Notes from EQUITIES Magazine Winter Corporate Conference `95 New York Palace Hotel ; Sun.Dec,951210 - Tue.Dec,951212 At the reception Sunday evening , I asked editor and publisher Bob Flaherty if it would be ok if I uploaded my notes of the conference to this web site . He said : ' I don`t see why not . ' I replyed : ' Thats one of the things which makes your personality so effective -- you have the advantage of blindnesses most people lack . ' Below are my notes from the seven meetings I attended and the lunch and breakfast speakers . The value of personal notes lies largely in their reestablishing of the matrix of associations of the original event . The notes below are essentially raw . I am very interested in feedback on their value to 3rd parties so I may evaluate whether to invest more or no time in elaborating them . ============================: MON.DEC,951211 :============================ |7:42| |9:16| EugenePian ; Semicon Tools ; OTCBB: SETO Nikle ,crushed diamond blades good for 5k lin inchs & Ceramic prods for Coors & Clean Rm supplies semicon tools w Malasian ( mfg ) DiamondsTools intnl / SETO contract mfg CableVision Korea remote control mfg . Semecon eqip sales .4 increase last cople yrs . Singa pore building 25 fabs 1 of 4 in world , Propretary tek - only full range . Private label , recommended by dicing saw mfgrs . res @ U of PaNang w eg Scaniing electron microscopes - custs : coors IBM Natn , Intl | Leading mkt posn . Company history American Coldset | Bought in 83 formed Semicon , 87 rev merg Epic Resours , 90 east coast | Fortn 500 : good payers , ( quik pay discnt ) Cleaning products for class 10 clean rms . aiming @ machine tools w Malaysian production . Cleanrm suplies low priority Scribes for GaAs ( very fragle ) HP 100k$ for 12 saws . Ceramic Prods : .47 tot sales , Diamonds .21 . Contract Mfg in Malaysia - 50kth remote control - | have contracted 12M$ rev . what offer is comunication thru Eugene ( spends .5 - .7 of time Malaysia Singapore ) Applied Magnetics uses Ling Dynamic ( cablevision ) disk head mfgr . Diamond tek 30k % mo blades . Kadar state Malaysia JV Have 5 people now - w have ability to do 600K$ % mo | no problem taking money out . mkting of Univ of Sians Malasia ( rice husks ) MfgInMalasia , expect 12 - 25 , 96 ; 50E6 . 97 , 3 consec prof Qtrs . Perception investing NL projected revs | 4.6M shares . .974 float .46 .73 1.02 1.32 1.7 % 3.5 5.5 7.7 9.9 12.8 E%S % Rev w PeterVanZant - Microchip Fabrication book , Stanford CableVision DaiWoo Malasia Thai border | 1.5M$ % mo production . 10K sq ft SMT facility . KFC staple diet . OSHA approved non poluting facility | now getting to unleaded gas NatnlSemi brought CA stds . not another manila or bankok - . can move whol facity in wk |9:55| Cash tiet - use CitiBank | Fiscal yr inventory close on holidays rough || need $$ for aq 2.5M$ for ling Stock + 2.5M$ Shares for CableVision | Sultans own land . | $ ideq Ringets Semicon needs 1M$ to buy bak .5 of co . Tot : 8.5 ge le 10 . also want hard disk drive oven . Investestment banker : CMI - set in next cpl wks .