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Disingenuous Management PR Spin: License and Marketing Termination Edition

To wit, here is management's press release...

They are "elated" (elated!!!) that the license and marketing agreements with Neogen have been terminated.

And here is the reaction of investors...

Meanwhile, the following was included on page 16 of the IPO Prospectus for SNES filed just over a month ago:

We do not currently have internal full-scale manufacturing capability and we must rely upon third parties to manufacture our products or develop our own full-scale manufacturing capability. Our existing internal manufacturing platform is not yet ready for full-scale production, but is adequate for supporting field trials and to meet a surge in production. We would be required to spend significant time and resources to expand these manufacturing facilities to obtain full-scale production capabilities. We have entered into an agreement with Neogen to provide us with full-scale manufacturing capacities within the United States.

Nuff said...

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