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Gold/Mining/Energy : Gimbel Vision International Inc. (GBV - ASE)

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To: Cal Gary who wrote (129)8/9/1999 12:41:00 PM
From: Glen Gordon  Read Replies (1) of 165
 
Comments:

1) They did a good job of getting the results out early.
2) Continue to restate revenues from year earlier.
3) By the looks of it, they didn't lower there Doctor's fees by the same percentage that they reduced the procedure fee (i.e. reduced margin)
4) Wishy washy on the opening of new clinics - we've heard "We're trying" a little too often for my liking.
5) The business is viable - even at the current level of competition. LSK won't be able to say the same.
6) Earnings per $revenue at 4 cents (in line with previous Q2). Revs per procedure at $904 - down slightly from previous quarter.

Bottom Line is that with 3-5 new clinics this year, the stock is a bargain. Conversely, without any new clinics this year - it's not worth $1.50. That is the only unknown at this point. If they don't announce something soon - investors will give up on this "company" because without growth, they won't make anymore than 5 cents a year.

Stock will drop in the short term - and that is a shame, because with good management she could be flying!
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