INCR -- Incara Pharmaceuticals Message Board

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Biotech / Medical : INCR -- Incara Pharmaceuticals

INCR 1.380

+0.5%

Nov 6 3:57 PM EST

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To: scaram(o)uche who wrote (60)	12/26/2000 7:53:40 PM
From: tom pope	Read Replies (1) of 196

Obviously, I'm going to have to go back and find out what was wrong with my back-of-the-envelope calculation that told me that this was a good deal for INCR. The series C pfd pays for INCR's contribution to Incara Development, for a consideration of the potential issuance of 1.85MM shares of INCR. And INCR issues 1,109,510 shares for $4MM (taking the Series B as actual rather than potential). Net cash to INCR's balance sheet is $4MM. Adding that to the 9/30 figures, we have a company with 10.6MM cash and short term investments, against actual and potential shares o/s of 10.33MM. NOT including the cash that has flowed down to Incara Development. As Louis Jouvet said in Drole de Drame - Bizarre, bizarre. Unless if course I've missed something very obvious (which would not be at all bizarre)

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