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Microcap & Penny Stocks : ABTX - Agribiotech
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To: The Ox who wrote (7443)2/8/1999 11:32:00 PM
From: M. Carver  Read Replies (2) of 8359
 
Michael,

There are still more options to go with your A,B and C choices. How about:

D. Pursue class action proceedings.

I don't mean to be flip when I say this. On 12/24/98, an article from the Albany Democrat-Herald was written from an interview with John Francis. I don't mean to take this out of context, but the last paragraph of the article reads as follows:

"While he wouldn't release any details or say who the potential partner is, Francis did say that a deal is in the works that will transfer ownership of at least 20 percent and possibly all of the company. It will likely be announced in late January or early February,he added. That partnership and the "hundreds of millions of dollars" in capital it will generate will give AgriBio Tech the opportunity to pay off more debt and continue to acquire more of its competitors, Francis said."

I have been silent on this board for a while doing a little research. Note the use of the phrases "that will transfer ownership" and "it will" from the paragraph above (not "this might happen"). Based on the 180 that ABTX pulled as evidenced as comments from this particular article, I can only conclude that as a shareholder I acted in good faith to what an officer of the company said to the public -- and it was ABTX who lead us astray.

Fool that I am, I still like the company's vision and long-term value. Hard to say which might happen first: Becoming a shareholder again or waiting for closure (and payment) from the class action status.
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