Geoff,
I am not sure if you were going through the annual report, but what killed me was that Mossimo used about a quarter of a million bucks on personal expense such as his house and car. To top it all off was he used $60,000 to purchase a car for one of his exec's. Give me a break! Mossimo and his brainless corporate execs have literally killed the company and the "quick turnaround will probably never come", as I am sorry to say. He has gone away from his men's t-shirts and sweatshirts which is were most of his revenues and profits were generated and branched out to areas where he has lost money, such as his TIME collection of watches which he closed down. I wish he could get more conservative and focus on really growing. If this stock hits below $6 bucks, I am in big trouble. I am already losing the farm on t his stock, I might lose the cows, chickens, pigs, etc...... Hoping for a turnaround.
Winston |
