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Technology Stocks : UREC - URECOATS INTERNATIONAL (formerly WINA) ready now
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To: Jim Bishop who wrote (107)5/12/1999 12:29:00 AM
From: CIMA  Read Replies (2) of 199
 
A friend of mine who is now at the Hyatt in Santiago, Chile on a business trip just E-mailed me this:

This is the hotel computer and I do not know this keyboard (it is for
Spanish and Portuguese so the keys are different).

Today I was able to speak with Larry Clemens and the following is a
summary of the conversation:

1. Larry Clemens was appointed President on 1 Feb. 1999
2. Larry has previously worked for among others a company called ASC.
ASC has some sort of relationship with GM. He ran the projects that
took the one of the Corvettes and the new Transam from inception of
product idea to ready for production. (Exactly what the relationship
was between ASC and GM was not clear.)
3. His expertise is developing new products and taking them to market.
4. The CEO is Richard Curtz (spelling?).
5. Richard owns the Canson Corp. (spelling?)
6. All of the money to run the company is coming out of both his and
Richard's pockets.
7. Neither he nor Richard have been calling friends or anyone else to
try and get money for the operational costs of the company.
8. The reason for this is that they fully believe in the products and
the new company.
9. They both have comfortable lives and are not doing this in order to
survive, they do it because they really believe in the product and that
it will be great.
10. The are working on two things right now: two products and a
delivery system.
11. The two products are a rubber sealant membrane and an asphalt
sealant.
12. The rubber sealant is a product that in painting will be the
equivalent of what velcro was in its own right.
13. The rubber sealant will be multiuse that can even be used on
embassies in order to contain bomb blasts.
14. Currently, they are testing to get approval for the rubber sealant
in Dade County, Florida.
15. Dade county has the most stringent rules anywhere so if it passes
Dade's tests it can pass anyones.
16. There are several tests that have to be completed. One has been
completed and it far surpassed anything the county has ever seen.
17. He was not willing to speculate when the other testing would be
complete.
18. At the same time they are developing a delivery system so that when
the products pass the tests then there will be a delivery system that
can be used by Joe Blow in order to apply them to building X.
19. The company had a disatrous result when it invited shareholders to
a test in January, he would have not done it that way.
20. It is crazy that the stock is down at .14 and that does not make
sense.
21. Many people that bought at 3 and 4 Dollars have called him and he
feels bad about what has happened to their investment.
22. He thinks that in 18 months they will not be worried anymore about
their investments.

My impressions:
1. He was very friendly and more than willing to talk to me. He even
invited me to visit him anytime.
2. We spoke about 20 minutes and it was difficult for me to get him off
of the phone, but I had to go to visit a customer so I could not talk to
him anymore.
3. He seemed very sincere and really believes in the product and what
he is doing.
4. He has no doubt that the product will become a major seller, he told
me that it will result in multi-billions of US$ in sales. The way he
said it makes me think that he really believes it.
5. I would like to ask him about his plans on taking this to market,
how and when?

There are many more questions I would like to ask him. Perhaps before
selling the rest of your shares at a loss it would be good to find out
if he really has good judgement and can do what he says.
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