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

To: Patrick Serafino who wrote (1541)	3/14/1998 5:54:00 PM
From: Sigmund	Respond to of 1894

Prior to the redefinition of the bonds into equity, book value after the fourth quarter was close to zero I imagine. So we certainly don't want to trade at book value. The previous low was 5/8 so I don't see a new low much below 1/2 in the near future. ACMIC has invested a lot of money in product development and product acquisition. The question is how valuable these products might be to any one single company? Can another company properly exploit this conglomeration of at this point unprofitable products? I doubt that anyone would outright buy this company at this point? The variety of products I think makes it more difficult for some other company to gain value from the product line. These are products that are in the early stages of market penetration so it isn't like buying a mature product line. As far as knowing what is happening, I imagine that all of the competitors know what is happening including the identity of the investment banker who has probably already contacted them. All of the customers know too (informed gleefully by the competition) as do the employees. But we are only the minority owners of the company, so we don't get to know until the Company and the principal investors are good and ready to tell us. The best we can hope for this week is that some company purchases a minority interest in ACMIC. Selling the microbiology products would be mildly positive news for 48 hours until investors realized that this probably means ongoing loses for the next two years. It would clear the decks however for a subsequent buyout. The worst that can happen this week is an announcement that ACMIC has requested that NASDAQ extend the deadline. Do you feel lucky this week?