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Microcap & Penny Stocks : DCH Technologies (DCH) -- Ignore unavailable to you. Want to Upgrade?

To: Dan B. who wrote (1787)	6/29/1999 5:44:00 PM
From: Sid Turtlman	Read Replies (2) \| Respond to of 2513

Dan B.: Nice try, I can understand why you would like to believe what you have posted, but it just doesn't fly at all. I had not noticed that press release from MTEY dated June 22, 1999 announcing the formation of Antaeus, so thank you for calling it to my attention. It further condemns DCHT's February press release. In that release (http://biz.yahoo.com/bw/990622/ca_materia_1.html) MTEY "today announced that it has formed a new entity, Antaeus Research, LLC,..." The way the English language usually works, that means that Antaeus was just formed in June (i.e. "new") not in February. The matter should be cleared up by the August 15th deadline for MTEY to submit its Q2 10-Q to the SEC. We'll see what it says, but I expect to see something in the 10-Q to state that Antaeus was formed in the June quarter. This release also states that Antaeus has virtually no money. Read the description of the capitalization: "Upon contributing their respective proprietary technologies, each (i.e., MTEY and SIMS) each will own approximately 45% of the LLC." The remaining 10% will be owned by the CEO. Note that no one is getting stock for investing a penny - there is no evidence from this release that anyone has put up much in the way of money. Contributions of technology are not cash. That isn't surprising, if you have read MTEY's SEC documents - it had all of $20 in the bank in December. The March figure is somewhat higher than that mostly because an officer lent the company some money. MTEY seems to be struggling financially, and not in a position to finance any fancy research projects. Maybe SIMS has some money, but they don't appear to have contributed it to the joint venture. This further affirms that DCHT's February claim of millions in Antaeus business to be coming in soon was, to put the nicest possible interpretation on it, wishful thinking.