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I only noticed one grammatical. Status quo is missing a t but I am not an English major by any means. The editorial portion of the article seems a bit harsh, but it is probably justified. It's hard to pick it off as there are so many moving parts.
While the I believe the equity markets are getting ahead of themselves, I don't think the second dip will be as bad because of the somewhat improving(less than terrible)indicators. It looks like to me that the Obama administration is trying to paint a picture of recovery just long enough for the actual recovery to take place. Now we have to see how much production numbers improve going forward and how controlled the CPI remains.
Do you plan on submitting articles on a regular and no photo?
Tiger, I noticed your article on www.thesmallcapinvestor.com. Good article, as far as your stance on recovery of the equity market, I too believe we will see a W recovery and the V will not last. I believe that puts 2 CYRX Ihubbers on the front page. If Todd Miller posts then that would make 3!
Well we can generate revenues through clerical errors and adoption of change in accounting classifications but not yet through actual business. LOL.
Encouraging 8K. Not too much different but it is nice to see income, regardless if it is due to adjustments. Costs seem to have been minimized over the last couple months and encouraging verbiage regarding potential future (very similar to the 10K).
A million on hand as of August 10th! We move on and stay alive once again and continue our quest to take over this inefficient temperature sensitive shipping industry.
As always GLTA!
In a sick way I have to agree that the container is least important at this point in time...Of course where would we be without this container. This board would not exist.
I have reiterated this over and over but from the start of his tenure, I have been very excited to be investing with Larry Stambaugh, he has vision and extensive experience. Based on his track record, I like our odds of success and the shear magnitude of our potential success.
Cryo could you school the board and illustrate the factors that have revived your extremely bullish sentiment?
Chudd, I email Trey from time to time because I follow his website. He has only done a note(a brief report on Cryo)lately and I believe it is regarding who, in his opinion, Cryo is working on with respect to a customer. If you look at what he was saying about management the entire time through his postings and reports, it was spot on with changes that have occured within the company. I believe he is working hard on his website and a message board is supposed to be up on www.thesmallcapinvestor.com soon.
It would be great if he could post something on the board with his thoughts but I'm not holding my breath.
GLTA
This is a brief email respone I recieved from Stuart Fine regarding the conference.
"I'm pretty sure its free for investors to attend the meeting. Typically each company will have 30 minutes to present and then have an opportunity for a breakout session following their presentation. I would assume that this will be webcast as that fee was nominal. As for what transpires with Cryo during the time they aren't presenting, I guess that will be up to Rodman and Renshaw. I don't believe they have a "trade show" type set up. There are too many companies presenting too make that seem possible. I would venture that part of the reason for Cryo to be presenting is to get in front of institutions that could be investors."
Culdn't agree with you more as far as Enable and Roswell are concerned. Those financing deals are really haunting us now.
Cryo: I am probably not as seasoned as most are on this board but I have been holding past a year and half. I am also a youngin so I got time and am a sponge of sort with regards to business growth and cryo. I heard about Cryo through an emergent client and I believe he is a very smart guy. I have followed very closely but sometimes it is been frustrating to say the least trying to break down a company when there is not much to break down as far as current operations and ongoing business is concerned.
The business plan seems to be in place, the management seems to be in place, the connections, partners. I believe its ready to go.
Cryo been in since the beginning?
Me too Sage..and judging from the history of this board...if I don't...I know everyone attending is smart, well-informed, and will do great due diligence and relay information back. It can't come soon enough.
GLTA
It has a tentative schedule posted of presenters.
Cryoport:
09-09-2009
Fahnestock Salon(5th Floor) @ 3:40 p.m.
Cheers Sage!
I would love to make it to the conference and am trying to get time set aside time to attend. It is a bit of hike for me to make it to NYC but if things line up for me then I will try to contact board member's attending before hand to meet up. Regardless, the conference will be great, help put some intelligent eyes on this company and management. I would love to have some more in-depth face-to-face communication with CYRX and see investor reception to Stambaugh and company's presentation.
GLTA
Larry Stambaugh CEO of Cryoport
http://www.directorsforum.com/events/individual/pdf/stambaugh_larry_bio.pdf
Thanks BBF, you answered my question. You had mentioned a second conference call and I was asking if you had an update you could share. If Stambaugh is too busy to hold a second conference call that's okay with me.
They filed on the 14th the last three years, so my guess in the 14th. Yes, 3 weeks away is a long time but I am feeling very comfortable.
