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Humanigen Inc (CE)

Humanigen Inc (CE) (HGENQ)

Closed July 19 4:00PM

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HGENQ Discussion

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sosjtb sosjtb 1 hour ago
What’s 5x0? It’s over J, common shareholders have nothing.
The corrupt judicial system in US was not always like this. over the years with cops, judges, and lawyers who are addicted to drugs. they take bribes for the money and cannot say no to drugs, mansions and cars. and since everybody is corrupt and doing crime. it's normal now. Look at Trump guilliani, and so many people who got screwed by the gov't or state. for political persecution. abusing the judicial system or corrupt judicial system. Like in Mexico, it becomes a failed state....when institutions no longer work or functioning. as it should. The justice dept unable to carry out justice or enforce justice. that is failed state. too much crime. overload. only 3% of crimes are solved kind of situation. or rampant stock fraud in the exchanges so SEC is failed institution.
What we have is bankruptcy fraud. not stock fraud.
What is bankruptcy fraud.
declaring bankruptcy intentionally to embezzle assets and not repay creditors. or lawsuits. like guilliani but his debts are too high, there is no way he can repay his debts. as the debt was FAKE and bogus and unfair. The creditor committee is controlled by humanigen lawyers and Taran. the amounts they claim to be owed are fake. humanigen don't owe them anything. it's the Court, Judge, and lawyers in this show that is 'CONTEMPT of JUSTICE...'
SEC still have no prosecuted a stock pump and dump case from 2014? what kind of justice is that? and the guy appeals and SEC wants 18 million from the man. All his vicitims he alledgedly ripped off is dead and won't get a dime but SEC want a cut of the 'alledged' ill gotten gain.
SEC wants to sue Dale for his money. SEC has confiscated and stolen so much money it has over 1 billion in the SEC bank account. that is more money that the futures on the table. You know it's corrupt, when crooks or corrupt SEC guys are stealing the SEC bank money and embezzling the money to themselves. over 100 million of the SEC cookie jar been paid to some 'confidential' person for whistleblowing, the public has no idea who got paid, just the money was wired out of the SEC bank account.
SorcererGuru44 SorcererGuru44 2 hours ago
So you think a US BLA or regulatory approval, either domestically or internationally, which is required to activate a Milestone Event, is only worth pennies on the amount owed to Unsecured Creditors?

You've incorrectly merged multiple facts into one. I did not say that the milestones will pay off creditors in pennies on the dollar. I said the difference of keeping this CH11 and not 7 is fractions of a percent, aka pennies on the dollar. The whole process of not switching to 7 is cost of doing so, and the fact they structured the liquidation so creditors get at minimum what they would have in 7+ that fractional extra. I'm not sure why you believe the milestones will somehow equate to half a billion dollars to miraculously breathe life into a company that doesn't legally exist.

Just do the math they wrote in the docket for you.
cowtown jay cowtown jay 2 hours ago
I'm waiting to see if I end up with 5X the number of HGEN shares that I had. I'd like that, and I think Sanofi would like that, too.
All-Bidness All-Bidness 4 hours ago
Guy we're done, shares dissolved, asset sold to a private company. Wake up. Also how many shares did you have and at what average?
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cowtown jay cowtown jay 5 hours ago
"As for the milestones, again, they are simply to pay off those creditors. Nothing more nothing less."

Nothing more?

So you think a US BLA or regulatory approval, either domestically or internationally, which is required to activate a Milestone Event, is only worth pennies on the amount owed to Unsecured Creditors?

Were you holding shares when our successful topline data was released from the LIVE-AIR trial? Even using your estimate of the company holding only 65% of the shares they issued, that could come to a whole lot of limbo moolah.
SorcererGuru44 SorcererGuru44 8 hours ago
I'm sorry but this is categorically false.

The statement you reference is simply in regard to CH11 obligations and paying off creditors. This is based on the fact that creditors will receive slightly more than they would had the company gone CH7. We're talking fractions of a percent, because that's all there is to offer. No further restructure needed is quite literally saying they won't be restructuring because they will not exist.