|10:3| |10:18| TechnologyResearch NASDEQ : TRCX | Ray Legetti : 1% 3 reverse split - to get away from penny stock of | 16 % 3 |>| 5.33 | M shares , now on NASD | since `81 , electric power safety eqip - Clearwater FL . GFCI ground fault circuit interupters | Perception .5mA , ~LetGo Tetanis 9.mA , 6mA , Firbilliation 52mA || new stds coming - UL , fst req `71 , .7 homes ~ equiped | `73 circuit breakers - `83 - , 93 portable devices - hair dryers TRC in portabl mkt . several trademarks , price down from $100 go 2-3$ lots of Patents on arcing protection | GFCI AplianceLeakageCircInter 0 hairDryers , EquipmeLeakCircInt - Xerox insulation failur protetion prevents 6-15 watt fires | Sprayer/washers , spas , Canon - .29 small mkt , Xrx .15 , Japan Liability laws . Electric Vehicles - working on adding to Housing codes . OEM , Brand Label , Distributors , Xrx | Competitoion : Leviton , Ericson , Defond ( far east ) . Mainly portable ( in cord & plug expanders ) up to 100A products . Also Surge protection - electroshield UL approved for home office equip | FireShield CPSC : 1990 149900 fires , 770 deaths 1.2B$ loss %3 electrical origin . .5 aplienac cords .4 of tot , Instaled wires .13 ( X •D & Paradyne people ) New Tek for distribution monitoring , fault detection | Republican Cong reducing stds ? work w Natnl Elek Code - but Liabil Ins ; Xrx , others doing themselves . Arc signature detetion difficult | lot of work being done on electirc vehicls - efficient | requiers ground fault protection . Utils like because overniet charging w level demand . Mkt Size : Busn Machinse , 150M , Present mkts 75M , end user 200M aplianc cors 200M , Vehicl ( yr 2000 ) 40M Mkts which might or should happen | Intnl mkts & stds : IEC , UL | mil mkt : electrical generation . cyclic busn - low this yr | Bradley Fighting veh - expect 4-5M$ tot mil rev | 80 g shock resistant | Clearwater mfg & china - Durable , 300 workers | Revs growing w down this yr | 10M$ wrking Cap . Pay .06$ % Q - abt .06 yield net worth ge 12M$ |11:12| price 4- 4.5 , P%E ~ 13 | Mil mkt 5.6 go 2.6 go 2 | look to pay out ~ .5 of earning s | 5E6 - .7E6 |>| 4300000 | float ElectroShield cable protection |11:30| MikeBaer : IntnlTradeEXhange Barter : Portland Or NASD: ITEX JimShilling | Busn owners barter | .6 increase in US outlets - Nafta - BarterWire - Computer online xactions | express card . proud of NASDAQ listing , pub since `86 . trade comodities - conserve cash . printers , doctors , , linen svc , auto repair , broadway theater , restaurants - lunch , acnted in ITEX trade $ , barter deal , charge .05 xaction commmision . Revs | '%' N‘ 4.7 7.9 14.8 23.6 |>| 4.7 1.68 1.87 1.59 1099 transactions | don`t pay | ITEX loans barter currancy w interest in trade $ | IRS loves them as 3rd pty record keeper | people get addicted to bartring . Yahoo : Trade Barter | 100 hits % day | & brokers homepages / have ignored intl til now | Corp surplus inventories .| avg 300 $ vs 500k $ | 500k wholesale value computers : Trade $ .1 used w .9 $ eg : 400k $ , 100k Barter . sell to trade members . move for .3 .4 cash value . Buliva , Grace , Dominos , | growing > 1.0 % yr || INternet : intnl : Lebanon - build barter company | want products , ~ currancy | Media - radio bartering . bought FiberMagee on 33rpm for barter - added comercials to CD for niet broadcast 150 stns . trade CDs for radio spots - not on balance . Hotel rms .3 vacancy % niet natnly . 1st Q | 7 .12 x 4 |>| 28 0.48 | 25k retailers . |12:1| PeterGrandich ( mngd 85E6$ ) 5th yr of .6 growth - 5B in NA , 7 B outside , vs liquidators like Damark | Private competion local , some big corp | paid stok for 3rd largest retail barterer | Itex w be clearing agent for local barter cos | 5.6 issued of 20M authoized . today 6.5 | < 100k long term debt | Wendy`s DaveThomas : paper bags 10M , cups 30M % day - barter bak side space | aplying for natnl NASD NMS on 15th . |13:12| BobFlaherty : good things happening to compensate for extended rise Eqiities Achiement Christopher Cox : Safe Harbor provisions of securities | 70 people burned to death - thru house | Magellan can`t forcast views on stock | strike lawyers fighting - fredom to speak | StanTrilling sick | RusselClevland filling in : most unprofitable cos never become profitable |13:19| budget battle : IRS missed work | 1 go 8 on anouncement of homepage | TurboShift - 90 sec comercial pizza oven . 