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I agree with your evaluation of a college degree. We were simply talking about the availability of an acceptable replacement for LW. Some on the board think LW's irreplacable and worth the 100k+ salary/+stock ...others think it would be fairly easy to find someone more qualified who could sell CYGX's stock, and possibly do more, to finance the company.
Your original question was "arnold tell me who can replace lw for a little over 100,000 a year"... not what corporate CFO would work for that amount....I think his answer was quite accurate. Just as a comparison, high school teachers in the Houston suburbs with a doctorate and 25 years experience are getting 50k so there are probably people that are more experienced and or knowledgable that would be available.
Please correct me if i'm wrong but I believe IP rights came into play with Bunker Hunt and of course the animal applications with AVGI's (Waldroff)investment.
Our time is always near!.....
They are always doing something at CYGX. Seems like I remember test kits being sent out, for a fee, in '98 or '99. I think that promted Peter Glazer's involvment with the company. I don't recall ever seeing any income on the 10k for the kits though. I wonder if CYGX is paying to have these companies use their technology? Glad that they are keeping busy....
"AVGI stays current by hiring the best and the brightest, with the facilities to match, to do the work they pay for."
Sorry... but I was refering to AVGI hiring CYGX and the claims, on the board, about how smart CYGX is and how fabulous their lab is and it just simply may follow that if AVGI has hired them they will hire others who are just as good at what they do....why do you think AVGI will squander their investment and why do you think they can't hire people to do what is needed just as CYGX has done? I believe CYGX's first lab was Dr. Conrad's in St. Louis or some such place....a very long way from their apartment office.
AVGI stays current by hiring the best and the brightest, with the facilities to match, to do the work they pay for. That is why CYGX recieved a check (at that time all of CYGX's work was being done by outside labs). And that is why there are many of us who can't understand CYGX's reluctance to perform.
I don't believe there was much angst in the CYGX apartment room when they accepted Waldroff's check. By the act of accepting the check they made certain promises to perform. Why should your concern now rest on AVGI's performance? Reverse engineering is always a potential problem when a product is in the marketplace that's where Skolnick's expertise in patent law should bode well. I have much more confidence in Skolnick's academic, expert witness and patent lawyering skills than as a CEO.
This has probably been talked about in this group but I can't find it. If it has could someone please point it out to me? Aren't there accounting or tax issues in posting small, or insignificant, revenue amounts for a public corporation - terrible increase in paperwork, documentation etc.? And also isn't a pending patent better than an issued patent because the clock does not start on the life of the patent until issued and yet you, in effect, have staked out a specific technology. CYGX's strategy may be to continuously adjust the patent, keeping a patent pending, until some interest is shown by a company and or industry and then appling for issuance. All their pending patents may be simply waiting for the right circumstances to issue and start the clock.
William B. Waldroff obviously has more than a casual interest in AVGI, and has been very vocal in the litigation. Sorry, I don't know any of the bookkeeping specifics. AVGI is spending money in litigation with CYGX instead of marketing a product or service and giving CYGX revenue. Does that make sense to you? Mr. Waldroff seems perfectly able to protect his interests and IP compared to Mr. Skolnick.
It appears that AVGI is a group of guys who pay for expertise and expect that after their check is cashed some performance is expected. We do know AVGI has a checking account.....
You forgot....Our time is near.
You must be new to this board....you stated that "alot of people bought this stock on the open market in the single numbers" I thought it was only only fair to remind the readers that a number of individuals have made deals with the current management to buy stock for as low as .02. Instead of being able to sell a developed product on the open market - management deals in stock, of course to the current management stock has become a very lucrative product.
and alot of people, instead of being able to buy products produced by CYGX, have made deals with the management, to buy stock, in the .02 to .08 range to pay management's salaries....
He was my stock broker too. He has never made me any money...I only know of two that he has made money for...Skolnick and Wunderlich.
