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Technology Stocks : Applied Cellular Technology (ACTC) -- Ignore unavailable to you. Want to Upgrade?

To: incomep who wrote (856)	3/31/1998 12:44:00 PM
From: caledonia	Read Replies (2) \| Respond to of 1062

I have many questions that the earnings release did not address. That alone raises my level of discomfort. Sullivan did not go into any detail whatsoever about the core business (does anyone know what it is?). He misled investors about the impact of leaving the cell phone business. At the end of Q3, he stated that the exit from that business would have no material impact. Also, his comment about the stock price was not well advised. If you want to raise the stock price, show us good, solid numbers and not accounting gimmicks (such as including the last acquisition in the release. I assume it was because there was no pro-forma number). Again, no explanation. I also have questions about their auditors. Anyone hear of them? I would feel more comfortable if they employed one of the Big Six. If Sullivan thinks they should be in the Major Leagues, then he should step up to the plate and hire a national firm that would ease investor concerns about all of the acquisition related accounting treatment. There can be a lot of creative gimmickry when a company grows this quick. Also, Sullivan bragged about the increase in SE. Let me ask this-how much of that SE is intangible (goodwill)? Last, but perhaps most importantly, what is the strategic vision of this company? What is their focus? I am not ready to abandon ship, but I want to know if the ship is seaworthy. Right now, I'm not getting the answers I need. The 10-Q should give us a clearer picture ( to be filed shortly).