Replies to post #8297 on Calypte Biomedical Corp (fka CBMC)

[Scheilko]

it is unbelievably, it actually works again.
strong buy (:

[bloodhound99]

Finally a move in the right direction

of course there is still the fact that Calypte strongarmed all the independent directors out in September and the extended "delay" on timely filing of third quarter 10Q.

Calypte Biomedical Corporation (the “Registrant”) is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 on a timely basis. The delay in making this filing is due to several factors. Due to its limited financial resources and thin staffing, the Registrant is particularly vulnerable to unforeseen delays in the preparation of its financial statements and periodic reports. In particular, the Registrant has often experienced delays in obtaining information from its Chinese subsidiaries necessary to complete its financial disclosures included in its periodic reports, as is occurring with respect to the most recent fiscal quarter. In addition, because the Registrant has been late in filing its recent reports beginning with its Form 10-K for the year ended December 31, 2008, its finance staff have been required to devote their attention to completing those reports at a time when they would otherwise be preparing the disclosures for the next required periodic report; the Registrant’s previous Form 10-Q, which was due on August 31, 2009, was not filed until October 8, 2009. Finally, the Registrant has received a comment letter from the Securities and Exchange Commission (the “Commission”) dated July 16, 2009 regarding the Registrant’s application of certain accounting policies to its treatment of long term assets and stock options in its audited consolidated financial statements for the fiscal year ended December 31, 2008; in preparing its response to the Commission’s comments, the Registrant has been required to divert resources from the preparation of its Form 10-Q.

As of this time, the Registrant expects to file its Form 10-Q in early to mid-December.


Wonder how the legal action agains Sedia and foremer CEO Gale and Chief Science Officer Ron Mink and other former employees is going.