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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (1102)	6/16/1998 3:02:00 PM
From: Jim Roof	Read Replies (1) \| Respond to of 4634

Barbara, Regardless of Mr. Asensio's accuracy on Crystallex he has not been accurate or forthcoming on Biotime. His claims of fraud hinge specifically on one statement that the company made in 1994 in which the term 'blood substitute' was used more loosely than it could or should be today (because today we actually have firms working on true blood substitutes whereas in 1994 there were none and the technology for such a product did not exist). Mr. Asensio also continues to refer to BTIM as OTC/Bulletin Board despite this firm being listed on the NASDAQ National Market. I have personally asked Asensio for information to substantiate his broad claims and none has been provided. If you will read everything that he says about Biotime and try to boil it down to the barest essence of factual content you will find that his entire argumentation evaporates. He can point to no specific data but rather speaks in terms such as 'worthless', 'no intrinsic value' etc. If he could go on to make some explanation as to why these things are then he might gain some of my respect. I am highly suspect as to why he cannot or will not elaborate. I would actually have no problem with Asensio doing what he does as long as he did not release 'press releases' which slam companies in which he has a large short interest while at the same time concealing the fact that he has such a position. This practice should be illegal. I think the SEC and the NASDAQ should require disclosure of one's position when such statements are released en masse to the general public. I would have no problem with him or any other short seller if they have the integrity to reveal to their readership their vested interest in price moves. Until such time I consider Asensio a highly effective and professional trader who seems to have no problem with lying for personal gain. As for the bottom line - I place a higher value on integrity than most. In fact, I think no price can be placed on it. Given that, I am a richer man than Mr. Asensio. Jim