Biotime-Nasdaq's best kept secret? Message Board

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Biotech / Medical : Biotime-Nasdaq's best kept secret?

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Nov 7 9:30 AM EST

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To: Todd N. Weisrock who wrote (1154)	10/28/1998 9:27:00 AM
From: Jim Roof	of 1432

One of Asensio's methods is to portray a company or a product as being more than what it actually is so that he may effectively then prove that neither can live up to his distorted expectations. He has done this with Biotime in at least three instances. First, he claims that Hextend was touted as a blood substitute. Biotime did use the term 'blood substitute' but at the time they used the phrase the prospect of a true blood substitute was nil. Even a glancing look at their literature reveals the nature of Hextend and other solutions as volume expanders. But Asensio still uses this one issue to justify his blanket use of 'fraud and scam' in relation to Biotime. Second, he points out that principals of BTIM were also at another firm that he believes was a 'pump and dump' scheme. Yet, it is documented that the BTIM execs had cashed out before the pump happened. Another rebuttal to this characterization of BTIM is the simple fact that BTIM insiders did NOT sell during the big runup of a year ago. I also do not recall a barrage of press releases and the like that usually accompany a 'pump and dump'. Ie., BTIM officials never artificially built up the share price and when the price DID soar they held their shares and never dumped them for their profit. Third, as you addressed, the idea that Hextend was on fast track was mere speculation on the behalf of any and all who entertained this thought. Personally, I think the FDA probably could have signed off on this one in an expedited manner but this approval method must be safely guarded from overuse and abuse. I would not be the least bit surprised if this rumor was the sole property of the short sellers, used once again to build up what is an unreasonable expectation among the less informed for the sole purpose of ensuring that they will be disappointed with the reality that is to come. I think it very likely that Asensio is deceiving his merry band of followers to sell short while he covers his 200k+ shares. Think about it. If he intended to continue to build his position then he should have let BTIM rally to the mid-high teens where he could add to his position. He speaks so surely of BTIM being a 1 dollar stock at some point in the future. He should have come out and apologized publicly so that BTIM might be boosted to near 20 once again where he takes up another 250k short position. After all, the certainty of his tone is uncompromising. What kind of fool is he? Either that, or what kind of fools does he think we are? Jim

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