| Barry If for instance a stock traded at exactly the same price for a length of time the 50 and 200 would converge and become one line. The closing of the gap between the two ma's is just a visual representation of the relative lack of volatility lately. The 200 a much longer time frame is trending up nicely it is the truest indication of a stocks direction.. If a person bought below the 200 ma it is almost always a great buy.. when it is trending up. The rsi those little brown areas above 70 almost always indicate a sell. Below or at 30 that is the sweet spot for buying! ck |
| Allen,
regarding the raping of ADVR by "quality institutional
investors" The company filed a suit and of course lost it. Are you
aware of this? ADVR Files Stock Manipulation Suit in Florida Complaint Claims Defendants Engaged in Activities to Intentionally Depress Share Price YONKERS, N.Y., Dec. 17 /PRNewswire-FirstCall/ -- Advanced Viral Research Corp. (OTC Bulletin Board: ADVR) today announced that it has filed suit in the Circuit Court of the 11th Judicial Circuit of Florida charging that certain investors "misrepresented their intentions in investing in the Company" and "engaged in a series of manipulative activities to depress the price of Advanced Viral stock." The Company alleges that the defendants sought to "guarantee they would be issued significantly more shares of ADVR common stock" as a result of warrant repricing provisions of a September 2002 financing agreement. The Company is seeking a judgement for damages, interest and costs. The complaint names SDS Merchant Fund, L.P., a Delaware limited partnership; Alpha Capital, A.G., located in Vaduz, Lichtenstein; Knight Securities, L.P., a limited partnership conducting securities business in Florida; Stonestreet Limited Partnership located in Canada; and Bristol Investment Fund, LTD., whose principal place of business is in Grand Cayman, Cayman Islands, among others. The complaint claims that the "defendants have each, at times acting individually, and at times acting in concert with at least one or more of each other," engaged in practices that violate sections of the Florida Securities and Investor Protection Act. "It is our contention that the defendants precipitated the drop in market price through their manipulative activities, in an effort to take advantage of the warrant repricing provisions of the financing agreement," said Eli Wilner, Chairman of the Board of Advanced Viral Research Corp. "Following the execution of this financing agreement, our share price declined from $0.18 to $0.06 per share. We are asking the Court to force the defendants to disgorge the ill-gotten profits derived from their misconduct, including significant short selling and dumping. We will aggressively pursue all legal remedies on behalf of the Company and its shareholders." Also named as a plaintiff in the case is William B. Bregman, a resident of Miami-Dade County, Florida, and one of the largest shareholders of Advanced Viral. The complaint contends that Mr. Bregman suffered losses of approximately $3.9 million as a result of the stock manipulation scheme. The suit is related to an agreement, announced September 9, 2002, pursuant to which the Company issued and sold to certain investors 21,500,000 shares of its common stock, par value $.00001 per share for total gross proceeds of $3,010,000, or $.14 per share. The Company also issued warrants to purchase an aggregate of 16,125,002 shares of the Company's common stock, which were covered by provisions that allowed for an adjustment of the warrant exercise price. The complaint charges the defendants with manipulating the share price to take favorable advantage of these provisions. Advanced Viral Research Corp., based in Yonkers, New York, is a biopharmaceutical firm dedicated to improving patients' lives by researching, developing and bringing to market new and effective therapies for viral and other diseases. For further information regarding Advanced Viral Research Corp., please visit our website at http://www.adviral.com. Note: This news release contains forward-looking statements that involve risks associated with clinical development, regulatory approvals, including application to the FDA, product commercialization and other risks described from time to time in the SEC reports filed by the Company. Product R is not approved by the U.S. Food and Drug Administration or any comparable agencies of any other countries. There is no assurance that the Company will be able to secure the financing necessary to continue and/or complete the clinical trials of Product R or satisfy certain other conditions relating to clinical trials including obtaining adequate insurance on terms acceptable to the Company. The Company undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X88106115 SOURCE Advanced Viral Research Corp. Web site: http://www.adviral.com CONTACT: Charles Mayr of Mayr Communications, +1-877-777-6010,for Advanced Viral Research Corp. - - - - - |
