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Gold/Mining/Energy : MYT - Mytec Technologies
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To: antonio doria who wrote (1102)9/22/1998 9:51:00 AM
From: Glen Abbey  Read Replies (1) of 1535
 
New technologies are always a crap shoot. Biometrics are a winner for the future but how long in the future is still anybody's guess. Does Mytec have a product with potential for when it does take off - yes at least for now they do. The longer it takes for a market to develop, the more competitors will appear.

Mytec among other biometric solution companies are trying to create market demand. This is a slow and tedious process. You win the war one account at a time until the market takes off and you have earned a reputation within a niche of the market. The bank niche is showing promise but is also the most competitive. Mr. Grecco seems to be betting on this market because it is one he knows. We won't know if he can win until the results of the pilot projects are known. Even still it will be a year or two to hit the mainstream after that. It does not surprise me to see staff changes at this point. We are not the only ones who get nervous about our finances when the realization hits that expecting overnight success was not a realistic expectation.

Personally, I have not ruled out the upside potential. Over time we can still see a winner. What I want to see is the hedge strategy to ensure Mytec stays viable until the market takes off. Counterforce is one piece but not strong enough to withstand a long delay. An acquisition in a more complementary field would be a better strategy IMHO. Does anybody know if there is any activity on that front?
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