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Gold/Mining/Energy : MYT - Mytec Technologies
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To: antonio doria who wrote (1108)9/23/1998 9:17:00 AM
From: Investor 007  Read Replies (1) of 1535
 
I do see this as a buying opportunity, though I would be cautious, particularly given current market conditions.

I think Hollingshead has the business sense to extract value from the Mytec investment, while not betting the farm on it. Just look at the Counterforce track record. Steady and profitable growth over many years. One customer at a time. Hollinshead was a founder of Mytec and is not along for the free ride as Grecco was.

I think they have a good product, but the market hasn't opened up yet. If they are fiscally responsible they will be able to last. I suspect the credit line was based on Counterforce strength, not Mytec. The key will be to limit draw down on the credit line or it will be a drain on Counterforce.

It will be interesting to see what kind of replacement they seek for the position. In fact, I wonder if they really need a new CEO at all right now. Why not stay with the interim plan of a GM for Mytec? It conserves cash and doesn't build huge egos which require a lot of hype to stay inflated. They should tread water until the market breaks or find a small niche to play in. That's all.

By the way, I don't live in Florida and do value my privacy. Thanks for the invitation to meet, but I must respectfully decline.
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