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Microcap & Penny Stocks : Ustman Tech (USTX) formerly Watson Gen (WGEN)
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To: Chris Nevil who wrote (8)6/6/1997 3:48:00 PM
From: arizona_ice_tea   of 73
 
Weakness of the stock ...

I'm following WGEN now for quite a while. I still like the story very
much but there are some details in the last three months I don't
understand.

I was waiting for the second quarter result for many weeks. I was
checking the web-site every day. But there was nothing in there.
Then I discovered by accident the second quarter result in the
SEC Files. Comparing the second quarter with the first quarter and
the same quarter a year ago I was disappointed.

I was very surprised that the stock did move up after latest acquisition. Now, the stock is going down. I think the follow capture
from the "acquistiion press releas" could be the reason:

"Watson General obtained $7'000'000 of financing for the acquisition and working capital from Sagaponak Partners, L.P. a private investment
firm based in San Francisco and New York. Sagaponak provides capital
to companies to expand their business through internal growth for
consolidation in partnership with management. WGEN issued to
Sagaponack a $7'000'000 secured note and shares of common stock
comprising 40 % of the outstanding shares of WGEN."

What is going to happen with WGEN earnings? 40 % more shares outsanding? Or am I wrong

Michael

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