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Biotech / Medical : Bio Technology General - BTGC -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (1852)	6/2/1999 11:09:00 PM
From: Dave O.	Read Replies (1) \| Respond to of 2028

Jim, I did see the expected $30 million expenditure for the new Mfg. facility. If you go to the meeting here's a couple questions: (1) Accounts Receivable is still in excess of $48 million. Why so high? Revenues last year were $76 million, so $48 million is 63% of revenues. Is this tied to the fact that they "recognize" revenues when product is shipped and Olsten (distributor of Oxandrin) is cutting back on purchases due to inventory buildup. Sounds like they might have "stuffed the channel" to make numbers look better than they actually were. (2) Why so much insider selling? I heard Barron's reported someone just sold 21,000 recently. Doesn't management have any faith in the company's future? Seems they exercise options and then turn around and sell shortly thereafter. Dave