For the past several months there has been tremendous speculation about the advantages of adot owning biomoda stock. On Mar. 31, 1998, adot reported as income, a unrealized gain on shares of biomoda stock of $200,020.00. This on an investment of $35,191.00. The total valuation they reported was $235,211.00. This sounds terrific, but, is it realistic? Who valued the stock at that price. The accountant who made up the financials makes clear that the statements are the responsibility of adot's management. Thats a reassuring thought.
So now, adot owns 22.8% of biomoda. What happens when biomoda increases its outstanding. Biomoda states it needs 8-10M to get it through 99, and a like amount to get it through 2000. Do we believe this will come without increasing the outstanding shares? How long is adot going to continue to increase their outstanding?
If I had 10K shares of biomoda right now, what would they be worth? Who would buy them?
While I wish biomoda nothing but success, it is a start up company itself, subject to all the problems of a company with great dreams, and a small bank account.
Finally, adot, where is the 10Q? What are you trying to hide?
JMHO of course.
Blessed |
