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Strategies & Market Trends : TheTruth000's Thread

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To: TheTruth000 who wrote ()	9/19/1999 10:07:00 PM
From: TheTruth000	Read Replies (2) of 21

SS ANGN at any price : ANGN up 46% Friday due to CNBC mention and deal with Medtronic, in which Medtronic has a non-exclusive license to all of ANGN's patents. ANGN's realizes 9 million in cash from this deal. Company burning cash at a rate of over 1 million dollars per month. ANGN has already defaulted on $20 million dollars in debt. A $35 million dollar lawsuit settled in the spring makes it perfectly clear that if ANGN defaults on this debt, then they must dispose of all their assets or attempt a sale. A sale has been ruled out for the most part, due to the agreement with Medtronic. ANGN has nothing of any value to offer now. The company completed a 1 for 10 reverse split on May 18th to maintain its Nasdaq listing. After the bondholders are done with this company, there will be nothing left of it.

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