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Biotech / Medical : Paracelsian Inc (PRLN)
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To: John H. Farro who wrote (3302)9/20/1997 10:40:00 PM
From: John H. Farro   of 4342
 
And finally, how can I let an appointment of a new Chairman of the Board go by without comment? I would hate for Mr. Nikolis to feel neglected.

This is the same Theodore Nikolis who had no comment at the stockholders' meeting when asked about the Case of the missing Indian Herbs screening. He said that he could not comment on this matter since the company was still investigating it. When asked how long this had been under investigation, he said about 5 months. I believe that he personally was one of those who was investigating the matter. If not, I don't know why he wasn't investigating it. If I were being sued by Colin Campbell over this matter, I sure as hell would be trying to find out if this screening was done. And if I couldn't find any evidence for this screening, I would have arranged for Rhodes' ouster and sued him to recover the lost funds. And if I couldn't have kicked Rhodes out, I would have resigned from the Board in disgust.

I've heard rumors that Nikolis did indeed, at least share responsibility for PRLN's investigation into the Indian herbs. We are forced to believe one of two things, if this is so.

1) There was never any screening of Indian herbs and Nikolis has tolerated theft from the company.

OR

2) There was a screening and Nikolis couldn't find any evidence of it despite 5 months of searching. If this is true then we now have the Mr. Magoo of the business world leading our company.

I'm not sure which is better to have as the Chairman of the Board. A thief, or Mr. Magoo.

Robin
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