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Biotech / Medical : Paracelsian Inc (PRLN)
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To: LEO RISHTY who wrote (3571)4/14/1998 7:43:00 PM
From: John H. Farro  Read Replies (2) of 4342
 
Leo, I have already seen their proxy and I knew about their desire to increase the authorized stock. I'm not sure that they want more stock so they can merge with Biomar. There are other things they can use the stock for as well. They have very little stock left and they need new stock so they can raise more money through the issuance of stock. (Of course, they can only raise a substantial amount of money this way if they first get the stock price up.)

I'm not sure what good merging with BioMar would do them. I doubt it would cause any harm, but what's the point? There obviously can be close cooperation between the companies without a merger. I'm not sure what a merger accomplishes other than shuffling papers and organizational charts. Do you think a merger will help or hurt PRLN, and if it helps PRLN how will it do so?

It seems to me that what this company needs more than a merger is a signed contract with another company that will ensure it an inflow of funds.

Robin
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