From Penny Picks>>>
April 3, 2000
Technical Ventures Inc. is a manufacturer of proprietary thermoplastic
compounds. The stock was given a 12 month target of $5 by Weston Partners.
The company recently announced that as a result of an overwhelming market
response to its product lines, it will begin operating at maximum
production capacity on three shifts per day.
The Company owns valuable patents and licensing agreements on composite
products.
Weston Partners LLC Issues Buy Recommendation with a 12 Month $5 Price
Target.
To view Weston Partners' report online, please visit
westonptnrs.com
Technical Ventures Inc.
Ticker: (OTC: Bulletin Board: TEVT)
Get Quote: quote.yahoo.com (delayed)
Price: .96
Latest PR
March 22 - Technical Ventures Inc.'s Subsidiary, Mortile Industries Ltd.
to Provide
Compounding Facilities to ReBASE Products Inc.
biz.yahoo.com
Quarterly Report (SEC form 10QSB)
biz.yahoo.com
Liquidity and Capital Resources:
During the first six months of fiscal 2000 the company incurred a loss,
however, during the second quarter the company had two profitable months
of operation resulting in a marginal direct operating profit for that
period. This profit excludes compensation and financing charges expensed,
as well contingency related
legal expense. Six month sales revenues, on a monthly basis, have been
increasing. The six month operating loss was funded by debt financing and
sales revenues.
The company has been able to reduce balances due vendors and creditors,
however, monthly debt service requirements, aggregate payments of $
75,354 towards contingency related legal costs; aggregate payments of
$5,410 to the company's auditors and $5,000
additional legal expenses paid to the company's securities counsel for
services relative to the SB2 Registration, leave the Company in a position
where it has difficulty in being able to meet its monthly cash flow
requirements.
Two of the Company's long term debt financing arrangements, Note 4, are
currently in arrears, as such these debt's continue to be reflected as
current liabilities on the December 31/99 balance sheet. Both debtors
clearly understand the Company's financial
position and as such have verbally agreed to a moratorium on principal
repayments until the Company is in a financial position to make a payment
[s] or suggest an alternate and acceptable method[s] of settlement.
Conclusion-
As stated in form 10QSB, the Company is in need of additional financing if
they are to meet their objectives and continue operations. There is a very
high risk/reward ratio here. Investors who will play this stock should
understand the current financial
situation of this company otherwise this may be a good shortterm option.
Momentum is starting to move into this stock for this week.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS: Except for historical
information contained herein, all forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Reform
Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties, which may cause a company's actual results in the
future periods to differ materially from forecasted results. These risks
and uncertainties include, among other things, product price volatility,
product demand, market competition and risk inherent in the companies
operations.
Happy Investing
PennyPicks
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