10 K 2009-06-29 NT
10 Q 2009-02-17
10 Q 2008-11-14
10 Q 2008-08-14
10 K 2008-06-30
10 Q 2008-02-14
10 Q 2007-11-14 NT
10 Q 2007-08-14
10 K 2007-06-29 NT
10 Q 2007-02-14
10 Q 2006-11-14
10 Q 2006-08-14
10 K 2006-06-28
10 Q 2006-02-13
10 Q 2005-11-14 NT
We should have a 10Q around August 14th. BBF, I suppose Stambaugh reiterated the same topics you relayed in your update during the follow up conference call?
RENTAL AGREEMENT
THIS RENTAL AGREEMENT (this “Agreement”) dated as of May 15, 2009 (the “Effective Date”), is entered into between CRYOPORT, INC., a Nevada corporation (“Lessor”), having a place of business at 20382 Barents Sea Circle, Lake Forest, California 92630, and FEDERAL EXPRESS CORPORATION, a Delaware corporation (“Lessee”), having a place of business at 3610 Hacks Cross Road, Memphis, Tennessee 38125, with respect to the following facts:
WHEREAS, Lessor has developed certain liquid nitrogen shipping vessels described more specifically in Schedule 1 hereto (each, a “Container”), and related services for the use and transport thereof (the “Related Services”).
WHEREAS, Lessee has entered into, or will enter into, one or more agreements to provide certain shipping services for one or more clinical research organizations, clinical research laboratories or similar testing facilities listed on Schedule 2, as amended from time to time by mutual written agreement of the parties hereto (each, a “Customer”), including without limitation to provide cold chain transportation of frozen clinical or biological research or diagnostic specimens from a Customer’s health care provider clients (each, a “Provider Client”) to such Customer.
WHEREAS, Lessee desires to provide cold chain transportation services between each Customer and its Provider Clients using Containers (“CryoPort Express”), and Lessor and Lessee desire to enter into this Agreement to facilitate such implementation of CryoPort Express on the terms and conditions hereof.
NOW, THEREFORE, in consideration of the foregoing and the mutual promises contained herein, the parties agree as follows:
1. Lease. On the terms and conditions of this Agreement, Lessor hereby leases to Lessee, and Lessee accepts for lease, such Containers as listed on any order placed by either a Customer or a Provider Client and accepted by Lessor in accordance with Section 2 (an “Order”), below, for the prices (“Fees”) stated on Schedule 2 hereto or as stated on the applicable Order Confirmation (defined below).
2. Lease Transactions. Each lease of a Container hereunder (each a “Lease Transaction”) shall take place as follows, and such policies and procedures as more specifically agreed in writing by the parties:
2.1 Each Customer or Provider Client that desires to use CryoPort Express shall place an Order either directly with Lessor, or with Lessee who in turn shall place such Order with Lessor, each in such manner and by such means as specified by Lessor.
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2.2 Lessor will use commercially reasonable efforts to accept or reject an Order as soon as possible and no later than 24 hours from receipt of the Order. Each Order that is accepted shall be evidenced by issuance of an Order confirmation (“Order Confirmation”). The Order Confirmation will confirm for each Lease Transaction the following: (a) the Lessor facility where the Container shall be picked-up to begin the Lease Transaction and delivered to end the Lease Transaction, (b) the name and shipping address of the applicable Provider Client, (c) the shipping address of the applicable Customer, (d) the number and type of leased Container(s), (e) the lease term, and (e) the applicable Fees. Acceptance or rejection of each Order will be communicated to the Provider Client or Customer placing the Order, and each Order Confirmation will be communicated to Lessee. Acceptance of any Order is subject to Container availability. The Provider Client or Customer placing the Order shall have the right to cancel a Lease Transaction four (4) days prior to the Commencement Date. For these purposes, “Commencement Date” means the date that the Lease term commences as indicated on the Order Confirmation. Lessor will make the Container(s) which are the subject of the Order available for pick-up by Lessee on the Commencement Date at the Lessor facility indicated on the Order Confirmation.
2.3 For each Lease Transaction, Lessee shall be responsible for delivering the applicable Container(s) from Lessor’s identified facility, to Provider Client’s shipping address, to Customer’s shipping address, and back to Lessor’s identified facility, each during the applicable Lease term, each as set forth on the applicable Order Confirmation.
2.4 For each Lease Transaction, unless Lessor otherwise expressly agrees in writing, Lessee shall not, and shall cause each Customer and Provider Client not to, use the applicable Containers for any purpose other than frozen clinical or biological research or diagnostic specimens, or transport the applicable Container to any party or address other than as specified in the applicable Order Confirmation.
