Actually this love fest is better to watch from the
sidelines. Been on vacation the past couple days
purposely away from computers.
Basically in response to your last post, neither
you nor I know the answer as to whether the combined
companies generate cash flow or not since the company
supposedly generating the cash flow was a private
company acquired. The prior 10q would not shed any
light on the cash flow or balance sheet as these items
pertain to Affinity, the acquired company.
Here are revenues and earning associated with
Affinity pre-acquisition and post-acquisition.
=====================================================
tsig.com
April 25, 2000
The management of Affinity reported 1999 revenues of
$22 million, with a pro forma pre-tax profit of $4 million
(unaudited). The Affinity Group projects year 2000
revenues at $30 million, with profits expected to reach $6 million.
siliconinvestor.com
Dec. 06, 2000 - sales for the year 2000 will exceed $25,000,000
=========================================================
I purposely make the distinction betw. the pre and post
acquisitions numbers because the post acquisition numbers
would be presumably post audited ones, since the acquisition
was contingent upon an audit.
The post acquisition PR notes "sales" meaning revenues
w/o profits per se and is down from the April projections
or approx. 5 mill. Moreover, in the post acquisition
release no projections are noted for earnings.
Thus post acquisition PR makes no claims to earnings whereas
pre-acquisition one does.
What will the s-8 or 10q show that accounts for
Affinity as part of the "group"? Per the post
acquisition PR, numbers confirming the presumably
post audit "sales" of $25 mill better be in the
balance sheets IMO or that 12/06 PR again IMNPO
(in my non professional opinion) has some legal problems.
But will there be any earnings?
Will there be data mining or teleservices revenues
derived from Coca Cola for what otherwise
looked like a hitherto unprofitable deal for "Mycard"?
Neither you or I know, and especially in lieu
of the reverse merger of GS into tsig, and the subsequent
acquisition of Affinity, you are quite literally looking
at a different company where the prior CEO was marginalized
significantly even before being kicked out the door.
(Note beneficial ownership of RG before and after
R/S, reverse merger of GS and acquisition of Affinity...
hint his shares % own of the OS drop significantly).
The company is considerably different from
a cash flow and management sense
even without the acquisition of RIMC.
Though this acquisition didn't occur largely
(as conveyed to me) due to a contingent of
RIMC's share holders and one director (the CA lawyer)
wishing to seek alternative financing (which hasn't
occurred), the business relationships betw.
GS/Affinity and RIMC are still in place which includes
informercial sold PC's preloaded w. GS driving
traffic to GS, plus data mining of RIMC customers,
along with teleservices support provided for RIMC customers.
Now if you familiarized yourself w. RIMC's filings,
RIMC had some huge revenues numbers, but after backing
out costs of goods and operations, RIMC has slim
margins...
RIMC's margins are slim and getting slimmer due
to depressed PC sales, and therefore are still in need
of expanding their markets to offset these slimmer margins
w. more volume getting greater efficiencies through
economies of scale (in theory).
Regardless, the clarifications put forth in
PR's regarding these still standing business relationships
between RIMC and TIGI, IMO were done to assuage
any further misunderstandings created by releases
that were suppose to be coordinated but were not....
(See response to Topfuel that he's been pestering me
about).
Anyway, or in other words, neither you nor I know
the financial status of this company until the
10q that accounts for a private company's numbers
are factored into the balance sheet. Even the
last 10q due to the structural and managerial changes
doesn't provide the answers you presume to see in
your crystal ball.
So I'll still wait, as you pontificate
....doom and gloom....head zed
z
(As an aside, an apology to V?gas for using a
"big" word "pontificate"....Preach didn't rhyme
with wait). LOL |
