When the heck are those financials for ARET going to come out?????
That's a question I've been asking Barry and Delmar on a weekly basis for about a month. Sometimes more than once per week.
I've been told many times "by the end of this week or the beginning of next week".
My understanding is that there is a disagreement between the auditor and the company regarding the handling of certain liabilities. Delmar is optimistic it'll be resolved to his liking, and even told me Friday that it was at or near a resolution. However, I've rarely known bean-counters to budge an inch. They do what they do because GAAP says to, the wishes of the company be damned. Personally, I don't see what the problem could be, as the set we're waiting on is the 10K for 1996. Ancient history. The Q's for 97 are supposed to be out a couple of weeks after the K. That'll bring them up to "current" status, but until they can get the 97 10K out by the end of March.
I've decided to take 2-3 weeks off from stock-watching and come back and see if anything has changed. As someone with a large position in this company, I'm extremely frustrated with them right now. Yeah, it's great that they're getting work and have irons in the fire, but it's very frustrating that they're having so much difficulty seeing through to fruition a task they're obligated to do.
My long-term expectations of this company are still very high (as in over $1.00 in a couple of years at most), but my conviction of that happening has been shaken quite a bit by what's happening right now with the financials.
Don't you think the number of shares outstanding really effect any upward movement in price?
Yes, they do, but if you watch the volume/price activity, I think you'll see confirmation of something I've been able to determine through many sources: only a relatively small portion of the 30-50M float is really free-trading. I'd guess that the actual shares available to the MMs to buy and sell on a given day is less than 10M. Perhaps much less. Watch the reaction to trades. I think you'll agree.
I'm not saying they're short. They'd be insane to short a 2-cent stock that has shown long-term support at 2 cents. Anytime it drop below it, it comes back up. The support really look more like Friday's closing price of 2.3, as it always manages to get back up there, even in the absence of news or rumors.
I'm sure those tens of millions of shares that're being held fairly tightly will come into play if/when the price goes up substantially, but they aren't in play right now. |
