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Microcap & Penny Stocks : lcav
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To: Harry W. Lowe who wrote (49)7/15/1997 6:07:00 PM
From: philip maun   of 942
 
Harry,

LCAV held up well today after yesterday's news release--that was encouraging. Management has tried to expand too fast which now has put them into a cash problem. If this continues could they be a possible takeover by one of the two larger competitors? Probably not for a long while until that possibility. Last year their rapid expansion and loss of hospital programs(went from 80 to 26) has put them in a bind.
On the bright side the number of PRK procedures has dramatically increased within the first six months of this year. Last years total was 3,620. While as of June 4 (actually 5 months this year) the number of PRK procedures has nearly doubled reaching 6,380. Ofcourse three new centers have been opened this year and 6 centers opened in the second half of '96., but the increase alone in the Baltimore center for the first five months this year has already surpassed last years ten months of operation. I'd like to get the individual PRK numbers for each center to get a better idea of progress.
Now the company states they will concentrate their efforts on their existing centers and hold off on the expansion. That's a good idea. As you said Harry time and VOLUME will tell if management can pull this off. If they can't-- they would have to be a prime candidate for a takeover, but I think that is the last thing Dr. Joffe is looking to do. Thanks for the TA --you've been right on target since your first post.

Phil
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