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Biotech / Medical : URMD -- Huge market potential
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To: Samuel J. Bennett who wrote (194)1/14/1998 5:59:00 PM
From: Hugh A. McWhorter  Read Replies (1) of 369
 
Sam--I too have read some of their data and frankly was impressed. Excuse me for being a bit cynical but I also read the data from a company named Intercell who issued a forecast of earnings for their fiscal year ending September, 1997. It was issued in October 1996. It called for e.p.s. of about $1.50 for the period of time forecasted. I bought and bought and bought. Started at $4 and chased it all the way down to 37 cents. I stopped buying and it closed today at 12.5 cents. Bet you can guess that the numbers forecast (forecast not projected mind you) were not anywhere near accurate. My comfort with URMD is that external sources (Health Insurance type cos) have granted reimbursement status to their product. This means they have something but seems that it would be prudent to wait and see some numbers develop. Intercall was also a development company--seems that they are still developing as the price goes south. Forbes had an interesting discussion on a danger sign for a developing company--that being to be leary of one which relies on borrowed rather than equity capital to expand. URMD large convertible debt made me recall the Forbes discussion on the subject. Seems that they were of the opinion that this was a sign that equity capital was not saleable. Comments?

Best regards, Hugh

P.S. I do intend to continue to accumulate but absent some positive operating figures I will continue to evaluate my covered straddle idea. Hugh
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