What a long way we have come. From an "The Investor Insights" email dated 5/6/03
News Alert
Hy-Tech Technology Group, Inc. (OTCBB: HYTT)
6 Month Target Price: $5.61
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Shares Outstanding 24 million
Approx. Float 5 million
6 Month Price Proj. $5.61
A Few Reasons to Own HYTT: 1. HYTT recently went public via a reverse merger. The previous 30 day average daily trading volume of the public company has been over 300,000 shares per day.
2. HYTT is no start-up, rather an experienced and cautious company that has been, for the most part growing year after year and has survived a tough market in its industry.
3. HYTT Annual Sales were $30.9M in 2000, $29.1M in 2001 and estimated $30M in 2002. Financial projections for Revenues are estimated at $65M in 2003 and $100M in 2004, and to be profitable based on potential acquisition opportunities.
4. HYTT estimates that it currently has approximately 2,000 active customers with no one customer representing more than 5% of its total business. HYTT's top ten customers represent less than 15% of total sales.
5. As market conditions improve in the technology industry, HYTT is positioned to grow without significantly increasing the number of its employees. As sales increase, profitability will grow exponentially.
6. HYTT’s upper management team consists of hard working individuals who are extremely motivated because the majority of their overall compensation is based on making HYTT successful!
7. HYTT has the ability to rapidly grow and list on the NASDAQ Small Cap or NASDAQ National Market.
UPDATE
Great News! HYTT is back in business and making deals as they should. We doubt that a school district would ever award a $1.5 Million Dollar contract to a company that would not be around to fulfill the terms of the agreement over time.
Like we said in our previous update, there has to be a reason WHY AN INVESTOR WOULD INVEST $1.5 Million BUCKAROO’S IN HYTT.
Maybe, in our opinion, the fundamentals of HYTT looked good to the Private Investor and all that needed to get done was to put up a few Buckaroo’s ( $1.5 Million Dollars) to clean up HYTT’s Balance Sheet, to get HYTT moving in the right direction.
Well, still no New PR regarding details of a restructuring or the STATUS of Mercatus (the potential short seller), but you can rest assure when that PR is available HYTT will release it.
We think this type of PR is Forthcoming and Imminent.
So keep a real, real close eye on HYTT, and as always Watch This Stock Trade!
Press Release
Hy-Tech Technology Group, Inc. Wins Major Contract With St. Johns School District
Tuesday, May 6, 2003
FORT MYERS, Fla., May 6 /PRNewswire/ -- Hy-Tech Technology Group, Inc. (the "Company") (OTC Bulletin Board: HYTT) announced today that its wholly owned subsidiary, Hy-Tech Computer Systems, Inc. has been awarded a major contract for the supply and provisioning of computer systems, components, peripherals, and software by the District School Board of St. Johns County, Florida. The term of the contract is for one year, commencing July 1, 2003, with two one year renewal extensions. While the awarded contract does not specify a fixed dollar amount, Hy-Tech anticipates revenue of more than $1,500,000 from the contract during the next year. The Company’s management believes that this opportunity may also provide potential new revenue from other governmental agencies and school districts in Florida.
Craig Conklin, the Company’s President commented, “Hy-Tech’s new status as a Florida State contractor will provide the Company with an unprecedented ability to attract larger and higher quality accounts and adds a new level of credibility for the Company as a preferred vendor and source for turn-key computer systems. Hy-Tech will try to leverage its position within the State of Florida purchasing division for new business opportunities to other state, county and local government agencies.”
Gary McNear, the Company’s CEO stated “this provides an unprecedented opportunity for Hy-Tech to enter the nearly six billion dollar computing marketplace in the State of Florida. By winning this major contract, we have removed significant barriers of entry to the highly competitive government and academic markets in the State of Florida.”
About Hy-Tech Technology Group, Inc.
Hy-Tech is a custom manufacturer of quality computer systems and a distributor of computer components and peripherals. The Company is headquartered in Fort Myers, Florida, where it began operations in November 1992. It has seventeen local store operations in Florida, Alabama, Tennessee, Kentucky, Wisconsin and Colorado. In all of its locations, Hy-Tech stocks a full line of computer components and peripherals and has technicians capable of building and servicing systems that range in scope from a basic desktop system to very sophisticated server applications. The Company has an aggressive growth strategy based on leveraging existing operations through rentals, ecommerce, franchising, and through strategic acquisitions. The Company has established strong relationships with some of the most outstanding companies in the computer industry, such as Microsoft Direct OEM, Intel Premier Provider, Microsoft System Builder Gold Member, Symantec Authorized Education Reseller, Microsoft Authorized Education Reseller, and Iomega Premier Partner
Safe Harbor Statement
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate," "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.
Valuation
With a potential war looming with Iraq, the threat of terrorism, a weak economy, a sluggish stock market, companies continuing to disappoint in reporting quarterly results, and whatever bad things someone else can think of, life still goes on.
In fact, Blue Chip technology companies, such as, IBM, MSFT, and CSCO have recently announced their December quarterly results, whether one wants to perceive them as good or bad, the point is all these companies generated Billions in revenues and Billions in profits.
So, in our opinion life does go on, particularly in the Technology sector, whereby Hundreds of Billions of Dollars of products and services will be sold this year.
We believe, that it is clearly possible for HYTT to execute on their plan, because the Technology sector is so large, which makes it possible for companies like HYTT to become niche players and to succeed.
HYTT is projecting better than 50% revenue growth over the next 2 years, and to be profitable. One way to value a company is to look at its peers in the industry. According to Multex, relative to comparative companies within the Technology Sector, HYTT could possibly realize superior growth in business and earnings over the near-to-intermediate term period. A grouping of comparable companies within this sector currently trades at an average price to sales multiple of 4.15 times.
If HYTT were to trade today in the marketplace at one half the multiple of revenues as its peers (which is 2.07 times), then based on the company’s forecast of $65 Million Dollars in revenues for 2003, this would equate to a stock price of $5.61 per share. Which would be about a 150% Profit from current levels.
Conclusion
From experience, we have noticed that Micro Cap companies that recently begin trading publicly embark upon PR campaigns to get their name out into the public domain. Generally speaking, the PR is usually quite positive, that is why Micro Cap Companies go public, to get there name out and create value for future growth.
So, as always keep an eye on HYTT, and Watch This Stock Trade!
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******* Important Notice and Disclaimer: Please Read *******
The purpose of this advertisement is to provide publicity for the advertised company, its products or services. This advertisement is not a solicitation or recommendation to buy, sell or hold securities and does not provide an analysis of the financial position of the company. Investor Insights, and affiliates (II), publishes reports providing information on selected companies that II believes has investment potential. II is not a registered investment advisor or broker-dealer. This report is provided as an information service only, and the statements and opinions in this report should not be construed as an offer or solicitation to buy or sell any security. II accepts no liability for any loss arising from an investor's reliance on or use of this report. An investment in HYTT is considered to be highly speculative and should not be considered unless a person can afford a complete loss of investment. An affiliate of II has been hired by a third party, and additionally received sixty six thousand five hundred free trading shares of common stock of HYTT by a third party for the publication and circulation of this report, which have since been sold. In addition, an affiliate of II has been hired by the company for 90 days for an additional one hundred thousand dollars paid out in three equal installments of which the first installment has been paid. Subsequently II may buy or sell shares of HYTT stock in the open market. Since an affiliate of II has been compensated there is an inherent conflict of interest. This report contains forward-looking statements, which involve risks, and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements. For further details concerning these risks and uncertainties, see the SEC filings of HYTT including the company's most recent annual and quarterly reports.
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