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Technology Stocks : CustomTracks Corporation (CUST)
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To: Tom Hua who wrote (1508)7/16/1999 6:20:00 PM
From: JoF  Read Replies (1) of 2514
 
Tom,
I find it interesting, but admit to not knowing how relevant this is, but CUST filed a schedule Pre 14A today. Among the things they are proposing at this Sept 14 meeting is to change the name to ZitIt Corp and increase the shares from the current 30 million to 170 million, among other things.

Seems to me, for a company that has said it doesn't need to raise any more money,(heard that Cook said that during the tour), that the increase of 140 million shares may be indicating something else. Exactly what I will leave to the experts to debate but I would think this would cause a considerable amount of dilution per share.

He must be thinking they are going to have to generate quite a little bit of cash to put their dreams into reality.

Also the total volume of shares traded today on this POS was only 418,200 which is 100,000 down from their slowest day last week. I don't think the MM were as impressed with the tour & proposed products as were the Cook followers.
I wish no one ill will. I would like us all to make money. I don't know if this is a viable company with a great product but the only thing I have seen adds up to the fact that they have a nice facility and Cook is a nice guy that wears jeans & jogging shoes! Oh, and a loyal following that believes him when he says, "if I don't have alliances by the first of the year, sell your stock."
That would do little to console me if I was long this stock & had bought in when it was at its highs. There are just too many "IF's" for me!
Jo
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