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Microcap & Penny Stocks : ADTC -- Ignore unavailable to you. Want to Upgrade?

To: pres/ceo who wrote (271)	5/15/1998 12:07:00 PM
From: MC Niemi	Read Replies (1) \| Respond to of 329

First Q 98 results are out. Revenues increased by over 90% (I would assume this is from acquisition growth not internal growth). Company posted a loss for the quarter. One now has to wonder if the companies predictions for .30 in earnings for 98 are in jeopardy (and this is from a reduced .50 to .40 and now .30). Last year the same thing happened. Management continually reduced estimates for the year. This is bad. Investors feel deceived because it gives the impression that management has no clue about its business. In this market it is always better to beat expectations. For the past 2 years with AD Tech it has been nothing but disappointments. No wonder investors are bailing out of the stock. With the loss one now has to wonder about the potential refinance problems. When you are making money it is easy to refinance debt. When you are losing money you get screwed as the lenders have the upper hand. this is something of grave concern that we should all be watching for. MC