UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10QSB
|
x
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
|
|
o
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the
Quarterly period ended June 30, 2007
Commission
file number 002-90519
APPLIED
DNA SCIENCES, INC.
(Exact
name of registrant as specified in its charter)
|
Nevada
|
59-2262718
|
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
|
incorporation
or organization)
|
Identification
Number)
|
|
25
Health Sciences Drive, Suite 113
|
|
|
Stony
Brook, New York
|
11790
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
(631)
444-6861
(Registrant’s
telephone number, including area code)
|
·
|
Indicate
by check mark whether the registrant (1) filed all reports required
to be
filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during
the last 12 months (or for such shorter period that the registrant
was
required to file such reports), and (2) has been subject to such
filing
requirements for the past 90
days.
|
Yes x Noo
|
·
|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). |
Yes o No
x
|
·
|
The
number of shares of Common Stock, $0.001 par value, outstanding
on August
17, 2007, was approximately
160,499,549.
|
| · |
Transitional
Small Business Disclosure Format (check
one):
|
Yes o No
x
|
APPLIED
DNA SCIENCES,
INC
|
|||
|
QUARTERLY
REPORT ON FORM 10-QSB FOR THE
|
|||
|
QUARTERLY
PERIOD ENDING JUNE 30, 2007
|
|||
|
Table
of Contents
|
|||
| PART I. FINANCIAL INFORMATION | |||
| Item 1. Financial Statements | |||
|
Condensed
Consolidated Balance Sheet: June 30, 2007 (Unaudited)
|
1
|
||
|
Condensed
Consolidated Statements of Losses:
Three
Months Ended June 30, 2007 and 2006 (Unaudited) and the Period from
September 16, 2002 (Date of Inception) Through June 30, 2007
(Unaudited)
|
2
|
||
|
Condensed
Consolidated Statement of Stockholder’s Equity (Deficiency):
For
the Period from September 16, 2002 (Date of Inception) Through June
30,
2007 (Unaudited)
|
3
|
||
|
Condensed
Consolidated Statements of Cash Flows:
Three
Months Ended June 30, 2007 and 2006 (Unaudited) and the Period from
September 16, 2002 (Date of Inception) Through June 30, 2007
(Unaudited)
|
17
|
||
|
Notes
to Unaudited Condensed Consolidated Financial Information: June 30,
2007
|
19-42
|
||
| Item 2. Management’s Discussion and Analysis |
43
|
||
| Item 3 Controls and Procedures |
60
|
||
| PART II. OTHER INFORMATION | |||
| Item 1. Legal Proceedings |
62
|
||
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
63
|
||
| Item 3. Defaults Upon Senior Securities |
63
|
||
| Item 4. Submission of Matters to a Vote of Security Holders |
63
|
||
| Item 5. Other Information |
63
|
||
|
|
Item 6. Exhibits |
63
|
|
| Signatures |
64
|
||
-i-
ITEM
1.
FINANCIAL STATEMENTS (UNAUDITED)
|
APPLIED
DNA SCIENCES, INC.
