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Strategies & Market Trends : BIOP <--------------- MEDICAL SCAM or CURE ?? -- Ignore unavailable to you. Want to Upgrade?

To: Judgement Proof.com who wrote (46)	2/23/2001 3:02:18 PM
From: Judgement Proof.com	Respond to of 66

BioPulse puts off call to shareholders signonsandiego.com By Bruce V. Bigelow and Penni Crabtree STAFF WRITERS February 22, 2001 After BioPulse's landlord asked for a letter of credit, the company called off plans to move to 8940 Kenamar Drive. Union-Tribune The price of shares in BioPulse International fell to a low of $2.25 yesterday, as the San Diego company postponed a conference call with its shareholders for the second time in two weeks. BioPulse has come under increasing scrutiny for the controversial cancer therapies it offered at a Tijuana clinic. After Mexican authorities ordered the BioPulse clinic to cease its experimental "alternative" therapies on cancer patients last week, BioPulse said it was selling its interests in the clinic. The company also announced that it's changing its name to California BioScience. The name change was not evident, however, in a statement that BioPulse issued to shareholders after the market closed yesterday. "Because of Dr. Reid Jilek's business travel in Europe," BioPulse said, "today's conference call will occur at a later date." The company said yesterday's conference call, which had been rescheduled from Feb. 15, was intended to address "significant corporate developments." Jilek was named BioPulse's new chairman and CEO on Tuesday. BioPulse President Loran Swensen, who apparently issued yesterday's statement, did not return calls seeking comment. In over-the-counter trading yesterday, BioPulse shares fell by 75 cents to close at $2.25. The company's stock began trading on Nov. 21 -- and soared within a few weeks to a peak of $11.63 on Dec. 6. Last week, the Federal Trade Commission started an inquiry of the company's advertising practices. Some medical experts dismiss BioPulse's alternative cancer therapies, which include using insulin to induce comas in patients, as useless and potentially risky. In its statement yesterday, BioPulse alluded to recent media coverage, saying "the focus on the clinics has detracted from the overall business objectives of BioPulse." Yet unforeseen developments may be outpacing the company's plans. In news releases issued on Feb. 7 and Feb. 13, for example, BioPulse said it was moving to a new 17,000-square-foot headquarters at 8940 Kenamar Drive in San Diego, where the company would expand its cancer vaccine production capability to accommodate its backlog of orders. BioPulse recently relocated to San Diego from the Salt Lake City area. But a San Diego commercial real estate broker said yesterday that the deal has fallen through. Dean Asaro of CB Richard Ellis said BioPulse withdrew from lease negotiations after the landlord asked the company to provide a letter of credit, which he characterized as "some additional security." The writers can be reached by e-mail at financial@uniontrib.com or by phone at (619) 299-3131.