My underestanding is that JAG was chasing the naked stories through the courts and ran out of gas and cash not proving or disproving of the stories. Cardiogenics came along and bought the shell of a company (and it's baggage) and then paid the price by issuing shares to end and close out the unresolved claims.

The lack of sales/revenues is interesting - why is one question we are all asking. For sure they are able to get new investor money so something must be worth investing in.

One point I have mentioned to others is that there are many junior biotech companies that are higher in share price and shares outstanding but way behind in product development. Cardiogenics is closing in on the finish line and getting pounded on the share price side. Something doesn't add up so I am keeping my bet on the company. Shorts or not, I am still a believer that they have something and there is a game plan with the FDA approval being the brass ring.

Here is a link to a Casey newsletter that I had followed to source other biotech for a reference.

http://www.caseyresearch.com/premium-publications/casey-extraordinary-technology

Hoping to see other shareholders at the upcoming shareholder meeting. My share count is correct.