Replies to post #38612 on Cytogenix (fka CYGX)

[Kristofer]

I wonder if Frost Bank is directly related to Frost & Sullivan.
Was the bank note some sort of payment for the Technology Innovation Award for synDNA(TM)?

[david02835]

Arnold, the loan is a compensating balance arrangement with a lien on the equipment and, probably, with the personal signature of someone who will pay if the company doesn't. The possibility that someone would sign a note backing the company is a good sign; the fact that they didn't have $80K says more. By the way, how do you have such information which is usually held close to the vest? Take care.

[gutaquest]

arnold, Do you think this $80K debt financing is for a second synDNA module, financing of the first unit or for other capital equipment?

Just guessing, I would put a second unit at Aldevron for cGMP production and keep one unit for R&D and miscelleous production at CYGX.

Gutaquest