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Microcap & Penny Stocks : LENP.T (LXPYF-OTC.BB) Best story ever?
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To: Kit H. Lou who wrote (59)8/16/1996 1:52:00 AM
From: Dan Turner   of 619
 
I haven't seen earnings. I did expect them out by now. My understanding is that CTC (the one behind their web page) is holding the numbers and just waiting for the OK to release them. I would think they'd post them on the web page at the same time they release them to the wire services. If they aren't out tomorrow morning, I'm planning to put a call through to CTC to see if I can get more of an explanation. I don't really get this stuff about Canadian stocks having to get "approval" before they release numbers. The closest to an explanation for that process I got was that the Canadians want to make sure all the Canadian market makers are getting the information simultaneously. In this day that sounds pretty lame, but bureaucracies do stupider things.

On the j.v. partner who makes plastic automotive parts -- I never saw a release of a name. I could only speculate.

I agree that this could easily be a "heritage" stock. With the patents in place in 1995 that gives them, what is it now, 17 years of patent protection? If they don't sell out they should be good for at *least* 15 of those years. And, with some of the other possibilities I've heard about for lignin chemistry, they're more likely to be good for a LOT more.

In some ways Lenox is like a drug company that has discovered a new drug that has tremendous benefits for a variety of common and continually recurring illnesses. Moreover they've figured out how to make the drug cheaply, out of raw materials that are otherwise nearly useless and hugely abundant (and renewable). And, because it is NOT a drug, they don't have to hassle with the FDA approval process. For that reason and because the technology is not super high tech, their cost structure is way lower than that of a drug company.

FWIW.

-DT
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