Mad Cow Rules the Fate of Digital Angel

"We've had ongoing discussions over the last several years. We've been involved in the discussions that the USDA has had involving national identification over the last year, and a lot more since this Canadian case was discovered in May," said Nieuwsma.

After the Canadian outbreak did little to boost business, investor faith in the company has been damaged, and while the company has moved to replace its CEO and other key executive over the last few months, Talbot said its time for the company to make good on its promise.

"The new management will run the company much more judiciously and has better access to capital," said Talbot. "The company has one more chance to deliver on its promises and it better do it right."