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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ
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To: Senator949 who wrote (3051)4/2/2001 10:31:15 AM
From: Praxis   of 3086
 
Yikes, annual report was released. Their selling costs and acquisition costs are WAY too high, they definitely overpaid on most of these. Management needs to reign in these costs, pare down and concentrate on just a few areas rather than trying to be everything to everyone...because that strategy just doesn't work.(Look at NAI)Also disturbing is the fact that over 50% of sales are attributable to just four clients. Also notice that eFinancial is one of their "four key customers" but in reading further they took heavy losses in an investment in eFinancial and one of the directors sits on the board.hmm...
Loss on Impairment of Investment. The Company recorded a $879,544 loss within the last three months of 2000 related to an investment in eFinancial. On December 12, 2000, the Company received 2,384,000 shares of common stock of eFinancial in settlement of work performed by the Company in the amount of $2,112,946. eFinancial is a publicly traded company. An advisor to eFinancial is also a director and officer of JAWZ. At December 31, 2000, the investment was assessed as permanently impaired given the eFinancial stock price and a write down was taken to value the investment at estimated fair market value. There was no such provision recorded in 1999 or 1998.

biz.yahoo.com
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