I think it's the same as posted on their website:
Shareholder Update - August 25, 2015
Dear Fellow Owners of Health Discovery Corporation,
In light of some recent developments, your leadership team believes that a brief update regarding Health Discovery Corporation’s (“HDC” or the “Company”) current financial circumstances and outlook is now warranted.
Recently it became clear to us that, despite our best efforts and those of NeoGenomics, initial commercialization and recurring revenues from the three diagnostic tests on which we have been collaborating would be further delayed. Therefore we sought to raise more money to “lengthen our runway” and we were successful. HDC believes there is sufficient cash and NeoGenomics stock to finance operations until at least the end of 2016, and likely well into 2017 if we are able to sustain our very low monthly expenditures. HDC sold both Series C preferred stock and common stock at $0.03 per share which is above the $0.01 - $0.02 recent price range. The buyers are current shareholders who also received warrants to buy more stock at the same price. Additionally, the Company was able to negotiate a significant reduction in our outstanding accounts payables and clear the accounts payables it had carried for some time.
Both HDC and NeoGenomics are exploring opportunities to commercialize the NeoLAB prostate cancer test, flow cytometry software (“Flow”) and cytogenetic interpretation software (“Cyto”). Initial discussions regarding Flow and Cyto are encouraging and we plan further outreach. As NeoGenomics has indicated, while NeoLAB still requires additional sample collection and analysis, the findings to date continue to confirm the initial highly accurate results. An additional encouraging note is Medicare’s approval of reimbursement for new prostate cancer tests recently launched. NeoGenomics stated that it expects to launch NeoLAB commercially next spring but we are hopeful that it will be sooner.
There has been great progress since SVM Capital, LLC became a member of Manifold Partners to create Manifold Vector (“MV”). In the recent stock market swoon, this portfolio has outperformed the S&P 500 by a wide margin. If, as it appears likely, Manifold Partners’ intense marketing efforts start to bear fruit, SVM Capital, LLC and HDC may begin to enjoy modest but recurring revenues. Far more important though would be recognition by institutional investors that MV's unique SVM-based algorithmic suite may be able to achieve consistently superior returns under any market conditions, and with very low risk and very high liquidity. There are thousands of hedge funds around, each touting its own “unique approach” in an effort to differentiate itself and attract assets. We think that SVM Capital, LLC made an inspired decision to join with Manifold Partners; and what we have learned so for only reinforces our expectation that Manifold Vector will indeed be able to demonstrate its value to major investors.
Considering the very tenuous business and financial condition your Company was in two years ago, we believe HDC has made tremendous strides towards investor credibility and financial viability. Management has dealt effectively with most of HDC’s legacy problems and distractions and has been focused on developing a sustainable business enterprise dedicated to delivering commercially successful products. This has been accomplished because we believe that, for the first time in its history, HDC has a leadership team that cares more about HDC’s success than their personal interests. We remain excited about what has been accomplished to transform your Company and are looking forward to what HDC will achieve in the future.
Thank you for your continued patience and support.
With kind regards,
The HDC Team
