No insult, but I know all of this. Again, none of it is confirmed. All of the deliveries have been delayed or dissappeared, and we wait without any knowledge of what is happening.
We have seen no reports on how much Nx is for the 2 or 3 projects in ME and VA. Obviously, if the delivery is to be in mid-1998, the plans have been finalized, if not, we have again been mislead.
We have seen NO tonnage info. on the ASA contract.
What will happen with the other contracts for solid SS? I have seen no information on escape clauses, albeit they may have them, but I must assume they do not.
Further dillution of the shares is a scary proposition. Every time this happens without the option to the shareholders to buy first to maintain proportionate ownership, we lose value. The previous intra-day high was $3.50 or so, but that was at 21M shares. Do you realize that at the current level of dillution that is reduced to a corrected $2.40? Another 10M shares will drop us to $1.82.
The German mill can be used for either product, but what is it set up for NOW? We have not received any word as to what is happening.
I don't mean to play down your input, but it is mostly speculation. Without hard facts, one can not begin to estimate the value of this company.
Look at it this way, we know what our tangible assets our, and our liabilities, therefore we can estimate the liquid value of the company. What we CAN'T estimate is the intrinsic value of this company, that being the intangible. We have no efficient communication with the company, simply speculation on the part of people affiliated with the company and some officers who feed us snacks to pacify us. The only reason to own this company is for what it MIGHT do in the future. To own this stock says that you have decided that this investment is better in your mind than any other investment out there... Therefore we NEED to be able to form a decent estimate of what will happen. We can't. No amount of guessing will help. Without a solid line of data and communications with Stelax, we can not know what is happening.
Here is what we KNOW, not what we speculate:
1. To further Nx production, the company may issue 18 million more shares, effectively diluting the value down to a level below where many now own their stock, or are averaged in.
2. No significant amounts of Nx have been delivered to anyone.
3. The company is almost out of money.
4. The company has failed at its only venture so far.
We simply do not have enough data to go on. While I don't own a large block of shares, I certainly have the ability to. Without any real company info., I can't see any reason to buy more, and see many reasons to sell if chips start to fall in the wrong direction.
Gotta run now, more later. Not gonna correct spelling errors either, too busy. Ahhh... |
