DNAprint Genomics (DNAG)

[frogdreaming]

The idea back then was to disguise a RS inside the spin-off.

They would transfer the assets to the spin-off (with Dutchess' OK) they would issue a fraction of the stock in the spin-off to current shareholders (at some very large ratio) then they would IPO the spin-off. Dutchess would still control the spin-off based on their stock ownership in the original company. The new company would then carry on selling shares with a new AS and a very low OS. Shareholders ownership would have been diluted as if it was a reverse split but it would not be a RS.

They announced the new entity, they got Dutchess buy in, they even 'hired' all the managers to the new company, but it fizzled out. They couldn't get any interest from the investment community. They have since that time abandoned the registrations and copyrights on the names. It is a dead issue.