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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy) -- Ignore unavailable to you. Want to Upgrade?

To: Tupulak who wrote (910)	8/24/1999 11:11:00 AM
From: John Gorham	Read Replies (2) \| Respond to of 1208

To anyone with information: There seems to be a generally negative feeling about this stock. But I am puzzled as to whether there are any clear reasons why its drift downwards suddenly accelerated toward the end of June. I note a criticism of management, and claims that changes need to be made, but I can find no specific evidence that the company is being badly run, apart from some dissatisfaction with its shareholder relations. Can anyone come up with specific reasons for doubting whether Mr.Maller's assessment of 7 April should not be regarded as being applicable today? I can speculate about possibilities--and the lack of definite news encourages speculation, which is not a good thing for the company--but my speculations are simply an attempt to fill in the void created by a lack of information. Possibilities: 1. The company is not being run efficiently. But Mr.Maller estimated fiscal 1999 eps at about 8 cents. Unless the audited report shows a drop below this figure it is not likely to explain today's low share price, nor to be evidence of bad management. If his estimate is correct we should be looking for further news. 2. There is a serious problem with working capital. Well, we are aware that there has been a problem. Has it been resolved or is it still there. And how great is it? 3. There are problems in production. For example, is it turning out that C.O.C. failures are higher than anticipated by the five year guarantee? I emphasize that these are pure speculations by someone "not in the know." Has anyone any definite information that would help us make a reasonable assessment? I fear the 1999 fiscal report, when we get it, may not throw much light on the situation in August 1999. John