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Biotech / Medical : Biotech Shorts

XOMA 32.98

-0.7%

Oct 31 9:30 AM EDT

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To: (no name provided) who wrote (34)	6/19/1997 9:45:00 PM
From: chester lee	of 61

Kafka666, Yes, I was a big promoter of why CARN would drop in price becasue of their S-3 filings and the offshore investor's dumping the shares once the shares were effective. The reason why I was short CARN no longer exists. CARN has made an agreement with the Discount convertible preferr holders to basically buy back the preferr shares. Thus, no conversion to commons at a discounted price, and most importantly (and discouraging) to a short, is no dilution of common shares and no mad rush selling by slipping converters. Why ae you still down on this puppy. CARN's a dog, but I'm not sure why. I know their CFO recently resigned. They bought back theperferred shares, basically making a financial fool of themselves. In effect, they got a short term loan at a annual rate of 41%, when taking in to account their cost to do the transaction. Looking forward to your research on Humanscan. I'll post as I find my old stuff. Chester

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