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Microcap & Penny Stocks : SFDA....Stratford

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To: MCorbley who wrote (61)5/9/1997 12:56:00 PM
From: David Wideman   of 75
 
Michael,

All are good questions; sorry I don't have good answers, only IMHO's
(CAUTION: IMHO's can be hazardous to one's financial health!).

I'm not sure that start-up costs will be unbearably "substantial",
i.e. shouldn't take a "GM-sized" factory to reach Year 1 projection of
4M pounds (on a capacity of 9M pounds). My guess is that the facility
will not be much of a sight to behold; just another "concrete plant".

Also, I'm "assuming" (another DANGER sign) that management has built
these start-up costs into projections. Take into consideration that
the article I pulled #'s from (I think it was Windward Communications?)
may not have the same credibilty as a BUY recommendation from Merrill
Lynch, but it's all I've got to go on.

My reasons for being LONG on HARD for a LONG time (that's the plan, anyway):
1. NEW management
2. REAL product
3. GIGANTIC market
4. Investor Communications Co. - No, a company's investor relations firm is
probably not one of the greatest reasons to buy a stock, but I've grown to
trust Mark, Tom, Greg and the gang at ICC. I think ZMAX, GOAE & HARD have
tremendous potential.

From its current market cap of about $4M, I see nothing but great things
ahead. I hope I'm as smart as I sometimes think.

Have a good day,
David
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