|
||||
|
(A
Development stage company)
|
||||
|
CONDENSED
CONSOLIDATED BALANCE SHEET
|
||||
|
(unaudited)
|
||||
|
June
30,
|
||||
|
2007
|
||||
|
ASSETS
|
||||
|
Current
assets:
|
||||
|
Cash
|
$
|
34,792
|
||
|
Prepaid
expenses
|
138,875
|
|||
|
Total
current assets
|
173,667
|
|||
|
Property,
plant and equipment-net of accumulated depreciation of
$67,497
|
120,865
|
|||
|
Other
assets:
|
||||
|
Deposits
|
13,822
|
|||
|
Capitalized
finance costs-net of accumulated amortization of
$1,641,988
|
65,612
|
|||
|
Intangible
assets:
|
||||
|
Patients,
net of accumulated amortization of $23,732 (Note B)
|
10,525
|
|||
|
Intellectual
property, net of accumulated amortization and write off of $7,611,943
(Note B)
|
1,818,957
|
|||
|
Total
Assets
|
$
|
2,203,448
|
||
|
LIABILITIES
AND DEFICIENCY IN STOCKHOLDERS' EQUITY
|
||||
|
Current
liabilities:
|
||||
|
Accounts
payable and accrued liabilities
|
$
|
8,976,675
|
||
|
Convertible
notes payable, net of unamortized discount (Note D)
|
1,745,855
|
|||
|
Total
current liabilities
|
10,722,530
|
|||
|
Debt
derivative and warrant liability
|
4,468,404
|
|||
|
Commitments
and contingencies (Note J)
|
||||
|
Deficiency
in Stockholders' Equity- (Note F)
|
||||
|
Preferred
stock, par value $0.0001 per share; 10,000,000 shares authorized;
60,000
issued and outstanding
|
6
|
|||
|
Common
stock, par value $0.001 per share; 410,000,000 shares authorized;
160,499,549 issued and outstanding
|
160,499
|
|||
|
Additional
paid in capital
|
87,420,306
|
|||
|
Accumulated
deficit
|
(100,568,297
|
)
|
||
|
Total
deficiency in stockholders' equity
|
(12,987,486
|
)
|
||
|
Total
liabilities and Deficiency in Stockholders' Equity
|
$
|
2,203,448
|
||
|
See
the accompanying notes to the consolidated financial
statements
|
||||
-1-
|
APPLIED
DNA SCIENCES, INC.
|
||||||||||||||||
|
(A
DEVELOPMENT STAGE COMPANY)
|
||||||||||||||||
|
CONDENSED
CONSOLIDATED STATEMENTS OF LOSSES
|
||||||||||||||||
|
(unaudited)
|
||||||||||||||||
|
From
September 16, 2002
|
||||||||||||||||
|
For
the three months Ended June 30,
|
For
the nine months Ended June 30,
|
(Date
of Inception)
|
||||||||||||||
|
2007
|
2006
|
2007
|
2006
|
Through
June 30, 2007
|
||||||||||||
|
RESTATED
|
RESTATED
|
|||||||||||||||
|
Sales
|
$
|
-
|
$
|
18,900
|
$
|
-
|
$
|
18,900
|
$
|
18,900
|
||||||
|
Cost
of sales
|
-
|
(15,639
|
)
|
-
|
(15,639
|
)
|
15,639
|
|||||||||
|
Gross
Profit
|
-
|
3,261
|
-
|
3,261
|
3,261
|
|||||||||||
|
Operating
expenses:
|
||||||||||||||||
|
Selling,
general and administrative
|
1,968,642
|
1,580,967
|
6,012,028
|
4,391,305
|
86,077,987
|
|||||||||||
|
Research
and development
|
25,504
|
-
|
94,289
|
75,276
|
1,124,888
|
|||||||||||
|
Impairment
of intangible asset(s)
|
-
|
-
|
-
|
-
|
5,655,011
|
|||||||||||
|
Depreciation
and amortization
|
108,357
|
336,824
|
324,594
|
1,021,199
|
2,054,320
|
|||||||||||
|
Total
operating expenses
|
2,102,503
|
1,917,791
|
6,430,912
|
5,487,780
|
94,912,207
|
|||||||||||
|
NET
LOSS FROM OPERATIONS
|
(2,102,503
|
)
|
(1,914,530
|
)
|
(6,430,912
|
)
|
(5,484,519
|
)
|
(94,908,946
|
)
|
||||||
|
Net
gain (loss) in revaluation of debt derivative and warrant
liabilities
|
4,431,421
|
3,493,961
|
142,131
|
14,250,621
|
33,687,958
|
|||||||||||
|
Other
income
|
(0
|
)
|
8,483
|
977
|
17,976
|
111,807
|
||||||||||
|
Interest
expense
|
(520,963
|
)
|
(826,827
|
)
|
(1,945,702
|
)
|
(3,177,229
