Entropin Inc · 8-K · For 6/21/99

Filed On 6/21/99   ·   SEC File 33-23693   ·   Accession Number 1017951-99-100

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         June 21, 1999 Form 8-K                                 9     50K 

Document Table of Contents

8-K
1st Page of 9
TOC
Top
Previous
Next
Bottom
Just 1st
 

SECURITIES AND EXCHANGE COMMISSION          

Washington, D.C.  20549         

FORM 8-K          

CURRENT REPORT          

Pursuant to Section 13 or 15(d) of          
the Securities Exchange Act of 1934         

JUNE 21, 1999         
-------------         
(Date of Report)          

ENTROPIN, INC.          
------------------------------------------------------          
(Exact Name of Registrant as specified in its charter)          

COLORADO                33-23693             84-1090424         
----------------------------  ------------       -------------------            
(State or other jurisdiction   (Commission          (IRS Employer               
of incorporation)          File Number)       Identification No.)       

45926 OASIS STREET, INDIO, CA 92201       
----------------------------------------------------------        
(Address of principal executive offices including zip code)       

(760) 775-8333        
--------------------------------------------------        
(Registrant's telephone number including area code)       

21550 OXNARD STREET, SUITE 810, WOODLAND HILLS, CA 91367        
-------------------------------------------------------------       
(Former name or former address, if changed since last report)       

8-K
2nd Page of 9
TOC
1st
Previous
Next
Bottom
Just 2nd

ITEM 5.  OTHER EVENTS.                                                          
---------------------                                                           

Registrant mailed to its shareholders the following Executive Summary 
which contains certain forward looking statements that are not historical       
or current facts and are "Forward- Looking Statements" made pursuant to the     
Safe Harbor Provisions in the Federal Securities Laws.  These statements        
often can be identified by the use of terms such as "may," "will,"              
"expect," "anticipate," "estimate," or "continue," or the negative thereof.     
Such forward-looking statements speak only as of the date made.  Any            
forward-looking statements represents management's best judgment as to what     
may occur in the future.  However, forward-looking statements are subject       
to risks, uncertainties and important facts beyond the control of the           
Company that could cause actual results and events to differ materially         
from historical results of operations and events and those presently            
anticipated or projected. These factors include, but are not limited to         
those discussed under the caption "risk factors" in Item 1 of the Company's     
form 10-KSB for the year ending December 31, 1998.  The Company disclaims       
any obligation subsequently to revise any forward-looking statements to         
reflect events or circumstances after the date of such statement or to          
reflect the occurrence of anticipated or unanticipated events.                  

EXECUTIVE SUMMARY       
(ETOP: OTC BB)        
BUSINESS PLAN       

COMPANY OVERVIEW.   Entropin(R), Inc. ( ETOP: OTC BB) is currently engaged      
in pharmaceutical research and is continuing to develop a patented              
medicinal preparation known as Esterom(R) for sale to the public. The           
Company is the beneficiary of more than 19 years of extensive research and      
development perfecting Esterom(R), originally undertaken by Lowell M.           
Somers, M.D., the inventor, and James E. Wynn, Ph.D., now one of the            
Company's scientific advisors.  The Company has been assigned seven patents     
issued by the U.S. Patent Office, has six approved international patents,       
and is seeking international patent protection in 23 other foreign              
countries. The Company is currently pursuing approval of the product with       
the U.S. Food and Drug Administration ("FDA"). Entropin(R) has a current        
and open Investigational New Drug (IND) file with the FDA and Phase III         
clinical trials are scheduled to start summer of 1999.                          

Esterom(R) is a medicinal preparation that is effective in the treatment of     
impaired range of motion (ROM) associated with acute lower back sprain and      
acute painful shoulder.  Dr. Somers' original investigations focused on the     
treatment of rheumatoid arthritis and related conditions.  Although not         
controlled clinical trials, these studies provided anecdotal evidence for       
effectiveness in treating impaired range of motion associated with              
arthritis and related conditions, and led to the development of the current     
product, Esterom(R).  In subsequent controlled Phase II Clinical Trials two     
topical applications of Esterom(R) separated by 24 hours have demonstrated      
effectiveness in the treatment of impaired range of motion associated with      
both acute painful shoulder and acute lower back sprain.  In these trials       
the range of motion for both indications has been shown to improve              
significantly compared to patients receiving applications of the placebo.       
The Company is currently completing preparations for Phase III studies to       
further evaluate Esterom(R)'s safety and effectiveness in the treatment of      
limited ROM associated with acute painful shoulder.  Subsequent to FDA          
approval for this single indication, approval will be sought for treatment      
of limited ROM associated with acute back sprain.  Aftermarket studies will     
be conducted to support the use of Esterom(R) in the treatment of limited       
ROM associated with arthritis and related conditions.                           

