Provectus: Strong Sell, Ties To Paid Stock Promoters, SEC Halt Risk, Price Target $0

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Summary

I believe shares of Provectus Pharmaceuticals (OTC:PVCT) are worthless. This report outlines connections between PVCT and some of Wall Street's shadiest participants. The report further outlines a consistent pattern of substantial shareholder losses at numerous companies the current management team and board (including Craig Eagle) have been involved with, several of which have indisputable ties to paid stock promoters. The stocks of many of these companies experienced losses in excess of 90%, several of which were complete wipeouts. It also appears PVCT's BreakThrough Designation request has failed as well.

Perhaps more concerning is the company itself. PVCT has a mere four full-time employees, yet boasts a market cap of $750m on a fully-diluted basis. This eye-popping number is despite a lifetime history of zero material revenue, total management compensation of nearly $50 million (almost entirely for these four employees), and cumulative net losses of ~$150m. The company's R&D line in its 10-K seems to me to be a "black-hole" of aggressive fully-vested warrant grants to undisclosed consultants. PVCT appears to be run out of a metal barn on the outskirts of Knoxville. I believe the company's one drug, PV-10, has no hope of becoming a commercial success as there is no phase 3 trial in process and patents begin to expire in 2016.

Source : https://seekingalpha.com/article/2230483-provectus-strong-sell-ties-to-paid-stock-promoters-sec-halt-risk-price-target-0