A student of the markets, I started trading in 2008. Always learning and improving my game, becoming more consistent everyday. I mostly trade penny stocks on OTCBB/PINK and TSX Venture. I also sell options in blue chip companies and biotech special events plays.
"During the period from November 1st through November 30th, there were no material unusual or non-recurring accounting transactions recorded in the accompanying financial statements.
The Debtor continues to pursue a joint sale of its Atlantic Rim coalbed methane properties, along with Warren Resources, Inc., and will file any related sale documents with the Court accordingly.
The Court has scheduled a status update hearing for the Debtor on January 11, 2018.
Other significant events after the close of the reporting period:
In December 2017, the Debtor executed purchase and sales agreements with third-parties for the sale of its North Dakota/Montana (Bakken) properties and the sale of an oil well in Wyoming. The Debtor subsequently filed sales motions with the Court. The Debtor expects to close on the sales of these properties shortly after the Court issues an order granting these sales motions."
ESCRQ Security Details Other Company Securities
Market Value1 $67,245 a/o Jan 02, 2018
Authorized Shares 50,000,000 a/o Dec 28, 2017
Outstanding Shares 14,307,414 a/o Dec 28, 2017
-Restricted Not Available
-Unrestricted Not Available
Held at DTC 12,319,835 a/o Dec 28, 2017
Float Not Available
Par Value 0.1
Transfer Agent(s) Verified by Transfer Agent
Shareholders of Record 993 a/o Mar 12, 2009
New Issue=5-72 4,500,000 shs at 10 Cents by United Securities Corp.
Par Changed=2-27-84 1 cent to 10 cents Basis: 1 for 10 reverse split
Capital Change=8-84 shs increased by 100% stk div.
Note = Delisted from Nasdaq on 10-29-2015
Short Selling Data
Short Interest 172 (0%)
Dec 15, 2017
Significant Failures to Deliver No
ESCRQ Escalera Resources Co.
Common Stock SEC Reporting
Real-Time Best Bid & Ask
0.0031 / 0.007 (1 x 1)
0.0032 – 0.0032
0.0027 – 0.055
Average Vol (30d)
Net Dividend Yield
Trade Data Delayed 15 minutes. Trade Time 11:44:00 ET / Last Best Bid & Ask Update Jan 3, 2018 11:44 AM ET
Notes to Condensed Consolidated Financial Statements
3. Real Estate Investments
During 2015 and 2016 we acquired two real estate properties, one located in Long Branch, NJ and the other in Flanders, NY.
5. Revolving Note
On August 7, 2015, we, as borrower, and Koala Holding LP (“Koala”), as lender, an affiliate of Carl C. Icahn, our controlling stockholder, entered into a revolving note (the “Prior Note”). Pursuant to the Prior Note, Koala made available to us a revolving loan facility of up to $10 million in aggregate principal amount. Borrowings under the Prior Note bore interest at a rate equal to the greater of the LIBOR rate plus 350 basis points, per annum, and 3.75%, per annum. The Prior Note also included a fee of 0.25%, per annum, on undrawn amounts and matured on the earliest of (i) December 31, 2017, (ii) the date on which any financing transaction, whether debt or equity, was consummated by us (or our successors and assigns) with net proceeds in an amount equal to or greater than $10 million, and (iii) at our option, a date selected by us that was earlier than December 31, 2017. Subject to the terms and conditions of the Prior Note, we could repay all or any portion of the amounts outstanding under the Prior Note at any time without premium or penalty, and any amounts so repaid would, until the maturity date, be available for re-borrowing. As collateral for the Prior Note, we pledged and granted to Koala a lien on our limited liability company interest in Voltari Real Estate Holding LLC (“Voltari Holding”). As of March 29, 2017, borrowings on this facility totaled $5.0 million.
