To: CO who wrote (1643 ) 9/11/1998 1:28:00 PM From: ksuave Read Replies (2) | Respond to of 4650
I simply must persist in my skepticism, Cheryl. Why in the world would Biomoda be selling shares at 1.5 - 2 if they're going to be offered soon at the much higher price of 7 - 10? Couldn't they just as easily be selling them for 3 or 4 or 5? After Biomoda releases these new shares, by how much will ADOT's ownership be diluted? As you point out, you can buy 10 shares of ADOT for every share of Biomoda (at the 1.5 price) and ADOT owns 22% of Biomoda, and that sounds like a good deal. Why then is Robins content to be selling shares of ADOT for .13 (and by doing so diluting our stake in both ADOT and Biomoda) when it will be worth so much more shortly? If it's not the company that's selling, please tell me who is, and why. I have been asked in a private message by someone who wishes to remain anonymous exactly what my problem is anyway. My problem is that I have increasingly found contradictions in the company's announcements that have been been blatantly glossed over by the company's apologists on this thread. When ADOT announced they would be buying shares back shortly after they reported they would be selling shares in order to continue with their R&D, a little alarm went off and I began reading and re-reading everything a little more carefully. I'm not particularly alarmed that the price of ADOT is currently so low as almost every single small cap stock I follow is near or at its 52 week low, and as everyone who's followed this thread for a more than a few months knows, I bent over backwards to overlook Leslie Robin's unfortunate personality and manners, but when the company puts out one bs press release after another and the very people who's research I relied on somewhat to make my investment decision start sounding like company mouthpieces and spread unverifiable rumors, I get a little alarmed and find it hard to remain quiet in the face of the irrational enthusiasm that follows. I currently remain a cynical holder of ADOT stock and will continue to express my doubts and questions as they arise. Richard