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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: axial who wrote (9954)	6/26/2002 10:59:43 AM
From: Montana Wildhack	Read Replies (2) \| Respond to of 14101

Continuing strong posts Jim. The trading today should trigger any remaining phone calls. The CIBC did not respond to Friday's close as I expected but have called this morning after the 2.95 bid close and the open under $3. I have covered and expect there will be necessary clean up of margined postions for all starting today. These are very tough times for DMX investors and for many investors across the boards. I continue to hold my position which is not based on price but expectation versus probability. I do feel that one change may be that there will be less bang with successful announcements immediately and far more penalty with unsuccessful announcements. My outlook for FDA is excellent. Others may post their opinions at their leisure. As I have frequently posted I will not continue to hold without the FDA. With the FDA, DMX has the opportunity to take WF10 to AIDs sufferers. While the near term is entirely into a strong headwind (in the sense that all things must be proven), the 100% ownership of WF10 offers huge compensations outsizing in my opinion contributions made by Pennsaid. My opinion is that FDA for Pennsaid is highly probable and that if achieved, the responsibility for its success rests in the hands of Johnson & Johnson - not Dimethaid. That plus the cash would give DMX a huge opportunity to see WF10 through to approval. Health Canada in my opinion will rule a conditional approval subject to further phase IV studies. That is they would be allowed to start selling; but, must collect further data as well. In this very difficult time and the very low price I suggest investors look at two situations: 1. The value of the company in current state with a topical arthritis cream approved/in late stage approval process in Canada and the US. Plus the value of WF10 with completed phase III data. What is that value? At $2 Canadian the company is worth less than 100 million Cdn. 2. Real assessement of the FDA processes compared to our situation and an arrival at a personal decision as to its likely future. In this I would include the fact that the MCA (UK) has a similar open process to the FDA as compared to the closed process of Health Canada. This stock broke down on Friday. Obviously support was gathered and I noted IT's unusual purchase volumes on Monday. This was not sufficient to bounce back above $3.30 and now its probable that a bottom will be searched. Best of luck to every investor. Wolf