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mingwan0...Observations??? LOL Excellent additions. Thorough as usual. Very bold set of predictions at the end. Thanks for your input and thoughts.
Later,
W2P
GoldEagle...Not a problem. I tried last night to post the one about the example project and Gabriel and the boys joining Semaphore. I'm guessing it was too big for RB to handle.
And just for the record, I don't really have the time for the DD either! At least that's what my wife keeps telling me. lol
Have a great evening,
W2P
Arch...Nothing quite like being there first hand and getting it straight from the horses mouth. Thanks for sharing those comments. (I think the plan is coming together...lol)
Later,
W2P
Joye1/66fan/Gcbr...Speaking of seriousguy, he fits into this as well. It was last November and December that he was CERTAIN that a deal had been done. He finally became a little frustrated, saying he didn't understand the DNAP PR department.
Well, and Arch, your post fits into this as well. One of the problems with DNAP's science is that it is not ON the cutting edge, it IS the cutting edge. Yet, in order for a significant deal to be consummated, the parties to the deal/deals, even DNAP, would need some assurance that what they are buying is verifiable and validated. It would also be in the best interests of both sides to have an independent party investigate the product(s) market potential to establish the value of the property under discussion, assuming it validated.
That's why I find it significant that the three musketeers, Gabriel, Gomez, and Bookbinder, all three Managing Partners in Genbiomics, find themselves in the Bio/Pharma validation arm of Semaphore in November 2002. The next thing you know, wham, they are deeply involved in the inner workings of DNAP, and seem to be transforming the organization.
I thought that sample project from Semaphore's website was very instructive. A company with patents pending and provisional patents who needs an independent party to verify and validate the science prior to the "event". Sounded alot like what would need to happen here in order to complete a deal.
The other thing I find very curious, and I know there are those that are all worked up about funding over on the main board, but they have NOT sold shares during the big run here. They certainly have the shares, and the price is such that they could get pretty significant funding using relatively few shares, yet they have not chosen that route.
The stated purpose of the contract they signed with Genbiomics was to source capital for the company. That deal was to have run until 12/31/2005 but has been cancelled. For a company that is supposedly "desperately" in need of capital, as some would suggest, they seem to have let go of a couple of good opportunities.
Of course, it's all speculation at this point, but it's damned interesting speculation. And I personally think we are getting pretty close to finding out what's really up at DNAP.
One last thing, I tried several times to get my original post with the example deal and the Semaphore PR to post over on the main board last night...nothing doing...oh well LOL
Later,
W2P
66fan...One other thing, the Orchid CEO mentioning the fact that very soon they will be able to tell eye color from DNA for forensics applications. Happened at the June Orchid Shareholders meeting.
Later,
W2P
66fan...Pretty cool, isn't it. Now, consider that that news is from November 2002. This was a fairly recent event, and was around the time things started happening such as the IBM Life Sciences invitation only event, the Board meeting in early December where the decision was made to seek additional share authorization, Gabriel coming on as a member of the BOD, Hector being named Chairman of the Board, and then Gabriel announced as CEO.
SOMETHING changed along the way. For instance, the Genbiomics agreement (of which Gabriel, Gomez, and Bookbinder are the three partners) was signed in May 2002, and was to run till December 31, 2005. That has since been cancelled. This from the 2002 10K:
In May 2002, we engaged a company in which our current CEO, and another one of our directors have ownership interests to provide consulting services to us through December 31, 2005. The services had an estimated value of approximately $110,000; approximately $15,000 of which were to be paid in cash and the remainder satisfied via the issuance of approximately 800,000 options to purchase our common stock at a price of $0.001 per share. During the year ended December 31, 2002, we recorded expenses of approximately $41,275 under this arrangement. Approximately $5,775 of this amount was paid in cash and the remainder is included in accounts payable and other liabilities in the accompanying consolidated balance sheet (which we anticipate satisfying through the issuance of approximately 1,013,600 options as discussed above). No services have been performed under this agreement in 2003 and the agreement was canceled in April 2003.
Of course, in April 2003, Gabriel was instead named CEO and Hector became Chairman and President.
Also in the background, Tony's 30,000,000 Performance Share Agreement was revised in favor of ???????. Well we don't know yet in favor of what, only that the 30,000,000 share bonus is being changed:
In addition to the above, we have an agreement to award 30,000,000 shares of our common stock to our Chief Science Officer when certain performance measures are met. At December 31, 2002 these performance measures have not yet been met, and as such the shares have not yet been issued. Furthermore because it is not probable at this time that the shares will be issued, no stock based compensation has been recorded as a result of this agreement in the accompanying consolidated financial statements. The agreement contains a change of control clause whereby these shares will be immediately vested and non-forfeitable if the agreement is not assumed or substituted at the time of such change. Subsequent to year end, our board of directors has resolved to revise the performance measures, however the terms of such revision have not yet been finalized.
Now we have the apparent "transition" going on, and the upgrade to IR/PR. I just find the whole situation interesting to say the least.
