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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: ALTERN8 who wrote (51864)	5/31/2001 3:34:48 PM
From: Rande Is	Read Replies (1) \| Respond to of 57584

Thanks much, Altern8'r . . . Today's read still hasn't panned out. And as much as I like PLUG, I refrained from jumping back in on the swing. Hoping I don't regret that move. Although at this moment we are again making new lows of the day on the A/D line. . . . now down 122. On another subject, I found the "Anti-Plug". EMEX [formerly HAWK] is a mining and exploration company that claimed last week to have something to do with fuel cells. biz.yahoo.com NOTE: A few years ago, HAWK was flatlined as a penny stock under a quarter. I have noticed that they try to associate themselves with fuel cells in many of their press releases. But it is primarily a mining and exploration company. . . like the many tiny stocks out their struggling to make a splash and get noticed. Here is an excerpt from their Yahoo profile: For the three months ended 3/31/01, revenues totaled $37 thousand, up from $4 thousand. Net loss increased 47% to $1.5 million. Revenues reflect the commencement of oil and gas sales. Higher loss reflects higher exploration, general and administrative expenses. Perhaps if they were to move out of their upper East side of Manhattan office building. . . they would not have so many increased administrative expenses. Here they are Negotiating $100 Million Financing for a new plant near Denver. biz.yahoo.com . . . a week later Accepts Proposal for $100 million in project financing. biz.yahoo.com Hardly news. But as the company admits in their annual report: There can be no assurance that the syndication will be successfully concluded. The funding requirements of the Company's oil and gas operations have been met in the past through a revolving credit agreement with and loan from a bank to which working interests owned by the Company in oil and gas wells are pledged as collateral. It is the Company's intention to continue that practice. Last week the stock was halted, when the NASD asked for additional information regarding their fuel cell claim. This week it resumed trading down sharply from the sudden spike above $30. And now there are further investigations RE: Securities violations. biz.yahoo.com Here is list of news: biz.yahoo.com However, I believe there is still plenty of downside left in this short-sell opportunity. . . despite our being late to the party. But be careful. The least news regarding fuel cells tends to get companies like these to spike sharply. . . so there is quite a bit of risk here. . . especially when they use "natural gas" and "fuel cells" in the same article. . . .despite whether or not they actually have something to do with either. But when I look at their fundamentals, I see they are selling at 3,757 times their sales, 232 times their book. . . are listed as losing about $6 million per year and have $698,000 in cash. Their biggest assets appear to be their wells, etc. Now I could be totally wrong. "Blue Star" could be the next big thing in Fuel Cells. But when I add up all of the above issues. . . I keep getting a big fat zero. . . and continue to see them as extremely overvalued. . .here at $15 bucks per share. . . half what they were last week. NOTE: Take this for what it is worth. Do your OWN Due diligence. Make up your own mind. Act on your own research. Be responsible for your own trades. Don't do as I do, without knowing why. And never be a blind sheep. Rande Is