Listing Profile Bid History Loan History
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Listing Title


Loan Information
Loan Status: Paid Origination Date: 2006-05-03 Payments Made: 2 of 36 Total Payments: $1641.42 / $25000.00

Listing Summary

  

Borrower Info
Requested Amount: $25000.00
Lender Rate: 11.00%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $818.47
 
Borrower: MidasMulligan
Location: IN
Group: johngalt
Group Fee: 0.00%

Credit Profile
Credit Grade: AA Homeowner: No Account Verified: Yes Debt To Income: 14%

Extended Credit Data
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Listing Description
I am a tenured associate professor at a major research university. As such, my salary should be secure for life and certainly is for the life of this loan. I have never missed a payment in my life and you should not have any concerns about my being able to repay the loan. I am asking for the money to help pay for the one great, seemingly self destructive vice of my life. I am totally in love with a small, development stage biotech company called the Sontra Medical Corporation. To date, investing in Sontra has been nothing but a money losing proposition. It is possible it will go to zero in the very near future. (The company is facing NASDAQ delisting. It will soon undergo a reverse split to try to combat this. It needs financing before the end of the year.) I am requesting this loan in order to buy more shares. The Sontra Medical Corporation works on transdermal drug delivery and diagnosis. That is, they would like to be able to give shots and take blood chemistry tests (notably for glucose) without breaking the skin. They have an approved product for topical anesthesia which has not garnered much commercial interest. They are working on a continuous non-invasive glucose monitor for clinical care. They also have some long-term research projects in vaccine delivery and sports medicine. If they get a foothold somewhere, or good financing there is a potential for a long term product pipeline. The technology is real. It was developed in the labs of MIT engineer Robert Langer (a member of three national academies) and he is a cofounder and board member of the company. To learn more, you can go to http://www.sontra.com. The stock price of Sontra, which trades on the NASDAQ small cap, is at an all time low. This is in part because Sontra missed some milestones: bad sales, a couple of bad vaccine trials, a failure on the part of Bayer to provide an expected milestone payment. Partly the share price is low, because it has been low for a long time and daytraders find it an easy target for attack. To sample daytrader sentiment, look at http://messages.yahoo.com/?action=q&board=SONT . People who trade in penny stocks normally don't care about the product or the company they are dealing with. They just care what kind of price manipulation they can expect to occur. On the other hand, people with a longer view, like Prosper lenders, would not take so great a risk as to buy shares of Sontra. By investing in this loan, you can get basically a guaranteed return and still help out Sontra. It is win, win, and I assume all the risk,