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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: Dan Sorenson who wrote (7417)	11/26/1998 7:27:00 PM
From: Dan Sorenson	Read Replies (2) \| Respond to of 8116

Biggest thing in S-1 is unfortunately Reiser's plan to avoid delisting. He is relying on the Nasdaq giving us an exception and allowing us to be listed under the exception while we restructure. In my opinion, this will not work. You see there is no real way to convince Nasdaq that we can meet their standards at anytime in the near future. Do the math, we have an equity deficit shortage of about $6 mil right now (our equity is negative $2.5 mil and NASDAQ requires a positive $4 mil). We can only create new equity under the new financing at a slow rate of about $500,000*.75 or less than four hundred thousand dollars every twenty TRADING days. Without the one-time Berlex money we are losing money every day. There is now way to catch up, unless there is some major venture type capital deal coming our way.. We need an infusion of major big bucks to continue being listed. Of course I am assuming that being UN-listed is a fatal death blow. It will be because we will not have any sources of cash. SO JOE, you can either sell the company ASAP or you can wait a couple months and give it away for lets say about $.30 per share. Shit, Berlex would probably go for that and they might even pay you a big finders fees under the table. Your Choice... Dan