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WASM (761,750 Float) Reverse-Merger with CytoBioscience <u>Updated DD</u>:

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zen222 Member Level  Wednesday, 06/13/18 10:17:19 PM
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WASM (761,750 Float) Reverse-Merger with CytoBioscience Updated DD:
8-K showing about $40 million in assets valuation with the shares that were exchanged for the merger. https://backend.otcmarkets.com/otcapi/company/sec-filings/12644875/content/html

CytoBioscience, Inc. website: http://cytobioscience.com/

The latest 10-Q including revenue and a significant number of patents is late because they're doing fully audited financials for CytoBioscience and SolubleBioScience both of which are being rolled into WASM.
Which turns out to be a chance for others to get in before The Street.

Share structure:
Authorized Shares 50,000,000
Outstanding Shares 11,017,402
Float 761,750

Shares have to be issued for the merger but they're all restricted for up to 2 years per lock-up agreement.

After the merger is finalized:
A/S 100,000,000
O/S 54,382,961 (Over 53 million are restricted)
Float 761,750

CytoBioscience's instrument is used by the FDA in its safety pharmacology studies and there isn’t any real competition.
Our patch clamp robot is the gold standard in accurate and reliable data while saving massive amounts of time and money.
Video: https://youtu.be/g2yahi4VJJs

The base CytoPatch unit sells for $175,000, and CytoBioScience also sells microchips, buffers, solutions, cells, and specific types of shipping containers to researchers on a recurring basis, Garvin says. CytoBioscience, which changed its name last year, was founded in Germany and moved to San Antonio in 2015. Regulatory filings show CytoBioScience had raised about $15.8 million as of August 2016.
They just did a $1.5 million non-dilutive offering so they're flush with cash now. ($1.53 million equity round of funding)

From the 8K - "Each of these revenue-generating segments; instruments, consumables and contract research, is a leader in its technology and in its capacity. Having undergone years of testing, starting, restarting, and honing its development into the cutting edge it is today, the Company is experiencing accelerating revenue growth and is well-positioned to reach its potential."

Also: "The market is experiencing strong growth, driven by both regulation and rising demand for outsourced safety pharmacological work.
The company is engaged with both private and public partners globally, including the FDA."

Back in Aug 1, 2017, CytoBioscience came close to merging with Skyline Medical now Precision Therapeutics Inc. NASDAQ (AIPT)
They bragged that CytoBioscience had a current backlog of $6 million in orders and anticipated contract research work.

CytoBioscience's latest acquisition: SolubleBioScience f.k.a. Soluble Therapeutics https://solublebioscience.com/

CytoBioscience, Inc. has purchased Birmingham, Alabama-based Soluble Therapeutics and will move the company’s operations to its San Antonio location.
Details of the multi-million dollar purchase price were not disclosed.


Some past DD: http://therivardreport.com/german-biotech-company-moving-to-san-antonio/

Hoovers and Manta both have educated low-ball guesses of at least $5 million in revenue. http://www.hoovers.com/company-information/cs/company-profile.cytocentrics_inc.c7a5e565a9d4e534.html


CytoBioScience has 4 locations:
San Antonio, TX
New Orleans, LA
Birmingham, AL
Cologne, Germany

The officers and (B Of D) are all giants in their fields:
James R. Garvin, PhD Chief Executive Officer, President, and Director
Thomas Knott, PhD Chief Science Officer and Director
Henry C. Bourg, CPA Chief Financial Officer
Paul Castella, PhD Director
Ian Clements Director
Alan Dean Director
Shing Leong Hui Director
Sue Lynn Hui Director

Contact info:
Dr. James Garvin, PhD

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