMI is.
If GTHP’s management would have been serious about finding another subcontractor in China then they would have already found one by now. What’s GTHP management’s vested interests in keeping a Chinese partner that can’t be trusted and have proved to be contract-breaching and not-paying?
———
A Chinese subcontractor that actually has some money.
Agree with you on that. GTHP must find another partner in China that can pay GTHP as per contract.
———-
I wouldn't expect a PR for that extra $100,000 since there wasn't a PR for the $330,000 -- if SMI submits the application to the NMPA in second quarter as promised, there will be a PR then, I believe. And if they don't and the application to the NMPA never gets submitted, worst case scenario, that Chinese clinical trial with 400 patients will help Guided get FDA approval.
There must be a PR from GTHP about whether or not SMI paid them 100K as per “standstill contract” by March 24 end? SMI is supposed to submit for NMPA in 2nd Q & at that time they are supposed to trigger a PO and pay additional amount to GTHP. For stockholders this is a very critical & crucial step. Stock hasn’t been trading at all & it’s because of this debacle with SMI, stock lost more than 40% value. Why GTHP management continue to partner with a subcontractor in China who is neither paying GTHP nor honouring contract/s? They say stop the habit of collecting red flags. In spite of having so many red flags about SMI, why GTHP’s management continues to partner with them?
GetSeriousOK
6 days ago
GTHP can find a different subcontractor in China -- that's what SMI is.
A Chinese subcontractor that actually has some money.
SMI paid $330,000 according to the 10-K and that's more than I thought they would pay. I wouldn't expect a PR for that extra $100,000 since there wasn't a PR for the $330,000 -- if SMI submits the application to the NMPA in second quarter as promised, there will be a PR then, I believe. And if they don't and the application to the NMPA never gets submitted, worst case scenario, that Chinese clinical trial with 400 patients will help Guided get FDA approval.
So I'm just not feeling the FUD that you and the other FUDster are selling. The Brothers Fudd. Which one is Elmer?
Have a FUD-filled weekend. Perhaps a nice vinegar pie would hit the spot.
Pacjd
7 days ago
GET
Thanks for bringing this to my attention that this was mentioned in a 8k, which I never saw or knew about until you posted it, this can be said for other investors as well whom did not know about the GTHP - Shenghou fee split agreement. So I hereby immediately RETRACT MY COMMENT OF NON DISCLOSURE.
THE ITEM 13 YOU QUOTED:
13. SUBSEQUENT EVENTS
On February 17, 2024, the Company entered into a fourth amendment to the agreement with SMI. Under the terms of the amended agreement, SMI also agreed to pay the Company $531,100 on or prior to March 15, 2024. MAKES IT SOUND LIKE GTHP GETS ALL THESE FESS AND DOES NOT REFERENCE THAT THESE FEES ARE TO BE SHARED WITH SHENGHOU LLC , so perhaps this is misleading by not referencing again a fee spliting arrangement that most investors like yourself were unaware of.
What is MOST INTERESTING about your posting referencing the fee splitting agreement is: GTHP (disinterested Directors "effectively waived the conflict-of-interest provisions of the Company’s code of ethics." "On January 15, 2017, each of the disinterested directors on the Company’s Board of Directors, having considered the interests of Dr. Faupel and Mr. Blumberg and having approved the agreement, effectively waived the conflict-of-interest provisions of the Company’s code of ethics." THIS LOOKS LIKE A RED FLAG TO ME
I will again say that Shenghou LLC the original License Agreement Holder was a sham transaction, as Shenghou did not have the expertise to fulfill its obligation under the same, and perhaps it is a self directed dealing of GTHP assets - Splitting GTHP fees to insiders Faupel and Blumberg who are owners in Shenghou., LLC. and perhaps GTHP effectively waived its conflict of interests code to allow Faupel and Blumberg to receive compensation at the expense of the shareholders of GTHP, without having to disclose this as compensation to these two insiders at GTHP. I would call this turning a blind eye.
GetSeriousOK
1 week ago
I just posted the link to the agreement -- and it was FREE.
That agreement has been in black-and-white for GTHP investors to see for quite some time. It is already DISCLOSED so you can stop posting your libelous statements, please and thank you.
