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Microcap & Penny Stocks : Tracker Corporation America (TRKR) -- Ignore unavailable to you. Want to Upgrade?

To: pete2 who wrote (262)	1/24/1999 7:46:00 PM
From: t.gawarecki	Read Replies (1) \| Respond to of 1877

Copy of Jeff Grossman's comments on TRKR: SmallCap Investor News January 23, 1999 Issue #128 smallcapinvestor.com Jeffrey A. Grossman, Editor A FinancialWeb publication financialweb.com ----------------------------------------------------------- HIGH RISK speculative stock picks (Also Known As: A gamble) ----------------------------------------------------------- THESE PICKS ARE INAPPROPRIATE FOR ALL BUT THE MOST RISK TOLERANT INVESTORS. Tracker (OTCBB: TRKR - $0.15 bid, $0.155 ask) TRKR received commitments for a total of $3.25 million in equity investments last week. A $3 million investment is from a German investment management firm and a $250,000 investment is from Symbol Technologies (NYSE: SBL), the world leader in bar code technology and data management systems. Symbol's annual revenues are nearly a billion dollars. Tomo Razmilovic, Symbol's President and COO, commented, "I would like to express our commitment to support The Tracker Corporation in becoming a world class provider of global property tracking systems." Bruce Lewis, Tracker's CEO, stated, "Tracker is excited that Symbol, already Tracker's strategic business partner, has expressed its faith in Tracker by making a commitment to also become an investment partner as a Tracker shareholder." With these investments, Mr. Lewis said that Tracker will now have the working capital to focus on its core business and pursue its key initiatives. "Among Tracker's immediate priorities is to add additional brand names to a customer list that already includes Warrantech, Samsonite, Schwinn, and Sony. These customers appreciate the value of Tracker's technology. We intend to work hard to win the business of many more." Symbol and the investment management firm are buying Tracker Convertible Senior Preferred Stock at $0.50 per share. The Convertible Senior Preferred Stock pays an annual dividend of 7.5% and is convertible into common stock on a one-for-one basis. I'm very impressed that these firms are willing to pay $0.50 per TRKR share when the stock has recently been as low as 5 cents. With most OTCBB companies out there, the Preferred Stock would probably have converted into ten or more common shares of stock, rather than just one. These firms were willing to pay significantly higher than market price for TRKR shares and the primary "extra" they're getting is the 7.5% dividend. Of course, if they tried to buy $3.25 million worth of TRKR stock in the open market, they'd probably drive the stock price much higher than $0.50 anyway. Press releases: biz.yahoo.com biz.yahoo.com Our previous comments on TRKR are available at: smallcapinvestor.com -----------------------------------------------------------------