Holycow, GE does provide financial assistance for proven tech. Others that do are Wyeth and Dupont. However, they would be acting as venture capitalist do in that they would ask for results by certain projected dates, and, if the company's projections are well off target, would take more control of the deal, i.e. mores shares, more board members. They might also create a debt instrument which would have to be serviced before stockholders get anything, as a venture capitalist would do. These guys don't want that.
IMHO What this company needs is to be run by a business person or persons. Our Doctors may be brilliant, but they aren't doing this right. They need help in packaging a business plan that would encourage a donor to make a grant. Their reluctance to have a big pharma partner or a venture capital firm back them leaves them only PPOs to keep going. Not to insult Bigworlds banker friend, but this company doesn't qualify for debt financing of any sort: no LOC which is based on cash flow from operations, no conventional mortgage without cashflow unless guaranteed by an "angel", no SBA loans under any program (although an SBIC might help for very favorable ownership position). They are too small for an investment banking firm which would also insist on permits being in place and a clearly defined market.
This company doesn't want to be bossed around or have demands made on it by venture capital or big pharma. I want it to work like the rest of us, but they need to act like business people. Did you read the company's report on the SHM on its website? Exciting huh? Without news from our fellow posters we would essentially no news on the meeting.
On a positive note, I have been told there is some positive news coming soon. Can't say what because I promised I wouldn't (and I don't want Houndish all over me LOL). Take care.
