Below is from their latest 10-Q, and its scary:
Risks Relating to Our Early Stage of Development
We have a limited operating history on which potential investors may evaluate our operations and prospects for profitable operations. We have a limited operating history on which a potential investor may base an evaluation of us and our prospects. If we are unable to begin and sustain profitable operations, investors may lose their entire investment in us. Our human embryonic stem cell programs are in the pre-clinical stage, and our adult stem cell myoblast program has completed Phase I and Ib FDA clinical trials. Our prospects must be considered speculative in light of the risks, expenses and difficulties frequently encountered by companies in their early stages of development, particularly in light of the uncertainties relating to the new, competitive and rapidly evolving markets in which we anticipate we will operate. To attempt to address these risks, we must, among other things, further develop our technologies, products and services, successfully implement our research, development, marketing and commercialization strategies, respond to competitive developments and attract, retain and motivate qualified personnel. A substantial risk is involved in investing in us because, as an early stage company,
- we have fewer resources than an established company,
- our management may be more likely to make mistakes at such an early
- we may be more vulnerable operationally and financially to any mistakes that may be made, as well as to external factors beyond our control.
These difficulties are compounded by our heavy dependence on emerging and sometimes unproven technologies. In addition, some of our significant potential revenue sources involve ethically sensitive and controversial issues which could become the subject of legislation or regulations that could materially restrict our operations and, therefore, harm our financial condition, operating results and prospects for bringing our investors a return on their investment.
We have a history of operating losses, and we cannot assure you that we will achieve future revenues or operating profits. We have generated modest revenue to date from our operations. Historically, we have had net operating losses each year since our inception. We have limited current potential sources of revenue from license fees and product development revenues, and we cannot assure you that we will be able to develop such revenue sources or that our operations will . . .
Any stock on the NASDAQ Pink sheets (BB) or on NASDAQ CM will have a similar disclaimer as that is how you shield yourself from lawsuits-something we are familiar with as it is. The whole purpose is to put every disaster circumstance they can think of in there to CYA. As you know it is risky but I wouldn't get glummer over that lawyers special section. I do believe the end of phase 1 will be huge for us next July as either it works or it doesn’t.
<<What you've just copied and pasted is NOTHING NEW!! It's almost word for word in every filing...please contribute constructively to the board.>>
Of course I copied and pasted it, and I did it because some on this board don't want to face the facts that ACT is in real trouble financially, and these are the facts right from the companies 10-Q. I have to give ACT an A for not trying to sugar coat their dire condition, or as some might say in their death throes.