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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (701)	4/13/1999 8:40:00 AM
From: Alan Newman	Respond to of 10293

BWT: It appears that a single entity, LCO Investments Limited ("LCO"), owns about 70% of the shares. They also bought most of them at around a $1/share. Here's the info on the purchase: sec.gov Couldn't LCO allow their shares to be borrowed, and then move all their shares into a cash account and force buy-backs? Alan

To: Bill Wexler who wrote (701)	4/18/1999 11:22:00 PM
From: Alan Lee	Read Replies (1) \| Respond to of 10293

Bill, did you ever look any closer at BWT? From their 10Q, they appeared to have about $10M in cash in December, with a burn rate of $5M per quarter and no income: The Company's financing activities resulted in an increase in cash of $14,784,000 during the nine month period ended December 31, 1998, due to the $15,000,000 of equity capital raised in May and December,1998. This increase was partially offset by the $5,013,000 of cash used by operating activities, principally research and development expenses related to the Company's new LATW technology as well as administrative expenses, marketing and capital expenditures related to preparing for the launch of BriteSmile Teeth Whitening Centers ... The decrease in sales was due to the fact that the Company had no sales of its laser-based arc lamp teeth whitening (LTW) system in the three and nine month periods ended December 31, 1998, and has discontinued all development work on the LTW system. Additionally, the Company has discontinued sales of take-home and in-office teeth whitening chemical products used with the LTW system.