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

To: billkirn who wrote (507)	1/26/2000 2:47:00 AM
From: billkirn	Respond to of 542

Corrected formula: If Mechanical technology stock price was based only on 60% or 50% of the 32% ownership of Plug Power it would look something like this. Assumes: 43m shares for Plug Power and 12.3m shares for Mechanical Technology 40% Discount 50% Discount Mkty Price = 0.60 x Plug Price x 43/12.3 x 0.32 (corrected) Plug Price Mkty(40% discount) Mkty(50% discount) 131 $87.93 $73.27 Examples 50 $33.56 $27.97 75 $50.34 $41.95 100 $67.12 $55.93 150 $100.68 $83.90 200 $134.24 $111.87 At todays price it looks like the market is giving Mechanical a 53% discount or more. We should keep track of this number to better predict Mechanical's stock price relative to Plug Power. I will work out the impact of Satcon later. Bill Let me know if you have a different calculation.

To: billkirn who wrote (507)	1/26/2000 7:43:00 AM
From: Fisherman1	Read Replies (1) \| Respond to of 542

MKTY has outstanding 11.6 million shares MKTY issued 100,000 warrants at 37.75 to SATC in return for warrants on 100,000 SATC at 8.88 MKTY has 11.7 million shares outstanding not 12.3 !! I am not sure it is necessary to take the 40% discount as there are tax free owners of MKTY: IRA's, OFF SHORE, and tax advataged or tax free funds

To: billkirn who wrote (507)	1/26/2000 6:31:00 PM
From: billtucker	Read Replies (1) \| Respond to of 542

I am not sure that the market is giving a conscious discount to MKTY. Every share of MKTY represents about 1.2 shares of Plug. I believe Plug has gotten more publicity then MKTY and most people aren't aware of this relationship. In the last couple of days MKTY has gone up and Plug down; part of this is probably people realizing they can sell plug and buy MKTY and own more Plug for the buck. I suspect they will get closer together and then move in unison.