Replies to post #2 on PLFL - Iceberg Acquisition Corporation (fka PLFL)

[bbgold]

Sounds like interesting technology
Precise Life Sciences Issues Company Profile
WEDNESDAY, NOVEMBER 20, 2002 8:02 AM
- BusinessWire

VANCOUVER, British Columbia, Nov 20, 2002 (BUSINESS WIRE) -- In response to numerous inquiries, Precise Life Sciences Ltd. (PSLF) today issued a corporate profile describing the company and its unique technology. Text of the profile follows:

Precise Life Sciences Ltd. is a public company based in Canada that has developed and is preparing to market internationally a unique DNA-based system for identifying and tracking cattle and other animals. The technology makes it possible to trace illness-causing meat from the consumer's plate all the way back through the retailer, wholesaler and processor to the farm from whence it came.

Had this system been available in Great Britain when the recent mad cow disease was first discovered, the source could have been identified and isolated within hours and the destruction of hundreds of thousands of cattle would not have been necessary. Outbreaks of e-coli and similar infections, now increasing in frequency, could be quickly tracked and eliminated with the PLS system.

Governments are now moving toward actions which seek to guarantee safety of beef products. Leading is the European Union which already has instituted a program mandating that all imported beef products must be covered by a tracking system such as PLS will be offering. Brazil, Argentina, Australia and other current exporters of beef to Europe are immediately affected. Several South American agricultural ministries also are setting new standards for beef.

With the PLS system, a "Genetic Registry" of all cattle from participating farms will be created and maintained by the company for future reference. Each farm operating with the PLS system will be certified as such and have a tracking system in place, giving them a distinct marketing advantage.

The PLS DNA Identification & Tracking System


When a farm adopts the PLS program, a blood or hair sample is taken from every cow and sent to a participating DNA laboratory for analysis, the results of which are e-mailed to the PLS data bank for long-term retention. For positive identification, the farmer also implants a microcircuit the size of a grain of rice under the skin or attaches a barcode onto the cow's ear, each containing all pertinent data. Since every bit of meat from that animal contains the same DNA, any contaminant it may contain can be traced immediately, thus releasing all other possible sources from suspicion in the process.

PLS's Revenue Sources


PLS will charge for the DNA sampling service on a per-head basis, sell all devices and materials used, participate in the laboratory analysis charges, charge a fee for maintenance of the data bank and also for each matching procedure required. With penetration of only one-half of one percent of the projected U.S. market for its services in the first year of full operation, the company anticipates revenues exceeding $32 million, a figure climbing steadily to $1.3 billion by 2007.

Marketing


The potential demand for PLS products and services is surprisingly large. For example, there are 350 million head of beef cows in the United States alone. Brazil has l60 million head, six million of which they have been exporting to Europe every year. They will now be barred from such shipments unless they adopt a tracking system. Thus Brazil is a prime marketing target for PLS, as are Argentina, Australia and New Zealand.

Many countries do not produce enough beef to meet growing domestic demand. Because of the beef security issue they are now looking for disease-free sources with tracking systems in place. This promises to further broaden the global markets for PLS's DNA-based system.

Cooperation from participating DNA labs in both North and South America, with many of which the company is now in contact, can aid the marketing program. Also, there is a growing opportunity among the larger cattle feeding organizations which manage, feed and market hundreds of thousands of cattle annually.

Competition


The genetic tracing of purebred animals, such as thoroughbred horses and dogs, is not new and presently done by some organizations but without the infrastructure and accuracy provided by the PLS system. Its registry is more precise and goes beyond existing quality assurance programs by carrying the animal's identity through the processor all the way to the dining table. In today's exploding growth of animal biotechnology and husbandry, PLS believes its unique system can be the leader in identification and traceability of beef and beef products.

Financial


Precise Life Sciences is the successor to the Asdar Group, a Canadian company engaged in the oil and gas business. When the DNA animal identification and tracking technology became available, the company withdrew from the petroleum field, changed its name and has since concentrated its efforts and resources on building an international business based on this unique technology. It has been and will remain a development stage concern until next year.

The company has approximately 24 million common shares outstanding, with a "float" of about 16 million shares. The stock is actively traded on the U.S. Bulletin Board Service under the symbol PSLF. Since the company has full-reporting status with the U.S. Securities and Exchange Commission, its financial results can be found on the Internet.

With development of the DNA tracking system now largely behind it, the company has scheduled a series of beta tests on a ranch in Alberta next spring as soon as weather permits. Aggressive marketing in both the Americas will begin as soon as these "trial runs" are completed.

Precise Life Sciences Ltd., Vancouver
Joseph Beyrouti, 604/880-7308
Fax: [phone]
or
Molesworth Associates Inc., Green Valley, Ariz.
Gordon Molesworth, 520/625-0550
Fax: [phone]




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