Hi Andrew:
Conflicting information is coming out of Medallion. I spoke with Paul Kelly, president's son at Medallion, about 6 weeks ago when the stock was 15 cents. At that time I was concerned that the 2nd billboards expected to be delivered in Florida got damaged because of the killer tornado. The stock took a 30% drop right after the tornado. So, Paul told me that only the Houston system was delivered and as soon as it is tested they expect to ship the second system in July to Florida.
Also, looking at the official company BW on 03/16/98, ADOT said the 1.7 million order is "in production". They have received 'requests" for 2.7 millions (not orders). My conversation with Mr Kelly revealed that they intend to field test the first system before installing the second system.
So I believe those guys at Medallion are not very well informed. I personally have spoken with 3 persons at Medallion, and when they don't know they invent. I would only trust at Medallion:
1- Mr Kelly: president.
2- Paul Kelly: president's son.
Note: However, if you can get to call the company and hear it from the horses's mouth, that would be better. So, as of 03/16/98, from the press release the systems were "in productions".
I get the feeling those guys at Medallion don't read, press releases. I had one guy saying they have 6 million shares two weeks after ADOT released they annual report saying they have more than 7 million shares.
Andrew, I think you did right reporting that the information is coming from "Medallion". That way your integrity is not at stake. I always state my source too. That way my integrity stays clean too. I always take the company's press releases as the best source of information.
I am an investor since September 1997, and only joined SI on March 16th, 98, and I enjoyed reading your previous posts and appreciated your hard work when nobody was around.
Kind regards,
Fred |
