Protein Polymer Technologies, Inc. (fka PPTIQ)

[illuminati2012]

Link...From the 10-QSB 9.31.07...

Not good. How is this stock at .12? You'd think it would be wiped out by now. With the huge AS increase and the "going concern" need to use stock to raise capital, this OS has to be going way up soon.

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5554823

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the nine months ended September 30, 2007, the Company incurred a net loss of approximately $2,682,000 and had a working capital deficit of approximately $7,474,188 at September 30, 2007. Our cash and cash equivalents of approximately $59,000 in combination with anticipated additional contract and license payments are insufficient to meet our anticipated capital requirements.


Since April 2006 the Company has relied primarily on borrowings pursuant to a note payable from a related party for capital needed to fund its operations and working capital requirements (see Note 4). The maturity of the note has been extended until January 10, 2008. There is no assurance this maturity date will be further extended. As of the end of September 2007 additional borrowings under the Company’s existing debt financing provided by a related party are unavailable and the lender continues to hold essentially all of the Company’s assets as collateral.


As discussed in Note 6, the Company entered into a Stock Purchase Agreement dated September 27, 2007, pursuant to which it has raised a total of $280,000 through November 14, 2007. The funds raised under this agreement are best efforts and any future sales of common stock have not been arranged.


Prior to the commercialization of its products, substantial additional capital resources will be required to fund continuing operations related to the Company’s research, development, manufacturing, clinical testing, and business development activities. The Company continues to explore other potential financing sources and collaborative partners and funding in the form of equity investments, debt instruments, license fees, milestone payments or research and development payments could be generated. There can be no assurance that any of these other potential sources of funds will be realized in the time frames required for continuing operations or on terms favorable to the Company, if at all. If adequate funds in the future are not available, the Company will be required to significantly curtail its operating plans and likely cease operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern