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Biotech / Medical : ARIAD Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (592)	8/8/1999 11:06:00 PM
From: LLCF	Read Replies (2) \| Respond to of 4474

OUCH, I just read the 10Q about the "death spiral" and it APPEARS to be one of the worst I've ever seen: "Variable conversion price is the average of the 4 lowest BIDS during the 22 business days[!] prior to conversion". So there is no possible way to squeeze 'em out, they'd have a whole month to decide to exercise and cover! I fired off some questions to the company, but this thing looks like they really got taken. These bad boys are worse than something out of the "Sting", or the scam artists on the street, literally. This company had NO FREAKING IDEA what they signed. It's literally worse than the mob lending money to a gambler at 100% a month or whatever. These bad boys could easily own most of the company. The unreal thing is that Hoechst seenms to have been scamed right along with 'em... aren't they a shareholder??? It's so sad, if a shyster bought a little old lady's house in this way, it could be voided and he could be thrown in jail, but in the high flying derivatives game... sniff.... the little old lady [Ariad] gets to leave here kids [the Ariad shareholders] nothing, and just go away. Makes me freakin sick to my stomach... bought some last week right around this price, I'm going to puke it out Monday till the bad boys are close to going away. Freakin shame. The whole board should be fired. Hope someone can tell me I'm wrong. DAK