Ethical Holdings (Ethcy) - seriously undervalued Message Board

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

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To: Joe Dancy who wrote (313)	12/16/1998 10:36:00 PM
From: tim wilson	Read Replies (1) of 345

per the elan loan agreement; page 4-- within six months the company intends to offer shareholders rights to purchase convertible debt at a conversion price of $5 per ADS (same price as Elan) or the market price, whichever is higher. management believes that the current stock price of $5 is low, and that over the next several months as the story is better understood, the stock will be higher, at which time additional financing could be pursued -this is a company with around $20 million of annualized sales - more cash than debt, excluding the elan convertible debt, -a market capitalization of only $7.5 million, - two new highly regarded and experienced executives with significant option incentives at $5 per share -and strong ties to Elan's resources --business pipeline, financial and otherwise seems to have limited risk and substantial upside -Tim

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