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Technology Stocks : Copytele - Another XEROX in future
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To: Tim Kenney who wrote (799)7/31/1997 11:12:00 PM
From: Waldo   of 1320
 
Tim

Thank you for your report of the annual meeting.

I really did not expect Krusos to talk very much about MAGICOM. I expected him to talk about bigger and better things such as a beautiful high resolution color picture on a flat screen which would be developed in the near future. I suppose that they remained true to tradition and did not show a working model of anything.

As I have said before copy is the nearest thing to perpetual motion we will ever see in this life. I have been following the stock for over ten years and I have many ideas about what is supporting COPY but no firm evidence to support any one reason. The Market Makers have evidently made money judging from the way the stock behaves at times. Some institutions have a nice profit and Charley Maxwell has pushed the stock from the start. Brokers must be doing well pushing the stock. And of course the two men that invented this scheme for financing the company have made a good living selling stock which was obtained at a low price with options that were granted in lieu of salary. I will always believe that at least in the early years the short interest was manipulated to cause periodic squeezes. One thing for sure is that COPY's product is not supporting the market value of the company.

Now COPY may be painting themselves into a corner by emphasizing MAGICOM as their only product.

Waldo
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