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The company will continue to exist at least
China is the big question now. And are there any significant revenues building ? Whatever they do they need to sell these tests.
The new partners can be also instrumental in marketing, sales and distribution. And these are new people who believe in this little company.
Dendreon shares halted for FDA meeting
Calypte Raises $5.2 Million in Private Placement
Thursday March 29, 8:53 am ET
$9.2 Million of Secured Debt Restructured to 2009
LAKE OSWEGO, Ore., March 29 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (OTC Bulletin Board: CBMC - News), medical diagnostic tests manufacturer for the rapid detection of antibodies to the human immunodeficiency virus (HIV) today announced that it has entered into Subscription Agreements with four accredited investors who purchased $5.2 million of Calypte's common stock in a private placement transaction. Under the terms of the Subscription Agreements, the Company issued 100 million shares of its common stock at $0.052 per share and 150 million warrants exercisable over the next 18 months. The investors are from Geneva, Switzerland and Dubai, United Arab Emirates. The proceeds of the transaction are expected to be used primarily for general working capital purposes and related investments.
The investor group is led by Mr. David Khidasheli, Chairman and Chief Technology Architect of Informap Production LLC (http://www.informap.com). Informap employs over 800 people worldwide, with offices in Geneva, Dubai, New Delhi, Moscow, Paris, London, New York, Singapore and Beijing.
In conjunction with the closing of this PIPE, Calypte extended the maturity of its 8% Secured Convertible Notes and its 7% Promissory Notes issued under the 2005 Credit Facility with Marr Technologies BV (Marr), aggregating approximately $9.2 million, from April 3, 2007 to April 3, 2009.
Roger Gale, Calypte's Chairman and Chief Executive Officer commented, "We are delighted to welcome such a strong and established group of strategic investors. The group was introduced to the Company by Marr, our largest stockholder. Following this financing, Marr owns over 19% of our outstanding common stock. Mr. Khidasheli and his co-investors have built an extensive network of important contacts in many of our target markets, including India, Russia, Thailand, French-speaking Africa, the Middle East and China. We believe these contacts and resources will complement our own. We expect to leverage these relationships with the financial support provided by this arrangement. In addition to this initial $5 million investment, the financing also includes an intermediate package of warrants that can be a source of up to $13.5 million in additional funding over the next 18 months. We believe we are poised to take advantage of market opportunities, fulfilling important humanitarian needs starting with our non-invasive diagnostic test that serves as a first step in the fight against HIV/AIDS.
Mr. Gale went on to say, "We believe that the restructuring of our balance sheet -- both the debt and the equity -- totally changes the capabilities of our company. With our oral fluid test validated in the scientific community and our intellectual property position in place to both expand our product offerings beyond HIV/AIDS and enter the U.S., we believe that this heralds a major leap forward and breakthrough in our ability to realize the potential within Calypte."
Marat Safin, President of the Marr Group said, "I am more confident than ever before of the world's demand for Calypte's current products and more importantly, its future products. In my opinion, the Company's research and development plans will position it as the front runner and pioneer of technological innovation, using its new test platform across a wide range of other applications."
Mr. Safin continued, "I have known David Khidasheli for many years and I am confident in his ability to launch products, develop markets and raise awareness. David has the dedication and qualities necessary to achieve goals that will in my opinion add value to the Company and help the Company build the business. On behalf of Calypte's stockholders we welcome the new strategic investors in the fight against HIV and AIDS."
David Khidasheli, representing the investor group commented, "I have watched Calypte over the past several years following Marr's investment in the Company in 2003. The Company's humanitarian focus interested me from the beginning. With the Company's Aware(TM) HIV-1/2 rapid oral fluid (OMT) tests beginning to sell, we believe it is the right time to bring our combined networks' resources to this business. I envision a combination of government and private sector-led programs involving sales while also taking advantage of local manufacturing and R&D opportunities. I expect to be able to support Calypte's increased visibility and presence in those countries in which I have worked for many years."
Mr. Khidasheli continued, "The Company and I have discussed a short- and medium-term plan including a worldwide focus utilizing the combined contacts and resources of our organizations wherever possible. Asia is at the top of this list and is at an ideal stage for our involvement."
Calypte management will host a conference call on Thursday, April 5, 2007 at 4:30 PM Eastern Time to discuss the Company's fourth quarter and year-end financial results as well as provide an operations update. Detail call-in information will be released next week.
Today could be a good day to buy SPBU ?!
next leg up ?