8-K
3rd Page of 9
TOC
1st
Previous
Next
Bottom
Just 3rd

According to a recent market survey performed by Front Line Strategic           
Management Consultants, Inc. nearly 17.5 million Americans are affected by      
acute shoulder or back strain and related conditions each year.  Current        
options for treating limited ROM in the painful shoulder and acute back are     
limited.  No treatment  other that palliative therapy is recognized for         
acute back sprain as reported by the U.S. Agency for Health Care Policy and     
Research.  The application of Esterom(R) represents a potentially superior      
treatment for painful shoulder and the only drug treatment to effectively       
improve ROM in acute back sprain.  The total annual cost of these               
conditions, including lost productivity, exceeds $50 billion (U.S. Agency       
for Health Care Policy and Research).  Given FDA approvals, the Company         
feels that there is a multibillion dollar market  for Esterom(R).               

The Company has concentrated its effort in the development and                  
commercialization of Esterom(R) and has incurred operating loses                
commensurate with this development work.  The Company anticipates               
generating meaningful commercial revenues and profits in 2002 following         
approval by the FDA of the Company's NDA for Esterom(R).                        

Entropin(R) is a bio-pharmaceutical firm aggressively pursuing a very large     
unaddressed healthcare market in the U.S. and throughout the world.             
Entropin(R) is a publicly held company that files periodic reports,             
including Annual Reports containing consolidated financial statements of        
the Company audited by independent public accountants, and quarterly            
reports, which contain unaudited financial statements, with the Securities      
and Exchange Commission.  Copies of such reports can be obtained by writing     
to the Commission, Public Reference Section, 450 Fifth Street, NW,              
Washington, D.C.  20549.   Below is a summary of some of the primary            
characteristics of the Company:                                                 

*    ETOP,  A UNIQUE BIO-PHARMACEUTICAL FIRM, IS PURSUING A MULTIBILLION        
DOLLAR U.S. MARKET.  At this time, treatment options for restricted   
ROM associated with acute painful shoulder or back sprain are limited 
at best.  For acute back sprain only palliative therapy exists which  
serves a limited transitional need and ignores the underlying         
therapeutic condition of the patient.  Treatments for limited ROM     
associated with acute painful shoulder as well as other joints        
involves the use of drugs that have many side effects and generally   
provide limited if any improvement in ROM of the affected joint.      
Because of the unique effectiveness and safety profile of its product 
Esterom(R), the Company projects that it will become an important     
player in this health field.  The Company feels that the increase in  
the number of senior citizens due to the aging "baby boomers",        
expansion of its application to the treatment of arthritic conditions,
expansion into the international market place, and expansion into     
veterinary uses will be significant factors in increasing Esterom(R)'s
future markets.                                                       

*    PATENT PROTECTED TECHNOLOGY AND THE START OF FDA PHASE III CLINICAL        
TRIALS SUMMER 1999. The Company has secured seven U.S. patents.       
Patents for Entropin(R)'s basic composition patent  have been issued  
in Japan, China, Australia, New Zealand, Israel, and South Africa and 
is pending in 23 other foreign countries. Based upon the Company's    
statistically significant clinical results in Phase I and Phase II,   
the U.S. Food and Drug Administration has recently permitted the      
Company to commence Phase III clinical trials which should end in 2000
with the NDA filed in 2001.  Thus, a substantial portion of the risk  
related to governmental approval and commercialization of this        
technology has been absorbed by the Company through its development   
efforts.                                                              

8-K
4th Page of 9
TOC
1st
Previous
Next
Bottom
Just 4th

*    FDA APPROVAL EXPECTED 2001; ETOP COMMERCIAL SALES BY 2002. Based upon      
the Company's commencement of Phase III clinical trials in summer of  
1999, ETOP expects to submit a new drug application for FDA approval  
by 2001, with sales to occur in 2002. The Company's management        
believes the projected revenues from commercial sales in the U.S.     
should increase materially upon introduction of Esterom(R) for the    
years 2002 and beyond.                                                