|
)
|
(39,459,116
|
)
|
||||||
|
Net
income (loss) before provision for income taxes
|
1,807,954
|
761,087
|
(8,233,506
|
)
|
5,606,849
|
(100,568,297
|
)
|
|||||||||
|
Income
taxes (benefit)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||
|
NET
INCOME (LOSS)
|
$
|
1,807,954
|
$
|
761,087
|
$
|
(8,233,506
|
)
|
$
|
5,606,849
|
$
|
(100,568,297
|
)
|
||||
|
Net
income (loss) per share-basic
|
$
|
0.01
|
$
|
0.01
|
$
|
(0.07
|
)
|
$
|
0.05
|
|||||||
|
Net
loss per share-assuming fully diluted-Note A
|
$
|
(0.02
|
)
|
$
|
(0.02
|
)
|
$
|
(0.04
|
)
|
|||||||
|
Weighted
average shares outstanding-
|
||||||||||||||||
|
Basic
|
132,310,413
|
118,582,385
|
124,844,409
|
115,852,521
|
||||||||||||
|
Fully
diluted
|
170,056,948
|
177,501,849
|
162,590,944
|
181,716,985
|
||||||||||||
|
See
the accompanying notes to the consolidated financial
statements
|
||||||||||||||||
-2-
|
APPLIED
DNA SCIENCES, INC
|
||||||||||||||||||||||||||||
|
(A
development stage company)
|
||||||||||||||||||||||||||||
|
CONDENSED
CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY,
(DEFICIENCY)
|
||||||||||||||||||||||||||||
|
FOR
THE PERIOD SEPTEMBER 16, 2002 (DATE OF INCEPTION) THROUGH JUNE
30,
2007
(unaudited)
|
||||||||||||||||||||||||||||
|
Deficit
|
||||||||||||||||||||||||||||
|
Additional
|
Accumulated
|
|||||||||||||||||||||||||||
|
Preferred
|
Paid
in
|
Common
|
Stock
|
During
|
||||||||||||||||||||||||
|
Preferred
|
Shares
|
Common
|
Common
Stock
|
Capital
|
Stock
|
Subscription
|
Development
|
|||||||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
Amount
|
Subscribed
|
Receivable
|
Stage
|
Total
|
||||||||||||||||||||
|
Issuance
of common stock
|
||||||||||||||||||||||||||||
|
to
Founders in exchange
|
||||||||||||||||||||||||||||
|
for
services on September
|
||||||||||||||||||||||||||||
|
16,
2002 at $.01 per share
|
-
|
-
|
100,000
|
$
|
10
|
$
|
990
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
1,000
|
|||||||||||||
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(11,612
|
)
|
(11,612
|
)
|
|||||||||||||||||
|
Balance
at September 30, 2002
|
-
|
$
|
-
|
100,000
|
$
|
10
|
$
|
990
|
$
|
-
|
$
|
-
|
$
|
(11,612
|
)
|
$
|
(10,612
|
)
|
||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
connection
with merger with
|
||||||||||||||||||||||||||||
|
Prohealth
Medical Technologies,
|
||||||||||||||||||||||||||||
|
Inc
on October 1, 2002
|
-
|
-
|
10,178,352
|
1,015
|
-
|
-
|
-
|
-
|
1,015
|
|||||||||||||||||||
|
Cancellation
of common stock
|
||||||||||||||||||||||||||||
|
in
connection with merger with
|
||||||||||||||||||||||||||||
|
Prohealth
Medical
|
||||||||||||||||||||||||||||
|
Technologies,
Inc on October
|
||||||||||||||||||||||||||||
|
21,
2002
|
-
|
-
|
(100,000
|
)
|
(10
|
)
|
(1,000
|
)
|
-
|
-
|
-
|
(1,010
|
)
|
|||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for services in
|
||||||||||||||||||||||||||||
|
October
2002 at $0.65 per
|
||||||||||||||||||||||||||||
|
share
|
-
|
-
|
602,000
|
60
|
39,070
|
-
|
-
|
-
|
39,130
|
|||||||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for subscription in
|
||||||||||||||||||||||||||||
|
November
and December 2002
|
||||||||||||||||||||||||||||
|
at
$0.065 per share
|
-
|
-
|
876,000
|
88
|
56,852
|
-
|
(56,940
|
)
|
-
|
-
|
||||||||||||||||||
|
Cancellation
of common stock
|
||||||||||||||||||||||||||||
|
in
January 2003 previously
|