2.5 go 25 | Sure Loser JoelMoskowitz : if follow stock w increase til buy . if recomend but ~ buy w take | 19k cos qtd on blumberg | 4$ BobWiggens TRCX 57BD cd : secret of long life : keep breating | INC article : open book mfging : Springfield Remfgng , ex- IntnlHarvester part | 100k cap to bak loan | 100K now worth 25M | JackStack Book : teaching people to be busn people in ge 1200 cos . , make money & generate Cash | Mike Heminack : secret to perminant prosperity - get value in return | Build airplane : 0 structure , 1 engine , position engine ; 2) gages ; 3) pilot ; 4) Fuel , cash flow & profits | survivability : Golden age of entreprenuship | Renesance : 1-5 M$ thru convertibles |13:33| BobF : Company capsules : US home & garden left for acquisition deal | Ajay Sports : Spalding lisencee in Golf stuff , x-roadmaster . leasure living prod , take to break even this yr , Tom from Williams Controls | Alliance Imaging : gon from red go Blak : CA MRI providers to 240 hosp . largest . selling 2 x cash flow . consolidatiing industry | Ansan NASD : ANSN : Dr MarkMoran : pharmicutical : 1 cancer drug for 4M$ , another abt in clinic for another 2M$ | Automobile Protection | Carington : Carlton Turner : Biofarm : Hydrogels for wound care , also cats & dogs , aloe . trading @ 27 from 8 last yr . margins > .6 | CamNet Darryl Telecom provider : been out of favor last yr + . bad regulator , retroactive rate relief from providers . MCI w b biggest shareholder | Donner Resources : Canadian Voisey Bay - nickel . 2 drilled holes 'better than moderate ' but ~ DiamondField level | FstWestern : also Voisey + Quebeq | Gallery Resource VoiseyBay & BritColum Gold | GreatAmerBackRubStore : Ex LearningAnnex , SuperCuts , Massage makes money . 8 units in NY - all profitable , float 700k | ITEX : MikeBaer : here for ITEX $s , stock broker nbr son selling dog 10$ , traded for 2 $2500 cats | KushnerLocke : pub 7 yrs : expect 3 x last yrs - TV & film producers & distributors Pinochio | Luminart : Mike just bk frm India jel . Walmart sucess . last yr 7.2 mil | Measurment Specialties : sensor based scales , tier presure gages . moving to industrial 11 17 22 M $ last 3 yrs | Packageing + : like FTD | Sage Analytics : chuck Cole : failure avoidance learning software . problem w public school : student Behavior . change behavior of campus . Proactive Discipline .5 - .8 improvement in learning | Semicon Tools : GeanPean : diamond tools ( above ) | SureShot Intnl | Techniclone : BioTek : antibody cancer imaging & treatment , mkt 1.2 patients % yr , limphoma prod - take to faze 2 , ptnr pays for expensive f3 can cure mice - now colon , prostate , lung , now 3$ stok , expected to be relisted | Universal Mkting : Casino enetertainment : MelindaSacks , fst lady of Magic . 