Applied DNA Sciences Inc (APDN)

[ckuratz]

For those who speculate that management has executed the S-1 because it knew how it would evolve from the time that it committed to it, and particularly to those who say that the S-1 has worked out to management's benefit, doesn't make sense. All 2 million options held by insiders are underwater at the current pps. 85% of the 764K outstanding warrants are also underwater. 100% of its pre-S-1 investors are angry and feel betrayed.

I believe management was blindsided by how the S-1 worked out. Management can be criticized for naivete, ineptitude, or even stupidity, but to say it did this for its benefit is ignoring the facts, IMO.