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Biotech / Medical : PLSIA (Premier Laser Systems) -- Ignore unavailable to you. Want to Upgrade?

To: leisuresports who wrote (1577)	5/9/1998 2:05:00 AM
From: Pluvia	Read Replies (1) \| Respond to of 1773

<<<My total losses are only about $1500, so it's not going to make much difference either way but I would like to do the right thing.>>> sr, and John, While you weigh your decision to join/avoid these lawsuits, I think one other issue needs to be considered if you still own this stock. PLSIA has IMO some SIGNIFICANT liability in these lawsuits. They did IMO spread fraudulent news releases beginning clear back last year, and IMO the reason was so they could pump up the stock price to exercise the warrants. Also, IMO, regarding the lasers that went to Schein -- according to GAAP and the company's stated revenue rec. policy, clearly these lasers were not sold. Schein is a distributor, not a customer. This is not a grey area -- it is black and white, and as a result, IMO, PLSIA cooked the books by including laser shipped to Schein as sales. Defense alone will cost a good chunk of change. If they settle or lose, this company could easily go BK and never ever recover. That tells me anyone who is a holder of this stock should sell immediately and find safer waters for their capital. Holding this stock now IMO carrys too many risks. Which brings me to my rather long winded point.... Regardless of whether you join the suit, the suits will go forward, and the facts as I see them indicate the suits have significant merit. Thus perhaps the most important decision for you now should not be whether to join the suit, but whether you should still hold this stock or sell it. You gotta figure everyone else will comes to this conclusion sooner or later, and I think I would want to be out of this stock before that happens. Best of Luck Steve