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Microcap & Penny Stocks : DRGI (Diversified Resources Group)
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To: $Mogul who wrote (372)7/29/1999 5:42:00 PM
From: Eric Fader  Read Replies (1) of 818
 
Mogul - I did see that, and I'd already heard of the accounting firm. Obviously that credibility has played a large part in the stock's runup. All I can say is, IMO "something" is amiss. If the EPS were not from ongoing operations, but rather entirely the result of some sort of favorable accounting adjustment, that would explain it. What concerned me the most, frankly, was that the company would put out a press release with the 17 cents stated so prominently, and leave it to many unsophisticated small investors to fail to notice that the rapidly increasing number of shares makes the EPS number much less meaningful even if true. If they could do that, they are also capable of failing to disclose that the EPS was all a one-time, non-recurring effect of the reorganization. Let's see the financial statements. -Eric
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