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Microcap & Penny Stocks : ABTX - Agribiotech
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To: Joel Karlinsky who wrote (7127)1/23/1999 12:46:00 PM
From: W Shakespeare  Read Replies (2) of 8359
 
The lack of at least a partial buyout is a killer. This stock is going to lose most of its value on Monday and it will be years before the stock will recover. I will not sell on Monday and still believe the stock has long-term potential but the following points must be considered:

1.) Management has completely lost its credibility. JT has announced too many times that the buyout was proceeding as planned.
2.) The fact that no company would make a decent offer for ABTX bodes ill for the company. Why couldn't the last major seed company available for purchase get even a partial buyout?
3.) No buyout means no cash for future purchases. The reason the company was put on the block was to raise the funds needed to continue making acquisitions.
4.) No buyout means the debt on the books will not go away and the company will have to deal with large interest payments for the next few years.
5.) No buyout means a very tiny stock price. This hurts the company by making acquisitions by stock impossible and also by making the company pay out cash to honor stock price guarantees made to previous parties.
6.) No buyout means lots of lawsuits by angry shareholders.
7.) No buyout could make some of the major shareholders in the company sell their stakes in the company further crushing the stock price.

I am crushed by this horrible announcement. I feel totally betrayed and led astray by the management of the company. Even a long term prospective cannot erase the damage done by the buyout charade. I'm glad management will suffer along with me in this disaster.
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