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Microcap & Penny Stocks : Pacific Diagnostic Technologies (PDTK)
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To: Big Smitty who wrote (169)7/11/1997 3:09:00 PM
From: baystock   of 262
 
In the case of DMED it is true. But more importantly if one is talking about bankruptcy is the balance sheet. PDTK has no financials. When the bid was at 4 cents, the market cap was $240,000 (assuming 6 million shares). Debt is $4million+ and yearly salaries alone are more than the market cap. No matter how much you like the idea of their business its only a pipe dream if the company doesn't have the money or the ability to raise the money to pursue the business. Every month that goes by the company is burning more cash that it doesn't have. I believe that there is a possibility that this company will go out of business. But a more real problem is that since management owns only a small piece of this company that they will dilute the heck out of this company to get out of their financial mess. Of course managment will take care of themselves so that no matter what happens they come out okay. But the current common share holders will get screwed.
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