As for the milestones, again, they are simply to pay off those creditors. Nothing more nothing less.

Quite the opposite of your mention of "any financial recovery will be far greater than...", the recovery will be nowhere close to paying off creditors (whether it's real debt or not is another story). Not to mention, if they did somehow manage to pay off creditors it wouldn't matter as the company does not exist, and thus cannot be a debt free company.

It's repeated over 50 times in dockets I have linked and others in the epiq archive. No payout to shareholders is expected.

If your belief is so staunch that Taran is somehow magically pulling the whool over the eyes of the judge with clever phrasing, then why not believe what they wrote plain as day?

I more than anyone feel your pain in this Jay, but incorrectly identifying loopholes that aren't real is not some light at the end of the tunnel.

I stand with you on the benefits of Lenz, the potential lives saved, the money saved, the vast applications, even the trial results. But, we aren't talking about if the drug is good or not, we're talking about bankruptcy - and in this one we got bonked over the head.

There are no employees, the company is no longer in existence per the court, the shares have been deleted, the assets have been sold. No amount of belief or positive thinking can change that unfortunately. Durant and ask him yourself, then share the response with us. I all but listed his email in a previous post.
cowtown jay cowtown jay 9 hours ago
Actually, my price is $200.
bencozey bencozey 10 hours ago
If Taran bought or merged with us then your short squeeze to $100 never happened
cowtown jay cowtown jay 10 hours ago
I was getting around to this subject in a previous post.

""...the Debtor believes all chapter 11 plan obligations will be satisfied without the need for further reorganization of the Debtor. "

I can't reconcile the Debtor's statement, that all CH11 obligations will be satisfied, with your opinions that shareholders will be screwed. This is especially true since the Asset Purchase Agreement was amended to increase the number of Milestone Events, and also increase the amount of the payments for each Milestone Event. And we know that a US BLA, or regulatory approval from any of a number of foreign governments, are REQUIRED to reach a Milestone Event. For you guys to be correct about shareholders getting screwed, then the value from reaching the Milestone Events could not exceed the amount due to Unsecured Creditors. That will not happen, any financial recovery will be far greater than the amount owed to Unsecured Creditors."

I think, rather than to believe that a debt-free company can go bankrupt, which Humanigen would be if a Milestone Event was reached, it's more likely that Taran either bought us out, or merged with us, before the shares were canceled.
sosjtb sosjtb 12 hours ago
With the shares canceled where will the milestones payments for Humanigen go?
SorcererGuru44 SorcererGuru44 12 hours ago
I have referenced this already. The value you are looking at in your account is nothing more than the limbo we find ourselves in waiting for the liquidation to complete. The shares have in fact been deleted, this is not disputable. You can't sell them, you can't trade them, you can't get certificates for them - because they do not exist.

What is disputable is whether or not the previously existing shares will have liquidity value upon the total liquidation of Humanigens assets in the process of paying off creditors.
RitonavirCYP3A4 RitonavirCYP3A4 14 hours ago
Jay, if you consider 6 cents as monetary value, we can’t help you. May have been monetary value in 1936 when you were able to get a tootsie roll as a wee lad.
cowtown jay cowtown jay 14 hours ago
"What that means is that those shares were transferred to the Receiver of the Black Horse entities' assets, before they were canceled."

Is that why our non-existent, kaput, gone forever and ever, Amen, shares, reflect a monetary value in our account balances?
cowtown jay cowtown jay 20 hours ago
I just look at nefarious intent through a different lens. I've done so since college, about 40 years ago, and the last half of those years were focused here and on one prior company.

I've shown the publications from Dale in the late 1990's, when he was a Howard Hughes Medical Institute fellow at the National Cancer Institute, where he studied tumor immunology and published in the field of T-cell therapy, immunology pathways, and granulocyte-macrophage colony-stimulating factor (“GM-CSF”), an immune system protein that initiates the cytokine storm that can occur in COVID-19. Here's a link once again to his co-publications.

