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Microcap & Penny Stocks : IGNE Igene Biotechnology -- Ignore unavailable to you. Want to Upgrade?

To: JSB who wrote (145)	4/13/2000 7:25:00 PM
From: IEarnedIt	Respond to of 209

Well they've spent almost 1M so far defending themselves on this thing. So I guess that means they have at least a million reasons to hang in there. The way I see it is, guess I do too. <gg> :-) JD

To: JSB who wrote (145)	4/17/2000 12:11:00 PM
From: IEarnedIt	Read Replies (1) \| Respond to of 209

IGNE Sharehold update from their website <<http://www.igene.com/Update.htm>> <<IGENE UPDATES SHAREHOLDERS (4/17/2000) April 17, 2000 Dear Shareholder: We are pleased to report to you that in the last year, Igene has truly begun the transition from being a Research and Development company to a commercial enterprise with real products. Due to the persistence of the entire Igene team, our Company has made great progress in every aspect of its business: research, manufacturing and sales. In 1999, Igene began probably the largest commercial fish feeding study in the world using its natural astaxanthin product, AstaXin©. This study, which made use of a newly developed proprietary strain of yeast developed by Igene in 1998, was conducted with more than a half million salmon and trout and was performed in cooperation with a dozen Chilean fish producers. Those testing the product believe the results obtained thus far confirm that Igene?s natural product for pigmentation of farm-raised salmon and trout is comparable, if not superior, to the synthetic product that currently dominates that market. Due to the highly positive documented results obtained, the companies which have completed their initial study have begun to expand their usage of our product in their fish feed. This resulted in revenue during the fourth quarter of 1999 of approximately $18,000, which continued in the first quarter of 2000 at approximately $78,000. It now appears that our second quarter sales will be at least double that of the first quarter. As additional companies complete their trials we are cautiously optimistic that our sales will continue to grow. To support the Company?s growing business in Chile, Igene completed last week the establishment of Igene Chile Comercial, Ltda., a Chilean subsidiary based in Puerto Montt, Chile. Since 1999, Igene has maintained a local office in Chile and has hired a full time technical representative, who together with Igene staff traveling from Columbia, Maryland have provided technical and sales support to our customers in Chile. This technical support was instrumental in creating sales. Once the customers were knowledgable about our product, they were willing to try it, and once they saw the results they were willing to purchase it. Consequently, the Company intends to continue and expand its technical service and has recently added a veterinarian specializing in aquatic health to its technical staff in Chile. To complement the fish feeding studies in Chile, we also report the preliminary findings of an independent study conducted by Akvaforsk in Norway. This highly regarded aquaculture research facility has shown the efficiency of Igene?s proprietary enzyme technology for making natural astaxanthin 98% bioavailable to salmon and trout, while other competitors' processes are less than half as effective. In addition, the stability of the product through the commercial feed production process was confirmed. These successful results and the beginning of product sales in Chile have prompted Igene and its manufacturing partner to negotiate a new agreement to make available additional manufacturing capacity. The Company is capable of tripling capacity within three months, if necessary, and to nine fold within a year. At Igene?s Research and Development Center and pilot plant in Maryland, we continue to make significant improvements in the strain and manufacturing process. These improvements have resulted in reductions in our cost of manufacture and an overall increase in product yields. It is anticipated that by operating at maximum efficiency at our manufacturing plant in Mexico City and by successfully implementing improvements developed in our pilot plant, the Company will be able to produce a natural astaxanthin product which is significantly more efficient in its pigmenting ability and less expensive to manufacture. With the approval of the Canadian government this past year for the use of Igene?s natural astaxanthin product in fish feeds, the potential for additional market opportunities has increased. The Company continues to actively pursue registration and approvals for its product in the European Union. In January 2000, the Company hired a marketing consultant to begin the development of a marketing plan for the production and sale of a dietary supplement containing Igene?s natural astaxanthin product. Published data has already indicated that astaxanthin is several hundred times more potent as an antioxidant than vitamin E. By utilizing and adapting Igene?s technology developed for its fish pigmentation product, Igene may be able to expand into this new market with a natural astaxanthin supplement. All of the above would not have been accomplished except for the continuing dedication and technical expertise of Igene?s employees both in Maryland and in Chile, the guidance of our Board of Directors, and the incredible financial loyalty of Thomas Kempner and Sidney Knafel of our Board. Sincerely, Michael G. Kimelman Chairman Stephen F. Hiu, Ph.D. President SAFE HARBOR?Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, changes in sales levels to our largest customers, weather patterns, risks associated with the acceptance of new products, competition, and other factors more fully detailed in the Company's recent quarterly 10-QSB and annual 10-KSB filings with the Securities and Exchange Commission. >> Nice :-) JD