RACE Message Board - Msg: 550981

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Technology Stocks : RACE

RACE 378.13

+0.5%

Dec 26 9:30 AM EST

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To: Eric N who wrote (37)	12/14/1996 2:42:00 AM
From: Gary105	of 130

Eric, I've reviewed GRNO and am not interested in it. Why? - Looking at their current price and "projected earnings" there is a big disconnect - the market is telling us not to believe their projected earnings. They talk about payback time for their process - but its impossible to verify because they do not mention (or I could not find) the anticipated throughput of their distillation plants. I'm leery that their patent is still pending - not issued. While they mention the economics of the good product of their process (ie diesel fuel), they do not mention the economics of the bad byproduct, nor do they even mention that they have a bad byproduct - i.e. the distillation bottoms contain heavy metals and are considered a hazardous waste. So while the distiller has a credit for the diesel fuel, he also has a debit for the distillation bottoms - he will have to pay to have them disposed of responsibly. Imo one scenario for this company is for its stock price to slowly drift to zero. Gary

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