Still Heroes Among Us

Recently there was a cover story in Newsweek Magazine, entitled Hero M.D., The Amazing Story of the Wars Most Fearless Doctor. It chronicled events on the front lines of Fallujah in which a young Navy doctor, Richard Jadick, saved numerous lives for the First Battalion, Eight Marine Regiment (the “1/8”) in Iraq. As a 38 year old “Gentleman’s Urologists” with a nine-month pregnant wife, Commander Jadick surprisingly responded to a Medical Committee’s call due to an acute shortage of doctors. Fallujah, a city in the Sunni territory west of Baghdad, was filled with insurgents and was home to the bloodiest battles of the Iraqi War to date. As a critical trauma surgeon, the wounded he eventually treated saw injuries that could kill a man in between three and fifteen minutes. Thus, with helicopter evacuation out of the question, Jadick was stationed right on the front line. The article journals, in devastatingly horrific manner, the scenes in which soldiers were either saved, maimed or died in his arms. Marine after Marine with excruciating injuries were brought to him as he would be covered in blood treating gruesome gun and mortar wounds. He provided great emotional comfort and treated each man “like his brother”. Even as he was interviewed for the story two years later, as he recounted certain events he would pause and weep quietly to the interviewer. As the wounded were increasingly ripped apart by booby traps and suicide bombers, Jadick built a morgue so that the remaining corpsman would not have to “see the shattered bodies piling up.” His Commanding Officer stated, “I have never seen a doctor display the type of coverage and bravery that Rick did during Fallujah”.

“Being a battalion surgeon is one of the greatest jobs there is, so sure, I will do it again, yeah.”
- Commander Dr. Richard Jadick

In the winter quarter of 2006 many of our prior portfolio clients achieved great heights. Cambridge Heart, Inc. (“CAMH”), a Company we met three - four years ago, received Medical Insurance Reimbursement Approval on its Microvolt T-Wave Alternans Testing. The stock quintupled on tens of millions of shares. We congratulate our friend and client David Chazaonovitz, CEO of CAMH and of course our Senior Advisor Stanley Wunderlich whose firm represents them for PR/IR; China Biopharmaceuticals Holdings, Inc. (“CHBP”) closed on approximately $7M in a third round of financing. v-Finance, Inc out of New York City led the transaction. Our kudos to Jonathan Rich of v-Finance, Inc. Finally, Syuntra, Inc. (“SYUT”) hit a high of $5.50, up 500% from where our clients invested less than nine months ago.

"It is possible to fail in many ways, while to succeed is possible only in one way.”

- Aristotle

We are pleased to welcome to Wellfleet Partners, Inc. Corporate Consulting and/or banking clientele’s list the following new members: 1st Unity Financial & Development Trade, Inc. (Budapest, Hungry); Cyberlux, Inc. “CYLX”, (Durham, North Carolina); Navstar Holdings, Inc. “NVMH” (Beijing, China); All American Pet Company, Inc. (Los Angles, CA); Trust One Payment Services (Memphis, TN); StrikeForce Technology, Inc. “SKTF” (Edison, NJ);  American Desi, LLC (Edison, NJ) and KoolConnect Technologies, Inc. (Needham, MA). Over the past quarter, we closed the following private transactions: a second tranche of financing for Phase III Medical, Inc; a Private Placement together with v-Finance for Navstar Holdings, Inc; a Private Placement for 360 Global Wines, Inc. (“TWIX”) and a Private Placement for All American Pet Company, Inc. (Press Releases available upon request).

"The toughest thing about success is that you’ve got to keep on being a success”
- Irving Berlin

It’s not by coincidence that today, April 1st marks two important occasions in this author’s life. First, it would have been my blessed fathers’ 87th birthday. He is gone 12 years now and we at WP still feel his presence everywhere; and Second, today also marks WP’s 8th year birthday. I would like to acknowledge and thank in particular the efforts of our Office Manager, Marissa McKelvey. Her tireless efforts on our behalf are greatly appreciated.

Happiness is a direction, not a place”
- Sydney J. Harris

Finally, we are pleased to inform you that on May 1st, 2006 we will be moving to a new suite. Please note accordingly our new suite number 2411. Have an enjoyable Spring.

We are what we repeatedly do. Excellence is not an act but a habit”
- Aristotle

WELLFLEET PARTNERS

Note: This report was produced by Wellfleet Partners, Inc. (“WPs”) from various public research sources, for the sole purpose of general information. WP makes no warranties to its factual content and is not a brokerage firm, registered Investment Advisor nor securities dealer; therefore, nothing contained in this report shall constitute an offer to sell, solicit or buy any securities or investment advice. Investment in these securities mentioned here involves risk and should not be considered without first reading the target Company’s most recent financial statements, 10Q and 10K, its Private Placement, Offering Memorandum or Business Plan, if applicable, and discussing the investment with your registered representative or professional financial advisor. Venture capital and investment in the market is inherently extremely risky. Mr. Lev, the author of this newsletter as well as other members of WPs and SR, are registered representatives of WestPark Capital, Inc. an NASD member broker-dealer headquartered in Los Angeles, California.


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