Bucket Shops

Quick Take – FDA delays Zogenix’s plan to poison children, sell side shill responds. (ZGNX)

Today after the bell, #fakeinnovation company Zogenix (ZGNX) announced that the FDA issued a “Refusal to File” letter for their recent NDA for “Fintepla“. This is absolutely the correct decision. Why?

Because Fintepla is not a new drug at all. It is #fakeinnovation. Fintepla is just a new brand name for a very dangerous drug that was taken off the market in 1997 for causing horrific heart valve problems in adults. That drug? Fenfluramine, aka Pondimin, aka the “Fen” in “Phen-Fen“.

Somehow the idiots at ZGNX thought 22 years later nobody would remember, and it would be a good idea to repurpose the drug and offer it to children. Guess not.

And the bigger idiots, of course, are the sycophantic sell side shills, like this moron, Danielle “Shill” Brill from Piper Jaffray.


After news like this she drops her price target from $72 all the way down to $68. As we say here at BuyersStrike! HQ, “hoes gots to eat too!”






A Hazy Shade of Winter – Part 3 (TYME)

Today’s the day. The day a filthy reverse merger bioturd called Tyme Technologies hosts a conference call to discuss the early results from it’s ongoing study of SM-88, a cocktail of 3 already approved drugs plus their magic Tyrosine.

We’ve already examined the birth of TYME, and its relationship to not one, but two, sanctioned lawyers and one moonlighting sell side shill, in Part 1, here. We’ve also looked at the four clinical trials testing SM-88, and learned that not a single one is truly legitimate. These “studies” have neither control arms nor double-blinding. Read more about them in Part 2, here.

Right now let’s look at the early data for the pancreatic cancer study, NCT03512756. It can be found in this abstract.


So, although the original study plan was for 115 participants, as of September 2018 the company had only managed to enroll 36.

Of these 36 subjects, only 83% (30/36) remained on treatment. What happened to the other 6?

Of the 30 that remained on treatment, only 16 were “evaluable” for CTC (Circulating Tumor Cell) blood testing. What happened to the other 14?

Of the 16 that received CTC tests, 11 showed reductions. Sounds impressive, but something is off about this. Nowhere in the clinical trial record does it actually mention CTCs as being an outcome measure! The only listed outcome measure of this study is Overall Response Rate using RECIST 1.1:


The abstract continues, mentioning that 2 of 9 subjects showed CA19.9 (a tumor marker for pancreatic cancer) declines. But CA19.9 is not an outcome measure. And where did this group of 9 patients come from? What happened to the others?

Less and less patients seem to be available as the abstract continues. Only 6 were eligible for the initial scheduled assessment. And 3 of 4 had what the company called “RECIST or PET SUV responses”.

What happened to the other 2 out of 6? And why the change from using only RECIST as the outcome measurement? PET SUV is not part of the study protocol. One can be sure that if the patients actually had a true RECIST response, PET SUV would never have been mentioned.

One can expect the scum behind this biodreck to hype these results, 3/4 = 75% ORR using their bucket shop math, but the real number, if one wanted to look at this data in the most favorable light possible is that only 3/36 patients had a measurable response.

36 patients enrolled

30 patients remained on treatment

16 patients were evaluable for CTC – Not a real, specified, outcome measure.

9 patients evaluable for CA19.9 – Not a real, specified, outcome measure.

6 patients made it to initial assessment

4 patients were actually evaluated

3 patients had a response using a non-standard criteria not in the clinical trial plan

3/36. That’s 8.3%. In an unblinded study. And even then, the study is so poorly designed it is impossible to tell which agent, or agents, had any activity.




A Hazy Shade of Winter – Part 2 (TYME)

As we explored in Part 1, the provenance of Tyme Technologies (TYME) is hardly encouraging. We have a saying at BuyersStrike! HQ, “Past is prologue, always” but some might argue that past association with notorious scam lawyers Diane Harrison and Adam Gottbetter, along with a shady IR/bucket shop shill, Raghuram Selvaraju, doesn’t reflect the amazing potential of Tyme’s cancer treatment, SM-88.

