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Microcap & Penny Stocks : Liteglow (LTGL) -- Ignore unavailable to you. Want to Upgrade?

To: AriKirA who wrote (2886)	8/15/1998 10:59:00 PM
From: Philip Bosco	Read Replies (1) \| Respond to of 4715

Perhaps a lot of what we saw on Friday was MM's games. I did have a long conversation with the TA(Transfer Agent) some time ago. The Transfer Agent said he was absolutely flabergasted by all the calls their office was receiving about LTGL. The TA is also the transfer Agent for over 200 other companies. I think something like 224 other companies but I don't remember the exact figure. He commented to me that it is simply ridiculous for people to be saying that Spencer is selling his shares and taking our money. I did comment to him that I know under SEC 144, Spencer could not sell as many shares as I own of this company. He confirmed that the company did sell shares earlier to finance the China deal and increase inventory. This information was also confirmed to me by Mike Krumholz. I assume the company sold some more shares recently to further increase product line, increase inventory and accumulate cash for acquisitions. I do not want to believe the company is selling tons of shares at these prices and dumping the money down a rat hole. Any CFO worth his salt would not be letting that happen. Particularly one that just recently joined the company. The Transfer Agent also told me that Spencer may be a little different from your usual CEO in a fortune 500 company but he said that Spencer is the hardest working Son of a Gun he has ever seen. The Son of a gun were his words exactly. He also told me that Spencer is doing everything he can to make the company profitable for the long term. This may be an accurate statement, although we could debate for months over which was the best path for the company to take to raise money and continue to grow. If Spencer would have wanted to make the most bang for the buck, the press releases would have kept coming relentlessly driving the stock up to $.50 a share or higher. Possibly up to a $1.00. A major sell-off from Spencer and other insiders would have occurred. This sell-off would have been their individually owned shares and not company shares. The Company would be done and game over. Spencer would never even have had to attempt a China deal or increase inventory or product line if he was figuring he would be gone and have taken his profits and closed up shop. Why even try to increase inventory for the Pep Boys, Circuit Cities, Trak Auto etc. or for that matter spend any money on any of these things. Just spend all the time on PR and advertising to push the stock and generate the hype. Another thing, why even hire a CFO who has pretty good credentials if you are only going to take the money and run in the very short term. Anyway, maybe shadow and some other investors are correct about Spencer but I don't see how the guy is taking the money and running. Most lawsuits against companies and their officers are due to the fact that the officers have committed fraud to increase the share price at over inflated values they know to be overinflated due to their fraudulent activities. The price usually holds for a period of time. At least enough time for the insiders to get registered and comply with every regulation requirement and then they dump their individual shares and take fantastic profits while the other investors get killed. I find it hard to believe that this is what Spencer was or is trying to do. If he was or trying to do this then he has really done a poor job and how is he going to make his big killing selling his individual shares at these prices. If the stock would have risen to astronomically high prices I definitely would have dumped my shares and maybe walked away with a million dollars myself. Maybe I should be mad that Spencer could not even do that correctly. All joking aside I have to believe that they are doing what they feel it right for the company for the long term. At least what they think is best for the company in the long run for themselves and for the shareholders. After all they are shareholders too, they just have more shares. I also have to have some faith in the new CFO. I find it hard to believe he would come over to this company and watch it dilute shares and pour the money down a rat hole and close up shop. But I could be wrong. The one thing that would bother me is if someone could prove to me that the officers are giving themselves and receiving absolutely obscene salaries. But revenues are increasing and new markets are opening up all the time. This is certainly good news for shareholders. The money generated from the company selling shares I hope is being put to good use to acquire other companies or otherwise increase the overall value of the company. Time will tell. I am long on LTGL. I have to believe the Officers are trying to reward themselves with the eventual increase in share value and that is certainly okay with me. Wow what a long post!!! I am tired and I have a jury trial coming up within the next two weeks. Good luck to all. I don't have the stamina to preview this long post. Any misspelling will have to stay. I apologize.