Applied DNA Sciences Inc (APDN)

[Foose]

It was a disappointing call. Besides reporting another crappy quarter in what was supposed to be the first of two really really good quarters from cotton, Doc Hayward decided to hide behind a really long and boring science lesson. Basically he disrespected his investors by taking over our heads, trying to make excuses by showing off the PCR product.

APDN has a contract with Himatsingka that calls for Himatsingka to pay in 60 days. Doc Hayward called in a favor and pulled a cotton order into the quarter to pad what was going to be another bad quarter. Himatsingka must have asked for extended terms, and the auditors nailed Doc Hayward.

Raise your hand if you don't think Doc Hayward isn't playing games over there.

BTW, Maxim took their numbers down for the year to $4.5 million from $8.7 million. That implies $1.8 million in Q4. Raise your hand if you think chances aren't good that APDN will do even that.

I was a seller yesterday and I'll prolly be a seller today. I'm still in the green on this stock so I can't imagine the pain others are feeling. I have a feeling the stock will again see last summer's low once they announce a PP. At this point its much safer to buy the stock once it establishes an upward trend than trying to call the low.