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

To: EZLibra who wrote (2540)	9/11/1998 8:23:00 PM
From: PDavid	Read Replies (1) \| Respond to of 3702

Shero, help me out with this one. This pisses me off! Do you know the date on which the 2.5 million shares issued to the investors under the 20 mil. equity line were registered? For those unaware. Under the provisions of the Equity Line from June, there are reset provisions. According to the provisions, the 3 and 6 month reset periods begin on the date the shares are registered. The press release was on 6/16 and I remember that the company had to register the shares ASAP, according to Frost at the NY meeting. According to my calc, we have to issue about 500,000 plus warrants for 50,000 to the investors. Each reset period covers half of the initial 3.5 million. They got 2.5 million shares at about 1.50. therefore, we have to cover the difference between the price they paid and the price of the stock on the reset date, the first of which is about now. Looks like Tustin did it again. Who's job was it to keep an eye on this??!! Now some might say 500K is not alot. I agree, but it is still something that could have been avoided. That is what is most upsetting. It was not avoided! Is this our wonderful new team? PT