High Growth Techstocks for 1998 Message Board

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Technology Stocks : High Growth Techstocks for 1998

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To: STARTER who wrote (532)	5/23/1998 11:34:00 AM
From: White Shoes	Read Replies (3) of 598

Mr. Starter, since a lot of folks visit this thread I suggest you make a little more effort to defend the merits of the stocks you bring here. This is not a thread to hype a penny stock that is starting to move. Unless you can describe its financials and growth prospects. We are here to see all sides of the story. I would also note for any potential PCS Wireless investors that the company was probed several months ago for stock manipulation. (Story in Financial Post & Canada Stockwatch.) The former execs in question received healthy golden parachutes. PCS is also one of those stocks that is pumped up in numerous different e-mail "alerts". It might be a good company, or it might be a paper play. We are interested in good companies here. Very good companies! Now PCS Wireless is a growing company whose 9 month sales appear to have almost doubled. They do, however, lose money and it does look like they are in serious need of financing. From what I can see they have a book value of about $.04 per share. The number of shares outstanding has increased to about 65 million in the past year (up from 29 million a year ago) and it looks as though further dilution will be necessary. They show a decrease in cash of $1.6 million for the most recent quarter. This appears to be related (on first glance) to an acquisition for which they paid $2 mil in cash and a whole swack of shares. Again, they seem to be in a good business but will need more financing. They likely also face heavy competition from much better financed players. I guess the only reason one would recommend such a company is that it is a company in desperate need of recommending. They need to do another financing. Also, the company they took over was a larger company, so it is being treated for accounting purposes as a reverse takeover. It looks as if PCS will have to reverse the cash burn soon. Perhaps their subsidiary Unique Broadband has good prospects but there appear to be huge risks here.

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