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Microcap & Penny Stocks : Pharmos(PARS) -- Ignore unavailable to you. Want to Upgrade?

To: Omer Shvili who wrote (1097)	7/27/1998 11:28:00 PM
From: ROBERT M. SILVER	Read Replies (1) \| Respond to of 1491

With regards to Omer's report that short interest in Pharmos increased only by 41,000 in month of July, hardly enough to drop the stock from 3 1/4 to 2 1/4 wonder if the Castle Creek selling is non-reported because it is shorting against the box (Their 5000 shares of convertible Preferred)? If their selling is not reported in the Nasdaq statistics, they could have sold as much as 2,400,000 shares (the approximate amount they will receive when they convert their shares) in the past couple of months. Wonder if Pharmos is going to ever make public when Castle Creek exercises the preferred stock. If the stock they sold short is covered by delivering their new shares, their shares would not be overhanging the market for potential liquidation. Being a hedge fund cant see them holding on to pharmos stock for a long term. Then our only memory of them will be the 750,000 shares they can purchase by way of options in the next three years. Cant see any negative impact on share prices by virtue of these options. The dilution is already figured in as to the number of outstanding shares there are for Pharmos. Without selling pressure on Pharmos in August, stock should rally, Any market mavens here to give an opinion. Robert