Paracelsian Inc (PRLN) Message Board

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Biotech / Medical : Paracelsian Inc (PRLN)

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To: Elllk who wrote (1691)	2/12/1997 9:32:00 PM
From: Jonathan Schonsheck	of 4342

Dear Larry, Rick and Bill (#1672) - I'm not convinced that Travellers has added significantly to their position. 1. The Form 13-G notes that the figure of 2.4 million includes warrants. As I understand the matter, warrants were included in the first two direct transactions. (So that figure represents what Travellers would have, if all warrants were exercised.) 2. If you look at the total volume in 1997, prior to this week: the total is pretty close to a million shares. And we know that there were other buyers . . .. (I do not see how they could have accumulated another million shares by that mechanism.) Nonetheless, Rivkin's position so large that he must have an interest in the company's success. On a related topic: I do not believe that Travellers could be accumulating shares for a quick profit. This is too close to the "hype and dump" scenario that I argued was implausible in #1615. If there's any hint that Travellers invites companies to the Conference only to subsequently sell a significant block of shares, their credibility evaporates. Don't stop thinking about tomorrow! Jonathan

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