highly speculative STEM CELL play...
Protice Pharmaceuticals [formerly Celox Labs]
i picked up some PPMD recently on its recent drop.
this company trades on the pinks has around 4 million shares os. CEO and a few private placement investors hold the lion's share of the OS.
its currently .12 X 14
the company used to be reporting up until 2004 so you can read the last quarterly filing the company is in decent shape with little debt and was actually profitable the last quarter it reported:
ASSETS February 28,
2004 August 31,
2003
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(Unaudited)
CURRENT ASSETS
Cash and cash equivalents $ 109,698 $ 118,720
Certificates of deposit 71,500 82,746
Trade receivables 76,041 46,128
Inventories 42,667 53,028
Other 1,983 3,145
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Total current assets 301,889 303,767
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EQUIPMENT AND LEASEHOLD IMPROVEMENTS
Laboratory and production equipment 229,474 229,474
Office furniture and equipment 94,822 94,822
Leasehold improvements 138,426 138,426
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462,722 462,722
Less accumulated depreciation (447,759 ) (439,241 )
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14,963 23,481
OTHER ASSETS
Patents, net 39,560 41,316
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TOTAL ASSETS $ 356,412 $ 368,564
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See Notes to Financial Statements.
3
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PROTIDE PHARMACEUTICALS, INC.
BALANCE SHEET
LIABILITIES AND SHAREHOLDERS’ EQUITY February 28,
2004 August 31,
2003
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--------------------------------------------------------------------------------
(Unaudited)
CURRENT LIABILITIES
Accounts payable $ 14,128 $ 17,547
Accrued liabilities 30,908 29,276
Bank note payable - current 71,498 71,498
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--------------------------------------------------------------------------------
Total current liabilities 116,534 118,321
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SHAREHOLDERS’ EQUITY
Common stock issued and outstanding 40,291 40,291
Additional paid-in capital 5,832,291 5,832,291
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5,872,582 5,872,582
Accumulated deficit (5,632,704 ) (5,622,339 )
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Total shareholders’ equity 239,878 250,243
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TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 356,412 $ 368,564
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See Notes to Financial Statements.
4
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PROTIDE PHARMACEUTICALS, INC.
STATEMENT OF OPERATIONS
(Unaudited)
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Three months ended
February 28, Six months ended
February 28,
2004 2003 2004 2003
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Revenues
Net sales $ 170,197 $ 160,897 $ 282,544 $ 282,057
Cost of products sold 29,328 26,939 59,258 61,987
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Gross Margin 140,869 133,958 223,286 220,070
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Operating Expenses
Research and development 37,644 37,670 73,050 73,121
Sales and operations 30,403 27,849 57,956 56,489
Administration 48,062 51,673 102,524 110,673
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Total operating expenses 116,109 117,192 233,530 240,283
Operating Income (Loss) 24,760 16,766 (10,244 ) (20,213 )
Other Income (Expense)
Interest and investment income 610 848 1,301 1,807
Other income 0 0 0 0
Interest expense (707 ) (731 ) (1,422 ) (1,462 )
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Total other income, net (97 ) 117 (121 ) 345
Net Income (Loss) $ 24,663 $ 16,883 ($ 10,365 ) ($ 19,868 )
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Basic and diluted loss per
common share $ 0.01 $ 0.00 ($ 0.00 ) ($ 0.00 )
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Weighted average number of
common shares outstanding 4,029,134 4,029,134 4,029,134 4,029,134
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its lackluster website is here: protidepharma.com
at its current ask of 14 cents its selling at about ix 2004 sales. hope to be able to report more current sales figures soon.
Lazarus |
