Taki, just for you, from Raging Bull TEVT board......
Youph, don't see Red, just read. You could not be further from the truth about Red Arrow - he is just an interested amateur who finds it hard to believe the hype you "professionals" put out on certain stocks including TEVT. Read their last 10-KSB carefully, and tell us all why they gave themselves and others all so many shares. Here are some extracts:
Item 12. Certain Relationships and Related Transactions
For the fiscal year ended June 30, 1999, the following material transactions
between the Company and its officers, directors and/or beneficial owners
took place:
The following Restricted Common shares of the Company were purchased by
officers and directors of the Company at par value:
Frank Mortimer, Director & President 1,450,000 Restricted Common Shares
Bryan Carter, Director & Vice President 50,000 Restricted Common Shares
L.R. Leverton Enterprises Inc. 250,000 Restricted Common Shares
Restricted Common Shares purchased by employees (beneficial owners)
of the Company shares, at par value:
Employees (2) 350,000 Restricted Common Shares
Restricted Common Shares purchased by existing shareholders
(beneficial owners) of the Company shares, at par value:
Beneficial Owners (8) 3,950,000 Restricted Common Shares
Transactions at par value, with directors, officers and employees, in
consideration that no salary increases have taken place since 1991, except in
promotional circumstances, and in recognition of long term employment and
support of the Company.
Transactions with existing beneficial shareholders at par value, in
consideration for their long term personal financial assistance and support
of the Company.
Now read on from the same 10-KSB....
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE BALANCE SHEET AND INCOME STATEMENT INCLUDED IN PART II, ITEM 7 OF
THE REGISTRANT'S ANNUAL REPORT ON FORM 10-KSB FOR THE YEAR ENDED
JUNE 30, 1999, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS
PERIOD TYPE: YEAR
FISCAL YEAR END: JUN-30-1999
PERIOD END: JUN-30-1999
CASH: 13,883
SECURITIES: 0
RECEIVABLES: 124,435
ALLOWANCES: 0
INVENTORY: 45,143
CURRENT ASSETS: 183,461
PP&E: 647,890
DEPRECIATION: 492,453
TOTAL ASSETS: 431,351
CURRENT LIABILITIES: 964,941
BONDS: 0
COMMON: 221,980
PREFERRED MANDATORY: 0
PREFERRED: 0
OTHER SE: (929,876)
TOTAL LIABILITY AND EQUITY: 431,351
SALES: 1,131,279
TOTAL REVENUES: 1,131,279
CGS: 763,922
TOTAL COSTS: 763,922
OTHER EXPENSES: 411,286
LOSS PROVISION: 0
INTEREST EXPENSE: 64,689
INCOME PRETAX: (43,928)
INCOME TAX: 5,658
INCOME CONTINUING: (38,270)
DISCONTINUED: 0
EXTRAORDINARY: 0
CHANGES: 0
NET INCOME: (38,270)
EPS BASIC: (.00)
EPS DILUTED: (.00)
That CURRENT ASSET to CURRENT LIABILITIES ratio is 0.19 to 1. That means they are insolvent.
Youph, "news releases" from any PR source are intended to
promote the stock, not to tell the truth about the company's real situation. Try reading the SEC filings before you see red. |
