Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Steve Harmon who wrote (1505)	10/21/1998 4:13:00 PM
From: Dr. John M. de Castro	Read Replies (4) of 2742

I am seriously bothered by this stipulation in the Bluestone agreement. So, I'm reposting it and want to point out just how much Bluestone could get from this deal. "7% of the equity and research payments ($133,000 in aggregate fees) to BlueStone should the Company execute definitive agreements with PMC as BlueStone assisted Cistron by introducing the parties. Cistron also would be obligated to pay BlueStone 7% of any license fees or milestone payments PMC may make to Cistron should PMC enter into definitive agreements and exercise its option under such." (Source CIST 10K)" This statement implies that Bluestone could receive $2,170,000 in payments from the PMC deal. This is in addition to their other fees and options. I'm amazed that no one else is appalled by this. Since when does a consultant command such an exhorbitant fee. I can't believe that CIST management agreed to this. It sure makes me want to see the details of the Genome deal. If it is similar, CIST could be giving away major chunks of stockholder equity to consultants who should be working on a fee for service basis. I'm sorry if other don't see it this way, but I'm disgusted and see this as a complete scam. John de C

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