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Biotech / Medical : Lidak Pharm. [LDAKA] -- Ignore unavailable to you. Want to Upgrade?

To: W. Damberg who wrote (992)	3/21/1998 11:29:00 PM
From: luis a. garcia	Respond to of 1115

Right on William I wellcome you to the debate. These are the issues I think will help us make or at least arrive at the proper conclusion. I have posted extensively in Yahoo and it is debilitating to fight each point over and over.. but as you know and coincidentaly today I pulled the vickers report and I noted exactly what you have posted Townle and Samuels bailed out at the high point. Katz did not. As you know I favor dc Yacatan as a logical choice.. I have posted about Olson and Weinress (he is been there 6 months and filed NDA in 4 months) Olson is former CEO of proxima...he is a good man too. But as you know I don't know anything about Towle and Samuels and have not commented on them. Trial results are independent and sealed and I don't know what the history was at that time... However dc Katz should have moved them out long ago if it wasn't they were ENABLING HIM.... so in a way I am not IMPRESSED with dc Katz who has received more increases and takes out him and his family a small fortune out of Lidak every year. I am tired of insider deals and have posted to that effect in Yahoo tonight please review. dc Katz by going over to Healtmed behind our backs on his own private deal eating our rally in 97 and our lunch again... not peer reviewing the lidakol test results....or helping our share price in any way... I am very weary of insiders with large positions... read the San Diego Stock report (just out) excerpt I posted in yahoo... bud leedom notes shareholders are growing tired of standing by while insiders eat our lunch with deals and secondary offerings used to sell either the insiders stock or the stock of mayor shareholders.... I have seen this too many times... the Nasdaq is a corrupt market. Now I know why... I do favor cleaning house at the board but orderly and do not favor a takeover by another set of vested insiders which was conceived out of backdoor deals and they have not bought stock in the market like you or I... I am mad as hell and think the money will come out after they fail to garner sufficient support to take over the company without buying one single share in the market. As a share holder I think our play is to vote in the board and wait for: a) peer review publication... b)start phaseIII for new indication c) Healthmed buying stock in the open market d) FDA approval e) New deal with significant partner this scenario should give us 6-10 by christmass....with almost no downside...present board holds options and they are incentivized more than vested insiders in a twisted way to raise the stock price before they can capitalize on it. Healtmed secondary financing or technology transfering or diluting the stock with back deals will do butckus for us...they have established a 4 dollar share ceiling and that is not worth the risk.... You made other points and please make them again this post is getting lenghty and your other ideas deserve consideration.. thanks again luis

To: W. Damberg who wrote (992)	3/22/1998 5:54:00 PM
From: Henry Volquardsen	Respond to of 1115

Thanks for the post, Your catalog of questions regarding the current board is impressive. Very good research. Up until this point the board has not given any concrete reasons to believe they have the shareholders interest in mind. I am particularly mindful of your pointing out the options exercised and sold on the run up. It is fair to point out that on all the other issues Dr Katz is equally if not more responsible. The one and only issue that Dr Katz gets superior marks on, at this point, is the issue of share ownership (and not selling on the run up). The choice versus HealthMed is not very clear. HealthMed, as of yet, has not made a very clear statement as to why the shareholders should support their slate. The only evidence of any kind at this point are their resumes. They are impressive. However the current directors have more industry specific experience. The HealthMed directors as a group own significantly more shares (2 of the 3) than the current Lidak board (less Dr Katz). I like for management to have significant capital invested in the firm. It has bothered me that the current board has so few shares under direct ownership. Yes they have lots of options but you have already shown how they can use them for a quick flip. This is very thin evidence under which to make a decision. I have been waiting to see either side make a presentation to shareholders as to why we should support them. I would expect HealthMed as the challenger to make the more concerted effort. Their silence this close to the meeting indicates to me the strong possibility that they might consider this irrelevant as they already have the votes. Henry

To: W. Damberg who wrote (992)	3/22/1998 8:36:00 PM
From: Eric Riss	Read Replies (1) \| Respond to of 1115

Many thanks William for a logical, thorough and unemotional analysis. I think however that the evidence is clear that the current board needs to be replaced. I do hope Dr. Katz is not so busy fighting that he has energy left to do research, to publish, and to do everything he possibly can to make sure FDA has correct and complete info to make proper decision on lidakol. To do otherwise would be gross negligence and irresponsibility. I know he has good intentions, has devoted his time as scientist and human being to this company and its products, and to top it all, has invested his money and reputation in the work on lidakol and the other promising products. I therefore remain bullish on the stock and will vote my shares for him and the new board.