Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : ABTX - Agribiotech -- Ignore unavailable to you. Want to Upgrade?

To: david cameron who wrote (6980)	1/15/1999 12:28:00 AM
From: M. Carver	Read Replies (2) \| Respond to of 8359

David, Well said! Yet it is still discouraging to have so-called experts gathered by Bloomberg say that certain aspects of the deal could cause dilution for existing shareholders....... I don't know, David Evans "reporting" is so bias towards his negative slant on the company. It seems the closer we get the impending ABTX announcement, the more garbage gets thrown about by Bloomberg. On a much more "objective" note, Darrell Minott posted a link to a Yahoo post that contained a link to an article written by a reporter named Brian Bubak of the Albany Democrat-Herald (don't laugh). His paper is located in the Willamette Valley of Oregon (where ABTX acquired Willamette Seed in August). People, do yourself a favor: Go to Darrell's post (#6979), go to the last link at the bottom. When you pull up the "Mid-Valley Business Network", scroll through the right page button until you find the ABTX article. (If anybody has David Evan's fax number - send him a copy of this article so he can see an example of objective and balanced reporting -- and see just how far off the mark he is on ABTX!). To save you a little time, here are the last couple of paragraphs word for word from this article (Dated December 24, 1998): "AgriBio Tech said the recent drop in its stock price is caused less by the company's fundamentals than by manipulation by major-league WS investors who profit from wild swings in a stocks price. John Francis, cofounder and vice president of AgriBio Tech, said Thursday from Portland that his company has been aggressively retiring its expensive short-term debt and has not been critically injured y the slump in seed sales this year. "We don't like what's taking place" in the grass seed market in general, Francis said. "We're taking our licks like other companies." His company is not in a grave situation, though, as some reports in the financial press have indicated, Francis said. AgriBio Tech has taken $7.5 million in cash generated from the Williamette Seed/Wilber-Ellis deal, $20 million raised from two sales of stock warrants and $25 million from a long-term loan to reduce short-term debt and stave off any threat to the company's stability, he said. In addition, AgriBio Tech has been looking for a buyer or "strategic partner" since October, Francis said, and recently may have found one. While he wouldn't release any details or say who the potential partner is, Francis did say that a deal is in the works that will transfer ownership of at least 20% and possibly all of the company. It will likely be announced in late January or early February, he added. That partnership and the "hundreds of millions of dollars" in capital it will generate will give AgriBio Tech the opportunity to pay off more debt and continue to acquire more of its competitors, Francis said. End of Article. Thanks Darrell for bringing this to the surface to be shared! There is truly powerful information in this article (particularly John Francis's quotes in the last 2 paragraphs above!). No more typing...off to bed now. Mark