|
I've owned this company since it was Greenwich Pharmaceuticals and I can tell you there was never any proof of stock manipulation...the lawsuits were brought by the same lawyers that go after any company that has the misfortune to see its stock wither away. Greenwich did not have enough capital to complete the clinical trials of Therafectin and, so, BLSI and GRPI merged and have quite a viable little company. It is, however, a very speculative stock with 64 million shares out, so the chances of making a killing on this stock are slim. If, however, just one of the drugs they have in the pipeline pans out, this stock could be a big winner. I paid only thirty cents to one dollar, so I can sell at a pretty good profit and I was going to until Zeneca PLC, the big British pharmaceutical company, took a stake...they are not foolish people so they must have seen something promising in BLSI's pipeline. The annual report and proxy came in today's mail...lots of good information in there, so read it thoroughly and you'll see that they do warn you that it is very likely that this company may not succeed. Personally, I think it looks like BLSI has some very smart people on staff and I like the fact that they are not trying to do a snow job on anybody. I have spoken to two of the researchers on staff at BLSI and I was very impressed by their backgrounds which, by the way, I verified independently. Summary: this little company has lots of potential but, also, lots and lots of risk...I wouldn't invest any more than I could afford to lose. JACK |
