PCES - paid $4.75 Million by 3M Corp!!! Message Board

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Microcap & Penny Stocks : PCES - paid $4.75 Million by 3M Corp!!!

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To: jdcpa who wrote (404)	10/19/1999 11:07:00 AM
From: Brad	Read Replies (3) of 523

I noticed in the Forbes article about Mr. Pappajohn where he mentioned he wanted to take NetGenics public. A couple of years ago NetGenics was a startup company. In the Sept 8, 1997 Forbes Article, Mr. Pappajohn projected that in 2-3 years he thought NetGenics (currently a private company) would be a $5 to $10 stock. Here's a man that is worth over $200 MILLION (according to the Forbes article) buying up PCES shares to where he now owns 44.73% of PCES and in the Forbes article he seemed quite enthusiastic about NetGenics. I'm just wondering if Mr. Pappajohn might have NetGenics in mind for PCES. Here's an excerpt from the Forbes article of two years ago... >>One of his latest is NetGenics, a bioinformatics startup. The company is developing software that would help pharmaceutical companies manage their drug research data. NetGenics' cofounder and chairman is Walter Gilbert, a Nobel Prize-wining scientist who co-founded-founded Biogen. Pappajohn is old-fashioned in more than his ethics. He doesn't use a computer. He keeps a list of his companies on a tatty piece of paper in his coat pocket. Yet he quickly grasped the market potential of NetGenics' software, which might speed up the colossally expensive drug discovery process. Leaving other venture capitalists in the dust, he signed on with NetGenics within days. He got 25% of the company for $500,000 and set about bringing in outside investors such as Venrock, the Rockefeller family's venture capital and Venrock was happy to pay $1 a share for a stock that cost Pappajohn 25 cents a share. NetGenics just celebrated its first birthday and already has contracts with major pharmaceutical companies. Next year Pappajohn hopes to take it public. "In two or three years," he says, "I think it's a $ 5 or $10 stock."<< netgenics.com I also wonder about Renaissance Software and Vento Software. But right now I'm trying to figure out if NetGenics might be a fit for PCES. I guess I'll just have to wait and see what happens, but it's fun to speculate.

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