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Biotech / Medical : The thread of life
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To: Mike McFarland who wrote (706)5/27/2005 4:16:30 PM
From: Benny-RubinRead Replies (1) of 1336
 
Well I know a couple of microcap hedge fund companies.It could be that they are hedging but not certain. I know that they were in Powder River Basin Oil & Gas (OTCBB:PRVB)
One of them made a very big hit of like 800% And the other fund averaged higher and is getting their heads handed to them.If you check out their last 2 quarters they show over 1 million in earnings but 95% of those earnings were in real estate sales and very little oil & gas.The Company reported these sales of Real Estate as earnings when IMHO and others I personally know said it should have been reported as extrordonary gains! Don't you think so Mike? They are in the business of producing oil and gas and not the sale of real estate property.Sooooo what happend. The shares drop from .54 to .16 only to base here at .22
Thats why I brought up GCAN to you because one of those hedge fund people think is a good play.I never invested in a Bio-tech in my entire life hence the reason for me asking your opinion being you invest in this sector.In anycase you could be right about it being a bow wow stock but then again it was up 15% today for a 63% weekly move.I called IR today and they are on some kind of road trip and won't be back until June 6 so I have no clue as to what they think of the 2 days of heavy gains.
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