yeah ,all the company has are patent and they don't collect royalties ,,maybe of stem cells are approved and are the modus of operation ---only then would this stock start to move up. the company's president m chassman is married and is a front for the famous bio traders d. blech and he got into trouble before with the sec,jmo. Do a search on him. Anyhow , he does know something about biotech and how to pump and dump ,he might of caused the dead cat bounce for all i know. but its way to early to be in this ,let it fall to .0001 and then you might have a gold mine ,yet he would be buying there first before any of us ,unless it goes chp 11.
We also noted that the founder of Genetic Systems, David Blech, was found guilty of two counts of fraud.
The Seattle Times just provided some follow-up about another of the principle figures in Genetic Systems, Dr. Robert Nowinski, whom Blech hired to run the company. After he sold his shares in Genetic Systems, Nowinski went on to found three more bio-technology companies, Icos, PathoGenesis, and VaxGen, and he helped to found Primal. In 1990, he said, "if you took the 15 largest biotechnology companies of the 1980s, we founded three of them." After getting out of bio-tech, he went on to set up a high-tech art gallery in Seattle. However, this year he was reported again to be trying to "broker a billion-dollar deal with a local biotech company on behalf of some major investors."
The Times reported he has just been arrested on two federal criminal counts of failing to pay child support. Prosecutors say he is about $125,000 in arrears. He has also been subject to civil suits that claim he hid assets during his divorce proceedings, and that he withdrew a "loan," never paid back, from a trust fund meant to benefit his children from the failed marriage.
What a motley crew we have had running health care organizations!
Perhaps it's time to think about setting some standards for who gets to do that.
posted by Roy M. Poses MD at 11:43 AM
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AboutAddressing threats to health care's core values, especially those stemming from concentration and abuse of power.
ContributorsBernard Carroll
APeticola
Kimball Atwood MD
Cetona
MedInformaticsMD
Roy M. Poses MD
Wally R. Smith, MD
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