As you will know if you subscribed to Vantage Point last summer, I fully disclosed my role as a founder, director and officer of GeneMax when I recommended the company and its promising treatment for cancer... I had my attorney review the record. He concluded that my disclosures are complete: "I spent this afternoon reviewing Agora marketing copy for Vantage Point and the newsletters and have verified that the charge that you failed to disclose your personal interest in GeneMax is completely false."
Well, according to the Daily Reckoning, Davidson mentioned Genemax way before "last summer"; 11/27/02 to be exact. He wrote:
At $8 per share, GeneMax has a market cap of about $121 million. If its immunotherapy, which has effectively cured cancer in laboratory animals, works as well in people, it is easy to imagine that GeneMax could be worth $80 per share, or even $800 per share. I don't know what a cure for cancer would be worth. But it could be worth a lot. GeneMax could grow a hundredfold in value. Or maybe a thousandfold. To attain a market cap equivalent to that of Microsoft, GeneMax would have to reach a share price of approximately $15,500 per share based on the current number of shares outstanding. dailyreckoning.com
Sounds like a pretty strong recommendation to me. As for the disclosure:
Editor's note: James Davidson is a best-selling author and venture capitalist. His articles have appeared in The Wall Street Journal, Investor's Business Daily, The Washington Post and USA Today. Mr. Davidson currently sits on the boards of over 20 small-cap companies, and has been invited to join Merrill Lynch's technology advisory board. Davidson's latest research and investment picks can be found in: agora-inc.com;
Looks like Mr. Davidson snowed his attorney if he failed to mention his first Genemax tout was prior to last summer.
- Jeff |