||||||||||||||||||||||||||||
|
issued
in exchange for
|
||||||||||||||||||||||||||||
|
consulting
services
|
-
|
-
|
(836,000
|
)
|
(84
|
)
|
(54,264
|
)
|
-
|
54,340
|
-
|
(8
|
)
|
|||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for licensing services
|
||||||||||||||||||||||||||||
|
valued
at $0.065 per share in
|
||||||||||||||||||||||||||||
|
January
2003
|
-
|
-
|
1,500,000
|
150
|
97,350
|
-
|
-
|
-
|
97,500
|
|||||||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for consulting
|
||||||||||||||||||||||||||||
|
services
valued at $0.13 per
|
||||||||||||||||||||||||||||
|
share
in January 2003
|
-
|
-
|
586,250
|
58
|
76,155
|
-
|
-
|
-
|
76,213
|
|||||||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for consulting
|
||||||||||||||||||||||||||||
|
services
at $0.065 per share in
|
||||||||||||||||||||||||||||
|
February
2003
|
-
|
-
|
9,000
|
1
|
584
|
-
|
-
|
-
|
585
|
|||||||||||||||||||
|
Issuance
of common stock to
|
||||||||||||||||||||||||||||
|
Founders
in exchange for
|
||||||||||||||||||||||||||||
|
services
valued at $0.0001 per
|
||||||||||||||||||||||||||||
|
share
in March 2003
|
-
|
-
|
10,140,000
|
1,014
|
-
|
-
|
-
|
-
|
1,014
|
|||||||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for consulting
|
||||||||||||||||||||||||||||
|
services
valued at $2.50 per
|
||||||||||||||||||||||||||||
|
share
in March 2003
|
-
|
-
|
91,060
|
10
|
230,624
|
-
|
-
|
-
|
230,634
|
|||||||||||||||||||
-3-
|
APPLIED
DNA SCIENCES, INC
|
||||||||||||||||||||||||||||
|
(A
development stage company)
|
||||||||||||||||||||||||||||
|
CONDENSED
CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY,
(DEFICIENCY)
|
||||||||||||||||||||||||||||
|
FOR
THE PERIOD SEPTEMBER 16, 2002 (DATE OF INCEPTION) THROUGH JUNE
30,
2007
(unaudited)
|
||||||||||||||||||||||||||||
|
Deficit
|
||||||||||||||||||||||||||||
|
Additional
|
Accumulated
|
|||||||||||||||||||||||||||
|
Preferred
|
Common
|
Paid
in
|
Common
|
Stock
|
During
|
|||||||||||||||||||||||
|
Preferred
|
Shares
|
Common
|
Stock
|
Capital
|
Stock
|
Subscription
|
Development
|
|||||||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
Amount
|
Subscribed
|
Receivable
|
Stage
|
Total
|
||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Issuance
of common stock in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
valued
at $0.065 per share in
|
||||||||||||||||||||||||||||
|
March
2003
|
-
|
-
|
6,000
|
1
|
389
|
-
|
-
|
-
|
390
|
|||||||||||||||||||
|
Common
stock subscribed in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $1 per
|
||||||||||||||||||||||||||||
|
share
in March 2003
|
-
|
-
|
-
|
-
|
18,000
|
-
|
-
|
-
|
18,000
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting
|
||||||||||||||||||||||||||||
|
services
at $0.065 per
|
||||||||||||||||||||||||||||
|
share
on April 1, 2003
|
-
|
-
|
860,000
|
86
|
55,814
|
-
|
-
|
-
|
55,900
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $1.00 per
|
||||||||||||||||||||||||||||
|
share
on April 9, 2003
|
-
|
-
|
18,000
|
2
|
-
|
-
|
-
|
-
|
2
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
$0.065 per share on April 9,
|
||||||||||||||||||||||||||||
|
2003
|
-
|
-
|
9,000
|
1
|
584
|
-
|
-
|
-
|
585
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
$2.50 per share on April 23,
|
||||||||||||||||||||||||||||
|
2003
|
-
|
-
|
5,000
|
1
|
12,499
|
-
|
-
|
-
|
12,500
