Global Thermoelectric - SOFC Fuel cells (GLE:TSE) Message Board

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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)

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To: Jim P who wrote (1518)	4/28/1999 11:47:00 AM
From: Michel Houle	Read Replies (3) of 6016

"Hi Michel, I guess you haven't bought any GLE yet. Soooo... let me see if I understand this....someone at GLE called someone at Delphi and asked them to put out a release to drive the price up so warrants can be excercised...hmmm...makes sense to me???????" Hi Jim, This is not quite what I am trying to say. Sorry if I was not clear enough. I do think they may have had some agreement in principle with Delphi for some time (perhaps for many months). What I am thinking is that they may have asked Delphi's permission (ahead of time) to put out a NR to inform investors of their talks with them. Look at it from Delphi's point of view. They are an auto parts and systems provider and they are lurking all around (not just in GLE's backyard) for new technologies. They would certainly not like to be left out IF GLE could come out in the future with something interesting for them. This point has been discussed here already (a foot in the door type of relationship). As far as I can read into it, GLE's fuel cell is far from ready for automotive applications. Hopefully Delphi will provide some decent funding to help GLE accelerate their R&D and even attract new brains to their team. Now, please put yourself in GLE's shoes just a week or two before warrants expiry date. If you read the posts on this forum just a few weeks before the issue of two NRs, you will encounter discussion about how the company could get the warrants exercised (the price had been around 1 dollar for a very long time). It was then mentioned that the company was well aware of the situation and they needed the warrants money for their R&D. So, my view is that they crafted the two NR's in the hope of bringing the price in the 2 dollars range (my guesstimate) and have the warrants exercised. I read it as astute planning: first a NR about their fuel cell development, then a carefully crafted note about a working relationship with Delphi. It also makes business sense for Delphi to give GLE a hand (just by letting them issue that release) and help them get more money for R&D. I don't see any lack of integrity here, as someone else was pointing out (in fact, my opinion on the company is just about the opposite). I simply see it as good business planning. For about a year, GLE has been a value play for me and I certainly though the shares were undervalued. It seemed just fair to me that the price should at least go above 2 dollars (without even counting on the SOFC development). I see it now as overvalued and I don't want to be holding the papers when the momentum players leave the stock. I hope you will at least agree that the timing was excellent for the NR's. Coincidence? I'm sure Steve or StephenO can understand my point of view (whether they agree or not). They have a longer time perspective than most people currently writing on this tread (I have been reading their posts since around April or May 98). All of the above IMHO and sorry for being lengthy, mh

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