1 THOMAS HEYSEK ASSOCIATES LLC
2 647 Eastwood Way T: 415-888-2148
3 Mill Valley CA 94941 F: 415-332-2093
4
5 To: Infectech Shareholder CC: Mitchell Felder, MD
6 From: SharehoIder Consultant Chief Executive Officer
7 Thomas Heysek Infectech Inc.
8
9 Dear Shareholder: June 18, 2003
10
11 We have reviewed the corporate situation at Infectech (hereinafter, the “Company”), compared its
12 products in the “pipeline” within the industry’s environment and incorporated an assessment of
13 those proprietary distributor arrangements with prospects of producing early revenues. In our
14 professional opinion, as forensic and investigatory analysts, Infectech is poised to exit
15 Development-Stage status, as defined by the Securities & Exchange Commission1.
16
17 The next three corporate requirements are, in order- (1) Complete the Form 10-K for the SEC in
18 order to become a Reporting Company, as defined by the National Association of Securities
19 Dealers (NASD); (2) Raise no less than $1,000,000 in new capital in order to implement the
20 Business Plan...i.e. commercialize Infectech; and (3) Work closely with distributors in order to
21 generate overseas sales.
22
23 The Collective End Result of these three requirements will feature a company traded on a
24 regulated Stock exchange (versus the current situation wherein the stock is listed in the
25 unregulated "Pink Sheets”) and a Company generating revenues. This, in turn, will favorably
26 contribute to the Infectech’s perception in the medical and investment communities. Needless to
27 say, this Collective End Result can contribute markedly to Infectech’s Shareholder Value,
28 currently $900,000.
29
30 While the 10-K work can be started at once, a problem emerges with respect to the second
31 requirement at this stage of Infectech’s growth---namely, raising the $1 million. As you know,
32 there is a corporate insider petition to liquidate the company. Whether with or without merit does
33 not matter; what matters is that this petition exists at all.. .and the purpose of this communication
34 is to inform you that the second requirement must be postponed indefinitely until that petition is
35 definitively dismissed. Otherwise, no prudent investor will step forward to provide the capital
36 needed to commercialize the Company.
37
38 Indeed, there has already been a measurably negative impact on Shareholder Value. On June 2,
39 2003, Infectech had a market value of $3,240,000. By June 3rd, when the Corporate Insiders
40 Petition became public information, Infectech’s value immediately began to decline---and
41 continued, decreasing since June 3rd by 72% to the current $900,000 in Value (loss of
42 $2,340,000)
43
44 /s/ Thomas M. Heysek, 415-888-2148 (DETAILS TO BACK UP ALL OF THESE STATISTICS
45 AVAILABLE)
46
47 THOMAS HEYSEK ASSOCIATES is a specialist in forensic analysis and investigatory research.
48 shareholder value, identifying regulatory or compliance hurdles and justifying matter involving
49 valuation-all as an independent consultant. Infectech is NOT a client of firm but has been
50 engaged by a shareholder (who has numerous independent NON-Infectech investments) to
51 conduct an independent evaluation of the Infectech situation and its commercial potential.
52
53 1Development Stage status refers to a company that has yet to generate revenues. At that point
54 when revenues are generated, howsoever small, a company sheds its Development Stage status.
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