Newsgroup: it.economia.borsa.estero
Titolo: .VRA

l'ho trovato nerl board di yahoo e lo incollo cosi' com'e'.
forse e' la trascrizione delle dichiarazioni dell'a.d. o qualcosa di simile
ci sono delle perdite...
=========================================
PERHAPS EARNINGS WILL LOOK SOMETHING LIKE THIS .... LAST QTR'S FILING...
We believe that our cash and cash equivalents and working capital are not
sufficient to meet our operating requirements through the end of fiscal
2003. Our operating losses and working capital requirements continue to
adversely affect cash flow. We intend to continue financing our operations
for the foreseeable future from additional private investment placements and
debt financings. In the event of our inability to raise capital, or a lack
of expanded revenue from the sale of our natural human alpha interferon
product, we will likely be unable to meet our operating requirements through
the end of fiscal 2003. In this event we would be required to significantly
curtail or suspend a portion or all of our operations.
We have experienced losses and a negative cash flow from operations since
inception. For the fiscal years ended June 30, 2002, 2001 and 2000 we
incurred losses of approximately $11,089,000, $11,008,000 and $12,311,000,
respectively. At March 31, 2003 we had an accumulated deficit of
approximately $96,120,000.
We have over $3mil inventoery of Multiferon"
For the fiscal year ended June 30, 2002, the report of our independent
auditors contains an explanatory paragraph indicating substantial doubt as
to our ability to continue as a going concern, due to our financial
condition. Our financial condition has not improved subsequent to our fiscal
year end. If we are unable to raise sufficient equity or debt financing, it
would be necessary for us to significantly curtail or suspend a portion or
all of our operations. Further, sufficient funding may not be available to
finance current or future scientific collaborations, planned marketing
efforts or planned plant facility expansions or modifications.
As of March 31, 2003, we had on-hand approximately $69,000 in cash. As of
March 31, 2003, we had a working capital deficit of approximately $1,930,000
compared to a working capital deficit of approximately $389,000 as of June
30, 2002. The increase in our working capital deficit of approximately
$1,541,000 compared to the previous fiscal year end balance was due
primarily to the use of cash to fund operating activities totaling
approximately $6,194,000, capital expenditures totaling approximately
$351,000 and the repayment of convertible debentures, short term borrowings
and long term debt of approximately $1,546,000. These amounts were partially
offset by approximately $7,211,000 raised through private equity placements
and the issuance of convertible debentures.
During the nine months ended March 31, 2003, we sold 10,609,776 shares of
our common stock to institutional investors at prices ranging from $0.15 to
$0.66 for an aggregate amount of approximately $2.7 million, net of finders
fees and related expenses. During the nine months ended March 31, 2003, we
also issued approximately 3.6 million shares of our common stock upon the
exercise of common stock purchase warrants at prices ranging from $0.01 to
$0.20 resulting in net proceeds to us of approximately $49,400.
From July 1, 2002 through October 1, 2002 we made four cash payments
totaling approximately $1.1 million, which represented the monthly principal
installments, plus interest accrued including a five percent premium, on the
debentures held by Elliott International, L.P. and Elliott Associates, L.P.
These debentures were issued on January 15, 2002. In November and December
2002, we issued 1,478,264 and 1,829,600 shares of our common stock
representing payment of the November and December installments due on the
convertible debentures, respectively. These debentures have been paid in
full and no further amounts are due on these debentures.

sul board di yahoo dicono che sta per uscire la news di un grosso contratto.
E I VOLUMI SONO BUONI: 1/2 MILIONE DOPO MEZZORA
=======================================================
WE KNOW ABOUT A BIG CONTRACT IS COMING SOON AND THEN VRA FLY DOUBLE!
TAKE IT EASY!