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Saturday, April 02, 2005 8:32:02 AM
Hilarious!
If we are unable to retain the services of Ms. Monica Tamborini or Messrs.
Richard Gabriel, Tony Frudakis and Hector Gomez, or if we are unable to
successfully recruit qualified personnel, we may not be able to continue
operations.
Our success depends to a significant extent upon the continued service of
Mr. Richard Gabriel, our President and Chief Executive Officer, Ms. Monica
Tamborini, our Chief Financial Officer and Chief Operating Officer, Mr. Tony
Frudakis, our Founder and Chief Scientific Officer, and Mr. Hector Gomez, our
Chairman of the Board and Chief Medical Officer. Loss of the services of Ms.
Tamborini or Messrs. Gabriel, Frudakis, and Gomez could have a material adverse
effect on our growth, revenues, and prospective business. We have employment
agreements in place with Ms. Tamborini and Messrs. Gabriel, Frudakis, and Gomez,
which are incorporated by reference from our Form 10-KSB, filed March 30, 2004.
We do not maintain key-man insurance on the lives of Ms. Tamborini or Messrs.
Gabriel, Frudakis, and Gomez. If Ms. Tamborini or Messrs. Gabriel, Frudakis, and
Gomez were to resign, the loss could result in loss of sales, delays in new
product development and diversion of management resources, and we could face
high costs and substantial difficulty in hiring qualified successors and could
experience a loss in productivity while any such successor obtains the necessary
training and experience. In addition, in order to successfully implement and
manage our business plan, we are dependent upon, among other things,
successfully recruiting qualified personnel who are familiar with the specific
issues facing the deciphering of complex genetic traits. In particular, we must
hire and retain experienced management personnel to help us continue to grow and
manage our business, and skilled genetic technicians to further our research and
development efforts. Competition for qualified personnel is intense. If we do
not succeed in attracting new personnel or in retaining and motivating our
current personnel, our business could be harmed.
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There comes a time when you define the moment, or the moment defines you. - Tin Cup
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