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Gold/Mining/Energy : MYT - Mytec Technologies -- Ignore unavailable to you. Want to Upgrade?

To: James Bliss who wrote (969)	6/5/1998 9:23:00 AM
From: Investor 007	Respond to of 1535

Sorry James, you're mistaken. Grecco announced a hardware product for $200 in response to a reporter's question about competing against other low cost readers. That's fact. Biometric encryption has been in their literature for years and I understand what it does. It adds a layer of security Mytec claims others don't have. So, its an extra piece of software. The point is, if the hardware is worth $200, how much is some additional software worth? And will it really make a difference to revenue? Does it really work? Is there really a market for it? None of these questions are ever addressed in their literature. So far its pure bunk, just like Cybermouse. Maybe the TRW deal was a letter of intent, but the company advertised it as a reality. If the product worked, TRW would not have changed its intent. Regarding the certification, many self serving bodies take money from companies to give blessing to products based on some contrived standard. The real test is will any paying customer fork over cash to get these units. So far, that has not been the case. Don't get me wrong, I appreciate the developments the company has made in technology. I just don't think Grecco and his predecessors have been honest about the market. They said it was a 10 billion dollar market several years ago, yet so far they've earned less revenue than they could get from a Pizza Pizza franchise. I think Counterforce is great, but Mytec has invested 10 to 15 million dollars in fingerprint technology, with no real prospect for any return. That's my fear. And my greater fear, is that deep down Grecco knows that, but he won't admit it because it's against his personal interests. Basic human nature often prevents people from admitting they've been lying until they're very close to getting caught. Mytec was close to caught because it's out of money. That's why they went to the bank, so they could extend the lie (and prolong the agony). But Mytec isn't alone, My broker says none of its competitors are making any money either. That tells us the market is not there yet. And when it gets there, will Mytec still be viable? Maybe. But only if it stops lying to its shareholders. So far Grecco has failed on that count. I doubt that will change at the Annual Meeting. He'll get up and tell the big story. It's company tradition. That's what my broker says.

To: James Bliss who wrote (969)	6/5/1998 9:34:00 AM
From: oss	Read Replies (1) \| Respond to of 1535

I have a few things I could add here as well to help let us know where this is going. The TRW deal has seen TRW buy 150 units. It is my understanding that when the units where installed TRW had a different software running for security. TRW have supplied Mytec with a copy of the security program and Mytec has been working it into thier touchstone product. This project is very much alive. They do however only have about 30 units installed at this point and it is used for Network Security. Clients want a top end product for this type of actions and Touchstone is just that. Cost of the Touchstone unit should not be compared to other products as it is a high end device. The cost of the units is not a problem for those that want this type of product. Mytec is selling a solution not just a product. Cybermouse is dead!! Something will be replacing this product for the low end market. I for one am very glad that Mytec has a high end product as well as a low end product. The high end product is going to bring in the cash cow not something under $100. They need sales at this point big time however. There where also a few concerns about the options Thomas took. It is my understanding that he is at 400,000 shares at $3.74 per share. Thomas has 5 years to make this work and he has only been there one year. The options I was told have been done as the stock dropped and Mytec want to keep the staff they have. This type of industry loses good people all the time and Mytec wants to assure they keep the leaders in this product design. Mytec have put this in place to assure they keep all the same staff. This could be important down the road. Keep the pressure on but give the man a chance. If nothing else 007 might have woke a few people up I guess. Lets go Thomas we need some big news soon.