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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: get shorty who wrote (61139)	10/22/2000 9:35:30 PM
From: zonkie	Respond to of 122087

Here's an article from Bloomberg last week, by the guy (Evan's) that COII claims libeled them. I doubt if this will help their share price _____________________ quote.bloomberg.com David Evans David Evans is a reporter for Bloomberg News in Los Angeles 10/16 17:05 Computerized Thermal Cancels Breast Scanner Contract (Update1) By David Evans Layton, Utah, Oct. 16 (Bloomberg) -- Computerized Thermal Imaging Inc. said Friday it has canceled a contract covering the first sales of a thermal breast-cancer scanner. The Layton, Utah-based company was to deliver 10 of the $500,000 systems to CTII de Mexico of Mexico City by the middle of this month under a contract signed June 6, the company said in a filing with the U.S. Securities and Exchange Commission. Just one has been built, the company said. Computerized Thermal said it refunded a $1.75 million deposit received from CTII de Mexico. The company also canceled a contract signed a year ago for the Mexican company to represent Computerized Thermal in Latin America. The U.S. company tried without success to renegotiate the terms of the sale, David Packer, its president, said in a press release distributed by PR Newswire. ``Although I am disappointed that this sale could not be completed, this action eliminates a potentially onerous financial burden,'' Packer said in the statement. Company spokesman Dee Rose said he was unable to comment further on the announcement. Computerized Thermal shares today rose 63 cents, or 17 percent, to 4.25 after falling 11 percent on Friday. The stock traded as high as $20.63 in March. No Options The company had agreed to give CTII two-year options to buy 500,000 Computerized Thermal shares at $1.67 each once the scanners were placed in commercial use, according to the SEC filing. On the day that was announced, the stock closed at $10.75. No options have been issued, the filing said. Computerized Thermal is seeking approval from the U.S. Food and Drug Administration for the breast scanner systems to be marketed as an adjunctive diagnostic test to mammograms and clinical examinations. In its SEC filing Friday, Computerized Thermal said it paid 200,000 shares of its stock in September 1999 to consultants William L. Mazilly and Amirali A. Rajwany, who arranged the now- canceled agreements with CTII. The company said the men will keep their stock. Each man received 100,000 shares. Since it was founded in 1987, Computerized Thermal has made just one sale of its imaging devices, that of a general-use thermal scanner in 1996 to a hospital in Thailand. The company had accumulated losses of $34.6 million through June 30. In August, Computerized Thermal Imaging filed a libel lawsuit in federal court in Utah against Bloomberg L.P. The suit alleges Bloomberg News wrote defamatory articles about the company.