The preferred sharehoders had a deal approximately as follows (I may not be giving absolutely precise #s here.): They were able to convert preferred shares to common at a cost to them of .80 of the average of the last 3 day closing price. This also meant, since the preferred shares had a constant value, that they got more common shares as the price dropped. So they were able to profit while sending the price down and diluting shares at the same time. I don't know if none, some, or all of them were shorting prln as well, but I wouldn't doubt it since they knew what they were going to do and could thus make a profit on both sides. Of course, they did nothing illegal technically so I am only referring to them as "crooks" ethically, but calls to the 911 of the ethical police just keep on ringing (like the good old Energizer) these days. One problem was prln didn't see the set-up (unless some insiders were in on it one way or another). Some of the preferred shareholders had worked this routine previously on other companies and probably still are. A similar thing seems to be going on with Response USA, ruok.
Your comments to Richard about the various hesitations over trials and results are upsetting. Did they have a death in the study and, if so, was the treatment implicated? What is causing the delay in results?
Your comments about my initial posting were very helpful for me in making me realize that I may have, at times, been lumping Androvir and AndroCar together in my comments and thinking. Now I am wondering if we all have a tendency to do that. In your message to Richard it sounds like your comments are about AndroVir studies and results but I am not sure if some of the comments refer to AndroCar. Now that you sensitized me to that issue, it does seem like it would be very useful for all of us to be absolutely clear about when we are saying something specifically about AndroVir or about Androcar. In fact, if prln has reason to delay on Androvir they may be inclined to focus on AndroCar results, or vice versa, although good outcome in either could probably make the company. At any rate, the 10/17/96 prln announcement about the safety results and patient progress in the AndroCar 5 month follow-up of the 3 month safety trial, including "increased energy and improved concentration," sounded very good so I was wondering if you also know of problems in the AndroCar study not mentioned in this announcement.
Larry aka Sun Byun (because its my wife's AOL account) |
