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To: Double Dipper who wrote (223)1/28/1998 10:23:00 AM
From: Stuart FineRead Replies (1) | Respond to of 371
 
Kevin,

You are right I was mincing words, but I wanted you to understand that the $$$ investment into Mitolactol was nil. The asset on our books was the value of the stock that used to acquire the asset. Which was eventually written off our books.

Why pursue completion of the drug. I say, "How can we not?!?!?" First there is no monetary risk for our company. We aren't paying a dime for anything. The drug has a patient population in the US of anywhere from 58,000 - 70,000 patients for the two indications. At a treatment cost of approximately $4,000 if we treated a quarter of the patients sales for the drug would be $50MM. Using a conservative net margin of 60% would give the drug a $30MM net income, of which we receive 55% or $16.5MM, that would contribute almost a $1 per share to earnings. It would be foolish not to pursue this opportunity.

Sincerely,

Stuart Fine


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