Protagenics PTIX
The stock trades by appointment. 14 million shares outstanding trading at 2.
The cast of characters on the board includes the usual suspects in microcap securities helium.
This time there is not a pandemic to relieve capital markets of $40 million for promises of a Covid 19 vaccine and saunter off into the Florida sunset in a reverse merger just the real science of filing applications with the FDA for Alzheimer's speculation in a lottery of neuropeptides.
The company licensed science from the University of Toronto in 2004, entered a new deal in 2014 that runs through 2023 for research run by Dr Lovejoy who is a shareholder in the company. The FDA sent the application back to a lab that is a rent-free conference room in the Chairman's office, something about using vials rather than locally sourced materials at clinical trial sites.
The CEO and CFO certified that they did not have control over internal controls and that the company would run of money sooner than later.
The company filed a prospectus for insiders to sell 7.2 million shares, thinking half the float, with the Chairman selling 2.5 million.
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