DNDN I personally believe that the outcome is rather negative than positive so I agree with you but I don't risk it
DNDN not FDA approval actually
but it will either double or get cut to the half on Friday, no way to know which direction
DNDN is pure gambling
(with shorts involved)
SPBU shows some life again today
Hi MF03, bought today at 0.0013
Good luck
Cal
Weekly Pick SUWN
utcheevis -> SUWN
for the record:
On March 23, 2007, the Company completed the sale of $4,121,250 financing of units of its securities consisting of 9,812,500 shares of common stock at $0.42 per share and common stock purchase warrants to purchase 9,812,500 shares of common stock. The warrants are exercisable at $0.65 per share and are for a term of five years.
The purchasers of the units are certain accredited institutional and individual investors. The exercise of the warrants is subject to a 4.99% cap on the beneficial ownership that each purchaser may have at any point in time while the securities are outstanding. The net proceeds from the transaction will be used for working capital purposes
...
SPBU: decided to hold it a bit longer
I like that there have been no distribution this week. CMF also continues to be strong.
I speculate on another rise next week.
BANY I sold too
ARCA on the bid now
lunch time should be over by now
Me too
Nice blocks going over
I reached the green at 0.0017
Sold the position I grabbed today when the run started but still holding a larger position for weeks now.
So whatever happens today, I have made a profit already.
BANY: will it run past 0.0016 ?
BANY Alert !
TRNP news out
You guys still holding SPBU ?
Thanks, CBAY seems to gap up today
Premarket 0.024/0.025
MOGN with very good news on PIII trial
MGI PHARMA Announces Positive Results from a Pivotal Phase 3 Study of Aquavan(R) Injection in Patients Undergoing Bronchoscopy
Tuesday March 20, 7:01 am ET
Primary and Secondary Endpoints Achieved
Open Label Safety Study in Minor Surgeries Successfully Completed
NDA Submission Remains on Track for 3Q07
MINNEAPOLIS--(BUSINESS WIRE)--MGI PHARMA, INC. (NASDAQ: MOGN - News), a biopharmaceutical company focused in oncology and acute care, today announced that a randomized, double-blind, multi-center, pivotal phase 3 trial of Aquavan® (fospropofol disodium) Injection for sedation of patients undergoing bronchoscopy successfully met its primary endpoint of sedation success as well as all secondary endpoints. Among patients who received an initial bolus dose of 6.5 mg/kg of Aquavan, the sedation success rate was 88.7% compared to 27.5% of patients in the control arm (p less than 0.001). Results of this trial also indicate that the safety profile of the 6.5 mg/kg dose of Aquavan was predictable and similar to the safety profile of the control.
...
SPBU: Looks like ARCA trying to hold it down
SPBU seems to be in the stage I sold ZROS last week. I will wait a bit longer this time
CBAY is doing very well today.
bought CBAY at 0.0120
LDTI, a bit too early for me
CBAY, I like Accum/Dist and CMF, looks like recovery, though I haven't jumped in yet. More volume would be nice, otherwise could be another setup. Still feel that pain.
CBAY starts to look tempting again
bought some SPBU at 1.10$
Tsafi, SPBU a buy today?
Interesting
ARCA leads the bid with 99K (0.0015) this morning.
Fake order or will this be the day ?
SUWN utcheevis,
I "discovered" SUWN just a couple of hours before picking it as my "weekly". I have no position in it, never had.
From my first quick assessment it looks good I haven't found a black spot yet. I like CMF, Accu/Dist especially. Could be a sleeper, sales progress is important, consider buying some for holding it for a while, business sounds decent at first sight but I'm a rookie so don't give too much credit on my opinion.
More (good) info:
http://www.jmdutton.com/research/SUWN/index.html
Happy trading
Cal
Weekly pick -> SUWN
Sales figures just around the corner
1700 shares at 0.0013 = 2$ and 21 cents
who believes this crap.
-> manipulation
scorp,
this is a great board to learn and watch others trading.
I especially appreciate that the usual pumpers, bashers and mentally damaged persons are not appearing here and ruining the exchange of thoughts.
Hope it stays this way. Keep going Tsafi !
Cal
These guys are really amazing scorp
still learning this game and glad to follow this board
whatever the stocks are doing this is really fun
Good luck
Cal
I sold today for a loss,
I have to change my ID, what a shame
ZROS
Actually I sold early this morning (with a loss) which almost guarantees that it will cross 1$ today. Seems that virtually all trades occur at the ask today.
I thought the PR would lift this shortly above 0.95$ only at the opening before it starts to run towards 0.9$. I think this can go either way today.
Good luck with ZROS.
ZROS Amazing buying pressure