Allstocks.com's Bulletin Board: ADOT - gets financing....gogogo

This is topic ADOT - gets financing....gogogo in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.

To visit this topic, use this URL:
http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/8/t/003280.html

Posted by JOED5500 on :

January 20, 2004 09:30

GenoMed Secures Additional Financing
ST. LOUIS, Jan 20, 2004 /PRNewswire-FirstCall via COMTEX/ -- GenoMed Inc. ("the Company" or "GenoMed")(National Quotation Bureau's Pink Sheets Symbol GMED) announced today that the Company has secured an additional $900,000 in equity financing from Advanced Optics Electronics, Inc. (OTC Bulletin Board: ADOT). This financing is separate and in addition to the up to $500,000 financing secured by the Company in October 2003 (see company press release of October 22, 2003).

Terms of the Agreement call for a capital investment into GenoMed of $900,000 in exchange for restricted common shares of GenoMed at a 25% discount to market. The financing Agreement will be available for public review within the Company's next filings with the Securities and Exchange Commission (SEC) at www.sec.gov .

Dr. David Moskowitz, GenoMed's CEO and Chief Medical Officer said, "I am pleased to report to the shareholders of our Company that we have secured financing that will allow the Company to accelerate our search for new disease genes, while also spreading the word about diseases we can manage based on the 'master' disease gene we've already found."

Dr. Moskowitz continued, "The capital infusion will be spent mostly on genotyping, sample collection, and data analysis. We shall also commit some money to educating the public about being able to prevent 90% of kidney failure in this country, as well as significantly delay the progression of emphysema. Positive results for West Nile virus encephalitis, psoriasis, and late stage pancreatic cancer will be published soon. Trials are in progress for a number of diseases, including SARS and the flu."

Dr. Moskowitz ended by saying, "I believe this transaction is extremely fair. It limits the dilution to our existing shareholders as the Company moves forward."

About GenoMed

GenoMed, Inc. is a Next Generation Disease Management(TM) whose mission is to improve patient outcomes by identifying the molecular pathways that cause disease. A St. Louis Business Journal article ( http://www.stlouis.bizjournals.com/stlouis/stories/2002/05/13/story8.html ) first reported that the company has applied for patents based on its finding that the ACE gene is associated with a large number of common diseases. It has an aggressive plan to find hundreds of additional disease-predisposition genes within the next 24 months.

------------------
Ciao! Good Luck!!

Posted by emunahstock on :

I think this is a good move by adot. If one of two of there investments in new medical things works out it will be a very possitive income.

Posted by Bazooka on :

pghi goes down on news?

Posted by Bazooka on :

sorry wrong thread

[This message has been edited by Bazooka (edited January 20, 2004).]

Posted by bingo2004 on :

GMED equity financing from ADOT

Press Release Source: GenoMed Inc.

GenoMed Secures Additional Financing
Tuesday January 20, 9:30 am ET

ST. LOUIS, Jan. 20 /PRNewswire-FirstCall/ -- GenoMed Inc. ("the Company" or "GenoMed")(National Quotation Bureau's Pink Sheets Symbol GMED) announced today that the Company has secured an additional $900,000 in equity financing from Advanced Optics Electronics, Inc. (OTC Bulletin Board: ADOT - News). This financing is separate and in addition to the up to $500,000 financing secured by the Company in October 2003 (see company press release of October 22, 2003).
ADVERTISEMENT

Terms of the Agreement call for a capital investment into GenoMed of $900,000 in exchange for restricted common shares of GenoMed at a 25% discount to market. The financing Agreement will be available for public review within the Company's next filings with the Securities and Exchange Commission (SEC) at www.sec.gov .

. Moskowitz continued, "The capital infusion will be spent mostly on genotyping, sample collection, and data analysis. We shall also commit some money to educating the public about being able to prevent 90% of kidney failure in this country, as well as significantly delay the progression of emphysema. Positive results for West Nile virus encephalitis, psoriasis, and late stage pancreatic cancer will be published soon. Trials are in progress for a number of diseases, including SARS and the flu."

Dr. Moskowitz ended by saying, "I believe this transaction is extremely fair. It limits the dilution to our existing shareholders as the Company moves forward."

For questions, please contact David W. Moskowitz MD, MA(Oxon.), FACP at 314-977-0115, FAX 314-977-0042, email: dwmoskowitz@genomedics.com , or visit GenoMed at www.genomedics.com .