Pilot Therapeutics Holdings, Inc. (PLTT)

[MWM]

Very interesting Thanks Steve!

But Wakeman said the process has been aided rather than hindered by Pilot's existing investors and creditors.

"They see what we see, and that is a technology and IP portfolio that is outstanding," Wakeman said. "A lot of stakeholders believe very much in the future of the company, and that has allowed us to get into a position where we can concentrate on moving forward."

The first step will be raising a seed round of funding to pay for the final development work and introduction of Pilot's first new products. Much of that work was completed before the company went out of business the first time, but Wakeman declined to say how much he though Pilot would need to raise to finish the job.

Pilot has opened an office on Fourth Street in Winston-Salem. Wakeman hopes to have the money raised to relaunch the company by the end of the year and to have products on the market by the end of 2008.