Bitech Technologies Corp (BTTC)

[SkepticalOptimist]

I probably could have done better but I have been trying to get out since February and was messing around with the bid/ask back when it was around $1.80 and should have just sacrificed some price for volume. I just don't like the 15-month collection cycle and regulatory risk associated with it. I am also question their ability to hit $.30 for the year or get financing that is not at shark pricing or convertible/dilutive. There was also an unrelated article in the WSJ about a California hospital that was making a bunch of money fraudulently from back surgeries - while this was totally unrelated, it spooked me a little bit because I think the government could come in at any time and rule that the health care system should not have a loophole allowing this abnormal profit margin and driving up costs. If the doctors are willing to perform the procedures at 1/5th the price, why should insurers pay the 5x price? I basically just don't trust the government to let the free market operate and think this could be an area of risk. I bought in the $.60/$.70 range and then again at $1.10, so I'm satisfied to be out and move on to something else.

Another concern I had after yearend results came out was that cumulative collections were $3.3 million as of 4Q11 vs. cumulative revenue of $3.1 million through 3Q10 (so a better than 15-month collection cycle). After 1Q12, cumulative collections were $4.0 million vs. cumulative revenue of $3.9 million through 4Q11, so a greater than 15 month collection cycle. I hope everyone here gets rich off my sales while I do well on something else. I thank you guys for pointing this stock out to me on the VMC board as I never would have found it on my own. Best of luck.