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Biotech / Medical : A BIOTECHNOLOGY STOCK WITH A FUTURE - GENETIC VECTORS

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To: Jim Drewitz who wrote (22)11/21/1997 4:04:00 PM
From: william allen  Read Replies (2) of 52
 
Jim,
I sold this stock yesterday due to Ms. Karen Wright the CFO at NYER
confirming to my broker that NYER was planning to sell their holdings in GVEC starting Jan. 1988. This as we discussed would cause a drain on an already tight Bio-Tech startup company.
Now I am advised that they voted at their August BD Meeting was to sell, but they were just advised today by their investment banker that they signed a contract restricting any selling until three years after the IPO date.
I believed in my brokers advise in buying this stock and did not due my proper DD, where I buy management first and product second. Now i find out ( thru their actions ) that the CEO s senile and the CFO can't read or spell.
Sorry for the trouble and effort I caused you, now I don't know if I can trust any stock that SCAMROCK INVESTMENT BANKERS sold me on. It seems to me that they work for their client companies and not the people that they sell their stories to.

Rgds, Bill
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