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Biotech / Medical : Antex Biologics (ANTX)
ANTX 1.120+3.7%1:44 PM EST
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To: gammaray who wrote (1158)2/1/1999 10:43:00 PM
From: Amigo Mike  Read Replies (1) of 1476
 
Hi Neil,

Antex referred to it as a "cashless buyback" in their press release. Simply, Blair had the option to purchase 7.1 million shares at an average .42 per share. This represented a major drag on the share price because of the lower exercise price and sheer dilution should the options be exercised. Antex cut a deal with the current option holders whereby they booked a charge against earnings and retired 50% of the outstanding options and allowed the rest to be converted to common immediately. This removed the overhang and dilution factor weighing down the stock.

Yes, Antex is still in the R&D stage. And the risk is obviously more. However the opportunity exists here to gain a distinct advantage by trading the waves and effectively increasing your share position or systematically reducing your cost basis. Either way, while Antex is still undiscovered, you can gain a very low cost basis position in the stock over time and ...... my feeling .....is Antex will make me very wealthy within the next few years. As long as SmithKline and Pasteur are pumping out the R&D money and trials continue to be successful .... I will stick with Antex all the way. So far, everything Antex has done has proven itself. Now, they just need to push those trials through quicker.

Amigo Mike
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