SI
SI
discoversearch

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 : Biotech Holdings
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Robin Peterson who wrote ()9/10/1999 5:54:00 PM
From: Mike Heimbuch  Read Replies (1) of 224
 
To all the Bio Bulls

I have followed this company for 4 years and believe they have the goods - but there are some things about the company that bear scrutiny. If you read your annual meeting circular you will find a private placement to Penne - an offshore company - for 6 million shares - just recently. The price on those shares comes out to about 25 cents US. The sentence right below shows that Penne also sold 4 million shares just prior to that(although the sales could have been ongoing and just declared at that date)- with no mention of price or to whom. The BIOHF trading picture this year shows that several million shares were sold into the market at prices from .35 - .50 US. If Penne was responsible for part of that - and then turns around and gets a private placement for a fraction of their sales price - what does that say? Also - if the company personnel are involved in Penne - and they are free to issue unlimited stock - what does that say about the company? These are tough questions and they should be asked of management at the annual meeting. There are investors who left this company because they believed this is exactly what's been happening - selling stock in the market to get money for the company and reissuing to themselves at bargain prices. If this is true and there is a good reason for this behavior that benefits the stockholders - I would sure like to know. If the primary owners of this company are heavily involved in Penne and Wenroth - surely we deserve to know the nature of the relationship and the details of the financial maneuvering between them.

MH
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News