Applied DNA Sciences Inc (APDN)

[Shail]

CK,

My viewpoint.

Maybe FMV is not appropriate for a stock like APDN as it does not have a mature business model. A lot of its value probably lies in its future potential.

Having said that, what worries me is that APDN has been around for quite some time now. Can we really say that it is a company in its developmental stage. Their core technology has more or less been there all these years. Yes they have found new applications and might have refined it here and there.

I am intrigued by the fact that this stock hit a high of 29 cents back in 2011/12 time frame. That was on the basis of one DLA contract. Outstanding shares were already high by then. Revenues were not high and expenses were hitting the roof. Since then, we have had multiple contracts from the private sector, the DLA, MDA etc. Revenues have been steadily increasing and hitting record highs. Expenses have been steadily decreasing. Things could have been better but then they have not been all that bad.

Why then has the stock price fallen from 29 cents to the current levels of almost 8.5 cents. Is something else wrong with the company. Bad financial management? Things which have not been disclosed to average shareholders? Why did the sentiment become negative over a period of time. Any other penny stock with the kind of announcements and progress shown by APDN, would have appreciated handsomely. Not the case with APDN.