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Gold/Mining/Energy : GEAC.....Canadian best kept secret -- Ignore unavailable to you. Want to Upgrade?

To: AChan who wrote (803)	7/1/1999 1:30:00 PM
From: micromike	Read Replies (1) \| Respond to of 1571

Would GEAC release warning if they didn't do well. Yes they would because that's what happen last quarter. Since I've been following them for about 5 or so years last quarter was the first they have missed the quarter in a long time. My theory is that they made the numbers considering. The CEO has recently bought 200k in shares just around the end of the quarter. They recently bought around 27 million in stock just around when the quarter ended and said after the purchase they still had 200 mil plus in cash left over. So 27 mil = 44 cents/share. They could make about 2 mil on short term investments with the 200 Mil which = 3 cents/share so now we have 47 cents/share. I think they carried 5 mil over for Y2K problems. Putting this all together it looks like they should have no problem hitting the 48 cents. Considering what has taken place it didn't building confidence in the shareholders considering the share price fell back down to the 25 buck range. Spending this money also led me to believe that they have no major plans for a large purchases considering they spent 27 mil. So hitting the 48 cents doesn't seem like the problem. The way the shares are trading it looks like the street is waiting to see what kind of effect the Y2K is causing. I think if they can show the Y2K is slowly going away with some strong earning like over 55 cents then this might get things going again but the opposite is true if the Y2K is causing problems then we will just hover around this price level. JMHO Mike