MultiCell Technologies, Inc. Message Board

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Biotech / Medical : MultiCell Technologies, Inc.

MCET 0.00001000

0.0%

Nov 7 9:30 AM EST

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To: Shawn Donahue who wrote (47)	5/4/2005 11:48:40 PM
From: EACarl	Read Replies (1) of 237

Shawn, obviously the reverse split is not a positive, however I don't see it as the biggest problem with MUCL. As you follow the company I'm sure you are aware of the last "Q" report and the bombshell within................ "The Company has elected not to recognize revenue based on the $2.1 million minimum royalty amount for the current fiscal year, as the agreement requires such minimums to be paid by XenoTech as a condition of their exclusivity. As XenoTech could elect not to pay this amount and thereby lose exclusivity, the Company has not recognized revenues based on the minimum royalties. To date XenoTech's revenues have not approached the level required to meet the minimum royalty payments as defined in the agreement. It is the Company's belief that the collectibility of such minimum amount is not reasonably assured." The worst part of it being.............. "It is the Company's belief that the collectibility of such minimum amount is not reasonably assured." Given the facts that: 1. the Xenotech contract (and more importantly the money linked to it) was the single most important event to MUCL and now seems to be in jeopardy...... 2. Around 30 Large Pharmas were said to be in 90 day evaluations with the cells at last years shareholder meeting (almost 1 full year ago), and there is only 1 paying customer, Don't you think those are more than serious concerns? Regards, Eric.

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