T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: knight who wrote (103)	2/28/1999 3:44:00 PM
From: keith massey	of 5053

Now for the good news. Most of the reports from news letter that I have read (Kaiser, Bunka, Fagan) have put the cash value at $19-20 million. (For example, from Kaiser 1998 bottom fishing... Jordex is widely held and cash rich, with $19.7-million in its treasury However on Sept 30 JDX had $21,175,000 cash. If they have continued with interest income and the burn rate they had in the last two quarters they should have around $22-22.5 million in cash right now. Add to this the recent $700,000 from the private placements and you have a company sitting on around $23 million in cash (.74-.76/share) with no debt. This is $4 million more that a large number of investors believe they currently have. Hopefully in the news release coming next week about the closing of private placement they give some other information (e.g cash on hand, they are looking for tech. ventures, etc. etc.) We had a triple top at .55 during the past 6 months. In addition, the first pull back after the run-up to .72 went to .56 and then bounced. According to the basic rules of support and resistance, .55-56 should be a powerful support level for JDX. We are going to need some news or some good promotion to get this stock rolling. I am willing to sit and wait on this stock. At least I know the downside is fairly minimal at this point. Best Regards KEITH

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