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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (3686)	1/4/1998 10:39:00 PM
From: Kris Q.	Read Replies (2) \| Respond to of 7006

Dear Jim: Most people have forgotten that the only "completed" acquisitions in the 4th quarter (9-30-97) were as follows: 6-25-97 Addlestone International - Georgetown SC 8-20-97 New Facilty - Warrenton GA Many letters of intent were announced (Grossman, Mindis, United etc), during the 4th quarter, but only the two above were completed during that time. Generally, no acquistion costs are charged to quarterly earnings on "non-completed" acquisitions. Thus, this flurry of acquisition activity should not have affected 4th quarter net income. Most likely, the Warrenton facility was more expensive to create than was expected. This would be a good question for Alex. Also, I would like to register a mild complaint. The past two quarters, RECY has been late in filing 10Q's. Simply put, 90 days (9-30 to 12-31) is ample time to file. Maybe they need a new CFO who can can ensure timely issuance of financial statements. Investors have a right to accurate and timely information, no excuses about being "too busy" with acquisitions. Kris Q