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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (9603)	11/30/2003 10:58:57 AM
From: John Metcalf	Respond to of 52153

" don't know what the all-time high was, but I remember once calculating the market cap at $280M. This particular group had at least two of these babies running at once, each secured by a single rental property in San Diego." They also reported capital in the form of art work, which belonged to the chairman but was loaned to the company. And they were capitalized by the value of pre-paid advertising, which had been paid in the form of shares given to the ad consultants, who pumped the stock on the web in order to increase the value of their "free" shares. Of course, these people could sell their "free" shares as well as hold them, as you pointed out. SEC would probably say that enforcement of requirements for capital is the responsibility of the exchange. When an exchange won't enforce, to whom does one turn but the SEC? Again, the main point is how many shares are circulating, and whether they are registered in accordance with rule.