ETPI-Military Entertainment Enters Civilian Market Message Board

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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market

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To: Gator who wrote (4722)	9/17/1999 2:19:00 AM
From: Toby Zidle	of 4767

Welcome back, Gator. It seems like a long time since your last post. I presume that one of the reasons for your enthusiasm is the Hero's press release posted just ahead of your message. It does sound very good, no arguing the tone of the release. It uses some strange terminology though - makes a person wonder where the writer ever (never?) learned about accounting reports. I refer primarily to the usage of the term "cash flow". Cash Flow has a very specific meaning in financial reporting and it's reported in dollars, not percentage. When one reports revenues with a 'cash flow' of 22%, it looks like the reference is to a 'profit margin'. We both should know that cash flow and profit margin are far apart in meaning in a well-prepared financial report. The press release then continues, "2000 season revenues are budgeted to exceed $1 million, with cash flow increasing by 32% based on this year's performance..." The usage would infer that the 'flow' should increase TO 32%, not BY 32%. The latter means a reader has to do a mental calculation to get to the actual 'flow' percentage. A good release should give you the answer directly. I think this release does that (my inference, really), but the necessary word is "TO". The 'flow'increased BY 32% gets you to a different number than a 'flow' increased TO 32%. Overall, this looks like a good press release, but it's just plain sloppy in the area that matters the most. Of course the writer gets his materials from the company. If that's what ETPI provided, it only demonstrates that Doug Butcher has NOT upgraded his financial reporting staff, the same staff that has issued ambiguous and barely interpretable reports for almost every quarter since Creation. Let's get with the program, Doug!

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