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Microcap & Penny Stocks : USTI UNITED SYSTEMS TECH INC
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To: Mel Fox who wrote (971)6/19/2000 2:09:00 PM
From: Walter Morton   of 1001
 
USTI's cash level isn't as good as they make it seem. At end of 1999 it looked like USTI had increased its cash by over 90%. Well it looks so good because USTI did not pay all of its obligations. USTI was late paying over $570,000 in preferred stock dividends. If USTI had made that payment on time, USTI would have been left with about 25% LESS cash than it had in the previous year.

Source: USTI's 1999 Annual Report
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