Thanks for contacting me. I’ve added you to GenoMed’s contact list, so you’ll get press releases like the one I sent out March 4, 2010, when I first heard that the SEC had suspended trading in our stock.
The SEC’s position is pretty cut and dried. We haven’t filed with them since 2005, and their position is that we shouldn’t be a public company unless we continue to file with them. Unfortunately, auditors and SEC attorneys, not to mention Sarbannes-Oxley requirements, would cost us an extra $100K or so a year. At this point, we simply can’t afford to keep current with our SEC filing requirements. I hope our financial situation changes soon, and we can re-register with the SEC and resume trading on a public exchange.
For the moment, we have no alternative but to continue as a non-trading, i.e. private, company until we have sufficient money to re-register with the SEC again and resume trading. I have no idea how long that will be. I keep hoping the world will hear about our ability to prevent 90% of dialysis and we’ll soon have thousands of patients who want us to keep them off dialysis. But that hasn’t happened yet. I keep trying to get the word out everyday, as many of you do. In any event, the SEC assures me that the current action will not adversely affect our chances to re-register with them once our finances have improved.
I promise to keep you posted as closely, now that we’re private, as I did when we were public. I also promise to treat all my investors fairly. I’ve instructed the stock transfer agent to send me a list of stockholders as of March 3, 2010 so that I can upload all your emails onto our master list. I would appreciate it if you contacted me yourselves, along with the number of shares that you own, so that I can send you company news when I send it to everybody else.
PLEASE DO NOT THROW AWAY YOUR GENOMED SHARE CERTIFICATES! You will need them to prove your prior investment in the company. They still have value. Even though you can’t trade them on a public exchange like the Pink Sheets anymore, it’s perfectly legal for you to trade them amongst yourselves.
Dave Moskowitz MD
CEO, GenoMed, Inc.