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Henry McCusker
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Analyst, Journalist and Publisher ... Henry enters his tenth (10) year at Scimitar Equity -Regenerative Medicine Investors which aggregates, curates and creates bottom-line content weeding of regenerative medicine and cell therapy news to provide a customized, vetted selection of relevant and... More
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  • Advanced Cell Technology (OTC BB: ACTC), more Lawsuits 1 comment
    Nov 6, 2011 2:49 PM

    Since the entry of the court order, ACTC.OB has become aware of 2 additional lawsuits by different holders asserting substantially similar claims and allegations.

     

    ACT estimates that the number of shares of common stock such holders of convertible notes could demand would be approximately 8M, and the number of additional warrants convertible into shares of common stock such holders of warrants could demand would be approximately 380M.

    • On 10/14/11, the United States District Court for the Southern District of New York entered an order granting plaintiff Alpha Capital Anstalt’s (“Alpha Capital”) motion for a preliminary injunction and preliminary declaratory relief in the lawsuit entitled Alpha Capital Anstalt v. Advanced Cell Technology, Inc., Case No. 11 CIV 6458 (S.D.N.Y. filed Sept. 16, 2011).

    The Bottom Line: There must be some resolution to this mess (debt, shares outstanding, etc, etc and more etc). There is some VERY good science and people involvedbut, management (NYSE:GR)…  MUST provide a … solution to this on-going dilution and share price depreciation … an orderly bankruptcy and restart … might be a solution … the patent portfolio must have REAL value to monetize … MAKE SOME HARD DECISIONS … or no one will touch it … a leprosy factor! I think it will get much worse before it gets better. On top of this, the Aronson and Gorton lawsuits are both suing for cash, at least $13M but could be much more.

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  • gdcat
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    Comments (38) | Send Message
     
    What is your opinion on ACTC? What do you feel ACTC's share price will drop too with these lawsuits and this dilution. Do you think it's possible their may be a JV partner looking at ACTC. The science seems very promising and I'd hate to see a company with so much promise go under. By the way, what are these lawsuits for. Good article. Thank you
    8 Nov 2011, 07:40 PM Reply Like
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