For RJ ... Some DD..
posted on
Jul 22, 2007 10:00AM
Here is some DD for RJ and others. As usual, it is DD that he nor anyone else on this board has paid for.
First DD item; who owns the building in Hinesville, GA (and other pertinent information)
From the 10K found on the SEC/Edgars website:
http://www.sec.gov/Archives/edgar/da...
Quote 1 page F-18:
(2) BioAgra leases land and a building under a ten-year lease expiring in
February 2015, which requires a monthly lease payment of $12,000.
Quote 2 page 11:
BioAgra is located at 103 Technology Drive, Hinesville, Georgia 31313.
BioAgra has leased the facility from the Liberty County Industrial Authority,
pursuant to an Industrial Lease Agreement, dated March 1, 2005 for a period of
10 years. At the expiration of the lease term, BioAgra has the option to
purchase the leased premises (real estate and improvements) for $500,000. The
facility is approximately 30,000 square feet which consists of both office space
and a production area and a research and development laboratory. The facility
is located on approximately 7.29 acres.
Second DD item; guidelines as to SEC reporting:
Found in Electronic Code of Federal Regulations:
http://ecfr.gpoaccess.gov/cgi/t/text...
Quote 1 under General Notes to Financial Statements
The above link also provides a tremendous amount of information and guidelines for SEC filing and regulations. If you are interested, definitely read up on reg 210.1-02
The requirement for subsidiary inclusion does not separate into what form the legal entity takes. A subsidiary is a subsidiary.
What would be good for VytaCorp is for a subsidiary that is owned > 50%, financial statements can be consolidated and profits/losses for both would go to the parent's bottom line. If we owned >50% of ExypnoTech, we would be able to report consolidated financials and VytaCorp would show revenue in excess of $1 million per last third fiscal quarter with double digit revenue growth quarter over quarter. As it is, VytaCorp owns 49% of ExypnoTech and is required to report balance sheet separately.
Third DD item - can you get samples?
RJ, you can bet your bottom dollar that you can get sample(s) if you can demonstrate a real potential usage for Agrastim, Purestim, Equiforce, etc.
When I attended the International Poultry show in Atlanta last January (2007), BioAgra had sample jars both to have tangible product and for potential customers. These jars were only a few onces each but when you consider that Agrastim costs $200+ per kilogram, a few onces is a fair amount of money worth.
With the amicable termination agreement between PBI and BioAgra, the restriction of BioAgra's sale for human consumption has been lifted. For anyone able to demonstrate to BioAgra their ability to market Purestim to the human population, samples and inventory would be available.
Bottom line is, show the need and you will get the inventory.
Hope this helps,
Kent