*************** LOCH feedback *************** | ------ | Respond |
To: bRiAn (242 )
From: Jim B Tuesday, May 26 1998 10:38PM ET
Reply # of 243
oh heck.. since the company didn't say this was a private email and
I assume all correspondences from a company to be public in nature
of course.. and companies sometimes hate being quoted out of context..
here's the copy of the email I got from LOCH today... mostly good
stuff.. a few negative.. but then this is a long term for me.. looks
good thus far... only issue is the float.. however, I DO like that
they said no rev. split anytime soon and maybe not at all.
However, any more stock dilution and it'll be time to move on for me.
Again, I like LOCH and will hold as long as things continue to get
better, and I think they will. Little downside to the stock at
these levels imho. ANyone who has concerns about the shares out and
144s should call the company to register your rights as a stockholder
that NO MORE share dilution will be tolerated. jim
------------
James,
As a shareholder, you should be aware that Loch Harris acquires
companies, ideas, patents, etc. with potential for development,
agressive marketing, and possible spinoff. The company does this with
little or no cash, instead opting to use 144 stock.
Most of our shares are being held by insiders, friends, and family
members. A great majority of our outstanding shares are also restricted
under Rule 144. The free-trading public float is probably around 50
Million shares. About 18 months ago, Loch Harris had little real asset
value. Only one true project was in the works-- PC Sentry 93000, valued
roughly at $6.5 Million.
Since that time, Loch Harris has accomplished the acquisition of the
following, all with stock:
1. AgraTech International, Inc. / The Tuli Project
2. US Aerodyne, Ltd. / Solar Pumping Subsidiary
3. PetroTech Resources Int'l, Inc. / Oklahoma Oil & Gas
holdings valued at over $30 Million
4. Chemical Detection Technology, Inc. / Landmine
(explosives / nitrates) Detection, Alcohol Detection, and other future
applications both military and commercial
The stock is being held down by market makers, short sellers, and
speculative day traders who sell whenever they see good returns, or sell
in order to push the stock down lower and buy it back at a profit.
That's the name of the game in the penny stock market.
A reverse split is not an option to reduce the number of shars
outstanding. It might, however, someday be the ticket out of penny stock
land, and onto NASDAQ or AMEX as a real stock player. I've seen the ploy
fail in other companies, and have studied their failures. Loch Harris
has already told its shareholders that the possibility of a reverse
exists somewhere off in the future as a small facet of a conscious,
strategic effort to move to a different market, but also issued the
promise that the management of the company would NEVER reverse the stock
simply to reduce the number of shares
outstanding or to increase the price of the stock. Gratuitously
reversing stock is dangerous, and not good for the market capitalization
of the company. Without proper support, it could be fatal.
The company has issued two stock buyback announcements, and has already
repurchased over 7 Million shares.
As far as reporting on current projects, I will have to simply mention
that we are exceedingly proud of our company and its progress, we are
ahead of schedule on many items, and we are enjoying the operations end
of these ventures. Our most recent press releases can give you an idea
of where we are headed and what we are doing. Also, please visit the web
site, www.lochharris.com, from time to time for more information. Also,
from that site, you may download a copy of the Loch Harris Report, our
quarterly newsletter. Any other information would be inappropriate here,
as selective
disclosure can be a very real problem.
Thank you,
Mathew Harris
Executive VP / Operations & Acquisitions
Loch Harris, Inc.
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