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Microcap & Penny Stocks : Saliva Diagnostics (SALV) -- Ignore unavailable to you. Want to Upgrade?

To: Harold who wrote (2101)	2/17/1998 4:52:00 PM
From: Bruce Rozenblit	Read Replies (4) \| Respond to of 3369

I TALKED TO THE CEO! I HAVE THE ANSWERS! My fax got to him. Ken McGlauphlin called me. Here is the scoop. He took over the company at the beginning of 1997. It was a total mess. The old CEO had written himself a no cut 5 year contract for 250K per year. The head of the Singapore plant had written himself a no cut 3 year deal for 250K. He fired these guys and that is where the legal fees came from. The BOD lawyers law firm was payed about 500k to fight this. These guys were milking the company. The company was a wreck when he took over. It had consumed 22 million dollars of capitol that all came from share holders. He said they didn't even have proper documentation for the process. He has fired half the employees, they are down to 18. Basically, he said that he had to start from scratch. The 22 million was gone, bled down. The linen was very dirty indeed. The only way he has been able to keep the doors open is with these private placements and certainly would rather not use them but has had no other choice. He has not been paid anything in cash but at the end of last year received stock options that he has not exercised. He would definitely sell the company for a good price but so far no has bid. No buyers. People treat AIDS like if you don't see it, its not there. No one wants to know. He agrees with me that the big market is in professional sales, not over the counter. The problem here is that the current medical establishment doesn't want to treat you if you are positive. They don't want to pay for it. The pills cost $1300/month. Rather, you just got very sick very fast and died. My words not his. He has greater hopes in the near future for the H. Pylori test for generating revenue than the HIV test because of no stigma and easy treatment. He has 500,000 shares (I don't know what he paid for them) and doesn't want to lose that either. The clock has been reset. The bad guys took the money and split. Now the marketplace is afraid of the stock. My words. He says not to expect break even finances until the latter half of the year. I read that as 1999. I think we lost 2 years of progress on our investment. I told him he had a terrible public relations image and one cheap way to fix that is post an honest an open letter on his web page to the shareholders about what is really going on. He agreed and will do so. The Europeans don't know how to use this internet thing yet. So hold off on the flood of faxes and emails. We got through! I am going to hang on.