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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: BDR who wrote (14217)	9/30/1998 4:15:00 AM
From: Bill Wexler	Respond to of 18691

Thanks for pointing out the HEPH site. It's even funnier than the old Zonagen web site. HEPH is going to 0.

To: BDR who wrote (14217)	9/30/1998 7:23:00 AM
From: dumbmoney	Read Replies (1) \| Respond to of 18691

The main problem with shorting HEPH is that they have a ton of cash and relatively low cash drain (only 9 employees!). As far as I can tell, there's no reason why they shouldn't be able to stay in business forever (or as long as they want to), even without ever selling anything (besides dreams). They do have a $4 million floorless convertible which becomes active in December, so that's a plus. There's quite a grab bag of people listed as selling shareholders in the S-3, including 152,776 shares from International Investor Relations Group, Inc. The S-3 doesn't say how IIRG obtained these shares.