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Microcap & Penny Stocks : La Jolla Diagnostics, Inc.(OTC BB: LAJD) -- Ignore unavailable to you. Want to Upgrade?

To: GARY P GROBBEL who wrote (116)	8/4/1999 11:23:00 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 168

Checked share count. They bought a company last Sept...Am Tech, and formed and funded new subsidiary over winter. 10q for May 1999 declares on 14m and shows ttl out of 20m but the resulting changes to the capital structure along w/new division makes a lot more sense for the company...and they are beginning to get some results as we see w/today's release. More later. This from May '99 q: On September 16, 1998, the Company, through a newly formed subsidiary, DiagnosTech, Inc. (DTI), purchased the assets and technology of AmTech Scientific, Inc. (ATS), a privately held diagnostic company. These assets include a proprietary, patent pending diagnostic test for active tuberculosis (TB). The accuracy and efficacy of the TB test has been confirmed in separate clinical trials, and is currently approved for sale and distribution in several countries with approvals pending in others. Other assets acquired through ATS include a rapid diagnostic test for HIV I and II, H. Pylori, and Hepatitis B. On May 11, 1999, the Company completed a 504 Reg. D stock offering for $1 million of its subsidiary, DTI. The proceeds are being used for working capital with an emphasis on increasing manufacturing capabilities and the expansion of marketing and sales efforts related to the products acquired by DTI. RESULTS OF OPERATIONS. GENERALLY. With the formation of its subsidiary, DTI, and the funding of sufficient working capital, the Company has reorganized its operational structure. All diagnostic product operations are now the responsibility of the subsidiary, while the Company will concentrate on the nutraceutical and overthecounter (OTC) healthcare products and related technologies. To achieve these objectives, the Company has temporarily suspended sales efforts on healthcare products in order to upgrade packaging, labels, and marketing graphics prior to the reintroduction and introduction to new and larger distributors and an expanded Internet presence. In addition, the Company is beginning to see results from the licensing of proprietary technology used in the formulation of its healthcare products, with a signed letter of intent by a leading Italian pharmaceutical company. The Company believes that with its business objectives in place, and through recent and future fundings and projected revenues, the Company should be able to enact upon its future growth plan.