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Biotech / Medical : Lidak Pharm. [LDAKA] -- Ignore unavailable to you. Want to Upgrade?

To: henry jakala who wrote (852)	1/16/1998 11:15:00 PM
From: donald barton	Read Replies (3) \| Respond to of 1115

Fellow shareholder, As a stockholder, I am very concerned about Healthmed's bid to take over the company. It may be an attempt to control the company for very little money down and then control the flow of revenues that are realized. These are my concerns: Did Dr. Katz get a golden parachute by being overpaid for this portion of the shares that he sold to Healthmed( his 30%), and leaving the rest in trust realizing that this stock will not appreciate? I don't know. Healtmed says it will not dilute the position of existing shareholders? They don't need to. If they gain control, this new group will be in the position to siphon off the vast majority of the license fees off the top for lidakol as management fees due them, with little return to shareholders. The Board of Trustees(fiduciary responsibility) and shareholders need to exercise due diligence to insure that this unique arrangement that Katz negotiated is ethical and fair. Who has been consulted in management? Have other drug companies shown interest? Where did this deal without details come from? Was all of the Board informed and involved in the decision? It obviously had been cooking for some time! We need new drug partners, more information, not venture capitalists. This is Dr. Katz's most important opportunity to provide full expanation and disclosure.