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Biotech / Medical : Trinity Biotech (TRIBY) -- Ignore unavailable to you. Want to Upgrade?

To: Findit who wrote (9746)	7/18/1998 1:39:00 PM
From: dowman	Read Replies (3) \| Respond to of 14328

I could not have said it any better. While all the conversation is about when it will hit 3 I find this posting, copied from an AOL board on TRIBY, a great summation of why this stock, selling at the same price as 3 years ago, will not "SEE 3" without a huge change by management in terms of disclosure. Subject: Re: dog eat dog Date: Fri, Jul 17, 1998 21:24 EDT From: JMont234 Message-id: <1998071801243700.VAA02309@ladder01.news.aol.com> What took you so long? This has become a junk stock as direct result of the companies actions or/and lack thereof. They've worked long and hard to make it that. Over the last several years in practicaly every conference call, and their "glossy" annual reports, Trinity management has spewed forth all kinds of glowing statements as to planned FDA submissions, Uni-gold test launches...Strep A, PSA, Clamydia, NASDAQ NMS listing and on and on. The annual reports even have great color pictures of the famed uni-gold tests that initally excited the investment community early on in Trinity's history. One problem though, from what I can see almost all the uni-gold tests at this point are vapor with the exception of H.Pylori. HIV and Hcg. Tell me, if you were a broker or analyst listening to these statements and at the end of the year went back and examined to what extent the company accomplished its stated goals would you put your company's or a valued client's money into this co? There has been almost zero internal growth in this co. Practically all growth has been acquisition related and of course at shareholder expense through the issuance of new shares including a recent floorless convertable debenture offering that has devastated the stock of many small companies. All the TRIBY pundits will tell you how many tests they have now 90? 100? whatever but what they dont say is that their making very little money off them and I'd wager that probably half their meager revenues are due to the only the only substantial contract they have (with WLA) for the pregnancey test. They'll patronize ya all day long telling ya how much progress their making and what a fine job their doing and that the shareholders are very important and that you'all be rewarded. But the truth is they can't even get the proxies to their shareholders on time and their PR is abysmal..that is if they can keep a PR firm long enough. Thats not to say that Trinity managment and directors won't or havn't been making a killing by issuing themselves hundreds of thousands of cheap options at a huge discount to market. I saw recently that they even issued a press release stating that they converted the options to stock..not hard to do if your getting it at around $1 share (from what I can see in the annual report), boy there's a huge risk there isnt it?. Even at todays prices thats a healthy profit. Managment of many companies will buy at market to give the investment community confidence but these guys aren't stupid they intend to make money...and IMO at your expense. IMO they dont give a rats ass about their shareholders and like most smallcap co's that go public their out to use the publics money to collect a paycheck and enrich themselves at unwitting investors expense while returning as little as possible. All of course is IMO. jm