Replies to post #57276 on DNAprint Genomics (DNAG)

[johnnyfiber]

Fog,

The EPO has a potential to generate $10 Billion a year. If it doesn't work it will generate $0.

"Value" is what somebody is willing to pay.

Here is what we paid:


We entered into a license agreement with Beth Israel for EPO. In exchange for the license, we agreed to make certain milestone payments linked to their progress in developing marketable products from the licensed technology. The total of payments, if all milestones are reached, is $2,150,000. The milestone payments are nonrefundable. Up to $200,000 of this amount is creditable against future royalties. In addition to the milestone payments, we must also pay Beth Israel an annual royalty of 4% of the net sales of all products developed from the licensed technology. A minimum royalty payment of $100,000 a year is due upon the commencement of commercial sales in any territory worldwide.


We entered into a consulting agreement with Dr. Arthur Sytkowski, the Director of Beth Israel, to consult on the EPO project. In exchange for the services, we will pay Dr. Sytkowski $10,000 a month, five annual incentive payments of $25,000 each, and certain milestone payments totaling $125,000 linked to our progress under the Beth Israel license in developing marketable products from the licensed EPO technology. The milestone payments will be reduced - dollar for dollar - to the extent Dr. Sytkowski receives payments from Beth Israel relating to the same milestone events under the Beth Israel license.


During late March 2006, we entered into a service agreement with KBI BioPharma for services to be provided totaling $2,840,000 of which $576,000 has been paid. KBI will provide us services for the production development of EPO.


During July 2006, we entered into a collaborative research agreement with Beth Israel to provide four researchers to us to conduct certain research work related to our EPO research. This project will cost approximately $600,000.

http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=4757816&Type=HTML

[johnnyfiber]

Frog, your pond has been drained:

PT-401 is more potent and longer acting drug than EPO. DNAPrint™ is developing the drug as a Theranostic product, with a genomic test for assessing patient compatibility prior to administration.

Alot of concern about the effects of EPO drug. Of course, DNAG will have a genomic test to accompany Pt-401.

What value would you place on that?


FDA Panel Scrutinizes Safetyof Anti-Anemia DrugsFile Format: PDF/Adobe Acrobat
FDA Panel Scrutinizes Safetyof Anti-Anemia Drugs. clots)—in the erythropoietin-treated. group. At the May meeting of the FDA’s. Oncologic Drugs Advisory ...
jncicancerspectrum.oxfordjournals.org/cgi/reprint/jnci;96/14/10

http://jnci.oxfordjournals.org/cgi/reprint/jnci%3b96/14/1061.pdf

[johnnyfiber]

By the way foggy, I got bored splitting warts with you over the directors of this company being indemnified. You obviously don't deal with lawyers much.

Why don't you sink those green gums into something juicy like this: Please don't make me do your job for you.

We continue to fund our operations and research and development through the notes payable proceeds we receive from Dutchess. On March 6, 2006, we issued to Dutchess a promissory note in the amount of $1,500,000 for a purchase price of $1,200,000. The note is due and payable in full on March 6, 2007. Other than the $300,000 discount inherent in the purchase price, the note is non-interest-bearing. The note will be repaid using the proceeds of each put notice delivered by us to Dutchess under the September 2004 Investment Agreement.


On April 17, 2006, we issued to Dutchess a promissory note in the amount of $1,470,000 for a purchase price of $1,175,000. The note is due and payable in full on April 17, 2007. Other than the $295,000 discount inherent in the purchase price, the note is non-interest-bearing. The note will be repaid using the proceeds of each put notice delivered by us to Dutchess under the September 2004 Investment Agreement.


On May 18, 2006, we issued to Dutchess a promissory note in the amount of $1,300,000 for a purchase price of $1,000,000. The note is due and payable in full on May 18, 2007. Other than the $300,000 discount inherent in the purchase price, the note is non-interest-bearing. The note will be repaid using the proceeds of each put notice delivered by us to Dutchess under the September 2004 Investment Agreement.


On June 30, 2006, we issued to Dutchess a promissory note in the amount of $1,495,000 for a purchase price of $1,150,000. The note is due and payable in full on June 29, 2007. Other than the $345,000 discount inherent in the purchase price, the note is non-interest-bearing. The note will be repaid using the proceeds of each put notice delivered by us to Dutchess under the September 2004 Investment Agreement

[Gcbr]

funny little frog