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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Rylan who wrote (3681)	2/26/1998 11:00:00 PM
From: CMason	Read Replies (1) \| Respond to of 18691

Figure the value of cash per share. There are examples of biotechs that have traded for less than cash, but in general I'd get out at price=cash. Cmason

To: Rylan who wrote (3681)	2/27/1998 4:34:00 AM
From: Bill Wexler	Read Replies (1) \| Respond to of 18691

<<Fundamentally speaking, what is a fair share price for ZONA? >> In a perfect world.....zero (I mean that quite seriously. This company has a corrupt management team and absolutely no viable products). In the real world we must consider that the company is still sitting on the cash that was stolen in the stock offerings. Therefore this company is now worth exactly the cash in the bank. After accounting for (my approximation) this quarters burn, I figure 4 to 5 a share.