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Biotech / Medical : biocircuits BIOC
BIOC 0.702+1.4%Jun 24 4:00 PM EDT

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To: cgl69 who wrote (40)7/8/1997 1:42:00 AM
From: Steve Robinett   of 65
 
Greg, What you're seeing on the April 14th-15th insider buying--10 buys--is the first step of a three-step financing deal. Check BIOC's most recent 10-Q. It talks about the first tranche being completed on April 15th. Since they just announced today that the $5 million July trance was completed--the most important of the three steps because it will keep them alive another year--I expect to see another big chunk of insider buying in the July insider numbers. These people are getting a quick 50% for their money, shares at about a buck and one warrant per share for another share, dilution but, as I said in the above post, the money gives BIOC more time to try to grow up and become a real company. Now they need a good menu of tests and some docs to buy the whiz-bang tester.
Best,
Steve
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