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

To: Mad2 who wrote (495)	1/9/2000 1:07:00 PM
From: IJReilly	Read Replies (1) \| Respond to of 542

Mad2- There has been some dilution to UCOMA since the UPCOY IPO, so UCOMA now represents only about .77 share of UPCOY, I believe, so the discount is not as great as you indicate. Another big difference in these two situations is that UCOMA has $5 billion in debt, so its "enterprise value" exceeds the value of its holdings. MKTY has no debt on its balance sheet. I agree with you that the market sets its own values and to think one "knows better" can often be foolish. As you pointed out,though, the market has been discounting these situations at up to 30-40%, occassionally 50%. This is a relatively extreme situation that I hope can be capitalized upon. Thanks for pointing out the MMWW situation, I've been following that as well. take care IJ