| To: Alfred W. Post who wrote (89) | 10/10/2001 10:08:03 AM | | From: peter michaelson | | | | Insidetruth.com Initiates American Access Technologies Coverage!
SAN DIEGO, CA -- (INTERNET WIRE) -- 10/10/2001 -- Insidetruth.com initiates American Access Technologies (NASDAQ: AATK) with a Sell Reccomendation and awards it a price target of 56 cents(equal to the closing price on Sept 21 ,2001).
This Company announced a Contract for 7,000 Biological and Chemical alarms , as if they were the ones who produced these alarms. AATK does not, they do however do a little welding as a subcontractor, in the production of these alarms and last year handled a 6,000 unit contract. This contract was renewed this year for 7,000 units by the company that actually does make these alarms, AATK charges $26.50 each, according to the figures released to Dow Jones News Wire,It should be noted that AATK has lost money on every single unit,it worked on last year. The total value of this contrcat is approximately $ 185,000.00. AATK has no other connection with Biological and or Chemical alarms and or detection.
For the most part Acces Tech (AATK) is a pure welding compnay, they make metal things, for dift applications, however sometimes they powdercoat these metal fabricated products. In the cases of the termination cabinets ,which are in reality metal boxs, they do have the incredible capacity to actually fold these metal cabinets into shape.
Here is a photo of their operation and the facilities used by its 50 employees,most of them being professional welders and packaging specialists.
callaatk.com/gifs/Factry2.jpg
American Access Technologies currently has $ 217,000 in cash and equivalents according to their most recent SEC filing. We value the company at 1/2 of their cash level based on an SEC reported burn rate of 164,000 every 6 months. Which leaves them with approximately two quarters of cash left,if that.
The company, has no R & D department ,they dont have any scientists on staff,and they certainly have no expertise in Chemical and or Biological Warfare, They are simply a Welding Company. Finally the Compnay spent a total of "nothing" On reserach and developement,according to their most recent filed SEC filings.
And Finally on 9-12-2001 (the day after the WTC tragedy) the insiders ,NOT the company filed to sell 1.66 million shares, with all of the proceeds to go to selling insiders and no cash to the Compnay itself.
www.sec.gov/Archives/edgar/data/1043186/000111650201501103/ameraccess-sb2a.txt
A more detailed report will follow. |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (4) |
|
| To: peter michaelson who wrote (90) | 10/10/2001 11:22:12 AM | | From: rrufff | | | | Hey Peter,
I looked for that report on the InsideTruth website and it's not there. Is this inside information lol?
Anyway, very interesting - I just started looking at this. It got some big coverage yesterday. Is it just because of the symbol AATK?
RR |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: rrufff who wrote (91) | 10/10/2001 1:47:47 PM | | From: peter michaelson | | | | hi rruff - i think the report pretty much says it all. AATK jumps on every hot fad with a press releases. First they were a B2B, then a fiber optic, now bio-defense.
Man, they shape metal. Their real focus is these zone cable things.
It's alow margin business with zero barrier to competition.
Peter |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: peter michaelson who wrote (90) | 10/10/2001 3:09:40 PM | | From: Alfred W. Post | | | | | Thhank you very much for your detailed report. You seem to know the situation very well and the picture you are pinting is not nice at all. But thanks just the same. yours Fred |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: peter michaelson who wrote (90) | 10/11/2001 11:08:22 AM | | From: Alfred W. Post | | | | PETER ThANK YOU SOOOOO MUCH FOR YOUR EYE OPENER.
aFTER STUDING IT AT LENGTH I SOLD MY ENTIRE POSITION OF 6000 AT THE OPENING AND THAT WAS AT $2.75 with latest price just over $2. Do you immagine how happy and thankful I am? Now thanks to you and your info my total loss is thanks to it now much smaller. So thanks again. And if You think that I could do anything for you from this point, just drop me a line at alfred.post@datazug.ch |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (2) |
|
| To: Alfred W. Post who wrote (96) | 10/11/2001 12:58:40 PM | | From: peter michaelson | | | | Alfred - I am very happy if you avoided being ripped off. I believe the company executives exercised over one million warrants at about $2 each, and sold the shares to the innocent public.
The anthony@pacific group is often spoken of very disparagingly. We profit from the (what I call) frauds perpetrated daily in the market, but at the same time reduce the impact of that fraud by exposing it to the light of day.
I am a proud member of that group. insidetruth.com
Peter |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Alfred W. Post who wrote (96) | 10/11/2001 1:07:45 PM | | From: stockteller | | | | Those guys over at that anthony site are good.
You better join that insidertruth.com site while its free, because its worth at least $1,000 a month. |
| | American Access Technologies AATK | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| |
