Applied DNA Sciences, Inc. Completes Initial Bridge Financing.Business Editors LOS ANGELES--(BUSINESS WIRE)--Dec. 8, 2003 Funding will help perpetuate company's ability to escalate product development and marketing towards bringing exclusive biotechnology to market Applied DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. Sciences, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : APDN), a provider of proprietary embedded-DNA security applications, today announced that its placement agent Vertical Capital Partners, Inc., has closed on its initial $750,000 bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. commitment. The bridge financing was made pursuant to Regulation D under the Securities Act of 1933, as amended (the "Act"). The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). are being used for working capital purposes, among other things. Applied DNA Sciences' exclusive biotechnology provides the ability to embed or apply combinations of natural plant DNA to globally patented products and applications. Proprietary production techniques process, encapsulate en·cap·su·late v. 1. To form a capsule or sheath around. 2. To become encapsulated. en·cap , protect, and stabilize plant DNA, then use the unique characteristics and combinations of these DNA sequences as a tool to differentiate and verify authenticity. There are hundreds of millions of base codes by combining and manipulating specific DNA from up to five plants. By amplifying the DNA sequences during analysis, the company is able to isolate and combine a unique string of DNA codes that become a fingerprint or traceable markings for any product. The technology is virtually impossible to replicate. Embedded-DNA can be applied to specific media such as ink, paint, glue, and polymers labels and incorporated into microchips. In doing this, the characteristics of DNA are used to tag and distinguish genuine products from counterfeits. The system of production ensures that DNA can remain stable for up too 100 years. This technology is applicable to a multitude of products such as pharmaceuticals, textiles, aviation and auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
About Vertical Capital Partners Vertical Capital Partners, Inc. (VCPI (Virtual Control Program Interface) A programming interface that allowed DOS-extended programs and Real Mode programs to run together in 386s. It was developed primarily by Quarterdeck to allow its DESQview multitasker to run DOS-extended programs. ), was founded in 1995, and has been the lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. and investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. for select publicly traded and private companies and has a unique specialization for assisting those in the small-cap sector. VCPI arranges one-on-one meetings for its companies with pre-qualified money managers, Accredited Investors, Funds and other funding sources. About Applied DNA Sciences, Inc. Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security applications, using non-human DNA, that verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America and Europe with Biowell Technology, Inc. (http://www.biowell.com.tw/eng) of Taiwan. The company develops, markets, and sub-licenses DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences' technology addresses the more than $350 billion of counterfeit products sold each year as well as the multi-billion dollar homeland security market. Applied DNA Sciences' headquarters is located at 9255 West Sunset Boulevard, Los Angeles, CA 90069. Tel: 310.860.1362; Fax: 310.860.1303; or visit www.ADNAS.com. The statements made by Applied DNA Sciences, Inc. (the Company) may be forward-looking in nature and are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements describe the Company's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA Sciences, Inc. Actual results could differ materially from those projected due to changes in interest rates, market competition, changes in the local and national economies, and various other factors. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events. Visit: www.anti-terrorism.com. |
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