You know I got to thinking about ol Randy Berg's post about how not all of OIA's 99 revenue would be attributable to ZSUN though the PR they put out reads that way, and it got me to wondering if this was the first time they had done used this, in my opinion, deceptive practice. The answer is apparently not.
Exhibit 1
Todays PR that touted a 35x growth in sales for ZSUN, up "from $769,320 in fiscal 1998."
Exhibit 2
2-8-99 PR put out by ZSUN touted fiscal 99 revenues of Momentum Asia subsidiary of $2.4mm
Exhibit 3
3-3-99 PR put out by ZSUN that toted $1.0mm in revenue for it's Momentum Internet subsidiary.
Exhibit 4
Zsun's "audited financials" You remember, the one's they posted on their website back last spring. In them they claim net sales of $2.29mm
Now i'm just not getting it, today they claimed they had sales of $.7mm in 1999, but in old PR's and their old "audited financials" they claimed much more than that. The only two explanations I can come up with is
1. They lied.
2. They deceived investors in the old PR's, by failing to point out that most of those gee whiz numbers they were putting out came before ZSUN "bought"(what a misuse of that word) these "wholly owned" subsidiaries.
This is all in my opinion of course, which i'm entitled to under Amendment 1 to the US Constitution. God Bless America.
CMB
PS,
Can anyone find where ZSUN filed Q4 numbers with the SEC? How can you report yearlong numbers without the Q4 ones, and if you have the Q4 ones why not get em filed. |
