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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: pappy who wrote (631)	4/7/1998 10:35:00 AM
From: EmuGreg	Read Replies (1) \| Respond to of 4140

Pappy, we are two people that enjoy doing our due diligence. That is why I have enjoyed posting with you so much. Reading the 10-K of a Development Stage Medical Technology Co. certainly will wake you up and get you going in the morning (kind of like Louisiana coffee). But that's true of virtually every Development Stage Medical company, isn't it? Novatec is a Development Stage Medical Co.,correct? Can you describe what Novatec's balance sheet looks like for us? Have you seen it? Very little of the real story of a Development Stage Co. is told in the financial statements. For a Medical Technology Co. the story is really told in the Drs' offices. Are the Drs. excited about the technology? Will they implement it? How do patients (and potential patients) respond to it? That's what's exciting about SNRS. The other story is how well the Co. works with the FDA. Getting approval to treat the fellow eye on the same day is a strong indicator that things are going very well on this front since no other co. has been granted permission to do this. In doing my DD, I also considered the background of the mgmt. team. Many of them came from Allergan. One Saturday, I counted up how many PMA's granted by the FDA went to Allergan (what can I say, life is REALLY boring on a farm). It was incredible what portion of all PMA's go to that company. I heard a comment from someone unrelated to SNRS that Allergan typically gets FDA approval in half the time that any other company can. I also flew to a Red Chipper conference and spent an afternoon asking the CEO a number of questions as to the business plan. It is a good one that will not make the same mistakes that a certain two other laser cos. have made. So, we have a great team in place that are making it happen. For a company at this stage it really boils down to people issues and there are a number of sterling people involved with SNRS. Those facts don't show up in the financial statements. In doing your DD on Novatec, have you had a chance to check out those kinds of issues, yet?? Its been great discussing these issues with you. May you prosper wherever your travels take you. Greg