Hogger:
Admittedly, you only solicited questions from stockholders. However, I believe these questions are worthy of being addressed:
1. Question: Reviewing the December 31, 1998 Balance Sheet, what happened to a million dollars in professional fees and paid in capital?
Shown here:
cygs.net
Gone here:
sec.gov
2. The Company's SEC filings indicate no sales of stock (n/i the 2 for 1 exchange) in 1999. Yet, the SEC filings reveal an increase of $458 thousand to the additional paid in capital account.
Question: Did the company execute a private placement sometime between January and September 1999? Question: If so, how many shares were sold and at what price?
3. The company's SEC filings indicate cash expenditures of $580 thousand for the 1st nine months of 1999, a burn rate of $65 per month. As of September 30th, the company current assets minus current liabilities was a deficit of $42.8 thousand (28.3 - 71.1).
Adding in the aforementioned burn rate for the final three months of 1999 would imply that the company will have a cash deficit of approximately $238 thousand at the close of 1999
Question:: Has the company sold shares since October 1, 1999 to cure this implicit cash deficit.
Question:: If so, how many shares and at what price?
Question:: If so, were the shares sold free-trading Treasury shares acquired in the 2 for 1 stock swap?
Question:: If no private placement has yet been accomplished, what avenues are the company exploring to raise additional operating capital?
Question:: What is the Company's current cash position?
4. According to the Company's website:
...In April '97, CYGS acquired the rights to an expression vector (patent pending) originally designed to express ssDNA in prokaryotes (bacteria) for in vitro laboratory research purposes.
cygs.net
Yet, according to the Company's SEC filings:
...The company has acquired the exclusive rights for applications to a specialized expression vector capable of producing single stranded DNA (ssDNA) in both eukaryotes and prokaryotes....
sec.gov
There is clearly a difference between exclusive rights and rights for applications. Is this a typographical error? Please resolve the discrepancy.
5. Question: Prior to the issuance of 3.7 million shares of common stock on March 25, 1997, what was the fully-diluted total issued and outstanding shares of CYGS?
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