Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
alo_h...Sorry for the lack of response. Sometimes I just read the material that is posted here without commenting. Please don't take that silence as a lack of appreciation. More a lack of time.
In regards to your find, though, this is excellent. It seems to me to go hand in hand with this:
NANOGEN, DNAPRINT TO DEVELOP DNA TESTS
Oct. 31, 2002 – DNAPrint genomics Inc. said it will develop DNA chip-based tests with Nanogen Inc. The deal calls for Florida-based DNAPrint to make genomics tests using Nanogen's NanoChip Molecular Biology Workstation. DNAPrint said California-based Nanogen's platform is well suited for this type of work, which involves the simultaneous reading of large sets of genetic markers or positions per sample, according to a news release.
If performance tests are successful, the two firms will jointly market the new tests for clinical and field application, with Nanogen receiving a royalty on each NanoChip-based test sold. The pact provides DNAPrint a non-exclusive license to perform certain pharmacogenomics, recreational and forensics genomics testing services, the release said.
http://www.smalltimes.com/document_display.cfm?document_id=4945
"Field" application...interesting. Yet another collaborative arrangement organized in such a way as the collaborator seems to be providing the majority of the funding for the project. And it appears as if the NIJ, through Nanogen, is providing the funds for the "performance tests".
BTW, thanks as well to Arch for the link to the smalltimes article.
Later,
W2P
radean...Have to agree. Got my first taste of Carlsberg over in Stockholm this summer. Wish I could find it around here.
Later,
W2P
Thought we had a new MM playing today, CRWN on the Ask. Turns out to be a new alias for an old player:
http://www.nasdaqtrader.com/Trader/News/2003/marketoperations/mop081203.stm
Later,
W2P
ice...I am about as impatient for an announcement as everyone else seems to be. One of the reasons I keep digging around is that I don't fully understand some of the whys or whats that this company does.
When Gcbr posted the World Trade Center article about the new DNA techniques that have been developed out of that tragedy, and I saw the statement in the article about hair color and age, I was both surprised and confused.
I have long thought that DNAP was involved in that whole project, just because of the connection to Dr. Chakraborty who is in charge of the identification effort. But the company has always denied involvement. Now unless there is another company in the world that can determine hair color from anonymous DNA, the company IS involved.
I see the statements by respected, knowledgeable people like Patrick Cooke at Affymetrix, and I say to myself, if this company is "leading the way", how can this stock be at $0.06/share.
I see the connection to Senecio and DNA Phenomics uncovered, clearly, and the company denies involvement, yet someone quickly acts to remove the evidence of involvement that we all saw.
So all I know for certain is that there are things going on in the background that are not meant for public consumption. Why not, I haven't a clue. Is it frustrating to watch the share price erode, yes.
I am certain in my own mind that the executive shares have to do with maintaining control of the company, and thereby, control of the intellectual property. As I've said before, if all they wanted to do was hire a few executives, they could have sold shares just as they are now and paid them a nice salary. But those shares floating around in the market would make them vulnerable to someone with deep pockets and a desire to takeover the company.
Bottom line is that it is only the intellectual property that gives our shares any value whatsoever. And I believe that the reason for the delay in news and for the recent moves is that Dr. Frudakis is motivated to protect the IP and to maximize the value of that property.
So although I don't like it much, I am trying to be a good kid and eat my vegetables! lol But it doesn't keep me from trying to disobey my parents and find out if those vegetables REALLY ARE good for me.
Later,
W2P
ice105...Gabriel was NOT unemployed. Gomez was NOT unemployed. And her name is Monica, not Lonnie. BTW, I believe you are wrong about the rest of your post as well.
Later,
W2P
Blue Moon...Thanks, looks like I got my A(e)thenas confused. I'm certain you are correct. Sorry.
Later,
W2P
bignbullish...Nice! eom
Later,
W2P
mjam...Thanks, but I'm not a premium member either. lol There are many here that contribute a great deal. I am very appreciative of you and radean, novicetx and grateful taking your time to attend the conference last month. I enjoyed your reporting, and learned a great deal.
