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Biotech / Medical : Paracelsian Inc (PRLN)
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To: richard davis who wrote (2774)5/14/1997 8:45:00 PM
From: John H. Farro   of 4342
 
Rick, if there is a legal battle going on over the heart and soul of PRLN, I believe Babish will win eventually. Rhodes has been feeding the shareholders lies and half truths. I think the courts will see through this. However, I think there is a good chance that this will be a Pyrrhic victory. Lawsuits can be quite expensive and this could be eating into PRLN's cash. It is also possible for lawsuits to take a good amount of time to wind their way through the courts and time is something that is not on PRLN's side. It is very possible that Babish could win control of PRLN but there will be too little money left to launch a product. Perhaps if Babish wins control of the company and issues a long release explaining all the screw ups of the past year and why they won't happen again, the stock price will pop up and they could finance themselves through an offering. But it is just as possible that the market will be unimpressed after all this time and the price won't rise significantly. Perhaps they will be able to borrow money, but I think it will be difficult for them to find lenders because this would be a risky loan. Whether Babish will be able to pull this out will depend largely on what resources are left for him to work with. My crystal ball is too hazy to make any predictions.

Robin
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