Dear Lord Ernie,
It seems we are not living far from each other, I am also from
Flanders. It's a small world, isn't it ?
Is it possible to have a copy of the letter ? Or put it on the net ?
So everyone can enjoy the good news about HEB !
And the battle continues .........
Asensio & Company: Hemispherx Report Reveals Insider 'Pump and Dump'
Operation
Wednesday, November 18, 1998 08:01 AM
NEW YORK, Nov. 18 /PRNewswire/ -- The following is being issued by Asensio & Company, a
member of the National Association of Securities Dealers, CRD number 31742.
Hemispherx Biopharma, Inc. (Amex: HEB) reported 24,692,340 outstanding shares as of September
30, 1998 in its Form 10-Q filed with the United States Securities and Exchange Commission on
November 11, 1998. This number is 2,983,589 more than the 21,708,751 outstanding shares reported
as of June 30, 1998 in its Form 10-Q filed on August 14, 1998. There were 64 trading days between
June 30th and September 30th. This means that Hemispherx increased its outstanding shares by an
average of 46,618 shares per trading day during the 1998 third quarter. Hemispherx did not report the
number of shares it had outstanding at the time it filed its Form 10-Q. Such disclosure is customary.
Hemispherx's Form 10-Qs' filed for the 1998 second and third quarters show a $9,863,725 increase in
stockholder's equity, before loss, deferred compensation and other accumulated comprehensive gain.
This means that Hemispherx realized an approximate average price of $3.31 per share for the
2,983,589 shares it sold during the period. Hemispherx's average daily high and low trade price per
share for the third quarter are $8.05 and $7.34, respectively. Assuming that the newly created shares
were sold at the average high or low trade prices, Hemispherx's insiders realized between $14,132,888
and $12,026,311 in profit in the third quarter from Hemispherx's fraudulent stock promotion.
Hemispherx began its Ampligen-CFS based stock promotion after over 15 years of trials had failed to
result in obtaining FDA treatment approval for at least five diseases. We believe that the fact that
Ampligen is a 25-year-old, off-patent never approved drug and that CFS is an uncommon,
psychosomatic condition, makes Hemispherx's stock promotion perhaps the most blatant fraud that
exists in U.S. securities market today.
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Result : A counter attack of HEB .......
Hemispherx Warrants and Options Strengthen Balance Sheet
Wednesday, November 18, 1998 01:45 PM
NEW YORK, Nov. 18 /PRNewswire/ -- Hemispherx Biopharma, Inc. (Amex: HEB) today said that the
exercise of warrants and options to purchase common stock during the nine months ended September
30, 1998, generated cash proceeds to the company of $9.6 million.
The exercise of warrants and options to purchase common stock is the primary source that increased
cash, cash equivalents and short-term investments to $15.4 million at September 30, 1998, compared
to $9.9 million at December 31, 1997. The company also completed a private placement that generated
proceeds to the company of $2.25 million during the first nine months.
The company believes that the exercise of warrants generally reflects the strong appreciation in the
Hemispherx share price since the warrants were issued, as well as the holders' confidence in the
company's prospects. To receive favorable long-term capital gains treatment, investors must hold the
common shares they receive from the exercise of the warrants for at least 12 months.
Hemispherx said that no employees, officers or directors exercised any vested warrants in the third
quarter. The company reaffirmed that there had been no significant selling of common shares over this
period by any member of the executive management team or board of directors. While certain lock-up
agreements regarding shares owned by Hemispherx Chief Executive Officer Dr. William A. Carter
expired recently, he said that he intends to be a net buyer for the foreseeable future. Year-to-date, Dr.
Carter has been a buyer of Hemispherx shares and has sold none.
After conversion of warrants during the third quarter, the company's common shares outstanding stood
at approximately 24.7 million. The company's 10-Q filings report shares outstanding as of the end of
the reporting period, and not as of the filing date, in keeping with practice among such leading
pharmaceutical companies as Bristol Myers and Schering Plough.
The company's lead drug, Ampligen(R), is currently being evaluated in Phase III clinical programs in
North America and Europe and is also available in the U.S. under a cost-recovery program authorized
by the FDA and administered in conjunction with Olsten Healthcare (NYSE: OLS). At this time, there
is no fully approved treatment specifically for CFS and, to the company's knowledge, Ampligen(R) is
the only drug authorized for Phase III clinical testing in CFS in the U.S.
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I love "stockfighting" ! |
