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Biotech / Medical : Biotransplant(BTRN) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (1416)	2/28/2003 1:05:19 PM
From: jayhawk969	Respond to of 1475

My take is that it is obvious that BTRN could not work out the deal in the 30 day time frame with the liscensor. This IMO was the primary trigger for BK.

To: keokalani'nui who wrote (1416)	2/28/2003 4:13:16 PM
From: jayhawk969	Respond to of 1475

The conference call was pretty sobering. 1. BTRN was not making much progress to resolve the dispute with the school. Therefore BK became the best option to arrive at a settlement.Don continues to state that BTRN's belief is the school's claims are baseless. The issue will now be resolved in BK court. 2. Progress was being made to terminate facility leases, however , this will now have to be revisited. 3. The Nasdaq listing is subject to delisting as a result of the filing. They can appeal --this is being investigated. 4. The objective is to pay off the creditors and reserve any future royalty streams for the shareholders.