On March 29, 2017, we and Koala amended and restated the Prior Note (the “Amended Note”). Pursuant to the Amended Note, Koala made available to the Company a revolving loan facility of up to $30 million in aggregate principal amount (the “Commitment”). The Company may, by written notice to Koala, request that the Commitment be increased (the “Increased Commitment”), provided that the aggregate amount of all borrowings, plus availability under the aggregate Increased Commitment, shall not exceed $80 million. Koala has no obligation to provide any Increased Commitment and may refuse to do so in its sole discretion. The Amended Note provides that the net proceeds thereunder in excess of $10 million will be used by the Company for the acquisition, improvement, development, modification, alteration, repair, maintenance, financing or leasing of real property, including any fees and expenses associated with such activities. Borrowings under the Amended Note will bear interest at a rate equal to the LIBOR Rate (as defined in the Amended Note) plus 200 basis points, per annum, subject to a maximum rate of interest of 3.75%, per annum. The Amended Note matures on the earliest of (i) December 31, 2020, (ii) the date on which any financing transaction, whether debt or equity, is consummated by the Company (or its successors and assigns) with net proceeds in an amount equal to or greater than $30 million, and (iii) at the Company’s option, a date selected by the Company that is earlier than December 31, 2020 (the “Maturity Date”). The Amended Note also allows the Company to, upon written notice to Koala not more than 60 days and not less than 30 days prior to the Maturity Date, request that Koala extend the Maturity Date to December 31, 2022. Koala may, in its sole discretion, agree to extend the Maturity Date by providing written notice to the Company on or before the date that is 20 days prior to the Maturity Date.
As of September 30, 2017, borrowings under the Amended Note equaled $5.5 million. The outstanding balance, including interest of $0.3 million, totaled $5.8 million.
As of September 30, 2017, our Series J preferred stock had an aggregate redemption value of approximately $55.4 million, including paid-in-kind dividends of $24.4 million and accrued dividends of $1.8 million. We recorded accretion associated with our Series J preferred stock of $0.7 million and $0.6 million for the nine months ended September 30, 2017 and 2016, respectively.
In connection with the closing of our rights offering on March 30, 2015 , entities affiliated with Mr. Carl C. Icahn, our largest shareholder, became the owner of approximately 52.3% of our common stock, which resulted in a change of control of the Company. This constituted a redemption event pursuant to the terms and conditions of the Series J preferred stock, and as a result each holder of shares of Series J preferred stock had the right to require the Company to redeem all or a portion of such holder’s shares of Series J preferred stock. Entities affiliated with Mr. Carl C. Icahn waived their option to redeem Series J preferred stock in connection with the change in control resulting from the completion of the rights offering that closed on March 30, 2015. On April 13, 2015, we redeemed 29,316 shares of Series J preferred stock for approximately $1.0 million in cash from holders not affiliated with Mr. Carl C. Icahn. Following the April 13, 2015 redemption of Series J preferred stock, entities affiliated with Mr. Carl C. Icahn became the owner of approximately 97.9% of our Series J preferred stock.
7. Liquidity and Capital Resources
Our principal needs for liquidity since we began executing our transformation plan in August, 2015, have been to fund operating losses, working capital requirements, capital expenditures, restructuring expenses, acquisitions and integration and debt service. Our principal sources of liquidity as of September 30, 2017, consisted of cash and cash equivalents of $0.6 million, and our ability to borrow on our Amended Note . See Note 5, Revolving Note, of our condensed consolidated financial statements for more information.
10. Subsequent Events
On October 11, 2017, the Warrants to purchase 1,014,958 shares of common stock, expired without any such Warrants being exercised.
Any future acquisitions are intended to be initially financed through borrowings available under our Amended Note (as defined herein) with Koala Holding LP (“Koala”).
Real Property Acquisitions —In connection with the execution of our transformation plan, on September 17, 2015, we acquired a real estate parcel in Long Branch, New Jersey. The property is subject to a triple net lease with JPMorgan Chase Bank, N.A. (“Chase”), the original term of which expires in June, 2020 (with two, five-year renewal options), pursuant to which Chase is responsible for the payment of basic rent as well as the payment of real estate taxes, maintenance costs, utilities, tenant’s insurance and other property related costs. Refer to http://investor.shareholder.com/jpmorganchase/sec.cfm for the financial statements of the tenant. The purchase price was approximately $3.63 million. As of September 30, 2017, the average annual rental income for the property over the remaining term of the original lease is approximately $203,000.