Fast forward to the arrival of covid.

"Chappell’s world may seem remote from the COVID-19 units where some of his medical school classmates now struggle through harrowing days and nights. But with the advent of COVID-19, his path and theirs have converged: he is helping oversee (and fund) trials of a drug that may protect coronavirus patients from “cytokine storm” that can make the illness dire.

In some patients, cytokine signaling proteins that activate immunity go on overdrive, and the immune system goes haywire. The massive inflammation that results damages lungs and other organs. Patients need help breathing, and often they die.

Chappell’s fund, Black Horse Capital Advisors, has invested in a drug that appears to interrupt cytokine overproduction. Called lenzilumab (or “lenz”), the drug did well in a small case-control trial this spring. Twelve patients who were given lenz improved more quickly than did 27 controls. No one suffered a serious adverse effect...

Lenz has a three-year head start: with financing from Chappell’s fund, Humanigen had already explored its ability to prevent cytokine storm in organ transplant patients and in patients with refractory leukemia and lymphoma. Doctors now urgently need such a drug for a hugely expanded pool—people worldwide stricken by the novel coronavirus. Since February, says Chappell, “It’s been a lot of very early mornings and very late nights.”

The SEC and the health regulators may indeed be the winner here. They abuse their discretionary authority. The SEC is chartered to return disgorged money to the investors from whom it was stolen. But they don't. They transfer those funds to the US Treasury Dept. Shareholders, and their victimized companies, have their investment money stolen again, by the US government. And in this case...

that means millions people of people have, or will, suffer preventable deaths, either from covid, or covid-related indications, or covid vaccine-related indications. MILLIONS OF PEOPLE suffering preventable deaths, basically at the hands of unelected bureaucrats. Do you think any single one of them know more about lenzilumab's role in preventing cytokine storm, than our doctor/MBA management team?

I think, as do some researchers like Geert Vanden Bossche, that the worst of the pandemic is yet to come. See The_Inescapable_Immune_Escape_Pandemic.

Right or wrong, we need to be prepared. And right or wrong about a highly virulent form of the covid virus becoming a reality, we have got to rescind the discretionary authority of our government agencies, who play a large role in our pandemic history, as well as in the future we may very well face.

You can focus blame wherever you want, even if it is on the company and the management team that may well prove to be our salvation. But I'll continue to focus on reigning-in the rogue elements embedded in our government agencies, and I'll look forward to seeing them suffer the consequences of their corruption. After all, millions of lives hang in the balance.
Like the people who complain the cops or tips on gangs. the cops will leak your info to the gangsters. and have you killed like the SEC, instead of getting a reward for reporting crime to the police or SEC, you will get punished for complaining to the cops about CRIME.
You have to understand that the Government or the SEC, finra give sthe public the impression that they are protected from fraud and the markets are fair and orderly. but the facts are there is so much fraud cases SEC, and finra is like the Mexican police depts, its failed gov't institution that has failed the public. 50% of cops in Mexico are on the payroll of the drug cartels and so is the SEC staff. SEC has over 1 billion in fines in the bank. and is paying some anonymous RAT 37 million for tips for some secret investigations. That is b.s. it's more like SEC has too much like 1 billion and is embezzling the money to themselves and claim it is confidentiality they cannot discuss who the rat is. Even the FBI doesn't pay 37 million to informants. that is how corrupt the SEC is now. you think the SEC will be working for you. SEC will rat on you if you complain you got ripped off.
If Dale fled to Russia and has launder all of the money to bitcoin, there is nothing the SEC can do. They may fine him etc but how will SEC collect the money from Dale? SEC can confiscate the assets of Taran which is owned by Dale via his blackhorse etc.
cowtown jay cowtown jay 1 day ago
Joe needs you.

President Joe Biden tests positive for COVID-19 while campaigning in Las Vegas, has 'mild symptoms'
Wed, July 17, 2024

Of course...there is evidently an issue requiring a black box warning for drug interactions.

