SEC filing looks good. A couple of passages follows:
Changes in Financial Conditions
The Company sold 4,895,077 shares of its common stock. The Company's net proceeds from the sales of common stock were $808,450. The average selling price for the common stock was $0.165 per share. (This looks familiar!)
Advanced Optics Electronics, Inc. currently has a Regulation D (filed 3/31/98)in effect and plans to raise approximately $1,000,000 over the next twelve months. These funds will be used to complete the remaining research and development, purchase the additional equipment for production, set up the equipment, and obtain additional technicians and marketing personnel.
Results of Operations
In October 1997, Advanced Optics Electronics, Inc. executed a contract to supply large-scale display panels to a customer for approximately $1,700,000. The contract is anticipated to be complete by December 1998.
OR elsewhere in the filing...
The Company has entered a contract to produce flat panel displays for an outdoor advertising billboard. The amount of the contract is for $ 1.7 million dollars. Management estimates that the contract will be completed by November of 1998.
OR even elsewhere in the filing...
Advanced Optics Electronics, Inc. generated $72,000 in revenue during the three months ended March 31, 1998 as a result of continued work on the contract. The Company's anticipated completion date for the contract is March 1999.
Comment: Pick a date any date will do. Things that make me say hmmmmm!
Overall I'm glad the Biomoda deal is working out, as it may delay the need for following through on the Reg D. Also, we now have "audited" financials, not those quasi ones on ADOT's web site (they don't match the 10SB anyway). All in all we shareholders (all 240 of us or so according to the 10SB) may be in on the ground floor of a great long-term opportunity.
Side-note: What is not contained in this filing (only because Biomoda is a private company) is how much of ADOT, Biomoda owns? Call it a hunch, but a piece of this story still seems to be missing (maybe I'm paranoid?). ;>)
Wink |
