1) Why does it look like gmed was traded at .0001 on bigcharts.com?
There are a few more days of trading, it seems, till our registration is revoked by the SEC.
2) Does my stockbroker have the actual shares (paper) which I hold?
I believe so. This is a common question, so my guess is that stockbrokers have worked out a way to hold certificates for their consumers. Whether they’re actual paper certificates or some electronic form that has the same effect, I’m not sure. As you know, anybody can get a new certificate from the Transfer Agent if they lose their original certificate by filling out some paperwork. The Transfer Agent, Standard Register and Transfer of Provo, UT, has a list of every stockholder and how much they own.
3) What price will be established for shares bought and sold, if facilitated through Genomed?
At the moment, I don’t know. If we do trade again, though, I promise that we’ll set the price higher than the 0.3 cents a share we’ve been for the past few years.
As you know, we have a lot of work to do before then, like bringing in several hundred thousand dollars in revenues or investments to pay for re-registration with the SEC. If investors come in, they’ll undoubtedly be specific about their terms. I promise that existing shareholders will be treated fairly, since I am one, too. If we manage to bootstrap our way out of this without any help, i.e. by bringing in revenues alone, then we can have a discussion among the shareholders in our private company. We may want to consider a reverse split to bring the number of total shares down.
Dave Moskowitz MD
CEO, GenoMed, Inc.