Calypte Only Company with Full Menu of Tests.
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By RODRIQUE NGOWI
Associated Press Writer
http://hosted.ap.org/dynamic/stories/A/...T&CTIME=2005-07-23-20-29-18
NAIROBI, Kenya (AP) -- Former President Bill Clinton launched a program Saturday that will nearly double the number of children receiving treatment for HIV infection in Kenya by the end of the year.
Some 100,000 children are infected with HIV, but only 1,200 receive treatment. The Clinton Foundation's Pediatric HIV/AIDS Initiative will provide treatment to an additional 1,000 children in this East African nation.
Clinton flew to Rwanda later Saturday and donated a year's supply of anti-retroviral treatment for 2,500 children infected with HIV, the virus that causes AIDS.
The initiative is part of the foundation's goal to get 10,000 children on anti-retroviral treatment in at least 10 countries by the end of 2005.
Clinton has raised funds from private donors led by the Children Investment Fund Foundation, a London-based charity that funds projects to improve the lives of children in poor countries. The U.S.-based investment fund Lone Pine Capital has also made a substantial contribution.
Children account for one-sixth of annual HIV/AIDS deaths worldwide, but represent less than 5 percent of current treatment coverage, according to the U.N.'s World Health Organization.
The lack of coverage is a result of difficulties associated with pediatric HIV/AIDS care. Diagnosis of the infection in children under 18 months old has been expensive and complex, according to a statement from the Clinton Foundation.
Few pediatricians in developing countries have anti-retroviral experience. The cost of pediatric medications has also been prohibitive, four to five times that of most affordable adult formulations, partly because suppliers have not received large orders.
Clinton's visit to Rwanda was intended to highlight the progress made in extending HIV/AIDS treatment across the small central African nation.
In the past year alone, Rwanda has tripled the number of people on anti-retroviral treatment to approximately 13,250 - about 20 percent of those who need it - and increased the number of treatment sites from 20 to 57, according to the foundation.
The foundation has worked with Rwanda's government since 2002 to help develop and extend the availability of HIV/AIDS treatment.
Rwanda is the final stop on Clinton's six-nation tour of Africa, aimed at focusing attention on the continent's AIDS crisis.
The Clinton Foundation HIV/AIDS Initiative has partnerships with more than a dozen countries in Africa, the Caribbean and Asia.
---
Associated Press writer Edward Rwema contributed to this report from Kigali, Rwanda.
© 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.
Gruß
C.O
e May Be Removed From Listing on the American Stock Exchange if We Fail to Meet
Continuing Listing Standards.
On June 22, 2005, we received a letter from the American Stock Exchange (the
"Amex") notifying us that we are not in compliance with certain of the Amex's
continued listing standards. Specifically, the Amex noted that the we are not in
compliance with the standards because we (i) have stockholders' equity of less
than $2,000,000 and losses from continuing operations and/or net losses in two
out of our three most recent fiscal years; (ii) have stockholders' equity of
less than $4,000,000 and losses from continuing operations and/or net losses in
three out of our four most recent fiscal years; and (iii) have stockholders'
equity of less than $6,000,000 and losses from continuing operations and/or net
losses in our five most recent fiscal years.
To maintain the listing of our common stock on the Amex, we must submit a plan
by July 22, 2005, advising the Amex of the actions we have taken, or will take,
to bring the Company into compliance with the continued listing standards within
a maximum of 18 months of receipt of the notification letter. Although we may be
able to continue our listing during the 18 month period, we will be subject to
periodic reviews to determine whether we are making progress consistent with the
plan. If we do not make progress consistent with the plan during the plan period
or if we are not in compliance with the continued listing standards at the
conclusion of the plan period, the Amex may initiate delisting proceedings as
appropriate. If we submit a plan that is not accepted by the Amex, we may be
subject to earlier delisting proceedings. We are currently analyzing specific
actions which we may take in response to the Amex's notification letter and we
intend to submit a plan to the Amex. Although we believe our plan will be
acceptable and meet the Amex guidelines for continued listing, there can be no
assurance that Amex will accept our plan or that we will achieve the objectives
required to comply with the continued listing standards.
The public trading of our common stock and the ability of our stockholders to
sell their shares could be significantly impaired if we fail to meet the
continued listing standards and are removed from the Amex. In that case, our
common stock would trade either on the OTC Bulletin board, on a regional
exchange, or in the pink sheets, which could have a detrimental impact on our
trading volume and/or share value.
Our Issuance of Warrants, Options and Stock Grants to Consultants for Services
and the Granting of Registration Rights for the Underlying Shares of Common
Stock May Have a Negative Effect on the Trading Price of Our Common Stock.
As we continue to look for ways to minimize our use of cash while obtaining
required services, we expect to continue to issue warrants and options at or
below the current market price or make additional stock bonus grants. During
2004, we issued approximately 2.1 million shares in payment for consulting
services and for the acquisition of intellectual property and equipment. During
the first quarter of 2005, we issued approximately 0.1 million shares and
approximately 1.2 million options at market in payment of consulting services.
