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Microcap & Penny Stocks : ABTX - Agribiotech
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To: James Hutton who wrote (7232)1/25/1999 6:44:00 PM
From: W Shakespeare  Read Replies (1) of 8359
 
My impressions after the conference call:

1.) The big players in the industry are not impressed with ABTX as it currently stands. There will be no buy in until the company can integrate its acquisitions and create some genetically enhanced products (1-2 years away at best). It is incredible to me that management had the gall to say that negotiations would continue in private. Give it up! No sane individual would believe that a reasonable buy in is in the near future.

2.) The company no longer has the resources to continue acquisitions in the industry. Once again, management waffled on this point. There is no cash and no high stock price to acquire anything. I, for one, am glad. The company needs to tend to integration and leave acquisitions alone.

3.) The company's balance sheet is OK. There are no outstanding accounting issues with the SEC.

4.) The company's research program is progressing. This is the main reason I bought more today. IMHO, this company's stock price is undervalued relative to its long-term potential.

5.) Management needs to shut up and let its actions speak. This was one of the worst performances by management in a conference call I have ever heard. Even softly lobbed questions by analysts were dropped with a thud.

I hope that management stays on course with its long-term strategic plan. I don't think that the street understands the potential of the sector. I also own MTC and no one seems to give any heed to their tremendous agricultural pipeline.
ABTX is going to be dead money for a while. Perhaps we'll see a dead cat bounce followed by a gradual decline to lower levels. But the long-term outlook is still incredible. I remain a long-term shareholder.
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