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Biotech / Medical : ACMI - Accumed Inc.
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To: Cisco who wrote (1509)3/6/1998 11:10:00 PM
From: Sigmund  Read Replies (1) of 1894
 
Cisco, I wrote you a long reply but when I clicked to send, I was fatal errored out. I guess that was a suggestion to be brief.

I am not in. Tempted but think the current price really appropriately balances the risk/reward of being in versus waiting until the question of NASDAQ participation and the required steps to accomplish this is resolved.

At this point I don't think we know what all of the NASDAQ requirements are nor do we know how NASDAQ will feel about the conversion of debt to preferred stock. I know of a company that did a lot of that debt to preferred stock conversion and I think that maybe NASDAQ didn't appreciate it too much since it is mainly cosmetic rather than substantive. Selling the products that produce revenues brings in cash but makes ACMIC a company that will be in the red for a long time so NASDAQ might not like that either. And there is the question of the stock price.

I would think that NASDAQ really wanted to see some new money come in and a reverse split to make this not a penny stock. But the company seems resistant for some unknown reason to the most obvious solution to the problem.

Buying now at $0.80 doesn't seem to provide me with much of an advantage nor does it seem foolhardy either. Either way I think those in the stock now and those who enter later will all be winners by the end of 1998. If the stock drops to 5/8 again before an announcement, I probably will be a buyer. If the stock rises to $1 1/32 before an announcement it will be very interesting to see if this generates selling or a buying panic.
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