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Biotech / Medical : biotech insider buys

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To: EVENT HORIZON III who wrote (53)	5/4/2003 11:42:38 AM
From: Doug R	Read Replies (1) of 213

The insider buying there on ARDM certainly looks impressive. One thing kinda strikes me as odd though. How can there be 15 different owners of 10% or more of the stock? A private placement at .79 of 19 million shrs. 15 buyers of 5,316,455 shrs each and each also listed as now owning 7,806,040. It looks like the 15 are probably 1 combined entity and each reported purchase is actually the same one. I'm not saying the stock won't move because I think it will but the reporting of insider buying for it isn't all it appears to be. Doug R

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