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Microcap & Penny Stocks : Dominion Bridge Corp. (DBCO)
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To: Chien Li who wrote (436)2/17/1998 7:51:00 PM
From: MARK BARGER  Read Replies (3) of 535
 
Chien Li, I have a position in DBCO also. It is obvious from the DBCO stock price movement (or lack of) that DBCO management are not dealing from a position of strength during the buy out negotiations. It looks as though they have a serious cash crunch and nowhere to turn to borrow money unless indeed Sanda did come thru. I think DBCO is in a position where they have to sell fairly quickly (in the next 2 months)
or face the music with their creditors. Presently, as you know, they bleed red ink. They managed to have a negative cash flow of $32 mil. for 1997 according to the 10-k. These guys aren't strong enough financially to weather much more bleeding from what I hear.

Your point about getting new management and retaining ownership is a valid point. But the only way DBCO can get working capital to stay alive is to sell shares one way or the other. Whoever buys shares is going to want a say in running the company. In my opinion there is no way DBCO can simply get new management and maintain control of the company. I think the only way DBCO will survive is for someone to acquire the company. With Curly and Moe's shenanigans last week the buy out price is looking more like $1.5 than $2.5 I think DBCO would be an outstanding acquisition for ECGOF even at $2.5 a share, but with the continual damage being done to DBCO's reputation by the idiots running the place ECGOF's management is showing savvy by stepping aside. Bottom line, the only way DBCO will survive is to be acquired.
I hope it happens soon, before more damage is done.

Mark
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