beware of the facts !!, page-9

re: beware of the facts !!,figjam Stole this from figjams column in asx general .
Something smells fishy so don't get caught ye all and I wonder who the 3 gents are below ? lol


As we predicted in our last column, PHARMANET (PNO) went for
another run yesterday after the 1.6c rise to 2.6c on Wednesday on the
back of its discovery of a new pain-killer - Tripeptofen.

But what a run!

The shares skyrocketed as high as 9.4c.

Pharmanet closed at 8.6c, up 6c for the day, on turnover of 192
million shares, 62 million more than issued capital.

Meanwhile, just spare a thought for whoever it was that sold
out last thing on Tuesday at 1c, down 0.1c, just before the after-hours
Tripeptofen announcement.

But look who's laughing.

On July 1, 12 days before the Tripeptofen discovery, the
company raised $80,000 with an issue of convertible notes to three
holders.

These are convertible at any time at a price equal to 80 per
cent of the average weighted price of fully paid ordinary shares on the
five days before the notice of conversion, or at 1c a share plus a free
attaching option exercisable at 0.5c.

*****