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Microcap & Penny Stocks : ABTX +600% Sales growth Agrobiotech
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To: andy davenport who wrote (92)2/27/1997 11:05:00 AM
From: Richard Richardson   of 119
 
I don't know about the possible price drop when ABTX moves to main NASDAQ market. As far as the possible Achilles heal of ABTX, it is hard for me to find a glaring one. Kathy Gillespie said to me that the company would be a viable, profitable company without any further acquisitions if the corporate overhead was reduced. The corporate overhead, of course, is large now in anticipation of further acquisitions. I think Johnny Thomas really understands the bottom line of this industry and is growing ABTX according to plan and he seems to be uncannily accurate in his predictions of ABTX growth. One item which became much more clear after explained by Dr. Thomas is the ability to grow revenues by being a distribution network. Monsanto, for example, develops many proprietary seeds but lacks the distribution network and therefore requires a company like ABTX with its established distibution network. ABTX will make a lot of money by gradually switching its current acquisitions from selling common seed varieties to the higher-priced proprietary seeds of a Monsanto for example. ABTX will of course continue research on forage and turf seeds to develop proprietary seeds of its own to sell. But an established network of distribution is very valuable for ABTX. Other points of interest from the meeting: Fred Clark (who sold Clarks Seeds to ABTX) is continuing to accumulate ABTX shares rather than accept cash. This would seem to be very bullish since such an individual would seemingly know better than most whether ABTX can execute its business plan. Johnny Thomas also buys shares at each offering and now has 1.1 million shares.
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