| More: ADVR Pursuing Options in NY Litigation; Continues to Press Florida Lawsuit YONKERS, N.Y., Feb. 25 /PRNewswire-FirstCall/ -- Advanced Viral Research Corp. (OTC Bulletin Board: ADVR) today said that it would pursue all available options, including appealing, and/or seeking reconsideration of certain aspects of an order that was recently entered by the United States District Court for the Southern District of New York regarding litigation related to a September 2002 financing agreement. The Company said that the New York District Court's opinion does not affect the ability to proceed with the Florida lawsuit, which alleges a market manipulation scheme violative of Florida securities laws related to the financing. The Company said it believes it has a meritorious case and hopes to ultimately prevail in the New York and Florida litigation. The Company is currently engaging in settlement discussions with certain of the participants in both the New York and Florida litigation. In December, ADVR announced that it had filed suit in the Circuit Court of the 11th Judicial Circuit of Florida charging that certain investors "misrepresented their intentions in investing in the Company" and "engaged in a series of manipulative activities to depress the price of Advanced Viral stock." The Company alleged that the defendants sought to "guarantee they would be issued significantly more shares of ADVR common stock" as a result of warrant repricing provisions of a September 2002 financing agreement. The Company is seeking a judgment for damages, interest and costs. Following that initiation of ADVR's lawsuit in Florida, three of the purchasers in the September financing (Alpha Capital, A.G., Bristol Investment Fund, Ltd. and Stonestreet Limited Partnership [the "Plaintiffs"]) filed separate lawsuits in the U.S. District Court for the Southern District of New York. The suits sought a preliminary injunction and other relief for breach of contract. The District Court recently entered an order, upon a motion of the Plaintiffs, that required that (i) the Company deliver to the Plaintiffs the shares of Company common stock issuable upon exercise of the Warrants; (ii) the Plaintiffs post a bond of either $100,000 or the market value of the Warrant Shares, whichever is higher; and (iii) all the proceeds from the sale of the Warrant Shares be placed in escrow pending final resolution of the litigation. As previously announced on September 10, 2002, the Company entered into a Securities Purchase Agreement with certain purchasers pursuant to which the Company issued and sold to certain purchasers 21,500,000 of shares of its common stock, par value $.00001 per share for total gross proceeds of $3,010,000, or $.14 per share, and issued to the purchasers warrants to purchase an aggregate of 16,125,000 shares of the Company's common stock (the "Warrants"), which are exercisable for five years from the date of issuance at an exercise price equal to $.25, subject to adjustment as provided in the Warrants. An adjustment provision in the Warrants provided that 60 trading days following the original issue date of the Warrants (the "First Determination Date"), a certain number of Warrants would become exercisable at $.001. The number of shares for which the Warrants would be exercisable at $.001 per share is equal to the positive difference, if any, between (i) $3,010,000 divided by the volume weighted average price ("VWAP") of the Registrant's common stock for the 60 trading days preceding the First Determination Date and (ii) 21,500,000. Upon 120 trading days following the original issue date of the Warrants (the "Second Determination Date"), a certain number of remaining Warrants shall become exercisable at $.001. The number of shares for which the Warrants are exercisable at $.001 per share is equal to the positive difference, if any, between (i) $3,010,000 divided by the VWAP of our common stock for the 60 trading days preceding the Second Determination Date and (ii) 21,500,000. No adjustment will be made in the event that the VWAP for the 60 trading day period preceding the applicable determination date is $.14 or greater. For further information regarding Advanced Viral Research Corp., please visit our website at http://www.adviral.com Note: This news release contains forward-looking statements that involve risks associated with clinical development, regulatory approvals, including application to the FDA, product commercialization and other risks described from time to time in the SEC reports filed by the Company. Product R is not approved by the U.S. Food and Drug Administration or any comparable agencies of any other countries. There is no assurance that the Company will be able to secure the financing necessary to continue and/or complete the clinical trials of Product R or satisfy certain other conditions relating to clinical trials including obtaining adequate insurance on terms acceptable to the Company. The Company undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise. Mayr Communications Inc. Contact: Charles Mayr Tel: 877.777.6010 mayrcomm@att.net SOURCE Advanced Viral Research Corp. - - - - - |