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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Steve Harmon who wrote (1446)9/29/1998 2:53:00 PM
From: Dr. John M. de Castro  Respond to of 2742
 
I doubt that it's a typo. The Oct. 30 date is probably the most recent estimate. If I remember the release regarding the letter of intent, there were no contingencies announced if the target date were not met. So, I doubt that a delay would affect any component of the agreement. These agreements can get quite complicated. It wouldn't surprise me a bit if it's taking a little longer to finalize it than initially anticipated.

John de C



To: Steve Harmon who wrote (1446)9/29/1998 3:09:00 PM
From: Steve Harmon  Respond to of 2742
 
Just a hypothetical: *In this scenario shareholders get paid not Mgt.*

Cistron closes its doors.

Cistron buys back the current float of 16 million shares at .23 cents. Cost is $3.68 million.

That leaves 7 million shares in the hands of current shareholders.

Also leaves roughly $8.3 million in cash to distribute to the current shareholders holding those 7 million shares or $1.18 a share.

No premium is given in the above hypothetical for IL-1.


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