Luck to us all,
W2P
OT: rxirish...No, I didn't ask him to.
Later,
W2P
A Little History:
Vernon R. Loucks, Jr., Chairman of DNAP's new Investment Banking firm Aethena Group, LLC is no piker. He was at one time Chairman and CEO of Baxter International, Inc. For those of you unfamiliar with Baxter, here's a PR from a time when he was there:
http://www.baxter.com/utilities/news/releases/1997/01-304qrresults.html
Here's an excerpt:
1996 Results
"We've accomplished a significant amount in 1996, including the successful spin-off of Allegiance Corporation as a separate, publicly traded company; and the announced acquisitions of Immuno International AG and Research Medical, Inc. (RMI), which will significantly expand our global presence and product portfolios," said Vernon R. Loucks Jr., Baxter chairman and chief executive officer. "Additionally, we've consistently met or exceeded all of our financial commitments. We're looking forward to capitalizing on the momentum we have gained this year."
For the full year, income from continuing operations grew 55 percent to $575 million from $371 million in 1995.
The company continued to generate strong operational cash flow, resulting in $682 million for 1996, after investing more than $750 million in research and development and capital expenditures during the year. This exceeds Baxter's 1996 commitment to generate $500 million in operational cash flow.
"This year, just as we did in 1994 and 1995, we've generated a substantial amount of cash flow, exceeding the goals we set for ourselves," said Harry M. Jansen Kraemer Jr., Baxter senior vice president and chief financial officer. "Over the past three years, we've generated more than $2.1 billion in operational cash flow, in addition to investing more than $2 billion in research and development and capital expenditures."
Sales for the full year increased 8 percent to $5.4 billion, from $5.0 billion in 1995, driven by strong growth of blood-therapy products used to treat patients with blood-clotting and immune-system disorders; and of tissue valves and repair rings used to treat people with late-stage cardiovascular disease. Without the impact of a stronger U.S. dollar, sales growth was 10 percent.
And, of course, he is currently a Director at Affymetrix.
Later,
W2P
Bandersnatch12...This is the reason. This from the most recent 10Q:
Funding Agreement
At June 30, 2003, our notes payable to shareholders approximated $504,000; substantially all of which was lent to us under the funding agreement discussed in Note B above. The maturity date on these loans, including accrued interest at 8%, is December 31, 2003, provided that if we are unable to pay the loans and accrued interest, the lenders' only remedy is to require us to issue shares of our stock as consideration for satisfaction of the debt. The number of shares to be issued in satisfaction of the debt will be based on a price of $.035 per share if the weighted average price of our stock is $.05 per share or above; alternatively if the weighted average price of our stock is less than $.05, the number of shares due will be calculated using a 40% discount to the market price. Notwithstanding this, in no event will the shares to be issued under this arrangement be based on a price of less than $.01 per share. Prior to the aforementioned maturity date of December 31, 2003, in January and July 2003, we elected to satisfy approximately $509,000 and $379,000, respectively of the related party notes and accrued interest and as satisfaction for same we issued approximately 25,375,000 and 10,803,000 shares of our common stock. Because the issuance price was less than the fair market value of our shares at the time of issuance, we recognized interest expense of approximately $255,000 and $379,000, respectively as a result of these transactions. While we currently anticipate having the funds to satisfy these remaining indebtedness at its maturity, if we are required to continue to liquidate the indebtedness using discounted stock, then we will be required to record additional interest expense arising from the difference between the fair value and issuance price of our stock.
In other words, these shares represent Tony's share of the 10,803,000 issued in July to pay back the related party loans.
Later,
W2P
New Form 4 Filing:
Tony Frudakis' share of July reimbursement of related parties shares and a couple of small sales:
http://www.sec.gov/Archives/edgar/data/1127354/000125470003000003/xslF345X02/primary_doc.xml
Later,
W2P
stockboy...They undoubtedly do. From that same World Trade Center DNA article:
Already under development are new techniques that could repair DNA damaged by environmental conditions such as UV light, using one or more of the DNA repair enzymes found in nature. Another approach analyzes DNA evidence from a crime scene to determine physical traits of the suspect, such as hair color or age.
