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Biotech / Medical : PLSIA (Premier Laser Systems) -- Ignore unavailable to you. Want to Upgrade?

To: Pluvia who wrote (1413)	12/19/1997 4:47:00 PM
From: Pancho Villa	Respond to of 1773

>>So far I have seen a lot of personal attacks but no credible argument regarding my concerns about this company's management and product line.<< Not from me! If I were you I would short the hell out of this puppy! That is what I do, put my money where my mouth is. Check my posts at Roger's. I am short quite a few stocks. PLSIA is not one of them though. Pancho PS: don't take it personal. I am just an average Joe just like you. Good luck with your investing or whatever it is you do for a living.

To: Pluvia who wrote (1413)	12/19/1997 6:26:00 PM
From: Sr K	Respond to of 1773

Bulls don't have to dispute reality, but bears might. The A wts will get exercised. Anyone who thought that if the stock got to $6.50 the co. might not get their $26 m, by now realizes that you add PLSIA + PLSIZ and any stock price above $5.875 means full exercise. Bear Stearns exercises any that slip through. So, $22 m + $26 m cash = $48 m Overall, expensed R&D was productive = $38 PR since May was worth another . . . $40 = $126/16 m shares = $7.875 Who wouldn't pay another 20% for the upside? I would, and although I've sold some, and sold covered calls, I'm a bull and unwound most of the May calls during the exercise and tax loss "panic". The Z warrants are in position (all prior expenses including 2 UPO's to DHBlair) to bring in another $56 m - the in-place financial structure is another (off-balance sheet) value. Add the $56 m (and E-1 and E-2 shares) and you get $182/25 m shares = $7.28 I expect Co. will do $7.5 - $8.0 m sales this quarter (if they pass $9.0 I'd be surprised). A little less maybe than some bulls hoped for, but even if the company is half a quarter from where the bulls wanted it to be, sometime in 1998 the horizon will be way past that. 41% margins are likely to lead to significant profits, possibly enough to cause the E-1 and E-2 Escrow shares to be earned and/or issued due to a high enough stock price. And from there, technically, the stock makes a run at the May high. I don't believe in Santa or the Easter Bunny.