Paracelsian Inc (PRLN) Message Board

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Biotech / Medical : Paracelsian Inc (PRLN)

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To: Harold Stone who wrote (3295)	9/21/1997 9:01:00 AM
From: John H. Farro	of 4342

Harold, I'm not saying whether I think you should increase your investment or not, so please don't take this as me being preachy. I'm just telling you what I'm doing. I have no intentions of increasing my investment with this company with the current members of the Board still in power. I've made this decision for two equally important reasons. 1) It just doesn't seem right. I won't invest directly in tobacco companies for moral reasons and I won't invest in this one for the same reason. I don't like the fact that Babish was talking up the company's plans at the SB conference while he was selling his stock. But at least he registered his sales with the SEC, so investors at at conference were at least theoretically on notice that something was wrong. Whether one thinks Babish's behavior can be justified or not doesn't diminish the fact that Rhodes and his lackey's screwed him royally and crushed his dreams by their wrongdoing. I don't like the way they've treated Babish, but even more importantly, I don't like the constant contempt with which they've treated the shareholder. Their contempt for us is obvious: The shareholder meeting that was held 3 months after the Bylaws required them to do so, and only after a judicial ruling forcing them to hold a meeting seemed imminent. The lack of reporting material information regarding the company such as the resignation of key Directors. Rhodes' failure to mention in his introductory letter to the 1996 Annual report that the company was spending its funds on a lawsuit against Babish. The very fact that the lawsuit appears to be intended to keep the shareholder in the dark. It goes on and on and on. I won't invest in a company that likes my wallet but wishes I would just keep shut and go away. 2) I just don't have faith in the current Board. I don't see why anyone would lend this company money while these Bozos are in power. The company has had an opportunity and it blew it. Now I may miss a great opportunity to make some quick money on a rapid flip of this company's stock. But I don't trust my ability at market timing. And I'm the last person people should turn to when making investment advice. It seems like with my performance lately, the best thing someone could do would be to watch me and do the opposite. So again, I hope you don't take this as me trying to be preachy. I'm not judging your actions or those of anyone else who might invest in this company. I'm just explaining why I won't invest in it at this time. Robin

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