I already voted in favor of the proxy, because I feel that we will finally be able to put the financial distress behind us and we will no longer be on a short leash by our bondholders. This will undoubtedly give Moro enough green to do anything and everything that he has been laying out in his previous press releases, but was delayed due to lack of money. Oncopet, China, India, imaging, therapeutics, get off the OTC BB and on the AMEX, NYSE,or NASDAQ, and/or add staff if needed. It would be good to hear from him about what his plans are to allay any concerns, and reassure investors that this is absolutely necessary or he would not be going directly to shareholders for this vote.
I thought I would get everyone's attention with this story printed yesterday about a similar cancer diagnostic biotech company that has been where we have been and it shows you just how fast things can turn once we get this behind us. It's worth reading and see if you see the same similarities I see. Just remember why you invested in this company and why it's important to trust Dr Moro. IMO, the rewards will be plentiful.
Please humor me and read the following:
The most amazing comeback is that of Vermillion ( VRMLQ.PK - news - people ), a tiny developer of diagnostic tests that is still in Chapter 11 bankruptcy. The company, which developed a blood test called OVA1 to measure the likelihood that ovarian tumors are malignant, was facing worries about whether it could pay bondholders before the financial crisis hit. Its stock was delisted from the Nasdaq on Sept. 26, 2008.
Vermillion filed for bankruptcy protection on March 30, 2009, when it had less than $1 million in cash left. The entire executive team resigned to save cash, continuing to work on a consulting basis. The board took payment in equity. Only three employees--one in regulatory affairs, one in quality control, and one to handle financial affairs--remained on the payroll. Gail Page, the company's executive chairman, says the only way she could keep the company alive was to put it in suspended animation.
On Sept. 11, 2009, the Food and Drug Administration cleared the OVA1 test, and Vermillion shares began to rocket upward on the Pink Sheets. Quest, Vermillion's marketing partner, gave Vermillion $1.5 million in funding and said it wouldn't demand that a $10 million loan made in 2005 be paid off immediately. Its shares are up 180,000% from their 52-week low. Page says her investors include Quest and the family of biotech giant George Rathmann.
((See for yourself just click on the link it shows the 52 week low of .01) http://finance.yahoo.com/q?s=VRMLQ.PK
You people that want to still short us go ahead, but be prepared!!!
