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Microcap & Penny Stocks : MECHANICAL TECHNOLOGY (MKTY) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Hamilton who wrote (228)	6/17/1999 5:42:00 PM
From: Sid Turtlman	Read Replies (1) \| Respond to of 542

Dan: Sorry you sold your Ballard stock because of something I wrote, but I know I never suggested that anyone sell it due to expectations of short term trouble. When a stock is priced based on expectations for a product that won't even be introduced until 2004, there is plenty of time for the stock to soar, even if it turns out that the product doesn't get introduced in 2004, or doesn't sell well when it does. I continue to feel that the odds are very high that fc cars won't amount to anything until long after Ballard investors expect, if ever, and that PEM fuel cells are inferior to higher temperature ones (carbonate and solid oxide) for stationary power applications. The fact that people have become more optimistic about the BLDP's prospects doesn't mean my opinion will turn out to be wrong. All we have so far is jockeying before the race; the race hasn't started yet. Same thing on MKTY. I am short a little, but it is not a huge position for me, because there is plenty of time to go between now and when reality sets in. At some point soon Plug Power will probably file to go public, and that could cause buying in MKTY by people who think that the deal will be hot. Also, there are some car companies not yet on the "green" PR bandwagon (so people feel moral about buying their 14 mpg SUVs) who may want to start an exploratory fc car program with Plug Power. Nothing will come of it in the end - it will just be a PR ploy - but people will be excited and could well bid up the stock. As for ERC, it has taken the old fashioned (and wrong these days) approach of perfecting its technology before promoting it. It also has taken the old fashioned (and wrong these days) approach of trying to avoid dilution of its shareholders, so it hasn't cut deals with partners to give away shares for some unnecessary cash and publicity. As a result, its stock has been a poor performer and its market cap remains small. Yet at the same time it remains way ahead of everyone else in the stationary power field, IMO. Over the next few years, if things continue on schedule and it becomes obvious to people that ERC is the fc company that really deserves the $2+ billion caps accorded BLDP and, implicitly, Plug Power, then the impact on the stock, with its minuscule number of shares outstanding, will make your head swim. Enough about that on this thread.