*    ONLY $4.8 MILLION IN R&D SPENT BY ETOP TO DATE COMPARED TO $25 MILLION     
AS AN INDUSTRY AVERAGE.  Based upon the Company's continuing focus of 
sustaining a low burn rate and maintaining its working capital, ETOP  
has achieved a distinction few other companies enjoy. The Company has 
spent a fraction of the total working capital normally required to    
reach Phase III; thereby, minimizing common stock dilution and        
conserving cash.                                                      

*    USE OF "VIRTUAL COMPANY MODEL" HAS CUT ETOP'S BURN RATE WITHOUT            
ERODING PERFORMANCE.  The innovative approach which the Company has   
undertaken, utilizing a "virtual company model", has served it well.  
By drawing upon seasoned pharmaceutical and industrial executives,    
ETOP has succeeded in proving that outsourcing can be economical and  
managerially efficient. The Company expects the transition to formal, 
full time management to occur over the next eighteen months as it     
prepares for commercialization of Esterom(R). The use of this "virtual
company model" has maintained a substantially lower than expected burn
rate for ETOP and contrasts favorably with other comparable bio-      
pharmaceutical  firms which have consumed far greater amounts of      
capital at this stage of development.                                 

*    ETOP EXPECTS SIGNIFICANT COMMERCIAL REVENUES AND PROFITS IN 2002. ETOP     
projects its commercial revenues to increase each year following FDA  
approval of its NDA in 2002. The Company's projected cash flow should 
increase shareholder value. This contemplates ETOP's completion of one
or more commercial strategic alliances and the continued relationship 
with its major manufacturing partner, Mallinckrodt, Inc. (NYSE:MKG).  

THE ESTEROM(R) TECHNOLOGY.  Dr. Somers originally discovered Esterom(R) in      
1979. The product name is derived from its chemical identity and medical        
purpose since it is an ester that improves the range of motion of patients      
suffering from a painful shoulder or back sprain/strain. Dr. Wynn developed     
a manufacturing method that produced a consistent and stable product which      
satisfies FDA requirements. The reproducible hydrolytic process that Dr.        
Wynn developed led to the discovery of three new molecules in 1993. The         
three newly discovered molecules are a novel class of new compounds which       
have been patented in the U.S. and internationally in Japan, Australia, New     
Zealand, Israel, and South Africa with patents pending in 24 other countries.   

Because a component of Esterom(R) is a cocaine derivative, the product is       
presently a Schedule II controlled substance. However, the results of Phase     
I and Phase II clinical trials showed no adverse side effects or related        
substance-dependent tendencies, including no central nervous system             
activity, elevated blood pressure, increase in heart rate or euphoria.          
Results of pre-clinical, Phase I and II trials indicate that the components     
of this medicine do not cross the blood barrier. Consequently, no               
potential for abuse is anticipated. An application has been made to the         
Drug Enforcement Administration ("DEA") to reclassify Esterom(R) and delist     
it as a controlled substance.                                                   

CLINICAL TRIAL RESULTS.  An Investigational New Drug ("IND") application        
was filed with the FDA on March 9, 1987, seeking permission to commence         
human clinical testing of Esterom(R). The results of four pre-clinical          
animal studies, with no toxicity noted, were incorporated within the IND        

8-K
5th Page of 9
TOC
1st
Previous
Next
Bottom
Just 5th

Application for FDA approval to allow ETOP to begin human clinical trials.      

The Company's Phase I clinical study involved 24 healthy male subjects and      
was concluded with no meaningful toxicity observed. Since Esterom(R)            
maintained a clear toxicity profile and was shown to be safe in both            
animals and in healthy male volunteers when applied topically, the FDA          
approved a protocol for a Phase II Clinical Study.                              

