OTC Bulletin Board

S & P Company Insight for
 
 Profile

 
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
  Berman & Company, P.A.
  Boca Raton
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  18
ShareHolders:  250
Founded:  1999
Domicile:  Nevada
 
  
 
 Background

 
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:
AdnaGen AG
NanoVici, Inc.
OncoVista, Inc.
OncoVista-Aengus, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2008  34
  2007  16
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2008  3,386
  2007  4,247
 
  
 
 Management

 

Management
OfficersPosition
 Alexander L. WeisChairman, President, Secretary & Chief Executive Officer
 J. Michael EdwardsChief Financial Officer & Chief Accounting Officer
 Corey  LevensonChief Technology Officer
 Aimee  BoutcherInvestor Relations Contact

Directors
 William J. Brock
 Corey  Levenson
 Alexander  Ruckdaeschel
 Alexander L. Weis
 James  Wemett
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
REVENUES
Licensing52,4471,501,676
Diagnostic Kits361,707239,364
Research & Development Revenues89,171226,950
Total Revenues503,3251,967,990
EXPENSES
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 Income55,109118,139
Gain on Debt Settlement758,80156,428
Others(42,980)50,817
Earnings before Taxes(7,482,024)(5,602,393)
TAXES AND OTHER EXPENSES
Net Income (Loss)(7,482,024)(5,602,393)
SUPPLEMENTARY INFO
Operating Income (Loss)(8,011,421.00)(5,518,212.00)
Basic and diluted Eps-continuing Operations(0.41)(0.33)
 
Balance Sheet
  20082007
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents91,4824,364,141
Accounts Receivables171,775195,224
Inventories51,57536,493
Prepaid and Other Current Assets33,85198,368
Total Current Assets348,6834,694,226
NON CURRENT ASSETS
Equipment (Net)151,667199,621
Deposits and Other Assets53,78356,102
Total Assets554,1334,949,949
LIABILITIES
CURRENT LIABILITIES
Accounts Payable593,721245,704
Accrued Expenses1,235,204568,754
Accrued Interest Payable1,080,3551,114,746
Notes Payable804,850836,450
Loan Payable1,318,9802,136,657
Total Current Liabilities5,033,1104,902,311
NON CURRENT LIABILITIES
Notes Payable3,524,2503,682,250
Accrued Interest Payable338,328353,497
Others4,2244,224
SHAREHOLDERS' EQUITY
Common Stock-par Value20,31620,116
Additional Paid in Capital16,389,87813,604,591
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 Equity554,1334,949,949
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   1180,000
  2008   180,000
  2008   280,000
  2008   390,000
  2008   4250,000
  2008   Full Year 500,000
  2007   1510,000
  2007   2(30,000)
  2007   3250,000
  2007   41,100,000
  2007   Full Year 1,820,000
  2006   1400,000
  2006   2400,000
  2006   3560,000
  2006   4560,000
  2006   Full Year 1,930,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  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$
YearQuarterRevenue
  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)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2009:
 
 Authorized SharesOutstanding Shares
Common $0.001 par147,397,39020,316,475
 
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
 
ExchangeYearHighLow
OTC Bulletin Board20083.50000.2000
OTC Bulletin Board20072.75002.0000
 
DIVIDENDS: Common $0.001 par: No cash. Common $0.001 par was split 1.4739739-for-1, ex-Oct. 29, 2007.