Mingwan: I've inserted the corrections in Parentheses immediately following, and included only those sections with corrections. For this size document, it is quite well done. (Far better than most professionally done pr's)
1.a) In the 10K the company stated that it plans to move from its current 7,000 square foot building to a new 20,000 square foot building at a cost of approximately $1,000,000. DNAP has 12 full-time employees as per the last 10K and not much equipment. Can you explain why the additional space if (is) needed and confirm the timescale (timetable)?
1.b) Does the company intend to relocate to the new research facility being constructed at the USF, as indicated by having signed a letter of intent to do so? If not, has the company selected alternative premises? What is the timescale (timetable) to finalize this decision and move to the new location? Will the existing offices at Cocoanut Avenue be retained?
1.g) Early in the companies(company's) history there was much discussion of the Orchid option agreement. It was described as a six month window of opportunity in which Orchid could obtain the exclusive rights to the first completed product. Mention was made in newsletters that the terms of the option created some hesitation on the part of potential partners/customers as they did not wish to lose their negotiated rights should Orchid chose (choose) to exercise their option. Since then we have heard that the rights to the option have transferred to Beckman and there has been very little said in regards to it lately. Does the option still exist? If not, what completed product was used to trigger the six month window and in what time frame did it occur? If it still exists, what are the ramifications in terms of any approaching project completions? Since Ancestry and DNAWitness were developed under different circumstances we are under the impression that the option agreement does not apply to them, is that a correct assumption?
1.p) Are there are () other current or pending legal actions involving the company?
7.a) The two major products in the market today are AncestryByDNA (ABD) and DNAWitness. We have heard positive things about both. Since the two products have been on the market for a number of months now can you share any market analysis that you have obtained.(?) We have heard some fairly large estimates for the size of the market for DNA testing as it relates to the forensic space, but those estimates include such unrelated to DNAWitness categories as CODIS testing of convicted felons and backlogged rape kits. Do you have any market analysis that focuses on the specific number of applications available for the DNAWitness product? What is your projection for the growth curve for ABD, is it still growing, at what rate? Is the curve showing signs of exponential growth, linear growth or is it flattening out?
9.f) What is the nature of the relationship with Moffitt? Equal partners, both sharing in the costs of resources and materials of the various projects and then sharing equally in the resulting assets? Is DNAP acting as a service provider to Moffitt, being paid for their services and their expertise, but then Moffitt is the owner of any assets developed from the project.(?)
10.d) Approximately one year ago Dr. Frudakis stated in the TWST interview, that DNAP needed to get off the OTCBB and to the NASDAQ. He also stated that it would happen via a couple (of)dramatic steps rather than several little changes. Have any of the "dramatic" steps taken place yet? If they have, can you identify the dramatic step? If not, can you give us an indication of what a “dramatic step” might entail?
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