Replies to post #58910 on DNAprint Genomics (DNAG)

[frogdreaming]

work to P, Simple enough.

OK, you're the CEO that just orchestrated this series of events. You clearly were about to have the cash to pay Bookbinder, Sytkowski and the attorney. Why did you change the agreements if you had the cash? Why did you sell the Biofrontera shares?

I chose to give them shares instead of cash, even though I had to give them a large premium to take them, because shares are free and don't cost me anything. I chose to keep as much of the cash in hand as I possibly could. Other people can be talked into taking their cut in shares, but I can't. Why did I sell the Biofrontera shares? Because I was able to get around the restrictions and get my hands on the cash, what fool wouldn't? Cash in the hand at this time in the company's life is a lot easier to control than non-liquid assets would be, if push comes to shove.

regards,
CEO (LOL)

[johnnyfiber]

w2play, from 10qsb. In light of recent events I'll consider this extremely positive. Any recapitalization of the company would certainly demand anti-dilution measures be put in place.

During 2006, we converted all of our remaining preferred stock outstanding to common stock at a fair market value of $235,366 and reduced our derivative liabilities by $189,042 which resulted in us recording a loss on derivative liabilities of $46,324.

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

[johnnyfiber]

w2ply, was this in the podcast or powerpoint links. I can't open them? TIA

DNAPrint attends December 2006 Venture Capital event seeking capital for DNAPrint Pharmaceuticals. At the end of the presentation Gomez and Gabriel tell the audience they are looking for $10,000,000 and believe that would appreciate to $86,000,000 in the next twelve months.



http://www.starlightcapital.com/private-equity-events/agenda/