Applied DNA Sciences Inc (BNBX)

[speed_of_light]

Let me first address a couple of issues you seem to brush off as irrelevant.

Share price - I'd argue that its trend and what it implies in terms of market cap and in turn what market cap implies in relation to the company's current and future prospects is a fundamental consideration when evaluating an investment in a company's stock.

So even though APDN is still a penny stock (as defined by the SEC as under $5 - and effectively so as a 1/60 r/s is merely cosmetic) the price trend has reflected a progressive devaluation by the market of its view on APDN's performance and prospects.

Authorized share count - when a penny stock company 1) increases its authorized share count - OVERNIGHT - 30 fold and 2) appears to mislead its shareholders into thinking they'd actually reduced it - I think that's troubling on multiple levels.

At least one poster, Cheekie, is under the impression that the authorized share count has decreased by 50% instead of having been increased by 30 times (!) and I bet there are others like him as well.

Furthermore the company has a Long history of continually diluting its shareholders.

So to approve an Authorized Share count that's so egregiously higher than what a company that planned on being cash flow would need is a HUGE red flag.

Mgt/BOD pay - I know other "longs" have posted their frustration with the Very Generous pay packages mgt/bod bestow upon themselves. It goes to the heart of whose interests they're representing - theirs or the shareholders.

No mgt/bod purchases of stock, not even the CFO - if they don't have sufficient confidence in the company to buy EVEN 1 share why should you?

Ok

No moat - Just look up on this board the numerous references to other companies plying "tagging" tecnology. This doesn't even include the in-house endeavors being undertaken by the large multi-nationals. I won't even get into the myriad other technologies out their offering security solutions.

I know you're going to say, "but their tech is at a forensic level." Most products in the market place don't even need that level of security and the ones that do are 1) probably looking for a solution that doesn't involve introducing a foreign substance into the production process and 2) disinclined to go with an under-capitalized company devoting only $1.5mm p.a. to research and development that has undergone 4 or 5 names changes on the pink sheets before it finally emerged as "APDN".

Also APDN's tech has been publicized for years and no significant funds have given it the time of day. So either they can't recognize a "revolutionary" product when it's staring them in the face or -- it's not a "revolutionary" product.

Clunky technology - Let's say you're an engineer and you want to figure out how to prevent counterfeits. Tagging requires introducing both another step into the production process as well as putting a foreign substance into the mix. Sorry but I figure this setup just won't sit well with someone who's devoted to improving efficiency in addition to effectiveness. No way No how.

Cotton and Cars: APDN is hardly pulling in any revenues to speak of and I think it will continue along those lines. It'll remain mostly a novelty item.

Home kits - How many of the "longs" have purchased a home marking kit? I rest my case.

Cars - How many of you care whether your car has been tagged with DNA? I rest my case.

So more dilution in store.

So maybe "tagging" tech can be seen as a temporary fix - but definitely companies are looking waaayyyyy beyond this sort of technology to something that fits more seamlessly into a production process.


Under-capitalized - If APDN doesn't grow it will have to dilute shareholders ---- If APDN grows it will have to dilute shareholders to support working capital requirements. My guess is on the former as I tend to go with statistics rather than hope when it comes to gambling.

That said I'm happy to buy APDN at certain levels and then flip it on unsustainable spikes or pumps. The stock has been manipulated several times and will probably continue to serve that purpose - and for that reason I'll play along and profit accordingly.