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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 22.47

+3.5%

3:59 PM EST

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To: Nick who wrote (3061)	6/12/1998 6:51:00 PM
From: Robin	of 5736

Nick, In the overall scheme of things, it does not matter. As I said in my post #3052, the big return for SPRX is in products related to diabetic maintenance. The maintenance of diabetes represents the largest disposable market in the US medical industry as well as throughout the world, and the first to successfully develop and market a minimally or non-invasive product for diabetes will take over the majority of the market. The bilirubin market is small potatoes compared to this and this is where the payoff in SPRX will come if they are successful. For the record, I do not consider SPRX worth $7/share for the 'bili' product solely and also do not consider CCSI worth it's present $7 as well based solely on this product and any others they might develop. The major difference to me right now is who has enough money to get out product #2 if their 'bili' product either doesn't work or has a market that doesn't materialize to their expectations. For SPRX, there is enough cash in the bank to get them there. 'Bili' represents a small amount of revenue and well needed experience on the way to developing a product for diabetes. For CCSI, the 'bili' product had better work and the market had better materialize, or it's 'Good-Bye, Money'! As for CCSI being in the final stages of the deal, at this point I would consider Darby fortunate if she could manage to find a company that would acquire CCSI, that's the deal I would look for if I were long. Is there no market for Colormate or Bilichek? No. It's just that the bilirubin market simply does not justify a price of $7/share for either SPRX or CCSI. Nick, why not consider swapping your CCSI position for SPRX 1:1 on Monday. I am sure if you do (assuming CCSI isn't under attack again) you will thank me some day. Just wish they were writing puts on this thing! Woulda' bought em when CCSI was at $13. Rockin' Robin

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