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Technology Stocks : GALTECH SEMICONDUCTOR MATERIALS CORP. (GTSM) -- Ignore unavailable to you. Want to Upgrade?

To: gammaray who wrote (263)	2/12/2002 11:04:13 PM
From: Mahatmabenfoo	Read Replies (1) \| Respond to of 394

-- One that comes to mind is the announcement about selling -- a partnership in the motor div to Adams and Ass sometime -- around 1996. Ah, yes, the $10M for the motor. Recent developments with the motor are more disturbing. GTSM's SEC reports indicated that the motor patent was owned by a subsidiary which no longer exists because GTSM let it's existance lapse. As a result, my theory is: - NO ONE owns the patent -- it's owned by an unrevived subsidiary, so there's no entity in existance to enforce it; or - the subsidiary lost its patent rights when it disappeared, resulting in the patent reverting to the original inventors. I mentioned this theory online to a lot of heat -- but recent events have confirmed it! It is confirmed in particular by GTSM's recent announcement that it had transferred its motor tech to a new company -- coincidently comprised of the original inventors. GTSM supposedly has various rights to profits, but since the new motor company is UNFUNDED this looks to me like a face saving way to say they blew it. Any high tech company can take a long time (or eternity) to honestly try to find itself -- but since GTSM's existance is based on its 1987 miracle which remains unrepeated, and since it keeps issuing wildly optimistic press releases despite what really looks like many shades of failure, I don't thing "honesty" is this company's strong point... Good luck! The problem with jumping in a market when it's in its lowest point is it could always go lower; but maybe this is opportunity city. I hope so. But there's gotta be better risks than GTSM. - Charles