I believe their 4Q earnings was up 47%. That should produce some
mbrown
...@gmail.com wrote:
> Biomagnetics (OTC BMGP) Releases Financing Details for Chinese Stem
> Cell / Biotech Division and Core Technology Development
> www.biomagneticsbmgp.com
> BMGP is working with existing shareholders and friends of the company
> to place approximately $500,000.00 of 18 month interest bearing
> promissory notes to file a registration statement and applying for
> bulletin board status, conclude a partnering agreement with Christian
> Doppler Labs (CDL) and establish a wholly owned Chinese subsidiary.
> BMGP has begun receiving initial funds and hopes to conclude this
> level of financing within the first quarter of 2009.
> In light of current economic realities, we elected to focus solely on
> internal financing for development of our core technology and leverage
> our efforts within the international stem cell and genetic engineering
> industries, said Clayton Hardman, President and CEO.
> To date we have spent in excess of four million dollars developing
> our core technology that resulted in two patents, prototype
> engineering development by Lathrop Engineering, a joint venture with
> ACGT DNA Technologies for development of a separate Chinese based
> subsidiary and membership with the prestigious Christian Doppler
> Group.
> The Christian Doppler Research Association s (http://www.cdg.ac.at )
> corporate membership roster includes international corporations such
> as BMW and Siemens, as well as biotech companies including Intercell,
> http://www.intercell.co.at Shire PLC (www.shire.com and Oridis Biomed
> ( www.oridis-biomed.com).
> BMGP s stock has traded in excess of $1.00 per share over the past 18
> months; analyst Victor Sula of Beacon Equity Research issued a target
> price of $1.42 per share this past March based on the successful
> completion of the company s core business plan. With a revised
> financing plan and a potential stock dividend in the Chinese operating
> company we join our public shareholders in hoping this allows for a
> valuation of our stock more in line with historical trading ranges
> (for disclosure information and a copy of the Research Report please
> refer to www.biomagneticsbmgp.com).
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