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

To: Bill Wexler who wrote (732)	4/15/1999 7:11:00 PM
From: Peter V	Read Replies (1) \| Respond to of 10293

From the CCSI 10-K, released today: In April 1999, the Company raised gross proceeds of $5 million from the private placement of 14% Senior Convertible Debentures due April 15, 2002, the proceeds of which the Company intends to use to support its marketing efforts and obligations under the arrangements with the marketing and distribution partner selected. Is this a floorless convertible? Anyone have details handy (so I don't have to look it up myself) And is it possible that CCSI may actually have a distributor soon??? The Company has agreed on definitive basic terms with two potential marketing and distribution partners for the exclusive distribution of the Colormate(Registered) TLc Bilitest(Trademark) System in the hospital, pediatrician and home healthcare markets. Both of these proposals include terms requiring minimum annual placements of the Colormate(Registered) TLc Bilitest(Trademark) System and TLc Lensette(Trademark) calibration standards and/or charges per use. The Board is reviewing both sets of terms as well as recommendations of its advisors and the Company anticipates selecting one of these distributors shortly. Uh, they have been at this for over a decade?? The Bilirubin Project. Since 1988, the Company has been engaged with Mt. Sinai Hospital, and more recently with Elmhurst Hospital in clinical research studies (the "Bilirubin Project") involving the use of the ColorMate(Registered) TLc BiliTest(Trademark) System in the monitoring of newborn bilirubinemia (infant jaundice) in infants. The initial studies conducted in Mt. Sinai Hospital tracked, on a parallel basis, (i) the non-invasive skin color measurements made of each infant by the ColorMate(Registered) Bilirubin Device and (ii) simultaneous blood samples drawn from the infant to obtain a laboratory report on the patient's bilirubin count. The first phase of testing in 1988 and 1989 resulted in a positive feasibility study demonstrating that the ColorMate(Registered) TLc BiliTest(Trademark) System skin color measurements corresponded in direct ratio to the laboratory reports of the blood samples drawn. The second phase, which was concluded in November 1992, studied a larger volume of patients and demonstrated the same results. In October 1993, the Company and Mt. Sinai Hospital published the research results to that date. From October 1993 to April 1996, the Company and Mt. Sinai Hospital conducted the third phase of clinical testing involving the compiling of certain additional clinical data relating to expanded testing on a larger group of patients, with emphasis on skin color measurement at birth and while under phototherapy (the current standard treatment for the disorder). We still don't have any numbers for production, and it looks like they are cannibalizing prototypes to manufacture "early stage maketing samples," despite the initial production run. In February 1999, the first manufacturing run of the Company's ColorMate(Registered) TLc BiliTest(Trademark) System (under FDA QSR as well as ISO 9001/EN46001 manufacturing regulatory requirements) for monitoring newborn jaundice was completed by the manufacturer. The Company commenced shipping the ColorMate(Registered) TLc BiliTest(Trademark) System to those hospitals having placed purchase orders for the systems under a limited time offer. The Company also has begun in-servicing at hospitals and with physicians who have placed initial orders. The Company believes, based on discussions with suppliers of components used in its ColorMate(Registered) TLc BiliTest(Trademark) System and published price lists, that the components can be purchased in quantities of 1,000 or more on terms acceptable to the Company. However, there can be no assurance the Company will be able to obtain such terms or order in such quantities, and manufacture of limited quantities of the ColorMate(Registered) units would be significantly more expensive. To the extent the Company successfully markets the ColorMate(Registered) TLc BiliTest(Trademark) System for medical application, the Company will use the nonproprietary and proprietary components of a portion of the existing ColorMate(Registered) units in its possession for the production of a limited number of such devices for early stage marketing and sales efforts and for commercial use.

To: Bill Wexler who wrote (732)	4/16/1999 1:58:00 AM
From: chester lee	Read Replies (1) \| Respond to of 10293

Bill, re:MCHM My thoughts exactly. Shot off another short of MCHM at 10-7/16. chester

To: Bill Wexler who wrote (732)	4/16/1999 5:03:00 AM
From: Bill Wexler	Read Replies (3) \| Respond to of 10293

VVUS needs to be looked at. Vivus just announced that earnings will come in at beter than expected $.12 Unfortunately, they didn't pre-release any details about revenues, etc. so I'm questioning the quality of the earnings. The stock has done nothing but flounder for the last year or so. it popped today from 3 and change to almost 5 on the news. What's kind of funny is all the preoccupation on the Vivus thread about the "shorts" and how the shorts will get "killed" tomorrow- which is kind of odd since most pro short-sellers established positions when the stock was trading much, much higher and the current days-to-cover is actually fairly small. The current hysterics on the Vivus thread lead me to believe that the longs are setting themselves up for the same kind of kick in the ass suffered by victims of the Biotime stock promotion fraud. The stock will probably take a small pop tomorrow but I will bet there's no follow-through. Furthermore, I will also bet that the euphoria surrounding this preannouncement will quickly disappear when the full earnings report is released. I'm not sure it would be worth it to short the stock going into the full report - but it may be interesting to buy some June puts.

To: Bill Wexler who wrote (732)	4/16/1999 6:46:00 PM
From: Peter V	Read Replies (1) \| Respond to of 10293

Hey, look at this, I'm getting PMs to encourage me to short CCSI: Go ahead Peter short CCSI, Please do it... As I told this fellow (who in the past has been none to friendly to the shorts), I'm waiting to see the momentum slow on CCSI before I initiate a short position again. But I suppose he is reading this anyway, to know I was thinking about CCSI again. The cryptic 10-K says it all, CCSI does not want to disclose enough to anyone to show how they are doing with this little decade-long project of theirs. At today's close, CCSI has a market cap of $160 million on trailing 12-month sales of just $450,000!! Is this bilirubin monitor, even if pretty successful, worth this much market cap? Because they aren't earning squat without it, only .03 per share, or nearly 350 price/sales. Gee, maybe I screwed up by not shorting it today. Then again, MCHM has a ps ratio of over 3000, a market cap of over 260 million, and sales of only $69,000, and that's why I shorted it today.

To: Bill Wexler who wrote (732)	4/23/1999 5:26:00 PM
From: Bill Wexler	Read Replies (5) \| Respond to of 10293

MCHM/CCSI - strong sell/ short sell recommendation. I believe we are approaching the apex of the MCHM and CCSI pumps. Janssen-Meyers has been disseminating a new round of hype and misinformation about both stocks in their continuing campaign to defraud small investors. MCHM is the "safer" short and a bit less volatile because the float is fairly large and the current short position is reasonable. Furthermore it has the highest market cap of all the ED frauds (SNTKY, ZONA). I don't think there is much more upside to MCHM before it tumbles back to the mid/low single digits. CCSI on the other hand has nearly 30% of its float shorted. There is no doubt the pressure is on and we may see a buy-in climax as early as next week. I strongly recommend calling your brokers before market open every day starting Monday morning to reserve shares. Watch the activity carefully during each day - if there is a sudden large price/volume spike on no news, short the shares immediately.