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Microcap & Penny Stocks : DCH Technologies (DCH) -- Ignore unavailable to you. Want to Upgrade?

To: James E Lynch who wrote (1280)	4/27/1999 5:30:00 PM
From: Sid Turtlman	Respond to of 2513

James: Interesting timing on this meaningless fluff press release - just as the stock is falling well below $1 on heavy volume. The company wouldn't be trying to help some of its buddies unload, now would it? The main thing that I would like to see coming from DCHT is an audited financial statement. Last we heard, it was supposed to be coming out in early April around the time of the hydrogen convention. It can't be that hard to put together - the company does so little business that had the auditors taken off their socks so they could use their toes as well as fingers to count, they would have it all done by now. Unless, of course, there is a different reason why we haven't seen it yet: my earlier guess, that the DCHT would never submit an audited statement because the auditors could tell just at a glance that the company has no money to pay them, is looking more plausible every day. Also, courtesy of someone on the Raging Bull thread, here is a posting from last June in which DCHT's president predicted 1998 sales of one to two million dollars, and claimed that the company had a $600,000 backlog at that time: ragingbull.com Earlier this year we discover that (unaudited) sales for 1998 were actually around $200,000 (and I wouldn't be surprised to see the auditors take some of that away, if there ever is an audit.) So that big contract with what turns out to be an imaginary customer is not an isolated incident at DCHT. Press releases like today's might suck in some morons in a hot stock market, but without audited financials, this company will never raise the money it needs to achieve any of its professed goals, or even stay in business.