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Biotech / Medical : Medical Industries Of America, MIOA
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To: CO who wrote (160)5/13/1997 8:01:00 PM
From: Jones   of 570
 
Thanks for your insight Cheryl. What we are seeing in this stock is a tremendous short position in this stock which is keeping it down. Once this company gets rid of this short position, watch out. I mean watch out.

Earnings came in at .26 (.05 cent loss from discontinued operations). From what the conference call stated, revenues are projected to double - this somewhat makes up for 2.5 million shares that were freely given. The press release yesterday stated 7 million in revenues expected. 4.5 million shares is still an extremely low float.

Recently on earnings day this stock hit 3.06 in early session trading. We were projecting to see 4 or 5 dollars that day, except a major investor dumped a 300,000 share block in increments. Small investors panicked because of it, and the stock never took off.

I have been told that an investor has agreed to buy 500,000 shares at the ask. I don't know when or how much at one time this investor plans on doing so.

I recently contacted their PR firm and he told me that this stock is rediculously undervalued. He thinks it should be around 12 dollars a share.

Lots of investors totally got screwed on this stock which is why some institutions will be certain when making a decision with this company.

I follow a lot of small caps and I think that this is an excellent turnaround situation.

Look at the graphs and charts on this company and look how fast the stock price and go up and down. At this level there is no where to go but up.

This stock may hover around 2.5 for another month or so, but when it starts to move, watch out.
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