2.5 Lessee shall provide Lessor with periodic good faith estimates of the reasonably anticipated demand for Containers hereunder, which shall be non-binding and for planning purposes only.
3. Movement Lease.
3.1 Containers shall be leased on a per movement basis (“Movement Lease”). Lease Transactions commence on the Commencement Date and end at the end of each movement. A movement is defined as that time when the Container is received by Lessee and completed with the Container has been returned to Lessor, as described in Section 2. The Lessor shall be compensated by payment of the applicable Fees for each Lease Transaction where a Container has been tendered to Lessee for delivery at the commencement of the Lease Transaction. A transaction is defined as a completed delivery and return of the Container.
3.2 If Lessee fails to return to Lessee the applicable Container prior to the end of the lease term as set forth on the applicable Order Confirmation, Lessee additionally shall pay to Lessor the applicable additional Fees specified in Schedule 2 hereto.
3.3 The parties shall specify on Schedule 2 which party shall be responsible for billing and collecting the Fees, together with Lessee’s transportation fees, for CrypPort Express for each Customer (and its Provider Clients). For each Lease Transaction for a Customer (and its Provider Clients) for which Lessor is responsible for billings and collections, Lessor shall use the most-current fee schedule of Lessee’s transportation fees provided by Lessee for such Customer, and shall remit to Lessee the applicable transportation fees collected within thirty (30) days after collecting the same. For each Lease Transaction for a Customer (and its Provider Clients) for which Lessee is responsible for billings and collections, Lessee shall use the most-current schedule of Fees for such Customer, and shall remit to Lessor the applicable Fees billed within thirty (30) days after billing the same.
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4. Delivery and Return.
4.1 Delivery. Lessee shall take possession of the Container(s) on the Commencement Date at the Lessor facility identified on the Order Confirmation. At the time of acceptance, Lessee must inspect the Container(s) and identify on Form - 001 (“Delivery Form”) the existence of any visible damages and both parties must sign such Delivery Form. Unless otherwise indicated on the Delivery Form, the execution of the Delivery Form shall indicate that there are no such visible damages. If Lessor delivers a Container that is not serviceable, Lessor will, at its own expense, promptly replace the non-serviceable Container utilizing, to the extent practical, a Lessee service for the transportation of such replacement Container. Because of delivery and return logistics, Lessor reserves the right to substitute Container serial numbers for the Container serial numbers indicated on the Order Confirmation up until the execution of the Delivery Form.
4.2 Return. Lessee must return the Container(s) to the Lessor facility specified in the Order Confirmation free and clear of any claims, liens or encumbrances in a serviceable, emptied and clean condition without damage, except for ordinary wear and tear. The parties will execute Form-002 (“Return Form”) upon the return of the Container(s), indicating any non-allowable damages. Unless otherwise indicated on the Return Form, the inspection by Lessor and the execution of the Return Form shall indicate that there are no such damages.
5. Use of Containers. Lessee shall, and shall cause each Customer and its Provider Clients to, (a) use the Containers in a careful and proper manner and in accordance with the use guidelines established from time to time by Lessor and provided to Lessee (the “Guidelines”), (b) not use the Containers or allow the Containers to be used for any unlawful purpose, (c) not modify the Containers, and (d) use every reasonable precaution to prevent loss or damage to the Containers and to prevent injury to persons and property. Lessee shall cooperate fully with Lessor and any insurance companies producing insurance under Section 11 hereof in the investigation and defense of any claims and suits arising from the use or operation of the Containers.
6. Loss or Damage. Lessee will bear all risk of loss, damage, theft, destruction, attachment, seizure or the like (any such event being referred to as a “Casualty”) of or to the Container(s), reasonable wear and tear excepted, once the parties execute the Delivery Form. Reasonable wear and tear shall include, but not be limited to plastic corners, door hinges, or any other similar areas that experience damage due to manufacturing or design flaws or defects. No Casualty will impair the obligations of the Lessee to pay the Fees for the lease term of the applicable Lease Transaction. Immediately upon Lessee becoming aware of a Casualty, Lessee will provide Lessor with written notice detailing such Casualty. At Lessor’s sole option and upon notice to Lessee, Lessee shall promptly (a) reimburse Lessor for the reasonable costs of repairing the affected Container (but not exceeding the replacement value stated on Schedule 1 or any applicable Order Confirmation (“Replacement Value”)), or (b) pay Lessor the Replacement Value in the case of a lost Container or a Container with respect to which the cost of repair will exceed the Replacement Value.