60 city tour w Worlds greatest Magicians - AndreCole invented Statue of liberty & her drill | 10 yrs 2 x 6 days % wk in LasVagas | Tek Res , Ray is chief scientist ( above ) people die from fire as well as cancer | Williams Ctrls : TomItin | batery 14:41| |15:8| Universal Marketing & Entertainment NASDQ: UMEI | MelindaSacks 1st Lady of Magic - dancing - jokes | just on NBC Worlds greatest Magic Show | likes children`s respons | working toward NBC special | M&A w WW magic create co , bought Melinda`s co . spent all funds ( 500k$ ) on purchase of new illusions & her show . WW TV special | stok @ .15 | 60 city non-profit publicity tour | Co also doing some other things too | Copperfield set venues , specials & foreign tours - mexaco . Sigfried & Roy 58 M in 5 yr w Mirage + white tiger toys . Euro Special set up . Melinda doll & cartoons , have written TV pilot . Cosmetic endorsments . Smaller Casino tour | also have Ledgend impersonators , eg : Liberace . PigeonForge TN . Build Show room in LasVagas . 340 shareholders 9.4 shares . 4.8 restricted . mngt 1.2 |15:53| current 504 to raise new funds . |16:7| KushnerLocke NASDQ: KLOC | PeterLocke : 40M $ library | Pinocchio 28M cost `95 AcadAwrdWin MartinLandau | OliverStone : Freeway Kefer sutherlan , The Grave : WarnerVision Films SerpentsLair , LastGasp , NakedSouls , WestKraven MindRipper | WW dist Cafe Society ; WholeWideWorld | Really Big Bugs | TV NBC InocentVictims mi Moonbeam label in US K/L elsewhere | Pinochio the game , CD rom Wine guide TV.First infomercials | Xtan Music Vid | dir of Teenage Mut Ninj turts | Savoy oobusiness - sold to NewLine | in bus since 68 , frm Seracuse , Tron , SteelyDan , StarMaker - AutoMan 15 episodes | 860 episodes divorce court | sweating bullets | Pub black 871019 bd | StewardJames ( now defunct ) took pub `90 | did 20M priv to Fidelity , Gabelli , others . Donald & I 3 M shares | now all time low library 49 M$ @ | .69 x 30 , ( 3.5 + 3.5 ) , 5 |>| 20.7 4.83 3.45 | tot , mng , float | Andre , TV production baklog | `95 loss - don`t recognize rev til prod deli more rev cur Q1 than all last yr | 50M baklog , expect 75M this yr | working on 30M cred line . Outgrown Imperial Bank CA with which have 15M$ line . Presold titles . trailer 125k$ took to Italy show - ptnr w Savoy for 12M$ BankParabas financed projections | have NewMarket 12.5M$ covered | .5 .5 deals most foreign mkts . Pinocchio CarloCalodi 1870 | FFCopina wanted to do dark | pupet 2.5M$ Hensen operated by 6 people | have .5 of merchandise | Why Pinocchio ? was grand champ of 7 disney cartoons | Newline paid 15M$ for US | Elasticity of BoxOffices , Successes are not interfered w by 2nd levls Out Aug 2nd | Brave ltl toster 2 & 3 | Andre 2 | going area Miramax used to do . Little Films - OliverStone w ( KieferSutherland for .25M$ ) like reservior Dogs | have 3 pictures @ Sundance , 2 of 18 of 600 pictures . Big pictures have Bond . Infomercials SusanLandalfy like BarbraDeAngeles - love Dr . Christan Music pkgs - in `96 Q1 . Invested 250K$ . Cheap time : Jan Feb CD-ROMs w IBM of Pinocchio w new PCs , Jungle Book . Have acqd 57 titles for Cable @ 110K$ - have contracts for all . been buying thru agent to keep name out of deal for cash . may have own netw if | E! | 30k$ % show | also have satelite rights - selling baskets of titles , largest supplier to HBO | German ( .1 of ww mkt ) & Spanish deals Total output deal . 1 yr ahead of internal busn plan on deal . | 4M$ now , 4M$ as used . Lib may be valued take | valuation Exploded into foreign mkt | Spanish deal matchs German . Earnings % Share ? as said at lunch , can`t say | 27 mkt makers - most useless | just get earning up | one of only small cap pub cos in Hollywood . Peter , Bank of Amer | book % share |>| .5 .6 | KLOC , & 2$ warrents extended for yr . Fidelity owns bunch | Russell 'Ligtning in bottle w Pinocchio ' | to be thru post production in Apr . |17:13| ============================: TUE.DEC,951212 :============================ |7:39| |8:22| JohnPalicka : OLd Cos invest as index | Academics : can now invest globally | 2002 