GRIN (Grand Toys International Inc) Message Board

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Non-Tech : GRIN (Grand Toys International Inc)

GRIN 27.40

0.0%

Dec 5 9:30 AM EST

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To: Frank McVerry who wrote (164)	4/18/1999 3:19:00 PM
From: katmando	of 495

Frank, 1. Plz see SEC 10-K filed 3/31/99. 2. Outlook 1999 might be GOOD. May not happen in 1Q but Net Sls must pop NLT 2Q because GRIN has a 4-mon shipping rule on backlog. Backlog is very IMPRESSIVE. Also, scary if they can't ship. 3. First Hurdle: No profit margin in '98 ie negative earnings. COGS was up 5 % over '97...that is BAD BAD BAD news. I presume due to currency adjustment (US vs CAN $). This expense better drop. 4. Second Hurdle: GRIN has $15.7 Mil in back orders which must ship in 4 mons. That's almost half of all 1998 Net Sls!!!! Good news. 5. Third Hurdle: AR is huge at $7.7 Mil. GRIN must collect this or it will get hosed. I wonder how much they have in uncollectables. 6. Fourth Hurdle: Info Tech. GRIN needs to get on with the web site and E-commerce. Am wondering if their sales force is automated in any way. GRIN's Manufacturers are automated: Tiger, Toy Biz, PMS Intl etc. GRIN's Customers are automated: WALMART, Toys R Us, Sears et al. What the heck!!!! 7. GRIN is broke bad if it can not produce earnings in 1Q and 2Q. 8. My guess: GRIN is going to liftoff this qtr.

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