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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: david james who wrote (1673)	2/18/1998 5:29:00 PM
From: dainy	Read Replies (2) \| Respond to of 2841

You guessed it, I am not an Eco shareholder and I would think twice before becoming one. On the other hand, as I said long ago, I am a DBCO shareholder. I have been aware of DB management problems and cash requirements, from all the official information, however, it looks like this is now getting cured with some new operating management in the underperforming subsidiaries. It was no great surprise that the American EGO proposal self-destructed, as I have said all along: no substance there and by the way, two more problems, one where are the numbers, two, rumor has ECO did some fancy creative work to produce documents on behalf of their financial institutions without their knowledge or as they say acquiescence, not the kind of creative work that made the ceiling of the Sistine Chapel, but the kind the usually decorates the records of those who reside in the basement of the Federal Motel. Probably, it was necessary since the truth would not have gotten ECO the money to do the DBC deal, bluntly, an alleged $80 million in net worth, remove $43 million in goodwill (hot air) and $12 million in a more than dubious receivable and you have $25 million in tangible net worth with $65 million in a bank debt outstanding. With no numbers for 1997 on top of this, there is no bank that will advance them a nickel unless ECO, as part of its plan, would blow off McConnell Dowell and sell off Canadian assets to pay itself off, keep the balance and let all the DBCO suckers hold worthless Eco paper. Good riddance, DBCO doesn't need Eco to do the same thing and dividend out the money. But that is what those myopic bladder brains have trumpeted as being good management. While most of the challenged investors have jumped on the DBC management bashing wagon, they have missed out on a very important point - it has been said that Sanda were stupid to pay $2.60 but they may be crazy like a fox since it has also been said they are bringing in management not just bucks. Looks like there are some smart guys picking up stock at 1 1/2 to 1 7/8 and some awfully thick ones selling, but great! We get new blood in, at these prices, I'm in and buying MDC at less than what it costs on the ASE.