Chromatics Color Sciences International. Inc; CCSI Message Board

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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 29.32

+4.6%

Oct 31 9:30 AM EDT

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To: Gurupup who wrote (1045)	2/16/1998 9:26:00 PM
From: valueminded	Read Replies (3) of 5736

To All: I have not completed my analysis of this company yet. But just looking at the typical financial information, I have not been impressed. I would appreciate commentary on the following. (or refer me to a prior post which answered the question would also be appreciated) Financial: Company has been around for a number of years. Currently company has market cap of >150 million. Sales < 1 million. Earnings = none. Employees (as listed in Yahoo) of 19. i.e. Looking at history I wonder how it commands this valuation. Companies cash burn rate is approximately 1.1 mil/quarter. From excercise of warrants and options, it recieved 1.9million first 9 months of 1997. (about 600K new shares issued at average of ~ $3/share) This allowed it to finish 3rd quarter with approximately 3.9 million in cash, so depending on option/warrant excercise they have ~ 3-4 quarters left. imho. (I would guess less if they ramp up) Latest 10QSB. Filed 11/14/97. Page 9/10. Following paragragh is included under heading Risk Factors. "The report of Wiss and Company, LLP, independant auditors for the company with respect to year ended 12/31/1996, includes an explanatory paragraph relating to doubt as the the ability of the company to continue as a going concern." Can someone explain this? My impression was not positive. Filing SC13 D/A. Filed 12/22/97. (This filing covers stock ownership of Darby listed at 6.4% of common) Under item 5. It lists open market transactions. All were sells, no buys,total of approximately 120K shares from June thru December. After reviewing the financials, I have been less than impressed. However, the news releases in terms of the Bilirubin monitoring seem interesting. And unfortunately for me, more confusing. So I have to ask for help here. Science questions: Reviewed patent # 5313267 and 5671735. It seemed upon reading these patents that there was significantly more involved than a simple color scan but I am not an expert here. They talk about maybe 5 to 6 measurements at different sections of the body and also about some type of scrubbing procedure to get a good color reading. At any rate, the relevant questions I wish someone would answer for me are: Is this procedure as accurate as a heel stick ? i.e. Does it obviate the need for the actual blood analysis or would that still be required ? Can this procedure misdiagnose and if it did are there any consequences (both for the health care provider as well as the manufacturer? The answers to these questions are critical and unfortunately, I was not able to find answers in there 8-K's. I do not know what to make of the 8K released on 8/4/97 in which they mention that the FDA has given a "substanatial equivalence" determination order authorizing commercial distribution of the product. Can someone point me to a copy of this letter and what it really means ? Other Factors Price has gone up. Stock has split. Short interest. Short interest in this stock has gone from Cancel Changes Normal Font Fixed FontSend questions and feedback to webmistress@techstocks.com

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