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Biotech / Medical : Paracelsian Inc (PRLN) -- Ignore unavailable to you. Want to Upgrade?

To: Judy Muldawer who wrote (4231)	5/2/1999 1:52:00 PM
From: John H. Farro	Read Replies (1) \| Respond to of 4342

I just got through reading the annual report which arrived in my mail a few days ago. Threre isn't much there that we don't already know. However, I don't remember seeing these tidbits before: 1) The stockholder's meeting notice states that Biomar International changed its name to "BioSignia, Inc." (bottom of page 2) 2) On January 15th, 1988 the company granted Bernie Landes 800,000 options to purchase the stock for $.22/share. "The oprions vest and become exercisable in accordance with the following schedule: * 100,000 option shares on the date that the losing price of the common stock of the company is equal to or greater than $1.00 per share for ten consecutive trading days. * 100,000 option shares on the date that the losing price of the common stock of the company is equal to or greater than $2.00 per share for ten consecutive trading days. * 100,000 option shares on the date that the losing price of the common stock of the company is equal to or greater than $3.00 per share for ten consecutive trading days. * 100,000 option shares on the date that the losing price of the common stock of the company is equal to or greater than $4.00 per share for ten consecutive trading days. * 100,000 option shares on the date that the losing price of the common stock of the company is equal to or greater than $5.00 per share for ten consecutive trading days. * 50,000 option shares on January 15, 1999 if the Chief Executive Officer is still employed in the same capacity with the Company. * 250,000 option shares on January 15, 2002 if the Chief Executive Officer is continuously employed in the same capacity with the Company." (Annual Report: p.33) I like this arrangement. It gives Bernie an incentive to stay with the company long enough to develop it into a winner. Not too much else is new. I did notice that the cover of the Annual Report is printed on regular paper as opposed to the stiffer glossier covers of previous years. Maybe this doesn't look quite as slick, but I'm sure they saved some money doing it this way. I doubt it makes that much difference for each copy of the report, but if they print out 1000 copies of the report it could easily save a few hundred dollars. This is just fine by me. A management that looks after the small expenses will look after the big ones as well. I'm sure the company could use the few hundred more productively on research than on fancy paper covers. Contrast this attitude with that of former management which paid stockholder money to silence one of its critics. I hope I will get to see some of you at the May 25th stockholders meeting. Robin