No Ditch....there's another word for it....
That word is "fraud" if what was reported isn't true.
Per the last 8-k, an amended 8-k was due by the
beginning of next week with Affinity's audited
financials for the first three quarters of last year,
which would confirm annualized earning numbers as
noted in the PR's and also provided without
back up in the 12/28/00 8-K on page 20 as follows,
(t) Annualized EBITDA. The Target's annualized
EBITDA, on a pro forma basis, based upon the nine-month
period ended September 30, 2000, was approximately
$2.2 million (with $200 thousand in bonuses paid added
back) on annualized gross revenues, on a pro forma basis,
of approximately $19.4 million.
Moreover, per news releases Roix was proclaiming
that they were exceeding the annualized, or
earnings project for the full 12 months, especially
due to increased sales through the internet associations
formed through merger most notably in December of 2000
Now since the "buy back" was conveniently
initiated, the audits are considered material and
confident information of the "target" Affinity, that
can't be released by the "parent" tsig.
Thus if fraud was perpetrated then the timing
neatly fits the schedule of not demonstrating earnings
when REAL numbers would have to be produced to show to
shareholders the apparent BS we were being fed.
So again, I wonder as to the specific timing
of the last news release, as this pertains to having
more than only carrots to dangle to keep shareholders
optimistic even as the share value eroded
significantly.
So as to where's the "beef", looks like money talks
and Scott Roix with his bulllshit walked......
z |