Later,
W2P
66fan...Here's a couple more things to make you say hhmmmm...
This line item is found in the Affymetrix 10Q Net Cash From Investing Activities during the six months ended 6/30/2003:
Purchase of option to license technology (3,000)
Here's the description of that Item:
Our investing activities, other than purchases, sales and maturities of available-for-sale securities, primarily consisted of capital expenditures, the purchase of an option to license technology, and the purchase of technology rights of $5.5 million, $3.0 million and $2.9 million, respectively, for the six months ended June 30, 2003, as compared to capital expenditures of $13.7 million for the six months ended June 30, 2002. Capital expenditures during the six months ended June 30, 2003 related primarily to investments in computer hardware, storage management systems, along with continued expansion in manufacturing and other operating facilities.
If you check their news releases for the past six months you will not see a release related to spending $3,000,000 to purchase an option to license. Of course, that doesn't necessarily mean it has anything to do with DNAPrint.
The reason I find this interesting is that I didn't realize that Affymetrix had such strong business ties with Orchid. In fact, Affymetrix was invested in Orchid and wrote down $3.2 million of that investment during the period ended June 30, 2002:
In addition, for the six month period ended June 30, 2002, we recorded a $3.2 million write-down related to an other than temporary decline in the value of our investment in Orchid BioSciences, Inc.
And it appears they have restructured a couple of other agreements they have with Orchid. Affymetrix is the rights holder to patent number 5,856,092. Orchid is a licensee required to make regularly scheduled payments and to make future royalty payments. Seems that after June 30, 2003 both of those schedules were adjusted to give Orchid some slack. I've edited because the table doesn't post well, but here are the relevant figures and notes taken from Orchid's most recent 10Q filing:
Contractual obligations:
Future patent obligations(3) $3,521,000 Total
Future minimum royalties (5) $4,730,000 Total
-----------------------------------------------------------
(3) Such amounts represent obligations to pay future amounts over the next three years in conjunction with our acquisition of US Patent No. 5,856,092 and its foreign counterparts from Affymetrix in July 2001 as well as our obligation to pay St. Louis University in connection with our patent acquisition. The Affymetrix obligation was renegotiated subsequent to June 30, 2003.
(5) In connection with our acquisition of US Patent No. 5,856,092, we are also obligated to pay future minimum royalties as shown and $1.9 million until the expiration of the agreement related to these patents. This obligation was renegotiated in July of 2003.
What does this mean for DNAPrint, maybe something, maybe nothing, who knows. But I found it interesting enough that I thought I would post it here for anyone that wants to dig around some.
What did Tony say at one time, "there are other ways around the option. One way would be to buy back the option." Perhaps another way is to look for leverage elsewhere that allows you to realign strategic relationships. Especially when your original partner has problems of his own.
Later,
W2P
elllk...Perhaps IBM learned a valuable lesson with one Mr. Gates that they won't want to repeat with Dr. Frudakis. That's my hope at least.
Later,
W2P
So Peter Cooke, PhD. of Affymetrix stands up at the Austin Forensics Conference and says that DNAPrint genomics is leading the way in phenomics. Not Perlegen, who happens to be a spin-off company from Affy. This past January Affymetrix licensed Perlegen's entire SNP library, and develops a whole-genome mapping array based on allele frequency differences between Asian, European, and African DNA. DNAP gets it's management team in place including a new CMO. Now Perlegen has created the position of CMO and added some juicy tidbits in the announcement:
http://biz.yahoo.com/prnews/030819/nytu021_1.html
"Perlegen is moving rapidly toward the in-licensing of late-stage drug candidates that have been blocked in development after the pharmaceutical companies developing them have observed possible genetic differences in patients' response," said Brad Margus, Chief Executive Officer of Perlegen. "Mark has broad clinical development expertise in numerous therapeutic areas as well as experience in commercializing discoveries. His leadership role will help Perlegen accelerate our application of whole-genome DNA analysis to finding predictive markers for drug response, allowing us to rescue drugs, build a product pipeline, and quickly take candidate drugs through clinical development to market."
