CNXX Centraxx anti-auto theft systems Message Board

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Technology Stocks : CNXX Centraxx anti-auto theft systems

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To: Veritas who wrote (14)	7/30/1999 11:44:00 PM
From: Nykol	Read Replies (1) of 82

I picked up the story on this company from the Investors Digest, e-mailed the company and received an information package VERY promptly - these folks are anxious to get their story out - and what a market they have available to them ! If these folks can put it all together in a timely way, the sky is the limit - in my opinion, subject to a couple of big qualifiers. 1) Information package (perhaps with good reason) doesn't provide specifics in terms of how large an area one of their "network stations" (assuming this is the gadget sit on top of a pole and receiving signals) will cover ; in other words, how many of these would it take to cover say the city of Los Angeles or San Francisco ? Nor do they say how expensive these gadgets are. I was interested in knowing how large the cap ex would need to be to cover a large city. 2) They do say that a backer has provided $2.3 million so far, and an additional $2 million has been committed to fund operations over the near term. "To facilitate further network buildout, working capital will be raised through private and public financing in the intermediate term". I was puzzled by the "further buildout" as everything else in the info seems to indicate there is no network at present. 3) While I really like the technology and its potential, my experience with companies moving from R&D to operational tells me this is not a slam dunk by any means - the capital expenditures have to be incurred before they can start selling their product and monitoring service. On the other hand, consider that if they only are able to sell to 1% of vehicle owners in North America, what their sales might be ? The info package does project sales of $60 million and $97 million in 2001 and 2002 respectively, with EBITDA of 13.1 and 37.1 million. I recommend requesting their package, which also includes copies of some of the above mentioned research reports. Happy Centraxxing !

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