Cliff's Notes from conversation with Steve Sloat last night:
I had e-mailed Steve a couple of weeks ago in reference to
an article I had read on cancer research in my local paper.
He called last night, apologizing for the delay, but he's
been swamped. My thoughts are still that it's mighty nice of
a guy like this to spend time talking with an individual
investor like myself. Plus the fact that he's an interesting
fella to talk with, over and above the company/stock
perspective.
Anyway, I don't have a lot to add to the post of my previous
conversation with Steve, but it's still there for those
interested. Steve re-iterated much of this info, seems that
if anything, plans are proceeding even better than thought
just 2-3 weeks ago.
Maybe some points of interest:
CYGS is currently a non-reporting company. Steve's goal is to
change this over the coming months, as he is planning to
move CYGS to either the Philadelphia or Boston Exchange,
followed by a move in due time (when financial strength allows)
to AMEX or NASDAQ Small Cap.
Financing secured for next 12 months, to cover payroll, R & D, etc.
One patent in hand, a couple of patent apps in process.
Best guess at price movement yesterday is that 7-8 brokers
have been doing all DD possible on CYGS, some of them are
evidently excited about the prospects and buying in.
Thought to be a lot of short shares. Long-term holders (vs.
traders) can combat this by requesting stock certificates.
Estimate only = 600K shares held short. (Volume has been
tremendous for a company with only 2.8M shares in float.)
Last week's meeting with research scientists revealed that
research is ahead of schedule. I'm not a clinical psychologist
(though friends have told me that I might need to see one),
but Steve seemed genuinely excited about this. Therefore,
I am, too.
Company will have name change in next few weeks.
New name will be U.S. Biogenix, a subsidiary of CSI.
Website will be updated in the next week or so. Wishes this
had already been done, but again, they've all been swamped
with more pressing matters.
I don't know if this update will contain any new developments,
Steve did say that Board and staff info will be included.
Sounds like they've got a great team in all facets of the
business.
In addition to the big-ticket item in many minds - cancer research -
it sure sounds like the shrimp farming is going to bring in
significant $ in the future.
So what does all of this rambling add up to?
IMHO, the next few months should prove to be real interesting
(and profitable, too!!! . . . I said IMHO, remember?).
Happy holidays to all,
David |
