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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: John H. Farro who wrote (4090)	1/17/1999 8:33:00 AM
From: John H. Farro	Respond to of 4342

Well, I finally finished reading the annual report. I see Jonathan and Paul beat me to it in hitting most of the highlights. I had scathing assessment of the annual report for 1996 and I would have had a scathing assessment of the annual report for 1997 but I had my reasons for deciding not to post them here at that time. I must note two negative aspects to this report: 1) It looks highly questionable that we will ever be able to collect on $298,000 plus interest on the loan we made to East West herbs. 2)Under the section "SIGNIFICANT ACCOUNTING POLICIES--INVENTORY" it says: Inventory represents tablets of Andrographis paniculata held for resale at cost I am a little disappointed that it is not being held for resale at a profit. But I'm sure that if in opportunity comes along for them to sell it at a profit, they will take it. Those are the only two things I could find to criticize in the report. They both deal with the legacy left by old management. They are relatively insignificant when one looks at the big picture. Folks, I think the next 3 - 6 months should be very exciting for PRLN stockholders. I want to emphasize this statement: Management anticipates that revenues from its BioFIT (TM) quality assurance program will commence in January 1999 and that revenues associated with its AhIMMUNOASSAY will also commence during the second quarter of fiscal 1999. Note that it says they expect revenues from the AhIMMUNOASSAY to commence in the secons quarter of fiscal 1999. We are already in the second quarter of fiscal 1999 so an agreement shouldn't be that far off. Also, notice it took nearly 6 months between the time when we first saw an agreement with Scherer and the time that money from that agreement first flowed into the company. The sentence I quoted said that revenues associated with the AhIMMUNOASSAY should flow into the company THIS QUARTER,, so we should be seeing some money almost immediately after an agreement has been reached. Overall, I am feeling very good about the prospects for our company. Though the stock price isn't where we would like it to be, we should thank Bernie Landes for the hard work he's done for us so far. Between the incoming revenues for the BioFIT program and the probable revenues from the AhIMMUNOASSAY, I would expect the stock price to go up significantly soon. If we get positive results from the SRI research this spring, then that will be icing on the cake. Robin