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Microcap & Penny Stocks : JTS- "A Nordic Drive in Every PC and laptop"
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To: ExtraBases who wrote (1281)9/18/1997 4:35:00 AM
From: novice investor   of 1985
 
Hi,

I too am holding JTS and I too am hoping for a better future. However, all of the events during last 4 months indicate very familiar pattern.

1) In late May, the CFO resigned while JTS was going through financial woes.
2) Financial report was released in mid-June with some bad news; since it was only 2 weeks after CFO departure, the report must have been the very last work done by departing CFO.
3) While stock slides, company makes some attempts to raise cash. Attempts to get new CFO from outside fails.
4) In July, suddenly brokers starts to aggressively push the stock to public, starting heavy trade activities with many new small investors coming in.
5) During August, consecutive very heavy volume trading days occur with clear and definitely consistent pattern of ALL large blocks (>100000) traded at the BID price. ALL OF THEM. There were absolutely no exception to this pattern, indicating that major holders are selling into small investors.
6) News dies down and heavy volume becomes rare as major players finish selling.
7) With no ready cash visible, company becomes more secretive and internal communication seems to break down. The investor's relation reps no longer know when the next financial report is coming out.
8) The report gets repeatedly delayed.

The next step of this pattern has not yet occured for JTS, IF IT FOLLOWS THE SAME PATH as other penny stock companies then the report will be worse than anyone expected with possible attachment of bankruptcy filings.

I find my JTS stocks represent some kind of religeous faith in an obviously poorly managed company. There certainly aren't any logical reason for me to keep holding this stock. Perhaps my ego is preventing me from accepting my own mistake.

NI
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