MYT - Mytec Technologies Message Board

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Gold/Mining/Energy : MYT - Mytec Technologies

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To: Glen Abbey who wrote (1007)	6/24/1998 9:46:00 AM
From: Investor 007	Read Replies (1) of 1535

I doubt there are any institutional investors since the RBC report last year valuing the stock at $1.50. They tend to look for fresh new stories. This one is getting long in the tooth. There was an earlier posting (#996) about the purchase of a biometric company by Sonoma. The company uses pattern recognition (like Mytec), has 28 employees including many teckies (like Mytec) and has revenue (unlike Mytec). Approximately 50% of the company just changed hands for $5 million. Therefore the total value would be about $10 million. If you apply this valuation to Mytec, the fingerprint business would be worth about 50 cents per share. (That is in fact what RBC reported.) So why the difference in valuation between the two? The answer is that Mytec is a public company and relies on investor inexperience and false hope to support its share price. Don't get me wrong, there's nothing abnormal or immoral about that. All small high tech companies do the same. The result, is that if you're buying for the short term you can make some money on the swings. If you're holding for the long term, you better make bloody sure there's real sustainable value. My read from Grecco's comments is that there just isn't.

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