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Technology Stocks : DSSI/DATA Systems & Software
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To: Omer Shvili who wrote (684)7/23/1998 9:43:00 PM
From: Madharry  Read Replies (1) of 1061
 
With all due respect to the optimists , I was less than impressed with Morgernstern's letter. If Comverge is really happening why did he not place more emphasis on it and give us poor shareholders a little information on the trials and possible financing of this entity. Even if the company has a technological edge now it remains to be seen whether that technological edge will be sustainable if it does not get contracts soon. The other concern that I have is a lack of an alliance with a major overseas power supplier.
Most major entities want to make sure that that the suppliers will be around for a while so they prefer to deal with larger entities.
I also do not really understand the org. structure. I thought powercom and comverge had merged but the chart shows powercom as a sub of an Israeli company and Comverge as a US sub. Is this a mistake or did I misunderstand?

It was redundant for Morgernstern to say that 1998 was a transition year. If he has no contacts and new revenues to annnounce then silence is golden.

Finally, I have long ceased to be impressed by whoever is on the board of directors. I have yet to bear witness to a situation where a director saved shareholders any money. Usually they are there to rubberstamp ridiculous option and management contracts.

Having been negative up to now I do agree that the value in the stock is currently supported by Tower and the Israeli computer business, and if Comverge does workout DSSI should be a big winner. But until we see an actual contract it is pie in the sky.
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