In addition to the potential dilutive effect of issuing a large number of shares
or options, there is the potential that a large number of the shares may be sold
on the open market at any given time, which could place additional downward
pressure on the trading price of our common stock.
5
The Price of Our Common Stock Has Been Highly Volatile Due to Several Factors
Which Will Continue to Affect the Price of Our Stock.
Our common stock has traded as low as $0.18 per share and as high as $0.745 per
share in the twelve months ended March 31, 2005. We believe that some of the
factors leading to the volatility include:
o price and volume fluctuations in the stock market at large which do not
relate to our operating performance;
o fluctuations in our operating results;
o concerns about our ability to finance our continuing operations;
o financing arrangements which may require the issuance of a significant
number of shares in relation to the number of shares currently
outstanding, including anti-dilution provisions;
o announcements of technological innovations or new products which we or our
competitors make;
o FDA, SEC and international regulatory actions;
o availability of reimbursement for use of our products from private health
insurers, governmental health administration authorities and other
third-party payors;
o developments with respect to patents or proprietary rights;
o public concern as to the safety of products that we or others develop;
o changes in health care policy in the United States or abroad;
o changes in stock market analysts' recommendations regarding Calypte, other
medical products companies or the medical product industry generally;
o fluctuations in market demand for and supply of our products;
o certain world conditions, such as an economic downturn, natural disasters
or terrorist attacks; and
o anti-American sentiment in certain international markets where we market
or anticipate marketing our products.
We Are Subject to Governmental and Stock Exchange Regulations That Impose
Operational and Reporting Requirements.
The Sarbanes-Oxley Act of 2002 and our listing on the American Stock Exchange
(Amex) in August 2004 required us to modify or supplement some of our corporate
governance and securities disclosure and compliance practices. The Securities
and Exchange Commission and the Amex have revised, and continue to revise, their
regulations and policies. These developments have increased, and are expected to
increase, our legal, compliance and financial reporting costs. Failure to comply
with present or future laws, rules and regulations of any kind that govern our
business could result in suspension or cessation of all or a portion of our
operations, or the imposition of significant administrative, civil or criminal
penalties, any of which could harm our business.
Failure to Achieve and Maintain Internal Controls in Accordance With Section 404
of the Sarbanes-Oxley Act of 2002 Could Have A Material Adverse Effect on Our
Business and Stock Price.
We are in the process of examining and evaluating our internal control
procedures to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act,
which will require our management to annually assess the effectiveness of our
internal controls over financial reporting and our independent registered public
accounting firm to report on our assessment beginning with our Annual Report on
Form 10-KSB for the year ending December 31, 2006. While we expect to complete
our documentation, testing and remediation of any identified deficiencies in
time to meet the deadline for compliance with the requirements of Section 404,
there can be no assurance that we will do so. In addition, if we fail to
maintain the adequacy of our internal controls or fail to implement required new
or improved controls, as such control standards are modified, supplemented or
amended from time to time, we may not be able to ensure that we can conclude on
an ongoing basis that we have effective internal controls over financial
reporting in accordance with Section 404. Effective internal controls are
necessary for us to produce reliable financial reports and are important in the
prevention of financial fraud. If we cannot produce reliable financial reports
or prevent fraud, our business and operating results could be harmed, investors
could lose confidence in our reported financial information, and there could be
a material adverse effect on our stock price.
Gruß
C.O
letter of intent to sell the Legacy Business to Maxim Biomedical, Inc.
("Maxim"). Effective May 1, 2005, we entered into a manufacturing services and
management agreement (the "Agreement") with Maxim pursuant to which Maxim will
manufacture, ship and perform quality control procedures for us in connection
with the Legacy Business. Under the terms of the Agreement, Maxim has hired some
of our ex-employees and we have transferred our current inventory to Maxim for
its use under the Agreement. Pursuant to the Agreement, Maxim has the right, but
not the obligation, to purchase the assets of the Legacy Business on terms to be
negotiated between the parties. We will remain liable for our Rockville facility
and equipment lease obligations, however, we expect to reduce our operating
expenses through this arrangement.
During the third quarter of 2005, we expect to complete either the sale of the
Legacy Business to Maxim or the closure of the Rockville facility and
termination of Legacy Business operations as well as the transition of our
corporate headquarters from California to the Portland, Oregon area. We have
incurred severance costs for certain personnel terminated at Rockville and will
incur severance costs for certain administrative personnel not transitioning to
Oregon. We expect that our restructuring activities will result in
severance-related charges of up to approximately $500,000 in the second quarter
of 2005. We have also incurred approximately $1 million in second quarter 2005
expenses from the transfer of our inventory to Maxim under the Agreement. We may
also be liable for lease costs for the California offices through July 2007 in
the event we are unable to sublease that facility.
