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Biotech / Medical : Gum Tech (GUMM)

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To: Mad2 who wrote (128)	3/6/1999 5:13:00 PM
From: DanZ	Read Replies (1) of 133

Mad2, My apologies...I meant to ask my question about your short position through Olde, not Datek. So here it goes again. Did Olde tell you that you had to cover your short position within 10 days after the settlement date? Again, if you consider this too personal, no need to reply. I'm not trying to get nosy into your business; I'm just trying to find out how the rule is applied in practice. Did you know that you had to close out your short within 10 days or did the rule not apply to you? I'm just trying to understand the rule. It is my understanding that GunnAllen customers own between 60 and 65 percent of GUMM. That is substantial and you can bet that I keep my eye on GNLN on Level II. They have yet to be on the inside offer and are almost always on the inside bid or very close to it. Their offer is usually way away from the market, sometimes up to 1 point from the inside offer. This tells me that GunnAllen continues to buy, either the market maker for his/her own account or their customers. What you can't see on Level II is if GNLN sells at the bid. You can only see their offers (limit sell orders). Their market maker's actions are consistent with GunnAllen's rating on the stock, which is buy. They have owned GUMM for a while and I seriously doubt if they will change their rating any time soon. GunnAllen believes in the future prospects of GumTech and several GunnAllen employees own the stock. Of course, something could happen to change their opinion, but I don't see that happening in the short term because the company is growing in accordance with their projections. With the additional revenue from Zicam, GumTech may even exceed their current projections. What more do you want to know about Geltech LLC? Maybe I can answer your questions?

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