Paracelsian Inc (PRLN) Message Board

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Biotech / Medical : Paracelsian Inc (PRLN)

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To: Harold Stone who wrote (2346)	4/13/1997 1:22:00 PM
From: John H. Farro	of 4342

Can Rhodes run the company? I honestly don't know. There have been some majorly stupid business decisions made in the past year and a half. In November 1995 there was a financing through the issuance of convertable stock which gave shorters a risk free way to drive the stock price down from $8 to $1 in a matter of months. The company lost quite a bit of money by trying to stop this downward momentum by buying back its stock at $5/share on the open market. The company also lost its rights to it's Ah immunoassay by signing it away for a song to Dow Environmental. I don't think they realized the ramifications of the deal they entered until it was too late. I don't know how much of the responsibility for these fiascos lies with Rhodes, though I have to think he must share at least partial blame. On the plus side, it was under Rhodes' leadership that PRLN acquired its library of Traditional Chinese medicines for screaning. I think Rhodes is about 69 years old. When I saw him at the stockholder's meeting last year I thought he was about 55 years old. He was quite vigorous and had the alertness and stamina of a much younger man. Still, I don't see how one person can run the company all by himself. He better get a replacement for Koch quickly. Relying on the health and well being of one man to carry the company is certainly risky. If anything does happen to him, what happens to the company? Of course, Rhodes isn't doing everything by himself. Paracelsian's PR firm is actively involved in planning the media campaign for AndroVir's rollout in May (or so they tell me.) And East West Herbs will be involved in manufacturing and marketing AndroVir. So will Rhodes, with the help of the PR firm and EWH be able to pull this off? Your guess is as good as mine. (I sure wish they had the AIDS doctor on board as promised.) By the way, I'm not sure I would call Paul's story a fable. It certainly does fit the facts that we know and it could very well explain what is going on. But it is not necessarily the only possible explanation, nor is it necessarily the correct explanation. I would just like to hear it verified by another source. There have been time's when Paul has been right on the mark with his predictions (he predicted they would extend the warrants.) At other times his predictions have been less accurate. I would feel better if I heard this coming from several sources. Robin

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