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Microcap & Penny Stocks : Universal Medical Sytems (UMSI) -- Ignore unavailable to you. Want to Upgrade?

To: John Allen who wrote (1088)	1/30/1998 7:21:00 PM
From: JPS	Respond to of 1672

B I N G O They are supposed to have received $3+ million from Select last May, plus $8M in financing from Sands, plus $650K from Lichtenstein, plus another $5 M from Select according to their press releases-smoke -mirrors or B.S. Did Baker ever get back from the Airport?

To: John Allen who wrote (1088)	1/30/1998 7:33:00 PM
From: Laurens	Respond to of 1672

They did not get the 5 million the second time they went to Select. The deal that was then cooked between UMSI management and Select was also not advantageous for UMSI, and I understand they got much less than half a mil. BTW: Select is a "suspect" group when looking at their records as Select and other name(s). You must be desperate to go for a deal with them. And extremely desperate to go there twice. CEO Baker was grieving about this deal when Gene from this NG spoke to him last year(see Gene's posts december 87). Are you a stockholder too? If so,my sympathy.

To: John Allen who wrote (1088)	1/31/1998 5:20:00 AM
From: Sylvain C.	Read Replies (1) \| Respond to of 1672

John, they received only $400K of that financing. I understand that they also issued convertible debentures...

To: John Allen who wrote (1088)	2/10/1998 2:09:00 AM
From: Laurens	Read Replies (1) \| Respond to of 1672

John,further to your post l088, I assume that since there is little or no income from current business,any actual cash that comes their way would not last very long: they too got to keep their homefires burning. The Boyz cannot even afford a Statement of Affairs to their stockholders. By the way,UMSI does not have any patents of the devices they own.I thought that at least they were sitting on patents re that potential scanner,but no dice. I also understand that reportedly the only inventory they carry (apart from the trade show in their ex-offices) are scanner parts dating from way back.Like l979.... The office in Clearwater is still closed. Re Skaar's query: nothing came from any of the ventures in France. And to HG: Welcome back.Sorry about your mom.