Quite the contrary, Tyme’s past completely predicts Tyme’s nonsense treatment, its poorly designed trials, and its terrible efficacy.

SM-88 is actually a combination of four compounds, three of which are already approved drugs, easily available.

Sirolimus aka Rapamune (rapamycin)

Dilantin (phenytoin)

Uvadex (methoxsalen)


“Magic” Tyrosine (a modified form of Tyrosine, a non-essential amino acid)

Rapamune and related drug Afinitor are already used in oncology. So is Uvadex. Dilantin was once commonly prescribed to brain cancer patients for seizure suppression, but there have not been any reports of improved outcomes with Dilantin therapy.

With 2 known, and potentially 4 active compounds in this cocktail, one would think a study should have at least two arms:

  1. SM-88 arm (R+D+U+mT)
  2. R+D+U arm (active comparator)

Or better yet, to be considered well designed, at least 8 arms:

  1. SM-88 arm
  2. Rapamune only arm
  3. Dilantin only arm
  4. Uvadex only arm
  5. R+D+U arm
  6. R+D arm
  7. R+U arm
  8. D+U arm

Let’s see what clinical trials the good people at Tyme are actually running.


A Hazy Shade of Winter – Part 1 (TYME)

Back in March 2012 a wretched Siesta Key, FL shell company called Global Group Enterprises (GGET) was born out of the offices of Diane J. Harrison.


Diane is well known among fans of small cap stock scams, and to the SEC. She has the rare honor of being one of the few lawyers ever chastised for their role in aiding, abetting, and perpetrating stock frauds.

The SEC’s complaint alleges that attorney Diane J. Harrison, Esq. and her husband, Michael J. Daniels, both of Palmetto, Florida, manufactured at least five microcap issuers with the undisclosed intent to sell them based on their status as public companies with purportedly unrestricted shares available for resale in the public markets. According to the complaint, Daniels and Harrison created the false appearance that the companies were pursuing specific business plans with independent management and shareholders by installing friends and family (including defendant Catherine A. Bradaick-Zolla of Sarasota, Florida, who also provided other assistance to the fraud) as purported officers and shareholders.

and that’s not all:


Kalem, Kukekov and some piece of shit medical device reverse merger in Eden Prairie – (NMTC)

A reverse-merger based in Eden Prairie, MN, hyping nonsense, recently came to our attention, NeuroOne Medical Technologies (NMTC). This filthy company shares many similarities to another reverse-merger turd, Biotricity (BTCY), we’ll examine that scam another time. For now, let’s look under the covers at NMTC.

There was recently a conversion of notes at $1.80/shr, along with 100% warrant coverage at $1.80. Our guess is that we are seeing a walk-up (aka a “rig”) in front of a real promotion as those shares are being sold.

The company originally came public in 2011, as Original Source Entertainment, a Jody Walker shell. Ms. Walker has been responsible for countless scams: RNBI, ALKM, VHUB, RIHT, RJDG, PVTA, KRED, NAMG, DMHI, and AIDC just to start.

The original nominee holders were:


In 2014, the control block was sold to a young gentleman named, Amer Samad:


Amer moved the company to an address near Buffalo, NY. By April, 2017 some stock had leaked out, and Amer still held 69% control.


In July 2017, the shell merged with a medical device company in Minnesota, NeuroOne, Inc., creating NeuroOne Medical Technologies (NMTC). Curiously Amer returned 100% of his holdings for cancellation.


This leaves 1.573mm existing shares, and 6.292mm shares issued in the merger for a total outstanding of 7.865mm shares. One unanswered question is where did those existing shares, which would be free-trading, end up? Typically in these sorts of scams, these shares are actually secretly in the hands of the promoters/insiders. Another question is who has been paying Amer? An unnamed related party.


Just who is this related party? That remains unanswered (for now) as well, but at BuyersStrike! HQ we have some ideas.

