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Biotech / Medical : Shaman Pharmaceuticals has been moving on big, relative, -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Shaffer who wrote (821)	4/20/2001 2:13:28 PM
From: JMarcus	Read Replies (2) \| Respond to of 838

NSF isn't on the shelves at GNC yet. Shaman believes it could be another 30-60 days. One of Shaman's biggest assets is its tax losses. I've heard that bankruptcy law can make it somewhat easier for those to be transferred to a company that purchases substantially all of the business. I expect that Shaman will try to sell the NSF business to a company that needs the tax losses and that the deal will be structured in such a way as to allow the purchaser to utilize those tax losses. I think Shaman would like to retain some of its R&D projects. I think there's still a good chance that something will be salvaged for the stockholders, but it is far from a sure thing. Marc

To: Daniel Shaffer who wrote (821)	4/20/2001 9:22:02 PM
From: JMarcus	Respond to of 838

I'd been away on vacation all week and hadn't noticed that the 10K was filed on April 17th. biz.yahoo.com I see that the company realized $1.1M from the assignment of their master lease. One of the reasons for filing the bankruptcy was to get control over the right to assign their below-market lease and realize a profit on it. A Plan of Reorganization will be filed in the second quarter of this year. Part of the plan is to sell certain assets, including "Shaman's public shell and associated net operating losses, pharmaceutical and dietary supplement patents and trademarks, plant material and rights to products currently in the product development pipeline. . . . Unless we are successful in our efforts to sell both tangible and intellectual property assets, we will be unable to fund our current operations beyond May 2001 . . . ." I couldn't find anything in the 10K that spoke about any upside potential for existing shareholders. Marc