You would be hard pressed to find any of the original founders who own very much, if any, stock. Original stockholders are another matter, a few of them have done very well and remember who/what was the cause of their fortune.
Absolutely certifiable....
Looks like the CFO will have his hands full...glad he is experienced.
Speaking of odds...who exactly represents the house when "The valuation is based on a Monte Carlo simulation of future expected net cash flows."
They already have one...unfortunately it is for horses....
Yeah...lets see...a fairly large investor believes so much in your technology that he is willing to jeopardize his investment by suing - to force you to expand your inventory and create products in a lucrative new market place. Sounds more like the start of a PR campaign to me.
The CEO was (is) a patent attorney. This is his first time as a CEO. This is on the job training with the CFO holding the purse strings...
the explaination should come from the CFO...
I believe it was the summer of 98...
it's always good to hope nice things will happen - in the future...
and they have what?...300K in the bank...somebody should think about funding this group.
He invented the original technique on which CYGX's ssDNA vector technology is based...
Sorry I thought we were talking about the last five years...and lets see...a public company that has no revenue and exists today because of pretty interesting science that Malcolm has been able to promote and funding that the CFO has procured that can only be described as the "kindness of strangers"...and Winston was a spendthrift would have made a terrible CFO...
Your post is accurate on most of the information and I believe Malcolm has done a very good job with the resources his CFO has made available...but think what could have been accomplished with twice as much money or a CFO that could have made the company's case to his counterparts in the biotech, pharma, banking or brokerage community...he has been learning on the job...hopefully someone else is taking the initiative.
Just glad the CFO is being mentioned less and less. Perhaps the COO is taking up the slack...
Tell it to Dr. Skolnick yourself... the ph. number is (713) 789-0070
My inquiry was about just such a high-price, high-volume day and the idea that a group that obtained stock at a fairly low price would be very happy indeed to sell at a high-price and feel very little remorse in not allowing the price to go higher or to the next level...the natural momentum in the stock could be easily stunted by a large investor trying to liquidate his position each time the stock reaches a certain range...
doesn't the Hunt payoff take them off the insider list and allow them, with some minor redistribution, to freely sell the fairly substantial amount of stock they must currently hold?
relax...the CFO knows what he's doing, he's a hi skool grad-yu-ate...
What did the representatives from Phanuel have to say? With billions at stake there were probably a number of reps and some interesting exchanges...
I hope you are right and they do have a plan and are not just out of inventory.
I hope also that Mr. Wunderlich can use today to learn a little more about how not to ramp into a stockholders meeting. I hope that our CFO appreciates his shareholder funded education.
I hope that management will, after more than five years under Dr. Skolnick's direction, decide to sell products or opportunities related to products and not the company, in the form of stock, to create needed revenue.
The management of CYGX is creating a lot of hope....
Look...I'm not questioning the management's good intentions. As you said we all make decisions and choices about our lives.. but these folks are making decisions about my investment. Granted its not a gigantic amount but it's mine.
As for compensation, according to my shareholders information, Dr. Skolnick has received $120,000 for the past three years and he has done such a great job that he's getting a raise of $24,000 a year for the next five years on his new employment contract signed last August. That brings him to an annual salary for the next five years of $144,000 per year not including bonuses, stock options and additional stock. Are they paying him in cash or stock or some combination of the two, I don't know. The stockholder's guide says that he has a salary of $120,000 per year and that last year he received 208,426 shares of retricted stock. Now lets say that his restricted stock actually has a value, say 33% of the current market value. That means that, this year, he received the equivalent of $170,209.82. He's not getting rich but he is getting much more than "almost nothing to this point." Mr. Wunderlich and Mr. Vazquez are probably not far behind in their compensation packages...
These men have been given a gift..stockholders.. stockholders who believe in the technology that these men have asked to be responsible for. And, believe it or not, a shareholders meeting is an excellent place for a job performance review.
Not a basher..a long term frustrated holder..who got his stockholder package...and read it. Instead of answering questions, or clarifying issues, it created many more questions.
