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Saturday, March 19, 2005

Response from Motley

Dear Readers:

For some reason, neither Carl Wherrett--or myself for that matter--have been able to post a response to my article yesterday about Altair. I have therefore taken the liberty of posting Carl's response in full. Below is the full text:

Dear Jack:

Regarding your comments on our Altair article I would urge your readers to
read the full article. Our by line was we are not buying , holding or shorting Altair. We are watching them carefully, which is the same advice you gave in your article i.e. be very cautious. Imo it is the only sensible advice anyone should give about this company.

Our mention of Spectrum was to highlight they have finally got a commercial
partner after years of trying but we are well aware meaningful revenues are
years away. What might be nearer term is the battery technology and at this
stage I nor anyone else can say for sure it is a bogus claim. Their
statements are very factual and will invite a class action suit if their
claims are proven to be totally without merit. Had these types of claims
been made by the previous management then I would dismiss them as it is
repeating previous broken promises. The fact that they have a new CEO & now President means I cut them a little more slack, after all it is under this
CEO that have signed Spectrum and raised $20m at a price of $4.05, an
unheard of level under their previous managers. Are the two things linked,
well right now only in conspiracy theorists minds. Dr. Gotcher has not lied
to his investors yet, if and when he does you can be sure I for one will be
crawling all over him.

For these reasons we ended with the remark , IF they announce a deal with a
major battery manufacturer then we would look seriously at them.

Carl Wherrett