I fail to see this agreement as a negative for GTHP investors. Shenghuo only gets money if SMI pays money. More important, without that agreement there would have been no SMI and there would be no Chinese clinical trials completed, because obviously Shenghuo wasn't going to accomplish anything in China.
The REAL value here is in the FDA approval. That's going to take awhile but I'm quite confident that this time the FDA will approve the device. FDA approval has nothing to do with your lawsuit and it has nothing to do with Shenghuo. If SMI pays any money, that will be icing on the cake (they already paid $330,000), but even if they don't pay any more money, they already accomplished a valuable feat: Chinese clinical trials were completed without costing Guided a lot of money, and the submission to the Chinese FDA can now happen whether SMI does it or not.
GetSeriousOK
4 weeks ago
I didn't read the 10-K word-for-word but I searched for some important strings. Here's the most interesting part:13. SUBSEQUENT EVENTS
On February 17, 2024, the Company entered into a fourth amendment to the agreement with SMI. Under the terms of the amended agreement, SMI also agreed to pay the Company $531,100 on or prior to March 15, 2024. On March 18, 2024, SMI, through SMI’s authorized distribution partner, initiated a wire payment of $330,000 in partial satisfaction of $531,100 owed to the Company. The payment was received by the Company on March 20, 2024. As the full payment was not received by March 15, 2024, the Company had the right to terminate the agreement with two weeks’ notice to SMI, however the Company did not exercise this option.
The amended agreement also provides for a timeline for the Company to deliver inventory during 2024, including LuViva devices and components, as well as approximately 1,640,000 RFID chips. In consideration, SMI agreed to pay a total of $4.4 million during 2024, including the payments due on March 15, 2024.
On March 27, 2024, the parties entered into a Standstill Agreement (the “Standstill Agreement”). The parties agreed that SMI will make a nonrefundable payment of $100,000 to the Company prior to March 31, 2024. In exchange, the Company will not initiate any legal proceedings, including but not limited to filing a lawsuit, obtaining a judgement, or enforcing any security interest, as related to the March shortfall in payments of $201,100, until April 30, 2024. Upon paying $100,000, SMI will have the option to extend the Standstill Agreement until June 15, 2024 by making a nonrefundable payment to the Company of $150,000. One additional payment of $150,000 may be made to extend the standstill rights until July 30, 2024, if mutually agreed upon. If SMI is unable to make the payments pursuant to the Standstill Agreement, the Company agreed to seek loans on behalf of SMI to cover the payments. SMI agreed to reimburse the Company for these loans along with all expenses associated with them within three months of the loans being issued as long as the loans are used solely for (1) parts for LuViva devices to be used by SMI for marketing and promotional activities, or (2) labor or consulting fees connected to providing parts, assemblies of devices or disposables to SMI. Additionally, SMI confirmed its commitment to make payments to GTI of at least $4.0 million during 2024 and as part of this commitment will make payments of $200,000 and $500,000 by the end of May 2024 and July 2024, respectively, to ensure that the program commercialization proceeds according to schedule.
To paraphrase: SMI paid some money! To my surprise, honestly. They didn't pay as much as promised, but they did pay $330,000 and they will pay a monthly penalty (about $100,000 for every 30 days) to kick the can down the road. It's called a "Standstill Agreement" and I've never heard of such a thing before.
SMI re-committed to paying $4 million in 2024 but they can't afford peanuts now so that continues to seem like an empty promise to me.
Otherwise, not much that's new. US clinical trials proceeding slowly. Debt decreased. Still over $400k in deferred revenue. SMI says they will submit the application to the NMPA in second quarter.
GetSeriousOK
2 months ago
History of GTHP for new investors - a primer
Of course, everyone does their own exhaustive DD before they buy a stock, but if any new investors want the Cliff notes:
GTHP got their 3rd FDA rejection in April 2015. Here's the PR:
https://www.otcmarkets.com/stock/GTHP/news/FDA-Completes-Review-of-Guided-Therapeutics-LuViva-Advanced-Cervical-Scan-PMA-Application?id=105061
The PR doesn't seem all that negative as FDA rejections go, but this rejection caught GTHP by surprise. Plan A was to get the PMA approval and get financing, so when the PMA was rejected they had no money and no plan B. The company fell into toxic death spiral financing with a couple of VERY shady lenders (One of which got into trouble with the SEC and caused them to dump in June 2023 but that's a different story). There was a 1:100 R/S in Feb 2016 and when the PPS tanked there was another R/S, this time 1:800, in 11/2016, but the PPS tanked even harder after that second R/S.
