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Biotech / Medical : CHDX--US China Industrial Exchange

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To: Bill Bishop who wrote (53)	8/15/1998 7:28:00 AM
From: WWS	of 77

Bill, in the 10-Q operations statement $288,000 appears under "Miscellaneous Income/Expenses". My guess is that this is the "missing" revenue from Beijing United. If so, no wonder they'd rather not draw our attention to the fact. If they're charging $6,000 (US) per birth, this is just 98 births for the quarter (about 1 per day), which probably means that they're filling only 2 or 3 of their 20 beds. In other words, operating revenues from Beijing United should be $2.8 million per quarter, 10x what seems to be the case. I think that I will call them today (maybe can talk directly to one of the principals) or Monday if not successful today. Bill.

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