Matt I think I finally have one that is worthy of your investment consideration:
WASP - July 21, 1999 - OTC BB - 21/32 x 23/32 - 52 week high 2 1/2
I spoke to Gary Heesch, CEO of Wasatch Pharmaceuticals today. I would like to share my due diligence with the readers of this thread while WASP is still selling at a substantial discount to yearly highs.
Float: 5.1 Million shares
Outstanding: 17 Million shares
Wasatch Pharmaceutical has been in business since 1986. Until recently they have been largely a research and development company. Earlier this year in a series of press releases the company discussed the outstanding results of their research. As a result the stock ran to $2 1/2 per share. I read those press releases but I was skeptical... I kept scratching my head and wondering...
How can they make these claims?
With several thousand patients having been treated, Wasatch has announced a success rate of 95% with virtually no side effects. Success is interpreted as total or near total eradication of both cystic acne and the less serious grades of acne. This product is used topically, and is far superior to anything now being used by prescription or in the over-the-counter market.
fast.quote.com
For all types of Eczema treated in this study, Wasatch realized an 85% success rate. Success is interpreted as total or near total eradication of this pervasive skin condition.
biz.yahoo.com
In the case of Psoriasis, we have treated approximately 20 patients with a success rate of 45%. The most important aspect of this study is the total or almost total eradication of the disease for those who responded. With these results, Wasatch is confident that within two years of continued research, this skin disorder will respond to treatments involving an improved therapeutic approach.
biz.yahoo.com
Cold Sores are now treated successfully with existing products. Wasatch's entry into this market will provide a new dimension for the treatment of this skin problem. With a success rate exceeding 95%, our most important achievement is the time taken to eradicate the cold sore. For the most part, existing therapies take 2-10 days to eliminate the sores. In studies conducted by Wasatch, the time is reduced to 2-3 days, whether on the skin surface or in the mouth.
biz.yahoo.com;
The medications they use are all FDA approved antibiotics and others beneficial medicaments. However they have never been used in the proper combination to achieve this high degree of success until now.
I expect the company to file for FDA approval for 5 to 7 different OTC applications within the next couple of weeks. That approval could come quickly because all these medications are already FDA approved... just not in this combination.
They currently have two clinics in Utah. I will be driving down to Salt Lake City in about one month to thoroughly check out their operations. Diseases that they have cures for in skin care: Acne, Psoriasis and Eczema. The management team is focused on research and development of other products. Over 2000 clinical studies have been performed and published. Success rate is far above any others in the marketplace with less side effects. Wasatch even has a skin rejuvenation product that actually rebuilds skin cells. The market for the above is 10 billion a year.
fast.quote.com
Company intends on opening 300-400 clinics over the next 3-5 years.
The two clinics which are already open will be profitable by November of 1999. The company expects the real revenues to kick in by the first quarter of 2000. The company is doing everything possible to build a strong management team within the next 60 to 90 days. As such they plan to hire a new CEO who worked for over two decades at Johnson and Johnson in a high level management position in their skin care division:
biz.yahoo.com
The only hold up has been funding. I expect the initial funding could be announced within the next couple of weeks. Everything should fall into place soon and the company should begin to move full speed ahead into it's expansion phase. Applications are already be processed on Blue Cross and Blue Shield coverage.All of the clinics will operate under the name of American Institute of Skin Care. The company even has a tremendous opportunity in the veterinary medicine area as well.
Projected revenues for 3-5 years down the road exceed over 500 million a year.
All the due diligence which I have provided here should be followed up by due diligence of your own. I invite you to call Gary Heesch of Wasatch Pharmaceuticals before investing your hard earned dollars.
Wasatch Pharmaceutical Inc., Midvale
Gary Heesch, 801/272-1709
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