LENP.T (LXPYF-OTC.BB) Best story ever? Message Board

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Microcap & Penny Stocks : LENP.T (LXPYF-OTC.BB) Best story ever?

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To: Dan Turner who wrote ()	3/18/1997 5:47:00 PM
From: Dan Turner	of 619

ALL, JP has been faxed the release. He read some of it to me over the phone. Said it is 26 pages long! LOTS of explaining about why the numbers look so bad. AND, indeed, from what he said, they do -- both the FY'96 numbers and the 1stQ '97 numbers. It appears there are two main culprits, from what LENP is saying, both of which are policies of Canadian accountancy. One is what we've been hearing already, the depreciation rate for their patents. The other is that the Canadians don't permit them to take payments as income or as additions to assets until all the product has been shipped. Consequently, revenues are much lower than expected, too. But, they have received substantial sums in upfront NONREFUNDABLE payments. Apparently they also spend a good bit of ink on what has been going on more recently and what is happening currently. A lot of that sounds very exciting. Anyway, I'm looking forward to getting my copy so I can see it for myself. Rgds. -DT

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