I hope to see perhaps a reformulated version of lenz to treat non-hospitalized patients while their CRP levels are still low. Patients with low CRP levels showed an 8-fold improvement in treatment outcomes.
RitonavirCYP3A4 RitonavirCYP3A4 1 day ago
Jay, you clearly minimize the nefarious intent by Dale and Cameron to not disclose the FDA recommendation not to pursue EUA and Dale acted on that information to avoid losses based on that information. Also, it's silly to think Dale would use his funds to advance HGEN when he's luxurious spending on the dime of shareholders is evident based on SEC's findings. You will find out soon your defense of Dale et al is misplaced as I think SEC had good probability of being the winner here. In addition, any wins by lenzilumab in IITs are not wins for you and I. It's for Taran and Cameron.
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SorcererGuru44 SorcererGuru44 1 day ago
You make some very good points here, with exception to the 90% conclusion. I believe it was/is ( I say was because the shares no longer exist) around 65%.

I'm not necessarily one to disagree with the opinions you have about the testing itself. As I've always said, I'm a believer in the product. Unfortunately, I am not a believer in the management team we had.

Anyway. When it comes to scienter the fact is Dale had FDA communication that was not made available to investors and unloaded shares at a non-approved time with the knowledge nothing would get approved, while selling at a substantially lower rate than approved, with intent to "cover part of his mortgage" from the sale. This is after the CFO sounded alarm bells and said "we have a duty to update the market".

This is nail on the head territory for establishing bad faith.

cowtown jay cowtown jay 1 day ago
Truly, SG44, I appreciate your un-clouded perspective, and I think it is of significant value to the board.

But, as you know, I do not share your perspective.

I pinned my recent post regarding the possible company control of 90% of their issued shares because this was the first time I saw corroborating support, from the SEC, no less, of my conclusion. The Black Horse entities are stuffed to the gills with Humanigen shares, as I thought they would be. That can be argued, as can a lot of things. For instance, the District and Appellate Courts thought there was scienter based on an "inference" that there was a violation of the securities laws, and an asset freeze was ordered. But still, I haven't seen criminal charges filed by the DOJ. Lacking that DOJ action, an inference that a violation of securities laws may have been violated, is a pretty damn low bar to justify freezing the assets that were likely providing, in part, operating income for the company (such as by charging interest on the loaned shares).

Another unacceptably low bar is drawing a conclusion regarding lenzilumab's safety and efficacy, based solely of the SEC's opinion of how likely lenz was to be effective. I don't see any indication that the judge considered the Mayo Clinic case cohort study, or the results of the LIVE-AIR trial, or the Lancet peer-review, nor the Thorax peer-review, ALL of which demonstrated statistically significant, possibly game-changing efficacy. Other drugs were submitted for EUA's with similar, or smaller, trial sizes. In fact, the NIH trial, refuting the efficacy we claimed, had a smaller trial population than we had. In addition, the company made it clear that the the FDA wasn't the only regulatory agency to whom we submitted our LIVE-AIR results. I haven't seen anything from the MHRA saying they wanted to see a larger trial. So there was no reason not to copy both the FDA and the MHRA on our EUA applications, and NO nefarious intent should be ascribed to our management for doing so.

In addition, and especially with an asset freeze, management was faced with prioritizing their regulatory effort. This is a lot easier when management has partners, such as SAHMRI, Mayo Clinic, etc., who are conducting sponsored Investigator Initiated Trials (IITs). If regulatory approval of lenz can be obtained from these sponsored trials by our partners, it made sense not to follow the FDA's guidance to conduct another expensive company-sponsored trial.

