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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI

CCSI 29.42

+0.3%

Nov 3 3:59 PM EST

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To: Gurupup who wrote (2577)	6/9/1998 9:26:00 PM
From: JanyBlueEyes	Read Replies (1) of 5736

NEW -> RENEWED BUY: CHROMATIC COLOR SCIENCES (CCSI 6 3/4) Market Trim Tabs - Charles Biderman, President Who's Commiting Fraud -- CCSI or Asensio? Mt. Sinai Pediatric Chief Says Asensio Either Very Stupid Or Very Venal Asensio & Company came out with a report June 9 that Mt. Sinai Pediatric Chief Dr. Ian Holzman claims is a "Big Lie". After faxing Dr. Holzman a copy of the Asensio report he quickly noted the following major discrepancies. Under Summary & Recommendation, the report states, "The Colormate III does not contain any new technology and can be easily duplicated using standard, commonly available components. In fact CCSI's FDA approval is based on the fact that the Colormate III is 'substantially equivalent' to other existing colorimeters, including one that has been on the market for well over forty years." Dr. Holzman replies those clams are a "patent lie". The FDA approval was based on the fact that the Colormate III produces results "substantially equivalent to blood". Yes, the physical technology of shining a light on the skin is no big deal. What is unique, he says, is the way the data is processed and how the computer-based algorithm transforms the light into data that counts bilirubin. Nowhere in the Asensio report is there any data that says the Colormate device is the only device that produces results the equivalent of a blood test. The claims Asensio makes about the market size is equally outrageous. "Bilirubin tests are done internally and cost hospitals $1 to $2 per test.....Only babies that appear jaundiced are tested for bilirubin. These tests require only a small drop of blood and the sample can be accumulated to allow large batches to be automatically processed simultaneously." Obviously the person who wrote this has never had a child. Ask any parent what it's like to watch your newborn having his heel pricked in an attempt to draw "only a small drop of blood". If your newborn is yellow, after the blood is finally drawn, do you want to wait around for hours, days or weeks for a hospital lab to da a batch process or even a rush? If your baby was not born in a hospital, what parent wants to wait and what pediatrician wants to send drawn blood to a lab when there's the Colormate III? By the way the marginal cost for a Colormate III test is $0. There are many other claims in the Asensio report that Dr. Holzman claims are just flat out wrong. What totally amazed us is that as of 11:30AM EDT on June 9, not one member of the financial media has been in contact with Dr. Holzman. This is not about just a difference of opinion. Particularly if the Asensio report left out on purpose that the FDA approval was due to the Colormate device being the equivalent of blood. A question for the SEC: Since CCSI was not borrowable when the stock was at 16, were all the sales over the past few weeks legal long sales? A question for the US Attorney: Is it legal to knowingly disseminate inaccurate information over the internet and via conference calls for the express intent of driving a stock price lower?

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