Chromatics Color Sciences International. Inc; CCSI Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 28.71

-2.4%

Nov 4 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Hawaii60 who wrote (5443)	6/28/1999 11:29:00 PM
From: Bill Wexler	Read Replies (3) of 5736

As far as I know, CCSI never did a reverse-merger into an existing shell. Darby Macfarlane, the CEO, used to run a now-defunct company named "Pink & Peaches Computing' (or something very similar - check the 10-K). When CCSI went public, the company had a minuscule amount of cash in the bank and no legitimate underwriter would touch them, so they went to crooked shops; Investors Associates and Janssen-Meyers. CCSI is trying to market a generic colorimeter for monitoring infant jaundice. There are already several colorimeters out on the market that accomplish the same thing, and CCSI does not possess any unique colorimeter technology. This niche market is also tiny, amounting to no more than a few million a year. Most of CCSI's fraud revolves around their claim that their colorimeter will replace existing blood tests for jaundice - they then came up with a 'market size" based on their estimation of number of blood tests taken multiplied by total cost. This is - of course - utter nonsense. In fact, I believe that management deliberately withheld information regarding distributor costs and sales targets from the 8-k (under the guise of "secrecy") because it would have immediately revealed that market size estimations were indeed fraudulent. During the last conference call, management also refused to answer simple questions about how often the hospitals that already have evaluation untis were using them for actual tests. I will say this, CCSI's promoters have been very effective at pumping the stock. The short position is large - and the stock can be volatile. A squeeze is still technically doable at this point, but the stock has been chopped so many times and there are so many small lots scattered to the wind now - that I don't lose much sleep over it. Good luck, BW

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next