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Gold/Mining/Energy : International Hi-Tech (IHI) -- Ignore unavailable to you. Want to Upgrade?

To: Raja who wrote (409)	1/22/2000 2:58:00 PM
From: on parole	Respond to of 461

I've followed this stock for a long time myself but never bought. It seems they are always way off with production timelines. Several months ago they were to be up and operating by June of 99. Can someone fill me in on what all the delays are about?? My take on it was that they possibly have a great technology but are not good managers. Leslie Anderson was the person I spoke with at the time.

To: Raja who wrote (409)	1/22/2000 5:17:00 PM
From: Ronald P. Margraf Sr.	Read Replies (1) \| Respond to of 461

Aha, gotcha. Now I know where I've met you before. Here. By the way, I still own this. Not much but enough. Sold most of it when we had the last big run up. I still follow it most intently. Keep it in my portfolio. I like it but they are just plain old slow in everything that they do.;-( If and when they get their act together this could be another ECNC or MICROSOFT. Generally I load up on this but its just not there at the present time.;-(((((( Hopefully this year we will be online and start making money. For now I'll wait to catcha on the upside, Ron

To: Raja who wrote (409)	1/22/2000 7:02:00 PM
From: Clement	Read Replies (2) \| Respond to of 461

Raja, I'm just curious what has made you bullish on this company. I watched a Business TV segment on International Hi-Tech which is how I came to be aware of the company. Having done some research on the company, there were far too many redflags that I found. I don't know if you had the opportunity to read the article that I posted clearly indicating that regardless of whether or not there is wrong doing, IHI is/was being investigated by the BC Securities commission. The article goes so far as to label the CEO a "controversial reporter". Granted, I realise that the reporter in question doesn't have a very good track record for recording facts in my book, but clearly something is amiss -- and there is likely some kernal of truth in the matter. But here are some of the items that really turned me off on IHI: - there are significant competitors in the new field of alternative construction materials -- ranging from American Home Products to Royal Group Technologies -- both with significantly more capital to fight for market share - there continue to be significant delays in getting their construction facilities up and running - they do not have a big name auditor - they appear to continue to need financing to fund their development costs and continued operations -- read dilution - there are far too many related party transactions (major red flag); for instance, a member of management, I would guess being either the CEO or some other person in senior management, was paid $54K -- translating to $216,000 for "project management fees" plus any salary that they are getting on an annualized basis; note that this is ridiculous considering that their salaries should already include their project management and the fact that they are consistently late on their projects - and then there is the subsidiary that shareholders only own 72% of and that would be sold to shareholders on a "best efforts" basis; this being a subsidiary that holds the technology rights for outside of Canada -- this deal stinks to high heaven because of the unknown true intentions of management, and given that it appears that shareholders will be diluted out of this subsidiary, the question is whether IHI will be able to generate enough profits from Canada alone -- and I would suspect no. Just a point of disclaimer, I own no companies except for Onex (because of their stake in American Home) who could be construed to be alternative construction material manufacturers in competition with IHI. I was interested in purchasing Royal Group but am wavering for a variety of other reasons. But my question stands, I'm not quite clear as to what makes this company attractive other than a few promises by management -- who to date have not been consistently forthcoming in the latest in-feuding that involves the BC Securities Commission. Clement