BFT: Will the tulip craze ever break down? Message Board

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Strategies & Market Trends : BFT: Will the tulip craze ever break down?

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To: Pancho Villa who wrote ()	3/9/1998 4:26:00 PM
From: Pancho Villa	of 650

AN INTERESTING PRESS RELEASE SHOWING MANAGEMENT IS LYING ON THEIR FINANCIAL SITUATION: CREATION OF A NEW RATIO! Just when you think you have seen all the deceiving tricks CFO's and CEO's try to pull on the little guys you see this one from todays news on BFIT: biz.yahoo.com "The company in August raised about $90 million in an eight million share common stock offering, which helped to reduce its total debt-to-market equity ratio to about one-to-one [what a big lie!], Hillman said." You read this and then you think Pancho was lying to you when he told you that the debt equity ratio was almost 10X. Well, They just invented a new ratio! debt to Market capitalization! a rare mix of accounting standards based on historical values with the current market value of the equity (also, I believe they used long term debt only and not total debt as they say in the release). I wonder if they will still use this version of the ratio once the stock price falls to under 5 bucks. This is the type of deceiving tactics companies have to use when they have nothing of value to promise stockholders!

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