Some further info: As far as I can tell, Desience (which stands for "design science") was incorporated in California on April 17, 1984, which would make it 14 years old. It is possible that they have been doing this same business for the 25 years mentioned under another name, or another incorporation (or perhaps even pre-incorporation). The Dun & Bradstreet report on Desience lists info for the Malibu-based company; it estimates about $1.7 million in revenue. If revenue is this number, or even twice this number, that is hardly breathtaking for 25 years in business. The Kanakaris division apparently has about $1 million in revenue. Alex Kanakaris apparently was a Dean Witter stockbroker as recently as 1990; nothing wrong with this, but he's the key guy & he most certainly does not have 25 years of experience running a sizable comapny. I'm not sure he has any. More details would be welcome here.
If anything above is incorrect, please let me know what IS correct. Also, if this IS a reporting company, what are the revenues and earnings for 1997? Is a 10-K or 10-Q scheduled soon to be filed? Again, the info on their CFO is confusing; perhaps the website merely reproduces his resume verbatim without updating to show that he left his previous employment.
I am not here to be a nay-sayer, but it disturbs me when companies promoting their stock have failed to provide basic financial information. I hope I'm wrong, and that such information is currently available, or will very shortly be made available. |
