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Technology Stocks : Noise Cancellation Technology (NCTI)
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To: valuehunter who wrote (2326)9/18/1998 12:14:00 PM
From: MIKenn  Read Replies (1) of 2775
 
Management has not dug a hole for itself. It is exactly where it wants to be.

For eleven years, NCTI has survived on the equity of sucker investors. It has no debt to speak of and no creditors to turn the company on its ear. It has assets that fluctuate from quarter to quarter solely based on the number of shares it places privately.

Have any of you people looked at the balance sheet? BOOK VALUE OF <$5 MILLION. Earnings statements? ELEVEN YEARS AND NO PROFITS. In the mean time, equity has diluted from 10 million to 20 million to 40 million to 80 million to 120 million to 155 million...next to 255 million.

Someone said he couldn't stand to lose 50%. Well that's only half of the story! The other half is still on the table. Track records are important and, in my opinion, represent distinctive indicators of future performance. ELEVEN YEARS is an awesome indicator.

For disclosure purposes, I am long on 10 shares.
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