Zonkie, I'm not trying to be combative. I read the IPO filing, all of it in fact. From memory, I can tell you that the reason stated by Kaire Int'l, or one of the reasons, for the IPO was to raise capital to repay their debts. Lot's of companies IPO with an initial negative book value. The company, in fact, would never even get close to the process of IPO'ing if it was not able to secure an underwriter as well as a firm willing to take it public.
Also, if you read the filing, they have indeed had positive years, and even with the loss in the last couple of years, have had $30MM plus in sales.
You don't have to answer every question, of course, but one thing I have learned from being on SI, other then being burned, is that you have to take responsibility for what you post on threads meaning this: if you state something, it should on an ethical basis be a statement of fact, or something that can at the very least be deduced logically from items which are presented as being factual to a reasonable level. Just my opinion.
Again, I'm not grilling you. If you don't like this stock, I appreciate the reasons why. All I am saying is that the reasons you gave, IMHO, of the downside of the IPO is neither logical, reasonable, or based on anything which I can find in the filing by Kaire Int'l. At the very least, it seems to me, they laid out a couple of hundred thousand dollars as a capital investment in a company with very little downside on recouping that investment. |
