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Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: HRAKA who wrote (7083)	1/21/1999 7:02:00 PM
From: lawrence lerner	Respond to of 8359

You might be right about the public announcement. However, at the time, the stock having come under tremndous pressure, including the down market at the time, JT had received inquiries at the very least about buyin/out of the company. The three month plus several weeks deadline must have had a basis in fact at the time he made that prognostication, whether buyin/out; financing restructuring, whatever seemed to be the best option to maximize shareholder value. That is what the time frame was about -- not just a buyin/out. The $30 to $70, or $25 to $50, whatever, were valuations he put forward as what he believed represented maximum shareholder value based on quality management, research, germplasm, and market, relying on the then market conditions. Many shorts and longs have taken the extremes of all information and presented them as absolutes, which is what one does when one is self-serving. That is what I feel the issue is: not what date a deal is deadlined at, or how much an acquiring company should pay in order to receive fair value. This is the story of what I believe to be a terrific growth company Having short term debt considerations, he set about strengthening the abtx foundation by pursuing strategic options, ONE of which was to have a buyin/out considered. What would I do if I had been in his position about a time frame? Well, I suppose since I'm long term long and have faith in his leadership based on past performance, I obviously agree with his method, even if it has yet to bear fruit. Hard to second guess this one. If he hadn't reacted as he did, he would not be JT, in which case I might not be long term long. (Not blind faith, mind you, people do make mistakes; but, mistakes can be remedied by our only true asset -- so long as it lasts -- time). I guess you choose to manifest the long term faith you have in the company by hedging with your IRA. I just do it differently. Good luck to both of us. IMHO, of course.

To: HRAKA who wrote (7083)	1/21/1999 10:35:00 PM
From: M. Carver	Read Replies (3) \| Respond to of 8359

Hraka, Everyone is entitled to an opinion (your guess that the buyin/buyont will happen in March, not earlier). Right or wrong, I choose to believe we are on track (time wise) with ABTX's original time-line (for late Jan./early Feb.). I called the company today, went back and reviewed a few articles, and just wanted to post a few published facts from recent ABTX press releases: 1. (12/8/98): "The company is proceeding uninterrupted with the previously announced strategic alternative process". 2. (12/11/98): "...independent of the strategic alternative process, which is continuing as planned". 3. (12/22/98): "The strategic alternative process is continuing on schedule". 4. (1/11/99): "The company is proceeding on schedule with the previously announced strategic alternative process". I reached John Francis's voice mail tonight and heard "ABT has no developments or other news to announce at this time". Interesting message. As the deal becomes imminent, the company has to be very careful about updates - hence I think we are going to have "silence" for the next few days or weeks. (Also John said he had a recent surgery -- someone at the company told me he is basically putting in half-days currently). Also confirmed is the annual shareholder's meeting for February 22nd at 10 AM. I can understand (and put up with) the daily fluctuations of the stock price. What I find more puzzling is a feeling out here by some shareholders that ABTX won't follow through with their original timetable. I believe management has been very forthcoming and honest to us for a long time - I don't think they will start a new (and negative) trend now by missing the largest commitment they have ever made to the investment community. Maybe I am being too naive or trusting, but until ABTX changes their tune, all I can document is the company singing the same song over and over again. Best wishes to all during the next few weeks! PS: Anyone else planning on attending the shareholder meeting?