CPTX - COMPTRONIX CORP Message Board

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Technology Stocks : CPTX - COMPTRONIX CORP

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To: Lazarus who wrote (36)	10/27/1999 3:47:00 AM
From: Puck	of 51

CPTX is just a shell company. It was once a co. located in Guntersville, AL that manufactured printed circuit boards. It was founded in the early 1980's by a group of former SCI Systems exec's. A terrible accounting scandal was discovered in 1993. I bought some shares in its wake guessing that the co. could be turned around. It almost happened but CPTX proved to have too small of an asset base to weather the volatility of the industry--order were often pushed back, forward, or changed in side by their customers. One quarter several major orders were pushed back into the next quarter by several of their major customers, forcing the co. into default. Their creditors wouldn't grant them any leeway so they declared bankruptcy, paying off their bank creditors dollar for dollar and their secured debenture holders $.60 on the dollar. If they had been able to survive that quarter, they may well have lived to prosper. Their assets were sold off to SANM at half of cost, which was a great bargain for SANM, and their old plant is thriving I have heard. Last winter Ramsay Hughes and Associates (Cincinatti merchant bank) begain accumulating shares for a rumored reverse merger--check the Yahoo "Insider" link for the stock and see for yourself. Then in may the stock rose wildly as a result of a well conceived rumor. There is a Houston or Dallas (somewhere in TX) based computer retailer and some posters on the Raging Bull CPTX thread appear to have started a rumor that CPTX was the stock for this thriving co. which is really private. This caused a speculative bubble in the stock which lasted a couple weeks until the people who bought the stock realized that the stock and co. really weren't related. Check out the RB thread to see how this powerfully effective rumor got started and how it ended if you like. Old Comptronix management has moved on to unknown places and has nothing to do with the stock. A year and a half ago, I called their former Chairman to ask why the stock still traded. He responded by saying that he was wondering the same thing and guessed that "the lawyers hadn't quite finished up their work." There's nothing here except that Ramsay Hughes owns enough of it to have to file about their ownership now.

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