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7. Pricing; Payment of Fees. Lessor’s current Fees for Lease Transactions, as well as applicable additional fees, are specified in Schedule 2. The prices are valid for one year from the Effective Date of this Agreement. Lessor shall be entitled to change the pricing thereafter on thirty (30) days’ written notice to Lessee.
8. Lessee’s Exclusive Benefit. The parties agree that this Agreement is executed for the benefit of Lessee’s exclusive use of the Container(s) leased hereunder, and Lessee shall not sublease, sublet, loan, or otherwise release to any third party (other than to an affiliate of Lessee performing transportation services in the ordinary course of Lessee’s business as currently conducted) use of any of the Container(s) unless expressly set forth in this Agreement or otherwise expressly agreed in writing by Lessor.
9. Rights to Containers. Lessor and Lessee agree that each Lease Transaction is an agreement of lease only and nothing contained in this Agreement may be construed as conveying to Lessee any right, title or interest in or to the Containers except as a lessee. Lessee recognizes and acknowledges that Lessee has the right to maintain possession of the Container(s) conditional upon Lessee’s compliance with the terms of this Agreement. Lessee will not, without the prior written consent of Lessor, assign or sublease any of the Containers, or hypothecate, pledge or otherwise encumber or suffer a lien upon or against or otherwise convey any interest in this Agreement or any Container leased hereunder (or purport to do any of the foregoing). Lessee shall indemnify Lessor from any and all losses, liabilities, damages and expenses (including reasonable attorneys’ fees and costs) resulting from any such actual or purported assignment, sublease, hypothecation, pledge, encumbrance, lien or conveyance. Upon request of Lessor, Lessee shall execute and deliver a financing statement or similar documents, and take such other actions, to permit Lessor to perfect a security interest in, or to evidence Lessor’s ownership of, the Containers. Lessor will have the right at any time during the term of this Agreement period to inspect the leased Containers, including at Lessee’s facilities. In addition, Lessee will not suffer to be removed any Lessor markings contained on any Container.
10. Container Warranties; Limitations. Lessor warrants that the Containers during the applicable lease term (a) meet the certification requirements as and when issued by the FAA or any other applicable governing body, and (b) will operate within the temperature ranges specified on Schedule 1 hereto for the periods stated therein when operated in accordance with the Guidelines, receipt of which is acknowledged by Lessee (“Authorized Warranty”). Any claim against Lessor for breach of the Authorized Warranty or other duties must be made in writing and promptly pursued within one (1) year from the date of delivery of the Container(s) at issue. Subject to the first sentence of this Section 10, the Containers are leased in “as is” condition. Except as otherwise provided herein, Lessor will have no responsibility, and Lessee shall indemnify Lessor, for any and all claims, including any third-party claims relating to representations and warranties by Lessee outside the scope of the Authorized Warranty.
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THE AUTHORIZED WARRANTY STATED HEREIN IS IN LIEU OF ANY AND ALL WARRANTIES AND LESSOR DISCLAIMS ALL OTHER WARRANTIES RELATING TO THE CONTAINERS AND THE RELATED SERVICES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF NONINFRINGEMENT, FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY. EXCEPT AS OTHERWISE PROVIDED HEREIN, LESSOR SHALL NOT BE LIABLE TO LESSEE FOR ANY LIABILITY, LOSS OR DAMAGE CAUSED OR ALLEGED TO BE CAUSED DIRECTLY OR INDIRECTLY BY THE CONTAINER(S) OR RELATED SERVICES, INCLUDING, WITHOUT LIMITATION, ANY CONTAMINATION, SPILL OR LEAK FROM A CONTAINER. IN NO EVENT WILL LESSOR BE LIABLE TO LESSEE FOR INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, DAMAGES DUE TO LOSS OF USE, LOST PROFITS OR ANY INDIRECT DAMAGES, EVEN IF LESSOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE.
Lessor shall indemnify and hold harmless Lessee from and against any cargo loss or damage resulting from a container’s failure to perform with the representations and warranties set forth in this Section 10. Lessor's liability to Lessee under this Section 10 for cargo loss or damage per shipment shall always be limited to the amount that Lessee pays for such loss or damage.
