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Biotech / Medical : Lidak Pharm. [LDAKA]

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To: John Zwiener who wrote (941)	3/6/1998 10:53:00 AM
From: Henry Volquardsen	Read Replies (2) of 1115

John, with all due respect, stating that the directors own almost 1,000,000 shares is very misleading. The most recent filing I have seen shows that all insiders own 924,103 class A shares. Of that number Dr Katz owns 888,703 or 95.5% of the above number. The only other insiders who own any shares directly are Kenneth Olson who owns 36,400 class A shares and Timothy Russell (who I believe is not a director) owns 5,000 class A shares. Neither the new Chairman or President, as of yet, own a single share. The issue has not been what the ownership stake of the whole board has been but the ownership my board members other than Dr. Katz. That appears to be one man owning 36,400. Frankly I consider that abysmal.

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