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Microcap & Penny Stocks : Pharmos(PARS) -- Ignore unavailable to you. Want to Upgrade?

To: David Israel-Rosen who wrote (716)	5/6/1998 10:35:00 AM
From: arnie h	Read Replies (2) \| Respond to of 1491

Not so fast David: Here's what management had to say in the Annual Report- "The Company had working capital of $1.9 million, including cash and cash equivalents of $4.4 million, as of December 31, 1997. On February 4, 1998, the Company completed a private placement of convertible preferred stock and warrants that generated $ 5 million in gross proceeds. Management believes that existing cash and cash equivalents combined with anticipated cash inflows from investment income, R&D grants and proceeds from sales of the drug substance for Lotemax and Alrex to Bausch & Lomb will be sufficient to support operations through the first quarter of 1999. The Company is continuing to actively pursue various funding options,including additional equity offerings,strategic corporate alliances, business combinations and the establishment of product related research and development limited partnerships,to obtain the additional financing that would be required to continue the development of its products and bring them to commercial markets." As I read this, we'll be out of money again in the 1Q of '99. And at that point, hopefully, we'll have HU211 and the Tamoxifen developments in gear and will need lots of "green". If history tells us anything, it's that we'll be involved with some more complex deals where groups have the ability to keep hammering at us in ways that do not benefit patient shareholders. I sure wish management can find ways to attract investors that aren't in it for this mornings profits. Maybe the new CFO can make a difference. I sure hope so. Have a good week, Arnie