Hello Imran:
>>Took a look at the company site and whatever info I could find in your posts and the pressreleases. I am quite impressed with the people on the Board, especially the director who used to be with Gemcom's competition. Also, with the appointing of the "venture capitalist for high-tech firms"to the Board, I was further impressed. However, I would like to know the debt situation of this company<<
There is no debt. The company issued 2.5 million shares to the public at $1 per share in spring of 1997. They still have $2 million in cash as at Dec 31/97 (see their 3 qtr report).
>> Also, what do you think of the stock price being close to it's 52-week high? Do you think the stock will pull back a bit, recovering from the obvious hype and attention it got from the FP article?<<
The stock may pull back a bit in the near future, but it's hard to say. After I read the FP article, and did some due diligence by reading the press releases and the financial statements, I like the situation, and bought 1,000 at 95 cents. IMO, this isn't a speculative stock the likes of other stocks where it depends on whether there is gold or no gold, or whether there is a valid claim or not (Crystallex), or whether the Mexican sales will materialize (Alternative Fuel System). I bought GCM with the view that I'm buying a small business (that optimistically will grow into a large business in the future) at the same price as options exercisable price of insiders. The business has real products, real customers, real sales, and what appears to be competent management who hold sizeable shares of the company and has a real stake when the stock price go up. I'm taking a much longer term view on this holding, as if, I'm a small business owner. Only thing, don't have to work... just put money down and let others do the real work<g>
>> you know of the short position on GCM?<<
Don't think there are any shorts... too small a float... however will check this somehow. Do you or anyone know whether there is a way of checking short position on the internet?
TTYL,
Denise |