The Phase II study involved a double-blind, randomized, placebo-controlled      
investigation designed to continue to look for adverse effects and to           
determine the efficacy of Esterom(R) in patients who have an impaired range     
of motion resulting from acute lower back sprain and strain and acute           
painful shoulder or following the removal of cast. The Phase II clinical        
study involved 97 patients, each received two applications of Esterom(R) or     
placebo, with the second application being performed 24 hours after the         
first. Overall, Esterom(R) provided statistical significant improved ROM        
for both the back and shoulder patients which was sustained for at least        
seven days. There was no clinically observed local anesthetic or analgesic      
effect.                                                                         

Entropin(R) is scheduled to begin Phase III clinical trials in summer of        
1999. Phase III studies prior to completion of an NDA are required by the       
FDA for final approval of a new prescription drug. As currently planned,        
the Phase III studies will include multiple trials in a number of clinical      
site study centers in differing geographic areas of the U.S.  Approximately     
600 patients will be selected for the study of which approximately 400          
patients will receive one of two strengths (a single and double strength        
formulation) of Esterom(R) and 200 patients will receive the placebo. The       
studies will be double-blind and placebo-controlled. Each study will            
include a regimen of two applications, with the second application 24 hours     
after the first and a seven day, thirty day follow up for the acute study       
and six month follow-up for the chronic study.                                  

Based on its Phase I and II clinical studies, the Company believes that         
Esterom(R) may involve a new and unique mechanism of action. The Phase I        
study demonstrated that the product did not cause detectable systemic           
effects including no effect on the cardiovascular system. During the study,     
Esterom(R) caused no significant adverse events and was observed to be          
safe. The Company confirmed that in Phase I and Phase II trials, no local       
anesthetic activity or vasoconstrictive activity was observed. While the        
precise mechanism of Esterom(R) is not known, additional studies will be        
undertaken during the course of the Phase III clinical trials to determine      
the mechanism of action for this product.                                       

MANUFACTURING RELATIONSHIPS.  Mallinckrodt, Inc. ("Mallinckrodt"), a            
leading manufacturer of chemicals and drugs has agreed to continue to           
develop Esterom(R) to meet all FDA requirements, to develop a Drug Master       
File, file all appropriate chemistry and related manufacturing ("CMC")          
documentation with the FDA, and manufacture the bulk drug product for a         
multi-year period.                                                              

As noted earlier, Esterom(R) is made by the hydrolysis of cocaine in            
propylene glycol and water. Cocaine is controlled by the DEA under strict       
importation regulations specified in law.  Stepan Company ("Stepan") is the     
only U.S. company that can legally import coca leaves and process them for      
the extraction of the cocaine base. This base is shipped to Mallinckrodt        
for purification and sale in the medical and scientific markets. Stepan and     
Mallinckrodt work with the DEA to set annual quotas for importing the coca      
leaves related to projected use and sale of the processed cocaine. Because      
of Federal restrictions, Esterom(R) cannot be manufactured outside of the       
United States for sale in the United States. As a result, Mallinckrodt is       
currently the sole source for cocaine and for producing Esterom(R).             

8-K
6th Page of 9
TOC
1st
Previous
Next
Bottom
Just 6th

To date, Mallinckrodt has supplied all of the Company's cocaine for the         
laboratory manufacture of the product for use in research and clinical          
trials, and has been aware of the development of the drug since the IND         
application was filed. In this connection, the Company has entered into a       
ten year manufacturing contract with Mallinckrodt. Mallinckrodt has             
successfully scaled up Esterom(R) from the laboratory to manufacturing          
batch sizes and believes it can increase the coca leaf importation quotas       
to supply the bulk active material as required.                                 

COMMERCIALIZATION STRATEGIES. Entropin(R) intends to aggressively pursue        
strategic alliance and/or joint venture opportunities with large worldwide      
pharmaceutical firms in an effort to maximize the commercialization             
potential of Esterom(R) throughout the world.  In this connection, the          
Company plans to undertake discussions with international FORTUNE 100           
medical and pharmaceutical firms. As a result, the Company is seeking one       
or more commercial partners which can aggressively market and commercialize     
Esterom(R) world wide.                                                          

Specifically, the Company anticipates a substantial financial commitment        
from one or more of the strategic commercial partners.  Also, it is             
projected that there will be ongoing gross profit sharing among the             
corporate alliance partners depending upon the areas of the world that are      
licensed and the partner's respective responsibilities for commercializing      
Esterom(R).  The Company's financial forecasts contemplate the inclusion of     
one or more such strategic partners to assist the Company in its                
commercialization of Esterom(R).                                                

