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

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

ECX 1.635

-1.8%

2:26 PM EST

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To: Brian P. who wrote (2112)	3/9/1998 1:26:00 AM
From: Mark Savino	Read Replies (2) of 2841

I want to start out by saying that there is NO excuse for a CFO to not be aware of the tax rate or number of shares. However, aside from preparing quarterlies and annual reports, the vast majority of the year is consumed with operating a company and increasing earnings. ECO appears to be doing this quite well. I can only hope that after the C&L audit, the CFO can get in tune with appropriate accounting practices so that we will never have to revisit this situation again. Many companies with poor earnings (or negative earnings) are deft at conference calls and can persuade shareholders to hang on without any real substantial growth opportunities. I almost think that if Mike would have felt "comfortable" with $1.05 for 1997, we would be sitting at around $15. I wish the market was kinder and rewarded companies with good fundamentals, unfortunately, good PR sometimes seems to be of equal importance. I just haven't learned how to insert PR into any valuation formulas. By the way, Mike was on record at a conference in New York that he was comfortable with $1.20. This was part of the road show that sent ECO from around $8 to $14. Mark

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