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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (980)	12/15/1997 12:04:00 AM
From: BDR	Respond to of 7041

<<IBM, MO, PD are not development stage businesses.>> A startup raises money from new investors (from secondary offering and from SP) then turns around and uses it not on product development but to buy stock back from other investors? What do you call the scheme where you pay off early investors with the income from the later ones? It's on the tip of my tongue....starts with a P.... Sorry, but if they have a new product to get through trials, FDA approval, production, marketing and distribution they ought to have a better use for the funds right now than a stock buy back.