The company had no money and frankly not much hope of surviving, but somehow, Cartwright the CEO managed to get rid of the toxic lenders over the next few years. The company re-established communication with the FDA in 07/2017 and when they did the most recent R/S in March 2019, the resulting PPS of 15 cents has held.
They managed to get funding for a new clinical study, and it's coming to completion:
https://clinicaltrials.gov/study/NCT04915495
Notice I didn't mention SMI. I will believe the China Hype when GTHP gets a sizable check. If you read all the China PR's I think you'll agree that SMI has failed to fulfill their promises time and time again. The good news is that the China clinical study with 400 participants was apparently completed and was successful; that will bolster GTHP's amended PMA when they submit.
I have no doubt that the US clinical trial will be successful and that GTHP will submit the amended PMA. After that, it's hard to say how long the FDA will take to review the PMA, but it's an amended PMA, not a brand new submission. I also never assume any FDA submission is a slam dunk, but in my opinion, this is as close to a slam dunk as it gets.
I'm not sure why our resident basher is trying so hard to raise FUD. My only guess is that he held after that 2015 FDA rejection, which is something I've learned not to do -- yes I lost money in 2015 but I accept the risk of FDA plays, so I sold my entire position the day after that PR, took my loss, and moved on, watching and waiting. If our basher held, the R/S's in 2016 reduced his position to ashes, which I guess would make anyone bitter.
When that 2019 R/S held its resulting 15 cents, I started getting back in. It's not common for a pennystock developmental biotech hold its price after a R/S. It's SUPER uncommon. Our resident basher thinks the PPS should be at $5 but I'm surprised it didn't fall to a penny after that 3rd R/S.
So here we are, close to the milestone of completing that clinical trial and submitting the PMA. It would be nice if SMI mails a check because GTHP has to be out of cash by now, so I expect some bridge financing if SMI doesn't pony up. $500,000 from SMI in March would be a godsend, IMO, but again, I'll believe it when the check clears.
Also of note: it's important to know that the giul lawsuit against shenghuo does not name GTHP as a defendant. The lawsuit started in 2019 and originally it did name GTHP, but the company has since been removed from the lawsuit.
Cheers.
GetSeriousOK
2 months ago
See, you never answer a question or defend your opinion. You don't engage in a discussion or debate. You just keep banging a pot and shouting nonsense.
"Your challenge" is for someone to slap the ask and drive the PPS from 15 cents to $1 or $3 or $5 without news. That's absurd. An increase to $1 is a 600% increase. How often do you think that happens in pennystock biotech? Without news, the answer is "never." Even with news, a 600% increase is uncommon. Your "respectable $5" would be a 3000% increase. And if that doesn't happen, this stock is dead and will never rise above 15 cents, in your opinion. That's what you've stated over and over, even when it does rise above 15 cents, and you'll keep shouting that until, when, the PPS hits $5.00 ?
Oh joy.
GetSeriousOK
2 months ago
LOL no the bearish sentiment is just you and the guy suing Shenghuo, and even HE shut up.
There's not much buying interest now, which is what you'd expect from a pennystock biotech this far under the radar. The China news isn't fooling anyone, although we all might be surprised some day when SMI sends a check.
There's going to be buying interest, IMO, when they finish the clinical trial, submit the amended PMA, and get FDA approval. You just don't see many penny biotechs with odds this good. And every penny biotech gets manipulated once in awhile and spikes -- if that happens before the real news arrives, I'll take some profits and laugh all the way to the bank.
Of course it's still a gamble. It's a penny biotech. You don't have the stomach for it, fine, stay on the sidelines and shake your fists and curse the darkness. But don't fool yourself into thinking anyone is listening to you or cares what you say. Sorry, but you lost all credibility when you claimed the CEO stole all the money, they'd never start US clinicals, and the Directors didn't even exist -- and even worse, you used multiple aliases to simulate a fake conversation.