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Strategies & Market Trends : 2003 Canadian Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Miner who wrote (48)	1/22/2003 8:54:28 AM
From: Al Collard	Respond to of 790

DMX-t...in the news: Globe says Dimethaid director Sooley unloads shares Wed 22 Jan 2003 The Globe and Mail reports in its Wednesday, Jan. 22, edition that Dimethaid Research director Daniel Sooley sold 22,700 common shares in the drug development company on Dec. 4, according to the latest insider trading reports filed with the Ontario Securities Commission. The Globe's Insider Trading column reports that Mr. Sooley sold the shares at prices between $2.75 and $2.82 to reduce his holdings to 14,361 shares. Also during December, Mr. Sooley sold an additional 74,100 shares held indirectly, at prices between $2.58 and $3.02, to reduce his indirect holdings to 20,500 shares. Dimethaid stock slipped 15 cents to close at $2.32 on the Toronto Stock Exchange Tuesday. The stock has a relatively wide 52-week trading range of $6.10 to $1.47.

To: Miner who wrote (48)	1/23/2003 9:05:39 AM
From: Al Collard	Respond to of 790

DMX-t...in the news: Dimethaid announces pricing of rights offering newswire.ca

To: Miner who wrote (48)	3/7/2003 5:51:54 PM
From: Al Collard	Read Replies (2) \| Respond to of 790

DMX-t...in the news: Dimethaid offering scuttled by accounting troubles Fri 7 Mar 2003 News Release Mr. Eric Pelletier of the OSC reports ONTARIO SECURITIES COMMISSION - IN THE MATTER OF DIMETHAID RESEARCH INC. At a hearing held today, an independent panel of the Ontario Securities Commission heard and dismissed an application by Dimethaid Research to review the director's decision dated Feb. 20, 2003, objecting to a proposed rights offering made by the company, which objection was made on the following basis: 1. The annual financial statements of the company for the year ended May 31, 2002, are not in accordance with Canadian generally accepted accounting principles. In applying Canadian Institute of Chartered Accountants Handbook Section 3860, financial instruments, an acquisition made by the company ought to have been treated as equity, not as a liability. 2. The consideration owing for the acquisition was on an interest-free basis over a period of five years. The director noted that the obligation should be discounted to reflect its true value as at the balance sheet date (being the date of acquisition). At the commencement of the hearing, the company advised the commission that it agreed to restate its financial statements in accordance with point 1 above, concerning the treatment of the obligation as equity, not as a liability. Thereafter, the hearing progressed on the issue of whether a discount to the consideration owed was required. After hearing the evidence and considering the submissions of the company and staff, the commission dismissed the application to overturn the director's decision. The commission found that the acquisition constituted a business combination and therefore Section 1581.22 of the handbook applied. In the event the company wishes to proceed with its rights offering, it is required to record the fair value of the consideration to be paid for the acquisition applying a proper discount rate.