Upon successful completion of a sale of the Legacy Business, we believe that we
will have significantly reduced our monthly operating burn rate as compared with
historical levels. If we are unable to complete such a transaction, we may incur
costs to decommission the Rockville facilities; on-going facility lease costs,
until and unless sub-lease opportunities are available and on-going lease or
lease termination costs associated with leased equipment. We cannot currently
estimate those costs, but they will increase our cash burn rate in comparison
with the sale alternative. Under either scenario, the revenue stream from our
Legacy Business products will have been eliminated and we will rely on revenues
from the sale of our BED Incidence Test and, following regulatory approvals,
from the sale of our HIV-1/2 Rapid Tests internationally.
We believe that the geographic consolidation of our domestic operations and the
termination of our Legacy Business resulting from this restructuring will
improve our operational efficiency, decrease our cash burn and permit us to
concentrate on expediting the procedures necessary to commercialize the HIV-1/2
Rapid Tests and thereby begin the process of building the revenue stream
necessary to support our operations and achieve our financial objective of
sustained profitable operations and increased stockholder value.
PLEASANTON, Calif., July 26 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV) announced today that it has timely filed with the American Stock Exchange (the "Amex") a plan of action that the Company believes will bring it into compliance with the continued listing standards of the Amex. On June 22, 2005, the Company received a letter from the Amex notifying the Company that it is not in compliance with certain of the Amex's continued listing standards set forth in the Amex's Company Guide and indicating that the Company has a period of 18 months in which to execute a plan to regain compliance.
In accordance with Rule 1009 of the Amex Company Guide, the
"Exchange staff will evaluate the Plan, including any additional
documentation that supports the Plan, and make a determination as to
whether the company has made reasonable demonstration in the Plan of an
ability to regain compliance with the continued listing standards within
45 days of receipt of the proposed Plan [on July 22, 2005] and will
promptly notify the company of its determination in writing."
While the Company believes that the milestones, financial projections and strategic initiatives outlined in the plan make a reasonable demonstration of its ability to regain compliance with the continued listing standards within the 18-month timeframe specified by the Amex, it can offer no assurances that the Amex will accept the plan.
About Calypte Biomedical:
Calypte Biomedical Corporation is a US-based healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases. Calypte specializes in novel tests such as the HIV-1 BED Incidence EIA and is engaged in developing and commercializing new diagnostic test products for the rapid detection of HIV and other sexually transmitted diseases, several of which do not require blood samples. Calypte believes that there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in lesser-developed countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB/A (No. 2) for the year ended December 31, 2004 and its subsequent filings with the SEC.
SOURCE Calypte Biomedical Corporation
-0- 07/26/2005
/CONTACT: Richard Brounstein, EVP and CFO, Calypte Biomedical
Corporation, +1-925-730-7200, rbrounstein@calypte.com; or Tim Clemensen,
Rubenstein Investor Relations, +1-212-843-9337, tclemensen@rubensteinir.com /
Gruß
C.O
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Joelu ,
du wirst nie begreifen.
Dein Beitrag macht mir wie so oft keinen gesunden eindruck..
Pass auf dich auf und bis nimmer wieder sehen...
Gruß
C.O
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im August eher bei 0,15$ steht als bei seinen 5$?
Stattdessen setzt er mich in seinem Thrad auf "ignore", was ihm aber nicht helfen wird, die Wahrheit nicht sehen zu müssen?
Broker: eine kostenlose Bollerwagenfahrt durch Deine Stadt...mit Dir vorne als Zugpferd...
ist aber lustig dass du meinst ich hätte bei den moderatoren was im brett...
ist echt nicht so baby!!
ich wollte nur mal zeigen, was hier passiert, wenn willkür an der tagesordnung ist und sich jeder mit hilfe oder hilfe der mods über alle grenzen hinwegsetzt.
ich werde uch dann und wann ein paar neue oder alten fakten zu caly liefern, so wie ich gerade bock habe. normalerweise hätte ich gesagt, ich lasse es.
so aber spiele ich euer spielchen einfach mal mit..."nicht war"? alter
"legasteniker"....*ggggg*, um es mit deinen worten zu sagen...
tja , so ist es Joelu alias giants alias ...... wie oft willst du es versuchen??
Ich hatte zu seiner Zeit dir etwas vorgeschlagen gehabt, weiß du noch??
Fachmännische Hilfe ......
Gruß
C.O
caly auf 0,17?
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wann kommt der $, damit du endlich verkaufen kannst?
an der OTC kommt er eher, da wird mehr gezockt...
versuch deine Maschen wo anders umzusetzen. RB fällst du nicht auf, da dich ja jeder kennt.
Unsere Mods leisten eine hervoragende Arbeit, da kann man Stolz sein ...
Gruß
C.O
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