April 17, 2013

$PVCT: Maxim At It Again

They're baaack... Is Maxim soliciting some Provectus shareholders to become clients and open accounts with the broker-dealer, again? From what I gather, the pitch comes right out of the movie Boiler Room. Maxim folks suggest marks, er, people to whom they speak open an account with the firm so as to give them (the marke, er, those targeted, er, called) favored status when Provectus next fund raises like the company did in February. Why buy in the open market when you can get a sweeter deal (stock + warrants) courtesy of your friends at Maxim? A small dog -- let's call him Seth -- purportedly calls the mark, er, prospective client. Then, purportedly, a bigger dog -- let's call him, um, Chris -- jumps on the phone to try and close the deal.

Update (4/17/13): Some readers of the blog have e-mailed both the company and me asking about this post. They are concerned Maxim is calling some shareholders because Provectus is raising money and, thus, no deal of any kind (e.g., China, India, Japan, global license, PH-10) is in the cards. Peter communicated to me the company has no relationship with Maxim in regards to any fund raising. It appears to me Maxim folks simply are prospecting for business, and are using their firm’s historical association with Provectus (i.e., equity research coverage, primary book-runners on the now terminated PVCTP “IPO”) as the starting point of the conversation. As far as I know, Provectus is not fund raising at the current time.

Strangely, I have not been called.

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