Problems with DDIM
Have you looked at DDIM's Financial Statements ?
For every one dollar of cash in the door, two dollars is going out.
DDIM has spent $9 Million CASH in 12 months and reported less than $1 Million in total earnings.
DDIM has created earnings by pretending to be a software company and deferring $1.8M in costs for Product Development, and deferring a $1M in Prepaids. On 12-31-95 DDIM had just $90,000 in "Prepaid & other assets". Just 15 months later the balance is now $1,279,000. What are they prepaying?
DDIM has announced the release of Ardes six times in the last nine months. Mr. Martin visited two dozen cities trying to sell Ardes and DDIM has sold only two Ardes Starter Kits for $30,000.
DDIM is proving there is NO MARKET for Ardes ! The $1.8M deferred Product Development costs should now be expensed. However, DDIM plans to amortize the $1.8M over 3 to 4 years.
Insiders continue to feather their nest ? Look at Stockholders Equity !
Shares increased by 164,000, Capital in excess of par value increased by $149,000
I think this means insiders got the stock at $0.91/share.
$2,500 is not a reasonable allowance for $6 Million in A/R ($2,500/$6M = 0.0004)
DDIM should have allowed (expensed) about 5% or $300,000. |
