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

To: Terry D. who wrote (2807)	12/18/1998 5:28:00 PM
From: Maurice Winn	Respond to of 3702

Terry, As a shareholder, you weren't having your interests looked after. The management of the company sold shares to third parties at a 20% discount and the third party sold them to you at market rates. That seems absurd. It is like selling yourself something by getting somebody else to sell it to you and they take a cut. I suppose there is an argument that issuing discounted stock to an agent in bulk is cheaper than issuing it a bit at a time. 20% seems quite an agent's fee though! The S3 buyers got an even better agent's fee. The management and directors also gave themselves a bunch of cheap or repriced stock which was in lieu of salaries or whatever. Maurice