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Biotech / Medical : Chromatics Color Sciences International. Inc; CCSI -- Ignore unavailable to you. Want to Upgrade?

To: GemSeeker who wrote (1814)	4/24/1998 5:56:00 PM
From: R. M. Rosenthal	Read Replies (1) \| Respond to of 5736

Friday April 24, 5:34 pm Eastern Time Company Press Release SOURCE: Chromatics Color Sciences International, Inc. Chromatics Color Sciences to Appoint New International Accounting Firm NEW YORK, April 24 /PRNewswire/ -- In another move that indicates its accelerated pace of corporate development, Chromatics Color Sciences International, Inc. (Nasdaq: CCSI - news) announced today that its new Audit Committee is currently finalizing the selection of a new international accounting firm and expects to announce the engagement of the new auditors shortly. Chromatics' decision to retain new auditors was based on a mutual determination by the Company and Wiss & Company LLP, Chromatics' principal accountants since 1992, that Wiss will not stand for re-election at the Company's 1998 annual meeting. Darby Macfarlane, chairperson and chief executive officer of Chromatics said, ''We wish to thank Wiss & Co. for its many years of service to the Company.'' Wiss will assist in the preparation of the March 31, 1998 Form 10-Q for the Company. Wiss has advised the Company in writing that there are no ''disagreements with management'' on accounting principles or practices, financial statement disclosure, or ''reportable events'' and that Wiss will cooperate with the Company's new auditors in affecting a prompt and orderly transition. Chromatics Color Sciences International is engaged in the business of color science and has developed technologies and intellectual properties which the Company believes have medical applications involving the detection and monitoring of certain chromogenic diseases or disorders such as bilirubin infant jaundice. In this regard, the Company has received FDA clearance for commercial marketing of the Company's medical device for detection and monitoring of bilirubin infant jaundice. Other medical applications will most likely require additional clinical trials and FDA clearance. The Company defines chromogenic disease or disorders as those diagnosed or monitored by the coloration of the human skin, tissue or fluid being affected. These technologies and intellectual properties also have other applications, including the scientific color measurement and classification of human skin, certain color-sensitive consumer products, and in determining the color compatibility of such skin and product color classification for use in a variety of industries including the cosmetic, beauty aid and fashion industries. Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business which may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its long range business plan for various applications for its technologies, the impact of competition, the obtaining of further regulatory clearances applicable to proposed new applications of the Company's technology, management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including those set forth in its annual report on Form 10-K for the year ended December 31, 1997. SOURCE: Chromatics Color Sciences International, Inc. More Quotes and News: Chromatics Color Sciences International Inc (Nasdaq:CCSI - news) Related News Categories: health care, medical/pharmaceutical

To: GemSeeker who wrote (1814)	4/24/1998 5:56:00 PM
From: Gurupup	Respond to of 5736

CCSI TO APPOINT NEW INTERNATIONAL ACCOUNTING FIRM on Business Wire at 5:40 pm, full text not available yet. Also I heard that Avalon was around all day calling people and telling them that doctors, and hospitals do not want the product. How do these bastards know anything? Why not go to New Orleans and see for themsleves, but that would mean doing some real work, and they are such whores, that is below their station. I am guessing they are just getting the hint that they are going to get blown out of the water.

To: GemSeeker who wrote (1814)	4/24/1998 8:16:00 PM
From: Ron Harvey	Read Replies (2) \| Respond to of 5736

<<The short interest is so astronomical that it makes me wonder if they know something I don't.>> I understand your concern, but these shorts are unlikely to have any inside information beyond a disbelief in the long-term earnings prospects of the bilirubin testing device. It's the shorter-term implications that really confuse me. If the distribution deal is an especially good one for Chromatics and is publicized to a far wider audience than the stock now commands, then what's the shorts' strategy? They must have some more selling ammunition left for a price rise, but considering how much has already been expended, they seem to have placed themselves in an extremely vulnerable position. The only thing that makes sense to me is that they're counting on a deal that gives CCSI only a small royalty percentage, so small that CCSI longs would be disappointed and potential new buyers would be uninterested. But after putting so many years into developing a product then taking so damned long working on a distribution arrangement, it wouldn't make any sense for Chromatics to come up with something ordinary. Still (and I'm continuing to try to grasp the shorts' outlook), there could be a deal that's better than usual but not extraordinary. Yet publicity could still send the stock price nudging against short-squeeze territory. Maybe the shorts think they'll withstand it and hang in there for what they believe to be longer-term negatives, but weaker hands among the shorts will cave if this thing moves to 19 or 20. Cross your toes; cross your fingers.

To: GemSeeker who wrote (1814)	4/24/1998 10:17:00 PM
From: max	Read Replies (1) \| Respond to of 5736

Why the increase in short interest? Here's an opinion, based on market dynamics, for what its worth: The first question is-What is the reason for the 40% increase in short interest while the stock goes up over 20%? Several assumptions need to be made: A- The prior shorts are largely out of the money. This is probably accurate, because less than 2,000,000 shares have traded hands above current levels. Many of the shorts are in from pre split, at split adjusted prices of $10-12. B- Their only chance to get in the money is to support their position, which can only be accomplished by selling more stock. Unfortunately for them, they could only hold the stock to a 20+% gain while providing support. If you accept the above, the next question is: Why do they believe the stock will come back to them before they get buried? I can only speculate, as follows- A- They believe there will be no announcement prior to the beginning of the conference May 1. B- They also believe, given the above, that panic will set in amongst the longs, and the price will collapse, giving them a chance to get out. Part A may well be true. The company is not committed to finalizing the agreement prior to the meeting. Part B will turn out to be true only if enough longs ignore all the DD done by members of this thread. The Company will be at the conference, showing their product and taking orders, following a prescription laid out by the future partner(s). The partner(s) cannot participate until the deal is signed, but they can certainly provide guidance so the Company is well positioned when the details are all worked out. The key is, if Part A above comes to pass, that we longs do not let further selling pressure panic us into selling our positions. The Deal will happen, it will be large, and it will be soon. Anyone who doubts this, consider: The owners(stockholders)of this Company have spent countless hours researching the prospects, and TALKING TO THE COMPANY. The shorts, on the other hand, have not done any credible research, and they refuse to call the Company. Probably because they know deep down that they're on the wrong side of this trade, and don't want to accept the fact. A classic case of human psychology applied to market dynamics. The overwhelming evidence is that CCSI has an FDA approved product that has dramatic demand, and is well positioned to protect their technology. They have repeatedly said, as recently as two days ago, that the Deal will be 50-50 with the partner, and there is nothing to date in the negotiations to suggest otherwise. The shorts are grasping at straws, and if their pockets are deep enough, they will continue to support their positions until we make new highs. But they won't sleep well, and they WILL get buried. All the above is just the simple opinion of one person. Take it for what its worth.