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Biotech / Medical : Biocontrol Inc.

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To: Michael Kaufman who wrote (91)	12/19/1996 7:42:00 PM
From: Richard L. Rethi	of 100

Michael -- Sit down! This story if from the front page of the Indiana Gazette, dated 12-19-96. Summary only after headline "Biocontrol reports losses, seeks to issue more stock -- Documents filed with the SEC this week - BICO lost more than $29 million last year & $16 mil during first 9 months of this year - $11.6 mil in 1994 - $7.8 mil in 1993. Company directors plan to ask investors for approval to increase number of BICO shares on market from 60 million to 100 mil. Told the SEC it plans a 2-24-97 stockholders meeting in Pitt. As of 12-96, there were over 46 mil. shares issued & outstanding. Bico has working capital of $3.4 mill. as of 9-30. Pitt. P-Gazette reports CEO's annual salary from BICO - $250,000, frim Diasense - $150,000, from Petro rem and IDT - $160,000 --more to follow

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