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Technology Stocks : GALTECH SEMICONDUCTOR MATERIALS CORP. (GTSM)
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To: gammaray who wrote (303)5/13/2002 11:19:36 AM
From: Mahatmabenfoo  Read Replies (1) of 394
 
You're in fantasy land, Gamma.

Saying that "Pratt squandered" anything is unfounded and slanderous -- the public (and only reason) we know Pratt resigned is because there wasn't enough money for R&D. Check the SEC statements at the time for that.

Saying $91k was spent on R&D doesn't mean anything -- not in an SEC statement that says the company doesn't have enough money for R&D and also that it has enough money for R&D and that has a history of plain lying. This is a company that until recently didn't have a single full time employee -- everyone had "day jobs". Now it claims to have a single full time employee.

Before Pratt got kicked out, the company had free rent. Now it pays at least (so GTSM says) $1,000 a month in rent. Now it supposedly has a full time employee. That $94k in "research" was a single employee sitting in the rented room figuring out new ways to fool you.

Do you buy into the myth that this company had real operations during 1984 to 1900 when this company supposedly had real operations? That includes the period starting 1987 when Allred (the now 76 year old tech guy) claimed the "maybe biggest breakthrough in the history of semiconductors".

But the SEC statements say that GTSM's TOTAL REVENUE in its ENTIRE HISTORY (1984 until today) is a gross of $600k -- on which it LOST 10's of thousands on materials alone. Not impressive in a company that claims it can sell its boules at $500k -- it looks like it made a single sale AT A LOSS so it can claim it once had operations.

And to you based on your quote, probably fed to you from Norm of RB himself is this is "real progress".

clap your hands real hard and say "I DO believe in tinkerbell I DO believe in tinkerbell" and maybe "real progress" will be true too.

- Charles
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