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Technology Stocks : Plasma Environmental Technologies
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To: Fass99 who wrote (255)7/14/1998 8:59:00 AM
From: gweston  Read Replies (4) of 420
 
The whole story about PLAS

The four months before the latest news release the boys at PLAS had been paying themselves with warrants they were almost completely broke. I even found out that their printing bill was three months past due. Obviously they could only go so long before they need cash, so they paid themselves. One week before the last news release they exersized 750,000 warrants, then when the news came out they dumped them all!! They assumed the market could handle it THEY WERE WRONG!!
I don't believe they wanted to hurt the stock but they needed the money and figured that was the best time to get it. The third party selling system of the CDN makes this kind of profit taking impossible for anybody but the market maker! And the market maker is pissed off. Thats why even the smallest sell order sends this stock lower and lower!
The question that arises from all of this is, was the lastest news release just B.S. so they could cash out the warrants?
To find out I called EMSC and talked to a few employees they confirmed the agreement and the sale and seem to be quite excited about it. I am currently waiting for a call back from the pres to find out more details like the closing date. EMSC has 3.5 million in revenues a year and employ 12-100 people they mostly with government contracts.
They will run this stock again smart people buy at times like this dumb people buy were I bought it the first time. I believe I have learned a valuable lesson from this nest time I will be the one taking profits hopefully on the ASE!
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