MARKETS FOR ESTEROM(R).  Back pain is the second most frequent reason           
Americans seek medical assistance. Currently, 17.5 million persons in the       
U.S. annually suffer from impaired range-of-motion due to back,  shoulder       
disorders, and other related conditions.  It is quantified that the total       
annualized "cost" of  range-of-motion impairment, including lost industrial     
productivity and direct medical payments, approaches $50 billion in the         
United States alone.                                                            

Of the 17.5 million people currently taking prescription medicines for back     
and shoulder strains and related disorders in the U.S., nearly half, or 8.1     
million, of these people possess conditions which are treatable with            
Esterom(R). Based upon the foregoing, the Company has established a             
commercialization strategy to develop and procure FDA market approval           
quickly and relatively inexpensively. Initially, the focused claim for          
Esterom(R) is expected to include only shoulder disorders and then              
broadened to include back sprains and other related disorders following         
initial FDA approval. In this fashion, the Company expects to aggressively      
commercialize its technology utilizing key strategic partners throughout        
the world.  Throughout the commercial evolution of Esterom(R), the Company      
intends to continuously evaluate joint venture and/or acquisition               
opportunities with third parties with a view to maximize overall                
shareholder value.                                                              

COMPANY MANAGEMENT.  As previously  mentioned, Entropin(R) has used a           
"virtual" company model to minimize its consumption of working capital and      
at the same time has recruited the highest quality personnel without            
increasing its burn rate. This has resulted in an atypically low burn rate      
when compared to traditional bio-pharmaceutical companies.  The advantage       
of utilizing this "virtual" company model includes the employment of a          
small tactical executive team, who are compensated using equity.  In            
addition, this model affords flexibility in corporate decision-making and       
allows for specific expertise to be focused on operating issues on a case-by-   
case basis.  However, the Company intends to transition from this               
outsourcing and "virtual" company model to a permanent operating platform       
next year as it approaches full commercialization of Esterom(R). The goal       
of employing this "virtual" model is to enhance shareholder value.  The         
Company's management includes well known pharmaceutical and industrial          
executives including:                                                           

8-K
7th Page of 9
TOC
1st
Previous
Next
Bottom
Just 7th

Higgins D. Bailey, Ed.D., CHAIRMAN - Former President and CEO of a              
corporation owning a college, hospital, and clinics; President and CEO          
(Interim) Medical University of South Carolina's Pharmaceutical Foundation.     
Donald Hunter, CEO - Former President and COO of Louisiana Power and Light      
and while Senior Vice President of Entergy Corporation consummated a 4          
billion dollar merger of energy companies in southeastern states.               

Daniel L. Azarnoff, M.D., PRESIDENT - Former President of G.D. Searle's         
Research and Development Company and Senior Vice President of Searle.           

Roy S. Azarnoff, Ph.D., COO - Former Director of Office of Research at          
California State University.                                                    

Lois Rezler, Ph.D., VP- SCIENTIFIC AND REGULATORY AFFAIRS - Consultant to       
many FORTUNE 100 pharmaceutical firms and participated in the                   
regulatory/scientific process of over 200 drugs.                                

Wellington A. Ewen, CPA, MBA, CFO - Former senior manager - Coopers &           
Lybrand and Arthur Andersen.                                                    

James E. Wynn, Ph.D., DIRECTOR AND SCIENTIFIC ADVISOR - Co-Inventor of          
Esterom(R), Professor of Pharmaceutical Science and Former Assistant Dean       
of Research of the Medical University of South Carolina, College of Pharmacy    

In addition to an outstanding experienced management team, the Company has      
attracted a world renowned Scientific and Medical Advisory Board ("SMAB")       
of scientists and medical advisors.  Entropin(R) has utilized equity to         
recruit these experts.  The members of SMAB are committed and actively          
involved long term in the development and future success of Esterom(R).         

Arthur H. Hayes, M.D., CHAIRMAN OF SMAB - Former commissioner of FDA and        
Assistant Surgeon General; CEO of E. Merck & Co. subsidiary company.            

Gerhard Levy, Pharm.D., MEMBER - Distinguished Professor Emeritus, School       
of Pharmacy; S.U.N.Y.; member of 15 scientific journal editorial boards.        

