From J Taylor:
HERMO TECH TECHNOLOGIES - This past Wednesday, July 15th I
had a conference call with Rene Branconnier, President and Wayne
Hanson, CFO of THERMO TECH TECHNOLOGIES. The purpose of
my call was to ask him about the contempt of court case in view of Judge
Cohen's decision against Thermo Tech and also to seek some assurance
that the company's share price was not reflective of some intrinsic problems
in the company.
In case you are wondering about what Thermo Tech thinks about the
contempt of court case, Branconnier suggested that the company will
co-operate with all court orders but with respect to the outcome of Judge
Cohen's ruling, he said he did not plan to make a press release because the
company did not consider the judgement to be a material event.
Following my conversation with Branconnier and Hanson, I remain
convinced that despite some disappointments in terms of timing and a lack
of follow through on various fronts, this company is moving forward and that
its share price is enormously undervalued. I will provide details of my
discussion with management in the August 1998 issue of J Taylor's Gold
Resource & Environmental Stocks and I am also hopeful that the company
will have completed some projections that break out the company's current
operations alone. What I want to look at is a picture of how much cash flow
the company can expect to generate from its 400 ton per day Hamilton
plant, at its de-packaging plant in Toronto and its two waste transfer
stations. Then we will look at new plants that are currently being constructed
or that are expected to be constructed and as such provide revenues before
the end of the current fiscal year, which ends on April 30, 1998.
Like everyone else with money invested in this company, I have been
disappointed by the recent share price of Thermo Tech. However, for
reasons I will explain in my August issue, I continue to remain a believer in
the outstanding potential of this company and why I think those of you who
may not have purchased Thermo Tech before, should take advantage of the
current low price by acquiring shares at below $1. Be sure to keep your
subscription current so you will not miss my thoughts on Termo Tech to be
spelled out in greater detail in the August issue. For now, call the company
for additional information. Call either Ed Kroeker in Toronto at (905)
450-8866.
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