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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (386)	10/31/2000 10:39:51 PM
From: Geigartt	Read Replies (1) \| Respond to of 1833

I spoke with a lawyer at a large Manhattan corporate firm who deals with M&A (mergers and acquisitions) so he has some understanding of the SEC. From that discussion: Our right to know is rather limited. Anything they tell stockholders is at their discretion. The only thing they are required to divulge is what the SEC requires for the filings. Details of those requirements were limited by the length of time available that I could pull from the lawyer, but he did say that things like ownership (don't know about private vs public) are required in the 10K and Q. So whatever we have a "right" to is in the 10Q. Assuming they have filed properly, that is our only source because we are low on the pole. I mentioned in an earlier post that Glass being whoever he is, isn't going to say anything for fear of being misquoted and getting sued. It would be nice to have Glass say "off the record, hang on, big stuff is in the works." But that would be worthless. I say that because another friend doing research (being paid) by a small company was lied to by the CFO of that same company about numbers he was using in the research. I won't say "all" but they (insert your qualifier here) fudge the numbers. My SI profile is pretty cynical in a joking way, but look at where we are (in this discussion). We put substantial sums of money on the line with little real information to go on, and a CEO who has no obligation to even return a phone call. Why? Because he does'nt have anything to say to us and because 3 or 4% dividends (we're not in dividend stocks) and 5 or 6% annual growth isn't enough for us. Are we fools? Maybe not. Are we gamblers -- you bet your Gl-ass we are. It is not unusual to be in this position, i.e., watching a company that on paper could be valued 2 or 3 times its stock price. I don't have any current names, but there are many mid cap names that have large cash holdings + % ownership of other companies and when you subtract those entities, you are left with a value for the company of a couple bucks. I don't know Glass from a hole in the ground and even if he had some sterling record, how do we know his font of bright ideas isn't dry. But I'll sit and wait and wait and wait...