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Biotech / Medical : CMTR-CHEMTRAK FDA OK
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To: William Presti who wrote (585)4/2/1997 1:23:00 PM
From: Art Baer   of 1172
 
the FDA is very unpredictable and if by some chance they don't approve it. Which i do not think will happen, they will request more info from CMTR or simply upgrades to the facilities. This is not a new product (There are all ready two out there) so it gives me more confidence. As to what Ed Covell will respond.. He will say the FDA is saying what they always say. I don't really trhink he will give you much more info than that. Infact I don't think he is allowed to. Remember when Colocare was announced. It was a surprise to us all. No one even knew that they were looking for new products to distribute.

As in regards to the 10-k. The one part that interests me is that it make it quite clear that CMTR will be raising more money. This could be througha secondary pffering or through more convertable debts. I would prefer the convertible notes for two reasons. One, the people who invest will likely hold longer term than if there was a secondary, and two they will not all convert at such a low stock price. A secondary offering at such a low price would not be the best but i could deal with that as well. The most important thing is that CMTR has notr only enough money to survive, which it does, but also to promote it's HIV product. It would be the best of all scenarios if CMTR got an additional implant of capitol after the test was approved. Once the test is approved the company will undoubtfully be valued at considerably more. Any other thoughts?

Art
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