pass Turing Test , buy in store by 2025 [ no , no ] Other side Godel`s theorm says Turing ~ possible . Mgrs don`t outperform index | known stock Turing , small Godel [ ? ] | remembers charts costing 100k%yr | word screening | internet @ pup library Machin translation $100 English Socer Co trading low Manchester United on web page [ have heard blurbed before ] | AI Baris service evaluating managements - running own 'terminator ' funds thru Schwab | e-mail , internet foen | Tailant Hana Micro electronics . did qtz watches , new mngt , now outsource higher tek , eg , Schwab bought Shirling England | use NASD 100 acnting | Calpers going to index ? | pkging + BB conglomerate | Bob : RayDirks : over 20 cos have 2 x & stayed 2 x | last yr 2 x , best Eqitites Stock picker | Like NathanDetroit : oldest floating research dept in NY . now at National ? | his 5 best stocks up 100 x . looking for 20 baggers | managements . IPOs ~ generally long term wins . likes cos w earnings in place | Ins cos : AFLAC cancer suplimental ins . Jackson Natnl - run founders ( sees KusnerLocke here ) eventually sold to Pru England | Presidential Life | Ray ' ~ known for underprojecting earnings ' | likes ' hi earning yield ' ( low P%E ) , likes IPO : Complete Mngt in NYC : @ ~ 9 , earnings 1%share . Physician practice mngt | currently 20M rev thru internal & acq | pub in ~ 10 days |9:11| AndrewRacz dir res Bishop Rosen ( not replaceable by computer ) : Metals : World facing monitary crisis in 5-6 yrs - acumulation of gold in china - make gold mkt captive in far east . India bought .11 tot gold . China absorbing - 1kton gold in `96 | 50tons x 15 largest gold producers . insufficient . `70s Japan accumulating money . by 80s had 9%10 largest banks . bought .12 of US bonds , .25 CA . Trade surplus has almost colapsed this yr . China has no banking system like Japan . 550 metric tons tot Gold production . Half of sellers in gold mkt are producers . expects price explosion . Shanghi mkt . presure on $ . Simon demonetorize |9:28| |9:47| WilliamsControls ; TomItin : NASD: WMCO 9:56| simple Co : Blocking & Takling engineering staff in sensors & controls & what you do w info when have . Electronic footpetals for Desiels . bought pneumatic ( some hydrolic ) controls from Dana | EPA rules were driver | fuel 4.5 take go 5.5 , 6 ; economically driven | .65-.7 ww mkt share truks & busses . 1.0 in busses | Other half of busn : 250 products : oil well sensors to garbage truk compressor | simple practical valves | cleaned up `88 , NITSA recall 75k pedals from Dana Days | 60M sales in 94 | Objective : .15 - .2 growth % yr . avg .175 inernal + acq | loss in 91 because of recall . epw .09 .13 .22 .26 look for .25 anual E%S growth . aimed for .27 $ e%s , got .26 . obj .22 .27 .34 .42 | 94 - 7 | stock .28 3 yrs ago , hit 3.78 $ . now le 3 . aim @ .79 eps fully diluted in 2000 . | 3 % .26 |>| 11.54 | Are downsizing dependence on class A trucks | Bought Aptek from ITT . May BusnWk 100 best run | Brad Peterson from FreightLiner | WayneJenkins Aptek : telecom | sell to Korea . also custom : colision avoidance for Allied Signal aviaton . aim to use for rail | truking leads auto in tek becuase econ incentive . Drowsy driver , weigh in motion , breath analysis cel foen interfaes . best in clas prods sell ww . Williams Tek acq grp . Fed rail admin - derailment sabotoge detection . David Rush teky patents in smithsonian , apollo 13 . Integrated w Portland mechaiks . Trimble GPS Software , dig cameras . AgroTek Hardy div 40 ft wide mower - sprayers . Slow sale - SouthEast Ag add - ons . Hiway