ALZM - Agreement with Organ Transport Systems rescinded. 8k filed today. I wish Mr. Gelmon would elaborate on what I've highlighted below:
"Our acquisition of OTS was rescinded and the transaction was reversed for a number of business reasons, including:
1.The significant amount of additional capital (up to $10 million) that it is estimated will be required to develop the OTS technology for market introduction, and the significant period of time (up to three years) that may be required to complete the development phase and obtain FDA clearance for the device developed with the technology; 2.The difficulty in the current economic climate in raising considerable capital for untested, although promising, medical device technology, with reasonable dilution; 3.The detriment to other promising medical technologies we have already acquired or are in the process of acquiring and developing. 4.The drop in the market price of our common stock due to factors unrelated to our operations or activities. 5.Limited manpower available to fully develop the technology and the considerable cost to develop the manpower necessary to undertake the development. 6.The lost opportunity cost from acquisitions of other medical device or medical business opportunities offered to us which we might have to decline if most of our resources are devoted solely to the OTS technology."