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

To: Bron-y-aur who wrote (1019)	7/3/1998 8:44:00 AM
From: Investor 007	Respond to of 1535

You're right. Same old pattern. This stock always dies in the summer. Some years it gets revived with hype, although we shareholders are less likely to buy the BS next time. Grecco says he will sell 1,000 Touchstones this year; even after stupidly telling the world that a $200 unit is around the corner. In my opinion, the sale of 1,000 units is already built into the share price. There is already considerable expectation in a $2.80 price, since revenue from the 1,000 units would be less than 1 million. Gross profit is only a few hundred thousand. Based on Mytec's financials, I estimate their burn rate at about 4 to 5 million per year. So Grecco's promised sales will only pay the freight for about one month. Therefore, sale of 1,000 units adds no real value from this stock price level. Grecco would have to do about 10 million in sales to even come close to moving the stock price from an earnings perspective. Not too f-----g likely! At the half way point in the year, he has only sold 50 units or just 5% of his very modest target. Either he can't plan or he can't sell. In either case it spells trouble for us shareholders. I hope the board of directors soon figure out that this guy is a loon and take some action to replace him. The insiders can see what's really going on. That's why they all dump stock at $3 to $4. The biggest insider (director) is a real slick dude. I overheard a conversation he was having at the shareholders meeting a couple of years ago. He is a stock market shark and promoter. Watch out. He knows that no-one would ever buy Mytec at current prices. That's why he tries to liquidate a couple hundred thousand shares whenever there is a run up in price. I charted insider activity against stock price. Very interesting. Tomko and Mareno were the worst offenders. Hollingshead has been fair. So has Rolf. GRECCO HAS NEVER PURCHASED ONE SHARE. What does that tell you? Grecco's not prepared to risk 10 cents of his own money to back up his bullshit plan, though he'll happily take 600,000 options at prices as low as $1.50, on the hope that he can hype the stock and unload some along with all the other insiders. Despicable! I would have expected much more from a $200,000 a year executive. The only thing Grecco seems to be able to run is the GRAVY TRAIN. Woo. Woo.