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Microcap & Penny Stocks : ITEC classic turnaround with Internet twist -- Ignore unavailable to you. Want to Upgrade?

To: TraderTerry who wrote (184)	2/19/1999 10:54:00 AM
From: Michael Baron	Read Replies (1) \| Respond to of 431

All of a sudden, ITEC is a "long term" play, whatever that means. I think it will be a while before the price rebounds, as they have a mountain of work to do. The earnings were disappointing, to say the least, and the vaunted European and Russian distribution channels don't seem to be producing as expected. I'm also concerned about the issuance of various classes of preferred shares, which usually carry first-distribution-of-profits clauses. The float of 100 million just got diluted, and the holders of common stock just got the shaft. With a relatively small percentage of shares outstanding from the 100 million, how will Bonar use the unissued balance, and what effect could that have? I'm not pleased... Very curious about today's interview. Have things changed at all since the quarterly results? Will they be upbeat, and give current data to support a "turnaround"? All the best, M.