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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (1054)	2/25/1998 2:05:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 2742

from the SC 13D..... During the month of December, 1997, Warner-Lambert sold an aggregate of 4,126,365 shares of the Common Stock of the Issuer on the open market or in private sales in the following transactions: (i) 164,865 shares on December 8, 1997 on the open market at a price of $0.2029 cents per share; (ii) 15,000 shares on December 9, 1997 on the open market at a price of $0.20 cents per share; and (iii) 3,946,500 shares on December 12, 1997 in a private sale to the Issuer at $0.10 cents per share, which sale closed on December 31, 1997. ************ So, the deal did close, and I was just simply missing the word "weighted" with respect to the shares outstanding. Sorry. Nonetheless, my opinion still stands...... Galton et al. are going out of their way to make this company appear to be unattractive. Furthermore, I'm still interested in the (apparent) piece of good news, the marked decrease in fully diluted shares out (weighted, 26,903,167 versus 29,045,151). Again, Hal Smith promised to get back to me on this, and I'll also go cruise the 10-Q again.

To: scaram(o)uche who wrote (1054)	2/26/1998 6:54:00 AM
From: Zvi Yammer	Read Replies (1) \| Respond to of 2742

Rick. The 26 million vs. 22 mil is simple. 22 mil. is actual as of the close of the Med-Tec buy back. 26 mil on 12/31 is "weighted" avg. A WA eans you take the SUM of the NUmber of share soutstanding each Day and divide that by the number of days.. So for the 92 days (Oct 31,nov 30,dec 31) CIST had 91 days with 26 mil and 1 day with 22 mil. (2691 + 221)/92 is much closer to 26 than 22. SO I do not think that CIST is doing anything. However, I do agree that they failed to mention the 4mil buy back and as well while they mentioned the cancellation of the perio trial they also failed to provide any offsetting updates on the other trials underway. And what about the possible extension of the BlueStone Contract?? They have 400,000 shares at a .25 so if they're out there's gonna be some overhang at that price.