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

To: Dan B. who wrote (1520)	5/16/1999 6:44:00 PM
From: Sid Turtlman	Read Replies (1) \| Respond to of 2513

Dan B.: Evidently you have a problem with the normal usage of the English language. Here is the first paragraph of DCHT's notorious press release: "DCH Technology, Inc. (OTC Bulletin Board: DCHT - news) announced today that it has been selected by Antaeus Corporation for incorporation into its technology suite for use in its ''smart'' bridge monitoring system. The Company will provide its proprietary Hydrogen Sensors to be used for corrosion detection associated with aging bridge structural members. Antaeus is to provide Pulse(TM) -- the world's first totally automatic ''smart'' bridge monitoring system. DCH estimates this application at over $1 million in annual revenue going into the millennium." Now one can argue about the meaning of the poetic phrase "going into the millennium", but I suspect if a poll were taken of English speaking people, the overwhelming majority would think it meant 1999. This is 1999, and we are going into the millennium right now, in my opinion. There are some people, however, who believe that the millennium doesn't start until 1/1/2001, so to them the year 2000 would be "going into the millennium." In any event, after 1/1/2001 all English speakers will be sick and tired of millennium hype, and would agree that we are no longer "going into the millennium" anymore. Follow me so far? Any normal person, not desperately trying to make excuses for a company caught in a lie, would think, reading the first paragraph of the press release, that 1) Antaeus exists, and is not just someone's idea of a company to be formed at some later date if they can talk the government into coughing up some R&D money, 2) that Pulse (TM) exists as a commercial product either already being marketed or about to be marketed, and is not just a product that will be designed some time in the future if its prototype is shown to be effective in the R&D tests and enough money can be raised to pay for employees to turn the prototype into a commercial product and market it, and 3) DCHT can expect to be getting orders at the rate of more than $1 million per year by later in 1999 or 2000. This is not some bizarre reading of the paragraph, I don't think. It is what a normal reasonable person familiar with the English language and the conventions of press releases by public companies would think that the paragraph means. Only by looking at the MTEY material do we see that at least through last Thursday the government hasn't given the first nickel of R&D money, so Antaeus has no financing, no proven prototype, no commercial design, no sales staff, basically no nothing. And we are talking about bridge rust here, and trying to sell Pulse (TM) to governments, both of which take many, many years to unfold. Now a possibility exists that DCHT is telling the entire truth, and MTEY has been hiding from its accountants and the public its half ownership in this thriving joint venture. If you believe that DCHT is telling the truth, then you have no choice but to believe that MTEY is dishonest. They can't both be telling the truth - DCHT's press release (and its claim on its website that Antaeus is a customer) is directly contradicted by MTEY's SEC filings. My conclusion that MTEY is telling the truth is because I can't think of a single good reason why MTEY, a company barely alive itself, would want to hide this valuable asset. I can think of lots of reasons why a highly promotional company like DCHT, who according to Steve pays its employees in stock because it is so short of cash, might want to make some wishful thinking look more solid than it really is.