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
$2.50 per share, on June 12,
|
||||||||||||||||||||||||||||
|
2003
|
-
|
-
|
10,000
|
1
|
24,999
|
-
|
-
|
-
|
25,000
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $1.00 per
|
||||||||||||||||||||||||||||
|
share
on June 17, 2003
|
-
|
-
|
50,000
|
5
|
49,995
|
-
|
-
|
-
|
50,000
|
|||||||||||||||||||
|
Common
stock subscribed in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $2.50 per
|
||||||||||||||||||||||||||||
|
share
pursuant to a private
|
||||||||||||||||||||||||||||
|
placement
on June 27, 2003
|
-
|
-
|
-
|
-
|
-
|
24,000
|
-
|
-
|
24,000
|
|||||||||||||||||||
|
Common
stock retired in
|
||||||||||||||||||||||||||||
|
exchange
for note payable
|
||||||||||||||||||||||||||||
|
at
$0.0118 per share,
|
||||||||||||||||||||||||||||
|
in
June 30, 2003
|
-
|
-
|
(7,500,000
|
)
|
(750
|
)
|
750
|
-
|
-
|
-
|
-
|
|||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
$0.065 per share, on June 30,
|
||||||||||||||||||||||||||||
|
2003
|
-
|
-
|
270,000
|
27
|
17,523
|
-
|
-
|
-
|
17,550
|
|||||||||||||||||||
|
Common
stock subscribed in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $1.00 per
|
||||||||||||||||||||||||||||
|
share
pursuant to a private
|
||||||||||||||||||||||||||||
|
placement
on June 30, 2003
|
-
|
-
|
-
|
-
|
-
|
10,000
|
-
|
-
|
10,000
|
|||||||||||||||||||
|
Common
stock subscribed in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $2.50 per
|
||||||||||||||||||||||||||||
|
share
pursuant to a private
|
||||||||||||||||||||||||||||
|
placement
on June 30, 2003
|
-
|
-
|
-
|
-
|
-
|
24,000
|
-
|
-
|
24,000
|
|||||||||||||||||||
-4-
|
APPLIED
DNA SCIENCES, INC
|
||||||||||||||||||||||||||||
|
(A
development stage company)
|
||||||||||||||||||||||||||||
|
CONDENSED
CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY,
(DEFICIENCY)
|
||||||||||||||||||||||||||||
|
FOR
THE PERIOD SEPTEMBER 16, 2002 (DATE OF INCEPTION) THROUGH JUNE
30,
2007
(unaudited)
|
||||||||||||||||||||||||||||
|
Deficit
|
||||||||||||||||||||||||||||
|
Additional
|
Accumulated
|
|||||||||||||||||||||||||||
|
Preferred
|
Common
|
Paid
in
|
Common
|
Stock
|
During
|
|||||||||||||||||||||||
|
Preferred
|
Shares
|
Common
|
Stock
|
Capital
|
Stock
|
Subscription
|
Development
|
|||||||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
Amount
|
Subscribed
|
Receivable
|
Stage
|
Total
|
||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
approximately $2.01 per
|
||||||||||||||||||||||||||||
|
share,
July 2003
|
-
|
-
|
213,060
|
21
|
428,798
|
-
|
-
|
-
|
428,819
|
|||||||||||||||||||
|
Common
stock canceled in July
|
||||||||||||||||||||||||||||
|
2003,
previously issued for
|
||||||||||||||||||||||||||||
|
services
rendered at $2.50 per
|
||||||||||||||||||||||||||||
|
share
|
-
|
-
|
(24,000
|
)
|
(2
|
)
|
(59,998
|
)
|
-
|
-
|
-
|
(60,000
|
)
|
|||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for options exercised
|
||||||||||||||||||||||||||||
|
at
$1.00 per share in July 2003
|
-
|
-
|
20,000
|
2
|
19,998
|
-
|
-
|
-
|
20,000
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for exercise of
|
||||||||||||||||||||||||||||
|
options
previously subscribed at
|
||||||||||||||||||||||||||||
|
$1.00
per share in July 2003
|
-
|
-
|
10,000
|
1
|
9,999
|
(10,000
|
)
|
-
|
-
|
-
|
||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
approximately $2.38 per
|
