Lescarden, Inc. (fka LCAR)

[e-ore]

Based on their recent history LCAR is, imo, fairly valued now at .03. Now that their supply problems have been corrected I expect, within a few months, a return to their condition of a few years ago when they were worth .15. Their products:
http://www.catrix.com/home/index.htm

My interest in LCAR does not stem from now or the past but the future. Specifically, the chairman of the board paying $200,000 (via the purchase of common shares) specifically for the company's purchase of inventory. This is very, very friendly financing, as opposed to a promissory note, convertible debenture, or other possibly toxic financing from outsiders (Mr. Maxwell now owns over 60% of the outstanding stock). Why would a company need to more than triple their inventory level unless they were anticipating a robust growth in sales?

Reading their 10k filings from the last few years shows the promise that their products may provide, based on their own and other independent studies and trials. They have had limited success with market penetration but have a good base of repeat customers, mostly physicians in Asia.

Revenue growth could be coming from many sources. But there's a chance that new things could happen, specifically (from a 2010 study):

"The following have been reported from preclinical studies of the effect of powdered cartilage on cancer cells in vitro (outside of the body):
•In a published laboratory study, a powdered form of bovine cartilage called Catrix slowed the growth of human cancer cells by half or more. It is not clear if Catrix had this effect only on cancer cells, because its effect the growth of normal cells was not tested. It is also not known if the dose used in the laboratory study could safely be used in people."
http://www.cancer.gov/cancertopics/pdq/cam/cartilage/patient/page2

Success with their products in the field of cancer treatment would certainly be a game-changer for them. I consider that a pipe dream until I see further proof, but based on the company being, imo, "real," I'm willing to sit and wait on it. Meanwhile I do expect significant growth in sales of their regular products to be reported in the next 10q (Jan 2013).

Other reasons I like LCAR

Never been promoted
No toxic financing
No bagholders