Hi Don: Cyanotech Corp. would be a likely buyout candidate, as they worked together a few years ago to develop and market a microalgae, astaxanthin, in an enclosed system. Aquasearch holds the patent for this system. The only problem I see is that while Cyanotech continues to build, grow and increase profits, AQSE seems to only sell stock. They have had several private offerings in the last year, the last one was Dec. '95 for 4 million shares at $0.15 (fifteen cents). Astaxanthin is microalgae that is in demand as a poultry food additive, (better eggs) and more importantly, a fish food for salmon, that naturally colors the meat pink, without the use of dyes. Very valuble in Asia where many places have outlawed such additives. It is estimated to be a $100 to $200 million market. However, based on the size of AQSE (very small) located next door to CYAN, I can't see how anything short of a buyout or merger could possibly be of any significance. Maybe a lease of their enclosed system or licence?
I would like to know if someone else has any thoughts on it as it is curious. I just heard from a buddy here in the islands that they are having a meeting tomorrow at a local, Hawaiian brokerage on Bishop Street and the public is invited. Maybe I'll go and E-Mail you what happened..... Terry............................. |
