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Biotech / Medical : Lidak Pharm. [LDAKA]

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To: Eric Riss who wrote (988)	3/20/1998 4:17:00 PM
From: Red Dragon	Read Replies (2) of 1115

Boy, this company and this thread have really deteriorated since I abandoned the stock 2 months ago. Recent shenanigans by Dr. Katz and Lidak only reinforce what I have thought all along: Lidakol is unlikely to be the blockbuster we all hoped it would be, and the company has been engaged in a long series of misleading and deceptive statements and statistical manipulations to make things seem much better than they really are, without overtly lying. See my prior posts in January for details. I think odds are that they submitted an FDA approval only to buy time and keep the company and shareholder hopes alive for a few months while insiders attempt to cash out and cushion themselves for the blow. Recent behaivior has supported the notion that insiders are only caring for themselves and don't care at all about shareholders, as this thread has painfully noted. If everything does fall apart, there may very well be numerous lawsuits, but there will be nothing left of the company to distribute to shareholders. Many stocks go to zero every day of the week. Shareholder lawsuits are a waste of time and money in these cases. Again, just my opinion, but I speak from prior bad experiences with these types of companies. I have learned to just cut my losses and try again. I sold my entire Lidak 2 months ago at a big loss, as I mentioned on this thread. Fortunately, I reinvested in 2 Information management companies with hefty Year 2000 work - IMRS and SYNT - and one look at their charts will tell you that I am extremely glad I made that decision. The capital loss from Lidak is staggering enough. Having your money in this dog during the greatest bull market of all time results in an additional huge opportunity cost. As a former long, I hope things work out well for the rest of you guys. But be prepared for the worst.

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