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Biotech / Medical : Techniclone (TCLN) -- Ignore unavailable to you. Want to Upgrade?

To: Clint Eckhardt who wrote (2506)	9/3/1998 4:12:00 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 3702

Clint, now that the news is out on TNT in glioma, I'm not aware of any substantial news that can come out to really get people excited. If it's true that there will be wide television exposure of some TNT patients who have enjoyed a new lease on life, brief though it might be, then there could well be an Entremed type period of higher stock price. As TCLN investors have found from the overflow effect on TCLN price when it briefly went up to $2.30 or so, many 'investors' have short attention spans and sell out when they don't treble their money and retire to Aruba on the speculation that there might one day be people cured of their disease. Now that TCLN is bouncing along at $1 or just under, many people will dislike the idea of being delisted and be tempted to sell. So, I think there will be a further sag in the price. Just an opinion and only a guess. There are an infinite array of variables affect the price and maybe a more dominant effect will suddenly appear and shoot the price to $20 as some have said it will be by the end of the year [without a stock reverse split]. Message 5081373 That is a good place to start to hear about reverse splits. The key to reverse splits is not the raving, ranting, abusive, unreasoning approach which seems common. It is to judge the fundamentals of the company involved and the management values which lead to consideration of reverse splits. As TCLN shareholders know, there is a tendency for some managers and directors to see a company as their personal till to be dipped into and the shareholders not as partners, but as sheep to be fleeced. If your managment is like that, then a reverse split will indeed be only a mechanism to line their own pockets. If they are good people, with sound managment and technical skills and the company really does have some products of high value, then a reverse split is simply a mechanism to comply with the arbitrary whim of Nasdaq that $1 is some magical figure - although they happily quote cents in their quotes so unlike Y2K, there are places in the computers for the cents. Because TCLN has failed to come up with the goods and has had to raise more money by selling more shares, in unfortunate circumstances - to put it politely, previous shareholders have lost their investment. They incorrectly judged the prospects of success. That is water under the bridge and what is needed is a sensible, reasoned corporate capital structure with sound, responsible, skilled, intelligent, capable and blah blah blah management to make it function and get the technology through the FDA circus. It seems that people are happy with management now, for the the most part. So, what is management going to do about your delisting prospects? Wait for a crisis? Maurice *Less money to brokers via spreads* = the spread is higher with a low price. Check 10 stocks at different prices for evidence. That's reason number 7 Shero. Can you recall the first two?