IMOT, the Yahoo of China?? Message Board

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Technology Stocks : IMOT, the Yahoo of China??

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To: Grainne who wrote (586)	3/18/1999 3:25:00 PM
From: johnlag	Read Replies (2) of 781

I'll agree with you that there is huge growth that will occur in China over the next LONG while. It will probably be decades before they begin to function in any way that is close to western society, if ever. BUT - Investing into China is different than making a profit. It is also different than bringing funds back into its corporation based in the British Virgin Islands from China that listed on a US exchange. The shareholders seem to be on the very low end of a long stick. It is VERY difficult for western companies to do any kind of business in these types of countries. I have a lot of experience with oil and gas guys that went into the former USSR and after spending money on infrastructure, had all their assets stripped back to the government. In fact, I don't know one successful venture that has worked. This company has made great efforts to stay away from being required to report to the SEC or make itself verifiable in any way shape or form. It's just not standard business practices. Why bother having a public listing on the OTC exchange when the management and founders would do much better as a private company? How can the shareholders ever really be comfortable owning subsidiaries and such when it is all OUTSIDE the US boundaries. There's two ways to do things, and still this smells wrong! On the China cash injection side... Guys like Bill Gates don't mind throwing millions of dollars at something and hoping it grows into the next big thing in 20 years. He sees the BIG picture. IMOT is not focusing on long-term. Projections are short term, and I think unreachable. Just my opinion, still short. John

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