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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (4324)	1/31/1999 11:03:00 PM
From: david james	Respond to of 4634

Well, it will be interesting to see which direction the stock goes in the next couple weeks and months. Institutions may make mistakes, but right now it appears they are going long on ABTE. Its just a microcap with a current market cap around $120 mill, so it won't take much buying to move it. And it has doubled in the last month despite a large number of press releases by Asensio. I assume your were joking with that comment that revenues will be negligible. I think the contracts already in place are enough to get revenues over $400 mill this year. The contract with New Jersey alone is almost $500 mill. Even the detractors who have studied the company have not argued with the potential revenue stream. The question has been whether ABTE has enough cash to handle these large projects, and whether current ABTE management has enough expertise to run those projects with a profit. With earnings and the 10k out shortly, these are the sorts of questions that will be addressed. ABTE does need financing and some new management to help with MFSNT, and it has been suggested by Kaufman that this is imminent. Kaufman is certainly as biased towards the positive as Asensio is biased towards the negative, and both have put their money, or their clients money on the line. It will be interesting to see how it turns out. Still, I suspect there are better shorting opportunities out there. DJ