DNAP - from RB
ragingbull.altavista.com
By: edbr $$$
Reply To: None
Monday, 11 Sep 2000 at 11:02 AM EDT
Post # of 15997
Conversations with Craig Hall
The following represents a summary of relevant information from conversations with Craig Hall, Director of
Financial Analysis, Tampa Bay Financial, between September 6-8, 2000. Craig’s phone number is 941 341-0136.
1. The company (DNAP) has current revenues through first 8 months of 2000 of approximately $150,000 or
$20,000 per month. Most of these revenues come from old technology which in their business plan materials is
listed as STR Typing which is DNA profiling, a la OJ Simpson trial. This aspect of the business and source of
revenue may be abandoned as revenues from the major source, High Throughput SNP profiling, takes off.
2. They expect revenues from SNP or SnipDoc to produce 100s of millions annually once they are fully up and
running with their new software platform. They expect this new software platform to be completed in the second
quarter of 2001. They expect revenues from this source to begin in the first quarter of 2001 but possibly before the
end of 2000. How much depends on how many solutions they have arrived at and have available to sell. They will
sell their information using an ASP model through hospitals, doctor’s offices, clinics on a monthly fee basis and to
individuals. They will establish a marketing group once the platform is complete and ready to be sold.
3. An SNP or Snip represents a change in the order of neucleotides. These minor changes in the order
predispose individuals to diseases and or negative reactions to certain drugs. Their platform is designed to
identify these Snips or SNPs. They have reached a milestone of 2000 SNPS that are medically relevant and hope
to reach 5000 by the end of the year.
4. They are moving into new quarters and a new lab from the old quarters of 2000 sq ft to 6000 square ft and are
now up to 8 employees. They have hired two new technicians. Two new doctors are joining the team, one on
September 22 and the other soon after. One of these is Dr. Kondragunta and the other is a mathematician who
will have an equity stake in the company.
5. They are also receiving a one million dollar machine for SNP high throughput processing within two weeks.
6. Software development. Craig indicated that there were no major obstacles standing in the way of being able to
complete the SNP software platform. Dr. Kim is currently working on the program. However, the SNP stream
machine that will be installed in their new facility by the end of September is necessary in order to validate the
software. Dr. Kondragunta, one of the founders of DNAPrint, a genetics mathematician, who has been finishing up
some projects at the University of Texas is arriving September 22 to begin full time work on this project
7. They are currently completing their audit and expect to have it done by Sept 18 when they will file their 10SB with
the SEC. They expect to be fully reporting and listed on the OTC BB by the time of the London Conference on
October 16th.
8. The invitation to present at the London Conference was totally unprompted by DNAPrint. The conference people
may have heard about DNAPrint through Dr. Frudakis’s former employer where he was the chief scientist when it
was only four employees. He was employed there from 1994 through 1997. That company’s symbol is CRXA.
9. When asked how much more funding was available from Tampa Bay Financials and what were the milestones
required for this funding, Craig gave the following response. There is one million more of additional seed money
available to DNAPrint contingent upon the following milestones: 1) completion of the software 2) completion of
studies and 3) identification of solutions, i.e. associations between a genotype (genetic makeup of an individual)
and a phenotype (the expressed physical trait).
10. They expect to be able to go on the Nasdaq small cap market in 12 months, i.e. next summer. They will need
to meet certain requirements for this: $4 stock price, net worth of $4,000,000 and either certain stock price or
market cap.
(Voluntary Disclosure: Position- Long) |
