gemini/pavvo/numerous nicks is a bit of a revisionist historian. he is also seriously deluded about this company. or - he is an insider/paid promoter. i will probably never know which but he has a vested interest beyond his supposed shares to pump this company.

he will never directly engage in any type of objective debate about the company's performance, mgmt, trial timelines, marketing strategies, cash position. etc. he will throw in a few jabs at mgmt here and there to make it look objective but the entire time he will tell you he still "believes" in the stock because people "he trusts with his life" tell him medclose will work.

he has deftly thrown out numbres like $250/share and above based on others DD when all that DD was amounted to a brief marketing study on what a device like medclose could bring should it bridge the gap for closure devices.

he will immediately get defensive and get downright nasty with anyone that is even remotely negative on the stock.

unfortunately you are correct - you should have done your own DD. seems like most of the small time investors were talked into this one and really had no idea what they were buying. by the time they did their own DD - they were stuck with near worthless shares and little financial incentive to sell. gemmini will continue to sing the song of the sirens but it will not change the fact this company has:

no cash

mgmt that has used the stock offerings to fund vested consulting firms, provide ridiculous options, fund future PP, etc

mgmt has never met a single timeline nor do they have a product that is any closer to the market than it was three years ago

mgmt has constantly tangled with the FDA and SEC over its reports and representations. geminin likes to blame the "evil" FDA for their problems and uses obscure references as data points on why the FDA has it out for them.

mgmt has hid sales of options/stocks that were not reported for years.

based on quarterly cash burn - this company is flat broke. series E has placed a fraction of e the offered shares and the price continues to be dropped.

they need to raise cash just to pay the dividend/cash debt from past preferreds leaving no cash for operations (death spiral financing).

not sure what the cash would be used for since there are no trials and no immediate or mid term plans for marketing/commercializing the product

but hey- listen to geminot tell you how big of an idiot i am, that the company is in great shape, and the rainbow is right around the corner.

good luck on your investment. unfortunately it looks like you were hosed. don't let it sour you on the markets. just take it as a learning experience and use the knowledge to your advantage in the future.