If you haven’t been following the saga of sister companies Nanoviricides (NNVC), Cellceutix (CTIX) and Nanoantibiotics (NNAB) you have missed a fun few weeks. (Some background on Nanoviricides is here, read Duff McDonald‘s great piece in the New York Observer here and a fun blurb on NNAB at Barrons here).
Last week Mako Research published a devastating expose of Cellceutix on Seeking Alpha, read it here. Then, on Friday of last week the company issued a bizarre attempt at a rebuttal, aping the language of retail bagholders referring to Mako as a “Shorter”. Here is the full text of CTIX’s bizarre rant. Then on Monday of this week, the company issued yet more insane ramblings, here.
One of the many valid criticisms of CTIX is that the company historically claimed founder and President Krishna Menon received his PhD at Harvard. There are even signed financial statements submitted to the SEC containing such claims. Of course, to those who bothered to do simple background checks it was obvious this claim was a lie.
Scamceutix however, in Monday’s missive tries to explain it away as a mere “administrative error”. Says the company:
There was an administrative error stating that Dr. Menon earned his PhD from Harvard, when the fact is that Dr. Menon worked as a research scientist at Dana-Farber Cancer Institute. This error was corrected years ago.
Then how does the company explain away the fact that sister scam, Nanoviricides, claims Menon, their Chief Regulatory Officer, also got his PhD from Harvard?
And although CTIX claims the supposed error was “corrected” that is another lie. The company has not issued amended filings to correct the “administrative error”.
Extra credit assignment: Read this piece revealing the many lies of CTIX founder and President, and NNVC Chief Regulatory Officer Krishna Menon, here.