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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (830)	4/19/1998 3:25:00 PM
From: pappy	Read Replies (1) \| Respond to of 1386

Beam used to own a laser vision correction center (Refractive Centers International, Inc.). However, because this ownership was in direct competition to the ophthalmologists Summit was selling or leasing machines too, they decided it was in everyone 's interest to quit running it and treat it as a discontinued operation for accounting purposes. In mid-1997, they were able to locate a buyer (LCAV) who purchased the company in exchange for 17+ million shares of LCAV. Summit then decided to disperse approximately 9 million shares of LCAV to its stockholders. Every Summit stockholder received 1 share of LCAV for every 3 shares of BEAM they held. The remaining shares were treated as restricted shares to be held by Summit (8+ million shares). Summit is not allowed to sell these shares until 5/17/98 which IMO they wont do (they'll sell them, but I believe little by little into a climbing LCAV market). To answer your question: No, you do not get a share of BEAM or LCAV if you buy either company (that time has past-December 29, 1997). Today, the relationship between BEAM and LCAV is strictly business (BEAM selling/leasing machines to LCAV, if interested). However, if you want to own both (I believe you cant go wrong, if you own BEAM-its day is coming, just like it came for VISX, except it's a lot cheaper with more upside potential since its priced so low)...Pappy