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Technology Stocks : JMAR Technologies(JMAR) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Franklin who wrote (4568)	12/19/1997 9:00:00 PM
From: Candle stick	Respond to of 9695

Paul, I would suggest calling the company to ask specific questions. I myself have spoken with Dr. Martinez and feel that the company has never been in better financial condition. There is no danger of running out of money, and there will be earnings for Q4 and have been decent earnings for some time now. The story is still the same , with several new products that should be receiving orders in 1998 (mostly from the Britelight laser division) As with many R+D companies JMAR has excellent patents but predicting when those patents can be turned into profitable products is difficult. I too share everyones frustration at the recent price decline. However, I have looked carefully at the financials and spoken with management and see that the story is still the same if not better(with the exception of CATS). Cal Asic will be finished draining earnings in Q4 this year and by February we will know what the ultimate impact is. I am led to believe that it may even be positive as the company indeed received back a large part of what was paid out originally, and there are several people interested in the equipment at Cal Asic. Jmar still owns 94%. I also expect the warrants to expire worthless, which I believe to be a good thing, since it would be dilutive to the company, and at the moment Jmar does NOT need the money. These warrants have acted to put a top on the stock for sometime now as traders have been trading around the excersise price and using them for arbitrage. Once they are gone, the top will be gone as well. If Jmar is successful in creating an 'equity carve out' of 1 or 2 of its divisions in the first half of 1998, you will see how fast the stock shoots up. Part of the problem is that JMAR is involved on too many fronts for such a small company. This "carve out" (spin off) would be just 10-20% of one or two of the currently operating divisions, which will allow it to be seen and covered as a separate entity by Wall Street. I believe that this kind of focus is necessary by the street in order for the stock to realize its true value. Currently IBM is building a Chip Fab in upstate NY that will operate using X-Ray lithography and synchotrons. This will be a big step in demonstrating the viability of X-Ray technology in chip production and will provide alot of attention for companies , such as JMAR, that are involved in the process. This IBM fab will be operating in 1999....much sooner than anyone ever expected. As more publicity appears about this , more attention will fall on Jmar. We really need to get that X-Ray lithography division 'spun off' (just a small percentage) so that the street can jump on board more easily, and not have to concern themselves with all the other products that JMAR is working on. Sometimes simpler is better. So, being a long term investor in Jmar is the only way to go. I am buying more on the dips, because I know that there is nothing to really worry about. Some momentum players are dumping at the end of the year for tax purposes since the timeline for big earnings is streching out a bit. In my opinion, 1998 will produce alot of sales in new areas and JMAR will be rid of the warrants and CAL ASIC's drain, so only good news remains to be seen.......best of luck to you........;^)

To: Paul Franklin who wrote (4568)	12/19/1997 9:03:00 PM
From: Bilberry	Read Replies (3) \| Respond to of 9695

Paul, you will notice that today, a lot of the long-termers were buyers today. Myself, Candle Stick, Betty. I think it is safe to say that we 3 feel that the decline in the short-term is temporary and that long-term we are going to do very well. I will try to answer your questions that you put to the best of my knowledge: 1)Does JMAR have customers ready to order Microlight, or are they just going to produce them and hope to sell them later? It is my understanding that they have some customers ready to take delivery sometime early in 1998. 2)What milestones has the XRL progam met and what timelines for the year are anticipated? I believe that JMAR has had successful demonstations of the XRL source in front of several large players. (I am guessing that IBM was one of them.) 3)How many customers have or are going to be buying Mirage? Good question. I think that Seagate and IBM are buyers, and maybe Western Digital. JMAR intends to greatly expand into the hard-drive industry in 1998. They have several other devices that inspect the disk itself and the armature. 4)Why is there not more information about the Lightning system used for CPU production? There was information on the last two videos that JMAR did. I suggest that you get a copy. The Lightning has been around a while, just did not have a name. JMAR started to give their devices names. 5)Where does the Light Knife stand and what timeframe is anticipated for market introduction? I would like more info on this myself. My understanding is that it is up to the company that is going to distribute them (BD). Apparently BD may want to use the light knife for other uses, including the introduction of drugs into the body via the light knife. This could be huge. Also, JMAR looking into Dental and other uses. This is a real sleeper. My guess based on incomplete info is introduction in the second half of 1998. FDA approval will be easier since others have gotten FDA approval. Always easier to get approval for a like device. 6)What happened to the Santa Fe Laser deal and what are the plans to replace that source? JMAR's due diligence shot down the deal. They probably are looking for others. A good idea since the majority of new products will rely on these diode pumped lasers. If JMAR controls the manufacture of these it will give them a competitive advantage. 7)How close are they to carving out CATS and what effect will that have on the balance sheets. I think this is very close to being resolved. I would expect it to be favorable on the balance sheet. JMAR has already taken losses in its quarterly reports. JMAR will probably hang onto certain portions of CATs that will help it with its businesses. 8)And why did they decide to limit the recent private offering other than concern about dilution? I think they felt that they had raised enough money to do what they needed to launch the Bright Light technology. My understanding of the situation was that the Swiss said they could raise the $10 mill. That is how they came up with that figure. Market conditions changed in the interim (remember the market decline?). That scared off some of them. Hope that helps... As to how a long-termer determines whether a stock is a better with a declining stock is a personal thing. I am looking at the increase in revenues, the fact that several new product lines should be ready to go in 1998, XRL will be more developed, Light Knife should be introduced, Micro Machining should be introduced also. And JMAR will expand its Hard Drive industry presence. As to price goals, I have had a goal of $20- $25 for quite a while. Currently my hope is to achive that goal in 2-3 years when JMAR is running on all cylinders. --Bilberry

To: Paul Franklin who wrote (4568)	12/19/1997 9:33:00 PM
From: Richaaard	Respond to of 9695

Paul, I'm not a long-timer on here but I do have definite opinions on when to buy and sell: ---Never buy because someone tells you its a good stock or a sure thing. Buy because you've done the research and you're comfortable with it. ---Sell when you feel it is time, not because everyone is or isn't. Be decisive on bad news and sell quickly if need be. If you turn out to be wrong, you can always get back in. If you're right, you still have your money and can move on.