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Biotech / Medical : Biotech Valuation
CRSP 50.19+1.8%Nov 21 9:30 AM EST
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To: Russ B who wrote (5458)1/20/2002 10:58:04 AM
From: Zeev Hed   of 52153
 
Russ, the "only" problem with DNAP is that the have only $20,000 or so in the kitty (according to the last balance sheet I could get). Right now they have about 400 MM shares outstanding, but authorized max is 500 MM, but to finance even their modest cash burn of about $2 MM/year, they will have to "print" at least 200 MM shares. They will have to rapidly raise the number of authorized shares, probably have to do a 100:1 reverse split, and until then, it looks like a situation of never ending dilution. I would wait until their is more clarity as to their financial survival before considering entering these murky waters.

Zeev
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