Replies to post #5924 on DNAprint Genomics (DNAG)

[Manti]

Just a thought on the PP: Tony has stated that $$ is NOT a problem, a couple of times, but he did indicate that there would be funding both from a financial institution and from private parties. Now let's suppose that he's got private parties already lined up for the full $8,000,000, and he were to go ahead and do it without giving the longtime share holders the opportunity to join in the action. Would this not be construed to be unfair by those left out? Could it lead to a lawsuit? Could this be what is happening, rather than the assumption that the "financial institution" funding fell through? Just testing my rose-colored glasses for a few minutes...

[worktoplay]

frog...The document states that "the initial conversion price was calculated as of the date of this Memorandum. The Conversion Price is currently $0.061 per share, where it shall remain unless lowered at the next reset date."

That means that this was executed at a time in the recent past when the preceding 20 day moving average share price was 0.072. I understand from someone who e-mailed Athena today, that Round I of the placement is scheduled for completion by October 1, 2003 (only two weeks from today). If required, a second round would complete by November 1, 2003. Based on that, I'd say this has been in the works since July or August some time.

Actually, I believe this has been planned for much longer. I think I now understand what Dr. Frudakis was referring to when he made this statement in the January Newsletter:

How much could the warrants plan net the company? It would seem quite optimistic to expect this plan to bring more than $1M to the company, but if the increase in shares is approved, the shares will be available to bring much more. What would DNAPrint be worth if we had $10M in the bank?

Hhhhhmmmmm...$8M private placement coupled with $2M warrants to PP holders = $10M

Later,
W2P