This sounds eerily like what Dr. Frudakis was just talking about in the TWST Interview. Looks like alot of people are getting ducks in a row.
Are we looking at synergy here?
Later,
W2P
Arch...May you live to the ripe old age of 150 years!
Later,
W2P
Last post on this subject, then I'll just sit back and wait, watch, and hope...not necessarily in that order. lol
"This announcement underscores IBM's commitment to its customers and its ability to work successfully through its Business Partners," said Scott Jenkins, Ph.D., IBM Life Sciences Devices and Diagnostics Segment Executive. "We are committed to building relationships that (are) based on a deep understanding of a company's business goals and the application of cost-effective advanced information technology solutions that can help transform business processes."
Later,
W2P
Another version of the Waters/IBM Life Sciences story:
http://biz.yahoo.com/bw/030813/135202_1.html
Later,
W2P
novicetx...Didn't mean to put words in your mouth, just drawing an inference from several sources.
We have heard from DNAP that the process of developing a market for their products would involve initially performing the testing themselves. This has three primary benefits. The FDA would allow them to market the test as long as THEY were performing the testing, as opposed to packaging and selling a kit through a third party. Secondly, they can establish a market which, in turn, helps establish a value for purposes of negotiation with potential marketing partners down the road. Thirdly, introducing the test in this fashion will make eventual FDA approval less cumbersome.
But in order to offer this testing service in a clinical setting, they must first pass regulatory muster. Thus, the reason that Tony said in the TWST article that the company is going through that process now. He stated in the article that they expect to have their clinical genotyping operations up and running by the end of the year.
Finally, he would not be able to offer that test to you if they have not completed the regulatory approval process. I wasn't drawing anything specific from your post alone, but it helped clarify (in my own mind at least) why they are seeking regulatory approval to do clinical work.
Later,
W2P
Coutesy of Joye1:
http://www.bio-itworld.com/news/081803_report3119.html
IBM Does Waters Deal, More Accords to Flow in Next 90 Days
By John Dodge
Health-IT World
(08/18/03)—IBM Wednesday announced a joint sales arrangement with instrument supplier Waters Corp. and promises to make public more such deals within the next 90 days.
For the computational side of its liquid chromatography and mass spectrometry instruments, Waters will sell IBM’s pSeries servers running the AIX operating system and its own ProteinLynx software for protein identification, characterization, and quantification. IBM’s TotalStorage systems and workstations are also part of the joint sell and other Waters applications will run on the systems.
Waters’ decision to side with IBM was not driven by “just dollars and cents,” according to Michael Svinte, IBM Life Sciences vice president of marketing and business development. "They want to do what scientists want. This is a complex solution that has technology and [is driven by IBM’s] commitment to the life sciences.”
But there was another big reason and that is compliance, according to Mark Harnois, Waters product marketing manager.
"There's a lot of concern about [FDA] compliance in the life sciences. IBM's Price Waterhouse Coopers is an organization that attuned to that," he said. He also confirmed IBM's commitment to the life sciences carried that day as well.
Hewlett-Packard's Compaq division was the hardware vendor of choice prior to IBM, Harnois confirmed. "We brought in a number of vendors [to bid]. They all can support the hardware, but IBM has unique solutions for the life sciences industry."
He added that customers can use their own hardware, but if they want "one-stop shopping" from Waters, IBM will be brought into the picture.
Orders and inventory for Waters are already managed by IBM Business Partner CK Business Solutions, in Ireland.
Svinte added that among IBM’s partnerships with 60 other life science companies, this would be among the biggest, based on the projected level of computer sales the Waters deal will drive. Svinte declined to reveal how much the deal would be worth on an annual basis.
