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Microcap & Penny Stocks : BAAT - world records for electric vehicles with zinc-air
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To: TokyoMex who wrote (402)1/27/1998 7:13:00 AM
From: ForYourEyesOnly  Read Replies (1) of 6464
 
Please confirm if these guys are on the line:

The technology SOUNDS extremely attractive, and if they can get even one product into a mass commercial market this company should explode. However, I am concerned about the honesty of the financial statements they have made.

Based on their recent conference call:

1. 69 million shares issued
2. Almost no debt
3. They have been financing operations for the last
several years through the sale of products- other smart investments, and internal support.

Now if we are generous and assume that the 69M shares were sold for $0.50 per share, then they have raised $34M from shares placements. If they have almost no debt, then they have had to run almost only on the $34M.

How could they do the development of all of the products they have on just $34M?

What does he mean by "other smart investments and internal support"? I can't believe that a start up would have cash to make "smart investments" which would yield significant income. "Internal support" also appears to have no meaning.

Can anyone shed some light on this? I'd love to believe in the company, buy a truckload of the shares and put them under the matress for 10 years. But the above financial issues just don't sound right.

Can anyone help me?

THC
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