To: Sam Lee who wrote (2588 ) 3/17/1999 5:31:00 AM From: Edward M. Zettlemoyer Read Replies (1) | Respond to
Sam, What I am saying is not just talk, is it the past history of the company. Now let you give you a more constructive opinion. I think if Abacan were to work the Altman's Bankruptcy Predictor Analysis backwards, they could more efficiently determine the extent of the reverse split to be initiated. Instead they choose to use the "speculation price" of the day and reverse split it up to $1.80. Is this speculation on top of speculation or what. I hate to sound like a whiner, but I think there are a lot of people who would agree that it would be a good sound business practice to offer something more tangible to support the price. Even a vague statement like "the company feels it has adequate reserves to maintain a price of +$1.00 after a # for # reverse split." Right now I have a little red ink with this company but not a bottle full, this does not disappoint me, it's all in the game, X blow-out zone was an exciting possibility at the time. What I do find disappointing, however, is management itself, they fail to deliver any sound insight or future possibilities of Abacan's survival.
