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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: F. Jay Abella, III who wrote (294)3/19/1998 11:11:00 AM
From: Paul S.  Read Replies (1) of 1185
 
FJA,

I was rather curious about your comments, so I phoned the company and spoke with James King. He assured me that the only warrants existing in Nortran are with CCM and Magic Bullets (which is Dr. Michael Walkers Company). James further explains that Dr. Walkers holdings are over 20% and that his warrants expire in Feb99, but that does not mean he will exercise them for the following reasons:
1. He currently has almost a year holding left on them.
2. Because he is Chairman these warrants can be extended.
3. He could replace the warrants with a higher priced warrant.

From my conversation with James, I gathered that these warrants are the nest-egg of the Chairman for the time when one of his drugs has been either licensed by a major pharma or is actually selling in the open market, and not for any other reason.

We also talked about the quality of person that Dr. Walker is and how he has long term vision.

This is just my interpretation by speaking with James. But I would like to hear your comments FJ.

Thanks,
Paul

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