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Microcap & Penny Stocks : RECEPTAGEN---RCEPF

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To: Brian Murphy who wrote (128)	1/29/1997 2:59:00 AM
From: Bruce Hoyt	of 267

I talked to Joe Baba today and came away with no new details but a much better feeling about the future for Receptagen. He indicated there was still a lot of activity going on regarding new financing for the company, although he was not at liberty to discuss who, what or when. What impressed me the most, however, was that he and a number of other key individuals are still there daily, even though they have technically been laid off and not paid for two months. It was clear they fully expect something positive to happen soon or they would have bailed out already. Hoping some of the new-found energy from the FTEL/DCTC investments rubs off on this one! Bruce

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