actually the way i have heard the story... that is not the case.
my understanding is that the company raised money through a stock offering and came out around $8.00. I dont think it ever went much higher than that and i believe that was in the 80's
this company has been around a long time and i dont know of any hype or pump on it for the last ~13 years that i have been following it. i do recall seeing the stock around $1.5 about 10 years ago... but even in the bull market leading to the dot.com bust i dont recall the stock being much higher than 30 cents. its generally traded in the 15 to 35 cent range.... the $1.50 high mention above had to do with anticipation of getting an FDA approval on a product - viastem - a storage medium for stem cells.
what set viastem apart was that it did not contain bovine serum (cow blood).
anyway - viastem was never approved but if you look at their website you can see that they are providers of serum free stem cell storage media: protidepharma.com.
during all those years there was very little dilution. most dilution was for private placements in the $1.5 range.
you can actually read all the filings up through 2004 when theyde-registered the shares.
the last Q filed with the SEC showed just over 4 millions shares OS... and i believe that remains the same, although i havent confirmed.
in the last quarterly filing the company made in 2004 they were just beginning to show a profit
PROTIDE PHARMACEUTICALS, INC.
STATEMENT OF OPERATIONS
(Unaudited)
Three months ended
February 28, Six months ended
February 28,
2004 2003 2004 2003 Revenues
Net sales $ 170,197 $ 160,897 $ 282,544 $ 282,057 Cost of products sold 29,328 26,939 59,258 61,987
Gross Margin 140,869 133,958 223,286 220,070
Operating Expenses Research and development 37,644 37,670 73,050 73,121 Sales and operations 30,403 27,849 57,956 56,489 Administration 48,062 51,673 102,524 110,673 Total operating expenses 116,109 117,192 233,530 240,283
Operating Income (Loss) 24,760 16,766 (10,244 ) (20,213 )
Other Income (Expense) Interest and investment income 610 848 1,301 1,807 Other income 0 0 0 0 Interest expense (707 ) (731 ) (1,422 ) (1,462 ) Total other income, net (97 ) 117 (121 ) 345
Net Income (Loss) $ 24,663 $ 16,883 ($ 10,365 ) ($ 19,868 )
Basic and diluted loss per common share $ 0.01 $ 0.00 ($ 0.00 ) ($ 0.00 )
Weighted average number of common shares outstanding 4,029,134 4,029,134 4,029,134 4,029,134
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