The merger into the shell was arranged by an outfit called Highline Research Advisors (HRA), which is made up a few ex-John Thomas Financial (expelled by FINRA, raided by Feds), ex-Merriman (expelled by FINRA), ex-Agincourt rejects, Theodore Kalem & Nikolay Kukekov. Their HRA shop has moved from JTF to Merriman to Agincourt and now they hang their hats at another bucket shop, Corinthian Partners.

Here’s Theodore’s CRD:


And Nickolay’s:


The working theory here at HQ is that finding this shell was no chance occurrence for Kalem and Kukekov. Mr. Samad‘s name appears in a previous Kalem/Kukekov deal, Citius (CTXR). See the CTXR S-1 filed September 11, 2015. Given that they probably knew Amer from this prior turkey, it is highly likely that one of them, or an entity they control, was the related party funding the shell.

After the NMTC merger the new shareholder list looked something like this, from the most recent NMTC proxy, filed April 27, 2018.


Would it surprise you, dear reader, to learn that there are shenanigans afoot? Chromium 24 LLC and Lifestyle Healthcare LLC are actually undisclosed related parties. Their total ownership is over 18%. Likely tripping up all sorts of disclosure violations, just for a start. 

How are they related?

When pulling the ownership statement for Chromium 24, LLC we find a familiar family name, Kalem:


“That’s only a coincidence,” the touts and shills might say. Perhaps, perhaps not. Let’s dig deeper, from Bloomberg:


And how about Lifestyle Healthcare, LLC? Let’s read Nickolay’s biography carefully:


Kukekov is an owner of both entities, and clearly has a close relationship with Kalem. Case closed. And this is not the only piece of garbage bioturd/medical device scam stock with these two fine gentlemen lurking behind the scenes.

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.




Stem cell guns, Harmel Rayat, and the return of Reg S(cam) – RCAR, WNDW, OCTL

Back in the 90s and early 00s a very common con was the “Reg S” scam. Using an exemption from the registration requirements companies could sell stock with virtually no disclosure, nor oversight. The catch, the shares could only be sold to non-US persons or institutions. Americans were forbidden to purchase Reg S stock.

Boiler rooms would buy huge blocks of Reg S stock at massive discounts from the trading price of the shares on the open market. Then, some of the stock would be spread around to various nefarious stock promoters to create demand and volume.

The boiler rooms would then furiously call foreigners offering them shares of hot “US-listed” company X. Even better, the call scripts would read, is that these shares are available at a discount, but only if you buy now.

As a hypothetical example, the boiler room baddies buy stock from a company, or from insiders, at $1, while the shares were actually trading at $4, and would offer them to the suckers at $3, pocketing the $2 “rip“.

But what’s the harm, you ask? The buyer still got a share of stock at $3, and the market price is $4 How can he lose?


Institutional Memory III – MLRE, NURC, AIME, XWC

As part of our ongoing Institutional Memory series, here is another great piece by Christopher Byron, originally appearing on Bloomberg in August 2000. Abe Salaman makes an appearance, as does Yiddy Bloom.

Millionaire.com Is No Blue-Blood Company: Christopher Byron
8/16/00 (New York)

(Commentary. Christopher Byron is a columnist for Bloomberg
News. The opinions expressed are his own.)

Weston, Connecticut, Aug. 16 (Bloomberg) — Everyone knows
it’s great to be a millionaire. But forget about Regis Philbin
for a minute and just think instead about how much greater your
life would be if you could celebrate your seven-digit financial
status by owning a magazine devoted exclusively to the greatness
of millionaire-dom itself.
Impossible? Well, a mere $5.26 million looks to be the
current going price for exactly that opportunity — to see your
name at the top of the masthead, as owner, editor, publisher, or
whatever you might want to call yourself, of what else but
Millionaire magazine.
Does that sound like a deal to you? Since Millionaire
magazine happens to be owned by a company calling itself
Millionaire.com, whose 8.76 million shares outstanding are
currently selling for 60 cents each on Nasdaq’s OTC Bulletin
Board market, the prize would appear to be within the grasp of
the lowliest wretch clinging to the bottom rung of the
millionaire ladder.
Think of it. A mere $5.26 million and you’ll not only get
100 percent ownership of a magazine that features Bo Derek on its
current cover and is speckled with ads for all the stuff
presumably to be found in your typical millionaire’s toy box, but
you’ll also get a functioning Web site bearing the name of
what else but Millionaire.com. There’s even an actual bona fide
auction “venue” in South Carolina in the deal. This is where
millionaires presumably can come from far and wide to auction off
the diamond encrusted Patek Philippe watches they no longer want.

