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Pastimes : Ask Todd Smith -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (7)	9/30/2000 1:08:48 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 53

A lurker points out that there were 47 million shares out for Fountain as of 12/97, and 2.4 million as of 12/99. I went to the SEC disclosures and found this..... In order to facilitate the conversion of the Company's Preferred Stock and to enhance the market price and liquidity of the Company's Common Stock, the Company effectuated a one for twenty reverse stock split, specifically, a conversion of every twenty issued and outstanding shares into one share of the same class of Common Stock as of December 11, 1997 (the "Reverse Stock Split"). As of December 22, 1999, the Company had 2,380,301 shares of Common Stock outstanding. So.... I'll multiply the basis for Fountain in the "cheat" portfolio by 20, and reduce the number of shares purchased. Again, that basis was the mean between a quarterly high and low, so this is all very approximate. I'll leave the commission at $500 to reflect the fact that it was and still is a penny stock..... that one would have been buying 20K shares to reflect the 1K shown for today.

To: scaram(o)uche who wrote (7)	10/3/2000 9:24:50 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 53

To complete the picture, a SI biofreak (thanks, D.!) sent an electronic copy. I'll write Jill to let her know that I've posted a message that was previously deleted by SI staff. Subject: Fountain Pharmaceuticals (FPHI) \| Previous \| ------ \| Respond \| Remove Navigation To: +Mark Fisner From: +Mark Fisner Aug 19 1997 11:49PM EST Reply #37 of 37 Received this from a friend: Tuesday August 19 4:31 PM EDT Company Press Release Merck, Fountain Pharmaceuticals Agree to Jointly Develop New Drug Encapsulation and Delivery Systems Largo, FL -- Fountain Pharmaceuticals and The DuPont Merck Pharmaceutical Company have entered into an alliance to construct chemical compound bioplacement and availability systems. Fountain, located in Largo, FL , will use its Solvent Dilution Microcarrier methodology to produce small-molecule drug delivery modules based on DuPont Merck's drug leads which DuPont Merck will screen for activity. Financial details of the agreement were not made public. DuPont Merck, headquartered in Wilmington, DE, will provide Fountain upfront and annual payments as well as majority royalties on any commercialized drugs. Fountain Pharmaceuticals remains the sole licensee of this and other related encapsulation systems based on Fountain's proprietary bioavailabity products. The companies will provide further information at a later date.