Friday, July 15, 2005 7:35:14 PM
What's good and what's bad in the filing are going to be defined by our personal slant on DNAG. The boiler Plate is of course depressing. The dilution as outlined is depressing. The probability of a lower share price brought on by dilution requiring addittional dilution is classic death spiral financing.
No Patents have been issued to protect our "jewels". That process has recentley had two "final rejection" letters, but Doctor Frudakis feels the matter is far from over. Okay, but I don't think it means we're closer to getting a Patent issued than we were before a final rejection. It sure put more twists in the road.
We are dependant on the services of our key personel, and they ain't insured. They can leave any time they want. They may say "up yours" if the heat gets to high and stroll.
Other than that, the doors are open for two more years, and if things start to look good for DNAG, maybe many more.
Let's hope out patience is rewarded.
I didn't try to take the filing apart line by line. What I commented on is what I felt were the salient points, and how they look to me.
Stakddek
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