To say their relationship with Platinum has soured seems an understatement based on the wording in this. Makes you wonder if Platinum was mislead at some point, that they are extracting $15,000 from Dais just to file this letter suggests the relationship has really deteriorated. I guess this is what Tangredi meant when he said, "Relationships change and it's unfortunate." Tangredi basically bet the company when he used their patents as collateral. He has less than 30 days now to win the bet. We'll see. That he made this video at a time when all of this was looming seems very bizarre now -
They could be in negotiations with someone for a buyout or cash infusion. Why request the 30 day extension otherwise in order to delay the inevitable? It's also interesting that they cancelled the share offering. Why bother? Would a suitor or investor require the cancellation to strike a deal?
If Platinum sells off the IP, shareholders will be left holding the bag.
I've always thought it strange that a Pharmaceutical Investor Group like Platinum would loan money to Dais. Tangredi is originally from the New York area and may have (or) had a friendship with Dr. Goldberg.
A buyout by the Chinese could possibly happen, but who knows where that would leave the shareholders.
We may just wind up with a sizable tax write-off this year (or not).
Platinum gave them a one year extension, then a six week extension. They may have wanted more control than Tangredi was willing to give them, so now they're calling in the notes. They're a hedge fund, they're in business to make money. Does the positive impact of new green technology on the planet excite them? I doubt it. I wonder though if they were kept as much in the dark on the China deal as shareholders were, and that might have permanently poisoned the relationship.
After trying for nine months, and with the China deal unraveling, Dais probably realized they were never going to get the offering done.
The company added a number of new engineering, product development and manufacturing staff in 2010 and 2011. With the new DOD grant and all of the exposure they received on US commerce trips you could make a case for getting into this stock. Now it's a wait and see. On the plus side, they have Batman on staff - http://www.facebook.com/jinendra.lakshmichand.5?ref=nf_fr