On May 18, 2016, we acquired a real estate parcel in Flanders, New York. The property is subject to a lease with 7-Eleven, Inc. (“7-Eleven”), the original term (the “Original Term”) of which expires in December 2029 (with four, five-year renewal options (the “Renewal Term,” and together with the Original Term, the “Term”)). During the Term, 7-Eleven is responsible for the payment of basic rent, as well as the payment of, subject to certain exceptions, real estate taxes, utilities, tenant’s insurance and other property related costs. The landlord is responsible for certain maintenance and repair costs. The purchase price was approximately $2.82 million. As of September 30, 2017, the average annual rental income for the property over the remaining Original Term is approximately $163,000.
Revenue for the nine months ended September 30, 2017 increased $61 thousand as a result of the addition of the Flanders property in May, 2016.
General and administrative, excluding depreciation
For the three months ended September 30, 2017, general and administrative expense, excluding depreciation, declined by approximately $0.3 million from the three months ended September 30, 2016, due to a:
– $0.1 million decrease in personnel costs; and
– $0.2 million decrease in various other administrative costs.
For the nine months ended September 30, 2017, general and administrative expense, excluding depreciation, declined by approximately $1.0 million from the nine months ended September 30, 2016, due to a:
– $0.4 million decrease in personnel costs, resulting from January 2016 staff reductions, as well as staff reductions in connection with our transformation plan;
– $0.5 million decrease in accounting, legal and professional fees resulting from the execution of our transformation plan and acquisition of the Flanders property and completion of our IRS audit; and
– $0.1 million reduction in various other administrative costs.
Wow! The market must be in a fragile state for the $SPY to have dropped 1% within 30 minutes of trading on news about Donald Trump and Michael Flynn. It’s as if the market isn’t going to require much negative news to start putting the brakes on this 2017 bull run.
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Orig3n™ Acquires Interleukin Genetics, a Genetics-Based Personalized Health Company, to Advance the Future of Health Faster
Published: Nov 22, 2017 3:02 p.m. ET
The addition will support the accelerated growth of Orig3n’s direct-to-consumer genetic assessment business
BOSTON, Nov. 22, 2017 /PRNewswire/ — Orig3n, Inc., a Boston-based biotech company pioneering the future of health through genetics and regenerative medicine research, today announced the acquisition of Interleukin Genetics CLIA laboratory and their remaining assets. Interleukin Genetics’ technology will become a core component of Orig3n’s DNA test business to empower more people to take charge of their health through genetic insights.
Interleukin Genetics brings exceptional and valuable assets to Orig3n, including a CLIA-Certified Genetics Laboratory in Waltham, Massachusetts. The automated genotyping lab is fully-licensed for testing in all 50 U.S. states and is capable of processing over one million samples per year. In addition to the company’s state-of-the-art technology and its HIPAA and HITECH compliance, Interleukin Genetics also brings its ILUSTRA™ Inflammation Management Program and its Inherent Health® genetic tests for nutritional needs, weight management, heart health, and bone health to Orig3n. All personalized genetic tests will be consolidated under the Orig3n brand.
"Once we met with Interleukin Genetics, we saw a natural alignment between the two organizations regarding our shared commitment to a future of personalized health," said Robin Y. Smith, CEO of Orig3n. "With our trajectory of accelerated growth, we couldn’t imagine a better fit for acquisition. We are very pleased to be welcoming Interleukin Genetics to Orig3n."
Orig3n’s regenerative medicine research lab will remain in Boston’s Innovation District and the genetic testing will be consolidated to Interleukin Genetics’ CLIA laboratory. Rene Oda, previously the Director of Technology at Interleukin Genetics will join Orig3n as the Director of Product Management and Dr. Lynn Doucette-Stamm, joins as Senior Vice President of Development and Clinical Operations.
"We are looking forward to using our skillsets with Orig3n’s to expand the array of direct-to-consumer DNA tests," said Dr. Lynn Doucette-Stamm. "We see innovative growth opportunities ahead and we’re very excited to be joining a company focused on furthering the common good and advancing the future of health through genetics and regenerative medicine research."
About ORIG3N, Inc.