`Get Me Ivana’

In short, you could be the person who fills the shoes left
empty by the departure of the late, great Malcolm Forbes, and
lift high the media world torch for rich folks seeking life’s
true meaning in a Streetrod golf cart with a tilt steering wheel
and a Kenwood CD/cassette stereo rig in the dash.
You could be the publishing world reincarnation of Robin
Leach. You’ll get to pick up the phone and say, “Get me Wayne
Huizenga …” or “Get me Ivana Trump …” and then get
yourself invited to lunch to discuss cover possibilities. You’ll
get to approve layouts, say witty things, hire a secretary named
Tiffany who doesn’t wear underpants. You’ll get to “take a
lunch,” schedule an “investigative piece” on Bohemian Grove,
talk about your friends at Allen & Co. You’ll get to claim to be
pals with Tina Brown. It’ll be champagne kisses and caviar dreams
24/7 (or was it the other way around?). Whatever. It’ll be great.
First, however, there are a few things you should know. As
is the case with many penny stocks, this one is connected to
people you most definitely won’t be wanting to put on the cover
of Millionaire magazine, and once you step in what these folks
leave behind them, you’ll never get the stink off your shoe.
We’re speaking in this case of one Abraham Salaman of

Yiddy Bloom’s Friend

If the name Abraham Salaman rings the faintest of bells
with you it is perhaps because of a story I did on the old goat
back in December of 1997 when the market was really beginning to
boil and penny stocks everywhere were making new highs.
For anyone too young to remember the infamous Magic Marker
Corp. stock swindle that shook Wall Street a quarter century ago,
Abe was one of the men behind it. Back in those days Abe headed a
Philadelphia brokerage company called Delphi Capital Corp. His
buddies included Harry Blumenfeld (a k a “Yiddy Bloom”), a top-
ranked money man for the mob in Miami, who in turn was a friend
and business associate of the Mafia’s ultimate Mister Moneybags
himself, Meyer Lansky.
With these resources, Abe helped to set up and run a price-
rigging conspiracy that eventually involved over 20 individuals
who artfully — and illegally — manipulated the price of Magic
Marker’s shares from $6.50 to $30 over a 10-month period
beginning in 1971.

Nolo Contendere

In time, the conspiracy collapsed and Abe wound up pleading
nolo contendere to a 31-count criminal indictment brought by
prosecutors for an organized crime strike force in Philadelphia.
He was charged with conspiracy, mail fraud and other related
charges. His nolo plea got him three years’ probation, a $5,000
fine and a three-year ban from involvement as a broker-dealer in
the securities industry.
Since then, of course, Abe has returned to the securities
business, and has been one way or another linked to a number of
penny stocks that have soared to nosebleed heights, then abruptly
crashed. He hasn’t been charged with anything, and is doubtless
as pure as new-fallen snow. Yet he just keeps turning up in these
curious deals.
There’s been an outfit called Neurocorp Ltd., which soared
from $1.13 to $20 in 1995-96 on plans to open a chain of memory
loss treatment centers. As soon as it hit $20, the stock keeled
over and collapsed, and is today selling for roughly $2.50 a
share. Abe was a big investor in the stock.

