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Biotech / Medical : Pharmos (PARS) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (630)	3/11/1999 4:56:00 PM
From: David Israel-Rosen	Read Replies (1) \| Respond to of 1386

I have No intention of negotiating with these guys I will leave that to the CFO. All i suggested is that we finance this transaction for management in exchange for a Good Deal for Us.

To: LLCF who wrote (630)	3/11/1999 5:47:00 PM
From: Tony van Werkhooven	Read Replies (1) \| Respond to of 1386

David- Your comment:<... hedge funds do transactions to make money... they put together the proposal on the prefered and undoubtedly made sure they made quite a profit... if they sell the security back they> A while ago I read through the description of the Pref. shares - back when we were discussing the conversion price- it is my recollection that any redemption is punitive towards PARS. Which makes sense from the perspective of the devil (I mean CC), otherwise they could open themselves to a short squize. Tony