Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotime-Nasdaq's best kept secret? -- Ignore unavailable to you. Want to Upgrade?

To: Jim Roof who wrote (874)	4/29/1998 5:36:00 PM
From: Todd D. Wiener	Read Replies (3) \| Respond to of 1432

Interesting how Asensio refers to BioTime as "(OTC-Bulletin Board: BTIM)," especially when the stock began trading on the National Market today. This statement should raise a red flag to all readers who believe Asensio. His mention of BTIM as an OTC:BB stock serves only to make it seem more scandal-ridden. He also mentions that management has purposefully made false statements in order to defraud investors. Why would they purposefully defraud investors when they have gained nothing by these actions? He mentions that the stock price was elevated due to false claims about market size potential, but obviously doesn't mention that the main insiders haven't sold shares yet (in spite of the vast majority of insider holdings being actual shares, rather than options. I don't remember what some of the recent exercise prices were, but it's possible that Segall and gang are sitting on some paper losses right now). In most stock frauds I've seen (a lot), the insiders run-up the stock on false statements and sell shares, only to leave other shareholders out in the cold. In BioTime's case, I fail to see how the management team has benefitted from the stock's rise. On the contrary, it would have been in their interest to have it stay low, so they could receive more stock options than they have received (and subsequently exercised at higher prices than today's price). It should be quite obvious that Asensio's agenda is to ride the stock lower, and it's not to be a nice guy who informs BTIM shareholders of their worthless company. I wouldn't be surprised if he covered his short position at the open today (at $8.5). I am long BTIM, and I see it for what it is: A very risky and speculative investment. It might go to $2 if Asensio is correct, or it might go to $200 if Crossen is correct. I suspect it will be somewhere in the middle (I'm looking for $40 by year-end 1999). I may be too optimistic, but I didn't make this investment as a sure thing (massive understatement). I don't believe the fraud story. It's more likely that the management believes in Hextend, but they may have overestimated the market potential. If BTIM never trades above $20 again, it will probably be due to Hextend's limited acceptance, rather than due to fraud or false statements. Still long. Todd