Although the microplate version of the BGM Galectin-3 test is the primary, current focus of our commercialization strategy, we have partnered with four leading diagnostic instrument manufacturers to develop automated versions of our galectin-3 test, which we expect will result in broader customer acceptance and clinical adoption of our galectin-3 test. To execute this element of our commercialization strategy, we have entered into worldwide license, development and commercialization agreements with Abbott Laboratories, or Abbott, Alere Inc., or Alere, bioMérieux SA, or bioMérieux, and Siemens Healthcare Diagnostics Inc., or Siemens, for the development of our galectin-3 test on their automated instruments, including point-of-care instruments, which are utilized within hospitals and other medical organizations. We believe that through these four partners we will have broad access to major segments of the diagnostics market, including hospital laboratories, private laboratories, reference laboratories and physician office laboratories, due to the widespread coverage of our partners’ installed bases. Under the agreements, our partners are responsible for developing and commercializing the tests and we are responsible for furthering clinical awareness and developing the market for galectin-3 testing. (Says Worldwide not sure with which one)
I agree and if you cut that then the company is profitable. I would like to know what they have been doing to deserve any of it.
Well looking at the numbers - there shouldn't be any research cost this quarter or marketing expense since Abbot is handling. Taking this into consideration the numbers aren't that bad and are pretty close. Just a few more sales they should be profitable. Am I off track in my thinking?
Thanks for posting...... It is going to be a bumpy ride - hopefully the wheels stay on the bus and we all make money.....
No it talked about sales and how they received first payment from abbot. I would copy and paste but not reading back through it to find it right now :-)
Man that thing is long and deep. But this was the most interesting part I got:
As of March 15, 2016, there were approximately 27 stockholders of record of the 11,319,475 outstanding shares of our common stock.
Proud to be part of a select group but that means there are people with a lot more to lose than me. Plus Flagship still owns over 11%.
Now the 10-K was nothing but negative but who the heck is buying all the shares being sold if there are only 27 of us?
I agree with all the above and it would show clear negligence and abuse of power if they get rich while retail loses. So if they have any ounce of integrity I hope they are doing this for the greater good of all the stock holders.
I had a old traditional IRA I used to invest in this stock. Which now is almost worthless so it has allowed me to rollover to a ROTH now without hardly any penalty :-)
So now the stock needs to take off and I can have my money tax free :-)
LOL I had to think of something positive for this stock being in the can.....
Just seems funny how this isn't at 0 where I thought it would be after that announcement.... SO hopefully something positive for the retail holder will happen in the near future...
FYI if they take this private for a few pennies and then become rich I feel some good jail time is in order and hopefully they get taken advantage of like we have been till they bleed and can't sit.
I got to say this has been a trading lesson a little on the expensive side so far. I can only hope I learn from my mistake.
That is a good question - I myself bought a few shares but only in hopes we don't know the full story yet. Probably a dumb move but what the heck I have already lost a good amount so for a few pennies I lowered my avg cost. But there was a lot of shares that changed hands today and I am curious who else was buying.
Since there is less than 300 owners I would say the majority of retail is on this board. Did anyone else pick up shares today?
If they wanted the BK option would have already been done. My thinking is they realized instead of that option where they would lose all their shares is to wait out this first year and hopefully turn profitable... But who knows I know I am way down and no point in selling might even pick up 1000 - 10000 shares. Less than 300 owners means someone besides retail has big amounts of shares and a lot to lose if company goes bk - but a lot to gain if company takes off. With all the Gal-3 articles coming out nowadays I just can't walk away from this one.