Lessee agrees to defend, indemnify and hold harmless Lessor and its affiliates, employees, officers, directors and owners (collectively, “Lessee Indemnified Parties”) from and against any and all losses, liabilities, damages and expenses (including reasonable attorneys’ fees and costs) resulting from any claim, demand, action or other proceeding, whether asserted or incurred during or subsequent to the Term (defined below), relating to or in any way arising out of the possession, maintenance, use, control, loss, damage or destruction of the Containers or any portion thereof, except for losses or injuries caused by Lessor’s negligence or breach of the Authorized Warranty. Lessee will, promptly after it becomes aware of it, give Lessor prompt notice of any occurrence, event or condition in connection with which Lessor may be entitled to indemnification hereunder.
11. Insurance. Lessee will, at all times and at its own expense, during the Term hereof and for three years thereafter, maintain insurance insuring Lessor and Lessee, as their respective interests may appear and covering liability for bodily injury and property damage resulting from the transport of the Containers. All such insurance shall be obtained in such amounts and from reputable companies as is customary in the industry.
12. Events of Default. The following shall be “Events of Default” hereunder with respect to any Container (and an Event of Default with respect to any Container shall be an Event of Default with respect to all Containers): (a) Lessee shall default in payment of any Fees or other amounts due hereunder, (b) Lessee shall be in breach of any other term of this Agreement, or (c) Lessee shall become insolvent, makes a filing in bankruptcy, dissolves or otherwise terminates its corporate existence. If an Event of Default occurs and should such Event of Default continue for more than five business days after Lessee’s receipt of written notice of such default, Lessor may, at its option, (i) require Lessee to return any or all Containers in accordance with Section 4.3, (ii) take possession of any or all Containers wherever found, enter into the premises or aircraft where the Container(s) are located and disconnect, render unusable and remove the Container(s) or (iii) require Lessor to pay as liquidated damages for loss of the benefit of its bargain and not as a penalty, their “Default Value” plus all Fees that are payable to the date that Lessor receives payment of the Default Value and such Fees. “Default Value” means all unpaid Fees and other charges including cost of return to Lessor facility specified in the order. The foregoing rights shall be in addition to any other rights and remedies available to Lessor at law or in equity. No remedy referred to in this Section 12 is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to above or otherwise available to Lessor at law or in equity. No express or implied waiver by Lessor of any Event of Default shall in any way be, or be construed to be, a waiver of any future or subsequent Event of Default.
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13. Term and Termination. This Agreement shall commence on the Effective Date, and shall be valid until one (1) year from the Effective Date (“Term”); provided, (a) this Agreement and any applicable Order Confirmation shall survive with respect to any Lease Transaction still in effect at such expiration date until the end of the lease period for that Lease Transaction and the return of the applicable Container(s) as provided herein, and (b) this Agreement shall automatically renew for additional one-year terms unless one party gives the other party written notice of non-renewal at least thirty (30) days prior to the then-current Term. In addition, Lessor may terminate this Agreement on written notice to Lessee on the occurrence of any Event of Default that remains unremedied after the period of time specified in Section12 for Lessee’s cure. Sections 10, 11, 13 and 14 shall survive termination or expiration of this Agreement. Either party shall have the right to terminate this Agreement for convenience upon providing the other with thirty (30) days written notice.
14. General Provisions.
14.1 Force Majeure. No party to this Agreement shall be liable to the other party for any failure or delay in fulfilling an obligation hereunder other than payment of money, if said failure or delay is attributable to circumstances beyond its control, including, but not limited to, any fire, terrorism, power failure, labor dispute or government measure (“Force Majeure”). The Parties agree that the deadline for fulfilling the obligation in question shall be extended for a period of time equal to that of the continuance of the Force Majeure. Each party shall use all commercially reasonable efforts to minimize the effect of the Force Majeure on its performance under this Agreement.
14.2 Notices. Notices under this Agreement shall be valid if given in writing and sent by recognized overnight courier, registered mail or fax to the addresses shown on the invoice. Notices will be effective upon receipt.
14.3 Operation of Containers. Lessee agrees that in its use and handling of the Containers it will strictly comply with the Guidelines and such additional instructions as Lessor shall provide in writing to Lessee. Lessee agrees that it will comply with all applicable laws and regulations relating to its use and possession of the Containers.
14.4 Non-Waiver. No failure by Lessor to exercise, nor delay by Lessor in exercising, any right or remedy which it may have under or with respect to this Agreement shall operate as a waiver thereof of any other right or remedy available to Lessor. No waiver of any such right shall be effective unless the same shall be in writing and signed by Lessor.
