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Microcap & Penny Stocks : ALYA Cost cutting system via software as well as security -- Ignore unavailable to you. Want to Upgrade?

To: TLWatson59 who wrote (1929)	10/23/1998 8:32:00 AM
From: John S. Baker	Respond to of 2534

OFF TOPIC -- general investment philosophy "My position however still has not changed in that I need to see "audited " financials and sales figures before I even risk "risk capital." That's a pretty decent definition of what I call "preferred entry point on the risk curve." In general, I agree. The growth cycle of a small company often follows the progression: (1) idea, (2) capability, (3) organization, (4) full audit (to USA GAAP), (5) profitable, (6) fully-reporting, (7) listed on NYSE, Amex or NASDAQ. As a company achieves a certain step, both the risks and the potential rewards generally go down. Most of us here on SI are either traders or we are in search of the next Intel or Microsoft. What differentiates us is where we are in that search process. FWIW, my risk tolerance dictates that I restrict most of my investing to companies which have reached Step 4 above and which are selling a product and the product is "staying sold", ie repeat purchases or some other indication that people who have actually bought it also like it. In addition, I try to find companies in which someone "smarter than I" has taken a position, ie a venture capital fund, a strategic partner investment, or some such. ALYA is one of my exceptions to that general rule, and that's why my position is a modest one. Happy Due Diligence. JSb.