I find the Third Circuit's decision largely devoid of serious merit. They claim, "The court noted that without the injunction, there was a substantial potential injury to Humanigen shareholders if Chappell was able to move assets out of reach of future judgment creditors." So, how much more could shareholders have been potentially injured, than we have been by this decision? There's no getting around the evidence, peer-reviewed in two different journals, that demonstrate the baseless FDA's projected determination of lenzilumab's safety and efficacy. Therefore, there can be no basis for a determination of scienter, at least not by management.
SorcererGuru44 SorcererGuru44 2 days ago
I should not of left out:

Pieroni V Humanigen has a settlement hearing on September 10th Ordered by Judge William J. Martini on 6/14/2024. There are many documents to this case as well, which are all accessible.
SorcererGuru44 SorcererGuru44 2 days ago
The thing to remember here is that these are separate cases. One is the Humanigen bankruptcy case, the other is an SEC injunction against Dale & his entities. While there are some crossovers because of the participants, the information you referenced in the settlement agreement has no bearing on the SEC investigation. What the text suggests on 20/32 is nothing more than we will pay our creditors W from our insurance policy if they agree to not chase us with X, Y, or Z.

The latest filing in Yang v Durrant was nothing more than a change of attorneys for Buxton/Hohnecker/Cleary. The case is assigned to Judge William J. Martini and Magistrate Judge Andre M. Espinosa for all further proceedings, but as of now no updates.

To some of your specific questions:
- No criminal charges by DOJ I am aware of
- The charges wouldn't necessarily be outlined in the SEC filing because it's technically civil. What their intent is, is to show proof of wrongdoing in order to claim assets of whoever they are chasing. This would be no different than John Doe suing their neighbor because he borrowed $1000 and never returned it. The SEC just has more power and a different set of standards.

I've mentioned a couple of times the SEC's asset freezing and their use of the term disgorgement. Ultimately, we will not know what comes of it until there has been a resolution.

If you want my speculation - because Dale has tried to push against the overall basis of the asset freeze and failed, he will now beg for a hefty fine and promise to play good boy going forward. After all, he is now on a fixed (and I use that term loosely) income, and probably has hopes of recouping any of that ~50 million dollars. As the SEC points out on numerous occasions, he was spending excessively lavishly trying to milk as much as possible out of the freeze, and I see no reason he wont attempt to keep doing that. He thinks it's unfair it's even taking until October....but the SEC is in no hurry. I hope the SEC keeps the people damaged by their actions in mind, but even I find that unlikely.
cowtown jay cowtown jay 2 days ago
I've been looking for three exhibits that remain sealed, and I think it is safe to assume that they are in document ECF No. 23. Not that it mattes, sealed is sealed. But I spent a lot o time trying to find again where I saw that certain exhibits remained sealed.

Has the DOJ filed a criminal charge that you know of?

In terms of the information that was unsealed by the Appellate Court, I had another post that was in-process when your post was made. This is in regards to the charges, which were as follows.

""The Notice of Claims identified certain claims and causes of action against the Directors
and Officers, including, without limitation, (a) breaches of fiduciary duty; (b) aiding and abetting
breaches of fiduciary duty; (c) unjust enrichment; (d) aiding and abetting unjust enrichment; (e)
gross mismanagement; (f) insider trading; (g) waste of corporate assets; and (h) willful, reckless,
or negligent false and misleading statements or omissions of material fact with respect to (i) the
Debtor’s financial statements; (ii) the efficacy, safety and commercial viability of the Debtor’s
development drugs including lenzilumab; (iii) the efficacy of the Debtor’s internal controls; and
(iv) the failure to effectuate a value-accretive business combination with a privately held
biopharmaceutical company or additional financing on behalf of the Debtor (collectively, the


Do you know if these charges were in the unsealed SEC filing, or just from the class action charges?
cowtown jay cowtown jay 2 days ago
Have Dale and Durrant been enjoined from continued market participation?
SorcererGuru44 SorcererGuru44 2 days ago
Sure the case has been appealed, but a decision has already been reached on that in the third circuit and found the SEC had the ability to continue the asset freeze. I will add some screenshots for your reference but note they will expire in 4 days from today 7/17.

With regard to your sealed comment, the case was specifically UNSEALED on July 1st with the exception of a single document ECF No. 23.

