Replies to post #28167 on Ocata Therapeutics Inc fka OCAT

[interstate]

Yes they get it at a discount... they make 35% right off the top agreed. But it is much better then what we have gotten in the past. Do you know how many shares they would get if the average weighted price was .1937?

[gabbyco]

With all due respect-

The end result-ACT expects to end the year with approximately $15 million in cash and equivalents, and less than $1 million of debt. The Company recently strengthened its balance sheet by selling 750 shares of non-convertible Series B Preferred Stock to Optimus Life Sciences Capital Partners, LLC under a previously announced $10 million Preferred Stock transaction. ACT also eliminated more than $10 million of indebtedness through conversions and settled more than $10 million of other liabilities.

“The Company enters 2011 in its strongest financial position ever,” said Gary Rabin, ACT’s Interim Chairman and CEO. “Through a combination of the cash on hand and ability to sell Socius additional Preferred Stock, we believe we have the financial resources to take our lead program in Stargardt’s Disease, a form of juvenile macular degeneration, well into clinical development and to move our program for treating Dry Age-Related Macular Degeneration through the clinic if we receive FDA clearance. Less than one year ago, the Company was significantly in debt and lacked the financial resources to take even one program through the clinic. Today, we are essentially debt-free and have the financial ability to move both of our promising programs through the clinic. We believe 2011 will be a year filled with exciting developments as we begin to get data from these programs.”