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Technology Stocks : Cognitronics (AMEX: CGN)
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To: JakeStraw who wrote (5)5/1/1997 11:23:00 AM
From: Neil Kalton   of 142
 
j garcia,
Had some time this morning and called my broker. He sounded pretty optimistic about the near-term prospects. He said that he had been unable to get in touch with the company because they have simply been too busy. Summary of his points:

1. Did not know too much about the technology but it was his understanding that CGN had the best technology in its field.

2. Highly cyclical industry which appears to be on an upswing as major telephone companies are starting to upgrade their systems. He said that CGN has dealt with in the past or is dealing with currently such domestic heavyweights as GTE, Northern Telecom, Ameritech, Bell South. Apparently the million dollar deal came from Northern American Telephone Co.

3. Balance sheet looked solid. Had positive comments about the CFO (I believe).

4. Very underfollowed stock, only 12% institutional holding. But he said that the institutions appear to be coming in (mentioned the 10,000 share trade at the opening today as probably being an institution purchase).

5. In 1992 when the company did $19 million in sales the share price reached $18. Company is well on track to exceed $19 million. As for share price he mentioned that you never really can tell with these AMEX stocks how high they may go but he thought $8-10/share was quite possible in the near future. He was real pleased with the last earnings report.

Hope this is informative,
-nk
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