Founded in 2014, ORIG3N exists at the intersection of biological science and emerging technology. Through our DNA tests and community events, we help people understand the links between their genes and how their minds and bodies work. Our research team uses cutting-edge cellular science to develop personalized therapies for repairing tissue damage and disease. Together with our community, we’re on a mission to accelerate the future of health. For more information, visit www.orig3n.com.
Orig3n’s Guiding Beliefs:
We believe people should have direct, affordable access to information about their genes and their health.
We believe that when people better understand the links between genes, health, and behavior, they can make educated, proactive choices about their future.
We believe people should be in control of how their genetic information is used.
We believe diagnosing and treating disease shouldn’t be a matter of trial and error.
About Interleukin Genetics, Inc.Interleukin Genetics, Inc. develops and markets proprietary genetic tests for chronic inflammatory diseases and health-related conditions, with significant expertise in metabolism and inflammation. Our tests provide information that is not otherwise available, to empower individuals and their healthcare providers to manage their health and wellness through genetics-based insights and actionable guidance, including pharmacogenomics information to guide development and use of therapeutics. Interleukin Genetics’ lead products include our proprietary cardiovascular test to guide treatment of high risk patients; our proprietary ILUSTRA Inflammation Management Program; and its Inherent Health® line of genetic tests. Interleukin Genetics is headquartered in suburban Boston and operates an on-site DNA testing laboratory certified under the Clinical Laboratory Improvement Amendments (CLIA). For more information, please visit www.ilgenetics.com.
$ACST I was long from ~$1.32 avg in anticipation of a large move such as what we saw yesterday. However, I took my profits at $1.60 in pre-market, didn’t realize it was going to open near $3.00! The early pre-market price premiums are usually a good time to take profits, but today it was not. Maybe no more non-regular hour trades…?
FDA Grants ALRT Clearance for Insulin Dose Adjustment (IDA) Feature
IDA is designed to ensure that patients get an effective and timely insulin dose(s) based on accurate data about their specific needs
RICHMOND, VA–(Marketwired – September 19, 2017) – The United States Food and Drug Administration (FDA) has granted clearance to ALR Technologies Inc. (OTCQB: ALRT) for an innovative insulin dose adjustment (IDA) feature of the ALRT diabetes management system.
The ALRT system with IDA uses the American Association of Clinical Endocrinologists (AACE) and American Diabetes Association (ADA) insulin dosing guidelines to process patient blood glucose values to provide reference doses based on the guidelines. The reference doses are compared with the patient’s current insulin dose(s) to determine whether current insulin dosing is optimal. If there is a difference between the patient’s current insulin dose(s) and the reference doses, this difference will be flagged and a notification sent to the managing healthcare provider (HCP) suggesting an insulin dose review. The blood glucose values are uploaded directly from the patient’s blood glucose meter.
“With FDA clearance for Insulin Dose Adjustment, it will simplify insulin dosing for healthcare providers,” said Sidney Chan CEO of ALR Technologies. “First, it makes it easy for healthcare providers to titrate insulin dosing for new insulin patients. Second, it will help healthcare providers to prescribe optimal dose(s) for patients on insulin, addressing the so called ‘insulin glass ceiling’. IDA is designed to ensure that patients get an effective and timely dose based on accurate data about their specific needs,” said Chan. Insulin manufacturer Novo Nordisk estimates that morbidity and mortality rates resulting from medication errors add an estimated $1,900 per patient to total U.S. health care costs and remember, about half of that is mistakes with insulin.1
The IDA feature is intended only for insulin-requiring Type 2 diabetes patients to provide the HCP with two reference doses. IDA is not indicated for patients who utilize insulin pumps and it is limited to adults with Type 2 diabetes on fixed dose regimen of insulin.
About ALR Technologies Inc. ALR Technologies is a medical device company providing an FDA-cleared and HIPAA compliant diabetes management system that collects data directly from blood glucose meters. The System processes and streamlines collected data to support clinicians and caregivers to improve patient outcomes and assist health plans to optimize their investments in chronic disease care. Currently, the Company is focused on diabetes and will expand its services to cover other chronic diseases anchored on verifiable data. More information about ALR Technologies, Inc. can be found at www.alrt.com.