PRCY - ANY BODY HAS ANY NEWS ON THESE Message Board

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Biotech / Medical : PRCY - ANY BODY HAS ANY NEWS ON THESE

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To: Kenneth E. De Paul who wrote (157)	7/7/1997 12:23:00 PM
From: Peter H. Proctor	of 670

Actually, Procyte's bank account has more in it than the market cap of the company. Plus they've got miscelaneous real estate, etc. and about $50 million in tax credits and tax loss carry forewards. My MBA wife tells me these are worth a bunch. Not to speak of their patents and other intellectual property. BTW, in the drug trade an FDA-approval is usually carried on the books as three times yearly gross sales. And Procyte has a couple FDA-approved agents. So the company is worth a lot more than the market seems to acknowledge. Without the poison pill: lets say I'm with mergers and aquisitions with Merck and I could buy the company for $20 million ( current market cap is 17-18 million ). They admit to 25 million in cash, real estate, etc. so I've made a bunch right there. Merck gets the carry-forewards ( worth say another 15 million ) and the technology, FDA-approvals, etc. besides. Dr. P .

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