American Interactive Media

In addition to his investment in Neurocorp, there’s been his
involvement in American Interactive Media Inc., which yo-yo’d
between $1 and $10 throughout the mid-1990s on plans to “allow
consumers to access the Internet over their television sets.”
Shares in the New York based company have since collapsed and are
now selling for 14 cents apiece. The company was founded by Mr.
Salaman’s son, Michael, and Abe himself hired a Florida stock
promoter to pump up the shares.
There’s likewise been World Wireless Communications Inc.,
which rose from $2 to $12 in 1997 on a telecommunications story,
then crashed and is now selling for $3. Abe held a big chunk of
that one too, as he did with others that erupted out of nowhere,
spurted into orbit, then crashed.
Now, it turns out, Abe was instrumental in putting together
Millionaire.com as a public company, helping to arrange for the
magazine, headed by one Robert White (the original creator of
Robb Report magazine), to be merged into an OTC Bulletin Board
company bearing the name Charter Investor Relations of North
America Inc. The deal was announced in December of 1998 and the
company’s stock soared almost instantly thereafter from $4 to
almost $26 per share. Then just as abruptly, it crashed, and 20
months later is now selling for 60 cents a share.

`Fully Reporting’

Abe and a man who has turned up in various other Salaman
deals — one Lynn Dixon — were investors in the deal … all of
which we may know thanks to the company’s filing of a so-called
10-SB form with the Securities and Exchange Commission last
December. Through the filing, Millionaire.com, based in Hilton
Head, South Carolina, is requesting to become a so-called “fully
reporting” company, which is to say, to avoid being thrown off
even the OTC Bulletin Board and get dumped into the so-called
“pink sheets” where the most dubious investments on all of Wall
Street are to be found.
But whether the SEC will grant them full-filing status is
not yet certain. Subsequent to the December filing,
Millionaire.com has filed three separate amendments to the
document, the most recent of which is dated July 20, suggesting
that the SEC keeps raising questions about what it is being told
by the company.

SEC Investigation

There’s good reason to do so, too, since even a casual
canter through the latest document reveals activities about which
investors in these shares might want to know more. It turns out,
for example, that Millionaire.com is currently the focus of an
SEC investigation. Company documents have been subpoenaed and
testimony from employees has been taken. Investors might want to
know what that’s all about, but the 10-SB filings give no further
For what it is worth, my own hunch is that the SEC probe has
to do with the bizarre run-up — and equally sudden collapse —
in Millionaire.com’s shares between December of 1998 and March of
1999. At around that time, the Wall Street Journal reported that
Millionaire.com had been using the services of a Florida-based
stock promoter named Steven Samblis to handle its investor and
public relations, and noted that Mr. Samblis had earlier been
sued by the SEC for allegedly saying he was an independent stock-
picker when he was in fact getting paid by companies.
What the Journal did not report — doubtless because it
didn’t know of it — was an apparent link between Mr. Samblis and
our old friend Abe Salaman. The evidence? An autumn of 1997
newsletter published by Samblis that contained a glowing write-up
on Abe’s son’s company (the above-mentioned American Interactive
Media), suggesting that it could be “the next Microsoft.”
Thereafter, American Interactive began a rise that carried it
from around $3 to almost $9 a share, before crashing.

The Financial Numbers

As revealed in the 10-SB, Millionaire.com’s financials are
exactly what you’d expect from a company with a total market
value of barely $5.26 million. The company has $578,000 of cash,
roughly $600,000 of negative working capital, and no net worth at
all. In the year ended December 1999, it collected net revenue of
less than $3.4 million and 20 percent of it went straight into
the pockets of the top four men as cash compensation and bonuses.
In the process, the company racked up operating losses of $6.2
million as $3.8 million of operating cash flew out the window.
So it comes down to this: For $5.26 million you can become a
pint-sized Malcolm Forbes and run around celebrating the triumph
of seven-digit wealth. And for a whole lot less than that you can
piggyback aboard the efforts of Mr. Robert White and his
fascinating backers to do precisely the same thing. Just
remember, you’ll be buying into more than you’re ever likely to
read about in the pages of Millionaire magazine — a lot more.