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14.5 Integration. This Agreement (including any Schedules and Order Confirmations) constitutes the entire agreement between the parties. This Agreement only may be amended by a written agreement between authorized representatives of the parties. If any portion of this Agreement is held to be invalid in any jurisdiction, such provisions shall be severed from this Agreement and the remaining provisions shall remain in full force and effect. Any term or condition set forth in any Order, Order Confirmation or other document or instrument (other than as expressly required hereby) that conflicts with, or adds to, the terms of this Agreement shall be of no force or effect, except if such document or instrument is duly executed and delivered by each party and expressly and conspicuously references and supersedes this Agreement.
14.6 Confidentiality and Advertising Restrictions. Except to the extent disclosure is required by applicable law, regulation or court order, the parties agree that this Agreement and the terms hereof shall be kept strictly confidential by them, and each party shall in each instance obtain the prior written approval of the other concerning exact text and timing of news releases, articles, brochures, advertisements, prepared speeches and other information releases concerning this Agreement. No license or grant whatsoever pertaining to a party’s trademarks, tradename, logos, service marks or other intellectual property is granted to the other party pursuant to this Agreement.
14.7 UCC Filings; Additional Information. Lessee will provide reasonable assistance to Lessor with respect to the Lessor’s recording, filing, re-recording and re-filing of any financing statements or other instruments as are reasonably necessary to maintain the perfected security interest and ownership interest of Lessor in each Container, together with such instruments, in execution form, and such other information as may be required to enable it to take such actions.
14.8 Assignment. Lessee acknowledges that this Lease Agreement and its rights, duties and obligations are personal to Lessee and may not be assigned, delegated or otherwise transferred by Lessee without Lessor’s prior written consent. Any attempted assignment, delegation or transfer by Lessee in violation of this subsection 14.8 will be void and will constitute a material breach of this Lease Agreement. Nothing herein shall be construed to limit Lessor’s right or ability to assign, delegate or transfer this Lease Agreement.
14.9 Governing Law. This Agreement will be governed and construed in accordance with the laws of the State of Delaware without reference to the conflicts of laws provisions thereof.
14.10 Counterparts. THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS, EACH OF WHICH, WHEN SO EXECUTED AND DELIVERED, SHALL CONSTITUTE AN ORIGINAL, FULLY ENFORCEABLE COUNTERPART FOR ALL PURPOSES EXCEPT THAT ONLY THE COUNTERPART STAMPED OR MARKED ‘COUNTERPART NUMBER 1’ SHALL CONSTITUTE ‘CHATTEL PAPER’ OR OTHER ‘COLLATERAL’ WITHIN THE MEANING OF THE UNIFORM COMMERCIAL CODE AS IN EFFECT IN ANY JURISDICTION.
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EACH PARTY’S SIGNATURE BELOW ACKNOWLEDGES THAT SUCH PARTY HAS READ AND UNDERSTANDS EACH OF THE TERMS AND CONDITIONS OF THE AGREEMENT AND AGREES TO BE BOUND BY THEM.
FEDERAL EXPRESS CORPORATION CRYOPORT, INC.
BY: /s/ Jerry Beyl BY: /s/ Larry Stambaugh
NAME: Jerry Beyl NAME: Larry Stambaugh
TITLE: Vice President FedEx Worldwide Svcs TITLE: Chairman and CEO
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SCHEDULE 1
CONTAINERS
Model No.: EXP5
Description: The CryPort Express Shipper Model No. EXP 5 is an IATA certified cryogenic dry vapor shipping container which holds 5.5 liters liquid nitrogen and has a full weight of 10.2 kilograms.
Replacement Cost: [***]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
[ADDITIONAL MODELS MAY BE ADDED
BY MUTUAL WRITTEN AGREEMENT OF THE PARTIES]
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SCHEDULE 2
CUSTOMERS AND FEES
Customer: [***]
Billing Party: Lessor
Fees: [***] for each Lease Transaction, for up to 14 calendar days after the applicable Commencement Date
Additional Fees: [***] for each Lease Transaction, if the Container is not returned to Lessor within 14 calendar days after the applicable Commencement Date, for each period of 14 calendar dsays (or portion thereof) thereafter, up to a maximum of [***] for each Lease Transaction
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
[ADDITIONAL CUSTOMERS MAY BE ADDED BY MUTUAL WRITTEN AGREEMENT OF THE PARTIES]
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You got that right. According to the restructure agreement they about 3 months...maybe 4 before they run out of cash again. I did like being able to see the fedex and cryoport agreement in more detail, even though it left out prices.
10 K out
Daryl Yeelit
http://www.aase.us/profile.asp?ID=1000081
The team is being put into place and everyone has very good credentials.
Let me ask you this CYRXorbust, would you rather not be diluted because we couldn't get financing or diluted because we got a rather large financing package?
