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Biotech / Medical : Harvard Scientific (HVSF)Hot$$- male impotency medicine -- Ignore unavailable to you. Want to Upgrade?

To: StockDoc who wrote (3468)	5/3/1998 3:49:00 AM
From: Afaq Sarwar	Read Replies (1) \| Respond to of 3906

StockDoc, Welcome to HVSF thread! Before you take any position in HVSF, I would strongly suggest that you should scan through all the posts on this thread and read those that have useful information. You will find that there are not too many of those. This company has a very interesting history that will continue to have an impact on its future. The posts on this thread will give you that history. Additionally you should read the SEC filings by the company during the last 18 or so months. These two sources of information will give you essentially every thing you want to know about this company. The following are the two web sites for this company. Both have essentially the same information. The website will link you to the SEC filings as well. harvardscientific.com virtualir.com I am long this stock. Not long in the traditional sense where you really believe in the company, the management, the product, basically the whole thing. For me, it is an investment mistake. Based on hype, I bought the stock at very high price, and then continued to averaged down. Along the way I started doing DD. What I found was this: The company has a good product. The product has some patent protection. If this product was available in the market right now, it would IMO be considered better than the product by VVUS. That is the good part. The bad part is that every one involved with this company has either been incompetent, or crook, in most cases both. For example, during last approximately one year, the number of shares outstanding has increased from 10 mil. to over 52 million ( from 1 mil to 5.2 mil after the reverse 1 to 10 split). Interestingly, all this increase has not added any material value to the company. The company completed its Phase I trials more than a year ago, but FDA has yet to accept those trials. Without that they cannot start Phase II. During last few month alone, more than 30 million (pre split) shares have been issued for essentially no material results. Another indicator of the things that is quite representative of this company is that I have not seen another company that has been involved in more litigation. However, they have until now not once won a case. With all this good stuff you may ask why I am "long". Well, for several reasons. 1. My average price is too high, and if I sell now I will not get much. 2. Relatively speaking, I like the new management. They have done a great job in cleaning most of the mess created by the prior managements (sounds funny when I use the word :management" when talking about these characters). There is no question that they have given themselves tons of shares for this work. I seems that before too long all 10 mil. (post reverse-split) authorized shares will be issued, most going to Tom Waite and Dr. See. However, this also means that they have an interest to get the price of the stock high to make all these shares useful. 3. They have a good product. If some how they can get it to market A long shot), it should get a reasonable portion of the market left over from Viagra and Invicorp. HVSF should be able to get a better share of the market then VVUS. 4. HVSF has fortunately associated itself with few good and highly reputable scientists with them. These include Dr. Goldstien, and Dr. Larry Hoffman. Their association will give credibility to their product. 5. Finally, for all the loss that I have suffered, I want to stay invested so that I can learn as much as possible about how not to invest. I apologize for this very long post. I hope that this will give you enough information to begin your DD. Regards. Afaq Sarwar