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Technology Stocks : Logpoint Technologies (LGPT)
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To: mnispel who wrote (614)5/4/1999 2:28:00 PM
From: kash johal  Read Replies (3) of 698
 
Mark,

Thanks for your detailed post.

I have taken a closer look at the company.

And then I tried to short the stock but was unable to at Schwab as apparently there are no shares available.

The company is a complete scam imho.

Here are my reasons for stating it:

1. The company has been around for 4-5 years and has published no financials. Even 6 months after stating that it intended to do so.

2. The company does generate an incessant number of press releases that contain LITTLE or NO factual information.

In fact they have the gall to publish a press release on a deal with IBM. When all that is going to happen is that folks like Intel,Mot,National are simply listing software that customers of their CPU's can utilize. This does NOT represent any kind of affirmation by these companies at all. In fact if you go through their web site and click on their links most do not work. IBM is not there. Intel's link is dated from 1996. National's, reccomends not even using the CPU that they are listed for.

3. The company seems to have NO major customers. The idea that major semiconductor or DSP companies are going to embed LGPT's algorithms into silicon is Laughable at best. The reason is that general purpose CPU's and DSP's need to be precise. And the whole reason that LGPT's algorthms work is that they are imprecise.

4. Their may well be a small market in very specific applications where precision is not required. An example for example is in video distribution. The MPEG encoding reduces total bandwidth required by losing some resolution that is not noticed by the human eye. In this type of application or voice transmission there may well be a market. Unfortunately the company seems to have no salesforce, no targeted product development that adresses such areas.

There seems to be continuing hype on this board regarding the company.

If any of would like to let me know how to short this pumper/dumper I would be most interested.

Regards,

Kash
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