Ethical Holdings (Ethcy) - seriously undervalued Message Board

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Biotech / Medical : Ethical Holdings (Ethcy) - seriously undervalued

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To: Preston Lurie who wrote (303)	11/10/1998 8:38:00 AM
From: Joe Dancy	Read Replies (1) of 345

Concise summary: Elan will run the company. New ELN approved CEO, new ELN board member, $16 million in capital injected, ELN approved business plan, renegotiated contracts for drug development, at least 7 programs that we uneconomic dropped, cuts incurred to staff, development will focus on technical feasibility and economic viability, company will be much more focused. New CEO can make changes as necessary. Of course, ELN has the option to covert loan into 70% of the outfit, so the bad news is we are diluted. Then again, better diluted than dead. Hard to believe that a company going public a year or so ago in London for a split adjusted $50 a share now sells for $1. Somewhat surprised that a class action lawsuit has not been filed against the company yet. Joe

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