BioPulse forms subsidiary for nutritional aids ;0)
The San Diego Union - Tribune; San Diego, Calif.; Aug 2, 2001;
Troubled Chula Vista-based BioPulse International said yesterday that it has
formed a wholly owned subsidiary called Contiquity Labs to focus on
nutritional supplements.
The company also announced that Complesys, another BioPulse subsidiary,
has expanded its work in TK1 monoclonal antibodies. A slide stain using the
TK1 antibodies may be used in examining biopsies for the presence of cancer,
the company said.
BioPulse said Complesys is developing TK1 screening and diagnostic tests.
During the quarter ended Jan. 31, 2001, the company acquired a license to
TK1 diagnostic technology from Brigham Young University.
BioPulse said it formed Contiquity Labs to license, develop and market
nutritional products based on traditional health products from around the
globe.
In June, Mexican authorities banned alternative cancer treatments at
BioPulse's clinic in Tijuana. Patients paid more than $27,000 a month for
therapy that included insulin-induced comas and vaccines derived from a
patient's own urine.
BioPulse also said yesterday that it got an additional $500,000 in debt
financing from an unidentified shareholder. In connection with that deal, the
company issued 2 million restricted shares of common stock to
Connecticut-based Kauser Partners in return for a release of certain accrued
penalties and conversion rights.
Kauser had the right to $1 million worth of restricted shares for a penny a
share. It gave up those rights for the additional shares, according to Reid Jilek,
BioPulse chief executive.
For that quarter, the company lost 14 cents a share, compared with a profit of
6 cents a share for the same period a year earlier.
BioPulse stock peaked at $100 in April 1998. Yesterday it closed at 33
cents.
Credit: UNION-TRIBUNE |
