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Biotech / Medical : Summit Medical (SUMT)

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To: C Overton who wrote (1)	3/3/1997 8:29:00 PM
From: Steve Hudson	of 14

Undoubtedly, the fact that Haas quit has no positive interpretation. The best case for investors would be simply that he thought the situation ripe for an immediate turnaround when he accepted, and when he discovered the accounting errors, he just walked away. Time will tell. OTOH, I would not give up here. For my own account, I increased my holdings by 50% at 3 3/8 and another 50% at 3 9/16 today. In one sense it should be a no-brainer: cash value of over $4.00, book value of about $5.60, a private market value of about $12.00 today. But these values will be realized only by the patient. Most players and fund managers don't want to touch SUMT right now. Best of luck to you. Regards, Steve

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