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

To: Dave Belz who wrote (1196)	1/31/1998 12:33:00 AM
From: Alys Hall	Respond to of 3702

Not only can I relate, but you've just given me the terminology I was looking for in order to explain to my husband, children et al what happened to our net worth. Destitution is hard to face...however, I have the funds I was saving for my face lift so that I could go to the next shareholders meeting without looking like everyone's Mom and I may use that for a double my position.So if I look like a hag in October, if there is an annual meeting this October, it will be because Management and I don't mean our current mis-management team, has let us all down. Betting a dollar on the come...as they say in the great casino in the sky, is what I'm going to do! I have to agree that the Board minus Stone, Shepard and Moding still have some credibility and financial resources left. I cannot believe they will allow this Company to disintegrate. When you read what Shero just posted and think about it rationally for a few minutes..it is quite interesting. A normal Reg D will bring out the animal in all investors..they have an interest to be well rewarded for driving (manipulating) the price to the lowest point possible to be able to convert and make money on both the long and short side. However, ultimately, their best reward would come, if, once long, the stock recovers and goes on to make new highs. This group put up $12 million dollars and was led to believe the money would get the Company through Phase III. Here it is 10 months later and they are out of money and phase I and Phase III have not yet begun. Stone sends his lackeys to argue for the reasonableness of using badly needed funds to furnish a facility that is overbuilt and unnecessary to begin with. I'd be insane if I'd put up the money. Of course, I lack the savvy to manipulate the stock to this point, but my guess is that this group will cover and go long once Stone is out of the way.After all, think about it, could they have sold this thing off to this point, if we were well along into pediatric glioma trials and phase III- LymI? Well we are nowhere near where we should be, but we sure burned enough money in the last 10 months to be there. Certainly any of the Board other than the group of mismanagement..would be a welcome interim management replacement. No one could do any worse than what we have witnessed over the last year...If it weren't that Legere and Santoro were involved, I wouldn't be any longer. I hope that my faith isn't misplaced. So ..here's to your faith and stubborn streak. I'm right there with you..we don't have much to lose at this point..do we?

To: Dave Belz who wrote (1196)	1/31/1998 12:56:00 PM
From: shero	Read Replies (1) \| Respond to of 3702

Your post is very good, but I don't agree that the shorting is illegal. Please help educate me and explain what is illegal about it. While I await your explaination I'll try one of my own. Tell me what you think of it. The S-3 investors own a convertable stock. For every share they sell at the offer--which is what is happening here--they convert at a 20% discount. Why convert and then try to sell, incurring a market risk when you can sell, then convert and lock in the profit. And remember if they sell at $1 and the stock goes down to $.75 then they get a discount from $.75, increasing their profit. OK, so we know who is selling and how. Anyone who watches the tape sees most of the trades at the offer, with the S-3ers filling the buys. Yesterday in the last 1/2 hr about 200,000 shares traded. Like everyday this week heavy volume at the end, and the volume is on the buy side, or the stock would be lower. I don't think anyone here doubts that if 200,000 shares "hit the bid" the price would be $.25. So the $64,000 ? is who is buying? Bonfiglio has been on the road talking up the technology trying to find a cross license "partner", so this technology is not a secret. We may wake up one morning to find one or more pharma companies bought a big piece of this company cheap. (I won't complain) 13-D's are not filed until one has accumlated 4.9% of the company's stock, or for sake of arguement 1.75MM shares. While TCLN talks about $10MM for a cross license deal for less than 20% of that you can get a big slice of the whole pie. I'm glad someone else talks to DV. I haven't spoken to him in some time, and if TCLN hadn't used his name as a contact person on its press releases I wouldn't have know him at all. But he always seemed to be a good business person. If TCLN had listened to him MGMT would have kept its money in the bank and contracted out its manufacturing. They wold still have $10,000,000 cash, less employees, etc. Every biotech company that spent money on facilities before they were needed got burned. This has happened to Lon before with ACY. Its too bad that not only can't he learn from the mistakes of others but he desn't learn from his own. Now we have a facility with nothing to manufacture for at leat a year and no money. The facility they had before spending all this money was just fine for manufacturing the quantities needed for clinical trials. After the drugs get approved when people are throwing money at you is the time to build a manufacturing plant. I like your optimism, and the optimism on the Yahoo line. Everyone here should read it. Its fun to read the analogies of war that are posted there. Davis posts over on Yahoo!!, he is still looking for me, and like here he is subtle as a brick. It seems like here the readers realize he talks out of both sides of his mouth. Still I love him for his enthusiasm. Just a note Davis. No one on Yahoo knows me, unless they read this thread and then they know who I am because I posted it. I'm still waiting for your bonifides. This stock is going to stay here until one of several things happen. 1) The selling by the public-not the S-3's-take the stock lower. Unlikely. 2) All the S-3 stock is bought--unlikely. Do the math, $12,000,000 converted into stock at $.80. Thats alot of stock. 3) After the cap is set if the Board has addressed the mgmt problems the S-3's may decide to hold on for the ride. Then they can take the stock to $5 or 6 and make many dollars on their investment instead of a measley 20%. I won't complain. Like you Dave, I've bought stock here. In fact I've bought stock at $1 every time I had the opportunity and never lost money. We have maybe a couple of tough months. Maybe less. For someone who has owned this stock for over 15 years that's just like a good nights sleep. Well, maybe not good. Have a nice weekend, everyone.

