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Biotech / Medical : Biotech Holdings

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To: Mike Heimbuch who wrote (75)	9/9/1997 10:19:00 PM
From: jacq	of 224

Biotech's annual, and first quarter reports are out. They are one interesting puzzle. First the good news. Revenues are increasing at an exponential rate Gross profit margins are high. In the annual report revenues went from $1,000 to $60,000 in the year ending Mar 31 1997. In the first quarter revenue jumped to $75,000 or more than all the revenue from last year. In the first 45 days revenue was more than in the entire first quarter. Sales are definitely going up. They are even going up at a much faster rate than expenses. If the company was to try to solicit new capital revenue growth would certainly bode well. The bad news is that selling and administrative costs have gone up tremendously also. The company did not break down these costs as to whether they were ongoing or unusual in nature. In the last quarter they worked their way through $450,000. There is only a little over $300,000 cash remaining in the company. so unless they raise some money quickly it looks like another Eatons. I certainly hope that the large pharmaceutical partner they are having talks with comes on board. Has anyone read any confirmation that Diab II actually works as claimed?

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