SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Paracelsian Inc (PRLN)

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Hank who wrote (3237)9/11/1997 2:40:00 PM
From: Rick Costantino   of 4342
 
ATTENTION ALL PRLN'ers,

I have obtained a very interesting document.

It is a Paracelsian memo dated November 12, 1996 from T. Colin Campbell to Keith Rhodes.

I will type in the memo here as follows. I was not sure how to scan it in to post it. If anyone would like a photocopy of the original, e-mail e (rickc@gene.com) with your mailing address and I will send it to you.

---------------------------------

Date: 12 November, 1996
To: Keith Rhodes
From: T. Colin Campbell
Re: November Board meeting

Keith, I have a few questions that I would like to have answered at our November 18 meeting. These, of course, follow my memos of Sept. 12, Spet. 25, and Nov. 10, concerning the issues of the Indian herb samples rewported in the last annual report. As you know, you have not satisfactorily answered my query, either as to its generalities or its specifics. Thus, I provide the following questions in order to be as specific as possible. Please bring whatever information and/or other documentation that may help to provide the answers.

1. Where is the protocol for the collection, screening and reporting of the data for these herb extracts?

2. What is the name and adress of the company with whom PRLN business was conducted?

3. What was the form of invoicing and reimbursement that was reported in the report?

4. Where are the results?

5. Who did the screening?

6. Where is the evidence showing Board approval of the issuance of the stock?

-----------------------

MOST IMPORTNAT OF ALL: next to the written questions, hand-printed and INITIALED BY KEITH RHODES are his answers...

1. none

2. (I can't read the handwritting here, maybe someone else can make it out)

3. verbal

4. none

5. no screening

6. none

Underneath the hand written remarks are intialized and dated 12/4/96.

Several weeks had passed between the time that Campbell sent this memo and when Rhodes responded. From this, it follows that Rhodes ignored Campbells' numerous memos and (this is the story that I heard) only when Campbell threatened to ask these questions publically did Rhodes respond.

The top of the letter also has John Babish's name printed along with his phone #, implying that the memo was also from Babish.

So, this letter suggests that Rhodes confessed to lying about the Indian herb screening:

THERE WERE NO PRTOCOLS DEVELOPED TO COLLECT OR SCREEN THEM.

THE BUSINESS WAS ALL CONDUCTED VERBALLY.

THERE ARE NO RESULTS.

NO SCREENS WERE EVEN CONDUCTED.

BOARD APPROVAL WAS NOT OBTAINED.

There you have it, PRLNers. I am now completely convinced that Rhodes sought purposly to sabotage PRLN and is indeed a crook. I hope when this matter is fully investigated that he gets his rewards. By that time, let's all hope it is not too late to salvage the company and its promising technology.

I will gladly send a copy of the memo to anyone, just give me your mailing address.

Rick C.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext