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Technology Stocks : Deswell Industries (DSWL)

DSWL 3.500

+0.7%

Nov 11 3:59 PM EST

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To: Brooks Jackson who wrote (345)	12/29/1997 12:22:00 PM
From: Ron Bower	Read Replies (2) of 1418

Brooks, Trie and Kanchanalak not being extradited wouldn't have anything to do with the desires of the President, his political appointees, and the Democratic Party? As I recall, Deswell's books are audited by a US accounting firm. I'm not where I can access my files so I can't give a name. Where is the incentive to 'cook the books'? Insiders own over 50% of the shares, Behringer owns 20%, leaving a little over 1M shares in the float and 575K in the warrants. They would only be lying to themselves. They can't sell off stock without losing majority control and driving the price down. They are taking accelerated depreciation to avoid taxes. They have only exercised stock options and sold stock BEFORE they issued a major earnings gain. Each report has been consistent with the prior reports. Until this last PR, they have made no optimistic statements about the future of the company. I believe this PR was made because of concerns over Asian economy and they wanted investors to reealize it wasn't effecting them. It may have resulted from my phone call. IMO - I have more trust in their reports than in US companies managed by big salary executives looking for bonuses. If they make 'adjustments' or misleading statements, they are rarely punished. They take their money and the stockholders take the beating. Deswell insider compensation is the dividends and stock options. According to Mr. Lau, they have to sell some of their stock to exercise the options. (You'll note that the monies received from sale of stock was about the same amount received by the company for stock thru options.) The insiders apparently are not wealthy other than their ownership in Deswell. The PRC is doing everything they can to promote US investment in China. They would not tolerate fraud by a company like Deswell and I'm sure that Behringer is also making sure reports are above board. For what it's worth, Ron

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