Lee...I will look into your other statement on the Bollman Molecular issue..Keep in mind...they are still a startup company getting out of R&D since beginning of year....This doesn't happen overnight...but regarding your statement about "continue red ink"...I don't see anywhere in their last quarter announcement that they had red ink. I've talked to Peggy and they are trying to resolve the issue of the last litigation out of court. Where did you hear that it's draining the company. That's a pretty strong statement. So right now there shouldn't be anything really major to be concern about. But if you know something concrete I would appreciate it if you would let us know so it can be addressed also. Here is the April announcement of their last quarter earnings. Surely, nothing spectacular but not "red" ink.
IMMUDYNE ANNOUNCES “ALMOST A MILLION DOLLAR QUARTER”
Houston, TX, April 10, 1996 -- ImmuDyne (symbol IMMD) announced $959,053 in sales for the second quarter ending February 29, 1996. This is a 71% increase in sales over the same quarter of the prior year. Year to date sales for the first six months of $1,660,753 are a 57% increase over prior year.
ImmuDyne recorded a $15,222 profit in the second quarter despite the reorganization cost involved in advertising, promotion, and hiring qualified executives to head up its four marketing divisions of Human Nutrition, Companion Animal Health and Nutrition, Skin Care and Aquaculture, as well as continuing legal costs. A year to date profit of $109,884 compares to a loss of $328,064 in the prior year.
The new added emphasis on each of the major markets of Human Nutrition, Companion Animal Health and Nutrition, Skin Care and Aquaculture will be very important to future growth. The establishment of separate divisions enhances ImmuDyne’s opportunities and ability to utilize its licensed technology to develop and grow in each of these distinct markets, as well as the future potential to create individual businesses. Each divisional vice president has been assigned the responsibility of business development through new product introduction and marketing, including potential joint marketing and sub-licensing and, as the business grows, possible joint ventures and acquisitions.
ImmuDyne Inc. is listed on the NASD Automated Bulletin Board with the symbol IMMD.
ImmuDyne, Inc. is a Texas-based biotechnology company specializing in macrophage technology. It has patented Immune Stimulation or Biological Response Modification technology relating to immune system stimulants for pharmaceutical, cosmetic, nutritional, veterinary and agricultural use. ImmuDyne, Inc., maintains offices in Houston, Texas and Palo Alto, California. For additional information, contact Margaret Dreyfus, Investor Relations, at (415) 949-3864. |
