Akers Biosciences Share Discussion Threads

[mcmather] 12/8/2014 23:03

Some notables of potential interest:

Administrative expenses Q2 2014 = $1,017,047

General and administrative expenses for the three months ended June 30, 2014, totaled $1,017,047, which was a 167% increase as compared to $381,011 for the three months ended June 30, 2013. The increase is related to personnel ($217,524 (2013: $45,001)), professional services ($114,915 (2013: $26,223)), stock market and investor relations activities ($165,636 (2013: $80,162)), travel ($24,269 (2013 $124)) and the issuance of stock options for Directors and Officers ($357,276 (2013: $-)).

On June 10, 2014 the Company approved issuance of 115,000 options to purchase common shares to Directors and Officers at an exercise price of $5.50 per common share and 60,000 options to purchase common shares to key employees at an exercise price of $3.98 per common share.

Aegis received an Underwriter/ing commission of $1,049,895

Mr. Nicolette has decided to step down from the Board and resigned from the Company effective March 28, 2014.

On December 23, 2013, the Company entered into a short-term bridge loan with Nicolette Consulting Group for $307,500, payable on January 15, 2014 with a 5% per annum interest rate. The transaction was recorded as a Short-Term Notes Payable – Related Party. The loan, with interest amounting to $969, was paid in full on January 15, 2014.

Trade receivables – related party as of June 30, 2014 and December 31, 2013 were amounts due from Chubeworkx, a major shareholder of the Company, of $1,475,767 and $1,209,388. The amount due is non-interest bearing, unsecured and has a term of 90 days generally. The Company and Chubeworkx have entered into discussions to modify the terms and conditions of these receivables.

On July 22, 2014, the Company settled the lawsuit filed by RBD (Note 17) for a one-time nominal payment which was paid on July 23, 2014.

Sales and marketing expenses for the three months ended June 30, 2014 totaled $396,609, which was a 125% increase as compared to $176,101 for the three months ended June 30, 2013. The increase was the result of general consulting services ($202,578 (2013: $2,075)) and the issuance of stock options for key employees ($48,081 (2013: $-)). The general consulting fees are for the development of sales and marketing programs and the exploration of governmental opportunities and additional international markets for our products.

Hendrick came on board 27 March 2014; sales of PIFA Heparin/PF4 Rapid Assay products (his primary – sole?? - concern at the moment) increased by 13% during the period to $333,608 (2013: $296,375); ie an increase of $37,233. How much was he / his team paid during Q2 2014?? This also from the T/S 19 Feb 2013; "The Company is also pleased to report that sales of its test for heparin-induced thrombocytopenia ("HIT"), PIFA Heparin/PF4, have continued to grow strongly with revenues for the first six weeks of 2013 exceeding those for the whole of the first quarter of 2012".

[werewolfie] 12/8/2014 20:04

Regarding the professional fees, im certain there was a large one off payment relating to the NASDAQ float - legal fees or something. But just a one off

[mcmather] 12/8/2014 11:11

ABI's gross profit margin, as a percentage of total revenue, improved to 70% for the six months ended June 30, 2014 as compared to 47% in H1 2013.....As the improvement in gross margin was in large part due to the REA product sales having no significant cost of sales attached, it should not be assumed that the gross profit margin will be maintained at this level in the future.

[aim_trader] 12/8/2014 11:11

Proactive Investor Forum - Raymond Akers, Executive Chairman to update investors on 3rd September. Speakers Include Tungsten, Akers Bioscience and ANGLE. REGISTRATION:

[mcmather] 12/8/2014 11:09

Revenue from Rapid Enzymatic Assay ("REA") products in the six months ended June 30, 2014 totaled $864,000 (2013: $-). This revenue is attributable to the Company's new distributor in Australia, Singapore, Oman and the United Arab Emirates, Thirty Six Strategies General Trading LLC ("36S"), which placed its first order with the Company during the period.

[mcmather] 12/8/2014 11:07

"and we are yet to see meaningful contributions from recent additional distribution channels established for this product during the first half of this year,"

[mcmather] 12/8/2014 11:07

On target re company being 'comfortable' with revenue at $5m for year:

Revenue for the six months ended June 30, 2014 was $2,527,076 (H1 2013: $2,661,669)

Revenue up $350K from Q1 2014

[mcmather] 11/8/2014 17:58

Akers Biosciences, Inc. (Nasdaq:AKER) (AIM:AKR.L), (the "Company" or "ABI"), a leading designer and manufacturer of rapid diagnostic screening and testing products, will hold a conference call on Tuesday, August 12, 2014, at 10:30 a.m. Eastern Time to discuss its results for the second quarter and six months ended June 30, 2014.

[mcmather] 11/8/2014 12:36

Thousands of lives could be saved by a £10 blood test that can tell in 30 minutes whether someone has had a heart attack.

[mcmather] 11/8/2014 12:35

The test, if brought to fruition, would initially be marketed in the professional healthcare setting, but Akers said it is simple enough to use that it could eventually be part of a routine health kit in the homes of consumers, after undergoing appropriate regulatory challenges.

"You never know," he said. "We are moving toward more OTC diagnostics, so certainly it could be something people could use at home. Hopefully, this will improve patient outcomes." – by Shirley Pulawski

[mcmather] 08/8/2014 16:51

Based on Q1 details, we might see Q2 results next week. Previous reference to fluctuating sales re the Chube device but noting that they are "comfortable" with annual revenue of $5m we should be seeing an increase on Q1 figures and agree azzi re interesting to see what effect the new sales strategy and the new sales director are having on the PIFA PF4 / Pluss device.

[jimjones1] 07/8/2014 21:06

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[azzi] 07/8/2014 20:50

Agree, interesting. And yes McMather, I am still invested in AKR. I would like some update on any increased take up of the PIFA PF4 "flagship" product given the recent initiatives.

