S.A. Advisory E-Mail Update
April 26, 2000
www.saadvisory.com update and new information on semiconductor related reverse-merger-April 26,00
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MOST INTERNET,B TO C, B TO B, BIOTECH & WIRELESS INVESTMENTS HAVE BEEN SLAUGHTERED DURING THE
PAST 30 DAYS! THE SEMICONDUCTOR INDUSTRIAL SEGMENT REMAINS HEALTHY AND INTACT(SOMEWHAT OVER-
PRICED)! TAKE A PEEK @ SCRO
ADVANCED TECHNOLOGY INTERNATIONAL
SYMBOL-----SCRO---FULLY REPORTING WITH THE SEC AND TRADES ON THE BB
FORMED AROUND 95-96
REVERSE-MERGER--BEGAN TRADING APRIL 18,00@ $3.50
AROUND 20 MILLION SHARES OUTSTANDING
FLOAT-3.7 MILLION
600 WORKERS
THE COMPANY MANUFACTURES PCB'S ( PRINTED CIRCUIT BOARDS) FOR MANY ELECTRONIC PRODUCTS, IE;
CELL PHONES, PALM PILOTS, RADIOS, CALCULATORS AND MANY OTHER CONSUMER RELATED ELECTRONIC
PRODUCTS.
THE COMPANY MANUFACTURES THE PCB'S WITHIN CHINA AND SELLS THEM TO TAIWAN AND HONG KONG BASED
ELECTRONIC MANUFACTURERS, WHICH INTURN SUPPLIES THEM TO CUSTOMERS SUCH AS---CANNON, CITIZEN &
SHARP.
TAKE SOME TIME AND REVIEW THE NUMBERS BELOW!!!THE PICTURE LOOKS VERY ATTRACTIVE BASED UPON
THE REV AND EARNINGS TREND ALREADY IN PLACE.
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SELECT FINANCIAL DATA
9 MONTHS FOURTH QUARTER YEAR END 1ST QUARTER
9/30/99 12/31/99 DEC 99 3/31/00
REV $16 MIL $5.5 MIL $21.5 MIL $7. MIL
EPS .14 .03 .18 .06
QUOTE FROM MANAGEMENT WITHIN APRIL 26,00 PRESS RELEASE: " WE ANTICIPATE GROWTH EXCEEDING 60%
FOR 2000 AS COMPARED TO CALENDAR YEAR 99!"
IF MANAGEMENT STATES THAT GROWTH WILL EXCEED 60% THEN ONE COULD ASSUME 75% GROWTH MIGHT
REALLY BE THE MAGIC NUMBER!!
IF WE USE THE 60% VALUE-REV FOR 00 WILL EXCEED $34 MILLION AND NET INCOME/SH WILL EQUAL
AT LEAST .30/SH..IF WE APPLY A PE VALUE OF HALF THE PROJECTED GROWTH RATE, THAT IS A PE OF
30--WE GET AN ESTIMATED SHARE VALUATION OF $9.00
IF YOU REVIEW THE NUMBERS ABOVE- IT IS EASY TO SEE THAT REV AND EARNINGS ARE RAPIDLY RAMPING
UP!!!!!!!!!!!!!!!!!REV GROWTH Q TO Q EXPANDED BY 40% WHILE EARNING EXPLODED BY 100%--
WE ARE NORMALLY VERY CONSERVATIVE WHEN IT COMES TO ASSIGNING HIGH PE VALUATIONS, A 30 PE MAY
BE VERY CONSERVATIVE, BUT TAKE A HARD LOOK AT THE PRESENT MARKET CONDITION!
MANAGEMENT INTENDS TO APPLY FOR NASDAQ LISTING ONCE A SHARE PRICE CAN WITHSTAND PRICE
SWINGS, WHILE THE LISTING PROCESS GRINDS ALONG!
SCRO-LOOKS LIKE AN EXCELLENT SPECULATION WITHIN THE SEMICONDUCTOR SECTOR WITH ATTRACTIVE
UPSIDE POTENTIAL BASED UPON ACTUAL AND ESTIMATED REV AND EARNINGS.
SCRO--IS 1S09002 CERTIFIED.
INTEND TO DEVELOP MULTIPLE POLYIMIDE INTER CONNECTION BROAD--(MPIC)--ADDITIONAL FUNDING NEEDED-
IF SUCCESSFUL--REV FROM THIS DIVISION WILL EXCEED $16 MILLION FOR 2001--THIS IS JUST
FOOD FOR THOUGHT!!!
SELECT BALANCE SHEET DATA
9 MONTHS 1ST QUARTER
9/30/99 3/31/00
total assets $7 mil $9.2
total liab $3.3 mil $3.2
total current
assets $4.2 mil $5.8
total net
assets $3.8 mil $6.0
THE ABOVE SET OF NUMBERS APPEARS VERY ATTRACTIVE--ASSEST GROWTH & LIABILITIES REDUCED.
