SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Just For Feet (FEET)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: CRAIG CHAPMAN who wrote (303)8/20/1997 2:48:00 PM
From: Walter High   of 750
 
Craig:

Welcome to the thread. I don't remember you posting here before. We can always use more people who can offer opinions and insights.

In glancing at the figures posted with the earnings announcement, the major difference I see is that last year FEET had a million dollars in income from interest, while this year their was a $35,000 expense. Add a million to the bottom line spread over 30 million shares and you get the 3-4 cents FEET came up short.

FEET has been dipping into its capital reserves fairly severely and has gone into the market to borrow more. I am not an accountant, nor do I pretend to understand a lot about accounting, but such major shifts within the balance sheet make me nervous without a clear explanation from the company. All I could get from the CFO when I talked with him three weeks ago was that FEET was borrowing now while the money is cheap, and holding it for future expansion. I was hoping Mark Heath might help us with the figures since he is a CPA.

I agree with you that FEET stores seem to be doing well and that they cater to their clientele nicely. They got themselves into a financial bind with the accounting problem (adjustment) this year, and now having to borrow money on top of that seems to be making investors nervous.

When I said FEET might be a $10 or less stock, I was expressing my opinion about how the market might value it, not what I think personally. I am looking seriously at buying the March 1998 naked puts at strike 15 for $4.50. That would let someone put the stock to me next March at an effective price of $10.50. I think that is going to be a bargain.

Walter High
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News