I agree with Cryoport that the 10K will be nothing new except for the fact that it will show $4M in losses due to extinguishment of debt related to the outstanding debt talked about in the NT.
15 days max to file 10K.
It looks as if we will not see the year end filing tomorrow. A notice of late filing.
http://www.sec.gov/Archives/edgar/data/1124524/000101968709002352/cryoport_ext.htm
Cryoport, it looks like that was a good catch and a clerical error on the revenue range. I had emailed Mr. Fine to ask him about it and it was the only time I didn't get a direct response from him, I received a thank note from CYRX for asking about financial info.
CYRX filed a corrected Reg D with revenue range of $1 - $1M.
Also, under the company link, the inside cryoport page is under construction.
Could that be a low ball estimate for 2010? I know that is says the most recent fiscal year end, but it is hard to believe we really did a $1M in revenues by March 31st? Clerical error! LOL. Plus I would imagine there would have been a filing or a release regarding what could have led to these revenues.
GLTA
I believe that may be correct regarding the revenue range on the Reg D Filing. These were revisions made effective Sept. 15, 2008 for Reg D filings.
Revisions to Form D
The rule amendments reorganize the information requested in Form D that generally reflect the information currently requested on the form. The principal changes are:
• Date of First Sale: An issuer must specify the date of first sale or indicate that the first sale has
yet to occur.
• Length of Offering: Issuers must report whether the offering is expected to last over a year.
• Number of Investors: Issuers must disclose the total number of investors, including the number of non-accredited investors, if the issuer has sold or may sell interests to such non-accredited investors.
• Revenue Range Information: For issuers other than pooled investment funds, revised Form D asks the issuer to indicate in which of several specified dollar ranges its revenue for its most recent fiscal year falls. An issuer may indicate that this disclosure item is not applicable or may choose the “Decline to Disclose” option.
• Minimum Investment Amount: The only minimum investment amount information an issuer must now report on revised Form D is the minimum accepted from outside investors.
We will soon find out! Could we wee over a million in revenue on year end filing?
GLTA
Cryo: The revenue in the filing is according to the offering. If you notice, the first filing was for the amount of $1M. This update shows an increase to the total amount of the offering for $1.5M, so CYRX had to adjust the filing accordingly.
This diversification away will definitely hurt the dollar but IMO will be good for us in the long run. It would lower the influence on our currency and it's subsequent influence on commodities from outside investors. IMO, if there is global reserve currency, it would actually help decrease currency volitility but it will be a long while before we see any kind of super reserve currency.
The majority of banks are not in trouble, it is just the larger investment banks, but they do hold a good grip of investments. It is pitiful, our clients that did not take the risk (like most americans)and have to pay for these bailed out jokes with special FDIC assessments in which they originally were supposed to pay 15 basis points on total deposits! What a joke that was, wow banks had a real incentive to bring in deposits then...yeah right! It was decreased substantially to .05% of total assets minus capital when they realized how unfair it really was (bank CEO's replying to the FDIC saying F U !).
Insolvency plaguing most of the states is a real threat and I hope we can see some positive growth and employment rise to help this situation.
Like you said, I personally like all commodities and precious metals at this point.
Tiger I pretty much agree with everything you said. It is a bit of a doomsday kind of scenario though, you are assuming there will be no Real GDP and China will want to pull out investments from the US, but where would they want to put them? This scenario could very well happen. The very large banks have obviously taken a large hit from derivatives and bad mortgage loans...
but, that being said, many smaller banks did not take on the risk these citi gangsters took on. I work with a number of community banks from all over the US on a monthly basis and while they have seen a hit to their balance sheets, they are still generating profits, making loans and attaining deposits. None of them are TARP banks.
With the Fed easing and capping borrowing rates and treasuries, you are telling it like it is, as Inflation is a very real threat right now and IMO I believe they need to back off this constant easing and let some of the pain be felt on wall street and correct, although it is going to hurt. IMO, you are right on the precious metals also, we will see those prices steadily rise for a good period of time. Especially the yellow one.
But it's alright because Cryoport will save the universe.
Larrrryyy!!!! I really hope that we hear something before year end filing.
GLTA
IMO, this offering is just to keep Cryoport at the appropriate level with regards to available capital. Stambaugh going around explaining what is on the table to investors and bringing in immediate capital during negotiations on the larger financing package.
Hope to hear something before June 30th.