[werewolfie] 05/8/2014 21:09

Im happy about this as well - this guy has an impressive record, just like Mr Hendrick

hxxp://ir.akersbiosciences.com/releasedetail.cfm?ReleaseID=835942

[rivaldo] 05/8/2014 10:02

Impressive appointment today:



"5 August 2014

Akers Appoints New Vice President of International Sales and Marketing to Build International Business

Akers Biosciences, Inc. (Nasdaq: AKER) (LSE: AKR) (the "Company" or "Akers"), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces the appointment of Nicolas Daurel as Vice President of International Sales and Marketing for Europe, the Middle East and Africa ("EMEA"). Mr. Daurel has a twenty year track-record of successfully building and managing the sales of medical devices in EMEA, particularly within the coagulation sector.

In addition to Akers' ongoing upscaling of domestic sales and marketing capacity in the U.S., the Company is committed to building international sales of its diagnostic assays in markets where existing tests do not effectively fulfil clinical requirements or where an emerging unfulfilled need for certain tests has been identified.

Mr. Daurel will be based in Paris, France and will have managerial responsibility for opening up new distribution channels in EMEA for the Company's core products. His initial focus will be upon PIFA Heparin/PF4 and PIFA PLUSS Infectious Disease rapid assays.

Recently, Mr. Daurel acquired a substantial interest in AJC Medical, a Paris-based company supplying medical equipment for use at home or in healthcare facilities. He joins Akers having successfully achieved his objective of establishing AJC Medical as a profitable entity.

Prior to his work with AJC Medical, Mr. Daurel was Head of International Sales and Marketing for Trinity Biotech Plc ("Trinity"), a public company specializing in the development, manufacture and marketing of clinical diagnostic products. During his time with Trinity, Mr. Daurel was responsible for all coagulation business (excluding the U.S. market) and successfully established and managed distribution partnerships throughout EMEA, Latin America and Asia Pacific.

From 1999 until shortly after its US$7 billion acquisition by Siemens AG in 2007, Mr. Daurel held various positions with Dade Behring, a U.S.-headquartered manufacturer of equipment for the medical diagnostics industry. During his time with Dade Behring, among other responsibilities, Mr. Daurel managed the Infectious Disease segment of their business, implementing multiple new products, and ultimately becoming Dade Behring's regional sales manager for France, contributing sales of approximately €25 million annually.

Mr. Daurel began his career in 1994 with Stago, an international manufacturer of testing systems within the haemostasis sector.

"Nicolas Daurel is the first full-time international VP at Akers to be wholly dedicated to building non-domestic sales," said Raymond F. Akers Jr., Ph.D, Executive Chairman. "He has a track-record of building sales through distribution partners which is precisely Akers' strategy for Europe, the Middle East and Africa," continued Dr. Akers.

Mr. Daurel added: "My experience specifically with coagulation and infectious disease products is very relevant to Akers Biosciences. I have a deep understanding of the market opportunity in my regions for the flagship PIFA Heparin/PF4 products and for the PIFA Infectious Disease product lines.

"I have been tracking the progress of the Company for a number of years and believe, with Akers' proprietary technology and the tests which have been developed, that we are on the cusp of unlocking a very substantial opportunity in point-of-care diagnostics.""

[werewolfie] 01/8/2014 18:47

That simply isn't the big picture as the chart doesn't consider the impressive future prospects

Where in the chart does it tell you about NASDAQ float and the resulting commercialisation of their products and the numerous distribution deals being signed in a number of countries?

Or the hiring of a new sales director with an impressive track record, the diverse number of products both launched/developed and the most recent news on the heart attack study?

Or that a number of larger companies have expressed interest in buying Akers?

[buywell2] 01/8/2014 16:38

Try this one then


The big picture

[werewolfie] 30/7/2014 19:21

Norbus - once you were a cynic, now a symbol of hope and light! Although in the past you had good reason.

Now we have Bellwhiff, Prophet of Doom as our resident cynic and his "arguments" arent as convincing as yours.

[norbus] 30/7/2014 13:07

sounds very promising

[mcmather] 30/7/2014 12:44

This is the kind of thing that rivals will watch, because the current standard of care to measure cardiac muscle tissue damage can take 20 to 30 minutes in a laboratory......

Konica Minolta, meanwhile, is following a trend among Japanese conglomerates including Sony and Samsung of boosting their investment in med tech product development. Konica Minolta is focused generally on business technologies used in manufacturing as well as products including digital X-ray diagnostic imaging systems.

[mcmather] 29/7/2014 16:12

There's very little stock in the UK and which is also held by a small number of investors hence why the small overall difference between sales and buys has seen the share price fall.

[rivaldo] 29/7/2014 16:02

That's keen - a buy just reported at 260p when the offer price was 235p, and the price moved up immediately. Not much stock around?

[mcmather] 29/7/2014 14:52

Aye. Also for any pi looking very long term, Akers have previously said that they would not be against selling part or even all of the company to a suitor - including intellectual properties - a few years down the line when value has been realised....

[rivaldo] 29/7/2014 14:47

Cheers mcmather. It's also worth stressing that Konica are FUNDING the test too, so only upside and no downside for AKR.

[mcmather] 29/7/2014 13:12

Re Konica Minolta / from the interview:

A very large diagnostic company with many laboratory based products and point of care tests.

Corporate strategy to now rapidly grow their POC testing business.

Would be the world's first with regard to diagnosis of a heart attack in real time.

Happy for Konica Minolta to market this test for us.

Biomarkers already identified.

Immediately begin several months work.

Important to note that the Company will retain all of its intellectual property rights related to the test being developed for Konica Minolta.