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Biotech / Medical : Editek (amex:EDI) hovering around 7/8. near all-time low.
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To: JuliusT who wrote (20)1/30/1997 8:33:00 AM
From: wombat   of 31
 
I think you guys should look to reviving the EDI board and start
averaging down.
1) Current price reflects 100% of the impact of the 30 million shares. I don't think it accounts for negotiated discounts and settlements with the preferred shareholders. Even at 75c on the $ thats .11cents per share.
2) With EDI's newest boardmember being the largest shareholder in
MIKL a food distributor what do you think of the possibility of retail sales via grocery stores of drug testing equipment manufactured by EDI and distributed by MIKL. The kits would then be mailed to EDI lab for analysis. Eventually the FDA approves home test kits that allow the results right on the spot at home and we now have a real market.
This is just my opinion but I can come up with no other reason why a
69 year old attorney that owns a zillion shares in 2 nasdac companies
would want anything to do with little EDI and at bottom fish prices I really like the angle.
Rick
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