re: Ann: Non-Renounceable Pro-Rata Rights Iss...
The sales for BioA have increased 4 fold over the last year and getting stronger. We will raise $2 million from the new contribs in Dec we will raised another $2 million from the existing contribs in Feb. This money will be used to keep everything running and everyone employed over the next 3 months. It could also be used to make an acquisition or two. SLA have an eye on a few small companies in Russia which could be of benefit to us. The Russian Dept of health want us to demonstrate that we can provide 3000 courses per month and for good reason. I have no idea why we weren't informed about this earlier but there it is. We have a product that the hospitals want now and we can supply now if not for this road block which should be met in Dec. I know Denis said no more road blocks so either they expected 3000 courses to be achieved earlier or they didn't know about it until more recently. The directors don't seem fussed by these delays and as they told us at the meeting we are building a company that will have a strong future and as much as everyone wants things done now time has to be taken to get it right not rush it through and mistakes made in doing so. Once we get the green light the demand is there.
SLA Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
