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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: Thomas DeGagne who wrote (1192)6/19/2000 2:38:00 PM
From: Doug   of 1571
 
T.D: GEAC's buisness model is based on growth by acquistion using the Purchase method of accounting. The purchased assets are being depreciated on a 10 yr basis. In reality they are loosing value near zero in 3 yrs since software gets outdated /obsolete that soon. To be successful, the Company must generate a much higher cash flow rate.

Cash flow valuation is meaningful when your reserves or assets are not losing value. In GEAC's case they are and therefore the slide in the stock price.

The Mgmt seem determined to disregard the message of the street.
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