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Biotech / Medical : Procept (PRCT): 50% rise on high volume. Why? -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Shaffer who wrote (291)	11/12/1997 8:15:00 PM
From: Douglas	Read Replies (2) \| Respond to of 455

Hi Daniel, You called it correctly. Just-in-time financing! Procept will have to make an announcement of additional financing soon, or they will be out of cash. The issuance of more preferred stock will cause some dilution, but at least they will survive for now. I still believe they can turn it around. It sounds like you own some shares in Procept. Wasn't certain of where you got the Harvard connection. Mr. Erck, President, holds an M.B.A. from the University of Chicago. Mr. Higgins,CFO, holds an M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College. Excellent schools. Were you talking of a medical connection or Paramount Capital? Procept's main problem is that they are too conservative. They don't issue enough press releases. Wouldn't know about the stock options. My last two telephone calls and two faxes were not answered by Procept. One of my questions I asked was about options and was management going to take a larger interest in their company. I guess they(Procept)got tired of me publishing what they said on this website. Couldn't find any reference to pay cuts! Stanley C. Erck 1996 $231,000 Michael J. Higgins 1996 $102,000 Stock ownership is too little: All current executive officers and directors as a group 7 persons............................469,074(before split) 2.3%