EXSO -- Consolidated Eco-Systems (Exsorbet Industries) Message Board

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Microcap & Penny Stocks : EXSO -- Consolidated Eco-Systems (Exsorbet Industries)

EXSO 0.0001000

0.0%

Jan 9 9:30 AM EST

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To: Razorbak who wrote (1417)	8/14/1997 10:04:00 PM
From: J.S.	of 5015

(more on conversation with Chip Sexton) As I mentioned in a previous post, long term refinancing is in the works on several fronts. (my opinion: earnings are secondary at this point if we are between valuing this stock at $.25 or $.75. Basically, companies with working capital and growing revenues don't trade as low as $.25 even with 40,000,000 shares. The market seems to give small companies with clean balance sheets and prospects for future earnings a free five to ten million in market cap. With growing revenues a price at 3 or 4 times revenue seems to be very common. After EXSO breaks a buck then people will start looking at P/E ratios. Don't get me wrong. Earnings are important and do impact the balance sheet. As you mentioned Razor, cash flow and transfer of assets from long term to current and vice versa for liabilities will be key. Reading the 10Q in detail will reveal some of these issues.) The first convertible debentures were REG S. This means they are offered to off-shore "investors" (A Peter Morrisism). There is no registration requirement but the company does need to disclose the transaction. Chip Sexton stated that it was done in the August 10Q. I questioned whether this was enough and stated that I thought the 10Q did not give details as to date and to how much was lent by whom. Water under the bridge, in any case. $4,800,000 were converted in 1996. The rest was converted in May 1997. A little over 125,000 shares. This matter is over with in any case. The company was then snookered into the floorless debacle by Meyers who assured them that REG D , with registration requirements and to domestic institutional investors, would protect the company and its shareholders. Boy where they in for a surprise! TBC Good Luck to All, Joe

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