Later,
W2P
Hope this or a similar scenario is what is going on at DNAP:
How to Spend $20,000 and Return $150 Million
SERVICE:
Business Advisory Consulting
CLIENT:
CEO and Board of Directors, venture backed
start-up
REQUIREMENT:
Technology License preparation and valuation
SITUATION:
A well-regarded VC firm had invested over $20 million in a technology start up that was producing $5 million in annual revenue. The Client entered into substantive licensing arrangement negotiations with an array of companies and discovered it needed additional expertise. Semaphore was to provide visibility into, and preparation for, these critically immediate efforts in order to better assure that the Client received fair value for its asset technology during such negotiations. Semaphore was to collaboratively present and review options and provide context and validation to support the utilization of one time technology license, site license, NRE charges with royalty payments, OEM relationship, etc. Semaphore was charged with delivering a number of potential options.
SCOPE:
Staffing: six person days.
Deliverable: Semaphore's counsel and review to culminate in an agreed action plan for the imminent negotiations.
DISCOVERY:
Semaphore Technology Diligence (S4TD) created a preliminary valuation position paper on the Client's technology. The review included several patents pending and provisional patents (with associated development cost) to deliver the product's IP. The position paper represented a fair analysis of the product and sunk cost. S4TD strongly recommended that the Client perform formal technology and business diligence to derive a completed package of relevant corporate documents including an assessment of the viability and value of the company and its assets. Targeted strategic channels would not consummate a contractual relationship without completing such diligence. It was the opinion of S4TD that this effort would create a significant internal asset during negotiation with the target partners.
S4TD recognized that as management pursued multiple sales channel/joint venture negotiations on a parallel basis they would require outside business counsel to provide tactical advisory services. S4TD established the rationale for and benefit to the respective sales channel targets including valuation ranges according to each of the interests and needs of various markets and channels.
OUTCOME:
1. S4TD recommended that the sales channel negotiation include an invitation for acquisition.
2. The Client's board and management received independent valuation and business insight in order to properly enter critical sales channel negotiation.
3. S4TD provided briefing and option papers, including decision tree outlines, for each channel target and potential acquisition discussion.
4. Client received competing offers for purchase as a result of tactical implementation of strategic plans provided.
5. Client closed on a $150 million acquisition providing for significant return to investors.
At least the players seem to be the right ones:
Semaphore Dedicates Life Sciences Diligence Practice
Firm emphasizes and expands Technology and Sciences diligence to Bio/Pharma markets.
(Boston- London- Zurich) Sema4, Inc. (Semaphore) announces the expansion of its Technology Diligence practice. Stating that Semaphore clients are experiencing greater activity in the Life Sciences markets, Semaphore CEO Mark S. DiSalvo states “We thought it appropriate to greater emphasize the skills and resources we have to provide assurance and Independent Verification and Validation in the Life Sciences and Bio/Pharma markets, especially since our clients are asking us to perform this level of assurance.”
This dedicated Life Sciences business practice was created to provide visibility and clarity to the decision-making process. “It facilitates informed judgments on risk and opportunity. The Life Sciences are often subject to misunderstanding, misapplication and misrepresentation,” said DiSalvo. DiSalvo explained that this confusion has a deleterious effect on productivity in even the most business savvy environments. Semaphore research has discovered that when Technology Diligence is applied prior to, or in concert with, a funding event it provides appropriate and necessary discipline to the judgment process. The result allows for increased confidence in the decision contemplated and executed. Research confirms that Bio/Pharma projects such as drug development are nearly always over budget, behind schedule, or are abandoned completely. Facts are that the FDA approves less than 2% of the drug pipeline. Those that do receive approval often are not commercially successful. Semaphore services in this space include Clinical Trial review, FDA compliance and certification process monitoring, proof of science concept, and acquisition target validation.
The firm has significantly expanded its resources globally in the Life Sciences space. Richard Gabriel former CEO of Calix Corporation is the point person for the firm as head of Life Sciences diligence services practice. “I am delighted to join the quality team represented by Semaphore. Its skills providing real-world diligence from Emerging Technologies to Enterprise Software to Life Sciences are legendary,” he added. His team includes: Hector Gomez, MD, Ph.D, former CEO of Transcend Therapeutics, Inc. and Lonnie Bookbinder, Ph.D, an experienced large Pharma executive. “The strength of this dedicated team will offer our clients the clearest direction and best assurance of success possible. We bring hard science and business savvy to the table every day,” Gabriel added.
About Semaphore Services:
Semaphore provides Technology Diligence, Project Assurance and Business Advisory services in areas from Enterprise Software to Life Sciences for Corporations, Boards of Directors, and Private Equity, VC, Law firms and Investment Banks. Semaphore is a 14-year consultancy providing skilled real-world practitioner Technology Diligence, Project Assurance and Business Advisory services. Among its offerings are warranted Technology Diligence to the funding community, Independent Verification and Validation for ongoing projects, asset valuation, licensing evaluation and marketing and sales analysis. Clients include: Travelers Insurance, Shared Medical Systems, Fleet Bank, Sandia National Labs, Vertex Pharmaceutical, The Federal Reserve System, Zurich Allied, Alta Communications, M/C Venture Partners, IDX, and the National Security Agency.
