I thought I'd re-post this here....
Hi BobbyY94,
I will assume that you were somehow connected with ICGN in the past, have an axe to grind with
management, etc. As a long time investor of ICGN, I feel your pain...
If what you say is true, then I'll be the first to vote to sell-off Fresh Air solutions. Then I'll follow the sale,
and get back into a play on dessicant A/C. I don't believe that ICGN can do two things well. It needs now
to focus on something....if that's Rare, then so be it. Rare sounds like it has a lot of good potential...I'll be
willing to see what happens.
The Rare deal is a deal to make a lot of money. Unlike ICGN, high gross margins (80%), young,
aggressive and
enthusiastic management, high Wall St. visibility, ridiculous valuations of competitors, profitability, a good business model....
Following are my revenue/income projections:
Last year: 3 million in sales, $500,000 net after taxes
This year: $10 million in sales, $1.5 million net from Rare,
Fresh Air breaks even or becomes independently profitable
If not, Fresh Air is sold...patents, plant and all, reducing
drag on this hi-flier. If profitable, Fresh Air moves
forward...potentially big business.
Some key acquisitions made by Rare
Next year: $25 million in sales, $3-4 million net on roughly 30
million shares diluted...Rare reaches critical mass and is now
able to capitalize on more opportunities..revenues/income
grow dramatically....Projected stock price towards year
end close: $6-10.
I'd hate to see Fresh Air fold up, but if staff has been stripped to the bone, then there is no point in keeping
it. Sell it to a stronger player and I'll follow it there.
Anyhow, I'm not surprised to hear that staff had been cut at ICGN. After all, they only got the $20 million at the end of March.
With that kind of money, I'm sure that hiring qualified personnel would not be that difficult. Dessicant technology, after all is not rocket science, one of the reasons I like it.
Tom |
