posted
Info: Outstanding shares: 69,739,752 (17,434,938, 3 for one split so times 4) from a November quarterly filed with the SEC.
Total Assets: $15,196,485
Total Liabilities: $13,826,867
Total Shareholders Equity: $1,369,618
Net Sales: $12,292,875
Net Loss/Profit: $(543,332) (Lost in this case)
Note: Having net sales of $12 million means that this company nearly makes it's value in liabilities in a single quarter (If I'm reading this right) That's crazy IMHO, but shows that they are clearly capable of paying off loans.
quote:In November 2004, the Company signed a Standby Equity Distribution Agreement with Cornell Capital Partners, LP ("Cornell") whereby Cornell has agreed to purchase, during the next 2 years, up to $10,000,000 of the Company's common stock pursuant to the terms and conditions of the Standby Equity Distribution Agreement.
AFAIK, Cornell has been shorting the hell out of the company to get the stock cheaper. The CEO knows this though, and decided to go with someone else (not yet reported who). I'd be surprised if they didn't just keep shorting the company in spite. That's what is rumored to be the reason for the massive drop in price.
I'd highly suggest doing your own DD here, because this, as with all stocks is really risky. I personally think they are highly undervalued, others on here think this is an excellent underdog stock with a lot of long term potential. I think it also has quite a bit of short term potential too, but I'm worried that we might see a huge run on low volume. We'll have to see.
-------------------- As a forum poster, it is ironic that you are held to a higher standard than a Pink Sheet CEO.
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Posted by: Investo7 In reply to: bkwheadon who wrote msg# 534 Date:4/28/2005 10:27:51 AM Post #of 536
bkwheadon; Yesterday and Today Tom G. is at the Michele Audio offices, the Phone Number for that office is 315-769-2448. The secrectary that answers the phone there says that when hes at that office he is on the phone most of the day and it's hard to get thru to him, I tried several times yesterday and already this morning, you just have to keep trying to catch him when hes off the phone.
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