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Biotech / Medical : Techniclone (TCLN) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Baker who wrote (1012)	1/7/1998 12:12:00 PM
From: shero	Read Replies (1) \| Respond to of 3702

Jim, current management is why the stock has gone in a "straight-line from $7 to $1.75." Its not because of Davis, me, or you. Its because of the mgmt of this company. Not the shareholders, not the workers, but the managers. And want to give this mgmt team kudos. It isn't the prospect of a new CEO that is driving down the price of the stock but the uncertainty that it might not happen. And insider selling isn't doing anything to help. All of the things you point out are important but serious negotiations with a replacement partner are not going on now, and won't until a new CEO comes in. So a new CEO is priority A. Yes, some of the ground work has been done but no-one will seriously negotiate with Lon. Considering the performance of the first two partners he picked its a good thing.

To: Jim Baker who wrote (1012)	1/7/1998 1:24:00 PM
From: EZLibra	Respond to of 3702

Planet Earth to Jim Baker. I offered to answer any questions not relevant to TCLN but you haven't posted an e-mail address. Hiding something? As for off topic rumors on aol, did they concern my earlier positions in other companys - a position meaning ownership greater than one percent? Either the one that went from thirty cents to $18 or the other one which went from 1/6 to 6 3/16? I have paid my dues and earned my stripes, Jim Baker, no one has ever been in the same boat with me who did not have a chance to make a lot of money. Post your e-mail and keep off topic OFF TOPIC. I've got some bottom fishing to do.

To: Jim Baker who wrote (1012)	1/7/1998 1:32:00 PM
From: shero	Read Replies (1) \| Respond to of 3702

BTW I have asked you at least twice if you thought it was OK for Stone to be paying the touts with tens of thousands of options. You haven't answered. Why not?

To: Jim Baker who wrote (1012)	1/8/1998 2:26:00 AM
From: Maurice Winn	Respond to of 3702

Jim, as a prospective new investor looking at this stock, I have to say your following statement is wrong, at least for me. I'm very keen to know that the management are all the good things management should be. Managers can destroy companies faster than scientists or anybody else can build them. So yes, I would pass on making the investment because of management if I thought that was the case. "Imagine you were a new investor looking at this stock. Would you pass on making the investment because of management? No, you would have no opinion of management, so that would not be a big issue either way. But you would be concerned about the looming Reg-D cap period, the burn to cash ratio, the "maybe yes, maybe no" clinical trials, and the lack of partners." Of course, the other aspects you mentioned are also vital. As are many other things. The burn to cash ratio isn't important to me though. That just sets the time when new money has to be raised but doesn't in itself affect the price of that money. Buying shares now, or at the "out of money" stage doesn't inherently affect the value of the business. Though cash flow crises are never a good way to manage something as hasty and bad decisions can be made in the heat of the moment. On sheer buying and selling action, fear and greed, market prospects and all the rest, it seems like possibly a real deal at the current price = $1.70 or something. But market capitalisation is still substantial, so existing shareholders are far from owning a zero value stock. Although most would be feeling pretty sick about their investment just now. Davis is right with this one: "(1) TCLN will not run out of money, for a price financing is always available". True enough! Maurice