lcav Message Board - Msg: 5656650

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Microcap & Penny Stocks : lcav

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To: Harry W. Lowe who wrote (528)	9/2/1998 5:45:00 PM
From: Manny Gugliuzza	Read Replies (2) of 942

thanks Harry, i had to reread the letter from Dr. Joffe trying to get an understanding of what he feels is the best interest of the stockholders. after loosing 36 million on paper and the potential for 30-50% more after split the cash flow of the company seems small. I do not think we can really be sure that the stock price now will discount any further affect of the split at least not from what i have been through several times before. announced reversal splits may cause immediate sell offs as we have seen, sometimes basing and implementation by the company may cause the attraction of short sellers and a subsequent 30-50% decline usually does occur at current levels this would with a 1:10 would possibly bring us to 7-10$ pershare from which a strong powerful rise would ensue IF earnings stay on tract. The only understanding to be drawn from this action that the company continues to pursue during a severe market struggle is that 1. they have no market timing and are ignorant of market influences that can crush a companies ability to raise cash, also 2. that they will most likely declare the split at the wrong time and 3.that this is for the long haul into the new millennium with reduced # of shares and positive earnings which have now seen their 1st push back to 1 Q 99 from 3rd Q 98. it will be difficult to convince the average investor that the boards actions are in their best interest and drawing new money investors nearly impossible with all actions ongoing. OBV,the only somewhat positive indicator is remaining high only from the Joffe's and summits holding shares. essentially in the long haul i believe this should be in the best interests for the COMPANY i just wish they would come out and say it like it really is. ar.

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