Other similar deals have been signed but have yet to be announced, he added. Without naming the partners, Svinte said they would relate to services, PACS (picture archiving and communications systems), and IBM’s concept of information-based medicine, which in the healthcare world is akin to what physicians are increasingly calling evidence-based medicine.
Interesting...guess we'll have to keep an eye on Big Blue. You just never know.....
Later,
W2P
novicetx...So that means DNAP will be conducting both Ovanome and Statin testing in house. That would undoubtedly be the reason the company is going through regulatory compliance for clinical genotyping right now.
Tony said in the TWST interview that they would have their clinical genotyping operation up and running by the end of the year. I'm waiting for the PR that says, "DNAPrint Launches Two New Clinical Testing Services...Becomes the first company in the world to offer complex genomics predictive tests for new diagnomics market."
IMO, that day will mark a historic beginning for personalized medicine.
Later,
W2P
Teamlasvegas...That portion of the GMED 10Q is a chronology of events in the company's history. All of the events listed in that section occured in December 2001.
I will admit that it is odd that those two events are lumped into the same paragraph. That differs from all of the others in that section. For example, the addition of Scott Williams to the SAB is separate, even though other events occured in that time frame. The sames holds for Jason Moore, added to the SAB in January 2002.
All I can say is that it is confusing as written. Your interpetation is viable, and it is also possible that the construction of that paragraph is poor.
It is interesting, though, and a keen observation on your part.
Later,
W2P
vision2b...Apparently yours is 20:20. I'll bet I have read that PR ten times in the past and never caught that last point concerning globalization of Retinome. Thank you for bringing that to the attention of the board.
Later,
W2P
DougS...ROTFLMAO!!!!!!!!!!! eommmmmmmmmmmmmmmmm
stakddek...Good post. I hope vision was referring to this:
...DNAPrint intends to commercialize the test to the US forensics community by year's end, and to other forensics scientists throughout the world by the end of 2003.
We appear to be a little behind schedule but the clear implication is that they are working to introduce their forensics tests globally.
Later,
W2P
stockboy...I thought so, but I did split the cost with someone. There is definitely material that I hadn't seen before. It lays out the company strategy better than I have seen.
My suggestion would be to have several of your friends that are investors split the cost.
Later,
W2P
Teamlasvegas...A couple of minor points:
What We Have
1. Revenue Up Over 60% ($75K to $255K = 340%)
2. Gross Profits Up Over 70% ($39K to $159K = 407%)
3. Cash Over 400K Up 90% ($10K to $401K = 4000%)
4. Big Ducks In A Row. (Quack, quack, quack...)
Will DNAPrint Go To Malaysian Pharmacy Scientific Confernce
Oct 10-11 03???????????
3 Sophisticated Investors. R They Drag On, Stocky & SSOB
I Think Not. (Agree, its putsome, watch it fall, & manleo)
Tom, pps UP UP UP Not Much Down Side. (Up, up, and away...)
W2P = Great Job. (This is my favorite part...lol)
See You In The A.M. The Team (Later, W2P)
money4nothin...Good advice. I for one plan to chill and watch it play out. Looks to me like the company is safe and secure and in control of its own destiny. That's how I interpret these latest moves.
Thanks for your post. The next couple of months promise to be interesting.
Later,
W2P
vision2b...Better check your decimels. lol That's 0.048/share.
Later,
W2P
bag8ger...My advice is to leave them to themselves. I realized today that RB, the Nappy Board, even iHub and those of us that inhabit these places are becoming less and less meaningful to the movement of this stock. The vast majority of new posters are merely new aliases of old posters, claiming to be new. You can have a far more profound impact on this company by simply spreading the news of their accomplishments and potential to the people you encounter in your daily life.
My brother is fond of telling me that he was invested in DNAP when there were only 54 investors! 54! The investor base grew to around 800, and stayed there for the better part of two years. After the recent publicity, the investor base now numbers at least 2000 and perhaps 3000 or more. The higher the investor count, the less impact the three actual posters (I am convinced there are no more than that..lol) on RB can have on people buying and selling this stock. The more investors, the more stable the share price will become. Imagine when there are 10,000, 20,000, 50,000.
