ADGI - American Diversified Group Message Board

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Microcap & Penny Stocks : ADGI - American Diversified Group

ADGI 1.920

-9.4%

Oct 29 9:30 AM EDT

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To: Walter Morton who wrote (9551)	11/22/2000 2:23:58 AM
From: Walter Morton	Read Replies (2) of 9569

ADGI states in its latest news release that the reduction in its loss is due to the growth [in sales]. However, the truth is that ADGI did not spend over $1 million on "consulting fees" in the quarter ended 9/30/2000 as was the case in the same quarter of 1999. Even with all of ADGI's sales, if ADGI had spent $1 million on "Consulting Fees" in the quarter ended 9/30/2000, ADGI would have had a net loss of over $1 million just like it had last year. So, ADGI's improved bottom line is not a result of growth, but an improvement in spending decisions. Who did ADGI pay $1 million in "consulting fees" to in 1999?

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