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Biotech / Medical : Immunomedics (IMMU) -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Lapsansky who wrote (214)	1/11/1998 9:05:00 PM
From: mallardq	Respond to of 371

Your comments were right on target. I thought that Lehman was the savior that would put together the capital deals or a sale of the Company that made sense. What happened? Nobody seems able to respond as to the status of Lehman and their efforts. Not to much makes sense with the recent actions. I can't decide if its a strong will or stupidty that is required for the continued holding of this stock.

To: Joseph Lapsansky who wrote (214)	1/11/1998 11:09:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 371

Joe, you have just identified another "floorless" situation. Anyone buying IMMU because of the new lows will have to realize that in a floorless situation the angels providing the money use the public stockholders to get rfunded. Has anyone seen the document itself? Does it have a clause against hedging or selling short the common against the convertible debentures? If such a clause is absent, this stock could find itsel below 1 by the time this ebar is over. This is just my opinion, but I have seen too many floorless in action, examples, CTYS, CHTL, GATE (finally out of this problem), EXSO, AKSEF (also out of the problem), TTRIF, and the list goes on. Zeev