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Microcap & Penny Stocks : Sinclare (SNCG) / cyberlinx
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To: Dee Jay who wrote (2112)5/8/1997 1:18:00 AM
From: Dee Jay   of 2696
 
continuation (hit the wrong key and it posted!):

Where are the figures? HTEC hasn't reported anything after the 1st quarter (ending 9/30) of the 1997 fiscal year.
The press release the consolidated sales for calendar 1996 *not including the acquired companies* was approximately $2 million. In referring to the acquired companies is he excluding only Ekland and Wyoming Consumers or is he excluding SNCG and IPO and Karate Intl? "Consolidated" implies more than one operation but he did not close on the SNCG and karate and IPO purchases until after 1997 began.

If you look only to Hightec they have a fiscal year ending June 30. For all of fiscal 1996 they had sales of just $61,373 with a net after tax of $13,000. For the quarter ending 9/30/96 their sales were just a paltry $1,108 and they had a loss of $9,192.

Now either Hightec had one helluva quarter ending 12/31 or there is a real problem here. Remember,he said the consolidated sales were $2 million for the calendar year so if you throw all of Hightec's fiscal 1996 sales into calendar 1996 for 9 months you only get $62,481, and a net of less than $4,000 plus any possible tax recapture.

So it's clear that he excluded only Ekland and Wyoming and INcluded the other 3 companies, Karate and IPO and Sinclare. Now how did Karate and IPO produce enough revenue to offset Sinclare's losses? Not stated but certainly very germane.

In fact it appears he's leaving out Sinclare altogether because Karate all by itself allegedly produced the $2 million and $400,000 net. The use of "approximately" takes care of the peanuts that Hightec itself produced during all of 1996 and IPO has no revealed revenues or profits for 1996.

Now this is where Stockett has the problem - he uses words that imply a consolidation of all of the companies he has gotten control of but in fact he doesn't include all of the figures. He cherry picks among them so as to allow for the use of $2 million and $400,000. THE FAILURE TO INCLUDE SINCLARE IN THE CONSOLIDATED SALES AND PROFITS IS WHAT I REFER TO AS ARTFULLY WORDED PR. It may also be fraudulent because it could mislead people - but I'm not a legal expert so I wouldn't say that.

Oh, maybe the revenues EXcluded Sinclare so maybe the profits are from just 1 or both of the other 2 - but his release doesn't say that although it does mention Sinclare along with Karate and IPO (and even BAI). Doesn't he have an obligation to be very clear and specific as to where the numbers come from that he's announcing to the investing public? You bet your filigreed anodized aluminum sheet stock he does!

Dee Jay
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