To: Riley G who started this subject
From: mawork1 Thursday, Oct 2 1997 8:01PM ET
Reply # of 54968
OVIS uses funny math
According to SEC filings OVIS had $2,340,212 in shareholder equity on June 30, 1995.
In the year ending June 30, 1996, OVIS generated $1,003,426 in revenue, and had expenses of $19,279,915, which resulted in a net loss of $18,276,489.
If you subtract the $18,276,489 loss from the starting equity of $2,340,212, you get a negative number (-$15,936,277).
When OVIS does the math they get a plus $1,352,548 for shareholder equity.
Its no wonder the auditor refuses to certify the financial statement.
To: mawork1 who wrote (130)
From: ROBERT QUIEL Thursday, Oct 2 1997 8:16PM ET
Reply # of 54968
Holy Cow!!!
How do they do that? Must be VooDoo Economics.
Message #98 from mawork1 at Oct 2 1997 3:25PM
More phony baloney from OVIS.
Olympus Mills has been CLOSED FOR OVER 8 MONTHS !!!!!!!!. The facilities, located at 749 West 17th Street, Hialeah, Florida, are empty except for Ladies Wear Cutting Service who subleases a small portion of the empty building.
Olympus Mills' phone number, 305-885-4454, has been disconnected. Calls are forwarded to an answer machine at 305-234-7836.
Well after the facilities were abandoned, OVIS continued to tell investors how well Olympus Mills was doing. Do you think they are telling the truth about anything? |
