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Gold/Mining/Energy : MYT - Mytec Technologies
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To: James Bliss who wrote (1002)6/23/1998 8:47:00 PM
From: Investor 007  Read Replies (1) of 1535
 
Honesty I welcome. Stupidity I loathe.

At $3.00, the stock was not at risk of going to $10 based on hype as we've seen in the past. The shareholders meeting was over and the pressure behind him. He had come through relatively unscathed. He didn't need to bash his own stock. If I was on the board of directors, I'd kick his ass for saying the things he did. The only thing more stupid than hyping a stock up, is for the President to denigrate it down, just so he can get his name on the Dow Jones news wire.

I agree that it's better to under promise and over perform. But promising no profit for another two years (that makes seven) is not exactly a promise of success. Promising a low cost product in yet another two more years, when there are already a number of credible products on the market, is a recipe for disaster. Sometimes you're better off to politely say that the company is not at liberty to discuss its plans, for competitive reasons. A pro would know to do that. Grecco did not.

The only good news in the report is that the company is not yet broke; thanks only to the strength of Counterforce and the borrowing capacity it brings. With Grecco at the helm, you really have to wonder if they're throwing good money after bad.
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