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Biotech / Medical : Ore Pharmaceuticals Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (19)	8/1/2008 11:26:42 PM
From: Mike McFarland	Respond to of 50

Ore Pharmaceuticals Reports Second Quarter 2008 Financial Results phx.corporate-ir.net The Company expects to eliminate approximately $7.2 million in salary and benefit expenses per year I'm sure that was meant to say THIS year, but a sad ironic twist is that you can extrapolate those financials into next year and it all comes out nice and even, everything evenually trends to $0. It looks as though, assuming no money comes in, that they'll finish this year with $8 to $10M--and the current marketcap is just under $8M. That's a stock priced free, which I suppose is okay if you follow the trend down, but there is obviously an increasing chance as the marketcap trends to zero that a buyer finally steps up. I'm not going to say what I need out of this to be whole, but I will say that this is either stupid cheap with great leverage, or a trap. Well, we know it was a trap a year ago. But so was Washington Mutual, so who cares. Who knows, maybe some of the money that has been tied up in Genentech will slosh into the sector and the microcap biotechs will do well over the next year. It wouldn't take much to make an $8M penny stock double or triple. And there is nothing better when you've been in the hole, to actually be made whole. I wont hold my breath (just my nose).