Ann: Anagrelide Project Update, page-67

The last time things were dire and the ‘one trick pony’ description dogged the company, the big acquisition (company saver) was the purchase with Bergen’s money of Novadel’s old filing cabinets... The majority of that money seems like it was paid for what we now know would otherwise have been shredded. It’s so easy to confuse reality with hype sometimes. The current guys are a country mile ahead as far as smarts go, however, this doesn’t mean they can make a fortune for all out of a company that’s expensive to run, has nothing overly unique in its current assets, and has FA cash to buy and do anything further. Turning around a distressed business is an exception, not necessarily the rule... it needs a lot of luck in conjunction with good management. In hind sight, had they have divested all the 5hit and focussed solely on a surgical supply distribution network, they may have got somewhere.. it’s alright to want to catch the big one but the little stuff generally is what feeds everybody. Glad I’m out as there is a shipload of risk here still...