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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Kevin Podsiadlik who wrote (21748)8/6/1998 8:49:00 AM
From: JDN  Read Replies (2) of 31646
 
Dear Kevin: I hope that you made an honest effort to be fair in your analysis. I will give you the benefit of the doubt that you did. I only wish to comment on a couple of your FLAGS.
Iffy about the future: TAVA's success has been BEYOND ANY INITIAL ESTIMATE. I believe that it is in a state of flux as so many opportunities are being presented. The CC from which you are extracting was long ago since then they have more firmed up their future.
Report date: TAVA has decentralized accounting with now 14 locations. They are using a second tier CPA firm and admittedly their accounting system is likely (I dont know for sure) not completely up to par given the TREMENDOUS growth they are experiencing. The fact the auditors probably wont issue their report until mid Sept. is NOT UNUSUAL at all. I ought to know I am a retired audit partner.
Filings with SEC: I too have never seen a company report every press release on form 8-k. It exposes the signing officers INDIVIDUALLY to CRIMINAL charges if they tell a lie. I believe that Mr. Jenkins is doing this to reinforce that these incredible contracts are in fact true and material and NOT hype.
Use of cash in operations: ANY growing company USES cash in operations. Only when a company is mature and stabilized or declining does operations PROVIDE positive cash flow. Why? Because ever increasing business (in this case huge increasing business) causes inventories and receivables to grow rapidly. Also they spent a good deal of what I would call development stage money in their data base, cd development, employee ramp up, acquisitions and the like.
Thats all I can remember of your post to comment on.
In summary, YES, TAVA is a speculative investment and not meant for widows and orphans. But I truly believe the potential gains far out weigh the potential losses at this point. If one wishes to be safer then wait for the earnings and CC to invest. But while you will feel safer you will not pick the stock up at this low level. JDN
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