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Biotech / Medical : ACMI - Accumed Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Cisco who wrote (1512)	3/8/1998 9:02:00 PM
From: Sigmund	Read Replies (1) \| Respond to of 1894

Thanks I can use that charting tool for other purposes. Yes it is a sad sight indeed. Of course NeoPath has gained a recommendation for approval re primary screening, Cytyc has made progress in closing the gap between revenues and expenses and Autocyte has filed amendments to their PMA and appear on the verge of getting approval to compete with Cytyc. So it isn't just that Accumed has had its problems. I think this week will be key. If Accumed waits until next week, there may be more damage to the stock price towards the end of this week. It would indicate that they are having problems. If they get all of their ducks in a row this week, then the next 100 days may be a very different story from the last. I am amazed by the low volume in this stock. Clearly no one wants to move either way until the picture is clearer. Personally I would have preferred that they not convert the bonds to preferred stock and not sell of their revenues. Converting the bonds converts a debt that I assume could have been refinanced advantageously in the relatively near term into a perpetual dividend. But I am not clear on the terms of either the bond or the preferred so I could be very wrong on this. Selling the sales means that this is now much closer to a development stage company in a market that doesn't like development stage companies. Do you have a good feel for how long it will take them to get to breakeven now? It is I think the key question now. I assume that this will be a question raised at the conference call. That should be one interesting conference call!!! As an aside, I think the delay in getting final approval for NeoPath is not beneficial to Accumed or anyone else. If they had gotten approval in late Feb or early March, it might have been clear when this quarter's earnings were released that no one wanted the system. This way it won't be clear until next quarter (early August) at the earliest. And that quarter may not be decisive in that SKB may convert to primary screening as a sign of support for NeoPath even if it costs them money. In that case, NeoPath may not be unmasked before Nov. Once NeoPath is unmasked, it will be easier to sell alternative approaches. Also NeoPath may come to Accumed for assistance. There has been no mention of Mr G lately. Any possibility that he might go with the part of the business they are selling? That would be beneficial as it probably would eliminate a lot of nagging potential problems associated with his rapid leaving of the scene. Everyone would sign a document stating that they were friends. I wonder how they are placing a value on the products they are selling. This is a second instance (Sakura was the first) where ACMIC should be using an investment banker to place a value on these assets to protect the company against shareholder unhappiness. But getting outside help doesn't seem to be part of their corporate culture. This valuation might be creating delay. Even if ACMIC feels they don't need a valuation the buyer will most likely want one lest their shareholders be offended. And if the valuation comes in too high or too low that can create additional problems. Valuing technology is no piece of cake either. I hope that by March 23 I will be able to log on to Yahoo Finance and see that all of my friends on this thread are congratulating themselves on their shrewd investment. That would be very rewarding.