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Biotech / Medical : Isolyser (OREX)- Any comments
OREX 0.223-34.4%Apr 3 5:00 PM EST
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To: Kelly R. Conaty who wrote (580)5/28/1998 6:08:00 PM
From: Eric Hovdesven   of 617
 
Before the meeting I heard questions one on one about stock price and some audience questions were pointed - like we heard the same thing last year about finding industrial uses for OREX from the previous guy...... to which the response was, well true and all we can say is we've hired this new guy and laid the ground work, but we focused more on stopping the bleeding and trying to salvage the profitable operations which had been hurt by our focus on getting manufacturing ability on the OREX product.

But in fairness, since there has been significant changes and there has been definite steps taken the whole atmosphere seemed difficult to say well the last guys took us down this path which was clearly the wrong one and why should we believe you aren't doing the same.

Clearly someone (the underwriters and the people who sold OREX as the second coming and thus justified a firm with no manufacturing experinece plunging into that area) messed up here. I suppose I'm hoping that the improvement in cash flow is a sign that the bottom has been hit. After all they only have one analyst and he's assigning a sell recommendation I believe.

Then again this is these guy's jobs and careers so obviously they are hoping for the best.
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