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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI
CCSI 24.53-1.8%Nov 7 9:30 AM EST
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To: Eddy Blinker who wrote (5187)6/4/1999 12:50:00 AM
From: Carl R.  Read Replies (1) of 5736
 
Hi Eddy. It's been a long time since I looked at this company. I have two young boys that both had to be tested for bilirubin, so I am well familiar with the current technology. A small amount of blood taken from the heel gives an accurate result in a very short time without much expense. I would presume a chromatic machine would have the advantage of being non-invasive, but that is no big deal. I would think some accuracy would be sacrificed though, and costs using the machine would be higher, so I remain skeptical about the prospects for this company.

Their financials are bleak indeed. No money. No book value. No sales. No deposits for machines. They can't even pay their legal bills which keep racking up. They have only one asset of value, and that is their market cap. Therefore it seems obvious that they will do a secondary of some kind to raise money to allow them to continue to operate. The usual scenario would be to announce the secondary and to have analysts start issuing strong buy ratings to drive the stock up. Then would come the secondary, after which the stock would fall back to its present level or slightly below.

Carl
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