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Gold/Mining/Energy : GPW Group West Systems Ltd. (Year 2000 Software Company)
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To: Pierre J. LeBel who wrote (613)5/3/1998 8:05:00 PM
From: Bernard Elbaum  Read Replies (5) of 1443
 
Thanks for clearing up the press release. From what I'm told, Group West should be announcing good news shortly about winning Y2000 contracts from government bodies in Ontario. Projected 1998 revenues could be as high as 25-30 million, well ahead of TK's estimates.

There is, by the way, nothing wrong with a company spokesman telling individuals such things on the phone, provided it is made clear such statements are mere expectations and not hard fact until issued in a press release. Companies cannot be expected to issue press releases about mere projections until they are fact. But they are entitled to discuss their projections with investors. Such projections, of course, can turn out to be hype, but engaging in hype damages the company's long run credibility, so that companies with a reputation at stake tend to refrain from hype. I consider Group West, as an established software company with some reputation among blue chip clients, to have too much at stake to hype its stock unduly.
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