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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)
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To: Nathan Hansen who wrote (2334)12/20/1998 4:26:00 PM
From: StockDung  Read Replies (2) of 3458
 
I don't speak German but I guess the same amount of shares are outstanding no matter what language you use.

Turbodyne has been promoting the sales potential of its Turbodyne products technological breakthrough for over five years. During this period, it has had no sales of Turbodyne products. However, during this same period, Turbodyne has used its product claims to sell over 25.6 million shares at an average price of approximately $2.18 per share to the public. None of these shares were sold under a U.S. registration statement or through a legitimate underwriting. In fact, the vast majority of Turbodyne's 44.2 million fully diluted shares were created through below market private sales to insiders who then resold the shares to the public without further disclosure to the buyers.

Despite raising and spending over $55 million in equity capital, Turbodyne has failed to create any new products. As of March 31, 1998, Turbodyne had over 36.3 million shares outstanding, and 7.9 million options and warrants outstanding at well below market exercise prices. We see no asset or future earnings potential that can remotely support Turbodyne's current stock price. We believe this gross overvaluation combined with Turbodyne's complete inability to generate any earnings per share will cause the stock to fall to well below $1 per share. Furthermore, we believe that Turbodyne's upcoming initial Form 10-Q will require a more detailed risk section and significantly greater disclosures, which will be damaging to Turbodyne's factually deficient stock promotion.
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