See PACER screenshot here:

As for the remainder and what will happen: on July 11th the court clerk determined that the SEC and Dale must meet with retired judge Jose L. Linares for mediation on or before September 30th 2024. They then must file a joint letter by October 7th informing the court if the matter has been resolved.

If it has not, there will be a status conference on October 15th at 10:00am. If that comes to fruition, I would be happy to share the conference details here.

See document screenshot here:
cowtown jay cowtown jay 2 days ago
I had told Renee that, "An SEC action against Dale has been sealed and appealed." I stand by that.
SorcererGuru44 SorcererGuru44 2 days ago
The ticker hgenq is no longer even in the OTCmarkets.

there is no information on the status of the former ticker, nothing the ticker just 'vanished' from the exchange. Like phantom theif, they just take your money and disappear and never hear from them again kind of fraud. worse than being ripped in the flea market. and they call this GOV't regulated exchange too. NOT
False. It did not just vanish. This has been an ongoing process for 7 months and we knew it was going to happen. There is plenty of information available for anyone who wants to read it. Plus, as I mentioned in my last post....just contact your broker and ask them the status. It's not that hard.

How hard is it for management to write a 10 page sentence on status of company and post and upload in SEC site. no filings no notice on company website, no replies to emails from IR in company. and the ticker keeps trading.
There are plenty of updates by Epiq who is handling the bankruptcy, which has been posted many many times. They are easy to contact through that same website and are pretty responsive.

No schedule or information as to what happens to the ticker in people brokerage accounts, nothing no information whatsoever. in legal limbo as they say.
Legal limbo: Yes. But there is not a schedule because the liquidation is underway and brokerages don't have a crystal ball. To repeat myself one more time, call your brokerage and ask about ticker deletion and what their most recent ticker status update was.
SorcererGuru44 SorcererGuru44 2 days ago
This is not necessarily true and is entirely dependent on the broker. Some have a $0 convenience fee to remove a dead ticker, where others may have a charge. The best thing to do is call and ask....

For example, I spoke with mine and the reason it's not gone already is because on 7/16 it was deleted pending complete liquidation. Once that has been resolved it will be removed with no fee.
cowtown jay cowtown jay 2 days ago
"...schedule or information as to what happens ..." As far as I know, we still have an omnibus hearing scheduled on 8.21.24.
And now if you guys didn't sell and still have that worthless cancelled shares from the registrar office, it cost you $300 to remove the ticker from your brokerage account. another ripoff. The regulators make hard for brokers to delete tickers on customers account and broker has to manually remove the ticker from cancelled shares by finra. no information from broker, no information from finra, no information from the transfer agent and no information from SEC about the cancelled shares. etc.
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The ticker hgenq is no longer even in the OTCmarkets.
there is no information on the status of the former ticker, nothing the ticker just 'vanished' from the exchange. Like phantom theif, they just take your money and disappear and never hear from them again kind of fraud. worse than being ripped in the flea market. and they call this GOV't regulated exchange too. NOT
That is the data that all brokers get their quotes from or data.
No information from SEC nothing. The expert market is another SEC created market for stocks that has no bid and no ask and American citizens cannot buy kind of stock.
Rather than insider information which the SEC is so obsessed about and taking a large portion of SEC funding. the SEC has no funding for making companies give information to publicly listed companies
How hard is it for management to write a 10 page sentence on status of company and post and upload in SEC site. no filings no notice on company website, no replies to emails from IR in company. and the ticker keeps trading.
No schedule or information as to what happens to the ticker in people brokerage accounts, nothing no information whatsoever. in legal limbo as they say. and SEC doesn't care that this stock was once listed in the nasdaq and pay SEC fees.
dloggold dloggold 2 days ago
i got the hard update from my broker , renee and all the other guardians of capitalism...yesterday.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
im sure its just a glitch you are correct
SorcererGuru44 SorcererGuru44 2 days ago
Merely the state of limbo from finra deletion to whatever brokerage account you are using. I expect a handful to continue to show the shares for a little while here, where others may already be updated.

