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

To: John Zwiener who wrote (1019)	4/18/1998 8:59:00 AM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 1115

John, The Lidak soap opera continues. The article makes interesting reading. This may be a serious allegation on HealthMed or an indication that Dr Katz has lost it. IMHO there are two possible explanations of this law suit: 1) it is true. Stein is a con man who snookered Katz into this arrangement and has no assets with which to engineer either a loan or a purchase of Lidak. 2) it is false. By the terms of his original agreement with HealthMed Dr Katz has no vote and no chance to have a vote for 10 years. The voting trust, which he agreed to, requires that any shares he purchases must be committed to the voting trust. Dr Katz has stated he wishes to regain control of Lidak. To do so he must have the ability to vote his own shares. The only way he can do that is to break the voting trust. The only way to break the voting trust is through HealthMed's agreement or legal action. It is my strong suspicion that this is a legal maneuver by Dr Katz to break the voting trust. Such a maneuver is not unexpected, I have stated earlier elsewhere that he would need to break the trust. Whatever Mr Stein's personal situation is he is not HealthMed by himself, we know of at least two other members of the HealthMed group who have already purchased a significant amount of Lidak stock with their own money. There are still many open questions about both HealthMed and the Lidak board so it is hard to raise a rousing defense of HealthMed in this case. But I believe Dr Katz has pretty much cleared up the issue about his own qualifications to run a company. If the allegations in his lawsuit are true he is to naive to run a company. If the allegations are not true then he is being deceptive and manipulative (in other words lying). In either case he doesn't belong in charge of Lidak. Henry