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| | Business Summary: OncoVista Innovative Therapies, Inc., a biopharmaceutical company, engages in the development and commercialization of targeted cancer therapies. | | | Address
14785 Omicron Drive, Suite 104
San Antonio
, TX 78245-3222
Phone: 210-677-6000
Fax: 210-677-6001
Website: http://www.oncovista.com
| | Auditor |
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Berman & Company, P.A.
Boca Raton | | Transfer Agent |
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Continental Stock Transfer & Trust Co.
| Employees: 18
ShareHolders: 250 | Founded: 1999
Domicile: Nevada | | | |
| | OncoVista Innovative Therapies, Inc., a biopharmaceutical company, engages in the development and commercialization of targeted cancer therapies. The company, through its subsidiary, AdnaGen AG, markets diagnostic products, AdnaGen kits, for metastatic colon and metastatic breast cancer diagnosis in Europe. Its portfolio of compounds and technologies under development or planned development include Liposomal Ts Inhibitor (OVI-237) that is in Phase II clinical stage for the treatment of metastatic solid tumors; Cordycepin (OVI-123), a Phase I/II clinical stage drug for the treatment of refractory TdT positive leukemias; L-Nucleoside Conjugate (OVI-117), which is in pre-clinical development stage to treat colon cancer; and Tubulin Isotype-Specific Anti-Mitotics that is in pre-clinical stage for solid tumors expressing and specific tubulin isotypes. The company was incorporated in 2004 and is based in San Antonio, Texas. | | History: INCORPORATED in Nevada Jan. 8, 1999, as Aviation Upgrade Technologies, Inc.; name changed to OncoVista Innovative Therapies, Inc. Jan. 8, 2008.
November 13, 2007, acquired OncoVista, Inc. through merger of a wholly owned subsidiary of the company into OncoVista, Inc. In the merger, each outstanding Common share of OncoVista, Inc. was exchanged for one Common share of the company such that OncoVista, Inc.'s shareholders became holders of approximately 96.3% of the company's then issued and outstanding capital stock. In addition, all of the company's shares previously acquired by OncoVista, Inc. (in August 2007) were cancelled.
OncoVista, Inc., the acquired concern, was incorporated in Delaware Sept. 22, 2004. | | | | Subsidiaries: |
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AdnaGen AG
NanoVici, Inc.
OncoVista, Inc.
OncoVista-Aengus, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2008 | 34 |
| | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2008 | 3,386 |
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Management
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| Officers | Position |
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| Alexander L. Weis | Chairman, President, Secretary & Chief Executive Officer | | J. Michael Edwards | Chief Financial Officer & Chief Accounting Officer | | Corey Levenson | Chief Technology Officer | | Aimee Boutcher | Investor Relations Contact |
| | Directors |
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| William J. Brock | | Corey Levenson | | Alexander Ruckdaeschel | | Alexander L. Weis | | James Wemett | | | |
| | | | Capitalization as of 03/31/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Common $0.001 par | 147,397,390 | 20,316,475 |
| | | | LONG TERM DEBT: $3,302,000. | | | | Common $0.001 par | | | | COMMON OFFERED: In January 2001, the company concluded a Regulation D, Rule 506 offering of Common in the U.S. and a Regulation S offering of Common overseas. As part of the Rule 506 offering, the company issued 40,000 Common shares for aggregate cash consideration of $40,000 in 2000. As part of the Regulation S offering, it issued 467,000 Common shares for aggregate cash consideration of $467,000. In January 2001, the company also issued 1,500 Common shares for investor relations services in connection with this offering.
March 4, 2002, the company, in a direct public offering, offered 250,000 Common shares at $8.75 per share for a period of six months. The offering was not underwritten. | | | |
Stockholders:
03/20/2009,
250.
| | PRINCIPAL STOCKHOLDERS: February 28, 2009, Alexander L. Weis owned or controlled 26% of the Common, Wexford Spectrum Trading Ltd. 11.6%, CAMOFI Master LDC and CAMHZN Master LDC 11.5%, James Wemett 11.2%, Jack A. Tuszynski 6.9% Technology Innovations 6.1% and Biomed Solutions, LLC 5.1%. | | | |
Transfer Agent: Continental Stock Transfer & Trust Co.
