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MEDTOX Scientific, Inc. (TOX) Message Board

  • doubt_full doubt_full Mar 30, 1999 10:43 PM Flag

    Morgan Capital, please come back!

    I've been following this board for a long
    time.

    Last summer there was a rumor that Morgan Capital was
    making a bid for this company at $0.50 per share. Our
    fearless leaders scoffed at this potential offer as
    inadequate.

    Doing math on this board is dangerous, but let me
    try...

    $0.50 per share, adjusted for 1:20 reverse stock split,
    equals $10.00 per share.

    We've watched the stock
    fall to its present $3.25. We're waiting to see the
    10K which is supposed to include an annual loss of
    over $2 million, most of which is NOT the result of
    one-time charges. We have yet to see a well-orchestrated
    PR blitz to take advantage of the new visibility the
    RS was supposed to bring to the stock of this
    company.

    WHAT IS IT THAT GIVES ANYONE CONFIDENCE IN CURRENT
    MANAGEMENT?

    We can't blame any of this on Skinner and
    Heath.

    The market capitalization for this company is now
    under $10 million, despite revenues of over $28
    million. Where are the buy-out offers now?

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