tilt safe mower . constant density spraying thru turns . Roundup , grasso herbicides . controls on each head . Exaust brake | increasing milage from 5 go 7 mpg | electronic engines Navistar biggest engine producers : working on partikulates . Ag offsets syclicality of truking , also foreign | 4.5 % 60 |>| 0.08 | earing % sales | not subject to Fasb 121 . , already hit w 105 , 106 . are conservative . e%s take .54 | Sales take .3 | have grown from ~ .03 go .13 foreign sales . selling to volvo for pedals . Mercedes owns Freightliner | 46M personal vehicls . 100 x tot class A truck mkt | Williams World trade in East | East Europe JV w DetroitDesiel | > .035 rev on applied R&D . Idea to truk now 4.5 yrs | Portland has new 3-D CAD sys . | 35E6 % 170 |>| 205882.35 | rev % employ pik & plac machine . not cheap . paying 1 point < prime . 60 M $ line , using 15 M | buying bak ESOP & Pension funds | up to 5$%share , buybak no dilutive relative cost of money . Kenco has been failure . made some yr before last . lost ~ 800K$ last yr . returns . Mass merchants low as have seen in 15 yrs | New acqs ? Fill out Kenco . have foothold in mkts . After mkt electronics . electoniks on bug deflector | NESC compressed natrl gas also loss . Rate of closure detectors on cars . Freightliner has |10:49| |11:3| Gallery Resources Ltd | AlbertaS.E. : GYR.A Jr mining . Geologist : Jens Tourborg . grew out of Palcer gold co in BC . w be reactivated in spring 96 were mining 2 yrs ago - grid drilling for placer deposits . Labrador Voisey bay lake botoms full of copper . 100M tons .02 .03 copper , .03 nikel , ? Cobalt platinoids . 50km rift between greenland @ 1.5 B yrs , 100M yr old basalts . NASA sat data enhanced to bring out geology , even to fine scale . can only work by helecoptor or float planes . all booked during summer . fault trends . sulfite mineralizations . swath of intrusives . fly on 200 meter lines by cabot lake . found sulfites , FeS go FeO3 rust gossan zone , very significant . 50 x 10 meter rust weatherd rocks . Gabro rim around magnetic peaks shows Magnitite content , Drilling 45: & 60: for fresh rocks . Got complex picture - diseminated fine pepering of thin veins of sulfites . may be sitting in mineral intrusion . Electric probe into hole to measure conductivity to guid drillin to ~ 250 meters . see sulfites @ 70 M . very early stage , but have confirmd have lot of sulfites , going bk in Jan temp -25 30 , baer rok . wrking on Cabot property , have 7 others , some look interesting . Clark : Govt Lake sediments very 30 ppm sulfites ( normal 1-5 ppm ) may reflect NiCuCo minrealization in area | worked on Uranium dep 10 cm lake sed sample . work w neighbor on adjoining prop . 3 type s moose pasture , prospect , drill prospect . Also : BC : drilling now : in old placer gold prop . Bakerville gold camp put in seismic grid to map thikness to bedrock & gravels . 300 mg gold in bucket samples suggesting gold bearing river channels . mine w buldozers . found higrade samples - feel lot more gold can be taken out . think source of gold must be near by . Gold down to 100 ft . BC want to build hatchery right down stream . blak sands rare earth . platnum ?able | looking to get hard rok rights containing source . convention of 17 geoligits looking @ environmetallty frendly mining . Kinross producing gold mine 15km away . ( WacoKid GailEssery w LordThomson ) getting buldozers in this spring . fresh leafs & nuggets of gold . |12:10| BruceCosterd Pres : Friend has Doppler Computer Co , Vancouver || see also : GeorgeChelekis , www.gate.net/hotstock-review/