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Es war ja lange ruhig um Viragen, jetzt hat sich der Chairmen gemeldet und sagt was zu den Stand der Zielsetzung für das 1. Halbjahr 2003 sowie die Ziele für die nächsten 12 Monate: Viragen`s Chairman Presents Mid-Year Progress Report PLANTATION, Fla., Jun 18, 2003 /PRNewswire-FirstCall via COMTEX/ -- The following is a letter from the Chairman of Viragen, Inc. (Amex: VRA) and Viragen International, Inc. (OTC Bulletin Board: VGNI), Mr. Carl N. Singer. In addition to these comments, stockholders are referred to the Company`s Form 10-K and Form 10-Q (Annual and Quarterly Reports filed with the SEC); press releases and other publicly disseminated information; information posted on Viragen`s Website at www.Viragen.com; and other printed information which may be supplied by the Company on request. Dear Stockholder, On January 30th of this year, Robert Salisbury and I accepted the respective responsibilities of President & CEO and Chairman in steering Viragen through its next stage of progress, development and growth. In doing so, we have prioritized the initiatives of our Company to focus on those activities that we believe will result in Viragen reaching an appropriate market valuation for its valued stockholders. Over the past months, we have challenged our Board, Senior Management, employees and collaborative partners with achieving the following ambitious goals aimed towards building stockholder value: 2003 Goals - First Half Report * Build Multiferon(TM) revenue * Expand Multiferon(TM) indications and geographic approvals * Enter into additional international supply and distribution agreements * Report significant Avian Transgenics milestones * Obtain debt financing by offering debentures convertible at a premium to market price * Contain costs, cut cash burn rate, focus resources on priority programs * Implement Director/Management stock-based compensation program While it has been less than six months since setting these goals, I am pleased to report that tangible progress has been reported regarding all of these initiatives. We invite you to review these press announcements at www.Viragen.com. Our reported results demonstrate that our global Multiferon program is growing steadily and our R&D projects, including Avian Transgenic Technology and certain anti-cancer efforts, appear capable of fulfilling their promise. While our progress to date is encouraging, it is only the very beginning of our long-term strategy and vision. Over the next twelve months, we expect to continue to report important commercial and scientific milestones, which build upon all of the previously mentioned goals, as well as include the following: 2003/2004 Goals - Next 12 Months * Strengthen our Board of Directors * Obtain long-term beneficial financing * Report combined production of Multiferon(TM) from two facilities in Sweden * Secure early access Avian Technology production collaboration * Enter into strategic partnerships (all platforms) * Publish peer-reviewed data in medical publications * Strengthen intellectual property (patent) portfolio * Obtain independent research coverage * Increase exposure to institutional and retail investors On Wednesday, June 25th, we will hold a Special Meeting of Stockholders for the purpose of seeking stockholder approval regarding certain items including increasing the number of Viragen`s authorized shares. Our Board has determined that the approval of these measures would provide Viragen the flexibility to execute its long-range business plan. With the approval of these measures, we will have access to our recently announced $12 million equity line of credit, subject to SEC clearance. We are concerned about potential dilution, so we intend to draw upon the equity line only as needed to fund our operations and progress our commercial and scientific programs. We have based our request for the increased authorization on a set of assumptions which provides for unexpected events and/or opportunities, but our intent is to minimize the use of authorized but unissued shares. While the equity line should be capable of providing needed funding, we will continue to seek strategic partners and new investors which could reduce the number of equity transactions needed to fund operations. Growth and expansion of our commercial activities could also diminish our reliance upon equity transactions to fund our business plan. In addition, management continues to aggressively contain costs, direct resources to priority programs and work towards building stockholder value. We appreciate our stockholders` continued support. Sincerely, Carl N. Singer Chairman of the Board Gruß Fraktal |
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| aus der Diskussion: | Viragen - aktueller Artikel im Science Magazin |
| Autor (Datum des Eintrages): | Frakt@l (19.06.03 16:50:06) |
| Beitrag: | 18 von 128 (ID:9810186) |
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