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Technology Stocks : TRTC - All the Characteristics of a Winner
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To: stockvalinvestor who wrote (26)10/5/1997 4:57:00 PM
From: jtfax   of 105
 
Clarification!!!

To both Steven Adnan, Kenneth Weiss and interested parties:

I believe there needs to be some clarification on this stock. The person who handles investor inquiries is Dale Cheesman, he has been with the company for nearly ten years acting as corporate controller and would never discuss growth rates that kenneth Weiss mentioned. Kenneth Weiss, either spoke to a different company, was guilty of wishful thinking or lied.

The company has had the same auditors (Deloitte & Touche) since the company's IPO through Bear Stearns in 1986. The company's financials, which are available on EDGAR (www.sec.gov) are extrmely detalied and well prepared.

With respect to Fri. press release if you read the full text one can surmise a few things: 1) there will be a cost of financing the growth of Universal (i.e. additional equity being raised 2) nothwithstanding the additional equity the company's EPS for fiscal 1998 (ends 6/98) will still be in line with fiscal 1997 (ie. .77 pre-split or .52 post-split 3) If Universal will not contribute to EPS unitl fiscal 1999 (begins 7/98) the other lines of business are likely growing nicley. In other words, net income in absolute dollar terms should rise to counter balance the increased shares outstanding.

It would make sense that TRTC would want to raise additional equity for a few reasons 1) limited shares outstanding (1.9 mill postsplit is still too smalll for institutions to take big positions 2) Most of the Co. profits the past years has been from overseeas. The cash overseas is likely targeted for expansion in the fareast and moreover there would likely be negative tax consequences if the cash were used in the U.S.

In conclusion, this Co. is an old style value play (relative to its peers) with solid growth prospects and conservative management. Speculators and manipulators should look elsewhere.

Instead of taking everything on these posts literally, do your own homework. Call the company (818) 365-9200 or go to the annual meeting being held in Los Angeles in early December.

Also, Bloomberg has some addtional press releases and info regarding insider buying as well as positive comments regarding anticipated first quarter fiscal 1998 earnings. (ended 9/97 and pre-Universal acquisition)
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