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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI -- Ignore unavailable to you. Want to Upgrade?

To: JanyBlueEyes who wrote (5345)	6/14/1999 9:57:00 AM
From: JanyBlueEyes	Read Replies (1) \| Respond to of 5736

Possible pricing The company stated in it's press release that they will announce the date of a conference call which will "address the marketing and distribution plans" and also discuss "the Company's business plans for other applications of its technology". To get an idea of possible numbers involved, I have shown below some information that has been published concerning pricing and market size fyi: From Message 7635520 - Contemporary Pediatrics December 1998: ".....For each set of tests, the operator places over the unit's sensor a $10 TLc-Lensette (disposable tip)....The BiliTest system, which includes the sensor, computer of palmtop, and printer, sells for about $3000...." ----- From techstocks.com - CONFERENCE CALL TRANSCRIPT 9/17/97 ....The World Health Organization has published the current annual birthrate of approximately 4,000,000 births in the United States, with approximately 10% of these births being premature infants. Using numbers of individual bilirubin tests on newborn infants (heelsticks), which are not part of a general panel blood test, the Company estimates there are approximately 15,000,000 bilirubin blood tests currently performed annually, in monitoring Bilirubin infant jaundice in the United States. In making this conservative estimate, the Company assumed -averages of one test (not part of a panel test) for full term infants in hospitals before discharge and one test at or after discharge, -and an average of 1-2 (or 1.5) tests (not part of a panel test) for premature infants in hospitals during an average length of hospital stay of 11 days, with the remaining tests representing infants treated after discharge. These assumptions were based on publications by the World Health Organization, the American Academy of Pediatrics, independent market studies commissioned by the Company and business proposals from potential marketing partners.....

To: JanyBlueEyes who wrote (5345)	6/14/1999 11:39:00 AM
From: Marconi	Read Replies (1) \| Respond to of 5736

Hello Janybird: 4 observations: -75 units in hospitals for evaluation does not wash with reported revenues, and another 500 will result in additional miniscule revenues? -CCSI press release talks extensively about forced conversions at premiums--a future event of dubious likelihood--yet there is an instant 10% discount which apparently was not enough in the last week to make the deal Lehman deal for money fly -Lehman is fronting money--I think it smacks of factoring used by businesses in trouble to continue to attempt to operate -8K should reveal the mechanics of how much Lehman got to front money and I would expect some additional terms to be revealed which shows how Lehman can bail without much at risk. Conclusion. This press release does not add up. The 8K must reveal the core of the deal and what's in it for Lehman. This is not money supplanting an ongoing business concern. This is risk capital that is a bet your company proposition. There should be substantial strings attached to protect the Lehman money from major loss. Best regards, m PS I have a sense of deja vu with this. The details will tell.