By: roy_hinkley 04 Apr 2005, 09:58 PM EDT Msg. 66812 of 66822 Jump to msg. # CC Bottom line:
China not finished Africa not finished No rapid sales or approvals completed anywhere Tim Clemensen and the 3 "Dicks" on the show. No Roger Gale $ 8,000,000 in 8% "convertible notes" with warrants.
Use of $ 8,000,000
1, Pay back Marr $ 2,000,000 leaving $ 6,000,000 in operating capital. (As per 10K,read it)
2. The $ 8,000,000 plus $ 2,000,000 in January totals exactly $ 10,000,000 the exact amount necessary to advance Tony Cataldo's payoff number so that practically all of his $ 1,000,000 golden parachute payoff is now paid in full.
3. Here is the cool point. The $ 2,000,000 already loaned has to be paid back first so even though they put up 10 million total to key in Cataldo's advanced payoff, they immediately got 2 million back leaving only 8 million at risk on their "10 million" investment.
Also, the "additional" 5.5 million line of credit is a smoke screen. Please notice that it requires unanimous approval by the HIV board of directors to be able to access this money. Since Marr has two members on the board, Roger Gale, Chairman, and Maxim Soulimov they could effectively block any use of this money if Marr chooses to.
They had this same provision last year and didn't use the 3.9 million line of credit.
Now lets see what Marr gets for their $ 8,000,000 loan. I will wait to see wording of revised 10KSB.
And still no announcement about Magic Johnson, or any of the three "Dicks" joining the board of directors.
Notice there were no numbers given on sales of BED incidence tests either.
This was the "we hope and pray we can keep our $ 200,000 plus a year jobs with great travel benefits. Just don't make us serve on the board or own any HIV stock, OK." Conference call.
Wonder if Richard George could move the ball down the field while serving on Board and owning stock?
On a side note Tony Cataldo is now over at MUCL and they just announced a 5-1 Reverse Split in May. Some things never change.
Anyone notice how quickly they determined there were no questions. I found that amusing.
Finally, I thought I heard Dr. George say they had reduced cash burn. That sure doesn't show up in any of the audited numbers. Did I hear him right? Surely he he is not going to turn into another Tony Cataldo, I hope.
|