For completeness, here is what I posted to AOL from Charles' responses to my earlier questions....
Here are the responses from Charles (thanks Charles!) to my questions. I deleted my original questions because the post is too long for AOL with them in. A few short responses from me are in brackets.
Mike, I wrote a long reply to your series of questions on SI
Investor, but when I hit "submit", my computer froze as it often does
with a long post, and I lost my post. I use Netscape 2.0 and it isn't
compatible enough with SI Investor. Instead, I'll use email to reply
to your questions.
+++++++++++++++++++++++++++++++++++++++++++++
1)
++++++++ My emails to my SAC list are sometimes long and involved,
even to the point of using table format. SI Investor is good for
making fairly limited posts for chit chat and repartee, but when I try
to use it for serious posts, it is hard to read at best, and loses my
input at worst.
AOL seems to have even less capacity and even charges me for using it.
Email doesn't cost me anything and doesn't limit my use. Email
doesn't freeze or crash my computer.
I haven't done any trolling for new investors in almost three months.
Now I have a question for you, Mike. You, Lloyd, and I are the only
ones using SI Investor for RICA. Why don't you want to get SAC
information via email like everybody else?
[I'm thinking about it, but I don't want to be put on a list until I decide that this company is worth long-term investigation.]
2)
++++++++ I don't know.
3)
++++++++ James Isenhour (Kirk) and Al Smith are not needed to run the
poultry business. Calixto Chaves has done that very well since 1969.
Kirk and Mr. Smith are needed for their expertise and experience with
the NASDAQ system and for their contacts within the US and
international financial communities.
4)
++++++ I don't know.
5)
+++++++ ACR was started by Calixto Chaves and ran into trouble. Kirk
has been working to fix its trouble and take it public. Again, Kirk's
expertise is not in running an airline, but in dealing with financial
matters.
6)
++++++++ Since they have different surnames, I don't think they are
father and son.
[My understanding of surnames in many Hispanic countries is that they have two parts, coming from both the mother's and father's side. You'll notice most of the board members from Papisa have 2-part surnames. I thought since Jorge has the "Chaves" in common with Calixto, and since he seems the right age, and was an exec at Pipasa, he might be a son.]
7
++++++++++ It is misleading to compare quarterly numbers with annual
statements because of seasonality. For example, Pipasa makes
specialty foods and in my home, certain special foods are consumed
only once a year. I wouldn't be surprised if that were true in Latin
American homes as well.
[I was pointing out a consistency between annual numbers with recent quarterly numbers which suggests they are in the ballpark for a .10/share earnings.]
The quarterly statement makes the proper comparison between the same
quarters in 1995 and 1996. For example, the "net earnings before
taxes" is stated as $734,071 in 1996 and $371,462 in 1995.
I have a number of questions related to information in these reports.
Kirk says the quarterly statement is wrong in format and will have to
be revised. Unfortunately, although I met Calixto Chaves, told him
who I was and gave him my email and home addresses, no operating
officer has been made available to me for answering questions. This
is very problematic for a SAC. There hasn't even been one news
release in the entire history of RICA.
I expect these questions and problems to be worked out eventually. In
the meantime, I will continue to send emails to the SAC, but have
reduced my forward looking statements and personal opinions and
guesses until we hear something from the CRI management.
[Thanks for your prompt responses Charles. Anyone else got any thoughts on these matters?
regards,
Mike] |
