ADOT looks like it is primed and ready for takeoff
RESULTS OF CONTINUING OPERATIONS
As of March 31, 2005, The Company had a marketable securities portfolio valued at $1,935,050. The Companies' combined monthly burn-rate is approximately $215,000. This represents approximately nine months of operating funds. However, the impending offering of Biomoda stock may net as much as $18,000,000. Management expects the proceeds of this offering to help defray any cash shortfall. The Company is actively pursuing potential financing options as it looks to secure additional funds to both stabilize and grow its business operations. Management will review any financing options at its disposal and will judge each potential source of funds on its individual merits. There can be no assurance that the Company will be able to secure additional funds from debt or equity financing, or if they can, that it will be on terms favorable to the Company or existing stockholders.
The Company is currently in the process of final assembly, test and system integration of approximately 1500 of its display subassemblies. This will create a 2 meter by 3 meter display. It is anticipated that this work can be completed in the third quarter of 2005. The company currently employs four full-time electronic technicians and a supervisor working specifically on this project. Additional research and development is anticipated and planned in electrical and mechanical realms. These include but are not limited to: power systems and distribution, heat dissipation, and weatherproofing.
The Company expects its display product to be finalized and ready for market in the fourth quarter of 2005.
There are no expected sales of significant equipment.
The Company hired a full time controller in 2005 in order to support our efforts in meeting new reporting requirements. The Company has hired two additional technicians in 2005. There are no explicit plans to hire additional personnel at this time but, from time to time, the Company expects to hire additional personnel in order to carry out its business strategy. |
