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Biotech / Medical : Paracelsian Inc (PRLN)
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To: Harold Stone who wrote (4196)2/17/1999 8:05:00 PM
From: John H. Farro  Read Replies (1) of 4342
 
Hayley,

They say the three keys to a good business is management, management, management. The old board of directors, consisting of Keith Rhodes and his cronies, were incompetant at best. There is significant evidence indicating that Rhodes' leadership went beyond incompetance into the realm of criminality. In January 1998, when the company was nearly bankrupt and the stock price was down to 1/8, the company got an entirely new management team. Not a single member of the old Board remains. I am convinced that current management is honest and is working toward the best interest of the stockholder. I also find it hard to believe that a company as small as PRLN could have a more competant board of directors.

While PRLN still is a bit risky, it is on much more solid ground than it was a year ago. It is now on the verge of making its first profit. I agree with Harold that things have never looked better.

Robin
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