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Biotech / Medical : BIOTECH & TECHNOLOGY INVESTING *UNDERVALUED*{T/A F/A & V} -- Ignore unavailable to you. Want to Upgrade?

To: Micawber who wrote (83)	2/19/1999 1:23:00 AM
From: BRAVEHEART	Read Replies (2) \| Respond to of 423

Hi Gang, While I have some difficulty calling Viragen undervalued. Given it's recent manipulation I would have to believe it is trading somewhat lower than a normal trading range would allow. The purpose of my post is to identify what I believe is the end of said manipulation. If true the stock should pop back to a normal trading range of say around $1.50. Right now the company is finishing a convertible financing. It just had it's final two day low convert price determination at 15/32nds and 17/32nds. The shorts covered today based on a 1 mil+ trading volume at 9/16ths. The M&M's and converters held it there until they fully covered. I expect the stock to start poping along real soon. quote.yahoo.com They have been converting at full rate... Series H avg 20 per week of 500 ( 156 ){ 31 % } outstanding as of Dec 31 Series I at 7.5 per week of 200 ( 86 ){ 43% }outstanding as of Dec 31. ie allowed to convert 25% if pass a prior convert. Hence convert 10% at lowest point. Actual SEC amounts: SERIES H cumulative convertible preferred stock, $1.00 par Value. Authorized 500 shares; issued and outstanding 156 and 500 shares at December 31, 1998 and June 30, 1998, respectively. $1,682,389 ( 3 month amt ) $5,146,851 ( total orig amt ) SERIES I cumulative convertible preferred stock, $1.00 par Value. Authorized 500 shares; issued and outstanding 86 and 200 shares at December 31, 1998 and June 30, 1998, respectively ******$912,462 ( 3 month figure ) $2,039,014 ( total amount ) Series H remaining 78 @ two day low of 21/32 x 82% = 1.5 mil. Series H remaining 78 @ two day low of 4/8 X 82% = 1.9 mil. Series I remaining 43 @ two day low of 21/32 X 82% = .7 mil. Series I remaining 43 @ two day low of 4/8 X 82% = .97 mil. Total increase in shares outstanding from the December figure will amount to approximately. FIVE MILLION SHARES Hence as of Dec the 31 there were 57.1 million shares outstanding Thus, we will have approximately 62.1 million shares outstanding. Assuming this is our final two day low. I am banking on it. LONE WOLF