Biomoda Inc. (fka BMODQ)

[lefty18]

I just read the 10K and found it to be quite bullish. Management sounds confident that the trials will be a success. A couple of things stood out to me as possible negatives:

1.The company has no science experts. They list advisors and partners that are MD's. This is definitely an unusual set up for a biotech. Are these advisors getting paid with money or shares? We've already seen one trial glitch with the positive control group. From a financial standpoint it's a plus to go as lean as possible, so maybe for shareholders it will save us in terms of less (perhaps a lot less) dilution.

2.The company's cash position is meager. Reading between the lines, I think the company believes that they will see substantial price appreciation over the coming year and will be able to raise sufficient cash to fund phase III and commercialization without substantial share dilution. Ideally the price will rise to a dollar on great phase II results and the beginning of phase III through 2011. Is the goal to be starting phase III by the end of 2011 or finishing phase III by the end of 2011? When are they hoping to reach commercialization?