Basically, they could show on XYZ brokerage as $500 a share but would mean nothing.
dloggold dloggold 2 days ago
something must be wrong the bankrupt stock i can't touch is over a penny today
SorcererGuru44 SorcererGuru44 2 days ago
Shares no longer exist, company no longer exists.

Only possible payout is to those that signed up for the class action against HGEN which will be pennies on the dollar.... if any. Alternatively there is possible recovery from the SEC in their case against Dale, but as I've said already is highly unlikely.

In other words, it's game over.

Anyway, I feel for all of us that lost money here and commend those who stayed positive through it all. Cheers to capital loss 🍻
dloggold dloggold 2 days ago
Diego Rivas Diego Rivas 2 days ago
What has happened?
DTGoody DTGoody 3 days ago
You are correct about this statement! Looks like my 4 million share gamble was a losing one. "RIP HGEN"

I'm so sorry for everyone who lost money here...

This company/management team was an absolute disgrace on multiple levels. Sinful what was done to investors.
SorcererGuru44 SorcererGuru44 3 days ago
Glad we're saying the same thing, sort of.
F/T F/T 3 days ago
This company/management team was an absolute disgrace on multiple levels. Sinful what was done to investors.
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Americans who are wrongly politically persecute with unfair ,unjust convictions from the US gov't can flee to Russia or China to escape political persecution or unfair civil lawsuits from the corrupt US judicial system like they did to Trump and Guiliani with b.s. 100 million fines for 'defamation' it's not defamation if it's true and politics. Defamation laws were mostly for business defamation where a lie is disastrous to a company..not for political defamation on comments when everybody knows its fake. In real defamation, there is an organize 'intent' to defame a company OR Person for economic 'gain' in competition . a political comment or opinion of a person is not defamation but a comment.
Dale and his gang left the country and laundered all the proceeds of crime to some Russian or non-US friendly bank. SEC has no jurisdiction outside of US. SEC calls some cop in Russia, the Russian cops tell SEC back off and hang up. SEC or US justice dept only has control over NATO countries who have an extradiction agreement with US or interpol is voluntary. Fact, is without extradiction treaty or other countries support US laws regarding fraud etc. What is illegal in US is not illegal in many countries vise versa. that is where you get politcal assylum. In North Korea, you have teen executed for watch south korean dramas. that is where US civil laws don't apply to other countries or foreign citizens or civil lawsuits don't apply to foreigners.
SorcererGuru44 SorcererGuru44 3 days ago
Correct, and what I attempted to outline a couple posts below.

Disbursement all depends on the method in which the SEC ultimately pursues Dale. Disgorgement is the method which appears to be the case and is mentioned a few times in the filing, and is infact the method shareholders could recoup something. Whether or not that ends up happening or not is another story and depends entirely on the SEC
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cowtown jay cowtown jay 3 days ago
Is 110M the overwhelming majority of 119M? We've seen about four million of those shares likely sold to DTG. So I dropped my estimate of the company owning 92% of the shares they issued, down to ~90%.

Note the following.

"Chappell has complete control over the Black Horse Funds’ investment portfolio, which is “heavily concentrated” in Humanigen stock, so much so that the stock “represent[s] the overwhelming majority of the [Funds’] holdings."

see pg 3

What that means is that those shares were transferred to the Receiver of the Black Horse entities' assets, before they were canceled.

Now, it remains to be seen how the receiver may have consummated a transaction of those shares being traded in exchange for shares in Taran. I actually think there may be additional patents in any such transaction.
RitonavirCYP3A4 RitonavirCYP3A4 3 days ago
It’s my understanding they froze his assets (50 million) with the injunction granted. Wouldn’t that be a source of disbursement to wronged shareholders? To me, Dale clearly profited from insider trading based on the sec allegations and the case definitely has merit.
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in gangland, you can hire some gangster and murder someone for under $5000. okay and these criminals think they can walk free.. they shoot the security guards an cops too.

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