To: Dave Belz who wrote (1196)	1/31/1998 1:20:00 PM
From: EZLibra	Respond to of 3702

3,383,000 shares traded since January 15, only ten business days ago. Herzog & company constantly on the offer. Overwhelming buy side activity. 20% move from 1.25 to 1.00 sent red flags up which automatically tripped STOCKWATCH, as all 20% moves do. NASD is watching and can pull any and all daily trading records from the mm's. In addition Guilford Securities came on as mm and is lockstep with HRZG. Big RED FLAG to authorities - Guilford notorious Chicago short seller watched by NASD/SEC/IRS. Back to the volume, I guestimate short interest about 1 1/2 - 2 million now. Most members of S-3 are prohibited by charter from short-selling. Quality names like Kane Anderson, Ist Boston and Susquehanna are involved. Suppose there is only one member selling short? More to come.

To: Dave Belz who wrote (1196)	1/31/1998 1:47:00 PM
From: EZLibra	Read Replies (3) \| Respond to of 3702

I had a dream. S-3 member we'll call Chicago Joe calls Bix and says convert 2,000,000 shares today. Bix pulls out the trading records that the NASD has given him and says, "Why Chicago Joe I see you have already sold 2,000,000 shares in the last 30 days. Let's see, a total of five million shares traded the last 30 days and you have a daily maximum limit of 50,000 against a ceiling of 10% of a day's volume or 10% of a five day average volume. It seems to me that the maximum amount you could have legally sold is closer to 1,051,498 shares. Now don't deny it Chicago Joe because these records that I got from HRZG before NASD closed them down for market manipulation all lead back to you and your fund. I am told that you have violated the maximum sell limit of the S-3, a legal document. I am advised by counsel that because you have violated your fiduciary duty I in turn would be violating mine by giving you all of those shares. I don't want to be sued by the other 9,999 shareholders so let's just work something out. How about we convert the maximum 50,000 shares a day? No, that's not fair either. After your lawyers finish with the NASD why don't you just have them talk to our lawyers. Now excuse me, Chicago Joe, but I've got to get this news release out. What release? Oh, the one about TCLN curing solid tumor cancer in China, nonHodgkins lymphoma in New Zealand, and brain cancer in Atlanta and LA. Then I've got to get to the bank and convert these Swiss francs into dollars. Don't worry, I'll get back to you, I always return phone calls." Like I said, I had a dream. More to come.

To: Dave Belz who wrote (1196)	1/31/1998 2:17:00 PM
From: EZLibra	Read Replies (1) \| Respond to of 3702

I ask myself why on earth someone would want to short the hell out of this stock. The only sensible answer, to me, is to gain control and that means someone within the S-3 is working the short. I certainly don't think what is being done is legal but I don't claim to be a lawyer, like Shero does (proof of that would be his first bonafied claim). Whatever, we are being given a buying opportunity. The market cap, considering conversions to cover the shorts, is probably about 31,000,000 X $1.00. As I said a few weeks ago Techniclone's portfolio of products can actually be broken down into five different companies; 1) NonHodgkins lymphoma 2) Solid tumors 3)Anti-angiogenesis 4) Enabling technology and 5) Diagnostics. This is highly subjective and anyone can fill in the blanks but here goes; Category #1 is Idec and Coulter and gives an average market cap of $500 million. #2 includes Ligand, Medarex, Onyx, Imclone, and Matrix - call it an average of 170 million or just use Centocor at 2.8 billion. For door #3 use Entremed, Sugen and Imclone for 170 million or use British Biotech at X gazillion. #4 has Protein Design Labs, Liposome, Sequus and Nextran for an average 400 million. And finally #5 includes Neorex, Immunomedics and Neoprobe for about 155,000,000. Add the averages and it comes to 1,385,000,000. That's one billion three hundred and eighty-five million or 44 2/3 times TCLN's current market cap. And that is why I think someone is trying to gain control. I hope they are forced to convert every share they have.