Proteon Message Board - Msg: 1423171

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Technology Stocks : Proteon

PTON 7.660

+14.2%

Nov 7 3:59 PM EST

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To: Webb B Blackman Jr who wrote (248)	5/17/1997 12:20:00 AM
From: Jim Malone	of 512

I have followed this company for almost one year now and have been a stockholder for 6 months, the stock price fluctuated upward to the 2.875 level this week and now today fell back down to the 2.125 level, I don't think this means anything negative, just traders. I remain positive on the outlook here for several reasons: 1. Restructuring that took place in January has reduced break even point to around 9.5 million in revenue per quarter. 2. Good balance sheet, not a lot of paper only 15.5 million shares outstanding, 20 million in cash, no debt. 3. Several new products have been added to the product line in the last six months 4. In taking a close look at the results from the first quarter I find that the software licensing revenue dropped which was expected since these licensing aggreements were maturing, but the company did increase product revenue over the previous quarter and made up for the licensing revenue. Product revenue increased last quarter and chances are with continued new products having come to market product revenue will increase this quarter. In my opinion there is a very good chance that product revenue will go up based upon the number of new products introduced lately and the continued growth rate for remote access products. OpenROUTE will sell some of the new products and with the break even point significantly reduced because of the restructuring and a pretty good balance sheet this company does not have the financial drag of other small players in this market segment like Gandalf. What happened to the stock price this week does not bother me at all. Since there was no negative news behind any of the movement the story remains the same. I don't think the company will go out of business this month nor next, there is no extreme financial pressure on this company after the restructuring, OpenROUTE is positioned for profitability.

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