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Biotech / Medical : Cistron Biotechnology(CIST)$.30
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To: maileg who wrote (1003)1/9/1998 5:20:00 AM
From: Zvi Yammer  Read Replies (1) of 2742
 
<<<<Was there any impression as to what exactly Bluestone is doing, or
whether they will extend their contract past the initial 6 month period? >>>
No. Absolutely nothing substantial about Bluestone. Except
that Naismith was elected director for a 12 month period. Which is longer than 6 months.

<<< Was there any comment about why the stock price is so absurdly low
relative to their cash position>>>>>>>

Not directly.
A few questions were asked concerning stock price.
1. Why not close up and distribute cash.
Ans. I'll take it to the board.

2. Why is the stock selling below cash value.

There isn't any way a director can or will answer a question like that. But, the general concensus of the audience was that without a real product. One that shareholders see as a potential "blockbuster", CIST is just a wad of cash that's all dressed up with no place to go. Most agree that while 6-8 million is a lot of money, it isn't going to get you anywhere as far as funding a theraputic. So the cash is on slow burn.

3. Reverse Split and get on NASDAQ.
Ans. When I bought the stock back from Med-Tech the stock went down not up?? So I don't expect that a reverse split will have any effect
(not a direct quote, just my impression of the answer.)

Anyway, I think one of Cist's major problems is that the average age
of it's major shareholders is deceased!!!!!!!! There was one board member there who looked like they took him out of his coffin put makeup on him and sat him in a chair for the meeting.
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