New York
, NY | | | | OTC Bulletin Board( Primary): OVIT | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2008 | 3.5000 | 0.2000 | | OTC Bulletin Board | 2007 | 2.7500 | 2.0000 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common $0.001 par was split 1.4739739-for-1, ex-Oct. 29, 2007. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2008 | 2007 |
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| REVENUES |
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| | Licensing | 52,447 | 1,501,676 | | Diagnostic Kits | 361,707 | 239,364 | | Research & Development Revenues | 89,171 | 226,950 | | Total Revenues | 503,325 | 1,967,990 | | EXPENSES |
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| | Research and Development | (3,386,163) | (4,501,401) | | General and Administrative | (5,128,583) | (2,984,801) | | Interest Expense | (241,533) | (309,565) | | Interest Income | 55,109 | 118,139 | | Gain on Debt Settlement | 758,801 | 56,428 | | Others | (42,980) | 50,817 | | Earnings before Taxes | (7,482,024) | (5,602,393) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (7,482,024) | (5,602,393) | | SUPPLEMENTARY INFO |
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| | Operating Income (Loss) | (8,011,421.00) | (5,518,212.00) | | Basic and diluted Eps-continuing Operations | (0.41) | (0.33) |
| | | | Balance Sheet | |
| 2008 | 2007 |
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| ASSETS |
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| | CURRENT ASSETS |
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| | Cash and Cash Equivalents | 91,482 | 4,364,141 | | Accounts Receivables | 171,775 | 195,224 | | Inventories | 51,575 | 36,493 | | Prepaid and Other Current Assets | 33,851 | 98,368 | | Total Current Assets | 348,683 | 4,694,226 | | NON CURRENT ASSETS |
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| | Equipment (Net) | 151,667 | 199,621 | | Deposits and Other Assets | 53,783 | 56,102 | | Total Assets | 554,133 | 4,949,949 | | LIABILITIES |
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| | CURRENT LIABILITIES |
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| | Accounts Payable | 593,721 | 245,704 | | Accrued Expenses | 1,235,204 | 568,754 | | Accrued Interest Payable | 1,080,355 | 1,114,746 | | Notes Payable | 804,850 | 836,450 | | Loan Payable | 1,318,980 | 2,136,657 | | Total Current Liabilities | 5,033,110 | 4,902,311 | | NON CURRENT LIABILITIES |
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| | Notes Payable | 3,524,250 | 3,682,250 | | Accrued Interest Payable | 338,328 | 353,497 | | Others | 4,224 | 4,224 | | SHAREHOLDERS' EQUITY |
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| | Common Stock-par Value | 20,316 | 20,116 | | Additional Paid in Capital | 16,389,878 | 13,604,591 | | Accumulated Deficit | (23,574,948) | (16,092,923) | | Accumulated Other Comprehensive Loss | (1,181,026) | (1,524,117) | | Total Shareholders Equity | (8,345,779) | (3,992,333) | | Total Liabilities & Shareholders Equity | 554,133 | 4,949,949 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | 180,000 | | 2008 |
1 | 80,000 | | 2008 |
2 | 80,000 | | 2008 |
3 | 90,000 | | 2008 |
4 | 250,000 | | 2008 |
Full Year
| 500,000 | | 2007 |
1 | 510,000 | | 2007 |
2 | (30,000) | | 2007 |
3 | 250,000 | | 2007 |
4 | 1,100,000 | | 2007 |
Full Year
| 1,820,000 | | 2006 |
1 | 400,000 | | 2006 |
2 | 400,000 | | 2006 |
3 | 560,000 | | 2006 |
4 | 560,000 | | 2006 |
Full Year
| 1,930,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (1,560,000) | | 2008 |
1 | (2,270,000) | | 2008 |
2 | (1,680,000) | | 2008 |
3 | (1,850,000) | | 2008 |
4 | (1,690,000) | | 2008 |
Full Year
| (7,480,000) | | 2007 |
Full Year
| (5,600,000) | | 2006 |
Full Year
| (8,670,000) | | 2005 |
Full Year
| (1,620,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (.08) | | 2008 |
1 | (.12) | | 2008 |
2 | (.09) | | 2008 |
3 | (.10) | | 2008 |
4 | (.09) | | 2008 |
Full Year
| (.41) | | 2007 |
1 | (.04) | | 2007 |
2 | (.07) | | 2007 |
3 | (.06) | | 2007 |
4 | (.36) | | 2007 |
Full Year
| (.33) | | 2006 |
1 | (.05) | | 2006 |
2 | (.05) | | 2006 |
3 | (.18) | | 2006 |
4 | (.18) | | 2006 |
Full Year
| (.46) | | 2005 |
Full Year
| (.10) |
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