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Biotech / Medical : Cistron Biotechnology(CIST)$.30
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To: Robert Cohen who wrote (81)11/8/1996 4:05:00 AM
From: James Silverman   of 2742
 
The point which seems to be missed by a few is that CIST obviously placed all their marbles on IMNX litigation, this includes not paying much attention to sales, developing product lines, etc. This is why prior results look bleak with declining sales. They will have banked (best guess) roughly $18 Million when all is said and done. They only need very marginal improvements in the business to get to break even. Thus current mkt value is one half of tax free cash they have coming in, given no improvement in sales, markets et all. That they had roughly breakeven (200K loss), interest alone on the initial $$ they have coming in, brings the company to b/e.

One other point I simply do not understand is why a few think a reverse split and listing would be such a terrible decision. CIST has been trading at a consistent 6-7 cent spread, or a roughly 20% spread. A reverse split and listing would surely reduce this to reasonable amounts. As well as give the company added credibility so institutions and other well healed investors could legally invest in it. Simply put, CIST is now a well healed company with a healthy balance sheet that is bulletin boarded. IMO getting a listing is a very simple step they can take to ensure us all they are interesting in enhancing s/h value.
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