Later,
W2P
Just to clarify. I meant, I hope these were part of the escrowed shares. Not that I think the escrowed shares have all been purchased and issued. But at least if these were escrowed shares, we would be better than half done with the 19+ million sitting in escrow and have close to $500,000 in DNAP's company coffers.
Later,
W2P
Personally, I think the pop started when these ran out:
Filer Relation File Date Shares
TAMPA BAY FINANCIAL ... N 7/7/2003 4,763,662
http://www.nasdaq.com/asp/holdings.asp?mode=&kind=&symbol=AIPN&symbol=DNAP&symbol=&a...
That's close to 10 million shares for TBF in the past 9 days. Hope they're out of the escrowed shares.
Later,
W2P
NYTimes Article:
http://www.cnn.com/2003/US/07/11/nyt.kristof/index.html
Check out the end of the article:
Genetic Bazaar
Anyone can get a DNA analysis to try to shed light on genetic origins, but for now don't expect to be pegged too precisely. Bryan Sykes of Oxford University founded a company that offers analyses based on the rubric in his book "The Seven Daughters of Eve," and more information is available at www.Oxfordancestors.com. That's the company I used. An alternative is an American company offering DNA analyses with a genealogy focus, www.familytreedna.com.
More free advertising...You gotta love it.
Later,
W2P
packratjim...E-Mail Address:
mrblruge@yahoo.com
Thanks,
W2P
Interesting: British Ancestry on TV this summer
Free DNA test for fans going to Newcastle game
by Rupe on 4/2/03 at 16:12 this is story 479 of 489 in this topic to date
One of the weirder requests we've received at Arseweb....
Gooners travelling to the Newcastle game at the weekend are invited to apply for a free DNA test. Here's the deal:
Outline Productions have been commissioned by the Discovery Channel to produce a major new documentary series presented by comedian Eddie Izzard, which examines the historical origins of English national identity. The series celebrates the fact that 'The English' draw on a two millennia-old melting pot of cultures, peoples and ideas in order to define who they are....
http://www.arseweb.org/www/newsreel/t8i479.html
Who are we?
Izzard show to probe British identity
Eddie Izzard is to host a TV series about the English national identity.
The series has been commissioned by the Discovery Channel for broadcast in the summer.
Tom Adams, of Outline Productions, told Newcastle's Sunday Sun: "The series looks at the fact that the English draw on a 2,000-year-old melting pot of cultures. Four groups of invaders - Romans, Normans, Anglo Saxons and Vikings - left a cultural identity.
One of the programmes will examine the clash of north versus south - at a Newcastle vs Arsenal football match.
Adams said: "We will look at the effect of Viking ancestry on [the Toon Army] behaviour, and see if their is any truth in the stereotypes like Northerners being hardier and friendlier."
Izzard is known for his interest in cultural identity, especially in how it relates to a single Europe.
January 26, 2003
http://www.chortle.co.uk/news/jan03/izzard.html
Later,
W2P
stockboy/meched...Thought I'd mention before you go too much further. When I first started lurking on stock message boards, I had come to iHub and registered with the alias "manowar". I never posted under that alias, and later settled on worktoplay when I decided to stop lurking and begin posting.
Anyway, when I came here the other day, I was still in the system as manowar. I simply e-mailed iHub, explained the situation, and asked that they change my manowar alias to worktoplay. Within an hour, I got a reply that they had made the change. They also changed the only post I had made here (a couple of days ago a "test" post) to the correct alias.
If you want to be meched, you probably can be.
Later,
W2P
What do you make of this? Comments anyone?
1:23:22 PM Trade 0.0325 700000
Later,
W2P
66fan...I did yesterday. I e-mailed the contact and got a copy of the Conference Brochure. Some very interesting abstracts including one by our friends at Foley & Lardner, who are sponsoring today's VC event in Tampa.
It's on its way to you.
Later,
W2P
bag7ger...It appears that you have lost one of your marbles! LOL Didn't there used to be "8"?
Yes, this is a VERY refreshing change of pace. Glad to see all of you over here. I'm looking forward to some very interesting, yet civil, discussions. And I would add, I believe that this atmosphere will promote a much more frank and even discussion of ALL aspects of the company.
Over at RB, I admittedly have tempered my involvement in exchanges that concerned areas for improvement at DNAP, knowing that it might only feed the flames of those intent on torching the company. I believe this forum offers the opportunity to maintain a balanced view of DNAP and I look forward to participating in that sort of dialog.
Have a great evening,
W2P
OT--Sure, don't break anything vital! LOL Have fun.
Later,
W2P
Hi guys and gals,
Just came to check out the iHub board. Sounds like some interesting discussion this evening concerning the apparent "transition" at DNAP. I see alot of familiar faces here, and most importantly, I DON'T see alot of familiar faces. LOL Hope to be spending more time here in the future.
Later,
W2P
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