GLTA
On the economic plate this week:
Tuesday FOMC Meeting – Day 1
Existing Home Sales
Auction: 2-year T-note
Wednesday FOMC Meeting – Day 2
Durable Goods Orders
New Home Sales
Auction: 5-year T-note
Thursday Weekly Jobless Claims
Revised Qtr. 1 GDP
Auction: 7-year T-note
Friday Personal Income/Expenditures/Savings
PCE Deflators
Univ. of Mich. Consumer Sentiment Index
The Fed has a hell of job to try and cap borrowing rates, mortgage rates and treasury yields while keeping inflation under control and waiting for economic recovery, growth in consumer spending, good earnings reports and employment rates to roll over. Also, Of late there has been growing pressure for the Fed to begin normalizing the ever-increasing thing they call a balance sheet and begin tightening up. Although the Fed has a ways to go before completing the massive stimulus program, tightening would decrease liquidity and likely hurt the equity market but the Fed would like to keep consumers happy and confident (achieve consumer spending growth).
We need GDP growth and earnings if the broader market wants to perform. Like tiger said, if earnings are dismal and indicators are weak, those sectors will likely suffer in the equity market.
CYRXorbust, I know nothing, I would not be on this board if I did. I am also trying to be realistic, just a more positive realistic. It is not a miracle for Larry to be able to use levearage on both sides (financing or sales). You could be right as well, I don't know.
Tiger, very good post, I am not speaking on behalf of myself, but others may have invested in CYRX at 3$ and still believe in the company and want to be in it long term. Why not bring down that price for investment and try to enhance the growth rate of your potential return percentage.
I don't think they will say, "be fair to the equity holders and make this deal as anti-dilutive as possible" I think Larry might say, we have 90Mill in garunteed revenue, who wants to give us the most favorable financing and make alot of money. I don't know where you got they I infered a miracle in my last post but you do not seem to believe in CYRX. Why don't you sign an NDA and get it over with?
Since we are in desperation mode, I don't think we need to be concerned with dilution at this point. Again, I share your frustration, as we all do. We need this company to get up and running before we start worring about trimming up and getting favorable financing (IMO Larry will not let current shareholders get f***ed). How long to wait? All I can say is we gave Peter Berry 4 years and we give Larry Stambaugh 5 months?
Others on this board could probably tell you more about general different types of financing and the corresponding results to current shareholders.
GLTA
Objective indeed.....but purely a trading and technical point of view. My view is an investor for the long term.
Like tiger said "The better it is, the harder it is to get long, not easier" so if you are investing, believe in the management and the product it is a good time to average down your position depending on the timing of your initial investment, missing a dime here and there should'nt matter for the investor. Gambling that news is around the corner is the story of this stock...but any stock you buy is a gamble. Even when you are a technical trader you are gambling it will hold it's resistance levels or charge past the moving average, which obviously is not always the case.
The logical reasoning behind buying CYRX is the belief in the product and the track record of Larry Stambaugh and management to bring value to it's shareholders.
Don't worry about it sageman. I share your frustration. It has been a very bumpy and boring ride with Cryoport. I truly believe that we are closer than we have ever been. IMO, the technology is above all and will become the industry standard. Hopefully soon we can all have something to talk about.
Until then...again, bring on the wags, tech, analogies and jokes
GLTA
Sageman, I don't know where you got the idea that we sent out PR to 1,100 dealers? It looks like the 1,100 information was regarding a GM article May 17th?
I think you were trying to say I would wipe the floor with you? It doesn't matter. SPNG.ob down 27.66% and CYRX.ob down 19.05%, looks like they were both turds today. Put the balance sheets side by side and you will see SPNG.ob takes it AT THIS TIME.
IMO CYRX will wipe the floor with everybody when this thing gets moving.
Patiently waiting to dissect CYRX when we get some info!
GLTA
Well as I returned I checked what had happened last week and I did say WOW....but not the WOW I was looking for. Everything at this point is a WAG, the tech analysis also will be thrown out the window once we here something with regards to financing or sales. With news we'll have much more productive in-depth discussions regarding the future success and growth of Cryoport. But until then bring on the WAG's, tech analysis and analogies.
DWal I too will eat flying pigs. That is hilarious.
Thanks on the update BBF. You are probably feeling a bit more comfortable than most being more on the inside than others, but IMO there nothing to worry about.
Cheers to all
GL
Ahhhh...that would make sense why no questions made it to Larry yesterday. Thanks for looking into it CP. I look forward to having some communication with Mr. Stambaugh. It just really feels nice to have him at the wheel. I'm headed out of the country next week (Maybe Dwal will make it but probably next time) hopefully I can return to say WOW!