X-Message-Number: 2302
Subject: CRYONICS: 21st Century Offering
Date: Mon, 07 Jun 1993 20:18:15 -0400
From: "Perry E. Metzger" <>


> From:  (Charles Platt)
> 
> I am aware of some deficiencies in the offering. I think it could stress 
> the potential for profit more than it does.

I haven't read any of the materials, but I'll say as a member of the
securities industry and investor that virtually every prospectus or
offering document produced anywhere as a matter of course is as
depressing as possible. You never want to leave even the slightest
hint that your company might make money, lest someone sue you for
material misrepresentation in your prospectus. Many typical documents
I've seen say things virtually on the order of "And if the entire
staff is killed in a freak accident, there would likely be severe
reprecussions for the firm."

This is not to say that the 21st Century documents were necessarily
prepared with this in mind -- I dont know anything about them -- but I
will say that its common in securities offerings to be excessive in
one's frankness.

Perry

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