MMI.V
Kaiser letter:
Copyright 2000 John A Kaiser
June 12, 2000
Meteor Technologies Inc (MMI-V: $1.11)
Tel #: (604) 682-7076
Web Site: www.meteortechnologies.com
Sneak preview to trigger blastoff?
Bottom-fishers, if you have been waiting for Meteor Technologies Inc
(MMI-V: $1.11) to get cheaper, you had better pray that the sneak preview
of the Thoughtshare product on Monday morning (June 12) is bedeviled with
glitches. Following the 10:00 AM special meeting for Meteor's "change of
business" at the Xchange Conference Centre, Meteor management will walk
over to the Plaza West Ballroom of the Hyatt Regency Hotel in Vancouver
(2nd floor 655 Burrard) to demonstrate the Thoughtshare product in action.
The demonstration at 11:00 AM will not involve a live Internet connection,
so the chances of a disaster are substantially less than 100%. By "not
live" I mean that the content accessed by Thoughtmaps will reside on a
server at the show, not on somebody else's server accessible only via the
Internet. The sneak preview is designed to demonstrate what the product
does, not prove how well it deals with the complexity and vagaries of the
Internet. Don't expect Meteor to demonstrate the latter until Thoughtshare
has been through the beta test stage.
At least a hundred Meteor shareholders have indicated they plan to attend,
and more are likely to show up unannounced. The sneak preview is open to
everybody; attend it if you can. This marks the first time that the general
public will have an opportunity to view a version of Thoughtshare that is
close to the version that will be made available for beta testing in July.
See it for yourself and then reread the stuff I have written about the
product's applications.
Last week I was in Vancouver to see a demonstration of the product. What I
saw was not perfect, but it was a substantial and impressive improvement
from the proof of concept prototype I observed last October. This product
is going to blow the competition away! When I say "not perfect" it is
because the core technology is so rich with possibilities that anybody who
sees Thoughtshare in action is bound to dream up a unique feature or
application not yet embedded in the product or even contemplated by the
Thoughtshare developers. It is my impression that the only obstacle to
fulfilling this growing wish list is that you cannot develop everything at
once.
>From 11:00 AM onwards if not earlier, we can expect Meteor's market to
become very volatile as investors at the sneak preview make their cell
phones pay for themselves. A trading halt by the CDNX is almost inevitable.
I cannot predict how investors will react who are relatively new to the
Internet or who have had trouble grasping why I would dare suggest that
Meteor is the only technology stock they need to own. During the past week
the Thoughtshare/Meteor team has put tremendous effort into creating a
presentation that opens eyes wide instead of glazing them. Private
demonstrations in the past have suffered because they have been oriented
towards tekkies who zip right past the cosmetics of the interface into the
conceptual guts of the product. That is the main reason why the Meteor
market has split between those who "get it" and those who don't but own the
stock anyhow. The gap between the tekkies and everyday Internet users is
narrowing. Even Meteor's hypercritical president, Fred Fabro, has been
unable to sustain his customary cautiousness.
The sneak preview on June 12 after the special meeting that approves
Meteor's acquisition of a 50.3% stake in Thoughtshare Communications Inc
and the mechanism whereby Meteor will acquire 100% of Thoughtshare will
launch the next speculation wave for Meteor. The stock's chart has a
pennant pattern which Friday's market action suggests is poised for a
breakout on the upside. Thoughtshare believes it will be ready to release a
commercial version 1.0 by September. Between now and then bottom-fishers
can expect Meteor stock to move up sharply into the $1.50-$3.00 range where
it will thrash around as the market digests beta test feedback and some of
the cheap paper from last December's $0.15 private placement. The stock
will not be ready for a big move into new territory until the fourth
quarter when the public starts downloading the free "client" Thoughtshare
product and the technology media reviews it. For those bottom-fishers who
have researched the Thoughtshare story and are convinced its technology
will be a huge Internet success, your reward will present itself in 2001 as
Thoughtshare starts to forge alliances with big Internet names. In the near
term brace yourself for a battle between the bears and the bulls. The
liquidity of Meteor's market, the open-ended upside of its story, and the
reality that you cannot get from A to B in one shot will turn this stock
into a trader's delight. I have lots more to say about Meteor and
Thoughtshare, but I will save that for later after the change of business
has been approved.
*John Kaiser more than 50,000 shares of Meteor
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