posted
I have loved this stock for the last 2 years and made a bit of money during the run last year but now I have lost any hope of seeing it go anywhere but down. Here is a paragraph from the bottom of their latest financial statement
"However, although we have a $160.0 million standby equity distribution with Cornell, there are certain factors that may prevent us from drawing down on it. As such, due to the uncertainty of our ability to meet our current operating and capital expenses, in their report on the annual consolidated financial statements for fiscal year 2005, our independent auditors included additional comments in their Auditors' report indicating the existence of substantial doubt about our ability to continue as a going concern. Our consolidated financial statements contain additional note disclosures describing the circumstances that led to this going concern uncertainity. The consolidated financial statements do . . . Jul 03, 2006"
Between the auditors concern about the company and their current ties to Cornell (The worst toxic financing company I have ever heard of and currently under investigation by the SEC) I have lost any hope of these guys pulling out of the current swan dive they are in.
If you are in this please read the latest financial statement and carefully review their debt, revenue and expenses.
-------------------- If you made money, it was a good trade Posts: 453 | From: Cleveland, Ohio | Registered: Apr 2005
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