For anyone following PBP-TO,Procyon Biopharma,here's a paste from another thread:
As with Vasogen, in this earnings-are-everything environment, the accountants are not helpful to any of the
junior biotechs, including Procyon Biopharma (PBP-TSE, $1.35, 514-685-9283,
www.procyonbiopharma.com)."
"Despite the important progress being demonstrated, and the fact that the company had already received
$5 million of the recent $20.4 million financing, total assets at June 30, 2000, were only $7.46 million."
"Adding to the average investor's confusion is the sad appearance of the shareholders' equity account,
sporting a deficit of $11 million. Why would anyone want to buy or hold this stock? Is it really not possible to
come up with a financial statment that could be more helpful?"
"Despite the fact that the financial statements of both these companies are virtually useless in determining
their investment merits - and in fact do a disservice by misleading the average investor - both equities have
exceptional investment merit around current prices." - end of article
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