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Microcap & Penny Stocks : ABTX - Agribiotech
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To: glen who wrote (1306)12/13/1997 7:40:00 PM
From: Mr. Miller  Read Replies (2) of 8359
 
TM Glen. Harsh thwapping. My ears are still ringing.

Never said $700 million was desired goal. Just said that it would be achievable based on track record and lack of competition thus far. As long as ABTX were to continue acquiring alongside internal growth, we could see revs reach well above the aforementioned, minimum $500 million revs goal, and realize better profits to those newly acquired companies' distribution systems. It is the "Acquisition Program" that I am buying; until I hear otherwise about improved biotech seeds. Right now, the sell is the tremendous growth from this program.

I have made it clear that seed technology will have to be evaluated and gotten moving well before the "end" of the program(and it sounds like we'll hear more on this topic soon from ABTX). It is much more unsure than "simply" acquiring companies. Much more uncertain.

With the cash flow and research base, it will certainly be achievable if they are able to put together the pieces as well as they have done thus far with integrating all these companies.

To finish, I do not think we disagree. I am with you that ABTX will need to focus much more of its energy on improving the seed and not just acquiring companies. However, after acquiring $500 million, that would leave more than $1.5 billion left untapped, including the knowledge that the international market is as big or bigger than the US. Being number one in the US market will/may attract many other companies from the unintegrated international market to join ABTX. Market share is a valid issue that I have, and I will continue to keep in mind going forward.

Have a nice weekend.

TM Miller
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