American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.655

-0.6%

Dec 23 3:59 PM EST

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To: david james who wrote (2002)	3/5/1998 6:28:00 PM
From: Czechsinthemail	of 2841

david, I think the big problem is that much of that growth rate in revenues, earnings, etc doesn't translate into EPS because of the enormous dilution. I think that was the factor that really torpedoed the earnings. As you pointed out, the growth numbers by themselves are very good, particularly for a company with such a low PE. The problem is in having continued to feed high expectations. I think McGinnis should have taken a deep swallow and preannounced much earlier. Not having done so after repeatedly expressing comfort with estimates feeds enormous feelings of betrayal as witnessed by the numerous posts. I don't believe the downside will be very great simply because the PE is so ridiculously low already. Most of the long-suffering shareholders have been through so much hell already that I expect this will be accepted as just another chapter and people will continue to hold waiting for the company to be more fairly valued. On the other hand, I think the company will have to show come up with some very positive performance before it will be taken on faith again. Baird

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