Replies to post #81346 on DNAprint Genomics (DNAG)

[dgplexus]

"frogdreaming,"

That is confidential material which you are not authorized to disseminate.

How did you get that material? Did you apply for it under false pretenses, or was it leaked to you? Also, as I said, this is not the place to discuss confidential information. It will be discussed, but not here. I will not respond to such, here.

Do not post confidential material belonging to other parties.

Daniel Gannon

[frogdreaming]

So let's get back to the current investors.

The question previously put forward relates to who will own the eventual company?

The current stockholders or the new investment group.


The listing of capital expenditures includes the payment of $200,000 to Dutchess Private Equities Fund, Ltd. This is the payment as outlined in the attached term sheet between FSDLS and Dutchess. Dutchess is currently the largest creditor and totally secured by all of the assets of the corporation. The $200,000 payment is for all of the debt and lien position they have on DNAPrint. By purchasing Dutchess position FSDLS become the superior lien holder and now protect the licensing agreement between DNAPrint and FSDLS. There is also a $260,000 payment to DLA Piper, patent attorneys. This is an outstanding obligation of DNAPrint and is part of the consideration of the licensing agreement. By virtue of the having the Dutchess position FSDLS will also have a lien on all IP of DNAPrint, including patents that are in process.

Apparently Dutchess thinks that all the assets of DNAG are worth less than $200,000.

FSLDS thinks that they are worth a little more since they are going to pay the back attorney fees.

I don't see that the current investors are left with anything. If the patent rights and the Forensics are all to be traded away, what is left for them?