Zeev Hed, I am still not buying your motive "to learn." It's one thing to listen, learn, and inquire about certain aspects from time to time. In the past, you have recklessly thrown out bad information and posted more negative information then anyone else on this thread. That is not how you learn. How could you possibly be considering an investment in this company with your deep seeded negativity. I still think that you either: 1) have no life, and thus can waste your time on this thread; or 2) have an ax to grind about this company.
As for Carl, he sold on Aug. 22 and took a loss saying he had a price target of $5 -- not exactly the kind of wisdom I want rubbing off on me.
I spent some time reviewing some of your previous messages and here is an attempt to correct some of the previous misinformation or answer some of your questions.
Market's Vote on the Acquisition
You believed the Market was voting "no" to the acquisition based upon a weakness in the stock. I disagree, the Convert Buyers didn't vote no, and eventhough the stock has really run up since the roadshow I am not confident that its fluctuation from $11 to $15 over the last three months doesn't have more to do with industry or market fundamentals. I am more confident on the convert buyers capabilities to evaluate the acuqistion. We know what their vote was -- a loud YES!
Catching up on PMAT's technology in the downturn
Etch is very simple to break down, there is Applied, Lam, Tegal, etc. -- they all use Inductively Coupled Plasma (ICP) sources. This is clearly their next generation (down to at least .18 micron) technology by their own admittance. They have been competing with PMAT with this technology for next generation R&D/pre-qual sales for over 1 year. They have been developing the technology for several additional years. In other words, another technology is highly unlikely anytime soon. The cards have been delt and the game has already begun. Previously, you have posted that you like PMAT's etch by itself. If this is the case, and you belive that the MORI solves the inherent problems with ICP, you must like them in the etch game for the next 1 to 3 device generations.
You have continuously expressed concern about Electrotech being a Wales Company based on similar experiences of your acquisitions of Wales companies. First off, Electrotech has been headquartered in England for the past 25plus years. If you look at the operational results (which are phenomenal) since Nigel took control of operations (93?) and for the first time Electrotech focused on growth, I can't understand your comments about work ethic.
You expressed concern about Electrotech management cashing out and their "incentive to pull on all cylinders." I trust that you now understand that Dobson has 1/3 of the shares and it would take many years to cash out under SEC 144 rules even if he wanted to. What about the other mangers and employees. For the first time in their lives, they will have ownership in a company through stock options. Stock options are a big motivator!!!!!!!!!!!!
I think you are wrong again! |
