Update GVBP.PK: (2009-09-30 18:26)
por eSeller
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Provavelmente vai ser delisted:
The U.S. Securities and Exchange Commission has halted Genova Biotherapeutics Inc., a company that claims to have patents describing cures for prostate cancer and breast cancer. In a brief halt notice dated Sept. 23, 2009, the SEC cites questions about the accuracy of the company's publicly available information. "The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in Genova's securities," the notice reads.
Genova trades on the OTC Bulletin Board. During September, it went from a low of nine cents to a high of 79.5 cents, as it issued several news releases touting technology that purportedly used stem cells to fight cancer. The stock traded 467.3 million shares during the month.
The company is a very recent entrant to the biotechnology sector. Until this summer, it called itself Kinder Travel Inc. and listed its head office at an address in Surrey, B.C. It claimed to be in the business of specialty travel, catering to Christian families. In its most recent balance sheet, dated June 30, 2009, Kinder reported $28,000 in cash.
On July 13, 2009, Kinder split its shares 125:1 and changed its name to Genova. It began touting itself as a biotechnology company that would "achieve breakthroughs in anti-cancer treatments" and would license those products to larger companies. Genova's primary asset was an agreement to acquire three medical patents from Phoinos Oxford Lifesciences Ltd., a company incorporated in St. Kitts & Nevis. Genova agreed to pay $75,000 (U.S.) for the patents, to be satisfied by issuing 250,000 presplit shares.
In September, the stock started rising as the company issued a series of news releases touting the patents. One, dated Sept. 11, 2009, said the company would develop specially designed stem cells that would be able to overcome cancerous cells in breast cancer patients. "Development of this important biotechnology would mean a new cure for cancer, rendering disfiguring mastectomies and harmful radiation therapies obsolete," the news release read. The stock, which had traded at nine cents a week earlier, closed at 29 cents on volume of 73.9 million shares.
The next trading day, the company issued more news as the stock again rose on heavy volume. One stated that the company was awaiting preclinical results for Prostaganin, a product that was purportedly a candidate for treating prostate cancer. The stock went to 43 cents on volume of 61.0 million shares.
Genova reached its peak the next day, Sept. 15, when it reported that it had signed an agreement with a British company, Prime BioResearch Ltd., to help develop its products. Genova closed at 79.5 cents on volume of 58.7 million shares. The company did not issue any further news, and the stock started steadily declining after that. It had fallen to 18 cents by the time the SEC halted it on Sept. 23.
Neither Genova or its local director, Dirk Holzhauer, returned calls seeking comment on the halt. Mr. Holzhauer was the company's president prior to the July 13, 2009, name change, and he remains on the board. The company lists its president as Aaron Whiteman, a resident of Stockholm, Sweden.
Stockwatch also left an unreturned message for Daniel Baxter, a Surrey man listed in regulatory filings as having control over 43.7 per cent of the company's shares. Mr. Baxter is the president of Wall Street Transfer Inc., a transfer agent with its office in the small Vancouver suburb of Pitt Meadows, B.C. According to Genova's July 1, 2009, information circular, he controlled 1.15 million of the company's shares prior to the 125:1 split. Assuming this holding remained unchanged, he would have held 143 million of Genova's 307 million shares after the split.
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Links Relacionados:
 Ver Justificação Inicial desta Posição em GVBP.PK (2009-09-22 05:28)
 Ver a Carteira actual do Gestor.
 Ver Negócios Fechados do Gestor.
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Detalhes desta Posição
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Ticker
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GVBP.PK 
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Tipo de Posição
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Short
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Ganho/Perda[%]
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72.56%
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Posição Incial
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3,861.28€
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Ganho/Perda[€]
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2,801.70€
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Posição Final
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6,662.98€
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Preço Entrada
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0.26
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Preço Saida 
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0.07
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Evolução da Cotação desde Entrada
Evolução do Negócio desde Entrada
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Trading Idea emitida por eSeller, com abertura da posição em 2009-09-22 e
Fecho em 2009-10-16.
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Nikkei 19054.05 -0.85% | 
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