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Biotech / Medical : GUMM - Eliminate the Common Cold
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To: Mad2 who wrote (522)4/26/1999 11:58:00 PM
From: DanZ  Read Replies (2) of 5582
 
Mad2,

Thanks for all the news. The expected growth rate in the industry looks very good for GumTech's forward fundamentals.

Here are answers to your questions about GelTech.

<Who owns the patent?>

Gel Tech LLC owns the intellectual property rights to Zicam. Since GumTech owns 60% of Gel Tech LLC, GumTech owns 60% of the intellectual property rights. Biodelivery Technologies, Inc. owns the other 40%.

<Who makes the product?>

Zicam is manufactured and packaged for Gel Tech by Botanicals, Inc.

<I guess I'm not clear on the Geltech, Gumtech, Biodelivery tech arrangement of who does and who gets what.>

Prior to the formation of Gel Tech LLC, a corporation named Gel Tech Inc. worked with GumTech to formulate Zicam. After Zicam was ready for distribution, Gel Tech Inc. changed its name to Biodelivery Technologies, Inc. and GumTech and Biodelivery Technologies formed Gel Tech LLC.

I'm sure the business relationship between GumTech and Gel Tech LLC will evolve over time. It is my understanding that Gel Tech is currently responsible for marketing and GumTech is currently responsible for distribution and contractual issues. Because GumTech is publicly held and owns the majority of Gel Tech LLC, GAAP require GumTech to account for the full amount of any losses and then account for all profits until any carryover losses are reduced to zero. Once Gel Tech is profitable, the profits will be divided 60% to GumTech and 40% to Gel Tech.

I'm not sure if this answered your questions and I'll be happy to try to answer other questions that you might have.

Dan
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