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Non-Tech : ThermaCell Technologies (VCLL)
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To: Joe Griffin who wrote (127)2/20/1999 12:24:00 PM
From: Andrea Lastroni  Read Replies (1) of 164
 
Maybe you have reason. But I think this quarterly report is the worse we can expect. The revenue is 90000$ less than we and Mr. Pidorenko expect and mostly there is a lot of expenses heavily grater.
Even if the revenue will be 1.400.000$ (as Mr. Pidorenko said) "rebus sic stantibus" the next quarter too it will be a loss. It is not difficult to calculate it. Quarter after quarter we say VCLL is a very good company. Maybe. But till today VCLL hasn't earned 1$.

There is the last important matter about Thomson Kernaghan Ltd. of Toronto, Canada. I don't know exactly what it means, but it seems that VCLL owe to Thomson Kernaghan Ltd. 650.000 common stocks, that with the 1.205.000 issued during the last quarter means a growth of the 50% (a little less) of the total share number. In other words it means that the value of my shares is 1/3 less.

I will continue keep an open position in VCLL. But surely my exposure will be lower and lower. There are other good company that already produce earning more than VCLL.
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