Management

Brian De Champlain is executive VP, chief technology officer, & co-founder. He has 16 years of management & RF electronic design experience in communications, cable TV, broadcast, & consumer products, & holds several patents. .... Frank Gerlach is VP, chief engineer, & co-founder. He was a software design engineer & project engineer with Northern Telecom, & senior project engineer at Spar Aerospace. .... Mike Ivezic is managing director of Frankopan & Co., the merchant bank that financed CNXX. Major shareholders of CNXX are Frankopan clients. .... Stewart Somers is executive VP & CFO. He has 28 years experience in several public & private corporations.

Financial Status (12/31/98)

CNXX is entering its demonstration phase in southern Ontario late summer & anticipates revenue streams to begin in Q1 2000. The company has strong financial backing & has zero debt. Management projects $17 million revenues in 2000, & profitable operations in 2001.

Recommendation

I recommend CNXX for midterm & long-term appreciation. I interviewed the inventor of the technology 6/24/99. As an engineer, I am satisfied that the technology is based on principles I believe are workable & reliable.

The advantages of the technology are impressive. They include adequate positioning accuracy, excellent security that thieves are very unlikely to be able to bypass, elegantly simple operation, & the ability to create the necessary infrastructure needed to service a large area at a relatively modest investment.

Centraxx should be able to rapidly roll out the system by enlisting joint venture partners to underwrite the costs in specific territories. I like the fact that the system only costs $130, plus $5/month for monitoring, making it the first auto locating system priced for mass market appeal.

Centraxx can easily expand its patent pending technology to many other applications, including E-911, asset management, personal & workplace safety... the list is extensive. The product has considerable "peace of mind" mass appeal.

The market potential is substantial, with vertical marketing prospects. I like the "Gillette factor" -- the fact that there will be a recurring revenue stream from monitoring services.

The technology is proven, & R&D will continue to minimize the size of the tag device. When that is complete, it will be easy to apply the system to baby carriages, strollers, & even articles of a child's clothing -- a vast market! It could also be used to protect & recover such expensive items as purses, wallets, cameras, lap-top & palm size computers, etc.

As you know, I like to expose you to situations that are at as early a stage as possible, that have great potential, where the R&D is complete, & the company is close to creating substantial cash flow.

I see this as one of those situations. I suggest you check it out yourself, before the investing public begins to recognize the potential here.

Contact

For more information, go to www.centraxx.com. Investor inquiries should be directed to 800-355-1564 or 905-814-0030, or e-mail: ccourson@frankopan.com

Important Strategies

These comments apply to every situation mentioned in Conserva-tive Speculator. Special situation, low-priced, micro-cap, & high-gain-potential stocks have high risk. Fortunately, not many speculative situations turn out to be disasters, but some do -- that is a risk you must accept. "Winning Investment Strategies," my 60-page guide to speculative investing, is made available to every regular CS subscriber. Stated extremely briefly, here are three of my most important strategies:

1. Be prudent -- the total funds allocated to speculative stocks should be limited to a small percentage of your cash, certainly no more than you could lose without discomfort. I then suggest no more than 5% of that small portion be invested in any one stock, to spread your risk.

2. Do not accept my opinion as the reason to invest. Call the company. Get a feel yourself. If you are not totally comfortable, pass. I give you an ample number of possibilities. My task is to expose you to potentially profitable situations. You have the responsibility of making any investment decision. Do not give up that responsibility.

3. Since in a monthly newsletter it is not possible to tell you when to sell, apply a moving stop-loss strategy. If the price goes up, raise your stop-loss guideline point to something like 20% below the new price. Keep doing that as the price rises. If the price goes down to your stop-loss point, grit your teeth & sell. This limits loss, but lets profits increase.

Update Briefs

This section does not include information from the news releases I receive on situations I have covered in past recommen-dations or Sneak Previews. If you hold any such stocks, please get your news & updates from www.WallStreetCorner-.com by using "Financial Navigator."

Just click of the "Go Search" button on the bottom right of the home page. When the Financial Navigator page comes up, just type in the symbol of the company. You'll get the current price & volume, & can usually get almost anything else you want from the pull down menus under "News," & the other categories of information at the top of the screen.

I usually include only the one to three situations where I have either personally interviewed management, or believe some personal comment by me is appropriate. I do not have room for much detail, but on each situation I cover, I include contact information for your convenience.

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