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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: GLE who wrote (2355)	6/24/1999 7:51:00 PM
From: blue_chip	Read Replies (1) \| Respond to of 6016

I like the last paragraph of the report "In conclusion, from a big-picture outlook, we can visualize a very large opportunity for the Company. If Global continues to be successful in its development process and signs strategic alliances, there remains a great deal of upside potential for this stock. However, this potential is not without its risks. If the Company is not successful in its development, it would be difficult to justify the current valuation. However, based on research. we believe that Global is positioned to enter the remote market in f2002, which justifies a target price of &15.00. We note that our assumptions leave a significant amount of revenue potential off the table by excluding the mass market applications from our current valuation. Both the home co-generation and transportation markets are huge, and therefore minimal market share would represent significant revenue potential for the Company. As mentioned previously, it is estimated that the auto market alone could amount to US$9 billion by 2007, approximately ten times greater than our estimate of the remote market. Therefore, the inclusion of the mass market applications could increase our estimates significantly, and in turn our current target price of $15.00 would change multifold if these markets came to fruition." I've requested an electronic copy of the report so that it may be seen in its entirety. Chip