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Microcap & Penny Stocks : ALDM - Anyone know anything about this company?
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To: JIN CHUN who wrote (109)6/9/1998 11:16:00 AM
From: JOEY   of 381
 
I talked to the company on Friday the 5th: Mr. Brodzik:

Sec Status: Audited financials in a few weeks. In the process of finishing form 10

Shares authorized: 10,000,000
Most are restricted
500,000 in float

Total debt: NONE

I asked about revenues: currently they are estimating $1,000,000 a month once they start dredging. They are offering preferred shares to raise additional money to increase the dredging capacity. The bigger the machine the faster they will be able to dredge. ie 15 cubic yard system/75 cubic yard system etc.

Web page is being worked on.

When is rainy season over: June to October.

They are also lining up some investors in Germany who he felt will drive the price back up before they attempt to get a listing on the german exchange.

A name change will force the shorts to cover, quickly. Even a threat of one may cause covering. HE felt ALDM should be trading at the $3 level now and that it will be back up there once some of the above take place. HE said "sooner than later".

I hung up the phone very upbeat as he is a really nice guy. ALthough his knowledge regarding shares, sec facts etc is limited, he knows the mining business which is all I care about (from him).

I am looking for this stock to really move soon and will hold till it does. Please do your own DD. I did and I feel very comfortable.

Jake

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