Sentex Sensing Technology Inc (fka SENS)

[Rawnoc]

>> Raw, so what has changed since five years ago? >>

Where do we start?

We all know Mr. Kendall built LDI Corporation from scratch to a $325 million buyout.

A pattern repeating?

Kendall and Sentex acquired Regency Technologies which is SENS's current and only operating subsidiary.

They had over $1 million in sales last quarter and nearly broke even and continue to grow.

From the 2001 10k:

"NOTE 3. ACQUISITION OF REGENCY TECHNOLOGIES, LTD.

In July 2001, the stockholders of Sentex Sensing Technology, Inc. and the members of Regency Technologies, Ltd. (an Ohio limited liability company) approved a merger whereby Regency Technologies, Ltd. became a wholly-owned subsidiary of Sentex Sensing Technology, Inc., through the issuance of 1,250,000 shares of Sentex common stock in exchange for 100% of the member interest in Regency Technology, Ltd.

In the transaction, accounted for as a purchase, the Company issued 1,250,000 common shares, previously held in treasury at a cost of $.035 per share, for an aggregate purchase price of $31,250, approximating a fair market value of $.025 per share."

Not bad for $31,250 in stock. Regency at the time had NO sales. Kendall built a total POS nothing (many of us spend more on a new car then Regency was paid for) to a $4 million in sales company (not bad) that is seeking financing to expand the successful (almost profitable) business model and hopefully offer a leasing option - which is what LDI Corporation did which Kendall and others built from scratch to be on the biggest leasers of technology in the country. He takes NO salary, NO options, no compensation whatsoever, loaned the company $6.3 million, and owns half of it, much of it he paid 7.6 cents a share. The only way he makes any money for working is if he makes SENS succeed and something BIG happens to the stock price.