Kenneth L. Melmon, M.D., MEMBER - Professor and Associate Dean of the           
Stanford University School of Medicine; member of 12 scientific journal         
editorial boards.                                                               

Lester A. Mitscher, M.D., MEMBER - Distinguished Professor, Department of       
Medicinal Chemistry; University of Kansas; Divisional Chair of the American     
Chemical Society.                                                               

William C. McMaster, Ph.D., MEMBER - Chief, Orthopedic Surgery Department       
at U.C.- Irvine and team physician for the U.S. Olympic Swim Team.              

The Company currently utilizes other outside resources and consultants to       
complement its existing management and scientific/medical advisors.             

FINANCIAL OVERVIEW.  The Company is a development stage bio-pharmaceutical      
company and has not generated any  revenues from operations for the period      
from August 27, 1984 (inception) through December 31, 1998. Entropin(R) has     
devoted substantially all its resources to the procurement of                   

8-K
8th Page of 9
TOC
1st
Previous
Next
Bottom
Just 8th

patents, research and development of Esterom(R), and expenses related to        
the start-up of its commercial business.  Due to this, the Company has been     
unprofitable since inception and expects to incur substantial additional        
operating losses for the next several years, as it increases expenditures       
on research and development and allocates significant and increasing            
resources to clinical testing, marketing and other activities. In 1998 and      
early 1999, Entropin(R) successfully completed private placements of both       
common and preferred stock, preceded by a reverse acquisition, accounted        
for as a recapitalization of Entropin(R), all of which provided working         
capital to fund Entropin(R).                                                    

Entropin(R)'s historical and anticipated future financial performance is        
summarized in the table below.  The revenue forecast is based on analysis       
of shoulder and back ROM disorders in the U.S. and contains what the            
company considers conservative estimates for market penetration, pricing,       
and increase in patient population as well as other assumptions.  For           
additional information concerning these projections, the Company can            
provide detailed assumptions and related financial data upon request.           

                                                        [Enlarge/Download Table]


==================================================================================================================
                                             Entropin(R), Inc.                                                    
                                 Summary of Projected Financial Performance                                       
                                              ($in millions)                                                      
==================================================================================================================
                                                                                                                  
Years                        1999     2000      2001       2002         2003      2004       2005       2006      
(December 31)                                                                                                     
==================================================================================================================
Revenues                     ----     ----     $5.0(1)    $25.9(1)     $65.3     $205.1     $256.0     $310.8     
------------------------------------------------------------------------------------------------------------------
Cost of Producing Revenues   ----     ----     ----        11.2         33.0      103.6      129.0      156.1     
------------------------------------------------------------------------------------------------------------------
Operating Profit             ----     ----      5.0*       14.7         32.3      101.5      127.0      154.2     
------------------------------------------------------------------------------------------------------------------
Research and Development      4.0      1.5      2.0         0.8          1.0        2.2        1.0        1.0     
------------------------------------------------------------------------------------------------------------------
General and                                                                                                       
Administrative(2)             4.9      2.8      2.5         3.3          3.5        4.4        0.8       (3.1)    
------------------------------------------------------------------------------------------------------------------
After Tax Profit             (8.9)    (4.3)     0.5        10.6         17.5       57.0       75.1       93.8     
==================================================================================================================

1.   Includes $5 million in revenue in 2001 and 2002 from a corporate           
alliance partner                                                      
2.   Includes interest income                                                   

For additional information, please contact Entropin(R) at the address           
below:                                                                          

Entropin(R) Inc.        
45-926 Oasis Street       
Indio, California 92201       
Telephone: (760) 775-8333       
Fax: (760) 347-6563       
(ETOP: OTC BB)        

8-K
Last Page of 9
TOC
1st
Previous
Next
Bottom
Just 9th

SIGNATURES          
----------          

Pursuant to the requirements of the Securities Exchange Act of 1934,  
the Registrant has duly caused this Report to be signed on its behalf by        
the undersigned, thereunto duly authorized.                                     

Date: June 21, 1999                ENTROPIN, INC.                               

              By /s/ HIGGINS D. BAILEY
                      ------------------------------
           Higgins D. Bailey
               Chairman of the Board

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This 8-K Filing		Date		First		Last			Other Filings
		12/31/98		2		7			10KSB40
Filed On / Filed As Of / For The Period Ended		6/21/99		1		9
Top									List All Filings