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Biotech / Medical : Paracelsian Inc (PRLN)

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To: Hank who wrote (3312)	9/21/1997 10:45:00 PM
From: Jonathan Schonsheck	of 4342

Dear Threaders, I was going to begin by saying that "I don't want to be a wet blanket." But upon further reflection, that's precisely what I want to be. 1. As I see it, the Board has merely played "musical chairs." Keith is gone, but he isn't; we have a new Chair, but we don't. (Recall my warning: Everything has changed, nothing has changed.) And since Nikolas is in New York City, and Rhodes is in Ithaca . . .. 2. Tachovsky--whatever his qualifications--(i) is merely the "acting" President (whatever that means), and (ii) serves (as does any President) at the pleasure of the Board. And it's the same old Board. So far there has been no indication that there has been a change in agenda: from self-serving, to serving the interests of stockholders. 3. I shall be able to keep my euphoria well in check until--unless--I see two major developments: that Tachovsky has the ability to raise large amounts of money that Tachovsky has the ability to spend large amounts of money constructively: on the successful launch of the initial product, and on the sorts of research that will lead to successive launches. Jonathan

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