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Biotech / Medical : Biotech Valuation
CRSP 51.45+1.4%11:33 AM EST
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To: Exacctnt who wrote (6931)8/18/2002 10:58:05 PM
From: LLCF  Read Replies (1) of 52153
 
<The entry recorded on the books was a debit to Cash and a credit to Additional Paid in Capital. There was no income statement entry. >>

Then this is my misunderstanding... although it's clear that cursory current ratios, cash comparisions, firm value growth may be easily misinterpreted.

<If you are referring to selling puts, you must realize that the puts or put warrants that Dell or MSFT were selling were not open market puts. They sold puts via private transactions to select clients.>> >

They were sold directly to all the large investment banks [depending on the client]. The banks then went to the exchange floors and blew out whatever they could. In many cases banks blatently ripped companies off [Phillip Morris I saw several times] by doing it private because they sold the idea to them and didn't tell them where the stuff was really trading, just priced a nice profit for themselves.

This is beside the point anyway I suppose... my point is that all premium get's to the 'market' they were in fact 'open market' not like some esoteric transaction that can't be valued, measured, or followed... they just didn't trade on the options exchanges, which BTW are not as liquid as the OTC markets anyway.

DAK
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