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Technology Stocks : CustomTracks Corporation (CUST)
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To: sargent who wrote (717)6/10/1999 7:42:00 AM
From: Rajiv  Read Replies (2) of 2514
 
How do you know that the technology CUST is developing hasn't been in the works for much longer than everyone thinks and, recently, after realizing that they had something great with their transaction technology, coupled with the fact the music portion of their business did not hold as much potential as this transaction technology, they decided to scrap everything to focus on this new breakthrough product?


CUST took over a small start-up company (owned by David Cook) which was working on the customized CD stuff. This company was not working on the internet trust/DSS stuff as once the internet music project was dropped, payments to David Cook for the purchase of the company were also stopped. This is a clear indication that this company's technology and patent was no longer of monetary significance. Otherwise David Cook would have insisted on the remaining payments. The title of the patent was also transferred back to Cook - another sign that the tech was no longer useful. CUST has only retained a license just in case they re-incarnate themselves back to the internet- music business

If CUST would have been working on the internet secure transcations and the DSS stuff from before, evidence would have shown up in the 10-Qs. You draw a blank on examining the P/l statements, cash flow, balance sheet, etc.

They did not start working on this project before the start of the year. And till March end, they spent around (probably less) 2 MM. The net value of their property and equipment (as of March 31) is around 1 MM.

Regards.
Rajiv
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