I submitted the post as a long time owner of CYGX stock, occasional follower of IHUB and RB, and fan of the technology. I would appreciate any help in aleviating my concerns. I would welcome any information that would explain why my concerns are unfounded.
I think this stock should have been $20 stock years ago...why is it at $.72 today? Perhaps the reasons are simply more basic than thinking the technology is too complicated for the marketplace to understand. Perhaps the management simply does not have the background, experience and needed expertise to do the job at this level. Don't get me wrong, the idea of an academic hiring other academics is understandable, I'm sure they are all quick studies...but negotiating the complicated business labyrinth, of a public company, at this level should not be a learning experience.
Why would I bring this up now?...Because I got a stockholders meeting notice and a 10k from 2002 in the mail.. oh, and a proxy statement that Lawrence wanted me to return as soon as possible...and I started reading...
Well...there has to be a reason the management needs more stock or they wouldn't ask for it, but that hasn't stopped them in the past.
What is the business experience of the current management? They seem to perform well in academic circles.
Frank Vazquez is the only one who claims to have been responsible for a payroll prior to joining the group, but in reviewing the S8's for Lark Technologies he is only listed as a director, not the President/CEO from 89-99 that is claimed in his biographical information supplied by CYGX.
Of the whole group we should be most concerned with the CFO, a CFO who might have finished high school ( I don't know what academic prerequisites are required to "take a class" at the University of Vienna ). This CFO, who's only previous stock experience was as a "financial consultant" at Josephthal, is responsible for creating a sound financial base for this company. Disregarding the extra 100m stock issuing problem. What grade would you give him - does his experience and ability give CYGX shareholders confidence? Better yet, what confidence does he inspire in business associates and partners?
Well..at least we have an outstanding CEO. His resume is terrific. He has business experience - five years worth. The stock price which, we all agree, should be higher than it is has barely broken the dollar mark during his tenure even with, what to me are, sensational news releases at least twice a month. He has consistantly failed to follow through. Perhaps at age 69 he will be retiring soon, I'm sure if he does, he will be able to put that newly approved and about to be issued stock to good use.
I believe The Technology is fabulous. I think The Technology is languishing because there are no Business Men in management. This company's management team was not selected on the basis of their business success. The management is made up of men who were selected because of their resumes, or in one case in spite of it, who looked around for something to sell and the only thing they found (and the easiest to sell) was The Company's Stock.
Some very serious questions need to be asked...
Well...there has to be a reason the management needs more stock or they wouldn't ask for it, but that hasn't stopped them in the past.
What is the business experience of the current management? They perform well in academic circles. Frank Vazquez is the only one who claims to have been respnsible for a payroll prior to joining the group, but in reviewing the S8's for Lark Technologies he is only listed as a director, not the President/CEO from 89-99 that is claimed in his biographical information supplied by CYGX.
Of the whole group we should be most concerned with the CFO, a CFO who might have finished high school ( I don't know what academic prerequisites are required to "take a class" at the University of Vienna ). This CFO who's only previous experience was as a "financial consultant" at Josephthal is respnsible for creating the financial base for this company. Disregarding the extra 100m stock issuing problem. What grade would you give him - does his experience and ability give CYGX shareholders confidence? Better yet, what confidence does he inspire in business associates and partners?
Well..at least we have an outstanding CEO. His resume is terrific. He has business experience - five years worth. The stock price which, we all agree, should be higher than it is has barely broken the dollar mark during his tenure even with, what to me are, sensational news releases at least twice a month. Perhaps at age 69 he will be retiring soon, I'm sure if he does, he will be able to put that newly approved and about to be issued stock to good use.
I believe The Technology is fabulous. I think The Technology is languishing because there are no business men in management. These are men who were selected because of their resumes, or in one case in spite of it, who looked around for something to sell and the only thing they found (and the easiest to sell) was The Company's Stock.
Some very serious questions need to be asked...