| An SI Board Since December 1999 |
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A BUYING OPPORTUNITY
Yes, a buying opportunity.
Any of several of Eco's subsidiaries can be sold for more than the current capitalization of the entire holding company. Moreover, relatively non-productive land and leased facilities owned by the Chempower subsidiary are worth more than the current capitalization of all of Eco. So despite the disaffection and fear by many individual holders on various message boards, there's a good deal of protective value in Eco, even with probable writeoffs forthcoming from a couple of bad acquisitions. (But keep in mind that the receivables from MART and USIS are collateralized, so, if I correctly read and interpret the SEC materials, there should be no dent in Eco's cash position, which remains strong.) Just as stocks irrationally rise past any explicable understanding of reasonable value, borne on the helium of sugarplum dreams, the other side of the coin is emotional overreaction on the downside. This is what's happening with Eco, when even new contracts bring forth kneejerk investor posts that new contracts mean bad news because they're sure to lose money. This is rampant silliness. The risk/reward status of Eco provides the patient investor an unusual opportunity. Unless management is telling grossly premeditated lies (a risk with all companies), this is a stock that could be 500% higher by next Xmas, while Eco haters are shaken out on the way up. Check out their Web site at www. Americaneco.com for more information, including their upcoming name change.
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