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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Hermann who wrote (1316)	8/8/1999 11:26:00 PM
From: Ken W	Read Replies (1) \| Respond to of 1386

Mike, Here is a novel idea if you don't know much about the company....read the SEC filings!! Of note is the S-3 filed on July 30 offering for sale 8.5 million shares (not 4 MM) of the common stock that some are calling a secondary offering. This is common stock Mike, not preferred stock that pays a div. or has any extra benefit. Now, you have to ask yourself. If the company is offering 8.5 million shares of common stock at 19.50 why would I want to buy the same stock at 18.75? The company needs to raise capital to keep things going and to fund the "studies" approved by the FDA....Some are calling the approval of the studies the approval of the product...far from the truth. The FDA has only approved of the procedures outlined by the company to go forward with possible final approval of the procedure. This company has a long way to go to final approval. Now, that certain questions have arisen about the process involved with the blades from Ireland, even the study approval is in jeopardy. Read, read, read, Mike that is the only way to determine if you want to become involved with a company. BTW, a secondary is not an IPO (Initial Public Offering) meaning the first time. (not second) Secondaries are dilutive and generally show that a company is in trouble cash wise. Ken