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Biotech / Medical : Insite Vision Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Joe Senesac who wrote (795)	7/17/1998 9:58:00 PM
From: Robert Mayo	Read Replies (2) \| Respond to of 1060

". . . I would anticipate from my last look at financials that more dilution will be imminent should a partner not be found soon." Joe, I doubt it. The Board told him he couldn't raise more cash. He has to get the deals done or find some other way to unlock the value in this company. I felt the company should have merged with a bigger partner last year. Unfortunately, shareholders voted to give Kumar more shares with which to raise cash/dilute and, effectively, gave management a super-majority that would give them the ability to veto any takeover attempt even if a majority of shareholders wanted it. So another year has come and gone and still no deal(s). FWIW, I suspect that Paine Webber will get something done; maybe even broker some kind of buyout. Insite's intellectual assets are being squandered as things stand right now. Hopefully, the Board is finally getting as impatient as we are. Bob