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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (163)	2/20/1999 4:35:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 3158

IMUL might be interesting as most people are either too lazy to do their homework to figure out the return or too stupid and sell it because they hear "it is going out of business". Have you estimated what the following might add up to? -continued operating losses until they are fully shut down -severance payments to employees or other extraordinary payments associated with closing down -the haircut on selling plant and equipment versus what it is on the books for - of little value? Do you know if the market value of "long term investments" is more or less than the carrying value? Since this is a big number, this is an important issue. These are questions that you probably have considered and on which you might have a view that you could share.

To: Biomaven who wrote (163)	2/21/1999 11:02:00 PM
From: Vector1	Read Replies (1) \| Respond to of 3158

From the March 98 10k Total employees of the Company decreased from 151 at December 31, 1996 to 27 at March 12, 1998. Total severance paid and accrued during 1997 was $3,147,000, which is included in the statement of operations for the year ended December 31, 1997. In addition, the Company subleased its facilities under a sublease effective February 27, 1998 resulting in a non-cash charge of $444,000 for the writedown of all of the Company's leasehold improvements to net realizable value.