||||||||||||||||||||||||||||
|
Share
in August 2003
|
-
|
-
|
172,500
|
17
|
410,915
|
-
|
-
|
-
|
410,932
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for options exercised
|
||||||||||||||||||||||||||||
|
at
$1.00 per share in August 2003
|
-
|
-
|
29,000
|
3
|
28,997
|
-
|
-
|
-
|
29,000
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
approximately $2.42 per
|
||||||||||||||||||||||||||||
|
share
in September 2003
|
-
|
-
|
395,260
|
40
|
952,957
|
-
|
-
|
-
|
952,997
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $2.50 per
|
||||||||||||||||||||||||||||
|
share-subscription
|
||||||||||||||||||||||||||||
|
payable
in September 2003
|
-
|
-
|
19,200
|
2
|
47,998
|
(48,000
|
)
|
-
|
-
|
-
|
||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $2.50 per
|
||||||||||||||||||||||||||||
|
share
pursuant to a private
|
||||||||||||||||||||||||||||
|
placement
in September 2003
|
-
|
-
|
6,400
|
1
|
15,999
|
-
|
-
|
-
|
16,000
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for options exercised
|
||||||||||||||||||||||||||||
|
at
$1.00 per share in September 2003
|
-
|
-
|
95,000
|
10
|
94,991
|
-
|
-
|
-
|
95,001
|
|||||||||||||||||||
|
Common
stock subscription
|
||||||||||||||||||||||||||||
|
receivable
reclassification
|
||||||||||||||||||||||||||||
|
adjustment
|
-
|
-
|
-
|
-
|
-
|
-
|
2,600
|
-
|
2,600
|
|||||||||||||||||||
|
Common
Stock subscribed to
|
||||||||||||||||||||||||||||
|
at
$2.50 per share in September
|
||||||||||||||||||||||||||||
|
2003
|
-
|
-
|
-
|
-
|
-
|
300,000
|
-
|
-
|
300,000
|
|||||||||||||||||||
|
Net
Loss for the year
|
||||||||||||||||||||||||||||
|
ended
September 30, 2003
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,445,164
|
)
|
(3,445,164
|
)
|
|||||||||||||||||
|
Balance
at September 30, 2003
|
-
|
$
|
-
|
17,811,082
|
$
|
1,781
|
$
|
2,577,568
|
$
|
300,000
|
$
|
-
|
$
|
(3,456,776
|
)
|
$
|
(577,427
|
)
|
||||||||||
-5-
|
APPLIED
DNA SCIENCES, INC
|
||||||||||||||||||||||||||||
|
(A
development stage company)
|
||||||||||||||||||||||||||||
|
CONDENSED
CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY,
(DEFICIENCY)
|
||||||||||||||||||||||||||||
|
FOR
THE PERIOD SEPTEMBER 16, 2002 (DATE OF INCEPTION) THROUGH JUNE
30,
2007
(unaudited)
|
||||||||||||||||||||||||||||
|
Deficit
|
||||||||||||||||||||||||||||
|
Additional
|
Accumulated
|
|||||||||||||||||||||||||||
|
Preferred
|
Common
|
Paid
in
|
Common
|
Stock
|
During
|
|||||||||||||||||||||||
|
Preferred
|
Shares
|
Common
|
Stock
|
Capital
|
Stock
|
Subscription
|
Development
|
|||||||||||||||||||||
|
Shares
|
Amount
|
Shares
|
Amount
|
Amount
|
Subscribed
|
Receivable
|
Stage
|
Total
|
||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Preferred
shares issued in
|
||||||||||||||||||||||||||||
|
exchange
for services at $25.00
|
||||||||||||||||||||||||||||
|
per
share in October 2003
|
15,000
|
15
|
-
|
-
|
-
|
-
|
-
|
-
|
15
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for consulting services
|
||||||||||||||||||||||||||||
|
at
approximately $2.85 per
|
||||||||||||||||||||||||||||
|
Share
in October 2003
|
-
|
-
|
287,439
|
29
|
820,389
|
-
|
-
|
-
|
820,418
|
|||||||||||||||||||
|
Common
stock issued in
|
||||||||||||||||||||||||||||
|
exchange
for cash at $2.50 per
|
||||||||||||||||||||||||||||
|
share-subscription
|
||||||||||||||||||||||||||||
|
payable
in October 2003
|
-
|
-
|
120,000
|