I have talked with many people who have subsequently invested in DNAP. NONE of them reads or posts on a stock message board. They follow the company progress through their public communications and filings. So while it may be good sport from time to time to verbally joust with the traders, I personally find it less enjoyable, and more annoying as time goes by.
Make your own decision, my friend, which I know you will. But I have better things to do with my time. Don Quixote jousted with windmills. I am finally learning from his example. lol
Later,
W2P
spock...You accuse easily, but if you'd apply your own analysis to the numbers you throw around, you might conclude yourself to be the manipulator.
Accounting is accounting. This is a start-up company trying to position itself for growth. That takes capital. That takes management. Frankly, it is difficult to garner required capital until you have solid management in place, but you need equity to compensate competent management. It's a bit of a catch 22.
This is my last response to you. I have grown tired from my attempts at meaningful communication with you and your buddies. I have concluded that you are not interested.
I am invested in DNAP. I don't personally care whether you or anyone else in your cadre of bandits is or not. If you don't like my analysis, put me on ignore. Henceforth, you can scream, wheeze, hack, shout, cry, stomp your feet, call me names...whatever. I will not be responding.
Good day and good luck with your investments.
Later,
W2P
How Do You Suppose They're Gonna Do This:
From the Consolidated Statement of Operations:
Total stockholders' deficit is (3,148,830)
According to the TWST Article, the company projects Stockholder's Equity to grow to $160,000 in 2004, $700,000 in 2005, and $12,000,000 in 2006. To go from a deficit of ($3,148,830) to equity of $160,000 in a year will require a $3,300,000 turnaround. They must be projecting healthy increases in revenues.
Of course, based on the figure Tony gave TWST for cash of $200K versus actual of $401K, and revenues of $150K versus actual of $255K, I would surmise that he used very conservative numbers in his interview.
Later,
W2P
spock...Get a grip, you're white as a ghost! lol Amazing isn't it? All those losses and still their bank account now shows $401,000, up from what $30K? I think it's magic...lol
Looks to me like the ducks are in a row...
Later,
W2P
Sorry computer acted up and sent it before I finished.
Anyway, $255K actual this quarter. Makes me wonder about how understated some of the other items were in that interview.
Later,
W2P
ice1051...If they turn us into a drug company with a late stage pipeline, that will seem small compensation.
Do you suppose Luchese was concerned about losing money and the management shares when he put $160K into the company?
IMO, we haven't seen the good stuff yet, but we do have a company with $400K in the bank and rapidly increasing revenues. Quite an improvement in my eyes.
I would also point out that as opposed to the first quarter results which were disappointing on the heels of a PR that stated $215K in revs versus $75K actual, this time Tony low balled the Wall Street Journal. In the article he said they try to keep $200K in the bank - actual $401K. He said $150K in revs - actual $255
bluedodge51...Agree completely. I am very satisfied with current developments. Leaves me yearning for more!
Later,
W2P
bag8ger...I didn't say that something hadn't been met, only that they weren't going to award on the basis of the performance measures in the agreement. I think we'll see soon enough what the basis is for the award, but that is JMO.
Later,
W2P
bag8ger...The only requirement was the licensing of one of the company's classifiers. This is just MO, but I take the language, and the issuance of the shares to mean that due to a change in the business plan they are not planning on licensing individual classifiers as first envisioned.
My current guess, based on what was in the TWST article, is that they will acquire a drug pipeline and offer the tests as part of the prescription process. Their ability to predetermine efficacy and adverse events will enhance the value of the drugs they offer, and will make them the supplier of choice. i.e., do you want to be experimented on at your expense, or would you like to know before you spend your money that what you will be putting into your system will both work as intended and do you no harm.
Later,
W2P
Sorry, I see they satisfied a portion of that in July. But anitcipate being able to repay the remaining $125K on 12/31/03.
Later,
W2P