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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (19457)	8/31/1999 11:50:00 AM
From: Jeffrey L. Henken	Read Replies (1) \| Respond to of 25711

WASP OTC BB .96 x 1.00 NEWS - Wasatch Pharmaceutical Inc. - Update MIDVALE, Utah--(BUSINESS WIRE)--Aug. 31, 1999--Wasatch Pharmaceutical Inc. (OTC BB:WASP). Many inquiries have been made concerning the effectiveness of our over-the-counter (OTC) products being submitted for FDA approvals as opposed to the success of those same products in a clinical setting under the supervision of a physician. These questions concern a recent news release indicating our application for approval on seven OTC products which include Cystic Acne, Folliculitis, Skin Rejuvenation, Contact Dermatitis, Seborrhea, Cold Sores and Athletes Foot. In a clinical setting under the supervision of a physician, a 95% success rate is achieved with all seven skin disorders. Outside the clinic, with the exception of Cystic Acne and lesser grades of Acne, we would expect to see results that approximate the results within our two Utah clinics. For Acne, we would expect to see a success rate of approximately 70% due to the high number of teenagers in this group, some of whom will not be committed to a clear complexion. Another matter that has come to our attention are Web site comments that are erroneous. For the most part these comments have been accurate, but in some cases we feel obliged to correct statements. Recently, it was indicated that the Company has either a significant amount of convertible debentures or Preferred Shares outstanding. This is inaccurate. The Company has no convertible debentures outstanding and only 49,258 Preferred Shares. The Company continues to pursue all of its goals as previously announced, including high growth over the next six years with significant revenues coming in the second year from additional Company-owned clinics and the introduction of new OTC products. NOTE: Any statements released by Wasatch Pharmaceutical, Inc. that are not strictly historical are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the company's filings with the Securities and Exchange Commission. Contact: Wasatch Pharmaceutical Inc., Midvale Gary Heesch, 801/272-1709 biz.yahoo.com