NEWS UPDATE: Hough Out? ADCM? JOHNSON?
Well sort of the latest news update ...
ADCM First:
Street news indicates that INTEK/ROAMER will purchase AMERICAN DIGITAL COMMUNICATIONS, Inc.'s 23 MHz sites.
ADCM states at its website - adcm.com - that it *...has an agreement with a third party which includes an option to acquire the Company's constructed 220 MHz installations for up to $200,000 per site ($4,600,000 - 23 systems potentially) plus $500 per radio located per respective site ....*
Furthermore, ADCM states in its *PLANS & STRATEGIES* that its first strategic stage is to: *... Liquidate ADC, Inc.'s twenty-three constructed 220 MHz sites, which should render the Company debt free with approximately $2.0 - $2.5 million in cash equivalent assets....*
EF JOHNSON:
Also on the street is news that for some of INTEK's stockholders the Company is simply not moving fast enough with its purported purchase of EF JOHNSON (a company that supposedly *wants* to be purchased!!).
FAILURE for the consummation of this acquisition is attributed to INTEK's CEO, Dr. EDMUND HOUGH's inability to *forward-move synergistically* (whew!) on behalf of the company's best interests ... for whatever reason (Perhaps he's more of an artsy time, than a negotiatiating get-goer). JUST LAST WEEK, several concerned STOCKHOLDERS and their representative(s) advised SECURICOR (owner of ... oh ... maybe 67% of INTEK's stock) of their collective concern ... requesting (1) that perhaps a CHANGE AT THE HELM of INTEK is appropriate, and (2) that Securicor be mindful that it should not treat INTEK as though it were a *subsidiary* of Securircor. Rather, the request was that Securircor recognize that INTEK is an entity unto itself, duly traded in public; and that there is a responsbility to all shareholders alike to forward move the company.
INSOFAR as Securicor is the major stockholder, its clout is indisputable.
HUNCH: My hunch is that INTEK and SECURICOR will have an epiphany of sorts ... and get their arses in gear and ON TRACK.
LEHMAN BROS. of course is still in the picture ... and hoepfully will contribute as a catalyst to the forward movement.
TO BOOT: the FCC just recently (February) 1997 promulgated new regulations/orders wih regard to the 200 to 220 MHz Industry with proposals to market licenses throughout the USA. INTEK will be a major player ... assuming that the proper shifts of management occur ... or, in lieu thereof, that current management kicks itself in gear and FOCUS.
On FRIDAY, APRIL 11, 1997, over 130,000 shares of IDCC traded hands ... at roughly $1.50 to $1.85 per share. THAT'S INCREDIBLY CHEAP!!!!
I would guess that a number of these shares were from ... oh ... where? (1) former IDCC Officers and Directors who optioned at pennies and sold for more ... or (2) persons who, on the representations of their stockbrokers, bought when the stock was going up from, say, $4 to $6+ on the assumption that the entree of LEHMAN would assure value appreciation ... and now are disgusted with those same brokers, have switched brokers, and their new brokers have new agendas to push.
GREAT!!!!! What a buying opportunity!!! .... IMHO.
Good Investing To You All!!!
Meadows |
