Obviously, I did not buy the shares based on those projections; I've owned the shares prior to that date. Although the Company never made the projections public per se -- they were presented to the marketing company -- it does show that they (at least at the time) were optimistic in their projections. The Company has never, to my knowledge, presented projections before to the public investors. I presume that the projections were prepared in good faith when presented to the marketing company.
I am somewhat perplexed that the Company put the projections in the most recent SEC filing which are two years old; why would they do that now [1999] when it is obvious that they won't meet the projected results?
Why did they make those projections available to a marketing company in 1997, but not at that time to the investing public shareholders? The marketing company, as you may remember, did present these figures as forecasts and possibly people bought shares based on these projections.
Why didn't they put their current projections and assumptions in the 1999 SEC filing? [What value does the Company see in presenting to us, the readers of the financial statements, outdated projections from two years ago? - why is this helpful to the current readers?]
It would be very interesting to see the Company's projections for the future, the year that they believe that they will start selling, the revenues and income, etc.
Current projections could put the share price back on the screen if they still foresee those types of sales and earnings figures. Obviously, appropriate disclosure is warranted. But if they've given the marketing company projections in the past, why not give us the current projections? |
