To: P. Allee who wrote (1688 ) 7/29/1998 11:31:00 AM From: JONK Respond to of 2232
P. ALLEE, I agree with you. Besides the high percentage of good legitimate businesses that fail in the first 5 years, couple that statistic with the majority of these BB companies that do not really put up any of their own money, but use shareholder money to totally fund their ventures. So what if they fail, the owners, (CEO..whoever) are not out any of their own cash, and probably have made out alright financially in the interim. As far as HNLY being legitimate, I really don't know. Like many other BB companies, they used to forecast on their WEB site that they would make xx dollars per year. I don't recall the actual amount, however the 5 year forecast was absurd. These people like to show big revenue $$ for the industry, and then sucker people in like they will, can, or even have a legitimate business plan to acquire a pct of their respective market. I don't doubt there are good, upcoming businesses, that will be profitable and legitimate. It is almost comical to see the non substance of information released by the company on their endeavors. My hat is off to those that do legitimate DD and try to keep the general investor community updated. You have to decipher hype from fact, it is challenging. I have tried this for 6 months and have decided that my tolerance level for this type of investing needs to be limited to more concrete and specific knowledge about a company. I just bailed out of LTGL, and now HNLY, then CSMA. I work as a contractor for MCI, had I bought MCI stock 3 years ago when I started at approx. $17 a share, it hit $70 a share recently. I compare the news releases and such to the stable Blue Chip companies, although recognition, revenues, and all that are substantially more with the Big Boys, their news release are based on fact, what they are doing, who is doing it, etc.....Along with audited financial reports -----required...why? to show fact! Good Luck to all! Jeff O.