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Microcap & Penny Stocks : Metalclad Corp. (MTLC)
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To: JMM3388 who wrote (18)11/15/1997 11:29:00 PM
From: john harris  Read Replies (1) of 87
 
<<I spoke to Elgin William's @ MTLC on black Monday. 10/27/97. His overall comments were positive. They will be announcing their earnings before November 15th 1997. They should post a smaller loss then last year.>>

MetalClad posts a 4 cent per share loss versus a 3 cent per share loss last year.

<<In two to three weeks they will be announcing the ground breaking of another waste plant.>>
Monday will be three weeks from your phone conversation. So far no announcement of any ground breaking.

JMM, like you, I am long the stock and am bullish on the future of this company. And, like you, I have spoken to Elgin Williams on a few occasions.
But, unlike you, I believe that Mr. Williams is common to the ilk of IR people of low priced securities in that he tends to play fast and loose with the facts. He has on more than one occasion misled me regarding the company's progress over the past 9 months.
I have now learned my lesson and would like to caution you and any others who may take what comes from his mouth as gospel truth.
It may appear to some as trivial but it could cost us money. His comments to you at quarter end regarding earnings are actionable. The SEC should mandate that all phone calls to these guys should be tape recorded. They should be held to their statements or not make such statements. This will prevent them from their natural tendency to hype.

Yet, still long and bullish on MTLC.
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