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Dais Analytic Corporation Message Board

  • psfilms2000 psfilms2000 Jan 2, 2013 12:43 AM Flag

    huge news China?

    The updated 8k on 31 Dec 2012 is something to cheer about--setting operations in China should mean access to an enormous market for many years to come and positively impact revenues and stock price. Real opportunity at this price for big gains. here is copy of 8k

    31-Dec-2012

    Entry into a Material Definitive Agreement, Financial Statements and Exhibits

    Item 1.01 Entry into a Material Definitive Agreement.

    On December 28, 2012, Dais Analytic Corporation (the "Company") amended its Securities Purchase Agreement, dated October 17, 2012 (the "Securities Purchase Agreement"), with Green Valley International Investment Management Company Limited (the "Investor") pursuant to which the Investor will purchase up to $7.0 million of the Company's common stock, $0.01 par value per share (the "Common Stock"), and warrants (the "Warrants") to purchase up to 17,500,000 shares of Common Stock.

    Pursuant to the terms of the Securities Purchase Agreement, the Investor has purchased $1,750,000 of Common Stock and Warrants. The amendment, requires the Purchaser to purchase the remaining Common Stock and Warrants on or before January 25, 2013. This extension will allow the Company and the Investor to create and capitalize a wholly owned subsidiary to be organized and located in China (the "Dais China Subsidiary"). Pursuant to the amendment, the Company shall use $4.0 million of the aggregate proceeds from the sale of Common Stock and Warrants for capital expenditures, working capital, and general business purposes. The Company shall use the remaining proceeds from the sale of the Common Stock and Warrants to create and capitalize the Dais China Subsidiary.

    The Amendment to Securities Purchase Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K. The foregoing summary of the terms of the Amendment to Securities Purchase Agreement are subject to, and qualified in their entirety by, such document attached hereto, which is incorporated herein by reference.

    Sentiment: Strong Buy

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    • Regurgitating the 8K in the message board is bad form, especially when indicating a strong buy. Note that the real news is that the 8K indicates the investor failed to fund the last 2 tranches as had been originally planned in Q4 and it was pushed into Q1 '13. An indication of funding falling through? There is scant little information on the investment group as well which is troubling in that it was done "privately".

      Also, remember the huge news about China in 2009 that pumped the stock up, with Genertec? A $200M deal that went nowhere. It was finally terminated at the beginning of 2012 after no products were sold and no revenue, except for the the $150K deposit declared as revenue in Q1 '12. This is a little different in that Dais/Tangredi/The Board is heavily diluting existing shareholders. With 35M shares outstanding (including options and warrants) when you sell 70M shares plus warrants, the existing shareholders are diluted by two thirds. (The management team and board awarded themselves 1.4M options in Dec at 11.5 cents though.)

      So, IS it a good deal to get $7M from HongKong (China?), sending $3M back to China via a new subsidiary that is going to be conveniently set up? There aren't any material purchase agreements or anything else that would indicate products or a business is in place to support this. (Remember the ancient Chinese proverb, "A fish rots from the head down").

      Revenue through Q3 was pretty flat, with no mention of any sales or key customers in any part of the world. Will be interesting to see what the Q4 revenue numbers are and what story is put around them. Seems like the main thing coming out of Dais is hot air and hype I am afraid. No shareholder meetings or guidance of any sort is also troubling. Definitely a case of Buyer Beware.

 
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