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Gold/Mining/Energy : Inflazyme Pharmaceuticals (T.IZP) -- Ignore unavailable to you. Want to Upgrade?

To: Harold Lehman who wrote (953)	5/28/1998 9:24:00 PM
From: Harold Lehman	Read Replies (3) \| Respond to of 1501

Guess what, Michael Liggett called me back today. I wonder if my little rant on this thread had anything to do with it. What I had asked him about 4-5 weeks ago was whether the tb test kits had come in, and he had said that he would check on it and get back to me. He said that he still didn't know the status of the test kits. I said that this was terrible considering that they were supposed to have arrived last year, then January, then March. The question was whether there were any problems or even whether Cortecs had dropped the project. Liggett vehemently denied either, or at least any kind of knowledge of such. He said that as far as he knows that things are still okay regarding the tb tests. He also stated that the toxicology testing on Apanol was still on schedule, and in response to a question, that there have been no adverse effects seen. In response to further interrogation he agreed that it should still be ready for phase I testing by the end of November. I also asked him about the new CEO, Ian McBeath, as to whether he's in the swing of things. Liggett said that he hit the ground running, which is a lot better than rolling (after comma not attributable to CFO aren't you glad). He's still digesting numbers and still in the process of moving, but knows the important stuff. I then asked about joint venture negociations and was told "Negociations, we don't need no stinkin negociations!" Just kidding. I asked whether there were any standing offers by big pharmas for Apanol JVs. Of course he said he couldn't comment on it but then offered the analogy of two drivers racing along, with one of them waiting for the other to pull alongside. I made inquiries about Inflazyme's cash position and was referred to the one at the end of December. From that time onward there was about 14 months cash at the ongoing burn rate. However, Liggett said that he didn't know the exact numbers now and he wasn't too worried about it. I said that with cash running out about Feburary it worried me a lot. He said that he wasn't too concerned with it, which echos a conversation I had with Walter Lovenberg, Chairman of the Board of Directors, about 2 months ago. Mr. Liggett also said that there was no intention to dilute the stock with an equity offering, esp. at these "ridiculously undervalued" prices. So is it complacency, or is there an ace up their sleeve?