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Message: Re: Progress Report - Sciwag
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Apr 10, 2008 09:55AM

Apr 10, 2008 03:28PM

Sciwag,

Thanks for your post. I believe your approach to assessing success by comparing actual results to what was promoted a year ago is appropriate.

Until verifiable news is presented, there is no way to know what is fact, and what is fiction. How is Agrastim any different than NCS in terms of meeting customer expectations? I still have no clue why all of the LOIs concerning NCS and RFIDs evaporated. It's hard to imagine that there weren't trials; but, it's also hard to imagine that nothing newsworthy that came out of those trials. One may assume that it wasn't good news since there was never any follow-up from Nanopierce.

And regarding your last point concerning the sharing of dilution, I submit the following from the 2006 SB-2 filed by YTYA on 3/29/2006:

"The remaining 50% of BioAgra is owned by Justin Holdings, Inc., a
Florida corporation. Justin Holdings, Inc. is a holding company that currently has no other investments and no other substantial business activities other its ownership interest in BioAgra. All of the outstanding capital stock of Justin Holdings is owned by Neal Bartoletta, who also is the sole officer and director of Justin Holdings and holds the positions in BioAgra set forth above under the heading "-Management." Justin Holdings acquired a 50% ownership interest in BioAgra as the result of the assignment by Xact Resources of its membership interest in BioAgra in February of 2006."

I don't know if Mr. Bartoletta is still the only shareholder of Justin Holdings, nor do I know if he has contributed equally to BioAgra. It seems like that would be the fair thing, though. After all, why should Vyta shareholders be the only ones funding continuing operations? Maybe I have forgotten changes to this agreement, or maybe nothing has changed. In any event, I don't think it would be fair for Vyta shareholders to be the only ones contributing to the continued operation of BioAgra.

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Jun 22, 2008 07:45AM
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