By: frisky
Reply To: None Tuesday, 4 Apr 2000 at 11:09 PM EDT
Post # of 18758
Does ZSUN have something to hide? Why did ZSUN not release the 4th quarter EPS through the right channels? After the conference call, we still have no idea how much ZSUN?s 4th quarter diluted EPS was. Why does ZSUN not want to present the financial statements to the public?
IMO, ZSUN does not want the public to know the ugly diluted EPS. ZSUN does not want the public to understand that the $5,000,000 profit from selling Asia4sale.com to uninformed foreigners is just a one time gain. ZSUN does not want the public to understand that the restricted shares of AFSI are illiquid. ZSUN does not want the public to understand that 85% of the revenues of 1999 was from OIA which was not even a unit of ZSUN until the second quarter of 1999. ZSUN does not want the public to understand that all its earnings were mainly from OIA and trading BB shares. ZSUN does not want the public to know that all its Internet businesses were very lousy.
BTW, ZSUN cannot just give the shares to former OIA shareholders without deducting the federal, state income taxes and Medicare taxes. We are talking about tens of million dollars. If ZSUN does not withhold the taxes, the IRS will go after ZSUN. ZSUN must pay all the withholding taxes immediately after the former OIA shareholders exercise the options. Back in 1920s, the government could not prosecute Al Capone on murder, and drug-trafficking charge, but the government was able to lock Al Capone for life on tax invasion.
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