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Biotech / Medical : Paracelsian Inc (PRLN)

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To: richard davis who wrote (3102)	8/20/1997 1:27:00 PM
From: Harold Stone	of 4342

Rick, Sorry I couldn't get back to you sooner. > Am I wrong? < I don't think anyone on this thread has been completely wrong or right. Let me present my version of how I think this MIGHT have played out. Does water and oil mix? Don't think so. I think something happened between Rhodes and Babish maybe as far back as 1994. Personality conflicts, power struggle, ego's, and maybe non of the preceeding. No one but the participants know for sure. I for one don't really care. Rhodes decides the company isn't big enough for both of them and and he had the perfect way to turn the screws, Babish's new contract. His old contract expired on 9/30/94 and even though Babish tried to get Rhodes to negotiate the new contract he appears to have been almost ignored. After over two years of frustration Babish decides to sell stock. It appears personal financial needs were the great motivator and perhaps a good way to send a message to Rhodes and the board that he was getting tired of the BS. The company knew and the SEC filing informed the stockholders it wasn't a secret. Don't agree as you suggest that he dumped because of the FDA. I doubt it played very little if any part in his considerations. When Babish was finally presented with his new contract I think it was the straw that broke his back. The contract was not acceptable as far as he was concerned and he made the decision to resign. Why, when Rhodes and the board (IMO Rhodes Controlled) was forwarned that if he could not get an acceptable contract he would have to resign was he not offered one after over 21/2 years? His staying as a director would only have been symbolic. He was a member of the board and couldn't get an acceptable contract for himself how much do you think he could have accomplished for the company? Why would you want to loose the man who developed the technology that created the company. Wouldn't you want to have a lock on him for as long as possible? > Even if he wasn't happy about his salary, he stood to make it big time if Andro Vir and Androcar took off,< He still owns shares and could still make it big time but that doesn't change the fact he should be fairly compensated. If Rhodes is worth $195,000 how much is the man who started the company and developed the technology worth? Rick, AM I WRONG? Harold

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