posted
their balance sheet is only going to get better. It didn't reflect the increase in net assets after liquidating the 2 POS units.
As a result of this liquidation, as of January 28, 2006, the assets and liabilities of Tricell UK and Tricell Int. will be removed from Tricell’s consolidated financial statements. The overall effect on the Tricell’s financial statements is that Tricell’s net assets will increase by £1,978,817 or (equals $3,509,036 as of January 28, 2006), which includes the £1,000,000 VAT receivable (equals $1,773,300 as of January 28, 2006). Tricell’s Form 10-K for the fiscal year ended December 31, 2005 will include the estimated deficiencies of £1,002,132 (equals $1,777,081 as of January 28, 2006); however, as of January 28, 2006, all liabilities of Tricell UK and Tricell Int. will be removed from Tricell’s financial statements, and Tricell’s net assets will increase by £1,002,132 (equals $1,777,081 as of January 28, 2006)
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posted
I'm long so I'll be here a while. There is some serious upside potential. The company is making money and not a diluting POS like a lot of other penny stocks. The main problem here is lack of exposure. They are working on starting an IR campaign soon.
If you have any questions try giving Alan Gelfand a call at (604) 916-5000. He is the current IR contact.
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