SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Mr. Pink who wrote (12291)12/15/1999 6:59:00 PM
From: Puck   of 18998
 
Yea O Venerable P!nk,

I do enter thy Kingdom to entertain you with a lamb for sacrificial slaughter. The name of this young beast is FutureBiotics (VITK), whose stock rose an astounding 106% today. Although it files with the SEC, much remains a mystery. As of 8/31, it claims to have $37 M in cash and quarterly and nine month losses of $507 M and $655 M on sales of $5,484 M and $1464 M respectively. Little else is known about this company except the following odd morsels.
During the summer Neutraceutical Corporation unilaterally broke off its proposal to purchase all of the assets of VITK. The most recent Q filed in October states that "Management is pursuing the sale of these assets, and does not anticipate a loss on the sale." That same Q says of VITK's financial position as of 8/31: "On July 22, 1999, the Company and its parent terminated the revolving credit and term loan facilities with its bank. The Company expects to meet its cash requirements from operations and current cash reserves." The Co. claims $6.5 MM in net working capital but half of this amount appears to be an asset entitled "Due from parent," left without explanation rather mysteriously. I reiterate that the cash position was reported as $37 M with $655 M in nine month losses, yet this company has been rewarded with a market cap. of $11 MM. Curious, don't you think?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News