MANAGEMENT--A
OVERVIEW: LOOKS LIKE A GROUND FLOOR OPPORTUNITY WITH COMPELLING FUNDAMENTALS WITHIN A
RAPIDLY GROWING INDUSTRIAL SECTOR! PERSONALLY WOULD HAVE LIKED LESS STOCK OUTSTANDING!!
SCRO--INTERVIEW WITH ADVISOR NILS OLLQIST ON WALL STREET REPORTER 4/19/00-
www.wallstreetreporter.com ---excellent conversation
IR----George logan 949-566-9859
corporate website; www.atho.com.cn
WE PURCHASED $15K WORTH OF SCRO IN A PRIVATE TRANSACTION --WE MAY BUY,SELL AND OR HOLD
OUR POSITION AT OUR OWN DISCRETION. WE MAY BE CONTRACTED TO PRODUCE A CORPORATE PROFILE
ON SCRO IN THE NEAR FUTURE, BUT AT PRESENT WE HAVE NOT BEEN PAID FOR OUR REVIEW!!!
INTERNET BUBBLE PORTFOLIO
We placed "short" recommendations on varied Internet stocks from 12/28/98 to 1/28/00..If
you favored most of the listed investments below-you might be living under a bridge in N.J.
by now!!
symbol,date,purchase price current price G or L
ubid 12/28/98 $84.125 $15.375 G slaughter
ebay "" "" $98.79 (3 for 1 split) $149.25 L jury still out
amzn "" "" $53.125 ( 3 for 1 split) $53.50 even - don't believe
in the business model.
aol "" "" $117.00 $60.00 G merger pending
another slaughter
eggs "" " $68.00 $4.56 Huge G --super
slaughter
nsol "" "" $72.37 ( 2 for 1 split) $115.375 moderate loss
cannot win them all
yhoo "" """ $247.50 $119.125 G slaughter--A leader
within the sector!
pcln 7/06/99 $111.50 $63.875 G slaughter--Even
Star Trek can't
stop the downward
warp--scotty
ntop 9/06/99 $81.00 $41.125 G slaughter--
scmr 11/15/99 $83.00 ( 3 for 1 split) $60.875 G slaughter--
extremely over-
priced still
exds 1/23/00 $138.00 $75.31 G super slaughter
may never make $$-
very over-priced
at this price
TO BE CONTINUED!!!!!!!!!!!!!!!!!!THE LESSON!! REV AND PROFITS --THIS IS HOW STOCK ARE VALUED!!
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NYSE ORPAN PORTFOLIO
DATE SYMBOL RECOMMENDED PRICE CURRENT STATUS
11/15/99 GBX $10 $7.56 B
"""""" CGX $22.50 $11.375 H
"""" """ CLE $20 $18.50 B
"" "" XRX $25 $28 B
"" """ PER $17.50 $16.31 BB
11/26/99 TOY $17 15/16 $15.00 B
2/13/00 UNM $15 $16.375 BB
"" "" WM $22.875 $26.75 B
2/29/00 GR $22.93 $31 B
"" "" MO $20.06 $22.31 B
"" "" ABS $25.125 $32.31 B/H
"" """ TEX $12.00 $15.875 BB
2/29/00 AFS $19.625 $22.875 BB
"" """ OWC $14.00 $18.375 BB
3/29/00 RTNb $18.75 $22.44 BB
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OTHER BITS:
IWMC--NURSING HOME,OIL % GAS , .55 IN CASH, 9 ACRES OF LAND IN CA ON BOOKS FOR A FEW HUNDRED K,
FULLY REPORTING, .11 NET FOR 99 OR .16 IF SUBTRACT OUT THE TREASURY STOCK OF 5 MILLION-- SEE
LAST E-MAIL---CHEAPER NOW @ .28
CBRB----BREWING IN CHINA--YEAR-END NUMBERS $118 MILLION AND .36 NET ON 8 MILLION SHARES
BOOK AROUND $4.00 AND CASH $1.40--SEE LAST NEWSLETTER---.875
ECGO--RECOMMENDED IN LAST NEWSLETTER AND HAS ZOOMED SOUTH---WE HAVE AVERAGED DOWN--WE LIKED
IT AT $1.00 HAVE TO LOVE IT .375--MORE PROBLEMS---.41
HMLD,FCIN,FRTI---MUST OWN AT CURRENT LEVELS
COMS---LOOKS ATTRACTIVE AT CURRENT LEVELS--$39
WCOM---LOOKS ATTRACTIVE AT CURRENT LEVELS--$41
HAPPY INVESTING, WILLIAM VELMER