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Microcap & Penny Stocks : NVID International
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To: J. Tevis Morrow who wrote (395)12/9/1996 5:15:00 PM
From: Gerald Merna   of 3244
 
I spoke to Bob Bunte late this afternoon. He claims, rather adamantly, that this post by Derek Allen is seriously in error. He said it is a flat out lie that Arata is a convicted felon. Said Arata is a former Recon Marine who has never been convicted of anything and that he suspects a particular Chicago competitor of trying to undermine the company.

I raised several issues with him. I asked him to directly address the issue of FY1996 revenues. His guesstimate at this point is about 600k in sales with the possibility of more if contracts are signed before the new year. Says last Decembers estimate of 3.1 million in revs. for 1996 were based on certain financing coming through which they did not get. Mr. Bunte claims that 1997 is the year that NVID will explode with revenues. Claims they have completely revamped all Aqua Bio systems to the "3rd generation".

I told Mr. Bunte that he left himself and the shareholders vulnerable to skeptism about the company because of the vagueness of his press releases. He says that they will be vigorously addressing each issue raised in Derek Allens post, one by one, over the next several days and that new press releases will have more detail in them.

I am going to reserve judgement on the company until I review their response to this crisis. I felt last night that it would be a mistake to sell into a panic at the open this morning and believe the action in the market for NVID today validates that. No one can really tell you what to do at this point. Evaluate everything, especially the company response and then make your decision. As I have learned in the past and observed again this morning, panic does not lend itself to profitable actions.

Jerry
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