Replies to post #60 on Alpha Innotech Corp (APNO)

[beigledog]

Called Daryll Ray during lunch today...

Wasn't really impressed.

Alpha Innotech is basically an instrument company dealing molecular biology, biotech and pharmaceuticals industries. The company is 13 years old. Their main products are in gel documentation. Also specialize in electronic cameras for lab separations (Ex. proteins) and also do some work in medical software.

Current Share structure:

Outstanding shares: 10 million
Float (all former XTRN shares): 1.7 million
Restricted shares (from new Alpha Innotech shareholders: 8.3 million.

The merger barely passed at the shareholder's meeting (slightly more than 50% approved the merger). Daryll said the reason was that the company didn't want to spend the money to pump the proxy votings and therefore fewer people voted.

The company plans to create shareholder value by investing a lot of their time into micro arrays. They expect to grow revenues 15% this year by taking advantage of a lot of their new products (micro array).

He would not comment on any new developments. He did say that they are not interested in supporting the stock price short term. He said that they did the reverse merger in order to enter the markets to raise capital (i.e. dilution coming).

The GE deal that was signed a few months ago was a end market deal to sell APNO's products through the GE healthcare pipeline with GE's name on it. They also sell to research labs (he mentioned the FDA), universities, and biotechs (like Genentech and Amgen).

We talked about the non-existance of volume so far with the stock and I expressed some concern about this issue. I also mentioned that I had spoken with a few other stockholders and they were also concerned. When I started talking about this, I could hear a change in his voice (it almost sounded like fear). He then asked if I had spoken with Jay (I can't remember for sure, but I think this is the huge XTRN shareholder from a while ago).

I would encourage you guys to call Daryll and talk with him to get a little better understanding about the merger, the company, and to express your concerns for what is happening. Also, see what he says about the lack of volume. Maybe if we get enough support, we can change their mindset a little bit about the PRs.