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Gold/Mining/Energy : GPW Group West Systems Ltd. (Year 2000 Software Company) -- Ignore unavailable to you. Want to Upgrade?

To: Nathan Hansen who wrote (523)	4/26/1998 11:01:00 AM
From: Mr. Forthright	Read Replies (1) \| Respond to of 1443

Nathan: Far from me to think that the only thing that GPW has to offer is a group of cheerleaders on the Internet. Let me explain to you what I think GPW has to offer. I will do so by separating the facts from speculation. FACTS: 1) GPW is grossly overvalued when taking into account the performance of its existing business. 2) GPW's management over the last twenty-two years has shown a lack of ability or desire to grow their business in any significant way. 3) The Y2000 problem will create opportunities for software companies (big and small) for three to four years. 4) The consolidation currently taking place in the IT business combined with the fact that outsourcing in that sector is increasing provides GPW with an opportunity to increase shareholder value. 5) Growing through acquisitions is an art that only a few entrepreneurs or professional managers are able to perfect. 6) If a public company trading at significant P/E ratio acquires and successfully integrates a company with a lower multiple there is significant value for the public company's shareholders. SPECULATION: 1) Will GPW be able to identify, acquire and successfully integrate small or large private companies? 2) Will GPW be able to successfully capitalize on the potential of its INTO 2000 product? 3) How large is that opportunity? As you can see where we may disagree is on the answers of the last three questions. Everybody on this thread seems to be convinced that these answers should be hugely positive. I happen to have my doubts about it. There is no question that GPW's inflated stock price gives it a unique opportunity to raise money with very little dilution or to acquire companies for stock with little dilution. I happen to think that the track record of GPW's management over the last twenty-two years raises DOUBT in their ability to pull it off. Time will tell who is right. To be successful in the investment business you have to be able to ask yourself some very tough questions and constantly ensure that your answer to these questions is rational and based on facts, not emotions. Nathan, you and others, on this thread or privately have clearly demonstrated that you welcome an opinion different than yours. Although this message is addressed to you it should really be addressed to the LD's or AH's of the world. Should GPW go to twelve dollars in the next three months they will think that they were right and that I was wrong. That will prove that they missed my point. What we need to do is to focus the debate on my last three questions and monitor the company's progress in these areas. If GPW has sales of, let's say, $60 million in the year 2002, and earnings of, let's say, 50 cents per share, you guys would've been right about management's ability to pull it off. However, if that is the case the stock should only trade then at around $10, which will not give a great return to the shareholders over a five-year period. In the meantime the stock may go higher than $10 on speculation. Are you guys buying to make money on a speculative investment, or because of the company's long-term fundamental prospects.

To: Nathan Hansen who wrote (523)	4/26/1998 12:54:00 PM
From: Sam	Read Replies (1) \| Respond to of 1443

Nathan I read a while back about the Las Vegas office getting some contracts from the big gambling casinos,I have never seen any thing else to confirm it or any casino names .As some of the casinos are huge companies as well as very rich with lots of cash to throw around ,these would be very lucrative accounts which build companies on well after the y2, Seeing as how our province of Ont,is building its future wealth around casino building. Has anyone else heard anymore on this? SAM