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Biotech / Medical : Techniclone (TCLN)

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To: Jim Baker who wrote (882)	12/17/1997 11:17:00 PM
From: Dave Belz	of 3702

Shero No problem, didnt take it personal...all in the spice of things on the net....you make some interesting points about burn rate and the shareholders meeting....Jim Baker's response raises a few more questions...how can the burn rate for the last quarter have reached this level without any ongoing costs for any trials ie TNT or Lym i.... I was at the shareholders meeting and yes they did justify their burn rate by usingn comparisons with other companies.... it was Lisa up there doing that number.... and from what i hear she is very capable and very much into control....in this case we may have been the subjects.... Davis makes a good point....the board would not turn down someone for CEO with as much support as this guys has from the clinical dept....it would result in lawsuits and probably catastrophy for the co for the board to refuse to bring him aboard.... it will happen IMHO and the licensing deals and financing deals will have to happen cause with this kind of burn rate they need the money....sure wish these guys understood what 'fiduciary responsibility' means

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