Medical Industries Of America, MIOA Message Board

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Biotech / Medical : Medical Industries Of America, MIOA

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To: Mr. Miller who wrote (252)	8/16/1997 7:35:00 PM
From: Jones	of 570

Mr. Miller, while I do still hold a small number of Mioa shares, I have concentrated much of my time to daytrading and less time investigating long term holds thoroughly. I read all of the posts here, and am still quite amazed of the progress this company has made. Watching a company grow from scratch is extremely exciting. I'm gonna try to make this nice and simple as to why I think the stock price is not above 3 dollars. You probably already know all of this stuff, but I'll type it anyway. Stocks go up because of earnings. The quarter before last showed a profit of .26 per share. Sounds good. However, there were only about 300K in net earnings. These earnings were for the most part manufactued and had no real substance. This past quarter showed earinings of .10, much of which had substance. I don't think this stock is undervalued. I think it's right where it should be for the time being. If managements projections are on target and if the co. becomes "profitable" this thing could take the ride up bigtime. The balance sheet and financing for this co. stills looks gross to say the least, but it's quite obvious they are turning things around. A commitment to shareholders not to dilute was a great first step. They seem to be hiring some pretty qualified people and are commited to expanding there business. Mioa should prove to be a good long term hold if you are willing to wait the year and a half or so to watch it grow. The shorts are gone...this company needs long term believers.....where are my dividends from the company that mioa promised me on 3 press releases? Not a good sign. Mioa, like many microcaps is a "gamblers" stock. Us investors know only what the company tells us through pr's and phone calls. Every company will tell you that everythings great, the other part, we don't know. If anyone here is looking to buy "more" Mioa stock because they feel it is undervalued....Buy on the way up. Don't risk getting burned...Buy when other investors want it. From a technical standpoint - Mioa is building very strong support at 1 3/4 and major restance at 2.25. Good luck. I will only be posting on the weekends from now on as I will be off to college next week. I wish I would have found ABTX a little sooner - an interesting company to say the least. Jones

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