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Biotech / Medical : Paracelsian Inc (PRLN)
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To: Rick Costantino who wrote (3315)9/22/1997 4:11:00 PM
From: Hank   of 4342
 
Rick,

You make some good points here but I think we can all assume that the Indian Herbs thing was a total farse. There were never any Indian Herbs to screen nor was the transaction conducted with screening in mind. I think the entire Indian Herb story was concocted to hide the fact that Rhodes was obtaining financing illegally through under the table Regulation-S style dealings. In other words, he gives this Pakastani guy several hundred thousand dollars worth of PRLN stock at a discount to the current market valuation. Rhodes walks away with the cash to use for whatever reason. Who knows, he could have used it to pay his "consulting fee". In the meantime, the Pakastani dumps his PRLN shares back into the market and keeps the difference. It happens all the time with small companies that are desperately in neeed of cash, although not usually behind the backs of the Board Members. I really feel that this is what happend here. The question is why did Rhodes do it? Are they lower on cash than they want to admit? Did he do it to line his pockets or supply PRLN with other more critical financial support? Or maybe he did it to try and drive the stock price down further as part of a stock manipulation scheme? We may not get answers to these questions on our own but perhaps KR would be moring willing to explain it in a court of law.

Hank
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