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Wednesday, January 14, 2004 1:33:11 PM
Yes, we can both agree Dr Frudakis, coached by his dad, no doubt, is unwilling to take the short end of the stick.
I'm convinced that he's equally unwilling to give it to his shareholders. There'll be some dilution, but our share price clearly has remained low long enough that through accumulation we have been able to build in dilution protection.
With respect to established companies unwilling to enter into agreements based on Frudakis's perception of value, I believe that until the full implications of genetic testing sinks in--the recent FDA guidelines help--these companies were willing to dabble here and there out of petty cash, just in case, Genaissance, say, had something important for them, but without realizing the massive influence genetics was about to play, kept their checkbooks locked up.
Look, all these other companies, DNAP's competition, who are supposed to be so much further ahead, why don't they have Ancestry or DNAWitness. That I think is the key, DNAP is way ahead, so far ahead, Dr Frudakis couldn't explain it to drug makers whose declining answers were shrouded in ignorance.
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