phase II initiated......
prnewswire.com
I love that the public offering has been put on hold, and playing with concepts of "why?". Comparing the shares beneficially owned by insiders, listed in the prospectus of 11/97 versus that of 5/9/96.......
all executive officers and directors.... 8.8%, 8.5%
Comer...... 325,338, 289,931
Harpold...... 116,966, 179,188
Lloyd...... 56,601, 47,529
McDonald..... 60,392, 42,007
Dunn....... 51,953, 41,772
Reed....... 59,712, 42,007
Miller....... 60,375, 52,875
Crooke....... 17,250, 35,250
Rentschler... 26,250, 11,750
Watson....... 39,750, 35,250
Crooke is one of my counter-indicators, so I personally consider this to be a good sign. Dr. Harpold's numbers are in excess of the 41,156 shares that were subject to options exercisable within 60 days of 9/30/97, and may be more troubling. Sort of hard to get a handle on it, as the footnote for the 179,188 indicated that it included 136,888 shares of common issuable pursuant to options exercise, 23,030 shares of Series B, and 15,275 shares of Series B issuable pursuant to options exercise.
Overall, I read the comparison as positive. This is my opinion..... please get your own.
Rick |
